REGISTERED NUMBER: 04932432 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

GREENSALE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G C Kerr

Mr A C McCredie

SECRETARY:

Mr A C McCredie

REGISTERED OFFICE:

Highbrow Nelson

Dalston

Carlisle

Cumbria

CA5 7LE

REGISTERED NUMBER:

04932432 (England and Wales)

ACCOUNTANTS:

DCB Accountants Limited

Compton House

104 Scotland Road

Penrith

Cumbria

CA11 7NR

FIXED ASSETS

Tangible assets

4

80,131

82,490

Investments

5

370,000

370,000

450,131

452,490

CURRENT ASSETS

Stocks

6

6,275

7,535

Debtors

7

1,804

65

Cash at bank

5,006

25,024

13,085

32,624

CREDITORS

Amounts falling due within one year

8

318,204

311,081

NET CURRENT LIABILITIES

(305,119

)

(278,457

)

TOTAL ASSETS LESS CURRENT LIABILITIES

145,012

174,033

CREDITORS

Amounts falling due after more than one year

9

59,800

59,800

NET ASSETS

85,212

114,233

CAPITAL AND RESERVES

Called up share capital

10

300

300

Retained earnings

11

84,912

113,933

SHAREHOLDERS' FUNDS

85,212

114,233

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 6th February 2025 and were signed on its behalf by:

Mr G C Kerr - Director

1.	STATUTORY INFORMATION

Greensale 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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

2% on cost

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1st January 2024

and 31st December 2024

111,324

25,932

137,256

DEPRECIATION

At 1st January 2024

29,362

25,404

54,766

Charge for year

2,227

132

2,359

At 31st December 2024

31,589

25,536

57,125

NET BOOK VALUE

At 31st December 2024

79,735

396

80,131

At 31st December 2023

81,962

528

82,490

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2024

and 31st December 2024

370,000

NET BOOK VALUE

At 31st December 2024

370,000

At 31st December 2023

370,000

This investment represents 457 £1 Ordinary Shares in Solway Light Aviation Limited; a company which is

wholly owned by and under the control of the Directors of Greensale Limited. The investment is stated at the

cost to the Company and the Directors have no plans to dispose of this investment in the foreseeable future.

6.

STOCKS

31.12.24

31.12.23

£

£

Stock of fuel

6,275

7,535

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

1,804

65

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

1,786

4,595

Social security and other taxes

928

996

Loan - S L A Limited

315,490

305,490

318,204

311,081

The Company received loan advances from Solway Light Aviation Limited during the year . This company is wholly owned and controlled by the Directors of Greensale Limited.

At the 31 December 2024, the total amount owed to Solway Light Aviation Limited was £315,490 (31 December 2022 - £305,490).

The Directors have confirmed that the loan outstanding to S L A Limited is not expected to become repayable for the foreseeable future.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Director's loan account

59,800

59,800

The loans made to the Company by the Directors represent a long term investment, which is not expected

to be repaid in the foreseeable future.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

300

Ordinary

£1

300

300

11.

RESERVES

Retained

earnings

£

At 1st January 2024

113,933

Deficit for the year

(29,021

)

At 31st December 2024

84,912