Company registration number 07185491 (England and Wales)
GREENPOWER PARK LIMITED (PREVIOUSLY COVENTRY AIRPORT LIMITED)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
GREENPOWER PARK LIMITED (PREVIOUSLY COVENTRY AIRPORT LIMITED)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 11
GREENPOWER PARK LIMITED (PREVIOUSLY COVENTRY AIRPORT LIMITED)
BALANCE SHEET
AS AT 31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
5
-
573,825
Investment property
6
2,488,165
7,324,547
2,488,165
7,898,372
Current assets
Stocks
7
7,647,484
55,670
Debtors
8
1,092,254
342,274
Cash at bank and in hand
248,478
308,185
8,988,216
706,129
Creditors: amounts falling due within one year
9
(5,210,816)
(2,062,954)
Net current assets/(liabilities)
3,777,400
(1,356,825)
Total assets less current liabilities
6,265,565
6,541,547
Provisions for liabilities
(1,303,204)
(1,341,212)
Net assets
4,962,361
5,200,335
Capital and reserves
Called up share capital
11
1
1
Other non-distributable reserve
12
-
0
181,013
Profit and loss reserves
12
4,962,360
5,019,321
Total equity
4,962,361
5,200,335

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 12 August 2026 and are signed on its behalf by:
Ms S J Stacey
Director
Company registration number 07185491 (England and Wales)
GREENPOWER PARK LIMITED (PREVIOUSLY COVENTRY AIRPORT LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -
1
Accounting policies
Company information

Greenpower Park Limited (Previously Coventry Airport Limited) is a private company limited by shares incorporated in England and Wales. The registered office is Rowley Road, Coventry, Warwickshire, CV3 4FR.

Change of company name

Post year end on 2 July 2026, the entity changed its name from Coventry Airport Limited to Greenpower Park Limited.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue is measured at fair value of the consideration received or receivable and represents amounts receivable for goods and services rendered, stated net of discounts and Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity. Revenue for services is recognised in the period in which they are rendered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
5-20 years
Runways and long leasehold land & buildings
5-50 years

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.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

GREENPOWER PARK LIMITED (PREVIOUSLY COVENTRY AIRPORT LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 3 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
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.

GREENPOWER PARK LIMITED (PREVIOUSLY COVENTRY AIRPORT LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 4 -
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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.

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 paymen ts 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. A m ounts 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.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

GREENPOWER PARK LIMITED (PREVIOUSLY COVENTRY AIRPORT LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 5 -
1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s 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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
13
11
GREENPOWER PARK LIMITED (PREVIOUSLY COVENTRY AIRPORT LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 6 -
4
Gain/(loss) on revaluation of property
2026
2025
£
£
Fair value gains/(losses)
Gain/(loss) on investment properties
(131,450)
311,486
5
Tangible fixed assets
Plant and machinery etc
Runways and long leasehold land & buildings
Total
£
£
£
Cost or valuation
At 1 April 2025
254,720
646,897
901,617
Transfers
-
0
(646,897)
(646,897)
At 31 March 2026
254,720
-
0
254,720
Depreciation and impairment
At 1 April 2025
254,720
73,072
327,792
Depreciation charged in the year
-
0
1,456
1,456
Transfers
-
0
(74,528)
(74,528)
At 31 March 2026
254,720
-
0
254,720
Carrying amount
At 31 March 2026
-
0
-
0
-
0
At 31 March 2025
-
0
573,825
573,825
GREENPOWER PARK LIMITED (PREVIOUSLY COVENTRY AIRPORT LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
6
Investment property
2026
£
Fair value
At 1 April 2025
7,324,548
Transfers
(4,704,933)
Revaluations
(131,450)
At 31 March 2026
2,488,165

The fair value of the company's investment property, comprising entirely long leasehold properties, was determined based on a valuation carried out in March 2025 by CBRE UK, an independent valuer with no connection to the company, in accordance with the RICS Valuation – Global Standards.

In Ju ly 2025, some of the investment properties were transferred to inventories as work in progress following a change in direction of the company's operations from an airport site to property development. Management considered that there had been no material change in the property's fair value between the March 2025 external valuation date and the date of transfer. Accordingly, the transferred amount was recognised at the March 2025 valuation.

As at 31 March 2026, the valuation of the remaining investment property was assessed by management using the same valuation methodology and assumptions applied by the external valuer in March 2025.

The historical cost of investment properties previously held at fair value was £73,246 (2025: £1,959,701).

7
Stocks
2026
2025
£
£
Goods for resale - aviation fuel
21,287
55,670
Work in progress
7,626,197
-
7,647,484
55,670
8
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
201,005
153,094
Corporation tax recoverable
126,396
-
0
Amounts owed by group undertakings
1,200
-
0
Other debtors
446,055
-
0
Prepayments and accrued income
294,458
80,425
1,069,114
233,519
Deferred tax asset (note 10)
23,140
108,755
1,092,254
342,274
GREENPOWER PARK LIMITED (PREVIOUSLY COVENTRY AIRPORT LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 8 -
9
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
350,244
107,460
Amounts owed to group undertakings
4,551,296
1,495,171
Taxation and social security
10,038
29,597
Deferred income
148,274
136,856
Other creditors
11,448
9,890
Accruals and deferred income
139,516
283,980
5,210,816
2,062,954

Amounts owed to parent undertakings bear interest at 0% at the balance sheet date, this is unsecured and repayable on demand. However the parent company has provided a letter of support to confirm that the loan will not be recalled in within 12 months of signing the financial statements.

10
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company:

Liabilities
Liabilities
Assets
Assets
2026
2025
2026
2025
Balances:
£
£
£
£
Accelerated capital allowances
-
-
23,140
24,116
Tax losses
699,474
-
-
81,275
Revaluations
603,730
1,341,212
-
-
Short term timing differences
-
-
-
3,364
1,303,204
1,341,212
23,140
108,755
2026
Movements in the year:
£
Liability at 1 April 2025
1,232,457
Charge to profit or loss
47,607
Liability at 31 March 2026
1,280,064
GREENPOWER PARK LIMITED (PREVIOUSLY COVENTRY AIRPORT LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
10
Deferred taxation
(Continued)
- 9 -

The reversal of deferred tax assets expected in the next 12 months to 31 March 2027 is £23,140. This is expected to arise because depreciation is anticipated to be lower than available capital allowances. the company does not anticipate utilising tax losses in the next financial period.

The reversal of deferred tax liabilities expected in the next 12 months to 31 March 2027 is £nil, as the company does not expect any deferred tax on property revaluations to crystalise in the next 12 months. However, further reversals (or further increases in deferred tax balances) may arise as a result of revaluations of investment property and changes in fair value of assets and liabilities. As any future deferred tax balances will be dependent on changes in these fair values throughout the associated period, it is not possible to estimate any further future reversals.

11
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
12
Reserves
Other non-distributable reserve

This reserve represents non-distributable reserves relating to unrealised p r o fit s of an investment property previously accounted for as tangible fixed assets. During the year the property was transferred to work in progress.

Profit and loss reserve

This represents cumulative profits or losses, including unrealised profit or remeasurement of investment properties, net of dividends paid and other adjustments.

13
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Colm McGrory FCA
Statutory Auditor:
Ormerod Rutter Limited
Date of audit report:
20 August 2026
GREENPOWER PARK LIMITED (PREVIOUSLY COVENTRY AIRPORT LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 10 -
14
Capital commitments

As at 31 March 2026 there were capital commitments of £11,630,188 (£2025: £0). During the year, GreenPower Park Limited entered into a contract with Matrix Networks Limited for the design and construction of infrastructure to deliver up to 50mVA of power to the Greenpower Park development. The contract was executed jointly with the Council of the City of Coventry, with both parties being jointly and severally liable. The capital commitment disclosed above represents the amount outstanding under this contract at 31 March 2026. The works are funded through an Investment Zone grant provided to the Council of the City of Coventry by the West Midlands Combined Authority.

15
Events after the reporting date

Subsequent to the reporting date, the company ceased its airport operations as part of a strategic change in the nature of its business.

As a result of this, the company changed its name from Coventry Airport Limited to Greenpower Park Limited. The name change reflects the company's revised business strategy and future operations.

These events occurred after the reporting date and, accordingly, have not resulted in adjustments to the amounts recognised in these financial statements, as they are considered non-adjusting events. Management does not believe that these events affect the company's financial position as at 31 March 2026.

GREENPOWER PARK LIMITED (PREVIOUSLY COVENTRY AIRPORT LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 11 -
16
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Purchases
Purchases
2026
2025
£
£
Other related parties
1,983,667
-
Management fees
Corporation tax group relief received
2026
2025
2026
2025
£
£
£
£
Entities with control, joint control or significant influence over the company
249,660
-
-
-
Other related parties
72,889
156,696
-
88,354
2026
2025
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
48,113
1,495,171
Other related parties
4,513,073
-

The following amounts were outstanding at the reporting end date:

2026
2025
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
1,200
-
17
Parent company

At the balance sheet date, the company was a wholly owned subsidiary of both its immediate parent company Greenpark Power Holdings Limited (formerly Coventry Airport Holdings Limited) and its ultimate parent company, Rigby Group (RG) plc. The Rigby Family controls the company as a result of being members of the group of trustees and the only beneficiaries of trusts which own 100% of the issues ordinary share capital and control 100% of the voting rights of Rigby Group (RG) plc.

The results of the company are consolidated into those of Rigby Group (RG) plc, legislated in England and Wales, whose registered address is Bridgeway, Stratford-upon-Avon, Warwickshire, CV37 6YX. the largest and smallest group of which the company is a member and for which consolidated financial statements are drawn up is that headed by Rigby Group (RG) plc, and copies of the financial statements of Rigby Group (RG) plc are available at the registered address.

2026-03-31 2025-04-01 false false false 20 August 2026 CCH Software CCH Accounts Production 2026.200 No description of principal activity Mr A M Bell Mrs K G Cook Mr R J Pace Mr M S Murray Ms S J Stacey 07185491 2025-04-01 2026-03-31 07185491 2026-03-31 07185491 2025-03-31 07185491 core:WithinOneYear 2026-03-31 07185491 core:WithinOneYear 2025-03-31 07185491 core:CurrentFinancialInstruments core:WithinOneYear 2026-03-31 07185491 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 07185491 core:ShareCapital 2026-03-31 07185491 core:ShareCapital 2025-03-31 07185491 core:RevaluationReserve 2026-03-31 07185491 core:RevaluationReserve 2025-03-31 07185491 core:RetainedEarningsAccumulatedLosses 2026-03-31 07185491 core:RetainedEarningsAccumulatedLosses 2025-03-31 07185491 core:ShareCapitalOrdinaryShareClass1 2026-03-31 07185491 core:ShareCapitalOrdinaryShareClass1 2025-03-31 07185491 bus:Director5 2025-04-01 2026-03-31 07185491 core:PlantMachinery 2025-04-01 2026-03-31 07185491 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2025-04-01 2026-03-31 07185491 2024-04-01 2025-03-31 07185491 core:OtherPropertyPlantEquipment 2025-03-31 07185491 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2025-03-31 07185491 2025-03-31 07185491 core:OtherPropertyPlantEquipment 2026-03-31 07185491 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2026-03-31 07185491 core:OtherPropertyPlantEquipment 2025-04-01 2026-03-31 07185491 core:OtherPropertyPlantEquipment 2025-03-31 07185491 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2025-03-31 07185491 core:CurrentFinancialInstruments 2026-03-31 07185491 core:CurrentFinancialInstruments 2025-03-31 07185491 bus:OrdinaryShareClass1 2025-04-01 2026-03-31 07185491 bus:OrdinaryShareClass1 2026-03-31 07185491 bus:OrdinaryShareClass1 2025-03-31 07185491 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2026-03-31 07185491 bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 07185491 bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 07185491 bus:FRS102 2025-04-01 2026-03-31 07185491 bus:Audited 2025-04-01 2026-03-31 07185491 bus:Director1 2025-04-01 2026-03-31 07185491 bus:Director2 2025-04-01 2026-03-31 07185491 bus:Director3 2025-04-01 2026-03-31 07185491 bus:Director4 2025-04-01 2026-03-31 07185491 bus:FullAccounts 2025-04-01 2026-03-31 xbrli:pure xbrli:shares iso4217:GBP