Green Park Snacks Limited
Financial Statements
For the year ended 31 December 2024
Pages for Filing with Registrar
Company Registration No. 09304849 (England and Wales)
Green Park Snacks Limited
Company Information
Director
A Agrawal
Secretary
A Agrawal
Company number
09304849
Registered office
6th Floor
9 Appold Street
London
EC2A 2AP
Auditor
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Green Park Snacks Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
Green Park Snacks Limited
Balance Sheet
As at 31 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
60,104
43,951
Current assets
Stock
-
23,606
Debtors
4
105,869
227,911
Cash at bank and in hand
276,402
70,444
382,271
321,961
Creditors: amounts falling due within one year
5
(4,837,084)
(3,970,167)
Net current liabilities
(4,454,813)
(3,648,206)
Net liabilities
(4,394,709)
(3,604,255)
Capital and reserves
Called up share capital
6
4,267,927
4,267,927
Profit and loss reserves
(8,662,636)
(7,872,182)
Total equity
(4,394,709)
(3,604,255)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 August 2025 and are signed on its behalf by:
A Agrawal
Director
Company Registration No. 09304849
Green Park Snacks Limited
Statement of Changes in Equity
For the year ended 31 December 2024
Page 2
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
4,267,927
(7,591,759)
(3,323,832)
Year ended 31 December 2023:
Loss and total comprehensive income for the year
-
(280,423)
(280,423)
Balance at 31 December 2023
4,267,927
(7,872,182)
(3,604,255)
Year ended 31 December 2024:
Loss and total comprehensive income for the year
-
(790,454)
(790,454)
Balance at 31 December 2024
4,267,927
(8,662,636)
(4,394,709)
Green Park Snacks Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 3
1
Accounting policies
Company information

Green Park Snacks Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

During the period, the company generated a loss of £790,454 (2023: £280,423) and had net liabilities of £4,394,709 (2023: £3,604,255) at the period end date, which includes £4,494,712 (2023: £3,525,159) due to the parent company.

 

The company has financial support from its parent company, which has confirmed this support will continue for a period of at least twelve months from approval of these financial statements and the parent company will not demand repayment of amounts owed to them of £4,494,712 during the same period. The parent company has use of a revolving credit facility of up to $6m that is due for repayment by December 2025 and is currently in negotiations to extend this facility therefore the directors believe the parent company will be able to continue supporting the UK company for a period of at least twelve months, however the directors acknowledge there is material uncertainty over obtaining this extension as at the date of approval of these financial statements.

 

Consequently, the directors are confident that the company will continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Green Park Snacks Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 4
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stock

Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Green Park Snacks Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 5
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Green Park Snacks Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 6

There are tax losses available to use against future taxable profits.

 

A deferred tax asset has not been recognised on the losses carried forward due to the uncertainty of future timing reversals.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Share-based payments

The fair value of equity-settled share based payments to employees is determined at the date of grant and is expensed on a straight-line basis over the vesting period. The fair value reflects the company's estimate of the shares or options that will eventually vest.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 3 (2023 - 5).

2024
2023
Number
Number
Total
3
5
Green Park Snacks Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 7
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
111,887
Additions
59,082
At 31 December 2024
170,969
Depreciation and impairment
At 1 January 2024
67,936
Depreciation charged in the year
42,929
At 31 December 2024
110,865
Carrying amount
At 31 December 2024
60,104
At 31 December 2023
43,951
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
54,279
168,076
Other debtors
16,969
26,915
Prepayments and accrued income
34,621
32,920
105,869
227,911
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
69,915
171,272
Amounts owed to group undertakings
4,494,712
3,525,159
Taxation and social security
21,124
8,205
Other creditors
2,023
1,656
Accruals and deferred income
249,310
263,875
4,837,084
3,970,167
Green Park Snacks Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 8
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
4,267,927
4,267,927
4,267,927
4,267,927
7
Share-based payment transactions

During the year ended 31 December 2024 500 share options expired as an employee left the company. No options remain exercisable at the balance sheet date.

8
Audit report information

The auditor's report was unqualified.

The senior statutory auditor was Jeremy Read and the auditor was Moore Kingston Smith LLP.
9
Related party transactions

At the period end, an amount of £4,494,712 (2023: £3,525,159) was due to the parent company, Hippeas, Inc.

10
Controlling Party

The company is a 100% subsidiary of Hippeas, Inc, a company registered in Delaware.


There is no ultimate controlling party.

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