Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30true46true69false2023-10-01falseNo description of principal activitytruefalse 05692300 2023-10-01 2024-09-30 05692300 2022-10-01 2023-09-30 05692300 2024-09-30 05692300 2023-09-30 05692300 2022-10-01 05692300 2023-10-01 05692300 c:ContinuingOperations 2023-10-01 2024-09-30 05692300 c:ContinuingOperations 2022-10-01 2023-09-30 05692300 c:DiscontinuedOperations 2023-10-01 2024-09-30 05692300 c:DiscontinuedOperations 2022-10-01 2023-09-30 05692300 d:CompanySecretary1 2023-10-01 2024-09-30 05692300 d:Director1 2023-10-01 2024-09-30 05692300 d:Director2 2023-10-01 2024-09-30 05692300 d:Director3 2023-10-01 2024-09-30 05692300 d:Director3 2024-09-30 05692300 d:RegisteredOffice 2023-10-01 2024-09-30 05692300 c:Buildings 2023-10-01 2024-09-30 05692300 c:Buildings 2024-09-30 05692300 c:Buildings 2023-09-30 05692300 c:Buildings c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05692300 c:Buildings c:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 05692300 c:PlantMachinery 2023-10-01 2024-09-30 05692300 c:PlantMachinery 2024-09-30 05692300 c:PlantMachinery 2023-09-30 05692300 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05692300 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 05692300 c:MotorVehicles 2023-10-01 2024-09-30 05692300 c:MotorVehicles 2024-09-30 05692300 c:MotorVehicles 2023-09-30 05692300 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05692300 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 05692300 c:FurnitureFittings 2023-10-01 2024-09-30 05692300 c:FurnitureFittings 2024-09-30 05692300 c:FurnitureFittings 2023-09-30 05692300 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05692300 c:FurnitureFittings c:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 05692300 c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05692300 c:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 05692300 c:CurrentFinancialInstruments 2024-09-30 05692300 c:CurrentFinancialInstruments 2023-09-30 05692300 c:Non-currentFinancialInstruments 2024-09-30 05692300 c:Non-currentFinancialInstruments 2023-09-30 05692300 c:CurrentFinancialInstruments c:WithinOneYear 2024-09-30 05692300 c:CurrentFinancialInstruments c:WithinOneYear 2023-09-30 05692300 c:Non-currentFinancialInstruments c:AfterOneYear 2024-09-30 05692300 c:Non-currentFinancialInstruments c:AfterOneYear 2023-09-30 05692300 c:ReportableOperatingSegment1 2023-10-01 2024-09-30 05692300 c:ReportableOperatingSegment1 2022-10-01 2023-09-30 05692300 c:ReportableOperatingSegment2 2023-10-01 2024-09-30 05692300 c:ReportableOperatingSegment2 2022-10-01 2023-09-30 05692300 c:UKTax 2023-10-01 2024-09-30 05692300 c:UKTax 2022-10-01 2023-09-30 05692300 c:ShareCapital 2023-10-01 2024-09-30 05692300 c:ShareCapital 2024-09-30 05692300 c:ShareCapital 2023-09-30 05692300 c:ShareCapital 2022-10-01 05692300 c:SharePremium 2023-10-01 2024-09-30 05692300 c:SharePremium 2024-09-30 05692300 c:SharePremium 2023-09-30 05692300 c:SharePremium 2022-10-01 05692300 c:CapitalRedemptionReserve 2023-10-01 2024-09-30 05692300 c:CapitalRedemptionReserve 2024-09-30 05692300 c:CapitalRedemptionReserve 2023-09-30 05692300 c:CapitalRedemptionReserve 2022-10-01 05692300 c:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 05692300 c:RetainedEarningsAccumulatedLosses 2024-09-30 05692300 c:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 05692300 c:RetainedEarningsAccumulatedLosses 2023-09-30 05692300 c:RetainedEarningsAccumulatedLosses 2022-10-01 05692300 c:AcceleratedTaxDepreciationDeferredTax 2024-09-30 05692300 c:AcceleratedTaxDepreciationDeferredTax 2023-09-30 05692300 d:OrdinaryShareClass1 2023-10-01 2024-09-30 05692300 d:OrdinaryShareClass1 2024-09-30 05692300 d:OrdinaryShareClass1 2023-09-30 05692300 d:OrdinaryShareClass2 2023-10-01 2024-09-30 05692300 d:OrdinaryShareClass2 2024-09-30 05692300 d:FRS102 2023-10-01 2024-09-30 05692300 d:Audited 2023-10-01 2024-09-30 05692300 d:FullAccounts 2023-10-01 2024-09-30 05692300 d:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05692300 c:WithinOneYear 2024-09-30 05692300 c:WithinOneYear 2023-09-30 05692300 c:BetweenOneFiveYears 2024-09-30 05692300 c:BetweenOneFiveYears 2023-09-30 05692300 c:MoreThanFiveYears 2024-09-30 05692300 c:MoreThanFiveYears 2023-09-30 05692300 c:HirePurchaseContracts c:WithinOneYear 2024-09-30 05692300 c:HirePurchaseContracts c:WithinOneYear 2023-09-30 05692300 c:HirePurchaseContracts c:BetweenOneFiveYears 2024-09-30 05692300 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-09-30 05692300 c:HirePurchaseContracts c:MoreThanFiveYears 2024-09-30 05692300 c:HirePurchaseContracts c:MoreThanFiveYears 2023-09-30 05692300 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2024-09-30 05692300 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2023-09-30 05692300 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure

05692300







GREENWORKS WASHROOMS LTD

DIRECTORS' REPORT AND AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
30 SEPTEMBER 2024

































GREENWORKS WASHROOMS LTD
 
COMPANY INFORMATION


Directors
A. R. J. Warren 
C. G. Warren 
J. L. Small (appointed 21 June 2024)




Company secretary
A. R. J. Warren



Registered number
05692300



Registered office
Unit 1, Warsop Trading Estate
Hever Road

Edenbridge

Kent

TN8 5LD




Independent auditors
S&W Partners Audit Limited

Brockbourne House

77 Mount Ephraim

Tunbridge Wells

Kent

TN4 8BS





GREENWORKS WASHROOMS LTD

CONTENTS



Page
Strategic Report
 
 
1
Directors' Report
 
 
2 - 3
Independent Auditors' Report
 
 
4 - 7
Statement of Comprehensive Income
 
 
8
Balance Sheet
 
 
9
Statement of Changes in Equity
 
 
10
Notes to the Financial Statements
 
 
11 - 23


GREENWORKS WASHROOMS LTD
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Introduction
 
The directors present their strategic report for the year ended 30 September 2024. 
A restructure of the Greenworks group took place on 30 June 2023 to more accurately reflect the Group activities.  Following this the Directors took the decision to give the opportunity to long-term employees to participate in ownership of the Company, where those employees have been instrumental to the long-term growth of the business.  On 21 June 2024 474 B ordinary shares were acquired by Justine Small.

Business review
 
Washrooms trade (being the continuing operation following the restructure) showed a steady increase in Turnover and Customer Portfolio to £3,559K (2023: £3,267K) a growth of 9%, and a profit before tax of £193k (2023: £452K).  The reported profit before tax for the previous year includes a profit of £389k from the disposal of subsidiaries in relation to the restructure.
The coffee trade was recognised under discontinued operations in the previous year, for which turnover and profit before tax amounted to £3,930k and £426k respectively.  It should be noted that the coffee trade is now in Greenworks Coffee Ltd, a fellow group company, for year ended 30 September 2024 onwards.

Principal risks and uncertainties
 
Other than a degree of concern over the UK economy, the business is looking to achieve steady growth over the next 12 months. The business will be significantly affected by Government action to increase Company NI by 2% in April 2025. 

Financial key performance indicators
 
The key financial KPIs are:
Cash management and debt collection
Managing client retention:
Our termination rate on customers for Washrooms trade was 11% in the year to September 2024 (2023: 13%).

Other key performance indicators
 
We are a Living Wage employer and continue to retain staff by providing opportunities to progress and offer flexible working hours where we can to meet individual requirements.
We are ISO4001 accredited, and use this to bring about environment efficiencies and cost savings.


This report was approved by the board and signed on its behalf.



A. R. J. Warren
Director

Date: 6 June 2025

Page 1

GREENWORKS WASHROOMS LTD
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £176,222 (2023 - £760,384).

Dividends declared in the year were £60,000 (2023 - £790,566).

Directors

The directors who served during the year were:

A. R. J. Warren 
C. G. Warren 
J. L. Small (appointed 21 June 2024)

Future developments

There are no future developments other than those included within the introduction to the Strategic Report.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Page 2

GREENWORKS WASHROOMS LTD
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Post balance sheet events

There have been no significant events affecting the company since the year end.

Auditors

The auditorsS&W Partners Audit Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





A. R. J. Warren
Director

Date: 6 June 2025

Page 3

GREENWORKS WASHROOMS LTD
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREENWORKS WASHROOMS LTD

Opinion


We have audited the financial statements of Greenworks Washrooms Ltd (the 'company') for the year ended 30 September 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit 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.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 4

GREENWORKS WASHROOMS LTD
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREENWORKS WASHROOMS LTD (CONTINUED)

Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.


Page 5

GREENWORKS WASHROOMS LTD
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREENWORKS WASHROOMS LTD (CONTINUED)

Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained a general understanding of the company’s legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the entity’s policies and procedures regarding compliance, and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the company’s industry and regulation.
We understand that the company complies with the framework through:
Outsourcing accounts preparation and tax compliance to external experts, 
Subscribing to relevant updates from the external experts, and making changes to internal procedures and controls as necessary.

In the context of the audit, we considered those laws and regulations which determine the form and content of the financial statements, which are central to the company's ability to conduct its business, and where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the company; 
The Companies Act 2006 and FRS 102 in respect of the preparation and presentation of the financial statements.
UK taxation law.

The senior statutory auditor led a discussion with senior members of the engagement team regarding the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. The areas identified in this discussion were:
 
Manipulation of the financial statements, especially revenue, via fraudulent journal entries or fictitious sales invoices.
Inventory being overvalued due to incorrect costing methods, or inventory being recorded that does not physically exist.
Revenue recognised prematurely or deferred inappropriately to manipulate financial results.
Management charges being manipulated by allocating costs inappropriately between different entites.

The procedures we carried out to gain evidence in the above areas:
 
Challenging management regarding the assumptions and judgements used in the key accounting estimates and revenue recognition policy, including comparison to post year-end data as appropriate.
Occurrence testing on revenue to verify that sales were valid; completeness testing on creditors to ensure that all purchases in the year were correctly recorded; and testing of journal entries, particularly those which were posted outside of normal times or to unexpected accounts.
Testing journal entries, focusing particularly on postings to unexpected or unusual accounts and those posted at unusual times.
Conducting physical inventory counts and reconciling them with the inventory records to ensure accuracy.
Performing cut-off tests to verify that revenue is recognised in the correct accounting period and confirming sales transactions to source documentation.
Reviewing the basis and documentation for management charges, ensuring proper allocation.
 
Page 6

GREENWORKS WASHROOMS LTD
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREENWORKS WASHROOMS LTD (CONTINUED)

Overall, the senior statutory auditor was satisfied that the engagement team collectively had the appropriate competence and capabilities to identify or recognise irregularities.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Use of our report
 

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Matthew Neill BA (Hons) MA FCA (Senior Statutory Auditor)
  
for and on behalf of
S&W Partners Audit Limited
 
Statutory Auditors
  
Brockbourne House
77 Mount Ephraim
Tunbridge Wells
Kent
TN4 8BS

Date: 11 June 2025
Page 7

GREENWORKS WASHROOMS LTD
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Continuing operations
Discontin'd operations
Total
Continuing operations
Discontin'd operations
Total
2024
2024
2024
2023
2023
2023
Note
£
£
£
£
£
£

  

Turnover
 4 
3,863,593
-
3,863,593
3,266,881
3,930,476
7,197,357

Cost of sales
  
(1,045,378)
-
(1,045,378)
(674,264)
(2,127,789)
(2,802,053)

Gross profit
  
2,818,215
-
2,818,215
2,592,617
1,802,687
4,395,304

Administrative expenses
  
(2,673,498)
-
(2,673,498)
(3,074,444)
(1,377,090)
(4,451,534)

Other operating income
 5 
110,341
-
110,341
572,021
-
572,021

Operating profit
 6 
255,058
-
255,058
90,194
425,597
515,791

Profit on disposal of investments in subsidiaries
  
-
-
-
389,198
-
389,198

Interest payable and similar expenses
 10 
(62,311)
-
(62,311)
(27,297)
-
(27,297)

Profit before tax
  
192,747
-
192,747
452,095
425,597
877,692

Tax on profit
 11 
(16,525)
-
(16,525)
(60,425)
(56,883)
(117,308)

Profit for the financial year
  
176,222
-
176,222
391,670
368,714
760,384

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 11 to 23 form part of these financial statements.

Page 8

GREENWORKS WASHROOMS LTD
REGISTERED NUMBER:05692300

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 12 
974,929
864,042

Current assets
  

Stocks
 13 
135,310
110,871

Debtors: amounts falling due within one year
 14 
6,653,748
7,054,078

Cash at bank and in hand
 15 
96
96

  
6,789,154
7,165,045

Creditors: amounts falling due within one year
 16 
(5,761,696)
(6,175,644)

Net current assets
  
 
 
1,027,458
 
 
989,401

Total assets less current liabilities
  
2,002,387
1,853,443

Creditors: amounts falling due after more than one year
 17 
(302,822)
(301,100)

  

Net assets
  
1,699,565
1,552,343


Capital and reserves
  

Called up share capital 
 20 
95
90

Share premium account
 21 
30,995
-

Capital redemption reserve
 21 
10
10

Profit and loss account
 21 
1,668,465
1,552,243

  
1,699,565
1,552,343


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A. R. J. Warren
Director

Date: 6 June 2025

The notes on pages 11 to 23 form part of these financial statements.

Page 9

GREENWORKS WASHROOMS LTD

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 October 2022
90
-
10
1,582,425
1,582,525



Profit for the year
-
-
-
760,384
760,384

Dividends
-
-
-
(790,566)
(790,566)



At 1 October 2023
90
-
10
1,552,243
1,552,343



Profit for the year
-
-
-
176,222
176,222

Dividends
-
-
-
(60,000)
(60,000)

Shares issued during the year
5
30,995
-
-
31,000


At 30 September 2024
95
30,995
10
1,668,465
1,699,565


The notes on pages 11 to 23 form part of these financial statements.

Page 10

GREENWORKS WASHROOMS LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Greenworks Washrooms Ltd ('the company') is a limited company limited by shares and domiciled and incorporated in England and Wales.
The address of its registered office and place of business is Unit 1, Warsop Trading Estate, Hever     Road, Edenbridge, Kent, TN8 5LD.
The principal activity of the company is the provision of washroom services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Monetary amounts in these financial statements are stated in pounds sterling and are rounded to the nearest whole £1, except where otherwise indicated.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).

This information is included in the consolidated financial statements of Greenworks Solutions (Holdings) Limited as at 30 September 2024 and these financial statements may be obtained from Unit 1, Warsop Trading Estate, Hever Road, Edenbridge, England, TN8 5LD.

Page 11

GREENWORKS WASHROOMS LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Hygiene services income
Revenue is recognised over the course of the contract period. The company receives revenue in advance for contracts whose durations range from three months to one year. At the balance sheet date, the deferred income recognised on the balance sheet represents revenue received in advance for such contracts, which will be released to the Statement of comprehensive income over  the contract period.
Service income
Annual service income is recognised over the maintenance period. The company receives revenue in advance for annual maintenance. At the balance sheet date, the deferred income recognised on the balance sheet represents revenue received in advance for this service, which is released to the Statement of comprehensive income over the maintenance period.

 
2.4

Operating leases: the company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

 
2.5

Operating leases: the company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that 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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 12

GREENWORKS WASHROOMS LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.9

 Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

 Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 13

GREENWORKS WASHROOMS LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.10
 Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
10% and 2% on cost
Plant and machinery
-
25% on cost
Motor vehicles
-
25% on cost
Fixtures and fittings
-
25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

 Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.12

 Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.14

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 14

GREENWORKS WASHROOMS LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.15

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.16

 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.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.


4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Hygiene services
3,558,703
3,266,821

Coffee consumables and services
304,890
3,930,536

3,863,593
7,197,357


All turnover arose within the United Kingdom.


5.


Other operating income

2024
2023
£
£

Intragroup management charges
110,341
572,021


Page 15

GREENWORKS WASHROOMS LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Fees payable to the company's auditor for the audit of the company's annual financial statements.
13,850
14,000

Fees payable to the company's auditors in respect of all other services
1,650
14,497

Depreciation of tangible fixed assets
299,204
359,304

Other operating lease rentals
11,281
47,635

Defined contribution pension cost
49,674
74,487


7.


Profit on disposal of investments in subsidiaries

2024
2023
£
£

Profit on disposal of investments in subsidiaries
-
389,198


On 30 June 2023, the company sold all of its investments held in subsidiaries to its parent company as part of a group reconstruction.




Page 16

GREENWORKS WASHROOMS LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
1,485,471
2,420,021

Social security costs
148,280
252,834

Cost of defined contribution scheme
49,674
74,487

1,683,425
2,747,342


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Administration
6
16



Management
2
4



Sales
5
6



Operations
31
41



Directors
2
2

46
69


9.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
91,333
150,000



10.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
2,415
3,138

Finance leases and hire purchase contracts
56,146
21,012

Other interest payable
3,750
3,147

62,311
27,297

Page 17

GREENWORKS WASHROOMS LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
37,315
9,561


Total current tax
37,315
9,561

Deferred tax


Origination and reversal of timing differences
(20,790)
107,747

Total deferred tax
(20,790)
107,747


Taxation on profit on ordinary activities
16,525
117,308

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 22.01%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
192,747
877,692


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 22.01%)
48,187
193,164

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
3,509
3,782

Capital allowances for year in excess of depreciation
(9,495)
7,969

Utilisation of tax losses
(3,850)
-

Short-term timing difference leading to an increase (decrease) in taxation
(1,036)
-

Non-taxable income
-
(85,654)

Deferred tax recognised
(20,790)
12,894

Transfer of losses and asset in sale of trade
-
(14,800)

Marginal rate relief
-
(47)

Total tax charge for the year
16,525
117,308


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 18

GREENWORKS WASHROOMS LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
234,799
6,438
1,336,189
7,329
1,584,755


Additions
-
-
419,607
925
420,532


Transfers intra group
-
-
38,674
-
38,674


Disposals
-
-
(179,841)
-
(179,841)



At 30 September 2024

234,799
6,438
1,614,629
8,254
1,864,120



Depreciation


At 1 October 2023
76,470
6,232
633,807
4,204
720,713


Charge for the year on owned assets
4,017
206
56,300
923
61,446


Charge for the year on financed assets
-
-
237,758
-
237,758


Transfers intra group
-
-
29,811
-
29,811


Disposals
-
-
(160,537)
-
(160,537)



At 30 September 2024

80,487
6,438
797,139
5,127
889,191



Net book value



At 30 September 2024
154,312
-
817,490
3,127
974,929



At 30 September 2023
158,329
206
702,382
3,125
864,042

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
795,886
700,392


13.


Stocks

2024
2023
£
£

Finished goods and goods for resale
135,310
110,871



14.


Debtors

Page 19

GREENWORKS WASHROOMS LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2024
2023
£
£


Trade debtors
458,677
710,728

Amounts owed by group undertakings
6,122,871
6,268,190

Other debtors
14,277
20,558

Prepayments and accrued income
8,693
26,162

Deferred taxation
49,230
28,440

6,653,748
7,054,078



15.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
96
96

Less: bank overdrafts
(3,812,403)
(4,408,938)

(3,812,307)
(4,408,842)



16.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
3,812,403
4,408,938

Obligations under finance lease and hire purchase contracts
315,468
272,975

Amounts owed to group undertakings
11,027
-

Corporation tax
37,315
9,561

Trade creditors
390,504
329,861

Other taxation and social security
93,730
47,338

Other creditors
18,582
19,716

Accruals and deferred income
1,082,667
1,087,255

5,761,696
6,175,644


The bank overdraft is secured by a debenture in favour of Svenska Handelsbanken AB (publ), dated 7 June 2016. It is secured by an unlimited inter-company composite guarantee, and a legal charge over land and buildings. The aggregate secured overdraft debt at the year-end was £3,812,403 (2023: £4,408,938).
Finance lease liabilities are secured on the assets to which they relate. The aggregate secured debt at the year-end was £618,290 (2023: £574,075), of which £315,468 (2023: £272,975) is included in short-term creditors and £302,822 (2023 £301,100) is included in long-term creditors.

Page 20

GREENWORKS WASHROOMS LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

17.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
302,822
301,100

302,822
301,100


Finance lease liabilities are secured on the assets to which they relate. The aggregate secured debt at the year-end was £618,290 (2023: £574,075), of which £315,468 (2023: £272,975) is included in short-term creditors and £302,822 (2023 £301,100) is included in long-term creditors.


18.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
315,468
272,975

Between 1-5 years
302,822
206,012

Over 5 years
-
95,088

618,290
574,075


19.


Deferred taxation




2024


£






At beginning of year
28,440


Charged to profit or loss
20,790



At end of year
49,230

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
49,230
28,440

49,230
28,440

Page 21

GREENWORKS WASHROOMS LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

20.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



9,000 (2023 - 90) Ordinary shares shares of £0.01 each (2023 - £1.00 each)
90
90
474 (2023 - ) B Ordinary shares shares of £0.01 each
5
-

95

90


On 21 June 2024, the Ordinary £1 shares were sub-divided into A Ordinary £0.01 shares. On the same date, 474 £0.01 Ordinary B shares were allotted for a consideration of £31,000.


21.


Reserves

Share premium account

The difference between the par value and the total amount received for shares issued.

Capital redemption reserve

The amount to replenish the company's capital, following the repurchase of shares.

Profit and loss account

The cumulative profit and loss, net of distribution to owners.


22.


Contingent liabilities and guarantees

A debenture exists in favour of the company's banker, which gives a cross guarantee to borrowings made by Greenworks Controlled Environments Limited, Greenworks Washrooms Ltd, Zepbrook Limited, Greenworks Coffee Ltd and Greenworks Solutions (Holdings) Limited.
The net bank balance across the entire group amounted to £13,616 (2023: £342,603). Excluding positive balances in the group, the bank borrowings amounted to £4,314,104 (2023: £4,409,920).


23.


Commitments under operating leases

At 30 September 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
109,096
126,451

Later than 1 year and not later than 5 years
233,615
227,532

Later than 5 years
88,177
127,367

430,888
481,350

Page 22

GREENWORKS WASHROOMS LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

24.


Transactions with directors

At the balance sheet date the amount owed by the company to directors in respect of interest-free loans
was £3,000 (2023: £nil).


25.


Related party transactions

During the year the company made sales and recharged expenses totalling £304,890 (2023: £1,606,542) to group companies, and purchases and recharged expenses totalling £286,504 (2023: £388,007) were paid to group companies.
At the year end balances due from group companies, included in debtors, amounted to £6,122,871 (2023: £6,453,803), and amounts due to group companies, included in creditors due within one year, amounted to £11,027 (2023: £Nil).
Key management personnel
Key management personnel are considered to be the statutory directors.  Total remuneration paid to the directors is stated in note 9.


26.


Controlling party

The parent company is Greenworks Solutions (Holdings) Ltd, a company incorporated in England and Wales. A. R. J. Warren is the majority shareholder of the parent company, and is the ultimate controlling party. Greenworks Solutions (Holdings) Limited prepares group financial statements, and copies can be obtained from Unit 1 Warsop Trading Estate, Hever Road, Edenbridge, Kent, TN8 5LD.

 
Page 23