Wolf Laundry Holdings Limited - Limited company accounts 25.1

REGISTERED NUMBER: 10244870 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Wolf Laundry Holdings Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

9

Balance Sheet

10

Notes to the Financial Statements

11

DIRECTORS:

J A Brown

D T Riley

T E Marder

M Keller

REGISTERED OFFICE:

Wolf Laundry

Unit 5b Ashroyds Way

Hoyland

Barnsley

S74 9SB

REGISTERED NUMBER:

10244870 (England and Wales)

AUDITORS:

S&W Audit

Statutory Auditor

Chartered Accountants

3rd Floor

56 Wellington Street

Leeds

West Yorkshire

LS1 2EE

The directors present their strategic report for the year ended 31 December 2024.

PRINCIPAL ACTIVITIES

The principal activity of the company continued to be that of a holding company.

REVIEW OF BUSINESS

The results of the company are consistent with its principal activity of being a holding company.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors assert that there is no significant price, credit or liquidity risk given the nature of business.

In respect of cash flow risk the Company has continued support from its subsidiary in order to meet its liabilities as they fall due.

KEY PERFORMANCE INDICATORS

The key performance indicators for the financial statements are presented below:

Net current assets - £4,120,705 (2023 - £4,279,778)

Total equity - £1,970,631 (2023 - £2,129,704)

ON BEHALF OF THE BOARD:

J A Brown - Director

29 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

J A Brown

D T Riley

T E Marder

M Keller

QUALIFYING THIRD PARTY INDEMNITY PROVISIONS

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

MATTERS COVERED IN THE STRATEGIC REPORT

Disclosures with regards to principal activity, review of the business, future developments, principal risks and uncertainties and financial and other key performance indicators are included within the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and then apply them consistently;

-	make judgements 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, S&W Audit (a trading name of S&W Partners Audit Limited), will be proposed for re-appointment at the forthcoming Annual General Meeting in accordance with section 485 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

J A Brown - Director

29 September 2025

Opinion

We have audited the financial statements of Wolf Laundry Holdings Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The 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 31 December 2024 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.

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 UK, including the FRC'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.

Other information

The other information comprises the information included in the Strategic Report, Report of the Directors and Financial Statements, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the Strategic Report, Report of the Directors and Financial Statements. Our opinion on the financial statements does not cover the other information and 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.

Opinions 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors 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 Report of the Directors.

We have nothing to report in respect of the following matters where 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; or

-	the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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.

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 a Report of the Auditors 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.

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:

- Accounts preparation and tax compliance to external experts;

- Subscribing to relevant updates from external experts and making changes to internal procedures and controls as necessary,

- The Directors' close involvement in the day-to-day running of the business, meaning that any litigation or claims would come to their attention directly.

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/ or 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 via fraudulent journal entries

The procedures we carried out to gain evidence in the above areas included:

- Testing journal entries, selected based on specific risk assessments applied based on the client processes and controls surrounding manual journals

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 Report of the Auditors.

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 2006. Our 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 a Report of the Auditors 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 Barton BA (Hons) FCA CTA (Senior Statutory Auditor)

for and on behalf of S&W Audit

Statutory Auditor

Chartered Accountants

3rd Floor

56 Wellington Street

Leeds

West Yorkshire

LS1 2EE

30 September 2025

TURNOVER

-

Administrative expenses

1,141

143

OPERATING LOSS

(1,141

)

(143

)

Income from shares in group
undertakings

-

1,540,209

(1,141

)

1,540,066

Interest payable and similar expenses

4

157,932

157,500

(LOSS)/PROFIT BEFORE TAXATION

(159,073

)

1,382,566

Tax on (loss)/profit

5

-

(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(159,073

)

1,382,566

Retained earnings at beginning of year

1,434,704

274,138

Dividends

6

-

(222,000

)

RETAINED EARNINGS AT END OF
YEAR

1,275,631

1,434,704

FIXED ASSETS

Investments

9

4,149,926

CURRENT ASSETS

Debtors

10

4,156,884

4,404,785

Cash at bank

3,520

85,352

4,160,404

4,490,137

CREDITORS

Amounts falling due within one year

11

39,699

210,359

NET CURRENT ASSETS

4,120,705

4,279,778

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,270,631

8,429,704

CREDITORS

Amounts falling due after more than one
year

12

6,300,000

NET ASSETS

1,970,631

2,129,704

CAPITAL AND RESERVES

Called up share capital

14

500,100

Share premium

15

194,900

Retained earnings

15

1,275,631

1,434,704

SHAREHOLDERS' FUNDS

1,970,631

2,129,704

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

J A Brown - Director

1.	STATUTORY INFORMATION

Wolf Laundry Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions

The financial statements are prepared by in sterling, which is the functional currency of the company. Monetary amounts 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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets , liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

- Section 7 'Statement of Cash Flows': Presentation of statement of cash flow and related notes and disclosures;

- Section 11 ' Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues: Interest income/ expense and net gains/ losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income:

- Section 26 ' Share based payment': Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 'Related Party Disclosure': Compensation for key management personnel.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Wolf Laundry Holdings Limited is a subsidiary of HC Holding ETA AG and the results of Wolf Laundry Holdings Limited are included in the consolidated financial statements of HC Holding ETA AG which are available from Zugerstrasse 74 Baar, 6340, Switzerland.

Going concern

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

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where it hs the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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.

Other financial assets

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

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

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

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

3.	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 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.

(i) Assessing indicators of impairment to intercompany balances and the value of fixed asset investments

In assessing whether there has been any indicators of impairment to assets the Directors have considered both external and internal sources of information such as market conditions, counter party credit ratings and experience of recoverability and, where applicable, the ability of the asset to be operated as planned.

There have been no indicators of impairment identified during the current financial period.

4.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

Non bank interest on loans

10,904

10,875

Interest payable to group undertakings

147,028

146,625

157,932

157,500

5.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024

2023

£

(Loss)/profit before tax

(159,073

)

1,382,566

(Loss)/profit multiplied by the standard rate of corporation tax in the
UK of 25% (2023 - 23.500%)

(39,768

)

324,903

Effects of:

Tax effect of income not taxable in determining taxable profit

-

(361,949

)

Group relief

39,768

37,046

Total tax charge

-

6.

DIVIDENDS

2024

2023

£

Ordinary shares of £1 each

Final

-

222,000

7.	AUDITOR'S REMUNERATION

2024

2023

Fees payable to the company's auditor and associates:

£

For audit services

Audit of the financial statements of the company

3,250

3,950

The audit fees have been borne by the company's subsidiary.

8.

DIVIDENDS

2024

2023

£

Final paid

-

222,000

9.	FIXED ASSET INVESTMENTS

Investment

in

subsidiary

£

COST

At 1 January 2024

and 31 December 2024

4,149,926

NET BOOK VALUE

At 31 December 2024

4,149,926

At 31 December 2023

4,149,926

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Wolf Laundry Limited

Registered office: Wolf Laundry Unit 5b Ashroyds Way, Hoyland, Barnsley,England, S74 9SB

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

Brewer & Bunney Limited

Registered office: Wolf Laundry Unit 5b Ashroyds Way, Hoyland, Barnsley, England, S74 9SB

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed by group undertakings

4,156,884

4,401,146

Other debtors

-

3,639

4,156,884

4,404,785

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other creditors

39,699

210,359

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Other loans (see note 13)

5,865,000

Other creditors

435,000

6,300,000

The loans issued to the company by both the Directors and group undertakings are unsecured and attract an interest rate of 2.50% per annum.

13.

LOANS

2024

2023

£

Loans from group undertakings

5,865,000

Payable after one year

5,865,000

14.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

£1

100

500,000

Non-redeemable preference

£1

500,000

500,100

Ordinary shares are entitled to receive dividends, to vote and to the return of capital on winding up.

Non-redeemable preference shares are not entitled to receive dividends or to vote. On a return of capital on winding up, the non-redeemable preference shares shall rank ahead of the ordinary shares up to the nominal value of the non-redeemable preference shares only.

15.

RESERVES

Retained

Share

earnings

premium

Totals

£

At 1 January 2024

1,434,704

194,900

1,629,604

Deficit for the year

(159,073

)

(159,073

)

At 31 December 2024

1,275,631

194,900

1,470,531

16.	RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption permitted by section 33 'Related Party Disclosures' of Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland' from the requirement to disclose transactions between wholly owned group companies on the grounds that the consolidated financial statements are prepared by the ultimate parent company.

At the reporting date £435,000 (2023 - £435,000) was owed to the directors in respect of loans received. Interest on these loans of £10,904 (2023 - £10,875) was charged in the year in which £2,741 (2023 - £8,193) was still outstanding at the reporting date.

At the reporting date £5,865,000 (2023 - £5,865,000) was owed to group undertakings in respect of loans received. Interest on these loans of £147,028 (2023 - £146,625) was charged in the year of which £36,958 (2023 - £202,165) was still outstanding at the reporting date.

17.	ULTIMATE CONTROLLING PARTY

The immediate parent company of Wolf Laundry Holdings Limited is Schulthess Maschinen AG Switzerland, Cham Kt ZG, a Company incorporated in Switzerland.

The ultimate parent company of Wolf Laundry Holdings Limited is HC Holding ETA AG. a company incorporated in Switzerland.

The registered address of the ultimate parent company is Zugerstrasse 74 Baar, 6340 Switzerland.

In the opinion of the directors there is no single ultimate controlling party.

The following are the parents of the largest and smallest groups in which this company's results are consolidated.

Largest group

HC Holding ETA AG

Smallest group

HC Holding ETA AG