ADW Holdings Ltd - Limited company accounts 25.1

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

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

DIRECTOR:

A D Wormald

REGISTERED OFFICE:

Suite 1

Butterhaw Works

Buttershaw Lane

Bradford

West Yorkshire

BD6 2DD

REGISTERED NUMBER:

06984959 (England and Wales)

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

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

FIXED ASSETS

Tangible assets

6

51,980,359

51,636,891

Investments

7

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

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.

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

FIXED ASSETS

Tangible assets

6

-

Investments

7

24

CREDITORS

Amounts falling due within one year

9

14

NET CURRENT LIABILITIES

(14

)

(14

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

10

CAPITAL AND RESERVES

Called up share capital

10

SHAREHOLDERS' FUNDS

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

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.

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

51,980,359

At 29 February 2024

51,100,000

23,670

1

13,220

51,136,891

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

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

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

-

Trade creditors

69,333

36,950

-

Taxation and social security

242,298

232,794

-

Other creditors

25,984

95,725

14

351,553

379,407

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

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

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.