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Registration number: 15575400

Ndlovu Enterprises Limited
Unaudited Filleted Abridged Financial Statements
for the Period from 19 March 2024 to 31 March 2025

Ndlovu Enterprises Limited

Contents

Company Information | 1
Abridged Balance Sheet | 2 to 3
Notes to the Unaudited Abridged Financial Statements | 4 to 9

Ndlovu Enterprises Limited

Company Information

Director | Mr John Rees Walton

Registered office | C/O CSH Consulting The Barn, 8 Oakley Hay Lodge Great Folds Road Corby Northants NN18 9AS

Accountants | CSH Consulting Chartered Certified AccountantThe Barn, 8 Oakley Hay Lodge Great Folds Road Corby Northants NN18 9AS

Ndlovu Enterprises Limited

(Registration number: 15575400)
Abridged Balance Sheet as at 31 March 2025

| Note | 2025 £
Fixed assets |  |
Tangible assets | 4 | 822,354
Investments | 5 | 6,163
|  | 828,517
Current assets |  |
Debtors |  | 317,525
Cash at bank and in hand |  | 236,918
|  | 554,443
Creditors: Amounts falling due within one year |  | (44,320)
Net current assets |  | 510,123
Total assets less current liabilities |  | 1,338,640
Creditors: Amounts falling due after more than one year |  | (472,103)
Accruals and deferred income |  | (2,605)
Net assets |  | 863,932
Capital and reserves |  |
Called up share capital | 6 | 6,164
Retained earnings |  | 857,768
Shareholders' funds |  | 863,932

For the financial period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 October 2025

Ndlovu Enterprises Limited

(Registration number: 15575400)
Abridged Balance Sheet as at 31 March 2025

......................................... Mr John Rees Walton Director

Ndlovu Enterprises Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 19 March 2024 to 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
C/O CSH Consulting
The Barn, 8 Oakley Hay Lodge
Great Folds Road
Corby
Northants
NN18 9AS
United Kingdom

These financial statements were authorised for issue by the director on 18 October 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Ndlovu Enterprises Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 19 March 2024 to 31 March 2025

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Ndlovu Enterprises Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 19 March 2024 to 31 March 2025

3 | Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Total £
Cost or valuation
Additions | 811,898 | 13,885 | 825,783
At 31 March 2025 | 811,898 | 13,885 | 825,783
Depreciation
Charge for the period | - | 3,429 | 3,429
At 31 March 2025 | - | 3,429 | 3,429
Carrying amount
At 31 March 2025 | 811,898 | 10,456 | 822,354

Included within the net book value of land and buildings above is £811,898 in respect of freehold land and buildings.

5 | Investments

| Total £
Cost or valuation
Additions | 6,163
Provision
Carrying amount
At 31 March 2025 | 6,163

Ndlovu Enterprises Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 19 March 2024 to 31 March 2025

| 2025 £

Aggregate financial information of associates

| 2025 £

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025
Subsidiary undertakings
JRW Automotive Services Limited | C/O CSH Consulting The Barn 8 Oakley Hay Lodge Great Folds Road Corby Northants NN18 9AS United Kingdom | Ordinary £1 shares | 100%
Sulby Hall Farm Limited | C/O CSH Consulting The Barn 8 Oakley Hay Lodge Great Folds Road Corby Northants NN18 9AS United Kingdom | Ordinary £1 shares | 100%
Foxglade Showjumping Limited | C/O CSH Consulting The Barn 8 Oakley Hay Lodge Great Folds Road Corby Northants NN18 9AS United Kingdom | Ordinary £1 shares | 50.41%

Ndlovu Enterprises Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 19 March 2024 to 31 March 2025

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
Associates
Airfield Farms Holdings Limited | Bruntingthorpe Airfield Proving Ground Bruntingthorpe Nr Lutterworth Leicestershire LE17 5QS | Ordinary £1 shares | 25.01%
| United Kingdom |  |
Walton Family Holdings Limited | Bruntingthorpe Airfield Proving Ground Bruntingthorpe Nr Lutterworth Leicestershire LE17 5QS | Ordinary £1 shares | 25.01%
| United Kingdom |  |

Subsidiary undertakings
JRW Automotive Services Limited The principal activity of JRW Automotive Services Limited is buying, restoring, racing & selling of classic sports & racing cars. Its financial period end is 31 May.
Sulby Hall Farm Limited The principal activity of Sulby Hall Farm Limited is raising of other cattle and horses and racehorse activites. Its financial period end is 31 December.
Foxglade Showjumping Limited The principal activity of Foxglade Showjumping Limited is horse show jumping activities. Its financial period end is 31 December.

Associates
Airfield Farms Holdings Limited The principal activity of Airfield Farms Holdings Limited is a holding company.. Its financial period end is 30 June.
Walton Family Holdings Limited The principal activity of Walton Family Holdings Limited is a holding company.. Its financial period end is 30 June.

Ndlovu Enterprises Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 19 March 2024 to 31 March 2025

6 | Share capital

Allotted, called up and fully paid shares

| 2025
| No. | £
Ordinary shares of £1 each | 6,163 | 6,163

7 | Related party transactions

Summary of transactions with subsidiaries

JRW Automotive Services Limited - A company in which Mr J R Walton is the only director.
Sulby Hall Farm Limited - A company in which Mr J R Walton is the only director.
The company made loans to the company that were not repaid by the year end.
The loans are interest free and repayable upon demans.

Summary of transactions with associates

Airfield Farms Holdings Limited - A company in which Mr J R Walton is a director.
Walton Family Holdings Limited - A company in which Mr J R Walton is a director.
The company received dividends from the associates during the period.

Summary of transactions with associates

Airfield Farms Holdings Lmited No dividends paid to the company during the period.
Walton Family Holdings Limited Dividends paid to the company.

Loans to related parties

2025 | Subsidiary £ | Total £
Advanced | 209,594 | 209,594
At end of period | 209,594 | 209,594