GREEN (TOPCO) LIMITED
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Cash
£22M
Latest balance sheet
Net assets
-£9M
Equity attributable
Employees
436
Average over period
Profit before tax
£15M
Period ending 2023-12-31
Net assets
2-year trend · vs Unclassified median
Accounts
2-year trend · latest reflected 2023-12-31
| Metric | Trend | 2022-12-31 | 2023-12-31 |
|---|---|---|---|
| Turnover | £270,350,000 | £220,847,000 | |
| Operating profit | £7,005,000 | £14,998,000 | |
| Profit before tax | -£753,000 | £15,198,000 | |
| Net profit | -£7,974,000 | £17,813,000 | |
| Cash | £43,745,000 | £22,065,000 | |
| Total assets less current liabilities | £36,981,000 | £67,569,000 | |
| Net assets | -£24,985,000 | -£8,994,000 | |
| Equity | -£24,985,000 | -£8,994,000 | |
| Average employees | 337 | 436 | |
| Wages | £36,970,000 | £31,337,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2022-12-31 | 2023-12-31 |
|---|---|---|---|
| Operating margin | 2.6% | 6.8% | |
| Net margin | -2.9% | 8.1% | |
| Return on capital employed | 18.9% | 22.2% | |
| Gearing (liabilities / total assets) | 115.0% | 104.5% | |
| Current ratio | 0.80x | 1.04x | |
| Interest cover | 0.86x | — |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- KPMG
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on a going concern basis. In adopting the going concern basis, the Directors have considered the Group's operations and principal risks and uncertainties as detailed in the Strategic report. The Directors' going concern assessment covers the period to 31 December 2025. Stress testing has been carried out to ensure the Group has sufficient cash resources to continue in operation for the period to 31 December 2025. The stress testing to a worst-case scenario showed that the Group would be able to withstand the severe but plausible scenario by taking appropriate and reasonable management action. In making its assessment, the Directors considered the outcome of the worst-case modelled scenario against the Group's current and projected future net cash and liquidity position and determined that the cash and liquidity runway from the Group's operations would extend through to the end of the 2025 financial year. Although the Group is in a net liability position, this assessment and the continued financial support of its immediate parent company Ibiza Holdings Limited, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for a period of at least 12 months from the date of approval of these financial statements and consider it appropriate to continue to adopt the going concern basis in preparing the financial statements for the year ended 31 December 2023.”
Group structure
- GREEN (TOPCO) LIMITED · parent
- Green (Holdco) Limited 100%
- Green (Buyco) Limited 100%
- Green (Newco) Limited 100%
- Incendium Consulting Limited 100%
- Brattle Cameron Limited 100%
- Corporate Property Consulting Limited 100%
- Instant Offices (Holdings) Limited 100%
- Instant Offices (Bidco) Limited 100%
- Instant Offices Limited 100%
- Instant Managed Offices Limited 100%
- Instant Offices Holding Inc. 100%
- Instant Offices (RE) LLC 100%
- Instant Offices GmbH 100%
- Instant Offices Hong Kong Limited 100%
- Instant Offices Australia Pty Ltd 100%
- Instant Managed Offices Malaysia Sdn. Bhd. 100%
- Instant Singapore Private Limited 100%
- Instant Offices Kft. 100%
- Instant Offices B.V. 100%
- Instant Offices S.L. 100%
- Instant Offices Sweden AB 100%
- Instant Offices SARL 100%
- Instant Managed Offices Philippines Inc 100%
- Instant Offices Philippines Inc 100%
- Instant Offices Business Solutions India Private Limited 100%
- Instant Managed Offices China Ltd 100%
- Instant Offices NZ Ltd 100%
- S Tower Prime Centre Ltd 100%
- Worka Instant Offices Mexico, S.A. de C.V. 100%
- Objektia AB 73.2%
- Property Solutions Africa Proprietary Limited 100%
- Instant Offices S.R.O. 100%
Significant events
- “On 8 March 2022 the Company and its subsidiaries (collectively, "Instant Group") were acquired by Ibiza Holdings Limited. Ibiza Holdings Limited is owned and controlled by IWG plc.”
- “On 10 July 2023, the Group acquired the assets of Objektia AB, a Sweden-based real estate business for a purchase price of €6.5m (£5.7m).”
- “On 26 September 2023, the Group acquired the assets of Property Solutions Africa Proprietary Limited, a South Africa-based real estate business for a purchase price of ZAR 18.6m (£0.8m).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MOURANT SECRETARIES (JERSEY) LIMITED | Corporate Secretary | 2019-08-01 | — | — |
| BOOTH, James Michael | Director | 2019-08-01 | Oct 1973 | British |
| DUNCAN, William | Director | 2019-08-01 | Oct 1973 | British |
| RODBER, Timothy Andrew | Director | 2019-08-01 | Jul 1969 | British |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| IND, Charles Thomas Messiter | Director | 2019-08-01 | 2022-03-09 |
| JONES, Luke Daniel | Director | 2019-08-01 | 2022-03-09 |
| LAND, Nicholas Charles Edward | Director | 2019-09-21 | 2024-11-20 |
| SHELFORD, Tom | Director | 2019-08-01 | 2022-03-09 |
Ownership
Persons with significant control
Filing timeline
Last 17 of 17 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-04-23 | AA | accounts | Accounts with accounts type group | |
| 2025-01-14 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2024-02-22 | AA | accounts | Accounts with accounts type group | |
| 2023-03-31 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2022-08-03 | AA01 | accounts | Change account reference date company current extended | |
| 2022-04-29 | AA | accounts | Accounts with accounts type group | |
| 2022-04-25 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2022-04-25 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2022-04-12 | OSCH01 | other | Change company details by uk establishment overseas company with change details | |
| 2021-02-08 | AA | accounts | Accounts with accounts type full | |
| 2021-02-08 | AA | accounts | Accounts with accounts type full | |
| 2020-07-17 | OSAP01 | officers | Appoint person director overseas company with name appointment date | |
| 2020-07-03 | OSAP01 | officers | Appoint person director overseas company with name appointment date | |
| 2020-07-03 | OSAP01 | officers | Appoint person director overseas company with name appointment date | |
| 2020-05-21 | AA01 | accounts | Change account reference date company current shortened | |
| 2019-08-01 | OS-PAR | annual-return | Appointment at registration of person authorised to represent | |
| 2019-08-01 | OSIN01 | incorporation | Register overseas company |
Public-record activity
Raw counts from Companies House — last 12–24 months
Year-on-year
FY2022 → FY2023 · period ending 2023-12-31 vs 2022-12-31