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REGISTERED NUMBER: 06984959 (England and Wales)

Report of the Director and

Unaudited Consolidated Financial Statements for the Year Ended 28 February 2025

for

ADW Holdings Ltd

ADW Holdings Ltd (Registered number: 06984959)

Contents of the Consolidated Financial Statements

for the Year Ended 28 February 2025

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 28 February 2025

| 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 28 February 2025

The director presents his report with the financial statements of the company and the group for the year ended 28 February 2025.

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 2024 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

15 May 2025

ADW Holdings Ltd (Registered number: 06984959)

Consolidated Income Statement

for the Year Ended 28 February 2025

| 28.2.25 |  | 29.2.24

| Notes | £ | £ |

TURNOVER | 4,087,251 |  | 3,719,839 |  |

Cost of sales | 147,666 |  | 67,913 |  |

GROSS PROFIT | 3,939,585 |  | 3,651,926 |  |

Administrative expenses | 1,218,517 |  | 1,059,012 |  |

2,721,068 |  | 2,592,914 |  |

Other operating income | 10,634 |  | 9,168 |  |

OPERATING PROFIT | 4 | 2,731,702 |  | 2,602,082 |  |

Interest receivable and similar income | 3,793 |  | 5,805 |  |

2,735,495 |  | 2,607,887 |  |

Interest payable and similar expenses | 1,704,720 |  | 1,635,694 |  |

PROFIT BEFORE TAXATION | 1,030,775 |  | 972,193 |  |

Tax on profit | 179,572 |  | 181,528 |  |

PROFIT FOR THE FINANCIAL YEAR | 851,203 |  | 790,665 |  |

Profit attributable to:

Owners of the parent | 851,203 |  | 790,665 |  |

ADW Holdings Ltd (Registered number: 06984959)

Consolidated Balance Sheet

28 February 2025

| 28.2.25 | 29.2.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 6 | 51,980,359 |  | 51,636,891 |  |

Investments | 7 | 24 |  | 24 |  |

51,980,383 |  | 51,636,915 |  |

CURRENT ASSETS

Debtors | 8 | 109,237 |  | 209,465 |  |

Cash at bank and in hand | 1,123,351 |  | 891,028 |  |

1,232,588 |  | 1,100,493 |  |

CREDITORS

Amounts falling due within one year | 9 | 351,553 |  | 379,407 |  |

NET CURRENT ASSETS | 881,035 |  | 721,086 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 52,861,418 |  | 52,358,001 |  |

CREDITORS

Amounts falling due after more than one year | 10 | (22,407,129 | ) | (22,072,581 | ) |

PROVISIONS FOR LIABILITIES | (4,232,161 | ) | (1,596,714 | ) |

NET ASSETS | 26,222,128 |  | 28,688,706 |  |

CAPITAL AND RESERVES

Called up share capital | 10 |  | 10 |  |

Revaluation reserve | 15,618,397 |  | 18,606,178 |  |

Other reserves | 1,200,000 |  | 1,530,000 |  |

Retained earnings | 9,403,721 |  | 8,552,518 |  |

SHAREHOLDERS' FUNDS | 26,222,128 |  | 28,688,706 |  |

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 28 February 2025 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

28 February 2025

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 15 May 2025 and were signed by:

A D Wormald - Director

ADW Holdings Ltd (Registered number: 06984959)

Company Balance Sheet

28 February 2025

| 28.2.25 | 29.2.24 |

| 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 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 15 May 2025 and were signed by:

A D Wormald - Director

ADW Holdings Ltd (Registered number: 06984959)

Notes to the Consolidated Financial Statements

for the Year Ended 28 February 2025

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 28 February 2025

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 (2024 - 11 ) .

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 28.2.25 |  | 29.2.24

£ | £ |

| Depreciation - owned assets | 20,238 |  | 44,050 |  |

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.

6. | TANGIBLE FIXED ASSETS

| Group

| Fixtures |

| Freehold |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST OR VALUATION

| At 1 March 2024 | 51,100,000 |  | 35,095 |  | 4,791 |  | 148,123 |  | 51,288,009 |  |

| Additions | 716,040 |  | - |  | - |  | - |  | 716,040 |  |

| Transfer to ownership | 147,666 |  | - |  | - |  | - |  | 147,666 |  |

| At 28 February 2025 | 51,963,706 |  | 35,095 |  | 4,791 |  | 148,123 |  | 52,151,715 |  |

| DEPRECIATION

| At 1 March 2024 | - |  | 11,425 |  | 4,790 |  | 134,903 |  | 151,118 |  |

| Charge for year | - |  | 7,019 |  | - |  | 13,219 |  | 20,238 |  |

| At 28 February 2025 | - |  | 18,444 |  | 4,790 |  | 148,122 |  | 171,356 |  |

| NET BOOK VALUE

| At 28 February 2025 | 51,963,706 |  | 16,651 |  | 1 |  | 1 |  | 51,980,359 |  |

| At 29 February 2024 | 51,100,000 |  | 23,670 |  | 1 |  | 13,220 |  | 51,136,891 |  |

ADW Holdings Ltd (Registered number: 06984959)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 28 February 2025

6. | TANGIBLE FIXED ASSETS - continued

| Group

| Cost or valuation at 28 February 2025 is represented by:

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| Valuation in 2025 | 19,801,444 |  | - |  | 19,801,444 |  |

| Cost | 32,162,262 |  | 188,009 |  | 32,350,271 |  |

51,963,706 |  | 188,009 |  | 52,151,715 |  |

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

| 28.2.25 |  | 29.2.24

£ | £ |

| Cost | 32,162,262 |  | 31,397,108 |  |

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

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Motor

| vehicles

£ |

| COST OR VALUATION

| At 1 March 2024

| and 28 February 2025 | 67,000 |  |

| DEPRECIATION

| At 1 March 2024

| and 28 February 2025 | 13,256 |  |

| NET BOOK VALUE

| At 28 February 2025 | 53,744 |  |

| At 29 February 2024 | 53,744 |  |

ADW Holdings Ltd (Registered number: 06984959)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 28 February 2025

7. | FIXED ASSET INVESTMENTS

| Group

| Shares in

| group

| undertakings

£ |

| COST

| At 1 March 2024

| and 28 February 2025 | 24 |  |

| NET BOOK VALUE

| At 28 February 2025 | 24 |  |

| At 29 February 2024 | 24 |  |

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1 March 2024

| and 28 February 2025 | 24 |  |

| NET BOOK VALUE

| At 28 February 2025 | 24 |  |

| At 29 February 2024 | 24 |  |

| 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 |

ADW Holdings Ltd (Registered number: 06984959)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 28 February 2025

8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |

| 28.2.25 |  | 29.2.24 |

£ | £ |

| Trade debtors | 109,237 |  | 209,465 |  |

9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

| 28.2.25 |  | 29.2.24 |  | 28.2.25 |  | 29.2.24 |

£ | £ | £ | £ |

| Hire purchase contracts | 13,938 |  | 13,938 |  | - |  | - |  |

| Trade creditors | 69,333 |  | 36,950 |  | - |  | - |  |

| Taxation and social security | 242,298 |  | 232,794 |  | - |  | - |  |

| Other creditors | 25,984 |  | 95,725 |  | 14 |  | 14 |  |

351,553 |  | 379,407 |  | 14 |  | 14 |  |

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

| Group |

| 28.2.25 |  | 29.2.24 |

£ | £ |

| Bank loans | 22,352,483 |  | 22,003,998 |  |

| Hire purchase contracts | 4,646 |  | 18,583 |  |

| Other creditors | 50,000 |  | 50,000 |  |

22,407,129 |  | 22,072,581 |  |

| Amounts falling due in more than five years:

| Group |

| 28.2.25 |  | 29.2.24 |

£ | £ |

| Repayable otherwise than by instalments |

| Bank loans more 5 yrs non-inst | 22,323,750 |  | 21,973,750 |  |

| Other loans more 5yrs non-inst | 25,000 |  | 25,000 |  |

22,348,750 |  | 21,998,750 |  |

| Repayable by instalments

| Bank loans more 5 yr by instal | 28,733 |  | 30,248 |  |

11. | ULTIMATE CONTROLLING PARTY

| The controlling party is A D Wormald.