REGISTERED NUMBER: 07641869 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

GREENBELT MANAGEMENT UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A M Duthie

J McQuillan

A Middleton

G Murray

C D Thomson

A Cooper

REGISTERED OFFICE:

1175 Century Way

Thorpe Park

Leeds

West Yorkshire

LS15 8ZB

REGISTERED NUMBER:

07641869 (England and Wales)

AUDITORS:

Haines Watts Scotland

Business Advisors, Accountants and

Statutory Auditors

Q Court

3 Quality Street

Edinburgh

EH4 5BP

BANKERS:

Natwest

1st Floor

8 George Street

Edinburgh

EH2 2SB

SOLICITORS:

Brodies LLP

110 Queen Street

Glasgow

G1 3BX

FIXED ASSETS

Tangible assets

4

282,634

199,154

CURRENT ASSETS

Debtors

5

147,967

122,614

Cash at bank

1

1

147,968

122,615

CREDITORS

Amounts falling due within one year

6

(70,799

)

(81,665

)

NET CURRENT ASSETS

77,169

40,950

TOTAL ASSETS LESS CURRENT LIABILITIES

359,803

240,104

PROVISIONS FOR LIABILITIES

7

(70,659

)

(49,789

)

NET ASSETS

289,144

190,315

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

8

211,976

149,366

Retained earnings

8

77,167

40,948

289,144

190,315

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 22 September 2025 and were signed on its behalf by:

A Middleton - Director

1.	STATUTORY INFORMATION

Greenbelt Management UK 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 as modified by the revaluation of certain assets.

At the reporting date the Company had net assets of £289,144 (2024 - £190,315) and net current assets of £77,169 (2024 - £40,950).

The Directors consider that the Company continues to be a going concern and accordingly these financial statements are prepared on the going concern basis.

TURNOVER

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

·the amount of revenue can be measured reliably;

·it is probable that the Company will receive the consideration due under the contract;

·the stage of completion of the contract at the end of the reporting period can be measured reliably; and

·the costs incurred and the costs to complete the contract can be measured reliably.

TANGIBLE FIXED ASSETS

Tangible fixed assets comprises land which is stated at valuation. Revaluation gains and losses are recognised in the Statement of Comprehensive Income.

The Directors consider the need for impairment of tangible fixed assets as part of the revaluation process which is performed annually.

Land is not depreciated.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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.

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 April 2024

199,154

Revaluations

83,480

At 31 March 2025

282,634

NET BOOK VALUE

At 31 March 2025

282,634

At 31 March 2024

199,154

Land has been revalued in the year by the directors on an existing use basis following the principles of a third party valuation carried out by professional valuation and advisory firm RSM in 2022.

Cost or valuation at 31 March 2025 is represented by:

Land and

buildings

£

Valuation in 2025

282,634

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

47,991

47,453

Amounts owed by group undertakings

99,976

75,161

147,967

122,614

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

17,356

-

Amounts owed to group undertakings

4,125

1,000

Tax

10,342

6,759

Other creditors

10,570

23,876

Accruals and deferred income

28,406

50,030

70,799

81,665

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

7.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

70,659

49,789

Deferred

tax

£

Balance at 1 April 2024

49,789

Deferred tax on revaluation

20,870

Balance at 31 March 2025

70,659

8.

RESERVES

Revaluation reserve

The revaluation reserve represents surplus on the revaluation of land net of related deferred taxation.

Profit & loss account

The profit and loss account includes all current and prior periods' retained profits and losses.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Craig Hunter (Senior Statutory Auditor)

for and on behalf of Haines Watts Scotland

10.	CONTINGENT LIABILITIES

The Company is party to an inter-company guarantee of up to £3,125,000 with Greenbelt Holdings Limited, Growing Estates Limited, Greenbelt Group Limited and Greenbelt Property Limited relating to a Coronavirus Business Loan Facility held by Greenbelt Group Limited. The security is supported by debentures and bonds, and floating charges over the assets of the Company. Greenbelt Holdings Limited is the Company's parent undertaking with the other companies noted being fellow subsidiary undertakings.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

The Company's immediate and ultimate parent undertaking is Greenbelt Holdings Limited, a company registered in Scotland, registered office Mccafferty House, 99 Firhill Road, Glasgow, G20 7BE, which is the smallest and largest group of companies for which group financial statements are prepared. Copies of the financial statements of Greenbelt Holdings Limited are available to the public from Companies House, Crown Way, Cardiff, CF14 3UZ.

In the opinion of the Directors, the ultimate controlling party of the Company is A Middleton, the main shareholder of Greenbelt Holdings Limited.