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Registered number: 01057375 BIRKIN CLEANING SERVICES LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 TWP ACCOUNTING LLP Chartered Accountants & Statutory Auditors The Old Rectory Church Street Weybridge Surrey KT13 8DE
BIRKIN CLEANING SERVICES LIMITED COMPANY INFORMATION
Directors | S Bensi (appointed 1 May 2025)
| C Matsukubo (appointed 1 May 2025)
| T Winn (appointed 25 June 2018, resigned 25 November 2025)
| P Ashton (appointed 8 April 2016, resigned 25 November 2025)
Registered number | 01057375
Registered office | Magnet Road
| Grays
| Essex
| RM20 4DP
Independent auditor | TWP Accounting LLP
| Chartered Accountants & Statutory Auditors
| The Old Rectory
| Church Street
| Weybridge
| Surrey
| KT13 8DE
BIRKIN CLEANING SERVICES LIMITED CONTENTS
| Page
Strategic Report | 1 - 2
Directors' Report | 3 - 4
Independent Auditor's Report | 5 - 8
Statement of Profit or Loss and Other Comprehensive Income | 9
Statement of Financial Position | 10 - 11
Statement of Changes in Equity | 12
Statement of Cash Flows | 13
Notes to the Financial Statements | 14 - 32
BIRKIN CLEANING SERVICES LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
Introduction
The directors present the Strategic Report for the year ended 31 December 2025. Business Review 2025 marked a transformative year for Birkin Group as we entered a new phase of growth supported by SoftBank Robotics Ltd, which now owns over 99% of the company. Their investment has accelerated our technical, financial, and organisational development, enabling a step change in our capabilities and market position. A revised Target Operating Model (TOM) places our customers’ end users at the centre of decision making, service design, and delivery. This customer centric model aligns operations, technology, and workforce planning to deliver consistent, high quality outcomes across all sectors. Our data led approach, underpinned by access to sustainable, world leading technology and innovation, continues to differentiate Birkin. Real-time data insights, robotics, sensors and digital workflow platforms, now support the majority of our core operations. These tools allow us to design bespoke, outcome focused service propositions that exceed both customer and end user expectations. We continued to prioritise operational reliability, service quality (brilliant basics), and employee wellbeing. Investment in training, digital skills and productivity enhancing technology improved service consistency and strengthened client retention. Our commitment to fair pay and sustainable practices remained central to our culture and market reputation. Principal Risks and Uncertainties The industry remains competitive, with ongoing pressure on pricing and labour availability. Birkin mitigates these risks through: • a differentiated data-led, technology enabled service model • fair, sustainable employment practices supporting workforce stability • diversified sector exposure reducing reliance on any single market • Underpinned by robust governance and data driven performance management Supply chain disruption, wage inflation, and economic uncertainty remain external risks, but SoftBank’s backing provides financial resilience and access to innovation that mitigates many of the long term structural challenges. Key Performance Indicators In 2025, Birkin Group’s key performance indicators reflect a year of deliberate investment and transformation following SoftBank Robotics Ltd taking a >99% shareholding. This strategic backing has enabled accelerated investment into people, systems, and technology, establishing the foundations required for sustainable long term growth. Our financial performance for the year must therefore be viewed in the context of this planned transformation programme. SoftBank’s investment allowed us to expand our leadership capability, strengthen digital infrastructure, and deploy next generation cleaning technologies across key contracts driving future margin recovery and scalable growth. Our gross margin for 2025 was 17.5%, consistent with expectations given transitional staffing, training, and technology onboarding activity. These short term impacts were anticipated as we shift from legacy manual processes to a fully data enabled operating model. We expect margin improvement as automation, robotics, advanced analytics, and workforce optimisation programmes mature. Page 1
BIRKIN CLEANING SERVICES LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 EBITDA loss for the year was £280,851, reflecting continued investment in people, including training in digital tools and technology-enabled workflows. These investments directly support our long term operating model by creating a more capable, technology literate workforce. Loss before tax for 2025 was £1,737,598, influenced by strategic investment into cloud systems, operational platforms, robotics deployment, and the central leadership required to oversee this period of change. These investments materially strengthen our ability to operate at scale and deliver consistent, outcome driven service propositions Revenue performance remained positive, with year-on-year revenue movement of £4,778,495, supported by improved client retention, new contract awards and market differentiation through our enhanced value proposition. SoftBank’s financial strength and robotics expertise continued to act as a significant competitive advantage in tenders and renewals, along with the customers' end users focussed Target Operating Model. Summary of 2025 KPIs • Loss Before Tax: £1,737,598 • EBITDA Loss: £280,851 • Year-on-Year Revenue Movement: £4,778,495 • Gross Profit: £5,075,300 • Gross Margin: 17.5% These results demonstrate a business in transition that is intentionally moving from a traditional labour intensive model toward a high performance, data driven, technology enabled enterprise. Future Outlook The outlook for 2026 and beyond is strongly positive. SoftBank’s continued support will enable further investment in automation, AI, and advanced analytics. Our revised Target Operating Model ensures these capabilities translate directly into service improvements and measurable client value. Birkin will continue expanding its data enabled service platform, deploying robotics and smart building integrations to improve productivity, sustainability, and user experience. These developments position the company for scalable growth across private and public-sector markets. The Board remains confident in the long term strategy and Birkin’s ability to deliver sustainable growth, enhanced margins, and industry leading service performance. This report was approved by the board on 15 July 2026 and signed on its behalf.
Page 2
BIRKIN CLEANING SERVICES LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The directors present their report and the financial statements for the year ended 31 December 2025.
Principal activity
The principal activity of the company continued to be that of industrial and commercial cleaners.
Results and dividends
The loss for the year, after taxation, amounted to £1,721,634 (2024 as restated - loss £999,262). The directors do not recommend the paying of a dividend.
Directors
The directors who served during the year were:
S Bensi (appointed 1 May 2025)
C Matsukubo (appointed 1 May 2025)
T Winn (appointed 25 June 2018, resigned 25 November 2025)
P Ashton (appointed 8 April 2016, resigned 25 November 2025)
Directors' responsibilities statement
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’. 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; ∙state whether applicable UK Accounting Standards 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's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 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.
Employee involvement
The company's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests. Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.
Disabled employees
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of Page 3
BIRKIN CLEANING SERVICES LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
Disclosure of information to auditor
Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.
Post year end events
There have been no significant events affecting the Company since the year end.
Auditor
The auditor, TWP Accounting LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 15 July 2026 and signed on its behalf.
S Bensi Director
Page 4
BIRKIN CLEANING SERVICES LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIRKIN CLEANING SERVICES LIMITED
Opinion
We have audited the financial statements of Birkin Cleaning Services Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ (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 2025 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 auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the directors' assessment of the Company's ability to continue to adopt the going concern basis of accounting included: ∙Obtaining the letter of support from the parent company and assessment of the parent company's ability to provide the support. ∙Review and assessment of the post year end management accounts. ∙Review of the assumptions adopted by management in relation to the going concern assessment of the group. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Page 5
BIRKIN CLEANING SERVICES LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIRKIN CLEANING SERVICES LIMITED (CONTINUED)
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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements. Page 6
BIRKIN CLEANING SERVICES LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIRKIN CLEANING SERVICES LIMITED (CONTINUED) Matters on which we are required to report by exception In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit. Responsibilities of directors As explained more fully in the directors' responsibilities statement on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ∙Obtain an understanding of the policies and procedures management has in place to detect and prevent fraud and non-compliance with laws and regulations. ∙Enquire of management any cases of actual or suspected fraud and non-compliance with laws and regulations. ∙Enquire of management and those charged with governance around actual and potential litigation and claims. ∙Enquire of management, those charged with governance and the entity’s in-house legal team around actual and potential litigation and claims. ∙Reviewing minutes of meetings of those charged with governance. ∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. ∙Assess the key risk areas within the financial statements which are susceptible to fraud or error and design our audit approach thereon. ∙Perform substantive tests on a sample of transactions throughout the financial statements to ensure that no material errors have been identified. Page 7
BIRKIN CLEANING SERVICES LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIRKIN CLEANING SERVICES LIMITED (CONTINUED) ∙Perform cut off tests on a sample of transactions to ensure income has been accounted for in the correct period. ∙Review of after year end information to ensure expenditure have been accounted for in the correct period. ∙Perform analytical review procedures to identify any irregularities and investigation thereon. ∙Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. 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 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 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. Philip Munk FCA FCCA (Senior Statutory Auditor) for and on behalf of TWP Accounting LLP Chartered Accountants & Statutory Auditors The Old Rectory Church Street Weybridge Surrey KT13 8DE 15 July 2026 Page 8
BIRKIN CLEANING SERVICES LIMITED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2025
|  |  |  | 2025 | 2024 as restated
|  |  | Note | £ | £
Revenue | 7 | 29,078,481 | 24,299,986
Cost of sales |  | (24,003,181) | (20,347,987)
Gross profit |  | 5,075,300 | 3,951,999
Administrative expenses |  | (6,408,067) | (5,171,733)
Loss from operations |  | (1,332,767) | (1,219,734)
Finance expense | 11 | (404,831) | (545,466)
Loss before tax |  | (1,737,598) | (1,765,200)
Tax credit | 12 | 15,964 | 765,938
Total comprehensive income |  | (1,721,634) | (999,262)
The notes on pages 14 to 32 form part of these financial statements.
Page 9
BIRKIN CLEANING SERVICES LIMITED REGISTERED NUMBER: 01057375 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
| 2025 | 2024 as restated
Note | £ | £
Assets |  |
Non-current assets |  |  |
Property, plant and equipment | 13 | 3,972,208 | 5,170,281
Other non-current investments | 16 | 900 | 900
|  | 3,973,108 | 5,171,181
Current assets |  |  |
Inventories | 17 | 132,925 | 110,250
Trade and other receivables | 18 | 7,034,297 | 7,640,377
Cash and cash equivalents | 28 | 1,937,817 | 1,189,041
|  | 9,105,039 | 8,939,668
Total assets |  | 13,078,147 | 14,110,849
Liabilities |  |
Non-current liabilities |  |  |
Loans and borrowings | 20 | 1,060,105 | 2,439,581
|  | 1,060,105 | 2,439,581
Current liabilities |  |  |
Bank overdraft | 28 | 2,831,150 | 2,811,651
Trade and other liabilities | 19 | 10,164,131 | 8,456,853
Loans and borrowings | 20 | 999,008 | 657,377
|  | 13,994,289 | 11,925,881
Total liabilities |  | 15,054,394 | 14,365,462
Net liabilities |  | (1,976,247) | (254,613)
Issued capital and reserves |  |  |
Share capital | 21 | 2,400 | 2,400
Retained earnings | 23,24 | (1,978,647) | (257,013)
TOTAL EQUITY |  | (1,976,247) | (254,613)
Page 10
BIRKIN CLEANING SERVICES LIMITED REGISTERED NUMBER: 01057375 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2025 The financial statements on pages 9 to 32 were approved and authorised for issue by the board of directors on 15 July 2026 and were signed on its behalf by:
S Bensi
Director
The notes on pages 14 to 32 form part of these financial statements. Page 11
BIRKIN CLEANING SERVICES LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Share capital | Retained earnings | Total equity
| £ | £ | £
At 1 January 2024 as restated | 2,400 | 742,249 | 744,649
Loss for the year | - | (999,262) | (999,262)
Total comprehensive income for the year | - | (999,262) | (999,262)
At 31 December 2024 as restated | 2,400 | (257,013) | (254,613)
At 1 January 2025 as restated | 2,400 | (257,013) | (254,613)
Loss for the year | - | (1,721,634) | (1,721,634)
Total comprehensive income for the year | - | (1,721,634) | (1,721,634)
At 31 December 2025 | 2,400 | (1,978,647) | (1,976,247)
The notes on pages 14 to 32 form part of these financial statements.
Page 12
BIRKIN CLEANING SERVICES LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025
|  |  |  | 2025 | 2024 as restated
|  |  | Note | £ | £
Cash flows from operating activities |  |  |
Loss for the year |  | (1,721,634) | (999,262)
Adjustments for |  |  |
Depreciation of property, plant and equipment | 13 | 1,051,916 | 498,346
Amortisation of intangible fixed assets | 14 | - | 5,991
Finance expense | 11 | 404,831 | 545,466
Loss on sale of property, plant and equipment |  | 49,939 | -
Income tax expense | 12 | (15,964) | (765,938)
|  | (230,912) | (715,397)
Movements in working capital: |  |  |
Decrease/(increase) in trade and other receivables |  | 608,272 | (285,888)
(Increase)/decrease in inventories |  | (22,675) | 14,350
Increase in trade and other payables |  | 883,690 | 1,648,293
Cash generated from operations |  | 1,238,375 | 661,358
Net cash from operating activities |  | 1,238,375 | 661,358
Cash flows from investing activities |  |  |
Purchases of property, plant and equipment |  | (39,207) | (281,745)
Proceeds from disposal of property, plant and equipment |  | (65,060) | (2,825)
Net cash used in investing activities |  | (104,267) | (284,570)
Cash flows from financing activities |  |  |
Interest paid |  | (404,831) | (545,466)
Net cash used in financing activities |  | (404,831) | (545,466)
Net increase/(decrease) in cash and cash equivalents |  | 729,277 | (168,678)
Cash and cash equivalents at the beginning of year |  | (1,622,610) | (1,453,932)
Cash and cash equivalents at the end of the year | 28 | (893,333) | (1,622,610)
The notes on pages 14 to 32 form part of these financial statements. Page 13
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | Basis of preparation of Financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework' and the Companies Act 2006. The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 6). The Company's ultimate parent undertaking, Softbank Group Corp incorporated in Japan, includes the Company and its wholly owned subsidiary in its consolidated financial statements. The consolidated financial statements of Softbank Group Corp are prepared in accordance with International Financial Reporting Standards and are available to the public and may be obtained from the registered office, Tokyo Portcity Takeshiba, 1-7-1, Kaigan, Minato-Ku, Tokyo 105-7537. The following principal accounting policies have been applied:
2. | Financial Reporting Standard 101 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions under FRS 101: ∙the requirements of IFRS 7 Financial Instruments: Disclosures ∙the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures ∙the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member This information is included in the consolidated financial statements of Reditus Capital Limited as at 31 December 2025 and these financial statements may be obtained from the registered office, Magnet Road, Grays, Essex, RM20 4DP. The Company's ultimate parent undertaking, Softbank Group Corp incorporated in Japan, includes the Company and its wholly owned subsidiary in its consolidated financial statements. The consolidated financial statements of Softbank Group Corp are prepared in accordance with International Financial Reporting Standards. The Company proposes to continue to adopt the reduced disclosure framework of FRS 101 in its next financial statements. 3.Accounting policies
| 3.1 | General information
Birkin Cleaning Services Limited is a company limited by shares incorporated in England and Wales. The registered office is Magnet Road, Grays, Essex, RM20 4DP. The address of the registered office is given in the company information of these financial statements. Page 14
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 3.Accounting policies (continued)
| 3.2 | Going concern
As at 31 December 2025, the company had a net liabilities position of £1,976,247 (2024: 254,613 as restated). This position primarily arises from amounts due to fellow group undertakings of £5,556,429 (2024: £4,796,005) which are repayable on demand. The lending group companies do not intend to demand repayment of these balances within 12 months from the date of approval of these financial statements. The Directors feel confident that the company, supported as required by its parent company, will have the sufficient resources to continue and adopt the going concern basis of accounting in preparing the annual financial statements.
| 3.3 | Revenue
Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The Company recognises revenue when it transfers control over a product or service to a customer.
| Rendering of services
Revenue from providing services is recognised in the accounting period in which the services are rendered. For fixed-price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously. Estimates of revenues, costs or extent of progress toward completion are revised if circumstances change. Any resulting increases or decreases in estimated revenues or costs are reflected in profit or loss in the period in which the circumstances that give rise to the revision become known by management. In case of fixed-price contracts, the customer pays the fixed amount based on a payment schedule. If the services rendered by the Company exceed the payment, a contract asset is recognised. If the payments exceed the services rendered, a contract liability is recognised. Page 15
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 3.Accounting policies (continued)
| 3.4 | Leasing
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.
| The Company as a lessee
The Company assesses whether a contract is or contains a lease, at inception of a contract. The Company recognises a right-of-use asset and a corresponding lease liability with respect to all lease agreements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low-value assets. For these leases, the Company recognises the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Company uses its incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise: ∙fixed lease payments (including in-substance fixed payments), less any lease incentives; The lease liability is included in the 'Loans and borrowings' line in the Statement of Financial Position. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses. Right-of-use assets are depreciated over the shorter period of lease term and useful life of the underlying asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the Company expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease. The right-of-use assets are included in the 'Property, Plant and Equipment' and 'Investment Property' lines, as applicable, in the Statement of Financial Position. The Company applies IAS 36 to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss as described in note 3.7. As a practical expedient, IFRS 16 permits a lessee not to separate non-lease components, and instead account for any lease and associated non-lease components as a single arrangement. The Company has used this practical expedient. Page 16
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 3.Accounting policies (continued)
| 3.5 | Employee benefits
| 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.
| 3.6 | Taxation
The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
| 3.7 | Property, plant and equipment
Items of property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses. If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment. Any gain or loss on disposal of an item of property, plant and equipment is recognised in profit or loss. Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Company. Depreciation is provided on all other items of property, plant and equipment so as to write off their carrying value over their expected useful economic lives. It is provided at the following rates:
|  | Long-term leasehold property | 20% | on cost
|  | Plant and machinery |  | 20% to 25% on cost
|  | Right of use of assets |  | Over the term of the lease
| 3.8 | Inventories
Inventories are stated at the lower of cost and net realisable value. Costs of inventories are determined on a first in, first out basis. Net realisable value represents the estimated selling price for inventories less all estimated costs of completion and costs necessary to make the sale. Page 17
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 3.Accounting policies (continued)
| 3.9 | Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand deposits, together with other short-term, highly liquid investments maturing within 90 days from the date of acquisition that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value.
| 3.10 | Financial instruments
Financial assets and financial liabilities are recognised when an entity becomes a party to the contractual provisions of the instruments. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.
| 3.11 | Finance costs
Finance costs are charged to profit or loss 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.
| 3.12 | Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
| 3.13 | Trade and other receivables
Short term debtors are measured at transaction price, less any impairment.
| 3.14 | Trade and other payables
Short term creditors are measured at the transaction price.
4. | Reporting entity
Birkin Cleaning Services Limited (the 'Company') is a limited company incorporated in England and Wales. The Company's registered office is at Magnet Road, Grays, Essex, RM20 4DP. The Company's principal activity is that of providing industrial and commercial cleaning services.
5. | Functional and presentation currency
These financial statements are presented in pound sterling, which is the Company's functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated. Page 18
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
6. | Accounting estimates and judgments
6.1 Judgment In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. The items in the financial statements where these judgements and estimates have been made include: Inventories Inventories are estimated to represent one months purchases of consumables at the year end based on the ongoing hours required to complete the next month's jobs scheduled. Tangible Fixed assets depreciation Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation and shifts in market forces and conditions are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the assets and projected disposal values.
7. | Revenue
| The following is an analysis of the Company's revenue for the year from continuing operations:
|  |  |  |  | 2025 | 2024 as restated
|  |  |  |  | £ | £
| Cleaning service income | 29,078,481 | 24,299,986
|  | 29,078,481 | 24,299,986
| Analysis of revenue by country of destination:
|  |  |  |  | 2025 | 2024 as restated
|  |  |  |  | £ | £
| United Kingdom | 29,078,481 | 24,299,986
|  | 29,078,481 | 24,299,986
Page 19
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8. | Auditor's remuneration
| During the year, the Company obtained the following services from the Company's auditor:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditor for the audit of the Company's financial statements | 36,450 | 41,407
9. | Employee benefit expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Employee benefit expenses (including directors) comprise: |  |
| Wages and salaries | 22,862,275 | 18,742,650
| National insurance | 2,019,717 | 1,119,637
| Defined contribution pension cost | 658,595 | 410,160
|  | 25,540,587 | 20,272,447
| The monthly average number of persons, including the directors, employed by the Company during the year was as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | No. | No.
| Direct labour | 1,588 | 1,326
| Admin staff | 46 | 47
| Directors | 2 | 2
|  | 1,636 | 1,375
Page 20
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 307,146 | 37,849
| Company contributions to pension schemes | 48,751 | -
|  | 355,897 | 37,849
| During the year, retirement benefits were accruing to the following number of directors in respect of qualifying services:
|  |  |  |  | 2025 | 2024
| Defined contribution schemes | 2 | -
| The highest paid director's emoluments were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Total emoluments | 169,305 | 10,000
| Company contributions to pension schemes | 37,226 | -
|  | 206,531 | 10,000
11. | Finance income and expense
| Recognised in profit or loss
|  |  |  |  | 2025 | 2024 as restated
|  |  |  |  | £ | £
| Finance expense |  |
| Bank interest payable | 143,969 | 166,729
| Lease interest payable | 208,553 | 81,700
| Interest on overdue tax | - | 255,786
| Hire purchase interest payable | 52,309 | 41,251
| Total finance expense | 404,831 | 545,466
| Net finance expense recognised in profit or loss | (404,831) | (545,466)
Page 21
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
12. | Tax expense
| 12.1 Income tax recognised in profit or loss
|  |  |  |  | 2025 | 2024 as restated
|  |  |  |  | £ | £
| Current tax |  |
| Current tax on profits for the year | - | (19,115)
| Adjustments in respect of prior years | (15,964) | (8,873)
| Total current tax | (15,964) | (27,988)
| Deferred tax expense |  |
| Origination and reversal of timing differences | - | (737,950)
| Total deferred tax | - | (737,950)
|  | (15,964) | (765,938)
| Total tax expense |  |
| Tax expense excluding tax on sale of discontinued operation and share of tax of equity accounted associates and joint ventures | (15,964) | (765,938)
|  | (15,964) | (765,938)
Page 22
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 12.Tax expense (continued)
| 12.1 Income tax recognised in profit or loss (continued)
| The reasons for the difference between the actual tax charge for the year and the standard rate of corporation tax in the United Kingdom applied to losses for the year are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Loss for the year | (1,721,634) | (999,262)
| Income tax credit/expense (including income tax on associate, joint venture and discontinued operations) | (15,964) | (765,938)
| Loss before income taxes | (1,737,598) | (1,765,200)
| Tax using the Company's domestic tax rate of 25% (2024:25%) | (434,400) | (441,300)
| Expenses not deductible for tax purposes, other than goodwill, amortisation and impairment | 26,486 | 68,550
| Capital allowances for the year in excess of depreciation | 139,329 | -
| Pension accrual movement | 56,191 | 57,880
| Adjustments to tax charge in respect of prior periods | (15,964) | (8,873)
| Short-term timing difference leading to an increase/(decrease) in taxation | - | (737,950)
| Research and development tax credit | - | (52,684)
| Unrelieved tax losses carried forward | 212,394 | 348,439
| Total tax expense | (15,964) | (765,938)
| The carried forward tax losses at year end amounted to £4,006,423. The company has not recognised a deferred tax asset for tax losses due to the uncertainty of timing of profits.
13. | Property, plant and equipment
|  | Long-term leasehold property | Plant and machinery | Right of use of asset | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2024 | 17,019 | 4,052,386 | - | 4,069,405
| Additions | 18,900 | 262,845 | 2,293,247 | 2,574,992
| Disposals | (17,019) | (152,990) | - | (170,009)
| At 31 December 2024 | 18,900 | 4,162,241 | 2,293,247 | 6,474,388
| Additions | - | 39,207 | - | 39,207
| Disposals | - | (225,816) | - | (225,816)
| At 31 December 2025 | 18,900 | 3,975,632 | 2,293,247 | 6,287,779
Page 23
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 13.Property, plant and equipment (continued)
|  | Long-term leasehold property | Plant and machinery | Right of use of asset | Total
|  | £ | £ | £ | £
| Accumulated depreciation and impairment |  |  |  |
| At 1 January 2024 | 17,019 | 837,634 | - | 854,653
| Charge owned for the year | 1,890 | 496,456 | - | 498,346
| Disposals | (17,019) | (31,873) | - | (48,892)
| At 31 December 2024 | 1,890 | 1,302,217 | - | 1,304,107
| Charge owned for the year | 3,780 | 353,641 | - | 357,421
| Charged financed for the year | - | 56,662 | 637,833 | 694,495
| Disposals | - | (40,452) | - | (40,452)
| At 31 December 2025 | 5,670 | 1,672,068 | 637,833 | 2,315,571
| Net book value |  |  |  |
| At 31 December 2024 | 17,010 | 2,860,024 | 2,293,247 | 5,170,281
| At 31 December 2025 | 13,230 | 2,303,564 | 1,655,414 | 3,972,208
| 13.1. Assets held under leases
| The net book value of owned and leased assets included as "Property, plant and equipment" in the Statement of Financial Position is as follows:
|  | 31 December 2025 | 31 December 2024
|  | £ | £
| Property, plant and equipment owned | 2,316,795 | 2,877,035
| Right-of-use assets, excluding investment property | 1,655,413 | 2,293,246
|  | 3,972,208 | 5,170,281
Page 24
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 13.Property, plant and equipment (continued)
| 13.1 Assets held under leases (continued)
| Information about right-of-use assets is summarised below: Net book value
|  |  |  | 31 December 2025 | 31 December 2024
|  |  |  | £ | £
| Property | 279,304 | 313,159
| Plant and machinery | 1,147,392 | 1,590,803
| Motor vehicles | 228,717 | 389,284
|  | 1,655,413 | 2,293,246
| Depreciation charge for the year ended
|  |  |  | 31 December 2025 | 31 December 2024
|  |  |  | £ | £
| Property | 33,855 | -
| Plant and machinery | 443,410 | -
| Motor vehicles | 217,230 | -
|  | 694,495 | -
| Additions to right-of-use assets
|  |  |  | 31 December 2025 | 31 December 2024
|  |  |  | £ | £
| Additions to right-of-use assets | - | 2,293,247
| Included within the depreciation charge for the year ended 31 December 2025 is an amount of £56,662 relating to motor vehicles on hire purchase these assets have a net book value of £74,475 at 31 December 2025.
Page 25
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
14. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 January 2024 | 259,347
| At 31 December 2024 | 259,347
| Disposals | (259,347)
|  | Goodwill
|  | £
| Accumulated amortisation and impairment |
| At 1 January 2024 | 253,356
| Charge for the year - owned | 5,991
| At 31 December 2024 | 259,347
| Disposals | (259,347)
| Net book value |
| At 1 January 2024 | 5,991
| Goodwill represented the difference between the costs paid for Clean Sweep Ltd and the net assets of the company as at 6 June 2014 when the trade and assets were hived up to Birkin Cleaning Services Limited. As the hive up took place more than ten years ago, the goodwill has been disposed of in the current year.
15. | Subsidiaries
| Details of the Company's material subsidiaries at the end of the reporting period are as follows:
| Name of subsidiary |  | Principal activity | Place of incorporation and operation | Proportion of ownership interest and voting power held by the Company (%)
|  |  |  |  |  | 2025 | 2024
| 1) Clean Sweep Ltd | Dormant | England & Wales | 100 | 100
| Name of subsidiary | Aggregate of capital and reserves
|  | £
| 1) Clean Sweep Ltd | 900
Page 26
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
16. | Other non-current investments
|  |  |  | 2025 | 2024
|  |  |  | £ | £
| Investments in subsidiary companies |  | 900 | 900
|  |  | 900 | 900
17. | Inventories
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Consumable cleaning supplies | 132,925 | 110,250
|  | 132,925 | 110,250
18. | Trade and other receivables
|  | 2025 | 2024 as restated
|  | £ | £
| Trade receivables | 3,656,925 | 3,957,603
| Trade receivables - net | 3,656,925 | 3,957,603
| Receivables from related parties | 3,010,327 | 3,011,341
| Accrued income | 258,538 | 150,812
| Total financial assets other than cash and cash equivalents classified as loans and receivables | 6,925,790 | 7,119,756
| Prepayments | 104,263 | 79,551
| Other receivables | 4,244 | 441,070
| Total trade and other receivables | 7,034,297 | 7,640,377
| Total current portion | (7,034,297) | (7,640,377)
Page 27
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
19. | Trade and other payables
|  | 2025 | 2024 as restated
|  | £ | £
| Trade payables | 959,125 | 885,908
| Payables to related parties | 5,556,429 | 4,796,005
| Other payables | 2,052,144 | 1,471,870
| Accruals | 435,773 | 497,526
| Total financial liabilities, excluding loans and borrowings, classified as financial liabilities measured at amortised cost | 9,003,471 | 7,651,309
| Other payables - tax and social security payments | 1,160,660 | 805,544
| Total trade and other payables | 10,164,131 | 8,456,853
| Less: current portion - trade payables | (959,125) | (885,908)
| Less: current portion - payables to related parties | (5,556,429) | (4,796,005)
| Less: current portion - other payables | (3,212,804) | (2,277,414)
| Less: current portion - accruals | (435,773) | (497,526)
| Total current portion | (10,164,131) | (8,456,853)
| Total non-current position | - | -
| During the year the company entered into a formal loan agreement with Reditus Capital Ltd, a fellow group member. The loan facility of £2,800,000 is unsecured and interest is payable at a rate of 9% per annum.
Page 28
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
20. | Loans and borrowings
|  | 2025 | 2024
|  | £ | £
| Non-current |  |
| Secured Loans | - | 420,670
| Lease liabilities | 1,060,105 | 2,018,911
|  | 1,060,105 | 2,439,581
| Current |  |
| Invoice factoring debt | 2,831,150 | 2,811,651
| Secured Loans | 247,838 | -
| Lease liabilities | 751,170 | 657,377
|  | 3,830,158 | 3,469,028
| Total loans and borrowings | 4,890,263 | 5,908,609
| At the balance sheet date the company had outstanding advances totalling £2,831,150 (2024: £2,811,651) in respect of invoice discounting against trade receivables secured by fixed charges over the company's assets to the benefit of RBS Invoice Finance Limited. The company continues to handle collections from the debtors and remains exposed to the risk of default by customers. It also continues to recognise the full carrying amount of the receivables discounted and has recognised the cash received on the transfer as a secured loan. The bank is not entitled to sell the trade receivables or use them as security for its own borrowings. The company has convertible loan notes in issue totalling £247,838 (2024: £420,670 (included in long term loans)). These loan notes are repayable at a rate of £65,000 per quarter and are expected to be fully repaid in the next financial year end. The loan notes bear interest at a rate of 8% per annum. The loan notes are secured by fixed and floating charges over the assets of group companies, notably Birkin Cleaning Services Limited, Reditus Capital Limited, Birkin Group Limited, Birkin Security Services Limited, Clean Sweep Limited and JCA Capital Limited.
21. | Share capital
| Authorised |
|  | 2025 | 2025 | 2024 | 2024
|  | Number | £ | Number | £
| Shares treated as equity |  |  |  |
| Ordinary fully paid shares of £1.00 each | 2,400 | 2,400 | 2,400 | 2,400
|  | 2,400 | 2,400 | 2,400 | 2,400
Page 29
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 21.Share capital (continued)
| Issued and fully paid |
|  | 2025 | 2025 | 2024 | 2024
|  | Number | £ | Number | £
| Ordinary fully paid shares of £1.00 each |  |  |  |
| At 1 January and 31 December | 2,400 | 2,400 | 2,400 | 2,400
22. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £658,595 (2024 - £410,160). Contributions totaling £507,209 (2024 - £282,444) were payable to the fund at the balance sheet date and are included in creditors.
23. | Reserves
Retained earnings The retained earnings account represents profits and losses net of adjustments.
24. | Prior year adjustment
Prior year adjustments have been incorporated into these financial statements to rectify material misstatements in the figures presented for the year ended 31 December 2024, primarily in relation to non-compliance with UK GAAP. These misstatements were largely attributable to the incorrect application of the accruals concept and misclassification of assets and liabilities. The net effect of these adjustments includes: • An increase to deferred income of £170,833 • An increase to accruals of £118,500 • A reduction in intangible fixed assets of £507,499 • A reduction in cost of sales of £50,000 • A reduction in sales of £56,000 • An increase in administrative expenses of £298,589 The cumulative impact of these adjustments has resulted in a reduction of £796,832 in the retained earnings as at 1 January 2025, including a reduction of £492,243 in the retained earning s as at 1 January 2024. There has been no effect on the corporation tax position due to the availability of accumulated carried forward tax losses.
25. | Capital commitments
At 31 December 2025 the Company had capital commitments contracted for but not provided in these financial statements £134,155 (2024 - £nil). Page 30
BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
26. | Related party transactions
During the year services received from connected companies controlled by the previous directors T Winn and P Ashton amounted to £64,729 (2024 - £114,131). During the current year, consultancies and service fees amounting to £509,308 (2024- £nil) has been charged by Softbank Robotics UK Limited (parent Company). During the year an amount of £nil (2024: £32,932) was paid to a close family member of a director as remuneration under their contract of employment. The company has taken advantage of exemptions under IAS24 and the requirement to disclose information about transactions with fellow wholly owned members of the group.
27. | Controlling party
The immediate parent company of Birkin Cleaning Services Limited is Birkin Group Limited. The registered office of the parent company is Magnet Road, West Thurrock, Grays, England, RM20 4DR. The ultimate parent company at the balance sheet date was Softbank Group Corp., a company incorporated in Japan. Softbank Group Corp. is the parent company of the largest group for which group accounts are drawn up and of which Birkin Cleaning Services Limited is a member. Group accounts are available from its registered office, 1-9-1, Higashi-Shimbashi, Tokyo, Japan. Reditus Capital Limited, a company incorporated in England, is the parent undertaking of the smallest group for which group accounts are drawn up and of which Birkin Cleaning Services Limited is a member. Copies of the group accounts are available from Companies House.
28. | Notes supporting statement of cash flows
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank available on demand | 1,937,817 | 1,189,041
| Cash and cash equivalents in the statement of financial position | 1,937,817 | 1,189,041
| Bank overdrafts used for cash management purposes | (2,831,150) | (2,811,651)
| Cash and cash equivalents in the statement of cash flows | (893,333) | (1,622,610)
29. | Capital management
| The Company is not subject to any externally imposed capital requirements.
| The gearing ratios at 31 December 2025 and 31 December 2024 were as follows:
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BIRKIN CLEANING SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 29.Capital management (continued)
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash and cash equivalents | 893,333 | 1,622,610
| Net debt | 893,333 | 1,622,610
| Capital and reserves | (1,976,247) | (254,613)
| Total equity | (1,976,247) | (254,613)
| Net debt to total equity ratio | (45)% | (637)%
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