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REGISTERED NUMBER: 15190411 (England and Wales)

| C&W HOSPITALITY PROJECTS LIMITED |

| STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 OCTOBER 2025 |

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 6 |

| Statement of Comprehensive Income | 10 |

| Balance Sheet | 11 |

| Statement of Changes in Equity | 12 |

| Cash Flow Statement | 13 |

| Notes to the Cash Flow Statement | 14 |

| Notes to the Financial Statements | 15 |

| C&W HOSPITALITY PROJECTS LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 OCTOBER 2025

| DIRECTORS: | J C Corley

| M R Woolley

| REGISTERED OFFICE: | Suite D, The Business Centre

| Faringdon Avenue

| Romford

| Essex

| RM3 8EN

| REGISTERED NUMBER: | 15190411 (England and Wales)

| AUDITORS: | Clay Ratnage Daffin & Co Limited

| Chartered Accountants and

| Statutory Auditors

| Suite D, The Business Centre

| Faringdon Avenue

| Romford

| Essex

| RM3 8EN

| BANKERS: | National Westminister Bank Plc

| 10 Southwark Street

| London

| SE1 1TJ

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

STRATEGIC REPORT

FOR THE YEAR ENDED 31 OCTOBER 2025

We present our Strategic Report with the Financial Statements of the company for the year ended 31 October 2025.

REVIEW OF BUSINESS

The principal activity of the company continues to be that of a main contractor specialising in high end interior fit-out and refurbishment projects in the hospitality and commercial office sectors. We operate predominantly in the London and M25 corridor market. The differentiators we set out to achieve as a business is our attention to detail in every facet of what we do, being extremely passionate about our client's business as well as our own, personalised Director/Owner involvement from Pre-Construction through to Practical Completion, and our Aftercare services thus ensuring our belief in a 'Client for Life' philosophy.

The ability of our business and its employees to adapt and remain flexible allowed us to have a successful year in 2025 and we are looking to deliver year on year increases in turnover and profitability in a measured and controlled environment.

Whilst we are aware the economy and market are going to continue changing over the next five years, we remain confident we have the foundations in place to adapt with the market and continue to provide a highly demanded bespoke offering. With our broad range of construction management expertise across all fit out and refurbishment sectors we can provide clients with high calibre teams for a wide range of projects. In addition, our clients will work alongside one of our business owners on each of their projects along with the rest of our teams who are truly vested in the end result and the longer-term relationship. The benefits we have seen throughout 2025 is testament to this with repeat business from clients citing consistency of team and performance.

To further strengthen the company's position, it remains an important part of the group, Wolcor Holdings. This allows the business to diversify its offering within the specific sectors of construction, fit out, hospitality, refurbishment, which all have different risk profiles. Thus, allowing the companies within the group to expand at an organic rate, as the market allows.

Review of business performance

The detailed results for the year show an operating profit of £490,121 and are as shown in the financial statements. The financial results for 2025 reflect the strong business morals and ethics that have been instilled in everything we have done as a group since 2012 together with the careful market repositioning that has taken place following the introduction of the group structure back in 2023.

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

STRATEGIC REPORT

FOR THE YEAR ENDED 31 OCTOBER 2025

PRINCIPAL RISKS AND UNCERTAINTIES

The key business risks and uncertainties that face the company are considered to relate to the market and economic environment, health, safety and environmental performance, contractual risk (including mispricing of contracts, managing changes to contracts and contract disputes, poor project delivery and poor contract selection), and counterparty liquidity risk.

Major risks facing the company like client's financial stability, supply chain failure, inflation (which although steadying still impacts the market), uncertainty / changing government policy, all require careful and close control. Recruitment of the highest quality of staff is proving challenging but is being forensically managed by the Directors.

The Board continually monitors the financial performance of the company via monthly management information and individual job costings as well as applying appropriate Health & Safety expertise. This combined with the continued reinvestment of annual profits back into the business, provides the strong base from which to grow.

FINANCIAL KEY PERFORMANCE INDICATORS

The gross profit of the company for the current period is 13.6% (2024 - 11.7%) and the current ratio is 1.4:1 (2024 - 1.2:1).

This report was approved by the board and signed

ON BEHALF OF THE BOARD:

J C Corley - Director

2 April 2026

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 OCTOBER 2025

The directors present their report with the financial statements of the company for the year ended 31 October 2025.

DIVIDENDS

The total distribution of dividends for the year ended 31 October 2025 will be £201,000 (2024 - £Nil).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 November 2024 to the date of this report.

J C Corley

M R Woolley

POLITICAL DONATIONS AND EXPENDITURE

There are no political donations made in the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies 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 company will continue in business.

The directors are 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 OCTOBER 2025

AUDITORS

Under section 487(2) of the Companies Act 2006, Clay Ratnage Daffin & Co Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

ON BEHALF OF THE BOARD:

J C Corley - Director

2 April 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

C&W HOSPITALITY PROJECTS LIMITED

Opinion

We have audited the financial statements of C&W Hospitality Projects Limited (the 'company') for the year ended 31 October 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 October 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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 company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' 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 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 directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

C&W HOSPITALITY PROJECTS LIMITED

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

C&W HOSPITALITY PROJECTS LIMITED

Auditors' responsibilities for the audit of the financial statements

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 a Report of the Auditors 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 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:

To identify risks of material misstatement due to fraud ("fraud risks") we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:

- Obtaining an understanding of the legal and regulatory frameworks applicable to the company and the sector in which they operate.

- Obtained an understanding of how the company are complying with those legal and regulatory frameworks by making enquiries to the management of the company's accounting department, and management itself.

- The susceptibility of the company's financial statements to material misstatement caused by fraud or other irregularities were assessed with the following procedures:

o Identifying and assessing the design effectiveness of controls which management have in place to

prevent and detect fraud

o Understanding how those charged with governance considered and addressed the potential for override of controls and management biases

o Identifying and testing journal entries, in particular any journal entries posted with unusual account

combinations

o Assessing the extent of compliance with the relevant laws and regulations

o Assessing the extent to which pressures existed which may have increased the risk of fraudulent revenue recognition

Potential fraud risks that had been identified throughout the planning and commencement of the audit were communicated to the audit team.

The inherent limitations of audit present an unavoidable risk that we, the auditors, may not have detected some material misstatements within the financial statements despite proper planning and performance of our duties as auditors. Equally, there remains a risk of the non-detection of fraud which could involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. The audit procedures carried out are designed to detect material misstatements within the financial statements, and as such we take no responsibility for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

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 Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

C&W HOSPITALITY PROJECTS LIMITED

Use of our 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 a Report of the Auditors 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.

Lorraine Catherine Purdy FCCA (Senior Statutory Auditor)

for and on behalf of Clay Ratnage Daffin & Co Limited

Chartered Accountants and

Statutory Auditors

Suite D, The Business Centre

Faringdon Avenue

Romford

Essex

RM3 8EN

2 April 2026

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

STATEMENT OF COMPREHENSIVE

INCOME

FOR THE YEAR ENDED 31 OCTOBER 2025

| Period

| 5.10.23

| Year Ended |  | to

| 31.10.25 |  | 31.10.24

| Notes | £ | £ |

TURNOVER | 3 | 10,372,365 |  | 8,005,494 |  |

Cost of sales | 8,959,398 |  | 7,065,459 |  |

GROSS PROFIT | 1,412,967 |  | 940,035 |  |

Administrative expenses | 922,846 |  | 298,405 |  |

OPERATING PROFIT | 5 | 490,121 |  | 641,630 |  |

Interest receivable and similar income | 24,709 |  | 7,160 |  |

514,830 |  | 648,790 |  |

Interest payable and similar expenses | 6 | 2,962 |  | 1,011 |  |

PROFIT BEFORE TAXATION | 511,868 |  | 647,779 |  |

Tax on profit | 7 | 95,209 |  | 48,266 |  |

PROFIT FOR THE FINANCIAL YEAR | 416,659 |  | 599,513 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 416,659 |  | 599,513 |  |

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

BALANCE SHEET

31 OCTOBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 816 |  | - |  |

CURRENT ASSETS

Debtors | 10 | 2,519,909 |  | 2,250,083 |  |

Cash at bank | 1,030,591 |  | 2,714,322 |  |

3,550,500 |  | 4,964,405 |  |

CREDITORS

Amounts falling due within one year | 11 | 2,594,314 |  | 4,235,229 |  |

NET CURRENT ASSETS | 956,186 |  | 729,176 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 957,002 |  | 729,176 |  |

CREDITORS

Amounts falling due after more than one year | 12 | (141,526 | ) | (129,563 | ) |

PROVISIONS FOR LIABILITIES | 13 | (204 | ) | - |  |

NET ASSETS | 815,272 |  | 599,613 |  |

CAPITAL AND RESERVES

Called up share capital | 14 | 100 |  | 100 |  |

Retained earnings | 15 | 815,172 |  | 599,513 |  |

SHAREHOLDERS' FUNDS | 815,272 |  | 599,613 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2026 and were signed on its behalf by:

J C Corley - Director

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 OCTOBER 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Changes in equity

Issue of share capital | 100 |  | - |  | 100 |  |

Total comprehensive income | - |  | 599,513 |  | 599,513 |  |

Balance at 31 October 2024 | 100 |  | 599,513 |  | 599,613 |  |

Changes in equity

Dividends on equity shares | - |  | (201,000 | ) | (201,000 | ) |

Total comprehensive income | - |  | 416,659 |  | 416,659 |  |

Balance at 31 October 2025 | 100 |  | 815,172 |  | 815,272 |  |

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 OCTOBER 2025

| Period

| 5.10.23

| Year Ended |  | to

| 31.10.25 |  | 31.10.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | (1,402,441 | ) | 2,708,073 |  |

Interest paid | (2,962 | ) | (1,011 | ) |

Tax paid | (101,024 | ) | - |  |

Net cash from operating activities | (1,506,427 | ) | 2,707,062 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (1,013 | ) | - |  |

Interest received | 24,709 |  | 7,160 |  |

Net cash from investing activities | 23,696 |  | 7,160 |  |

Cash flows from financing activities

Share issue | - |  | 100 |  |

Equity dividends paid | (201,000 | ) | - |  |

Net cash from financing activities | (201,000 | ) | 100 |  |

(Decrease)/increase in cash and cash equivalents | (1,683,731 | ) | 2,714,322 |  |

Cash and cash equivalents at beginning of year | 2 | 2,714,322 |  | - |  |

Cash and cash equivalents at end of year | 2 | 1,030,591 |  | 2,714,322 |  |

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 OCTOBER 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| Period

| 5.10.23

| Year Ended |  | to

| 31.10.25 |  | 31.10.24

£ | £ |

| Profit before taxation | 511,868 |  | 647,779 |  |

| Depreciation charges | 197 |  | - |  |

| Finance costs | 2,962 |  | 1,011 |  |

| Finance income | (24,709 | ) | (7,160 | ) |

490,318 |  | 641,630 |  |

| Increase in trade and other debtors | (269,825 | ) | (2,250,083 | ) |

| (Decrease)/increase in trade and other creditors | (1,622,934 | ) | 4,316,526 |  |

| Cash generated from operations | (1,402,441 | ) | 2,708,073 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 October 2025

| 31.10.25 |  | 1.11.24

£ | £ |

| Cash and cash equivalents | 1,030,591 |  | 2,714,322 |  |

| Period ended 31 October 2024

| 31.10.24 |  | 5.10.23

£ | £ |

| Cash and cash equivalents | 2,714,322 |  | - |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.11.24 | Cash flow | At 31.10.25

£ | £ | £ |

| Net cash |

| Cash at bank | 2,714,322 |  | (1,683,731 | ) | 1,030,591 |  |

2,714,322 |  | (1,683,731 | ) | 1,030,591 |  |

| Total | 2,714,322 |  | (1,683,731 | ) | 1,030,591 |  |

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1. | STATUTORY INFORMATION

| C&W Hospitality Projects Limited 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 Company Information page.

| The principal activity of the company was that of a main contractor specialising in interior fit-out and refurbishment projects.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| 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 management to exercise judgment in applying the Company's accounting policies.

| The following principal accounting policies have been applied:

| 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.

| Critical accounting judgements and key sources of estimation uncertainty

| Preparation of the financial statements requires management to make significant judgments and estimates. The items in the financial statements where these judgments and estimates have been made include amounts recoverable on long-term contracts valued at £203,923 (2024 - £162,081) and cost of sales accruals valued at £1,108,057 (2024 - £2,056,785).

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| 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 following criteria must also be met before revenue is recognised:

| Rendering of services

| Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

| - the amount of revenue can be measured reliably;

| - it is probable that the Company will receive the consideration due under the contract;

| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and

| - the costs incurred and the costs to complete the contract can be measured reliably.

| Full provision is made for losses on contracts in the year in which they are first foreseen.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Computer equipment | - | 33% on cost

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' 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, 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 company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

2. | ACCOUNTING POLICIES - continued

| Classification of 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 company after the deduction of all its liabilities.

| Basic financial liabilities, which include trade and other creditors, bank loans and other loans 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.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

| Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

| Pension costs and other post-retirement benefits

| Defined contribution pension plan

| The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

| The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

3. | TURNOVER

| The whole of the turnover relates to construction contract revenue. All turnover arose within the United Kingdom.

|  | Year ended 31 October 2025 |  | Period ended 31 October 2024 |  |

| £ |  | £ |  |

| United Kingdom |  | 10,372,365 |  | 8,005,494 |  |

4. | EMPLOYEES AND DIRECTORS

| Period

| 5.10.23

| Year Ended |  | to

| 31.10.25 |  | 31.10.24

£ | £ |

| Wages and salaries | 426,176 |  | 141,662 |  |

| Social security costs | 41,612 |  | 15,185 |  |

| Other pension costs | 9,404 |  | 1,707 |  |

477,192 |  | 158,554 |  |

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

4. | EMPLOYEES AND DIRECTORS - continued

| The average number of employees during the year was as follows:

| Period

| 5.10.23

| Year Ended |  | to

| 31.10.25 |  | 31.10.24

| Directors | 2 |  | 2 |  |

| Direct staff | 5 |  | 2 |  |

| Administration staff | 3 |  | 1 |  |

10 |  | 5 |  |

| Period

| 5.10.23

| Year Ended |  | to

| 31.10.25 |  | 31.10.24

£ | £ |

| Directors' remuneration | 1,190 |  | - |  |

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| Period

| 5.10.23

| Year Ended |  | to

| 31.10.25 |  | 31.10.24

£ | £ |

| Other operating leases | - |  | 687 |  |

| Depreciation - owned assets | 197 |  | - |  |

| Auditors' remuneration | 6,695 |  | 6,500 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| Period

| 5.10.23

| Year Ended |  | to

| 31.10.25 |  | 31.10.24

£ | £ |

| Interest payable | 2,962 |  | 1,011 |  |

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

7. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| Period

| 5.10.23

| Year Ended |  | to

| 31.10.25 |  | 31.10.24

£ | £ |

| Current tax:

| UK corporation tax | 45,389 |  | 48,266 |  |

| Adjustment to prior year corporation tax | 49,616 |  | - |  |

| Total current tax | 95,005 |  | 48,266 |  |

| Deferred tax | 204 |  | - |  |

| Tax on profit | 95,209 |  | 48,266 |  |

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| Period

| 5.10.23

| Year Ended |  | to

| 31.10.25 |  | 31.10.24

£ | £ |

| Profit before tax | 511,868 |  | 647,779 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 127,967 |  | 161,945 |  |

| Effects of:

| Expenses not deductible for tax purposes | 8,028 |  | 1,836 |  |

| Capital allowances in excess of depreciation | (204 | ) | - |  |

| Adjustments to tax charge in respect of previous periods | 49,616 |  | - |  |

| Group relief | (90,169 | ) | (115,942 | ) |

| Increase in pension fund creditor leading to an increase in tax | - |  | 427 |  |

| Decrease in pension fund creditor leading to an increase in tax | (233 | ) | - |  |

| Deferred tax | 204 |  | - |  |

| Total tax charge | 95,209 |  | 48,266 |  |

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

8. | DIVIDENDS ON EQUITY SHARES

| Period

| 5.10.23

| Year Ended |  | to

| 31.10.25 |  | 31.10.24

£ | £ |

| Final | 201,000 |  | - |  |

9. | TANGIBLE FIXED ASSETS

| Computer

| equipment

£ |

| COST

| Additions | 1,013 |  |

| At 31 October 2025 | 1,013 |  |

| DEPRECIATION

| Charge for year | 197 |  |

| At 31 October 2025 | 197 |  |

| NET BOOK VALUE

| At 31 October 2025 | 816 |  |

10. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 2,225,862 |  | 1,825,157 |  |

| Amounts recoverable on contract | 203,923 |  | 162,081 |  |

| Other debtors | - |  | 1,304 |  |

| Prepayments | 3,400 |  | 4,690 |  |

2,433,185 |  | 1,993,232 |  |

| Amounts falling due after more than one year:

| Trade debtors | 86,724 |  | 256,851 |  |

| Aggregate amounts | 2,519,909 |  | 2,250,083 |  |

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

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

2025 | 2024 |

£ | £ |

| Trade creditors | 412,974 |  | 879,216 |  |

| Amounts owed to group undertakings | 367,229 |  | 252,174 |  |

| Tax | 42,247 |  | 48,266 |  |

| Social security and other taxes | 38,672 |  | 25,740 |  |

| VAT | 614,653 |  | 958,526 |  |

| Other creditors | 697 |  | 4,552 |  |

| Accrued expenses | 1,117,842 |  | 2,066,755 |  |

2,594,314 |  | 4,235,229 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 141,526 |  | 129,563 |  |

13. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 204 |  | - |  |

| Deferred |

| tax |

£ |

| Provided during year | 204 |  |

| Balance at 31 October 2025 | 204 |  |

| Deferred taxation balance is relating to accelerated capital allowances, which are expected to reverse £120 in the next period.

14. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

C&W HOSPITALITY PROJECTS LIMITED (REGISTERED NUMBER: 15190411) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

15. | RESERVES

| Retained

| earnings

£ |

| At 1 November 2024 | 599,513 |  |

| Profit for the year | 416,659 |  |

| Dividends on equity shares | (201,000 | ) |

| At 31 October 2025 | 815,172 |  |

16. | ULTIMATE PARENT COMPANY

| Wolcor Holdings Limited is regarded by the directors as being the company's ultimate parent company.

| The address of the registered office is Suite D, The Business Centre, Faringdon Avenue, Romford, England, RM3 8EN.

17. | RELATED PARTY DISCLOSURES

| 2025 2024

| £ £

| Purchases from related parties 135,639 35,825

| The company has taken advantage of the exemption in FRS102 section 33.1A not to disclose transactions with members of the group.

18. | ULTIMATE CONTROLLING PARTY

| The controlling party is J Corley & M Woolley.

19. | PENSION COMMITMENTS

| The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £9,404 (2024 - £1,707). Contributions totalling £2,001 (2024 - £4,552) were payable to the fund at the reporting date.