Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-3031172023-10-01No description of principal activityfalse3513truetruefalse 04074469 2023-10-01 2024-09-30 04074469 2022-07-01 2023-09-30 04074469 2024-09-30 04074469 2023-09-30 04074469 2022-07-01 04074469 c:Director1 2023-10-01 2024-09-30 04074469 d:Buildings d:LongLeaseholdAssets 2023-10-01 2024-09-30 04074469 d:Buildings d:LongLeaseholdAssets 2024-09-30 04074469 d:Buildings d:LongLeaseholdAssets 2023-09-30 04074469 d:PlantMachinery 2023-10-01 2024-09-30 04074469 d:PlantMachinery 2024-09-30 04074469 d:PlantMachinery 2023-09-30 04074469 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04074469 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 04074469 d:MotorVehicles 2023-10-01 2024-09-30 04074469 d:MotorVehicles 2024-09-30 04074469 d:MotorVehicles 2023-09-30 04074469 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04074469 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 04074469 d:FurnitureFittings 2023-10-01 2024-09-30 04074469 d:FurnitureFittings 2024-09-30 04074469 d:FurnitureFittings 2023-09-30 04074469 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04074469 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 04074469 d:OfficeEquipment 2023-10-01 2024-09-30 04074469 d:OfficeEquipment 2024-09-30 04074469 d:OfficeEquipment 2023-09-30 04074469 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04074469 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 04074469 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04074469 d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 04074469 d:CurrentFinancialInstruments 2024-09-30 04074469 d:CurrentFinancialInstruments 2023-09-30 04074469 d:Non-currentFinancialInstruments 2024-09-30 04074469 d:Non-currentFinancialInstruments 2023-09-30 04074469 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 04074469 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 04074469 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 04074469 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 04074469 d:ShareCapital 2024-09-30 04074469 d:ShareCapital 2023-09-30 04074469 d:SharePremium 2024-09-30 04074469 d:SharePremium 2023-09-30 04074469 d:RetainedEarningsAccumulatedLosses 2024-09-30 04074469 d:RetainedEarningsAccumulatedLosses 2023-09-30 04074469 d:TaxLossesCarry-forwardsDeferredTax 2024-09-30 04074469 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 04074469 c:OrdinaryShareClass1 2023-10-01 2024-09-30 04074469 c:OrdinaryShareClass1 2024-09-30 04074469 c:OrdinaryShareClass1 2023-09-30 04074469 c:OrdinaryShareClass2 2023-10-01 2024-09-30 04074469 c:OrdinaryShareClass2 2024-09-30 04074469 c:OrdinaryShareClass2 2023-09-30 04074469 c:OrdinaryShareClass3 2023-10-01 2024-09-30 04074469 c:OrdinaryShareClass3 2024-09-30 04074469 c:OrdinaryShareClass3 2023-09-30 04074469 c:FRS102 2023-10-01 2024-09-30 04074469 c:Audited 2023-10-01 2024-09-30 04074469 c:FullAccounts 2023-10-01 2024-09-30 04074469 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04074469 d:WithinOneYear 2024-09-30 04074469 d:WithinOneYear 2023-09-30 04074469 d:HirePurchaseContracts d:WithinOneYear 2024-09-30 04074469 d:HirePurchaseContracts d:WithinOneYear 2023-09-30 04074469 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-09-30 04074469 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-09-30 04074469 c:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 04074469 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-09-30 04074469 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-30 04074469 d:LeasedAssetsHeldAsLessee 2024-09-30 04074469 d:LeasedAssetsHeldAsLessee 2023-09-30 04074469 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure

04074469







GREENWORKS COFFEE LTD

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
30 SEPTEMBER 2024

































GREENWORKS COFFEE LTD
REGISTERED NUMBER:04074469

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
752,446
739,007

Current assets
  

Stocks
 5 
507,006
234,586

Debtors: amounts falling due within one year
 6 
1,105,769
768,129

Cash at bank and in hand
  
965,627
497,136

  
2,578,402
1,499,851

Creditors: amounts falling due within one year
 7 
(2,955,246)
(2,393,754)

Net current liabilities
  
 
 
(376,844)
 
 
(893,903)

Total assets less current liabilities
  
375,602
(154,896)

Creditors: amounts falling due after more than one year
 8 
(217,072)
(126,382)

  

Net assets/(liabilities)
  
158,530
(281,278)


Capital and reserves
  

Called up share capital 
 11 
375,607
375,577

Share premium account
  
35,970
-

Profit and loss account
  
(253,047)
(656,855)

  
158,530
(281,278)


Page 1

GREENWORKS COFFEE LTD
REGISTERED NUMBER:04074469
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

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 3 to 11 form part of these financial statements.

Page 2

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

1.


General information

Greenworks Coffee Ltd (the company) is a company limited by shares and domiciled and  incorporated in England and Wales.
The address of its registered office is Unit 1, Warsop Trading Estate, Hever Road, Edenbridge, Kent, TN8
5LD.
The address of the company's place of business is Unit 4 Antler Court, Ashton-in-Makerfield, Wigan, WN4 8DU.
The principal activities of the company are the provision of coffee machine services as well as supplying catering disposables.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The company has net current liabilities of £376,844 (2023: £893,903) at the balance sheet date. Included in net current liabilities are amounts due to group companies of £2,200,566 (2023: £1,522,308), which are presented within creditors falling due within one year.  The company has received a letter of support from its parent company, as head of the group, which confirms that these balances will only need to be settled when the company has the financial resources to permit repayment.
The directors have also taken into account all available information about the trading prospects and cashflow requirements for 12 months from the date of approval of the financial statements of the company. Consequently, the directors consider that the company is a going concern.

Page 3

GREENWORKS COFFEE 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:

Coffee machine rental 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 income and retained earnings over  the contract period.
Supply of catering disposables and coffee machines
Revenue is recognised when the order is dispatched.
Service income
Annual service income is recognised over the maintenance period, for which contract durations range from three months to five years. 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 income and retained earnings 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 on income and retained earnings 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 on income and retained earnings 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.

Page 4

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

2.Accounting policies (continued)

 
2.7

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.

 
2.8

 Taxation

The tax expense for the year comprises current and deferred tax. The tax expense for the year comprises current and deferred tax. Tax is recognised in the  Statement on income and retained earnings 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.

 
2.9

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 5

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

2.Accounting policies (continued)


2.9
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:

Long-term leasehold 
property improvements
-
10%
straight line
Plant and machinery
-
25%
straight line
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
Office equipment
-
25%
straight line

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.

 
2.10

 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 on income and retained earnings.

 
2.11

 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.

 
2.12

 Cash and cash equivalents

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

 
2.13

 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.

 
2.14

 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 and loans to related parties.

Page 6

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

3.


Employees

The average monthly number of employees, including directors, during the year was 35 (2023 - 13).


4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 October 2023
54,042
2,952,734
139,414
13,958
34,253
3,194,401


Additions
-
194,392
71,829
8,186
2,632
277,039


Disposals
-
-
(54,292)
-
-
(54,292)



At 30 September 2024

54,042
3,147,126
156,951
22,144
36,885
3,417,148



Depreciation


At 1 October 2023
30,929
2,247,331
139,414
11,340
26,380
2,455,394


Charge for the year on owned assets
3,117
246,141
-
2,318
5,406
256,982


Charge for the year on financed assets
-
-
6,618
-
-
6,618


Disposals
-
-
(54,292)
-
-
(54,292)



At 30 September 2024

34,046
2,493,472
91,740
13,658
31,786
2,664,702



Net book value



At 30 September 2024
19,996
653,654
65,211
8,486
5,099
752,446



At 30 September 2023
23,113
705,403
-
2,618
7,873
739,007

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


2024
2023
£
£



Motor vehicles
65,211
-

65,211
-

Page 7

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

5.


Stocks

2024
2023
£
£

Parts and consumables
315,035
220,805

Goods for resale
191,971
13,781

507,006
234,586



6.


Debtors

2024
2023
£
£


Trade debtors
561,774
597,750

Amounts owed by group undertakings
250,665
63,530

Other debtors
25,354
14,889

Prepayments and accrued income
163,363
44,504

Deferred taxation
104,613
47,456

1,105,769
768,129



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
982
982

Trade creditors
175,409
377,954

Amounts owed to group undertakings
2,200,566
1,522,308

Corporation tax
-
2,874

Other taxation and social security
182,450
140,904

Obligations under finance lease and hire purchase contracts
43,235
-

Other creditors
27,529
26,220

Accruals and deferred income
325,075
322,512

2,955,246
2,393,754


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.
Finance lease liabilities are secured on the assets to which they relate. 
The aggregate secured debt at the year-end was £66,483 (2023: nil), of which £43,235 is included in short-term creditors and £23,248 is included in long-term creditors.

Page 8

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

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
23,248
-

Accruals and deferred income
193,824
126,382


Finance lease liabilities are secured on the assets to which they relate. 
The aggregate secured debt at the year-end was £66,483 (2023: nil), of which £43,235 is included in short-term creditors and £23,248 is included in long-term creditors.


9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
43,235
-

Between 1-5 years
23,248
-

66,483
-


10.


Deferred taxation




2024
          2023


£

£






At beginning of year
47,456
-


Charged to profit or loss
57,157
47,456



At end of year
104,613
47,456

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
104,613
47,456

The company has recognised a deferred tax asset of £104,613 and has carried forward unutilised tax losses of £1,973,610 that have not been recognised in the financial statements because, whilst the company expects to be profitable in the next accounting period and beyond, it has taken a prudent approach in light of the support required by group companies as detailed in the accounting policy for going concern (note 2.2).

Page 9

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

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



56,500 (2023 - 565) Ordinary A shares of £0.01 each (2023: £1.00 each)
565
565
4,237 (2023 - 12) Ordinary B shares of £0.01 each (2023: £1.00 each)
42
12
375,000 (2023 - 375,000) Redeemable preference shares of £1.00 each
375,000
375,000

375,607

375,577


On 21 June 2024, the A Ordinary £1 shares and B Ordinary £1 shares were sub-divided into A Ordinary £0.01 shares and B Ordinary £0.01 shares respectively. On the same date, 3,037 £0.01 Ordinary B shares were allotted for a consideration of £36,000.


12.


Commitments under operating leases

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

2024
2023
£
£



Not later than 1 year
272,527
221,955




13.Finance commitments 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).


14.


Related party transactions

During the year the company recharged expenses totalling £253,194 (2023: £276,674) to group companies, and purchases and recharged expenses totalling £535,179 (2023: £664,962) were paid to group companies.
At the year end balances due from group companies, included in debtors, amounted to £259,330 (2023: £67,001), and amounts due to group companies, included in creditors due within one year, amounted to £2,200,566 (2023: £1,522,308).

Page 10

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

15.


Controlling party

The parent company is Greenworks Solutions (Holdings) Ltd, a company incorporated in the United Kingdom. A. R. J. Warren is the majority shareholder of the parent company, and is the ultimate controlling party.


16.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 11 June 2025 by Matthew Neill BA (Hons) MA FCA (Senior Statutory Auditor) on behalf of S&W Partners Audit Limited.

 
Page 11