Company No: 13585646 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	77,587		111,713
		77,587		111,713
Current assets
Debtors	4	172,027		253,213
Cash at bank and in hand		17,221		26,426
		189,248		279,639
Creditors: amounts falling due within one year	5	( 214,440)		( 329,580)
Net current liabilities		(25,192)		(49,941)
Total assets less current liabilities		52,395		61,772
Creditors: amounts falling due after more than one year	6	0		( 9,687)
Provision for liabilities	7	( 14,273)		( 18,869)
Net assets		38,122		33,216
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		38,022		33,116
Total shareholders' funds		38,122		33,216

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Greenlight Highways Limited (registered number: 13585646) were approved and authorised for issue by the Board of Directors on 12 May 2026. They were signed on its behalf by:

Mr R L Dowell Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Greenlight Highways Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp Brook House, Manor Drive, Clyst St Mary, Exeter, EX5 1GD, United Kingdom. The principal place of business is Exjet House, Torbay Business Park, 30 Woodview Road, Paignton, Devon, TQ4 7HP.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liability of £21,082. The Company is supported through loans from the group companies. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the group companies will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	5 years straight line
Vehicles	25 % reducing balance
Office equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	10		13

3. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£
Cost
At 01 January 2025	160,709		9,391		5,177		175,277
Additions	3,153		0		0		3,153
Disposals	0		( 5,500)		0		( 5,500)
At 31 December 2025	163,862		3,891		5,177		172,930
Accumulated depreciation
At 01 January 2025	57,807		3,567		2,190		63,564
Charge for the financial year	32,369		629		747		33,745
Disposals	0		( 1,966)		0		( 1,966)
At 31 December 2025	90,176		2,230		2,937		95,343
Net book value
At 31 December 2025	73,686		1,661		2,240		77,587
At 31 December 2024	102,902		5,824		2,987		111,713

4. Debtors

	2025		2024
	£		£
Trade debtors	112,353		160,238
Amounts owed by connected companies	50		0
Amounts owed by directors	0		16,458
Prepayments and accrued income	46,880		66,614
VAT recoverable	12,744		0
Other debtors	0		9,903
	172,027		253,213

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	48,356		59,015
Trade creditors	51,813		70,211
Amounts owed to joint ventures	33,438		100,360
Amounts owed to connected companies	10,500		10,500
Amounts owed to directors	190		0
Accruals and deferred income	39,547		12,637
Taxation and social security	17,972		56,718
Obligations under finance leases and hire purchase contracts (secured)	9,687		19,374
Other creditors	2,937		765
	214,440		329,580

Hire Purchase borrowings are secured on the individual assets taken out on hire purchase.

Bank loans shown above are secured by a fixed and floating charge over the assets of the company.

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

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts (secured)	0		9,687

Hire Purchase borrowings are secured on the individual assets taken out on hire purchase.

7. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 18,869)		( 35,033)
Credited to the Statement of Income and Retained Earnings	4,596		16,164
At the end of financial year	( 14,273)		( 18,869)

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Financial commitments

Commitments

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

	2025		2024
	£		£
within one year	13,500		4,975
between one and five years	14,625		15,037
Total future minimum lease payments under non-cancellable operating leases	28,125		20,012

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2025		2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	2,936		1,212

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Balance owed (to)/from directors	0		16,458

There is no fixed date for repayment of balances owed (to)/from the directors. Interest on overdrawn balances over £10,000 is charged at the rate stipulated by HMRC.