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Registered number: 13716786
REDITUS CAPITAL 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
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REDITUS CAPITAL LIMITED
COMPANY INFORMATION
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S Bensi (appointed 19 May 2023)
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C Matsukubo (appointed 1 May 2025)
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P Ashton (resigned 28 November 2025)
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T Winn (resigned 28 November 2025)
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Y Nakada (appointed 1 January 2025, resigned 1 May 2025)
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Chartered Accountants & Statutory Auditors
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REDITUS CAPITAL LIMITED
CONTENTS
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Independent Auditor's Report
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Consolidated Statement of Profit or Loss and Other Comprehensive Income
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Consolidated Statement of Financial Position
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Company Statement of Financial Position
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Consolidated Statement of Changes in Equity
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Company Statement of Changes in Equity
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Consolidated Statement of Cash Flows
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Notes to the Consolidated Financial Statements
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REDITUS CAPITAL LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
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.
EBITDA loss for the year was £303,888, 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 £5,479,268, 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.
Page 1
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REDITUS CAPITAL LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
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: £5,479,268
• EBITDA Loss: £303,888
• 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
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REDITUS CAPITAL 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.
The principal activity of the company was a holding company whilst that of the group was industrial and commercial cleaners.
The loss for the year, after taxation, amounted to £5,463,304 (2024 as restated - loss £1,706,861).
The directors do not recommend the paying of a dividend.
The directors who served during the year were:
S Bensi (appointed 19 May 2023)
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C Matsukubo (appointed 1 May 2025)
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P Ashton (resigned 28 November 2025)
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T Winn (resigned 28 November 2025)
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Y Nakada (appointed 1 January 2025, resigned 1 May 2025)
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Directors' responsibilities statement
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The directors are responsible for preparing the Group Strategic Report, Directors' Report and the consolidated financial statements, in accordance with applicable law.
Company law requires the directors to prepare consolidated financial statements for each financial year. Under that law they have elected to prepare the consolidated financial statements in accordance with UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006.
Under company law the directors must not approve the consolidated financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of the profit or loss of the Group for that period. In preparing the consolidated financial statements, the directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgments and estimates that are reasonable and prudent;
∙state whether they have been prepared in accordance with IFRS Accounting Standards in conformity with the requirements of the Companies Act 2006, subject to any material departures disclosed and explained in the financial statements;
∙assess the Group and Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
∙use the going concern basis of accounting unless they either intend to liquidate the Group or the Company or to cease operations, or have no realistic alternative but to do so.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Parent Company's transactions and disclose with reasonable accuracy at any time the financial position of the Parent Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Group and to prevent and detect fraud and other irregularities.
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REDITUS CAPITAL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The group'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 group's performance.
There is no employee share scheme at present, but the directors are considering the introduction of such a scheme as a means of further encouraging the involvement of employees in the company's performance.
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group 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
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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 and the Group'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 and the Group's auditor is aware of that information.
There have been no significant events affecting the Group since the year end.
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.
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REDITUS CAPITAL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF REDITUS CAPITAL LIMITED
We have audited the financial statements of Reditus Capital Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025 which comprise the Consolidated Statement of Profit or Loss and Other Comprehensive Income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of material accounting policies set out on pages 17 - 24. The financial reporting framework that has been applied in the preparation of the financial statements is applicable law and UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006.
In our opinion:
∙the financial statements give a true and fair view of the state of the Group's and the Parent Company's affairs as at 31 December 2025 and of the Group's loss for the year then ended;
∙the Group financial statements have been properly prepared in accordance with UK-adopted international accounting standards; and
∙the financial statements have been prepared in accordance with the requirements of the Companies Act 2006.
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 the Parent 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
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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 Group's and the Parent 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 Group's or the Parent 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.
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REDITUS CAPITAL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF REDITUS CAPITAL LIMITED (CONTINUED)
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
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In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group 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 Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 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 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's and the 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
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REDITUS CAPITAL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF REDITUS CAPITAL LIMITED (CONTINUED)
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.
∙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.
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REDITUS CAPITAL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF REDITUS CAPITAL LIMITED (CONTINUED)
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
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REDITUS CAPITAL LIMITED
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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Amounts written off on investments
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Total comprehensive income
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The notes on pages 17 to 43 form part of these financial statements.
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Page 9
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REDITUS CAPITAL LIMITED
REGISTERED NUMBER: 13716786
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Property, plant and equipment
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Trade and other receivables
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Cash and cash equivalents
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Trade and other liabilities
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Page 10
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REDITUS CAPITAL LIMITED
REGISTERED NUMBER: 13716786
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
Issued capital and reserves attributable to owners of the parent
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The financial statements on pages 9 to 43 were approved and authorised for issue by the board of directors on 15 July 2026 and were signed on its behalf by:
The notes on pages 17 to 43 form part of these financial statements.
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REDITUS CAPITAL LIMITED
REGISTERED NUMBER: 13716786
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Other non-current investments
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Trade and other receivables
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Trade and other liabilities
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Issued capital and reserves attributable to owners of the parent
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Page 12
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REDITUS CAPITAL LIMITED
REGISTERED NUMBER: 13716786
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The Company's loss for the year was £2,174,952 (2024 - £228,093).
The financial statements on pages 9 to 43 were approved and authorised for issue by the board of directors on 15 July 2026 and were signed on its behalf by:
The notes on pages 17 to 43 form part of these financial statements.
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REDITUS CAPITAL LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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Total attributable to equity holders of parent
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At 1 January 2024 as restated
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Total comprehensive income for the year
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At 31 December 2024 as restated
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At 1 January 2025 as restated
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Total comprehensive income for the year
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Total contributions by and distributions to owners
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The notes on pages 17 to 43 form part of these financial statements.
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Page 14
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REDITUS CAPITAL LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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Total comprehensive income for the year
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Total comprehensive income for the year
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Total contributions by and distributions to owners
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The notes on pages 17 to 43 form part of these financial statements.
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REDITUS CAPITAL LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
Cash flows from operating activities
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Depreciation of property, plant and equipment
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Loss on sale of property, plant and equipment
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Amortisation of intangible fixed assets
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Impairment losses on intangible assets
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Movements in working capital:
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Decrease/(increase) in trade and other receivables
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(Increase)/decrease in inventories
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Increase in trade and other payables
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Cash generated from operations
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Net cash from operating activities
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Cash flows from investing activities
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Purchases of property, plant and equipment
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Proceeds from disposal of property, plant and equipment
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Net cash used in investing activities
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Cash flows from financing activities
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Net cash used in financing activities
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Net increase/(decrease) in cash and cash equivalents
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Cash and cash equivalents at the beginning of year
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Cash and cash equivalents at the end of the year
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The notes on pages 17 to 43 form part of these financial statements.
Page 16
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies
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Basis of preparation of Financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with International Financial Reporting Standards and the Companies Act 2006.
The preparation of financial statements in compliance with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 4).
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:
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First time transition to International Financial Reporting Standards
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These financial statements represent the Company’s first annual financial statements prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the IASB. Previously, the Company prepared its financial statements in accordance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland.
The date of transition to IFRS is 1 January 2024, being the start of the earliest comparative period presented.
The Company has applied IFRS 1 First-time Adoption of International Financial Reporting Standards, which requires the Company to:
∙Prepare opening IFRS statement of financial position at the transition date
∙Apply IFRS standards retrospectively, except where exemptions or exceptions are permitted
∙Present reconciliations from previous GAAP to IFRS
Page 17
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
The consolidated financial statements incorporate the financial statements of the Company and entities (including structured entities) controlled by the Company and its subsidiaries. Control is achieved when the Company:
∙has power over the investee;
∙is exposed, or has rights, to variable returns from its involvement with the investee; and
∙has the ability to use its power to affect its returns.
The Company reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above.
When the Company has less than a majority of the voting rights of an investee, it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The Company considers all relevant facts and circumstances in assessing whether or not the Company's voting rights in an investee are sufficient to give it power, including:
∙the size of the Company's holding of voting rights relative to the size and dispersion of holdings of the other vote holders;
∙potential voting rights held by the Company, other vote holders or other parties;
∙rights arising from other contractual arrangements; and
∙any additional facts and circumstances that indicate that the Company has, or does not have, the current ability to direct the relevant activities at this time that decisions need to be made, including voting patterns at previous shareholders' meetings.
Consolidation of a subsidiary begins when the Company obtains control over the subsidiary and ceases when the Company loses control of the subsidiary. Specifically, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated statement of profit or loss and other comprehensive income from the date the Company gains control until the date when the Company ceases to control the subsidiary.
Profit or loss and each component of other comprehensive income are attributed to the owners of the Company and to the non-controlling interests. Total comprehensive income of subsidiaries is attributed to the owners of the Company and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance.
When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with the Group's accounting policies.
All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.
Page 18
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
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Basis of consolidation (continued)
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Changes in the Group's ownership interests in existing subsidiaries
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Changes in the Group's ownership interests in subsidiaries that do not result in the Group losing control over the subsidiaries are accounted for as equity transactions. The carrying amounts of the Group's interests and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognised directly in equity and attributed to owners of the Company.
When the Group loses control of a subsidiary, a gain or loss is recognised in profit or loss and its calculated as the difference between (i) the aggregate of the fair value of the consideration received and the fair value of any retained interest and (ii) the previous carrying amount of the assets (including goodwill), and liabilities of the subsidiary and any non-controlling interests. All amounts previously recognised in other comprehensive income in relation to that subsidiary are accounted for as if the Group had directly disposed of the related assets or liabilities of the subsidiary (i.e. reclassified to profit or loss or transferred to another category of equity as specified/permitted by applicable IFRSs). The fair value of any investment retained in the former subsidiary at the date when control is lost is regarded as the fair value on initial recognition for subsequent account under IFRS9, when applicable, the cost on initial recognition of an investment in an associate or a joint venture.
Reditus Capital Limite ("the company") is a private limited company domiciled and 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.
During the year, the Company converted £1.5 million of the outstanding debt owed to its parent company into equity. The Directors consider that, following this debt to equity conversion and with the continued financial support of the parent company as required, the Group will have adequate resources to meet its obligations for the foreseeable future. Accordingly, the Directors have adopted the going concern basis in preparing the annual group financial statements.
Goodwill arising on an acquisition of a business is carried at cost as established at the date of acquisition of the business less accumulated impairment losses, if any.
For the purposes of impairment testing, goodwill is allocated to each of the Group's cash-generating units (or groups of cash-generating units) that is expected to benefit from the synergies of the combination.
A cash-generating unit to which goodwill has been allocated is tested for impairment annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro rata based on the carrying amount of each asset in the unit. Any impairment loss for goodwill is recognised directly in profit or loss. An impairment loss recognised for goodwill is not reversed in subsequent periods.
On disposal of the relevant cash-generating unit, the attributable amount of goodwill is included in the determination of the profit or loss on disposal.
Page 19
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The Group recognises revenue when it transfers control over a product or service to a customer.
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 Group exceed the payment, a contract asset is recognised. If the payments exceed the services rendered, a contract liability is recognised.
Page 20
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
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 Group assesses whether a contract is or contains a lease, at inception of a contract. The Group 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 Group 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 Group 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 Consolidated 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 Group 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 Consolidated Statement of Financial Position.
The Group applies IAS 36 to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss as described in note 4.7.
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 Group has used this practical expedient.
Page 21
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
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Defined contribution pension plan
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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.
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.
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Property, plant and equipment
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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 Group.
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:
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Long-term leasehold property
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Over the term of the lease
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Page 22
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
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Intangible assets acquired in a business combination
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Intangible assets acquired in a business combination and recognised separately from goodwill are initially recognised at their fair value at the acquisition date (which is regarded as their cost).
Subsequent to initial recognition, intangible assets acquired in a business combination are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired separately.
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.
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Cash and cash equivalents
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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.
Financial assets and financial liabilities are recognised when a Group 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.
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.
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Research and development expenditure
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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.
Investments in subsidiaries are measured at cost less accumulated impairment.
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Trade and other receivables
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Short term debtors are measured at transaction price, less any impairment.
Page 23
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
Short term creditors are measured at the transaction price.
Reditus Capital 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. These consolidated financial statements comprise the Company and its subsidiaries (collectively the 'Group' and individually 'Group companies'). The Group is primarily involved in is that of
providing industrial and commercial cleaning services.
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Functional and presentation currency
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These consolidated 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.
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Accounting estimates and judgments
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7.1 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.
Page 24
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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The following is an analysis of the Group's revenue for the year from continuing operations:
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Analysis of revenue by country of destination:
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During the year, the Group obtained the following services from the Company's auditor:
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Fees payable to the Company's auditor for the audit of the consolidated and parent Company's financial statements
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Page 25
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Employee benefit expenses
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Employee benefit expenses (including directors) comprise:
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Defined contribution pension cost
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The monthly average number of persons, including the directors, employed by the Group during the year was as follows:
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Page 26
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Group contributions to pension schemes
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During the year, retirement benefits were accruing to the following number of directors in respect of qualifying services:
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Defined contribution schemes
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The highest paid director's emoluments were as follows:
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Group contributions to pension schemes
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Page 27
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Finance income and expense
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Recognised in profit or loss
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Total interest income arising from financial assets measured at amortised cost or FVOCI
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Hire purchase interest payable
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Net finance expense recognised in profit or loss
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Page 28
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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13.1 Income tax recognised in profit or loss
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Current tax on profits for the year
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Adjustments in respect of prior years
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Origination and reversal of timing differences
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Tax expense excluding tax on sale of discontinued operation and share of tax of equity accounted associates and joint ventures
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Page 29
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
13.Tax expense (continued)
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13.1 Income tax recognised in profit or loss (continued)
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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:
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Income tax credit/expense (including income tax on associate, joint venture and discontinued operations)
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Tax using the Company's domestic tax rate of 25% (2024:25%)
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Non-tax deductible amortisation of goodwill and impairment
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Expenses not deductible for tax purposes, other than goodwill, amortisation and impairment
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Capital allowances for the year in excess of depreciation
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Adjustments to tax charge in respect of prior periods
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Short-term timing difference leading to an increase/(decrease) in taxation
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Adjustment in research and development tax credit leading to an increase/(decrease) in the tax charge
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Unrelieved tax losses carried forward
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The carried forward tax losses at year end amounted to £1,061,669.
The company has not recognised a deferred tax asset for tax losses due to the uncertainty of timing of profits
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Page 30
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Property, plant and equipment
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Long-term leasehold property
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Long-term leasehold property
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Accumulated depreciation and impairment
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Charge owned for the year
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Charge owned for the year
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Charged financed for the year
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Page 31
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
14.Property, plant and equipment (continued)
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14.1. Assets held under leases
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The net book value of owned and leased assets included as "Property, plant and equipment" in the Consolidated Statement of Financial Position is as follows:
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Property, plant and equipment owned
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Right-of-use assets, excluding investment property
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Information about right-of-use assets is summarised below:
Net book value
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Depreciation charge for the year ended
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Page 32
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
14.Property, plant and equipment (continued)
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14.1 Assets held under leases (continued)
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Additions to right-of-use assets
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Additions to right-of-use assets
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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.
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Accumulated amortisation and impairment
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Charge for the year - owned
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Page 33
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Details of the Group's material subsidiaries at the end of the reporting period are as follows:
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Place of incorporation and operation
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Proportion of ownership interest and voting power held by the Group (%)
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3) Birkin Cleaning Services Limited
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Industrial and commercial cleaning services
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5) Birkin Security Services Limited
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JCA Capital Limited has the following wholly owned subsidiaries within it's group resulting in them becoming an indirectly controlled subsidiary of Reditus Capital Limited:
Birkin Group Limited
Birkin Cleaning Services Limited
Birkin Security Services Limited
Clean Sweep Limited
The registered office of JCA Capital Limited is Magnet Road, West Thurrock, Grays, England, RM20 4DP. JCA Capital Limited holds 100% of the ordinary share capital of the following companies which have the same registered office and whose principal activities relate to the commercial cleaning services: Birkin Group Limited, Birkin Cleaning Services Limited, Clean Sweep Limited and Birkin Security Services Limited.
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Investments in subsidiary companies
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Page 34
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Consumable cleaning supplies
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Trade and other receivables
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Total financial assets other than cash and cash equivalents classified as loans and receivables
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Total trade and other receivables
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Receivables from related parties
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Total financial assets other than cash and cash equivalents classified as loans and receivables
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Total trade and other receivables
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Page 35
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Payables to related parties
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Total financial liabilities, excluding loans and borrowings, classified as financial liabilities measured at amortised cost
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Other payables - tax and social security payments
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Total trade and other payables
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Less: current portion - trade payables
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Less: current portion - payables to related parties
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Less: current portion - other payables
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Less: current portion - accruals
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Total non-current position
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Total financial liabilities, excluding loans and borrowings, classified as financial liabilities measured at amortised cost
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Other payables - tax and social security payments
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Total trade and other payables
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Less: current portion - other payables
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Less: current portion - accruals
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Total non-current position
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Page 36
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Total loans and borrowings
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At the balance sheet date the group 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 group 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.
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Page 37
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Total loans and borrowings
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Included within secured loans and other loans are the amounts of £218,749 respectively (2024 - £18,750 secured loans and £214,197 other loans) which mature in January 2026. Interest is payable on the loan annually at a rate of 8% per annum. Capital repayments are £18,750 for the first 3 years followed by the balance on the fourth anniversary.
Loans from the previous directors totalling £1,375,974 (2024 - £1,375,974) which are redeemable in March 2029 and bear interest at a rate of 9% per annum. During the current year interest amounting to £123,838 has been included with accruals at the balnace sheet date.
Loans from parent undertaking:
A loan from the immediate parent company, Softbank Robotics UK Ltd, of £3,553,418 due within more than one year (2024 - £1,442,694 due within more than one year and £2,888,034 due within more than one year) bears interest at a rate of 9% per annum. This loan is secured by a fixed and floating charge over the assets of Reditus Capital Limited. During the current year interest amounting to £211,067 has been included with accruals at the balance sheet date.
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Ordinary A class shares of £0.0001 each
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Ordinary B class shares of £0.0001 each
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Ordinary C class shares of £0.0001 each
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Ordinary D class shares of £0.0001 each
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Ordinary E class shares of £0.0001 each
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Page 38
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
21.Share capital (continued)
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Ordinary A class shares of £0.0001 each
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Ordinary B class shares of £0.0001 each
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Ordinary C class shares of £0.0001 each
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At 1 January and 31 December
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Ordinary D class shares of £0.0001 each
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Ordinary E class shares of £0.0001 each
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At 1 January and 31 December
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During the current year the company has converted £1,560,654 of the debt balance owed to the parent company into share capital by allotting a further £1,560,654 of shares.
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Page 39
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group 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.
The Company does not have any pension costs or balances payable during the year.
Retained earnings
The retained earnings account represents profits and losses net of adjustments.
We confirm prior year adjustments have been incorporated into these financial statements to rectify material misstatements in the group 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 group retained earnings as at 1 January 2025, including a reduction of £492,243 in the group retained earning 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.
At 31 December 2025 the Group had capital commitments contracted for but not provided in these financial statements £134,155 (2024 - £nil).
Page 40
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Related party transactions
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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.
In accordance with IAS24 Related Party Disclosures, the Group has not disclosed transactions or balances with wholly owned subsidiaries, as such intra group transactions are eliminated on consolidation and are therefore exempt from disclosure.
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Subsidiary Companies Exemption
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The following companies are exempt from the requirement to be audited by virtue of Section 479A of The Companies Act 2006.
Birkin Group Limited (Registered Number 06383635)
JCA Capital Limited (Registered Number 09878814)
On 14th June 2024, Reditus Capital Limited was acquired by Softbank Robotics UK Limited, resulting in a change in control as defined under IFRS 10 Consolidated Financial Statements.
The immediate parent company of Reditus Capital Limited is Softbank Robotics UK Ltd. The registered office of the parent company is 30 Old Bailey, London, United Kingdom, EC4M 7AU.
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.
Softbank Robotics UK Limited, a company incorporated in England, is the parent undertaking of the smallest group for which group accounts are drawn up and of which Reditus Capital Limited Limited is a member. Copies of the group accounts are available from Companies House.
Page 41
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Notes supporting statement of cash flows
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Cash at bank available on demand
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Cash and cash equivalents in the statement of financial position
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Bank overdrafts used for cash management purposes
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Cash and cash equivalents in the statement of cash flows
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The company does not hold cash.
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Legal claim by former management
The company and its parent company are involved in legal claims between themselves and former management in respect of matters arising prior to the current reporting period.
The outcome of the claim remains uncertain and is dependent on the progression of the legal proceedings, including the resolution of a counterclaim submitted by the parent company. Based on the information currently available, it is not considered probable that an outflow of economic benefits will be required to settle the matter.
Furthermore, due to the inherent uncertainties surrounding both the claim and the counterclaim, it is not currently practicable to reliably estimate the potential financial effect, if any, of this matter.
Accordingly, no provision has been recognised in the financial statements, and the matter has been disclosed as a contingent liability in accordance with IAS 37.
Page 42
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REDITUS CAPITAL LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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The Group is not subject to any externally imposed capital requirements.
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The gearing ratios at 31 December 2025 and 31 December 2024 were as follows:
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Cash and cash equivalents
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Net debt to total equity ratio
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Page 43
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