REGISTERED NUMBER: SC476007 (Scotland)

Unaudited Financial Statements for the Year Ended 31 May 2025

for

Greyscale Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M Traversa

REGISTERED OFFICE:

10 College Gardens

Rutherglen

Glasgow

G73 3PU

REGISTERED NUMBER:

SC476007 (Scotland)

ACCOUNTANTS:

Greg Hannah Ltd

Chartered Accountants

26 Victoria Street

Rutherglen

Glasgow

G73 1DS

FIXED ASSETS

Tangible assets

5

334,015

97,801

CURRENT ASSETS

Debtors

6

706,238

685,641

Cash at bank

1,815,209

990,615

2,521,447

1,676,256

CREDITORS

Amounts falling due within one year

7

408,361

335,311

NET CURRENT ASSETS

2,113,086

1,340,945

TOTAL ASSETS LESS CURRENT LIABILITIES

2,447,101

1,438,746

CREDITORS

Amounts falling due after more than one year

8

-

(20,457

)

PROVISIONS FOR LIABILITIES

(32,177

)

(24,449

)

NET ASSETS

2,414,924

1,393,840

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

2,414,914

1,393,830

2,414,924

1,393,840

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 29 May 2026 and were signed by:

Mr M Traversa - Director

1.	STATUTORY INFORMATION

Greyscale Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Land and buildings

-

Straight line over 25 years

Plant and machinery etc

-

25% on reducing balance

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

The director believes that the company is experiencing good levels of profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 June 2024

-

136,529

136,529

Additions

210,212

61,471

271,683

Disposals

-

(3,163

)

(3,163

)

At 31 May 2025

210,212

194,837

405,049

DEPRECIATION

At 1 June 2024

-

38,728

38,728

Charge for year

4,905

30,114

35,019

Eliminated on disposal

-

(2,713

)

(2,713

)

At 31 May 2025

4,905

66,129

71,034

NET BOOK VALUE

At 31 May 2025

205,307

128,708

334,015

At 31 May 2024

-

97,801

97,801

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

83,508

89,455

Other debtors

622,730

596,186

706,238

685,641

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

10,228

Trade creditors

14,692

28,307

Taxation and social security

387,507

291,758

Other creditors

6,162

5,018

408,361

335,311

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

20,457

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

-

30,685

Hire purchase contracts are secured over the assets concerned.

10.	RELATED PARTY DISCLOSURES

At the 31st May 2025, the company owed Mr M Traversa (Director) £883 (2024: £204). This loan is interest free and has no fixed repayment terms.

During the year, Niroc Ltd, a company owned by the wife of Mr M Traversa (Director), invoiced the company a sum of £80,000 for services performed. These transactions were supplied at an arms length cost.