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REGISTERED NUMBER: 02864825 (England and Wales)














Strategic Report, Report of the Directors and

Audited Financial Statements

For The Year Ended 31st December 2023

for

D.Wilson Architectural Metalwork Limited

D.Wilson Architectural Metalwork Limited (Registered number: 02864825)






Contents of the Financial Statements
For The Year Ended 31st December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 8

Balance Sheet 9

Notes to the Financial Statements 10


D.Wilson Architectural Metalwork Limited

Company Information
For The Year Ended 31st December 2023







DIRECTORS: D Wilson
T Nicholls
J Mole
Ms K Hadley



SECRETARY: Ms K Hadley



REGISTERED OFFICE: Unit 24 Park Rose Industrial Estate
Middlemore Road
Smethwick
West Midlands
B66 2DZ



REGISTERED NUMBER: 02864825 (England and Wales)



SENIOR STATUTORY AUDITOR: Graham Michael Wildin



AUDITORS: Wildin (Auditors) Limited
Kings Buildings
Lydney
Gloucestershire
GL15 5HE

D.Wilson Architectural Metalwork Limited (Registered number: 02864825)

Strategic Report
For The Year Ended 31st December 2023

The directors present their strategic report for the year ended 31st December 2023.

REVIEW OF BUSINESS
The company performed much better this year, and the move last year to the new factory has allowed for increased productivity.

The company has finished the fixed price contracts which affected the previous profitability for the previous year, and new contracts are working well.

The directors are confident that the company's profitability will greatly improve further in the coming year.

PRINCIPAL RISKS AND UNCERTAINTIES
The company is in an industry where the levels of activity can change fairly quickly and therefore with the level of fixed costs which the company has it is always at risk from a downturn in work. Also as this year has shown sudden and unexpected movement in the costs of materials and labour can put the company at risk as it normally has to quote for it's work on a fixed price basis.

The higher interest rates also affect profitability.

ON BEHALF OF THE BOARD:





D Wilson - Director


15th February 2024

D.Wilson Architectural Metalwork Limited (Registered number: 02864825)

Report of the Directors
For The Year Ended 31st December 2023

The directors present their report with the financial statements of the company for the year ended 31st December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of specialists in the manufacture and installation of balustrade, staircases and feature metalwork

DIVIDENDS
No dividends will be distributed for the year ended 31st December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2023 to the date of this report.

D Wilson
T Nicholls
J Mole
Ms K Hadley

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and 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;
-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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

D.Wilson Architectural Metalwork Limited (Registered number: 02864825)

Report of the Directors
For The Year Ended 31st December 2023


AUDITORS
The auditors, Wildin (Auditors) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D Wilson - Director


15th February 2024

Report of the Independent Auditors to the Members of
D.Wilson Architectural Metalwork Limited

Opinion
We have audited the financial statements of D.Wilson Architectural Metalwork Limited (the 'company') for the year ended 31st December 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, 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 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (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 31st December 2023 and of its profit 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 Auditors' 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 UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
D.Wilson Architectural Metalwork Limited


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 Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page three, 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 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.

Report of the Independent Auditors to the Members of
D.Wilson Architectural Metalwork Limited


Auditors' 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 a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

-enquiry of management, those charged with governance around instances of actual and potential litigation and claims.
-enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations by way of data submission report, and whether they are aware of any instances of non-compliance.
-detecting and responding to the risks of fraud and whether they have knowledge of actual, suspected or alleged fraud,
-reviewed financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations in direct relation to the company.
- performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
-assessment of the nature of the industry and sector, control environment and business performance including the design of the company bonus levels.
-the matters discussed among the audit engagement team, including tax, regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential of fraud in the following areas: timing of recognition of income to despatch, posting of unusual journals and complex transactions and manipulation of company profits to meet bonus targets. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, employment law, pension legislation and tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company's ability to operate or to avoid a material penalty.

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 Report of the Auditors.

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 a Report of the Auditors 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.




Graham Michael Wildin (Senior Statutory Auditor)
for and on behalf of Wildin (Auditors) Limited
Kings Buildings
Lydney
Gloucestershire
GL15 5HE

15th February 2024

D.Wilson Architectural Metalwork Limited (Registered number: 02864825)

Statement of Income and
Retained Earnings
For The Year Ended 31st December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 7,113,635 4,130,389

Cost of sales 4,925,157 4,046,504
GROSS PROFIT 2,188,478 83,885

Administrative expenses 1,796,230 2,501,467
392,248 (2,417,582 )

Other operating income 186,424 145,511
OPERATING PROFIT/(LOSS) 4 578,672 (2,272,071 )


Interest payable and similar expenses 6 31,303 29,172
PROFIT/(LOSS) BEFORE TAXATION 547,369 (2,301,243 )

Tax on profit/(loss) 7 32,297 (449,782 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

515,072

(1,851,461

)

Retained earnings at beginning of year 1,439,189 3,290,650

RETAINED EARNINGS AT END OF
YEAR

1,954,261

1,439,189

D.Wilson Architectural Metalwork Limited (Registered number: 02864825)

Balance Sheet
31st December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 1,467,798 1,423,311

CURRENT ASSETS
Stocks 9 188,195 170,398
Debtors 10 4,067,172 4,272,406
Cash at bank and in hand 45,509 15,466
4,300,876 4,458,270
CREDITORS
Amounts falling due within one year 11 1,540,884 3,899,009
NET CURRENT ASSETS 2,759,992 559,261
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,227,790

1,982,572

CREDITORS
Amounts falling due after more than one
year

12

(167,322

)

(306,835

)

PROVISIONS FOR LIABILITIES 16 (305,177 ) (235,518 )
NET ASSETS 3,755,291 1,440,219

CAPITAL AND RESERVES
Called up share capital 17 1,801,030 1,030
Retained earnings 18 1,954,261 1,439,189
SHAREHOLDERS' FUNDS 3,755,291 1,440,219

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 15th February 2024 and were signed on its behalf by:





D Wilson - Director


D.Wilson Architectural Metalwork Limited (Registered number: 02864825)

Notes to the Financial Statements
For The Year Ended 31st December 2023

1. STATUTORY INFORMATION

D.Wilson Architectural Metalwork Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life:

Plant & Machinery 40% Reducing balance basis
Motor Vehicles 30% Reducing balance basis
Fixtures & Fittings 5 year straight line basis

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

D.Wilson Architectural Metalwork Limited (Registered number: 02864825)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 2,576,621 1,939,708
Social security costs 266,290 268,787
2,842,911 2,208,495

The average number of employees during the year was as follows:
31.12.23 31.12.22

Production & Site 40 44
Management, Admin, Accounts 18 18
58 62

31.12.23 31.12.22
£    £   
Directors' remuneration 215,663 211,213

Information regarding the highest paid director is as follows:
31.12.23 31.12.22
£    £   
Emoluments etc 215,663 211,213

4. OPERATING PROFIT/(LOSS)

The operating profit (2022 - operating loss) is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Depreciation - owned assets 162,667 18,612
Depreciation - assets on finance leases 116,778 155,466
Profit on disposal of fixed assets (46,623 ) (21,133 )
Auditors' remuneration 8,400 8,000

D.Wilson Architectural Metalwork Limited (Registered number: 02864825)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

5. EXCEPTIONAL ITEMS
31.12.23 31.12.22
£    £   
Factory Relocation costs - (575,000 )

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
Bank interest 8,437 7,605
Bank loan interest 9,518 10,846
Hire purchase 13,348 10,721
31,303 29,172

7. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax (40,137 ) (581,795 )
Prior Years & Interest 2,775 (1 )
Total current tax (37,362 ) (581,796 )

Deferred tax 69,659 132,014
Tax on profit/(loss) 32,297 (449,782 )

8. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st January 2023 148,206 1,634,262 162,739 693,712 2,638,919
Additions 81,030 127,494 61,206 145,357 415,087
Disposals - - - (209,576 ) (209,576 )
At 31st December 2023 229,236 1,761,756 223,945 629,493 2,844,430
DEPRECIATION
At 1st January 2023 - 743,120 149,953 322,535 1,215,608
Charge for year 17,551 150,416 4,267 107,211 279,445
Eliminated on disposal - - - (118,421 ) (118,421 )
At 31st December 2023 17,551 893,536 154,220 311,325 1,376,632
NET BOOK VALUE
At 31st December 2023 211,685 868,220 69,725 318,168 1,467,798
At 31st December 2022 148,206 891,142 12,786 371,177 1,423,311

D.Wilson Architectural Metalwork Limited (Registered number: 02864825)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

8. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st January 2023 143,117 541,899 685,016
Additions 35,600 145,357 180,957
Disposals - (168,311 ) (168,311 )
Transfer to ownership - (22,335 ) (22,335 )
At 31st December 2023 178,717 496,610 675,327
DEPRECIATION
At 1st January 2023 82,467 218,195 300,662
Charge for year 14,148 102,630 116,778
Eliminated on disposal - (87,472 ) (87,472 )
Transfer to ownership - (16,751 ) (16,751 )
At 31st December 2023 96,615 216,602 313,217
NET BOOK VALUE
At 31st December 2023 82,102 280,008 362,110
At 31st December 2022 60,650 323,704 384,354

9. STOCKS
31.12.23 31.12.22
£    £   
Stocks 137,037 169,274
Work-in-progress 51,158 1,124
188,195 170,398

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,476,586 1,819,578
Amounts owed by group undertakings 1,676,253 1,141,185
Other debtors - 6,329
Due from Associated Companies 123,683 447,759
Directors' current accounts 51,688 -
Tax 627,435 581,795
VAT - 18,564
Prepayments 111,527 257,196
4,067,172 4,272,406

D.Wilson Architectural Metalwork Limited (Registered number: 02864825)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other loans (see note 13) 55,027 51,468
Finance leases (see note 14) 195,635 172,167
Trade creditors 488,276 763,834
Social security and other taxes 100,083 63,868
VAT 7,438 -
Due to Associated Companies 129,209 2,125,340
Accrued expenses 565,216 722,332
1,540,884 3,899,009

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other loans (see note 13) 28,928 83,955
Finance leases (see note 14) 138,394 222,880
167,322 306,835

13. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Other loans 55,027 51,468

Amounts falling due between one and two years:
Other loans - 1-2 years 28,928 55,027

Amounts falling due between two and five years:
Other loans - 2-5 years - 28,928

14. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 195,635 172,167
Between one and five years 138,394 222,880
334,029 395,047

D.Wilson Architectural Metalwork Limited (Registered number: 02864825)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

15. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Other loans 83,955 135,423

16. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 305,177 235,518

Deferred
tax
£   
Balance at 1st January 2023 235,518
Charge to Income Statement during year 69,659
Balance at 31st December 2023 305,177

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary £1 1,000 1,000
30 A Ordinary £1 30 30
1,800,000 Redeemable Preference Shares £1 1,800,000 -
(31.12.22 -
NIL)
1,801,030 1,030

Allotted and issued:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,800,000 Preference Shares £1 1,800,000 -
(31.12.22 -
NIL)

Redeemable at any time, only at the option of D. Wilson Architectural Metalwork Ltd, out of undistributed reserves of the company.

No interest or right to a fixed dividend. Any dividend voted annually by a majority of Ordinary Shareholders.

D.Wilson Architectural Metalwork Limited (Registered number: 02864825)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

18. RESERVES
Retained
earnings
£   

At 1st January 2023 1,439,189
Profit for the year 515,072
At 31st December 2023 1,954,261

19. ULTIMATE PARENT COMPANY

D Wilson Property Holding Group Ltd is regarded by the directors as being the company's ultimate parent company.

20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2023 and 31st December 2022:

31.12.23 31.12.22
£    £   
D Wilson
Balance outstanding at start of year - -
Amounts advanced 51,688 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 51,688 -

21. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The parent company is D. Wilson Property Holding Group Ltd. The registered office address is 106 Middlemore Road, Middlemore business Park, Smethwick, West Midlands B66 2EP.

22. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Wilson.