Greenville IDC Limited 31/12/2024 iXBRL

Company registration number: NI013581

Greenville IDC Limited

Filleted financial statements

31 December 2024

Greenville IDC Limited

Contents

Directors and other information

Directors responsibilities statement

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Greenville IDC Limited

Directors and other information


	Directors	Mr Brian Atkinson
		Mrs Karen Connolly


	Secretary	Karen Connolly


	Company number	NI013581


	Registered office	16 Cedarhurst Road
		Newtownbreda
		Belfast
		BT8 7RH


	Business address	16 Cedarhurst Road
		Newtownbreda
		Belfast
		BT8 7RH


	Auditor	Finegan Gibson Ltd
		Finegan Gibson Ltd
		Causeway Tower
		Belfast
		BT2 8DN


	Accountants	Finegan Gibson
		2nd Floor Causeway Tower
		9 James Street South
		Belfast
		BT2 8DN




	Bankers	Danske Bank
		Donegall Square West
		Belfast
		BT1 6JS

Greenville IDC Limited

Directors responsibilities statement

Year ended 31 December 2024

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Greenville IDC Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	987,183		997,589
		_______		_______
			987,183		997,589

Current assets
Stocks		1,935,759		2,448,765
Debtors	6	2,781,709		2,335,111
Cash at bank and in hand		44,773		43,358
		_______		_______
		4,762,241		4,827,234
Creditors: amounts falling due
within one year	7	( 2,716,135)		( 2,946,034)
		_______		_______
Net current assets			2,046,106		1,881,200
			_______		_______
Total assets less current liabilities			3,033,289		2,878,789

Creditors: amounts falling due
after more than one year	8		( 821,816)		( 1,146,398)
			_______		_______
Net assets			2,211,473		1,732,391
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			2,211,471		1,732,389
			_______		_______
Shareholders funds			2,211,473		1,732,391
			_______		_______

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 19 September 2025 , and are signed on behalf of the board by:

Mr Brian Atkinson

Director

Company registration number: NI013581

Greenville IDC Limited

Statement of changes in equity

Year ended 31 December 2024

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 January 2023	2	1,458,643	1,458,645

Profit for the year		273,746	273,746
	_______	_______	_______
Total comprehensive income for the year	-	273,746	273,746

	_______	_______	_______
At 31 December 2023 and 1 January 2024	2	1,732,389	1,732,391

Profit for the year		479,082	479,082
	_______	_______	_______
Total comprehensive income for the year	-	479,082	479,082

	_______	_______	_______
At 31 December 2024	2	2,211,471	2,211,473
	_______	_______	_______

Greenville IDC Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 16 Cedarhurst Road, Newtownbreda, Belfast, BT8 7RH.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

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

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 42 (2023: 45 ).

5. Tangible assets

	Freehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	825,000	229,225	291,523	1,345,748
Additions	-	10,904	57,996	68,900
Disposals	-	( 119,191)	( 71,828)	( 191,019)
	_______	_______	_______	_______
At 31 December 2024	825,000	120,938	277,691	1,223,629
	_______	_______	_______	_______
Depreciation
At 1 January 2024	-	172,706	175,453	348,159
Charge for the year	-	21,796	57,510	79,306
Disposals	-	( 119,191)	( 71,828)	( 191,019)
	_______	_______	_______	_______
At 31 December 2024	-	75,311	161,135	236,446
	_______	_______	_______	_______
Carrying amount
At 31 December 2024	825,000	45,627	116,556	987,183
	_______	_______	_______	_______
At 31 December 2023	825,000	56,519	116,070	997,589
	_______	_______	_______	_______

6. Debtors

	2024	2023
	£	£
Trade debtors	2,755,275	2,262,100
Other debtors	26,434	73,011
	_______	_______
	2,781,709	2,335,111
	_______	_______

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	389,151	1,072,084
Trade creditors	1,980,630	1,582,212
Corporation tax	163,704	194,628
Social security and other taxes	125,014	37,414
Other creditors	57,636	59,696
	_______	_______
	2,716,135	2,946,034
	_______	_______

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	75,172	171,931
Other creditors	746,644	974,467
	_______	_______
	821,816	1,146,398
	_______	_______

9. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	40,523	45,247
Later than 1 year and not later than 5 years	41,291	60,099
	_______	_______
	81,814	105,346
	_______	_______

10. Summary audit opinion

The auditor's report dated 19 September 2025 was unqualified.

The senior statutory auditor was Conor Dolan for and on behalf of Finegan Gibson Ltd

11. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2024
		Balance brought forward	Amounts repaid	Balance o/standing
		£	£	£
	Mr Brian Atkinson	( 444,051)	96,271	( 347,780)
	Mrs Karen Connolly	( 470,317)	112,744	( 357,573)
		_______	_______	_______
		( 914,368)	209,015	( 705,353)
		_______	_______	_______

2023
		Balance brought forward	Amounts repaid	Balance o/standing
		£	£	£
	Mr Brian Atkinson	( 559,738)	115,687	( 444,051)
	Mrs Karen Connolly	( 585,054)	114,737	( 470,317)
		_______	_______	_______
		( 1,144,792)	230,424	( 914,368)
		_______	_______	_______