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Registered number: 14876153
EDA (CW) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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EDA (CW) LIMITED
REGISTERED NUMBER: 14876153
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 September 2025.
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EDA (CW) LIMITED
REGISTERED NUMBER: 14876153
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The notes on pages 3 to 8 form part of these financial statements.
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EDA (CW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
EDA (CW) Limited is a private limited company incorporated in England with the company number 14876153. The financial statements are for the year ended 31 December 2024. The comparative figures are for the period from 17 May 2023 to 31 December 2023 and are therefore not directly comparable.
The Company's registered office is 9th Floor, 80 Mosley Street, Manchester, United Kingdom, M2 3FX.
2.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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
These financial statements have been prepared on a going concern basis. The Company is dependent upon the continued financial support of the shareholder to continue operating and to meet its liabilities as they fall due. The shareholder agrees to continue to provide financial support to the Company and not to call on the shareholder loan until such a time as the Company is in a position to repay the loan. Accordingly the directors have prepared the accounts under the going concern concept.
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The Company has two revenue streams; rental income from commercial letting and from residential letting.
Rental income arising from commercial lease on investment property is accounted for on a straight-line basis over the lease term and is included in revenue in the Statement of Comprehensive Income due to its operating nature, except for contingent rental income which is recognised when it arises.
Rental income from residential letting is accounted for on a straight-line basis over the lease term. Lease incentives granted are recognised as an integral part of the total rental income, over the term of the lease.
Other income is recognised on an accrual basis in accordance with the terms of the lease agreements. These charges are recognized when the services are rendered and the right to receive payment is established.
Provision for bad debts is made based on a review of all outstanding amounts at the year-end. Specific provisions are made where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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EDA (CW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Borrowing costs incurred on qualifying assets are capitalised into the cost of the asset in the year in which they are incurred.
All other borrowing costs are recognised in profit or loss in the year in which they are incurred.
Property, including land held under development, acquired or being constructed for sale in the ordinary course of business, rather than to be held for rental or capital appreciation, is held as stock and is measured at the lower of cost and net realisable value.
Cost comprises of the invoiced value of the development works to date, planning application fees and other planning related costs. The land acquisition was recognised at the date of legal completion deemed to be the unconditional date of exchange.
Net realisable value is the estimated selling price in the ordinary course of the business, based on market prices at the reporting date and discounted for the time value of money if material, less estimated costs of completion and the estimated costs necessary to make the sale.
At each reporting date, an assessment is made for impairment and any excess of the carrying amount of stocks over its net realisable value is recognised as an impairment loss in the profit and loss account.
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
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EDA (CW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Financial Instruments (continued)
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Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured a the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payments is due within one year of less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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No significant judgements have had to be made by the directors in preparing these financial statements.
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The average monthly number of employees, including directors, during the year was 10 (period ended 31 December 2023 restated: 3).
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Debtors: amounts falling due within one year
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EDA (CW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
6.Debtors: amounts falling due within one year (continued)
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Bank loans comprise of a Fortwell senior loan facility of £47,478,597 (2023: £43,602,455) drawn in September 2021 by the Company's immediate parent, Anchorage Gateway (CW) Limited. On 13 October 2023, this loan was novated to the Company. The facility has a minimum term of 33 months which terminates on 15 May 2025 and incurs interest at a fixed rate of 6.40%.
Bank loans during the year also include a loan of £7,669,756 (2023: £Nil) from Falco Capital Limited. This loan has a minimum term of 36 months, which terminates in March 2025 and incurs interest at a fixed rate of 17% (note 10).
Please refer to note 11 for breakdown of amounts owed to group undertakings.
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Creditors: amounts falling due after more than one year
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Bank loans comprise of a Falco Capital Limited senior loan facility £Nil (2023: £6,465,229). This loan has a maximum facility of £7.13m, a minimum term of 36 months which terminates in March 2025 and incurs interest at a fixed rate of 17%.
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EDA (CW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Allotted, called up and fully paid
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1 (2023:1) Ordinary share of £1.00
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Related party transactions
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Amounts owed to group undertakings comprise of £11,931,008 (2023: £12,557,942) owed to Anchorage Gateway (CW) Limited which, as at the reporting date, is the Company's immediate parent. The amount is interest free, unsecured and repayable on demand.
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Post balance sheet events
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A new loan was taken out on 15th May 2025 with Cynergy bank for £57.4m repayable in 5 years from the date of agreement.
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EDA (CW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
As at the year end date, EDA (CW) Limited is a wholly owned subsidiary of Anchorage Gateway (CW) Limited, which is incorporated in the United Kingdom.
Anchorage Gateway (CW) Limited is ultimately owned by Anchorage Gateway (Finco) Limited, which is incorporated in the United Kingdom, and Taurus Club Deal 222 Anchorage Gateway Jersey Limited, which is registered in Jersey. The ultimate controlling party is considered to be Taurus Club Deal 222 Anchorage Gateway Jersey Limited due to its majority shareholding.
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