Greenbrook Industries Limited

The principal activity of the company in the year under review was that of the design and distribution of electrical products and accessories to the wholesale and re-sale markets. GOING CONCERN The accounts have been prepared on a going concern basis despite the losses suffered in the year. At the balance sheet date the company had net current liabilities of £103,948 (2023: Net Current Assets £1,615,332) and net assets of £93,343 (2023: £2,279,302), which are net of preference shares of £3,605,513 (2023: £3,605,513). The Directors have produced cashflow forecasts that show that with the existing trade finance and invoice discount facilities in place, the Company will have sufficient funds available to meet its debts as they fall due, for the foreseeable future. The debt factoring company are also holding a rebate reserve of £1,028,373 that will be released to the company as customer rebates are paid. This will also support cashflow in the short term. Two of the Directors have provided personal guarantees of £767,501 (2023: £1,580,867) of third party loans. The Directors are however hopeful that the year ended 31 December 2025 will see a breakeven and that the decisions that they had made during this difficult times since the Coronavirus pandemic, coupled with the underlying strength of the business and its brands, will ensure that the Company can continue as a going concern.