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REGISTERED NUMBER: 06984959 (England and Wales)















Report of the Director and

Unaudited Consolidated Financial Statements for the Year Ended 29 February 2024

for

ADW Holdings Ltd

ADW Holdings Ltd (Registered number: 06984959)






Contents of the Consolidated Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Report of the Director 2

Consolidated Income Statement 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Notes to the Consolidated Financial Statements 7


ADW Holdings Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: A D Wormald





REGISTERED OFFICE: Suite 1
Butterhaw Works
Buttershaw Lane
Bradford
West Yorkshire
BD6 2DD





REGISTERED NUMBER: 06984959 (England and Wales)






ADW Holdings Ltd (Registered number: 06984959)

Report of the Director
for the Year Ended 29 February 2024

The director presents his report with the financial statements of the company and the group for the year ended 29 February 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of holding company for property trading companies.

REVIEW OF BUSINESS
The company's objective is to deliver sustainable long-term returns to its shareholders from a combination of sales, rents and fee income.This will be achieved by locating and managing the properties to obtain the best returns, and maximising income through our knowledge of changing market opportunities.

DIRECTOR
A D Wormald held office during the whole of the period from 1 March 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A D Wormald - Director


10 October 2024

ADW Holdings Ltd (Registered number: 06984959)

Consolidated Income Statement
for the Year Ended 29 February 2024

29.2.24 28.2.23
Notes £    £   

TURNOVER 3,719,839 3,326,828

Cost of sales 67,913 -
GROSS PROFIT 3,651,926 3,326,828

Administrative expenses 1,059,012 883,088
2,592,914 2,443,740

Other operating income 9,168 128,953
OPERATING PROFIT 4 2,602,082 2,572,693

Interest receivable and similar income 5,805 -
2,607,887 2,572,693

Interest payable and similar expenses 1,635,694 1,000,808
PROFIT BEFORE TAXATION 972,193 1,571,885

Tax on profit 181,528 207,103
PROFIT FOR THE FINANCIAL YEAR 790,665 1,364,782

Profit attributable to:
Owners of the parent 790,665 1,364,782

ADW Holdings Ltd (Registered number: 06984959)

Consolidated Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 51,636,891 49,167,941
Investments 7 24 24
51,636,915 49,167,965

CURRENT ASSETS
Debtors 8 209,465 187,745
Cash at bank and in hand 891,028 996,411
1,100,493 1,184,156
CREDITORS
Amounts falling due within one year 9 379,407 386,812
NET CURRENT ASSETS 721,086 797,344
TOTAL ASSETS LESS CURRENT
LIABILITIES

52,358,001

49,965,309

CREDITORS
Amounts falling due after more than one
year

10

(22,072,581

)

(21,174,182

)

PROVISIONS FOR LIABILITIES (1,606,707 ) (1,158,130 )
NET ASSETS 28,678,713 27,632,997

CAPITAL AND RESERVES
Called up share capital 10 10
Revaluation reserve 18,596,185 18,208,499
Other reserves 1,530,000 1,660,000
Retained earnings 8,552,518 7,764,488
SHAREHOLDERS' FUNDS 28,678,713 27,632,997

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a) ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

ADW Holdings Ltd (Registered number: 06984959)

Consolidated Balance Sheet - continued
29 February 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 10 October 2024 and were signed by:





A D Wormald - Director


ADW Holdings Ltd (Registered number: 06984959)

Company Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 - -
Investments 7 24 24
24 24

CREDITORS
Amounts falling due within one year 9 14 14
NET CURRENT LIABILITIES (14 ) (14 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10

10

CAPITAL AND RESERVES
Called up share capital 10 10
SHAREHOLDERS' FUNDS 10 10

Company's profit for the financial year - -

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 10 October 2024 and were signed by:





A D Wormald - Director


ADW Holdings Ltd (Registered number: 06984959)

Notes to the Consolidated Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

ADW Holdings Ltd 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 General 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

ADW Holdings Ltd (Registered number: 06984959)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2023 - NIL).

4. OPERATING PROFIT

The operating profit is stated after charging:

29.2.24 28.2.23
£    £   
Depreciation - owned assets 44,050 4,405

5. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


ADW Holdings Ltd (Registered number: 06984959)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

6. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 March 2023 49,100,000 22,095 4,791 148,123 49,275,009
Additions 1,728,166 13,000 - - 1,741,166
Revaluations 771,834 - - - 771,834
At 29 February 2024 51,600,000 35,095 4,791 148,123 51,788,009
DEPRECIATION
At 1 March 2023 - 4,405 4,790 97,873 107,068
Charge for year - 7,020 - 37,030 44,050
At 29 February 2024 - 11,425 4,790 134,903 151,118
NET BOOK VALUE
At 29 February 2024 51,600,000 23,670 1 13,220 51,636,891
At 28 February 2023 49,100,000 17,690 1 50,250 49,167,941

Cost or valuation at 29 February 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2024 20,202,892 - 20,202,892
Cost 31,397,108 188,009 31,585,117
51,600,000 188,009 51,788,009

If Freehold properties, had not been revalued they would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 31,397,108 29,733,371

Freehold properties were valued on an open market basis on 28 February 2023 by Director , Allsops & Walker Singleton.. .

ADW Holdings Ltd (Registered number: 06984959)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

6. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 March 2023
and 29 February 2024 67,000
DEPRECIATION
At 1 March 2023
and 29 February 2024 13,256
NET BOOK VALUE
At 29 February 2024 53,744
At 28 February 2023 53,744

7. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 24
NET BOOK VALUE
At 29 February 2024 24
At 28 February 2023 24
Company
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 24
NET BOOK VALUE
At 29 February 2024 24
At 28 February 2023 24

ADW Holdings Ltd (Registered number: 06984959)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

7. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

ADW Investments Limited
Registered office:
Nature of business: Property development and maintenance.
%
Class of shares: holding
£1 Ordinary 100.00

Bleu Properties Limited
Registered office:
Nature of business: Property development and maintenance.
%
Class of shares: holding
£1 Ordinary 100.00

ADW Limited
Registered office:
Nature of business: Property development
%
Class of shares: holding
£1 Ordinary 100.00


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
29.2.24 28.2.23
£    £   
Trade debtors 209,465 187,745

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
29.2.24 28.2.23 29.2.24 28.2.23
£    £    £    £   
Hire purchase contracts 13,938 13,938 - -
Trade creditors 36,950 52,718 - -
Taxation and social security 232,794 234,159 - -
Other creditors 95,725 85,997 14 14
379,407 386,812 14 14

ADW Holdings Ltd (Registered number: 06984959)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
29.2.24 28.2.23
£    £   
Bank loans 22,003,998 21,051,661
Hire purchase contracts 18,583 32,521
Other creditors 50,000 90,000
22,072,581 21,174,182

Amounts falling due in more than five years:

Group
29.2.24 28.2.23
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 21,973,750 21,020,000
Other loans more 5yrs non-inst 25,000 25,000
21,998,750 21,045,000
Repayable by instalments
Bank loans more 5 yr by instal 30,248 31,661

11. ULTIMATE CONTROLLING PARTY

The controlling party is A D Wormald.