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Company No: 04811241 (England and Wales)

# GREENSTONE DATA SOLUTIONS LIMITED

### Unaudited Financial Statements
For the financial year ended 31 May 2025
Pages for filing with the registrar

GREENSTONE DATA SOLUTIONS LIMITED

## Unaudited Financial Statements

For the financial year ended 31 May 2025

Contents

GREENSTONE DATA SOLUTIONS LIMITED

## COMPANY INFORMATION

For the financial year ended 31 May 2025
GREENSTONE DATA SOLUTIONS LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 May 2025

Directors | David Ball
| Jonathan Hinkley

Secretary | Grace Hinkley

Registered office | 2nd Floor 168 Shoreditch High Street
| London
| E1 6RA
| United Kingdom

Company number | 04811241 (England and Wales)

Accountant | Kreston Reeves LLP
| 2nd Floor, Maritime Place
| Quayside
| Chatham Maritime
| Chatham
| Kent
| ME4 4QZ

## ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GREENSTONE DATA SOLUTIONS LIMITED

For the financial year ended 31 May 2025

## ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GREENSTONE DATA SOLUTIONS LIMITED (continued)

For the financial year ended 31 May 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Greenstone Data Solutions Limited for the financial year ended 31 May 2025 which comprise the Balance Sheet and the related notes 1 to 12 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

This report is made solely to the Board of Directors of Greenstone Data Solutions Limited, as a body, in accordance with the terms of our engagement letter dated 11 May 2026. Our work has been undertaken solely to prepare for your approval the financial statements of Greenstone Data Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Greenstone Data Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Greenstone Data Solutions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Greenstone Data Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Greenstone Data Solutions Limited. You consider that Greenstone Data Solutions Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Greenstone Data Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kreston Reeves LLP

2nd Floor, Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ

19 May 2026

GREENSTONE DATA SOLUTIONS LIMITED

## BALANCE SHEET

As at 31 May 2025
GREENSTONE DATA SOLUTIONS LIMITED

## BALANCE SHEET (continued)

As at 31 May 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 8,621 |  | 11,495
|  | 8,621 |  | 11,495
Current assets |  |  |  |
Debtors | 5 | 82,511 |  | 230,734
Cash at bank and in hand |  | 8,308 |  | 13,110
|  | 90,819 |  | 243,844
Creditors: amounts falling due within one year | 6 | ( 416,115) |  | ( 456,869)
Net current liabilities |  | (325,296) |  | (213,025)
Total assets less current liabilities |  | (316,675) |  | (201,530)
Creditors: amounts falling due after more than one year | 7 | ( 10,250) |  | ( 17,500)
Provision for liabilities | 8 | ( 1,342) |  | ( 1,653)
Net liabilities |  | ( 328,267) |  | ( 220,683)
Capital and reserves |  |  |  |
Called-up share capital | 9 | 300 |  | 300
Profit and loss account |  | ( 328,567 ) |  | ( 220,983 )
Total shareholders' deficit |  | ( 328,267) |  | ( 220,683)

For the financial year ending 31 May 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 Greenstone Data Solutions Limited (registered number: 04811241) were approved and authorised for issue by the Board of Directors on 19 May 2026. They were signed on its behalf by:

Jonathan Hinkley Director |

GREENSTONE DATA SOLUTIONS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025
GREENSTONE DATA SOLUTIONS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025

##### 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

Greenstone Data Solutions 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 2nd Floor 168 Shoreditch High Street, London, E1 6RA, United Kingdom.
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 Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### 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 Balance Sheet.

##### 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 Balance Sheet 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.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 10 years straight line
Development costs | 10 years straight line

###### Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property 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:

Fixtures and fittings | 25 % reducing balance
Office equipment | 25 % reducing balance
Computer 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.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

##### 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

##### Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 4 |  | 7

#### 3. Intangible assets

| Goodwill |  | Development costs |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 June 2024 | 1,600,000 |  | 306,487 |  | 1,906,487
At 31 May 2025 | 1,600,000 |  | 306,487 |  | 1,906,487
Accumulated amortisation |  |  |  |  |
At 01 June 2024 | 1,600,000 |  | 306,487 |  | 1,906,487
At 31 May 2025 | 1,600,000 |  | 306,487 |  | 1,906,487
Net book value |  |  |  |  |
At 31 May 2025 | 0 |  | 0 |  | 0
At 31 May 2024 | 0 |  | 0 |  | 0

#### 4. Tangible assets

| Fixtures and fittings |  | Office equipment |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 June 2024 | 362,928 |  | 1,270 |  | 28,040 |  | 392,238
At 31 May 2025 | 362,928 |  | 1,270 |  | 28,040 |  | 392,238
Accumulated depreciation |  |  |  |  |  |  |
At 01 June 2024 | 357,825 |  | 1,069 |  | 21,849 |  | 380,743
Charge for the financial year | 1,276 |  | 50 |  | 1,548 |  | 2,874
At 31 May 2025 | 359,101 |  | 1,119 |  | 23,397 |  | 383,617
Net book value |  |  |  |  |  |  |
At 31 May 2025 | 3,827 |  | 151 |  | 4,643 |  | 8,621
At 31 May 2024 | 5,103 |  | 201 |  | 6,191 |  | 11,495

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 80,051 |  | 140,100
Prepayments and accrued income | 2,460 |  | 13,118
Other debtors | 0 |  | 77,516
| 82,511 |  | 230,734

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 10,000 |  | 10,000
Trade creditors | 89,675 |  | 53,109
Amounts owed to directors | 227,305 |  | 15,889
Other loans | 43,373 |  | 79,262
Accruals and deferred income | 33,158 |  | 3,650
Corporation tax | 1,169 |  | 25,291
Other taxation and social security | 11,103 |  | 266,332
Other creditors | 332 |  | 3,336
| 416,115 |  | 456,869

Included in other loans are amounts of £43,373 (2024 - £79,262) which were secured by way of a fixed and floating charge over the assets of the company.

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 10,250 |  | 17,500

There are no amounts included above in respect of which any security has been given by the small entity.

#### 8. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 1,653) |  | ( 2,317)
Credited to the Statement of Income and Retained Earnings | 311 |  | 664
At the end of financial year | ( 1,342) |  | ( 1,653)

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
3,000,000 Ordinary shares of £ 0.0001 each | 300 |  | 300

#### 10. Financial commitments

Pensions

The Company operates a defined contributions pension scheme. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,726 (2024 - £4,885). Contributions totalling £336 (2024 - £3,336) were payable to the fund at the balance sheet date and are included in creditors.

#### 11. Related party transactions

Other related party transactions

At 31 May 2025, the company owed the directors £227,305 (2024: £15,888).

#### 12. Ultimate controlling party

The directors considers there to be no ultimate controlling party.