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REGISTERED NUMBER: 13566771 (England and Wales)












CHELSEA GREEN ENGINES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024






CHELSEA GREEN ENGINES LIMITED (REGISTERED NUMBER: 13566771)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CHELSEA GREEN ENGINES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: Mr H D Gamble
Mr R J Allard





REGISTERED OFFICE: 2nd Floor
1 Putney High Street
Putney
London
SW15 1SZ





REGISTERED NUMBER: 13566771 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

CHELSEA GREEN ENGINES LIMITED (REGISTERED NUMBER: 13566771)

BALANCE SHEET
30 NOVEMBER 2024

30.11.24 30.11.23
Notes $    $   
CURRENT ASSETS
Debtors 4 101,900 100,130
Cash at bank 6,112 19,482
108,012 119,612
CREDITORS
Amounts falling due within one year 5 19,275 15,064
NET CURRENT ASSETS 88,737 104,548
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,737

104,548

CREDITORS
Amounts falling due after more than one
year

6

298,441

182,399
NET LIABILITIES (209,704 ) (77,851 )

CAPITAL AND RESERVES
Called up share capital 7 130 130
Retained earnings 8 (209,834 ) (77,981 )
SHAREHOLDERS' FUNDS (209,704 ) (77,851 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2025 and were signed on its behalf by:



Mr H D Gamble - Director


CHELSEA GREEN ENGINES LIMITED (REGISTERED NUMBER: 13566771)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


1. STATUTORY INFORMATION

Chelsea Green Engines Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in US dollar being the most relevant currency for the company.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into US dollar at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

CHELSEA GREEN ENGINES LIMITED (REGISTERED NUMBER: 13566771)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


2. ACCOUNTING POLICIES - continued

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 using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or whenthe companytransfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

Debtors do not carry interest and are stated at their nominal value.

Trade creditors are not interest-bearing and are stated at their nominal value.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligationsexpire or are discharged or cancelled.

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.

Going concern
As at the year end the company has net liabilities of £209,704 (2023: £77,851) and rely on funds from its directors to run its day to day business. The directors have confirmed that they will continue to support the company for the foreseeable future. These accounts have therefore been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

CHELSEA GREEN ENGINES LIMITED (REGISTERED NUMBER: 13566771)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
$    $   
Other debtors 100,000 100,130
VAT 1,900 -
101,900 100,130

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
$    $   
Trade creditors 4,206 -
Other creditors 13,374 13,374
Accrued expenses 1,695 1,690
19,275 15,064

Included in other creditors is an amount of $13,374 (2023: $13,374) due to Plane Invest Ltd, a connected company. The loan is unsecured, interest free and repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
$    $   
Other creditors 298,441 122,774
Directors' loan accounts - 59,625
298,441 182,399

Included in other creditors are amounts due to connected companies, $Nil (2023: $11,357) due to Aerohal Ltd and $298,441 (2023: $111,417) to PB Leasing Aircraft No.9 Limited.
All the loans are unsecured, interest free and repayable on demand.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: $    $   
100 Ordinary A $1.3 130 130

8. RESERVES
Retained
earnings
$   

At 1 December 2023 (77,981 )
Deficit for the year (131,853 )
At 30 November 2024 (209,834 )

CHELSEA GREEN ENGINES LIMITED (REGISTERED NUMBER: 13566771)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R J Allard.