Greensafe Holdings Limited

	Page
Company Information	1
Strategic Report	2
Directors' Report	3
Independent Auditor's Report	4—5
Consolidated Statement of Comprehensive Income	6
Consolidated Statement of Financial Position	7
Company Statement of Financial Position	8
Consolidated Statement of Changes in Equity	9
Company Statement of Changes in Equity	10
Consolidated Statement of Cash Flows	11
Notes to the Consolidated Statement of Cash Flows	12
Notes to the Financial Statements	13—22

Page 1

Page 2

Strategic Report

For The Year Ended 31 August 2025

Strategic Report

The directors present their strategic report for the year ended 31 August 2025.

Principal Activity

The group's principal activity continues to be that of the provision of IT services and the recycling of IT related assets.

Review of the Business

The profit for the year after taxation amounted to £317,096 (2024: £182,134). No dividends were paid in the year.

Throughout the year managements' focus was on the key metrics of new customer acquisition and the growth of existing customer accounts. As a result, the group experienced an increase in its annual turnover of circa £2.17m, representing growth of 16.8%.

Going forward, the directors remain confident that the size of the overall market sector means that the company has future opportunities for growth. The directors are confident that they will achieve continued growth. However, they acknowledge that increases in national insurance and wage inflation remain a challenge. These are challenges that will be met with investment in new system automation and controls.

Principal Risks and Uncertainties

The group’s policy in respect of risks is to preserve the resources upon which its continuing reputation, viability and profitability are built, in order to enable its corporate objects to be achieved.

The principal risk is the concentration of services within certain key customer accounts. The sales team have been tasked with the continued widening of the customer base. The group also faces an increase in national insurance costs. It has managed this through process improvements and improved labour efficiency. Finally, the group has credit risk, in respect of trade debtors, which it manages through its effective credit control procedures.

Future Developments

The group is focused on acquiring new clients to reduce its dependency on existing customers. Moreover, the future growth efforts are focused on recurring IT service contracts in priority to ad hoc project work.

Going Concern

The group made a profit in the current financial year and post year end has continued to make satisfactory profits. The directors have assessed going concern with reference to profit and cashflow forecasts and have no concern as to the ability of the group to meet its liabilities as they fall due for a period beyond 12 months.

On behalf of the board

Mr J A Sansom

Director

29 May 2026

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Greensafe Holdings Limited

Company No. 09921245

Directors' Report For The Year Ended 31 August 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 August 2025.

Directors

The directors who held office during the year were as follows:

Mr J A Sansom

Mr M Utsumi

Mr J J Sansom

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

Statement of Directors' Responsibilities

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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the group and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
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 and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company and group's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company and group's auditors are aware of that information.

Independent Auditors

The auditors, Harrison Partners Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr J A Sansom

Director

29 May 2026

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Independent Auditor's Report

to the Members of

Greensafe Holdings Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Greensafe Holdings Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 August 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the group's and of the parent company's affairs as at 31 August 2025 and of the group's profit/(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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group and parent company's ability to continue as a going concern for a period of at least 12 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 annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our 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. In connection with our audit of the financial statements, 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 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and 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 group and parent company and their 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records or 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.

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Independent Auditor's Report (continued)

to the Members of

Greensafe Holdings Limited

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3, 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 group and parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 auditor's 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified the laws and regulations applicable to the group through discussions with directors and other management and from our commercial knowledge and experience of the information technology sector. We obtained an understanding of the legal and regulatory frameworks that the group operates in, and identified specific laws and regulations that have a direct material effect on the financial statements or the operations of the group, including the Companies Act 2006 and UK GAAP, FRS102 in particular. We also considered other laws and regulations which may be fundamental to the group’s ability to operate or to avoid a material penalty. These included the Health and Safety at Work Act 1974 and the Waste Electrical and Electronic Equipment Regulations 2013. We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and ensuring proper policies and procedures are in place. Moreover, the laws and regulations were communicated to the audit team, who remained alert to instances of non-compliance throughout the audit. We also assessed the susceptibility of the group’s financial statements to material misstatement by making enquiries of management as to where they considered there was a susceptibility to fraud, their knowledge of actual or suspected frauds and through a consideration of the internal controls that might mitigate the risk of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and the override of controls, we performed substantive testing of material balance sheet assets and liabilities, plus directional testing of revenue, expenses and payroll. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, forgery, collusion or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's 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 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's 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.

Neil Harrison (Senior Statutory Auditor)

for and on behalf of Harrison Partners Limited , Statutory Auditor

29 May 2026

Harrison Partners Limited

Masonic Building

9 Mill Street

Sutton Coldfield

B72 1TJ

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Greensafe Holdings Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 31 August 2025

Consolidated Statement of Comprehensive Income

		2025	2024
	Notes	£	£
TURNOVER	3	15,060,257	12,894,459
Cost of sales		(5,096,125 )	(3,980,573 )

GROSS PROFIT		9,964,132	8,913,886

Administrative expenses		(9,264,347 )	(8,551,073 )
Other operating income		7,038	7,038

OPERATING PROFIT	5	706,823	369,851
Loss on disposal of fixed assets		(18,070 )	(434 )
Other interest receivable and similar income	10	19,154	7,740
Interest payable and similar charges	11	(297,222 )	(123,989 )

PROFIT BEFORE TAXATION		410,685	253,168
Tax on Profit	12	(93,589 )	(71,034 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		317,096	182,134
OTHER COMPREHENSIVE INCOME:
(Loss)/gain on revaluation of property, plant and equipment		(517 )	760,972
Tax expense on components of other comprehensive income		(763 )	(206,961 )

TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		315,816	736,145

All of the activities of the group are classed as continuing.

The notes on pages 12 to 22 form part of these financial statements.

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Greensafe Holdings Limited

Consolidated Statement of Financial Position

As At 31 August 2025

Consolidated Statement of Financial Position

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	13		270,674		190,984
Tangible Assets	14		8,879,467		8,806,641

			9,150,141		8,997,625
CURRENT ASSETS
Stocks	16	301,731		160,894
Debtors	17	2,205,675		2,259,509
Cash at bank and in hand		310,201		1,352,244

		2,817,607		3,772,647
Creditors: Amounts Falling Due Within One Year	18	(3,239,008 )		(4,177,949 )

NET CURRENT ASSETS (LIABILITIES)			(421,401 )		(405,302 )

TOTAL ASSETS LESS CURRENT LIABILITIES			8,728,740		8,592,323

Creditors: Amounts Falling Due After More Than One Year	19		(4,287,428 )		(4,443,844 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	22		(572,728 )		(595,711 )

NET ASSETS			3,868,584		3,552,768

CAPITAL AND RESERVES
Called up share capital	24		2		2
Share premium account			333,000		333,000
Revaluation reserve			1,571,013		1,572,293
Income Statement			1,964,569		1,647,473

SHAREHOLDERS' FUNDS			3,868,584		3,552,768

The financial statements were approved by the board of directors on 29 May 2026 and were signed on its behalf by:

Mr J A Sansom

Director

The notes on pages 12 to 22 form part of these financial statements.

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Greensafe Holdings Limited

Company Statement of Financial Position

As At 31 August 2025

Company Statement of Financial Position

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investments	15		200		200

			200		200
CURRENT ASSETS
Debtors	17	759,934		759,934

		759,934		759,934
Creditors: Amounts Falling Due Within One Year	18	(18,050 )		(13,200 )

NET CURRENT ASSETS (LIABILITIES)			741,884		746,734

TOTAL ASSETS LESS CURRENT LIABILITIES			742,084		746,934

NET ASSETS			742,084		746,934

CAPITAL AND RESERVES
Called up share capital	24		2		2
Share premium account			333,000		333,000
Income Statement			409,082		413,932

SHAREHOLDERS' FUNDS			742,084		746,934

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's loss for the year was £(4,850 ) (2024: £(4,500 ) loss).

The financial statements were approved by the board of directors on 29 May 2026 and were signed on its behalf by:

Mr J A Sansom

Director

The notes on pages 12 to 22 form part of these financial statements.

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Greensafe Holdings Limited

Consolidated Statement of Changes in Equity

For The Year Ended 31 August 2025

Consolidated Statement of Changes in Equity

	Share Capital	Share Premium	Revaluation reserve	Income Statement	Total
	£	£	£	£	£
As at 1 September 2023	2	333,000	1,018,282	1,465,339	2,816,623
Profit for year	-	-	-	182,134	182,134

Surplus on revaluation	-	-	814,045	-	814,045
Deficit on revaluation	-	-	(260,034)	-	(260,034)

Other comprehensive income for the year	-	-	554,011	-	554,011

Total comprehensive income for the year	-	-	554,011	182,134	736,145

As at 31 August 2024 and 1 September 2024	2	333,000	1,572,293	1,647,473	3,552,768


Profit for year	-	-	-	317,096	317,096

Deficit on revaluation	-	-	(1,280)	-	(1,280)

Other comprehensive income for the year	-	-	(1,280 )	-	(1,280 )

Total comprehensive income for the year	-	-	(1,280)	317,096	315,816

As at 31 August 2025	2	333,000	1,571,013	1,964,569	3,868,584

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Greensafe Holdings Limited

Company Statement of Changes in Equity

For The Year Ended 31 August 2025

Company Statement of Changes in Equity

	Share Capital	Share Premium	Income Statement	Total
	£	£	£	£
As at 1 September 2023	2	333,000	418,432	751,434
Loss for the year and total comprehensive income	-	-	(4,500 )	(4,500)

As at 31 August 2024 and 1 September 2024	2	333,000	413,932	746,934


Loss for the year and total comprehensive income	-	-	(4,850 )	(4,850)

As at 31 August 2025	2	333,000	409,082	742,084

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Greensafe Holdings Limited

Consolidated Statement of Cash Flows

For The Year Ended 31 August 2025

Consolidated Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	44,919	1,951,602
Interest paid		(297,221 )	(123,989 )
Tax paid		(104,839 )	(37,581 )

Net cash (used in)/generated from operating activities		(357,141 )	1,790,032

Cash flows from investing activities
Purchase of intangible assets		(116,090 )	(107,277 )
Purchase of tangible assets		(238,474 )	(4,262,645 )
Proceeds from disposal of tangible assets		16,367	-
Grants received		7,038	7,038
Interest received		19,154	7,740

Net cash used in investing activities		(312,005 )	(4,355,144 )

Cash flows from financing activities
Proceeds from new bank borrowings		-	2,755,000
Repayment of bank borrowings		(132,440 )	(63,870 )
Repayment of finance leases		(21,371 )	(64,681 )
Amount introduced by directors		-	592,623
Amount withdrawn by directors		(219,086)	-

Net cash (used in)/generated from financing activities		(372,897 )	3,219,072



(Decrease)/increase in cash and cash equivalents		(1,042,043 )	653,960
Cash and cash equivalents at beginning of year	2	1,352,244	698,284

Cash and cash equivalents at end of year	2	310,201	1,352,244

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Greensafe Holdings Limited

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 31 August 2025

Notes to the Consolidated Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	317,096	182,134
Adjustments for:
Tax on profit	93,589	71,034
Interest expense	297,222	123,989
Interest income	(19,154 )	(7,740 )
Amortisation of intangible assets	36,400	24,791
Depreciation of tangible assets	130,694	177,587
Loss on disposal of tangible assets	18,070	434
Grant income	(7,038)	(7,038)
Movements in working capital:
(Increase)/decrease in stocks	(140,837 )	210,177
Decrease/(increase) in trade and other debtors	53,834	(384,183 )
(Decrease)/increase in trade and other creditors	(734,957 )	1,560,417

Net cash generated from operations	44,919	1,951,602

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	310,201	1,352,244

3. Analysis of changes in net debt

	As at 1 September 2024	Cash flows	As at 31 August 2025
	£	£	£
Cash at bank and in hand	1,352,244	(1,042,043)	310,201
Finance leases	(157,005)	21,371	(135,634)
Debts falling due within one year	(126,255 )	(75,166)	(201,421 )
Debts falling due after more than one year	(3,840,933)	207,606	(3,633,327)

	(2,771,949)	(888,232)	(3,660,181)

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Greensafe Holdings Limited

Notes to the Financial Statements

For The Year Ended 31 August 2025

Notes to the Financial Statements

1. General Information

Greensafe Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09921245 . The registered office is Aventine House, Edwin Avenue, Kidderminster, Worcestershire, DY11 7RA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Basis Of Consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 August 2025.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.

Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

2.3. Going Concern Disclosure

The financial statements have been prepared on a going concern basis, which assumes that the Company will continue in operational existence for the foreseeable future. The directors have considered the working capital requirements for a period of 12 months from the date of this report and have concluded that there are no material uncertainties that may cast significant doubt on the Company’s ability to continue as a going concern.

2.4. Significant judgements and estimations

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and the reported amounts of assets, liabilities, income and expenses. These estimates and judgements are continually reviewed and are based on past experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements are disclosed below:

Estimated life of fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation. The depreciation rates are set with reference to the estimated useful lives of each asset.

Valuation of the group's freehold property

In respect of the above, the group's freehold properties were professionally valued by an independent expert using the comparable method. This method examines the prices of similar premises sold within the location.

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Greensafe Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.5. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised as the services are delivered and performance objectives are met.

2.6. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets comprise the group website. It is amortised to income statement over its estimated economic life of 10 years.

2.7. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	held at valuation
Plant & Machinery	20% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	20% to 25% reducing balance
Computer Equipment	3 years straight line

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since the last reporting date in the pattern by which the Company expects to consume an asset's future economic benefits. The carrying value of tangible fixed assets is reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. Any impairment in the value is charged to income.

2.8. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the group. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.9. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.10. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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Greensafe Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.11. Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 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.

2.12. Pensions

The group operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

2.13. Government Grant

Grants received towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.

2.14. Debtors and creditors receivable / payable within one year

Debtors and credtors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of Comprehensive Income.

3. Turnover

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	15,060,257	12,894,459

	15,060,257	12,894,459

4. Other Operating Income

	2025	2024
	£	£
Grant income	7,038	7,038

	7,038	7,038

5. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Depreciation of tangible fixed assets	130,694	177,587
Amortisation of intangible fixed assets	36,400	24,791

Page 15

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Greensafe Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

6. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the group and company's financial statements	12,650	12,600


Other Services
Audit-related assurance services	8,550	8,200
Taxation compliance service	1,050	1,000
Other non-audit services	4,950	4,800

	14,550	14,000

7. Staff Costs

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

	2025	2024
	£	£
Wages and salaries	5,475,302	5,089,026
Social security costs	568,882	455,473
Other pension costs	92,543	85,619

	6,136,727	5,630,118

8. Average Number of Employees

Group

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	49	49
Sales, marketing and distribution	10	10
Technical	43	44
Warehouse	93	89

	195	192

Company

Average number of employees, including directors, during the year was: NIL (2024: NIL)

9. Directors' remuneration

	2025	2024
	£	£
Emoluments	81,917	75,300
Company contributions to money purchase pension schemes	2,055	1,321

	83,972	76,621

Page 16

Page 17

Greensafe Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

10. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	19,154	7,740

11. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	283,338	112,628
Finance charges payable under finance leases and hire purchase contracts	13,884	11,361

	297,222	123,989

12. Tax on Profit

	Tax Rate		2025	2024
The tax charge on the profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	23.5%	117,336	77,153
Deferred Tax
Deferred taxation			(23,747 )	(6,119 )


Total tax charge for the period			93,589	71,034


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2025	2024
			£	£
Profit before tax			410,685	253,168

Tax on profit at 25% (UK standard rate)			102,671	59,495
Goodwill/depreciation not allowed for tax			41,774	47,661
Expenses not deductible for tax purposes			11,691	3,892
Tax losses utilised			-	(2,835 )
Capital allowances			(38,796 )	(37,081 )
Short term timing differences			(23,747 )	(97 )
Difference in tax rates			(4 )	(1 )

Total tax charge for the period			93,589	71,034

Page 17

Page 18

Greensafe Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

13. Intangible Assets

Group

	Other
	£
Cost
As at 1 September 2024	247,909
Additions	116,090

As at 31 August 2025	363,999

Amortisation
As at 1 September 2024	56,925
Provided during the period	36,400

As at 31 August 2025	93,325

Net Book Value
As at 31 August 2025	270,674

As at 1 September 2024	190,984

Company

The company had no intangible fixed assets as at 31 August 2025 or 31 August 2024.

14. Tangible Assets

Group

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost or Valuation
As at 1 September 2024	8,250,000	545,654	430,127	549,055
Additions	100,517	8,500	69,800	59,657
Disposals	-	-	(78,195 )	-
Revaluation	(517 )	-	-	-

As at 31 August 2025	8,350,000	554,154	421,732	608,712

Depreciation
As at 1 September 2024	-	398,828	252,709	348,485
Provided during the period	-	31,065	26,982	53,975
Disposals	-	-	(43,758 )	-

As at 31 August 2025	-	429,893	235,933	402,460

Net Book Value
As at 31 August 2025	8,350,000	124,261	185,799	206,252

As at 1 September 2024	8,250,000	146,826	177,418	200,570

Page 18

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Greensafe Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025


	Computer Equipment	Total
	£	£
Cost or Valuation
As at 1 September 2024	55,936	9,830,772
Additions	-	238,474
Disposals	-	(78,195 )
Revaluation	-	(517 )

As at 31 August 2025	55,936	9,990,534

Depreciation
As at 1 September 2024	24,109	1,024,131
Provided during the period	18,672	130,694
Disposals	-	(43,758 )

As at 31 August 2025	42,781	1,111,067

Net Book Value
As at 31 August 2025	13,155	8,879,467

As at 1 September 2024	31,827	8,806,641

The freehold property was revalued as at 31 August 2025 by John Truslove Chartered Surveyors and Valuers.

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Motor Vehicles	119,578	168,081

Company

The company had no tangible fixed assets as at 31 August 2025 or 31 August 2024.

15. Investments

Company

	Subsidiaries
	£
Cost or Valuation
As at 1 September 2024	200

As at 31 August 2025	200

Provision
As at 1 September 2024	-

As at 31 August 2025	-

Net Book Value
As at 31 August 2025	200

As at 1 September 2024	200

Page 19

Page 20

Greensafe Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

Subsidiaries

Details of the group's subsidiaries as at 31 August 2025 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Greensafe IT Limited	Aventine House, Hoo Farm Ind Estate, DY11 7RA	Ordinary	100.00%	-
Greensafe Property Limited	Aventine House, Hoo Farm Ind Estate, DY11 7RA	Ordinary	100.00%	-
Greensafe Property (Droitwich) Ltd	Aventine House, Hoo Farm Ind Estate, DY11 7RA	Ordinary	100.00%	-

The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:

16. Stocks

	2025	2024
	£	£
Stock	301,731	160,894

17. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Due within one year
Trade debtors	1,562,786	1,022,090	-	-
Prepayments and accrued income	519,591	453,605	-	-
Other debtors	102,081	2,450	-	-
Corporation tax recoverable assets	21,217	21,217	-	-
VAT	-	760,147	-	-
Amounts owed by group undertakings	-	-	759,934	759,934

	2,205,675	2,259,509	759,934	759,934

Amounts owed by group undertakings are interest free, unsecured and are repayable on demand.

18. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Net obligations under finance lease and hire purchase contracts	55,360	73,419	-	-
Trade creditors	864,141	870,873	-	-
Bank loans and overdrafts	201,421	126,255	-	-
Corporation tax	116,559	104,062	-	-
Other taxes and social security	560,236	590,651	-	-
VAT	5,709	-	-	-
Other creditors	71,067	244,719	200	200
Accruals and deferred income	555,815	1,309,156	17,850	13,000
Directors' loan accounts	808,700	858,814	-	-

	3,239,008	4,177,949	18,050	13,200

Page 20

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Greensafe Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

19. Creditors: Amounts Falling Due After More Than One Year

	Group
	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	80,274	83,586
Bank loans	3,633,327	3,840,933
Other creditors	230,512	-
Accruals and deferred income	119,656	126,694
Directors loan account	223,659	392,631

	4,287,428	4,443,844

20. Loans

An analysis of the maturity of loans is given below:

	Group
	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	201,421	126,255

	Group
	2025	2024
	£	£
Amounts falling due between one and five years:
Bank loans	3,633,327	3,840,933

Bank loans include a £2,703,491 (2024: £2,755,000) facility provided by National Westminster Bank Plc. This loan is repayable in full by May 2045 and bears and interest rate of 2.25% plus the Bank of England base rate. This loan is secured by way of a fixed and floating charge over the property and undertakings of the group's subsidiary Greensafe Property (Droitwich) Ltd.

Bank loans also include a £1,097,924 (2024: £1,128,854) facility provided by National Westminster Bank Plc. This loan is repayable in full by September 2042. This loan is secured by way of a fixed and floating charge over all property and undertakings of the group's subsidiary Greensafe Property Limited.

Bank loans also include a £33,333 (2024: £83,334) facility provided by National Westminster Bank Plc. This loan is repayable in full by April 2026. This loan is secured by way of a debenture over all of the assets of the group's subsidary Greensafe IT Limited.

The group trading subsidiary Greensafe IT Limited has provided a £1,200,000 guarantee to National Westminster Bank Plc in respect of the bank loan helf by Greensafe Property Limited and a further guarantee of £3,555,000 in respect of the bank loan held by Greensafe Property (Droitwich) Ltd.

21. Obligations Under Finance Leases and Hire Purchase

	Group
	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	55,360	73,419
Later than one year and not later than five years	80,274	83,586

	135,634	157,005

	135,634	157,005

Page 21

Page 22

Greensafe Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

22. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	572,728	595,711

23. Provisions for Liabilities

Group
	Deferred Tax	Total
	£	£
As at 1 September 2024	595,711	595,711
Utilised	(22,983 )	(22,983)

Balance at 31 August 2025	572,728	572,728

24. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
200 Ordinary Shares of £ 0.01 each	2	2

25. Pension Commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.

During the year the charge to the income statement in respect of defined contribution schemes was £92,543 (2024: £85,619).

At the statement of financial position date contributions of £NIL were due to the fund and are included in creditors.

26. Post Balance Sheet Events

There are no events that have occurred since the reporting date that need to be disclosed or adjusted for in these financial statements.

27. Related Party Disclosures

The group made sales of £8,987 (2024: £4,500) to Utsumi UK Limited, a company under common control.

Page 22