REGISTERED NUMBER: SC581921 (Scotland)

Greenheads Holdings Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G Storey

Mrs G Storey

REGISTERED OFFICE:

3 The Stables

Greenheads Road

North Berwick

East Lothian

EH39 4TD

REGISTERED NUMBER:

SC581921 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

Bank of Scotland

153 Portobello High Street

Edinburgh

EH15 1AG

FIXED ASSETS

Tangible assets

4

11,863

12,823

Investments

5

400

400

Investment property

6

1,260,000

1,260,000

1,272,263

1,273,223

CURRENT ASSETS

Debtors

7

418,051

414,411

Cash at bank

103,308

112,218

521,359

526,629

CREDITORS

Amounts falling due within one year

8

8,119

6,501

NET CURRENT ASSETS

513,240

520,128

TOTAL ASSETS LESS CURRENT LIABILITIES

1,785,503

1,793,351

PROVISIONS FOR LIABILITIES

36,027

38,369

NET ASSETS

1,749,476

1,754,982

CAPITAL AND RESERVES

Called up share capital

400

400

Fair value reserve

9

186,074

186,074

Retained earnings

9

1,563,002

1,568,508

1,749,476

1,754,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 31 October 2025 and were signed on its behalf by:

Mr G Storey - Director

1.	STATUTORY INFORMATION

Greenheads Holdings Limited is a private company, limited by shares , registered in Scotland. 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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the businesses accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover and revenue recognition

The turnover shown in the profit and loss account represents rental income receivable for the year.

Rent is recognised in accordance with the lease agreement.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery etc - 33% on cost and 10% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

Financial instruments

Financial instruments comprise financial assets and financial liabilities which are recognised when the company become a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS 102 and are accounted for at amortised cost using the effective interest method.The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial.

Financial assets at cost compromise bank, trade debtors and prepayments. Financial liabilities compromise accruals and other creditors.

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.

Going concern

The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade in the foreseeable future. In order to do so the company will require the continued support of its director.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

18,318

Additions

969

At 31 March 2025

19,287

DEPRECIATION

At 1 April 2024

5,495

Charge for year

1,929

At 31 March 2025

7,424

NET BOOK VALUE

At 31 March 2025

11,863

At 31 March 2024

12,823

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 April 2024

and 31 March 2025

400

NET BOOK VALUE

At 31 March 2025

400

At 31 March 2024

400

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,260,000

NET BOOK VALUE

At 31 March 2025

1,260,000

At 31 March 2024

1,260,000

The properties reflect fair value. The properties were revalued in November 2023 by a qualified valuer (Simpson Marwick). The directors have reviewed the valuations and they remain appropriate as at 31 March 2025.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2022

109,354

Valuation in 2023

100,367

Valuation in 2024

20,000

Cost

1,030,279

1,260,000

7.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

1,400

700

Amounts owed by group undertakings

121,518

112,720

Amounts receivable in respect of finance leases

28,133

33,110

Other debtors

67,000

67,881

218,051

214,411

Amounts falling due after more than one year:

Other debtors

200,000

200,000

Aggregate amounts

418,051

414,411

Within long term other debtors is a £200,000 loan advanced to a director. The loan is repayable over 25 years and interest is charged at 2.25% per annum.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

8,119

6,501

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2024

1,568,508

186,074

1,754,582

Deficit for the year

(5,506

)

(5,506

)

At 31 March 2025

1,563,002

186,074

1,749,076

The fair value reserve represents the net revaluation surplus on investment properties that is not readily distributable as realised earnings.