FOR THE YEAR ENDED 31 MARCH 2025
W.D.M. LIMITED
COMPANY INFORMATION
W.D.M. LIMITED
CONTENTS
W.D.M. LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Group manufactures road testing equipment as well as undertaking road testing and general engineering activities.
A variety of key performance indicators are employed by the director to monitor the performance of the business, the most significant are turnover, profit and profit before tax.
The director is satisfied with the group’s performance during the year.
There were no machines sales during the year, but a European interest is likely to generate an Italian sale in 2026/27. A new SCRIM (SM5) was completed and shipped to the USA to assist the completion of the US program for 2024/25. A new SCRIM machine was built during the year to supplement the UK fleet, that vehicle was all but complete at the financial year, in readiness for the 2025/26 season.
Income from road surveying operations remains strong and consistent despite facing some challenges. Costs continue to rise in a sector that is dependent on public funds that are being squeezed. The group is investing in ‘added value’ technologies that will improve the service and quality of the data provided. It is hoped this will maintain our market share whilst improving revenue streams from existing clients as well as new customers.
Income from software services and management systems continues to grow each year. Existing long-term contracts provide some future certainty regarding income but increasingly the group is providing software services and support in areas that are outside of its core business. The group see this as an opportunity to expand its current portfolio of services.
The final year of the old NZTA contract in New Zealand was completed along with some additional local authority work. WDM successfully won the new NZTA contract which guarantees a presence in New Zealand to at least 2031, with possibility of an extension for up to two years. Work on this new contract will commence in 2025/26. There has been a downturn in local authority work due to changes in the data required. We remain optimistic that the local authorities will revert to the more reliable SCRIM data.
Investment continues in the USA with an expansion of employment numbers especially data analysts. Significant surveys have been completed in Kentucky and North Carolina which generated most of the income in the financial year. There is continued focus on direct outreach to other state DOTs together with an active interest in the Canadian market. Existing relationships with influential partners have been maintained to pursue direct Federal advocacy of continuous friction testing throughout the USA. The US market is considerably different from the UK and the availability of funding has given an opportunity to consider other revenue streams.
The group continues to be robust and resilient despite the challenges faced. Technological advances will gradually change the market, but WDM is well placed to adapt to these changes. As the group enters the third generate of family ownership, the current board seek to put WDM on a strong footing by investing in new premises and developing a workforce equipped to deal with the demands of a fast moving and changing environment.
The director is satisfied with the group’s performance during the year.
There were no machines sales during the year, but a European interest is likely to generate an Italian sale in 2026/27. A new SCRIM (SM5) was completed and shipped to the USA to assist the completion of the US program for 2024/25. A new SCRIM machine was built during the year to supplement the UK fleet, that vehicle was all but complete at the financial year, in readiness for the 2025/26 season.
Income from road surveying operations remains strong and consistent despite facing some challenges. Costs continue to rise in a sector that is dependent on public funds that are being squeezed. The group is investing in ‘added value’ technologies that will improve the service and quality of the data provided. It is hoped this will maintain our market share whilst improving revenue streams from existing clients as well as new customers.
Income from software services and management systems continues to grow each year. Existing long-term contracts provide some future certainty regarding income but increasingly the group is providing software services and support in areas that are outside of its core business. The group see this as an opportunity to expand its current portfolio of services.
The final year of the old NZTA contract in New Zealand was completed along with some additional local authority work. WDM successfully won the new NZTA contract which guarantees a presence in New Zealand to at least 2031, with possibility of an extension for up to two years. Work on this new contract will commence in 2025/26. There has been a downturn in local authority work due to changes in the data required. We remain optimistic that the local authorities will revert to the more reliable SCRIM data.
Investment continues in the USA with an expansion of employment numbers especially data analysts. Significant surveys have been completed in Kentucky and North Carolina which generated most of the income in the financial year. There is continued focus on direct outreach to other state DOTs together with an active interest in the Canadian market. Existing relationships with influential partners have been maintained to pursue direct Federal advocacy of continuous friction testing throughout the USA. The US market is considerably different from the UK and the availability of funding has given an opportunity to consider other revenue streams.
The group continues to be robust and resilient despite the challenges faced. Technological advances will gradually change the market, but WDM is well placed to adapt to these changes. As the group enters the third generate of family ownership, the current board seek to put WDM on a strong footing by investing in new premises and developing a workforce equipped to deal with the demands of a fast moving and changing environment.
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W.D.M. LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The management of the business and the nature of the Group's strategy are subject to a number of risks.
The directors are of the opinion that a thorough risk management process is adopted which involved the formal review of all risks identified below. Where possible, processes are in place to monitor and mitigate such risks.
The directors have set out below the principal risks facing the business.
HIGH PROPORTION OF FIXED OVERHEADS AND VARIABLE REVENUES
A large proportion of the group's overheads are fixed. There is the risk that significant changes in revenue may lead to the inability to cover such costs. Management closely monitor fixed overheads against budget on a monthly basis and cost saving exercises are implemented when there is an anticipated decline in revenues.
PRODUCT OBSOLESCENCE
Due to the nature of the market in which the group operates, products are subject to technological advances and as a result obsolescence. The directors are committed to the research and development strategy in place, and are confident that the Group is able to react effectively to the developments within the market.
The directors are of the opinion that a thorough risk management process is adopted which involved the formal review of all risks identified below. Where possible, processes are in place to monitor and mitigate such risks.
The directors have set out below the principal risks facing the business.
HIGH PROPORTION OF FIXED OVERHEADS AND VARIABLE REVENUES
A large proportion of the group's overheads are fixed. There is the risk that significant changes in revenue may lead to the inability to cover such costs. Management closely monitor fixed overheads against budget on a monthly basis and cost saving exercises are implemented when there is an anticipated decline in revenues.
PRODUCT OBSOLESCENCE
Due to the nature of the market in which the group operates, products are subject to technological advances and as a result obsolescence. The directors are committed to the research and development strategy in place, and are confident that the Group is able to react effectively to the developments within the market.
Approximately 23% (2024: 28%) of our turnover relates to overseas operations. As a group we are therefore exposed to foreign currency fluctuations.
This report was approved by the board on 23 October 2025 and signed on its behalf.
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W.D.M. LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The director presents his report and the financial statements for the year ended 31 March 2025.
The profit for the year, after taxation, amounted to £671 thousand (2024: £1,025 thousand).
No dividends have been proposed or paid in the year (2024: £Nil).
The director who served during the year was:
The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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W.D.M. LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
The director is responsible for preparing the Group strategic report, the Director's report and the consolidated financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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W.D.M. LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF W.D.M. LIMITED
We have audited the financial statements of W.D.M. Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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W.D.M. LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF W.D.M. LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Director's report.
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W.D.M. LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF W.D.M. LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙We have considered the nature of the industry and sector, control environment and business performance.
∙We have considered the results of our enquiries of management about their own identification an assessment of the risk of irregularities.
∙For any matters identified we have obtained and reviewed the Group’s documentation of their policies and procedures relating to:
∙Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
∙Detecting and responding to the risk of fraud and whether they have knowledge of actual, suspected, or alleged fraud; and,
∙The internal controls established to mitigate the risks of fraud or non-compliance with laws and regulations.
∙We have considered the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud.
As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud to be in revenue recognition cut off. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the Group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, FRS 102 and tax legislation. Our procedures to respond to risks identified included the following:
∙Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙Enquiring of management in relation to actual and potential litigation or claims;
∙Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement or fraud;
∙Performing detailed transactional testing in relation to the recognition of revenue with a particular focus around the year-end cut off ; and
∙In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
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W.D.M. LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF W.D.M. LIMITED (CONTINUED)
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
10 Temple Back
BS1 6FL
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W.D.M. LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
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W.D.M. LIMITED
REGISTERED NUMBER:00403583
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 37 form part of these financial statements.
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W.D.M. LIMITED
REGISTERED NUMBER:00403583
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
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W.D.M. LIMITED
REGISTERED NUMBER:00403583
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 37 form part of these financial statements.
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W.D.M. LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
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W.D.M. LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
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W.D.M. LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
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W.D.M. LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
W.D.M. Limited is a private company limited by shares and registered in England and Wales. Its registered head office is located at North View, Soundwell Road, Staple Hill, Bristol, BS16 4NX. The Company registration number is 00403583.
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 April 2014.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 April 2014.
The directors have reviewed the future forecasts of the group. As a result, the directors believe that the group have adequate resources to continue operations from twelve months from the date of signing the financial statements. On this basis, the directors have concluded it is appropriate that the financial statements have been prepared on a going concern basis.
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
Functional and presentation currency
Transactions and balances
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
DEFINED BENEFIT PENSION PLAN
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
The items in the financial statements where these judgements and estimates have been made include:
Defined benefit pension scheme - The present value of the scheme liability is determined using certain estimates disclosed in note 25.
Depreciation - The Group estimates useful lives and residual values for tangible fixed assets. The assets are depreciated down to their residual values over their estimated useful lives.
Deferred income - Management estimates the share of work completed and defers income proportionately at year end.
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of turnover by country of destination:
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 25
W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
13.TAXATION (CONTINUED)
There were no factors that may affect future tax charges.
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
At 31 March 2025 the group had bank guarantees totalling £441,383 (2024: £263,829) in relation to NZ Carnet and performance guarantee.
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Revaluation reserve
Foreign exchange reserve
Profit and loss account
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Defined contribution pension scheme
The Company operate a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge representing contributions payable by the Company to the fund amounted to £70,000 (2024: £66,000). At 31 March 2025 £Nil (2024: £Nil) was outstanding.
Defined benefit pension scheme
The Group operates a Defined benefit pension scheme.
The assets of the scheme are administered by trustees in a fund independent from those of the Company.
Costs and liabilities of the scheme are based on actuarial valuations. An actuarial valuation is carried out each year by a qualified independent actuary.
The scheme is closed to new entrants and the annual cost may be expected to increase in the future.
Costs and liabilities of the scheme are based on actuarial valuations. An actuarial valuation is carried out each year by a qualified independent actuary.
The scheme is closed to new entrants and the annual cost may be expected to increase in the future.
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
25.PENSION COMMITMENTS (CONTINUED)
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W.D.M. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
25.PENSION COMMITMENTS (CONTINUED)
During the year, C J Gardiner was the Company's controlling party by the virtue of his majority shareholding.
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