COMPANY REGISTRATION NUMBER 11112020 (ENGLAND AND WALES)
HDM WORLDWIDE LTD,
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
HDM WORLDWIDE LTD,
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Directors' responsibilities statement
6
Independent auditor's report
7 - 9
Profit and loss account
10
Group statement of comprehensive income
11
Group balance sheet
12 - 13
Company balance sheet
14 - 15
Group statement of changes in equity
16
Company statement of changes in equity
17
Group statement of cash flows
18
HDM WORLDWIDE LTD,
CONTENTS
Company statement of cash flows
19
Notes to the financial statements
20 - 44
HDM WORLDWIDE LTD,
COMPANY INFORMATION
Directors
D P S MacFarlane
D J Rogers
Company number
11112020
Registered office
Unit 3 Carmel Park
Saltmarsh Court
Hull
HU4 7DZ
Auditor
UHY Hacker Young
6 Broadfield Court
Broadfield Way
Sheffield
S8 0XF
HDM WORLDWIDE LTD,
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
- 1 -

The Directors present the Strategic Report of HDM Worldwide Ltd (the “Company”) and its subsidiary undertakings (together, the “Group”) for the year ended 31 August 2025.

HDM Worldwide Ltd acts as the strategic holding company of the Group, overseeing capital allocation, governance and long-term development across its renewable energy activities in the United Kingdom.

The year represented a period of continued operational expansion and investment in platform capability to support scalable long-term growth.

Review of the business

The Group operates an integrated renewable energy platform comprising:

• Distribution of solar and battery equipment;

• Funded commercial solar and battery deployment;

• Supporting logistics, technology and operational services.

The Group’s two principal operating subsidiaries are HDM Energies Ltd and HDM Solar (Wholesale) Ltd.

HDM Energies Ltd focuses on the deployment of funded commercial solar and battery solutions for business energy users. Systems are typically installed under structured funding arrangements, enabling customers to access renewable energy infrastructure without significant upfront capital expenditure.

HDM Solar (Wholesale) Ltd operates as a distributor of solar PV, battery storage and associated renewable energy equipment. The business supplies installer networks and supports internal deployment activities within the Group.

Supporting subsidiaries provide logistics, technology development and safety compliance services across the Group’s activities.

The Group also operates Bridlington Town Association Football Club Limited as part of its community engagement activities. In addition to its community focus, the club provides a practical environment for testing and demonstrating renewable energy systems developed within the Group.

Development of the Group

During the year, the Group continued to develop its organisational structure and operational capabilities in support of its long-term strategy. This included further integration of logistics, technology and safety functions to support repeatable and scalable deployment across both the wholesale and energy infrastructure businesses.

HDM WORLDWIDE LTD,
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -

Funding and Capital Management

During the year, the Group entered into institutional funding arrangements to support both deployment and wholesale operations.

HDM Energies Ltd secured a deployment funding facility with Paragon Bank to support funded commercial solar installations.

HDM Solar (Wholesale) Ltd maintained working capital and inventory finance facilities with DF Capital supporting expansion of its distribution activities.

The Directors adopt a disciplined approach to capital allocation, balancing investment in growth opportunities with maintenance of financial resilience.

Principal risks and uncertainties

The principal risks facing the Group include:

• Availability of funding to support growth;

• Supply chain and equipment pricing volatility;

• Energy market developments;

• Operational execution risks associated with scaling;

• Regulatory developments affecting the renewable energy sector.

The Directors regularly review operational and financial risks as part of the Group’s governance processes.

Key performance indicators

The Directors monitor performance using a combination of financial and operational key performance indicators.

Key financial metrics for the year are as follows:

Revenue: £34.8 million (2024: £20.1 million)

Gross Profit: £6.7 3 million

Loss after Tax: £0.41 million

Operating Cash Inflow: £2.35 million

Net Assets at Year End: £3.01 million

Average Number of Employees: 78 (2024: 4 4)

Revenue growth of approximately 73% reflects continued expansion of trading activity across both operating divisions.

HDM WORLDWIDE LTD,
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -

The loss after tax primarily reflects deliberate investment in personnel, systems, infrastructure and operational capability to support future growth. Despite this investment phase, the Group generated positive operating cash inflows during the year.

The Directors have reviewed financial projections, funding arrangements and the operational outlook and have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future.

Other information and explanations

Employees

The Group’s employees remain central to its continued development.

Average employee numbers increased during the year to 78, reflecting investment in operational capability across the Group’s activities.

The Directors remain committed to maintaining a safe working environment and supporting employee development.

Stakeholders and Community Engagement

The Directors recognise the importance of maintaining strong relationships with employees, customers, suppliers, funding partners and local communities.

Through its community activities, including those connected with Bridlington Town Association Football Club Limited, the Group supports youth participation and local engagement alongside its commercial activities.

Contribution to the Energy Transition

Through the deployment of distributed renewable energy solutions and the supply of associated equipment, the Group contributes to improving energy resilience for commercial energy users and supports broader UK decarbonisation objectives.

On behalf of the board

D J Rogers
Director
30 March 2026
HDM WORLDWIDE LTD,
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
- 4 -

The directors present their annual report and financial statements for the year ended 31 August 2025.

Principal activities

The principal activity of the company was that of a holding company for a group engaged in the sale of solar energy equipment alongside related activities and the operation of a football club.

Results and dividends

The results for the year are set out on page 10.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

D P S MacFarlane
D J Rogers
Post reporting date events

Since the year end, the Group has continued to expand its renewable energy deployment activities and wholesale operations with additional branches and manufacturing partnership s, and have further progressed the pipeline projects funded under institutional deployment facilities.

Bridlington Town AFC Limited, is now outside of the group under independent ownership.

Future developments

The Directors remain confident in the long-term structural drivers supporting the transition toward distributed renewable energy generation in the United Kingdom.

With established funding relationships and expanding operational capability, the Group is focused on disciplined execution of its growth strategy in the coming year.

Corporate governance

The Directors remain confident in the long-term structural drivers supporting the transition toward distributed renewable energy generation in the United Kingdom.

With established funding relationships and expanding operational capability, the Group is focused on disciplined execution of its growth strategy in the coming year.

HDM WORLDWIDE LTD,
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 5 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
D J Rogers
Director
30 March 2026
HDM WORLDWIDE LTD,
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2025
- 6 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company 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 group and parent company, and of the profit or loss of the group 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;

- state whether applicable U nited K ingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent 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 group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

HDM WORLDWIDE LTD,
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF HDM WORLDWIDE LTD,
- 7 -
Opinion

We have audited the financial statements of HDM Worldwide Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2025 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including 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 group's and the parent company's affairs as at 31 August 2025 and of the group's loss 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and 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 directors with respect to going concern are described in the relevant sections of this report.

HDM WORLDWIDE LTD,
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF HDM WORLDWIDE LTD,
- 8 -

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are 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.

Opinions on other matters prescribed by the Companies Act 2006

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

- T he information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the directors' report 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 group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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

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

- the parent company 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 directors' r esponsibilities s tatement, 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 is 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 group's and parent 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 group or parent company or to cease operations, or have no realistic alternative but to do so.

HDM WORLDWIDE LTD,
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF HDM WORLDWIDE LTD,
- 9 -
Auditor's 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 an auditor's 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 financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

- Enquiry of management and those charged with governance around actual and potential litigation and claims.

- Enquiry of staff in compliance functions to identify any instances of non-compliance with laws and regulations.

- Reviewing minutes of meetings of those charged with governance.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the parent 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 parent company’s members those matters we are required to state to them in an auditor's 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Hulse (Senior Statutory Auditor)
For and on behalf of UHY Hacker Young, Statutory Auditor
Chartered Accountants
6 Broadfield Court
Broadfield Way
Sheffield
S8 0XF
30 March 2026
HDM WORLDWIDE LTD,
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
- 10 -
2025
2024
Notes
£
£
Turnover
3
34,745,114
20,133,655
Cost of sales
(28,014,908)
(16,155,356)
Gross profit
6,730,206
3,978,299
Administrative expenses
(7,108,442)
(3,870,593)
Other operating income
185,646
4,940
Operating (loss)/profit
4
(192,590)
112,646
Interest receivable and similar income
7
82,939
63,776
Interest payable and similar expenses
8
(495,914)
(119,521)
Change in fair value of investment property
9
195,068
-
(Loss)/profit before taxation
(410,497)
56,901
Tax on (loss)/profit
10
(206,813)
(148,577)
Loss for the financial year
(617,310)
(91,676)
Loss for the financial year is attributable to:
- Owners of the parent company
(782,147)
(82,217)
- Non-controlling interests
164,837
(9,459)
(617,310)
(91,676)
HDM WORLDWIDE LTD,
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2025
- 11 -
2025
2024
£
£
Loss for the year
(617,310)
(91,676)
Other comprehensive income
-
-
Cash flow hedges gain arising in the year
-
0
-
0
Total comprehensive income for the year
(617,310)
(91,676)
Total comprehensive income for the year is attributable to:
- Owners of the parent company
(782,147)
(82,217)
- Non-controlling interests
164,837
(9,459)
(617,310)
(91,676)
HDM WORLDWIDE LTD,
GROUP BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 12 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
12
328,642
365,158
Other intangible assets
12
528,858
137,143
Total intangible assets
857,500
502,301
Tangible assets
13
2,150,080
1,396,914
Investment property
14
1,004,378
448,496
Investments
15
30,308
30,308
4,042,266
2,378,019
Current assets
Stocks
18
5,701,042
3,817,548
Debtors
19
7,869,620
4,719,833
Cash at bank and in hand
2,293,502
2,359,170
15,864,164
10,896,551
Creditors: amounts falling due within one year
20
(16,036,765)
(8,924,603)
Net current (liabilities)/assets
(172,601)
1,971,948
Total assets less current liabilities
3,869,665
4,349,967
Creditors: amounts falling due after more than one year
21
(599,088)
(593,999)
Provisions for liabilities
Deferred tax liability
24
264,661
132,742
(264,661)
(132,742)
Net assets
3,005,916
3,623,226
Capital and reserves
Called up share capital
27
127
127
Share premium account
3,313,636
3,313,636
Other reserves
100,000
100,000
Profit and loss reserves
(582,499)
199,648
Equity attributable to owners of the parent company
2,831,264
3,613,411
Non-controlling interests
174,652
9,815
Total equity
3,005,916
3,623,226
HDM WORLDWIDE LTD,
GROUP BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2025
31 August 2025
- 13 -
The financial statements were approved by the board of directors and authorised for issue on 30 March 2026 and are signed on its behalf by:
30 March 2026
D J Rogers
Director
Company registration number 11112020 (England and Wales)
HDM WORLDWIDE LTD,
COMPANY BALANCE SHEET
AS AT 31 AUGUST 2025
31 August 2025
- 14 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
12
29,348
29,348
Tangible assets
13
248,144
330,032
Investments
15
2,345,779
1,142,500
2,623,271
1,501,880
Current assets
Debtors
19
1,384,336
1,171,579
Cash at bank and in hand
142,793
1,344,158
1,527,129
2,515,737
Creditors: amounts falling due within one year
20
(223,878)
(164,654)
Net current assets
1,303,251
2,351,083
Net assets
3,926,522
3,852,963
Capital and reserves
Called up share capital
27
127
127
Share premium account
3,313,636
3,313,636
Other reserves
100,000
100,000
Profit and loss reserves
512,759
439,200
Total equity
3,926,522
3,852,963
HDM WORLDWIDE LTD,
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2025
31 August 2025
- 15 -

As permitted by section 408 of the Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £73,559 (2024 - £180,891).

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These 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 board of directors and authorised for issue on 30 March 2026 and are signed on its behalf by:
30 March 2026
D J Rogers
Director
Company registration number 11112020 (England and Wales)
HDM WORLDWIDE LTD,
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
- 16 -
Share capital
Share premium account
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
£
Balance at 1 September 2023
100
-
0
100,000
341,865
441,965
19,274
461,239
Year ended 31 August 2024:
Loss and total comprehensive income
-
-
-
(82,217)
(82,217)
(9,459)
(91,676)
Issue of share capital
27
27
3,313,636
-
-
3,313,663
-
3,313,663
Dividends
11
-
-
-
(60,000)
(60,000)
-
(60,000)
Balance at 31 August 2024
127
3,313,636
100,000
199,648
3,613,411
9,815
3,623,226
Year ended 31 August 2025:
Loss and total comprehensive income
-
-
-
(782,147)
(782,147)
164,837
(617,310)
Balance at 31 August 2025
127
3,313,636
100,000
(582,499)
2,831,264
174,652
3,005,916
HDM WORLDWIDE LTD,
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
- 17 -
Share capital
Share premium account
Other reserves
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 September 2023
100
-
0
100,000
318,309
418,409
Year ended 31 August 2024:
Profit and total comprehensive income for the year
-
-
-
180,891
180,891
Issue of share capital
27
27
3,313,636
-
-
3,313,663
Dividends
11
-
-
-
(60,000)
(60,000)
Balance at 31 August 2024
127
3,313,636
100,000
439,200
3,852,963
Year ended 31 August 2025:
Profit and total comprehensive income
-
-
-
73,559
73,559
Balance at 31 August 2025
127
3,313,636
100,000
512,759
3,926,522
HDM WORLDWIDE LTD,
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2025
- 18 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
29
2,350,037
165,145
Interest paid
(495,914)
(119,521)
Income taxes paid
(94,100)
(3,411)
Net cash inflow from operating activities
1,760,023
42,213
Investing activities
Purchase of intangible assets
(397,659)
(111,846)
Purchase of tangible fixed assets
(1,181,549)
(505,787)
Proceeds from disposal of tangible fixed assets
123,503
-
Purchase of investment property
(360,814)
(448,496)
Purchase of subsidiaries, net of cash acquired
-
(141,469)
Proceeds from disposal of associates
-
(30,308)
Other loans
(132,059)
(44,000)
Interest received
82,939
63,776
Net cash used in investing activities
(1,865,639)
(1,218,130)
Financing activities
Proceeds from issue of shares
-
3,313,663
Repayment of bank loans
54,480
(76,504)
Payment of finance leases obligations
(17,303)
(65,216)
Dividends paid to equity shareholders
-
0
(60,000)
Net cash generated from financing activities
37,177
3,111,943
Net (decrease)/increase in cash and cash equivalents
(68,439)
1,936,026
Cash and cash equivalents at beginning of year
2,353,763
417,737
Cash and cash equivalents at end of year
2,285,324
2,353,763
Relating to:
Cash at bank and in hand
2,293,502
2,359,170
Bank overdrafts included in creditors payable within one year
(8,178)
(5,407)
HDM WORLDWIDE LTD,
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2025
- 19 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
31
101,401
(634,919)
Interest paid
(2,438)
(7,474)
Income taxes paid
(76,705)
(3,411)
Net cash inflow/(outflow) from operating activities
22,258
(645,804)
Investing activities
Purchase of tangible fixed assets
(51,171)
(284,352)
Proceeds from disposal of tangible fixed assets
60,500
-
0
Payments to acquire subsidiaries
(1,203,279)
(1,142,500)
Repayment of loans
(125,520)
(76,504)
Interest received
82,939
57,566
Net cash used in investing activities
(1,236,531)
(1,445,790)
Financing activities
Proceeds from issue of shares
-
3,313,663
Payment of finance leases obligations
12,908
-
Dividends paid to equity shareholders
-
(60,000)
Net cash generated from financing activities
12,908
3,253,663
Net (decrease)/increase in cash and cash equivalents
(1,201,365)
1,162,069
Cash and cash equivalents at beginning of year
1,344,158
182,089
Cash and cash equivalents at end of year
142,793
1,344,158
HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 20 -
1
Accounting policies
Company information

HDM Worldwide Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 3 Carmel Park, Saltmarsh Court, Hull, HU4 7DZ.

The group consists of HDM Worldwide Ltd and all of its subsidiaries.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, (modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value). The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company HDM Worldwide Ltd together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 August 2025, or where necessary, are adjusted to present results to that date. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 21 -

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

The Group experienced rapid growth in the period and that has continued since the year end. The Group retains a strong balance sheet with net assets at the year-end of £3.0m, but largely due to the growth investment in the necessary infrastructure and resource, also reported an operating loss of £0.19m and a loss before tax of £0.41m.

In preparing these consolidated financial statements, the directors have prepared forecasts for the Company and the main operating businesses.

These continue to show growth which by necessity requires additional working capital. To this end, an existing agreement for HDM Energies provides funding covering the total cost of the capital expenditure on solar installations. Total cumulative capital expenditure has more than doubled in the 7 months since the year end, and this business is expected to generate profits from the second quarter of 2026.

In addition, since the year end, additional borrowing of £0.6m has been secured alongside a long-term working capital facility with a major supplier, expected to contribute further funding of c.£2m. It should also be noted that whilst the Group reported an operating loss of £0.19m, the main operating business HDM Solar (Wholesale) Ltd reported an encouraging operating profit of £0.93m at year end.

The operating loss in HDM Energies Ltd was anticipated; however, based on the contracted and projected sales pipeline, the Company anticipates the business will generate operating profits during the next financial year.

It is also noted that Bridlington Town AFC will not require the same level of support in this period as plans have been put in place to divest the club from HDM.

On the basis of the continued growth in the underlying trading businesses, the restructuring of Bridlington Town AFC and the additional funding secured since the year end, the Group remains able to meet its debts as they fall due, and the financial statements have been prepared on a going concern basis.

HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 22 -
1.5
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.7
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
20% straight line basis
Other intangibles
10% straight line basis
HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 23 -
1.8
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line basis
Leasehold land and buildings
10% straight line basis
Plant and equipment
10% reducing balance basis
Fixtures and fittings
10% reducing balance basis
Computers
20% reucing balance basis
Motor vehicles
20% reducing balance basis
Solar installations
10% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.9
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.10
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 24 -

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the g roup’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent c ompany financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.11
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 25 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.12
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.13
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.14
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod 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. Financial assets classified as receivable within one year are not amortised.

HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 26 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 27 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.15
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.16
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 28 -
1.17
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.18
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.19
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.20
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 29 -
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sale of solar energy equipment
33,715,369
20,133,655
Activities undertaken in support of the sale of solar energy equipment
751,452
-
Operation of a football club
278,293
-
34,745,114
20,133,655
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
34,745,114
20,133,655
2025
2024
£
£
Other revenue
Interest income
82,939
63,776
Grants received
(300,377)
-
HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 30 -
4
Operating (loss)/profit
2025
2024
£
£
Operating (loss)/profit for the year is stated after charging/(crediting):
Exchange losses/(gains)
7,943
(40,889)
Government grants
300,377
-
Depreciation of tangible fixed assets
300,648
163,714
Loss on disposal of tangible fixed assets
4,232
-
Amortisation of intangible assets
42,460
4,051
Operating lease charges
457,654
322,209
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
10,000
-
Audit of the financial statements of the company's subsidiaries
20,000
-
30,000
-
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Directors
21
14
9
9
Managment and finance
9
11
-
-
Opertions, sales and distribution
48
19
-
-
Total
78
44
9
9
HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
6
Employees
(Continued)
- 31 -

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
3,398,280
1,732,188
217,046
168,103
Social security costs
394,864
161,590
36,627
21,672
Pension costs
144,879
75,169
3,564
2,220
3,938,023
1,968,947
257,237
191,995
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
-
0
6,210
Other interest income
82,939
57,566
Total income
82,939
63,776
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
-
6,210
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
470,358
113,087
Other finance costs:
Interest on finance leases and hire purchase contracts
25,556
6,434
Total finance costs
495,914
119,521
HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 32 -
9
Amounts written off investments
2025
2024
£
£
Changes in the fair value of investment properties
195,068
-
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
75,614
15,835
Adjustments in respect of prior periods
(720)
-
0
Total current tax
74,894
15,835
Deferred tax
Origination and reversal of timing differences
131,919
132,742
Total tax charge
206,813
148,577

The actual charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
(Loss)/profit before taxation
(410,497)
56,901
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(102,624)
14,225
Tax effect of expenses that are not deductible in determining taxable profit
64,599
6,901
Gains not taxable
(48,767)
-
0
Unutilised tax losses carried forward
180,762
-
0
Group relief
-
0
(61,334)
Permanent capital allowances in excess of depreciation
(42)
-
0
Depreciation on assets not qualifying for tax allowances
16,900
-
0
Amortisation on assets not qualifying for tax allowances
-
0
1,013
Other movements
95,985
187,772
Taxation charge
206,813
148,577
HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 33 -
11
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Final paid
-
60,000
12
Intangible fixed assets
Group
Goodwill
Software
Other intangibles
Total
£
£
£
£
Cost
At 1 September 2024
365,158
111,846
34,298
511,302
Additions - internally developed
-
0
59,966
-
0
59,966
Additions - separately acquired
-
0
337,693
-
0
337,693
At 31 August 2025
365,158
509,505
34,298
908,961
Amortisation and impairment
At 1 September 2024
-
0
4,051
4,950
9,001
Amortisation charged for the year
36,516
5,944
-
0
42,460
At 31 August 2025
36,516
9,995
4,950
51,461
Carrying amount
At 31 August 2025
328,642
499,510
29,348
857,500
At 31 August 2024
365,158
107,795
29,348
502,301
Company
Other intangibles
£
Cost
At 1 September 2024 and 31 August 2025
34,298
Amortisation and impairment
At 1 September 2024 and 31 August 2025
4,950
Carrying amount
At 31 August 2025
29,348
At 31 August 2024
29,348
HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
12
Intangible fixed assets
(Continued)
- 34 -

Intangible fixed assets include costs associated with the development of a bespoke IT system. The new system was fully implemented after the year end and therefore no amortisation has been charged in the period. Similarly, there are development costs for a website that was not operational until after the year end and again no amortisation has been charged in the period.

HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 35 -
13
Tangible fixed assets
Group
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Solar installations
Total
£
£
£
£
£
£
£
£
Cost
At 1 September 2024
507,534
28,281
243,719
255,574
111,776
746,634
20,715
1,914,233
Additions
-
0
-
0
4,271
313,910
49,079
196,899
617,390
1,181,549
Disposals
-
0
-
0
-
0
-
0
-
0
(141,819)
(12,506)
(154,325)
At 31 August 2025
507,534
28,281
247,990
569,484
160,855
801,714
625,599
2,941,457
Depreciation and impairment
At 1 September 2024
179,316
4,281
156,574
39,155
20,905
117,088
-
0
517,319
Depreciation charged in the year
7,087
2,828
19,745
38,121
33,219
147,907
51,741
300,648
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
-
0
(24,743)
(1,847)
(26,590)
At 31 August 2025
186,403
7,109
176,319
77,276
54,124
240,252
49,894
791,377
Carrying amount
At 31 August 2025
321,131
21,172
71,671
492,208
106,731
561,462
575,705
2,150,080
At 31 August 2024
328,218
24,000
87,145
216,419
90,871
629,546
20,715
1,396,914
HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 36 -
Company
Leasehold land and buildings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2024
28,281
69,406
305,403
403,090
Additions
-
0
12,892
38,279
51,171
Disposals
-
0
-
0
(71,819)
(71,819)
At 31 August 2025
28,281
82,298
271,863
382,442
Depreciation and impairment
At 1 September 2024
4,281
13,154
55,623
73,058
Depreciation charged in the year
2,828
15,470
52,518
70,816
Eliminated in respect of disposals
-
0
-
0
(9,576)
(9,576)
At 31 August 2025
7,109
28,624
98,565
134,298
Carrying amount
At 31 August 2025
21,172
53,674
173,298
248,144
At 31 August 2024
24,000
56,252
249,780
330,032
14
Investment property
Group
Company
2025
2025
£
£
Fair value
At 1 September 2024
448,496
-
Additions through external acquisition
360,814
-
Net gains or losses through fair value adjustments
195,068
-
At 31 August 2025
1,004,378
-

The investment property comprises a property secured to be used as a group training facility which is also rented to third parties.

Following the initial purchase, further work has been carried out on the property. The fair value of the investment property has been arrived at by the directors based on a valuation dated 22 September 2025 for £1.04m from Krogsveen, a real estate agent, based on the market value of the completed property.

HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 37 -
15
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
16
-
0
-
0
2,345,779
1,142,500
Investments in associates
17
30,308
30,308
-
0
-
0
30,308
30,308
2,345,779
1,142,500
Movements in fixed asset investments
Group
Shares in associates
£
Cost or valuation
At 1 September 2024 and 31 August 2025
30,308
Carrying amount
At 31 August 2025
30,308
At 31 August 2024
30,308
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 September 2024
1,142,500
Additions
1,203,279
At 31 August 2025
2,345,779
Carrying amount
At 31 August 2025
2,345,779
At 31 August 2024
1,142,500
16
Subsidiaries

Details of the company's subsidiaries at 31 August 2025 are as follows:

HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
16
Subsidiaries
(Continued)
- 38 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
HDM Energies Ltd
Unit 3, Carmel Park, Saltmarsh Court,Hull, HU4 7DZ
Ordinary
100.00
-
HDM Cleaning and Maintenance Ltd
Unit 3, Carmel Park, Saltmarsh Court,Hull, HU4 7DZ
Ordinary
100.00
-
Bridlington Town Associaiton FC Ltd
Queensgate Ground, Bridlington, YO16 5LN
Ordinary
0
100.00
Beech Solar Ltd
Unit 3, Carmel Park, Saltmarsh Court,Hull, HU4 7DZ
Ordinary
50.00
-
DASH Logistics Ltd
41 Dinnington Way, Sheffield, S25 3AF
Ordinary
0
55.00
HDM Solar (Wholesale) Ltd
40 Dinnington Way, Sheffield, S25 3AF
Ordinary
0
55.00
DASH Investment Holdings Ltd
Unit 3, Carmel Park, Saltmarsh Court,Hull, HU4 7DZ
Ordinary
55.00
-
HDM Sports Holdings Limited
Unit 3, Carmel Park, Saltmarsh Court,Hull, HU4 7DZ
Ordinary
100.00
-

The subsidiaries are exempt from the requirements of the Companies Act relating to the audit of the individual accounts by virtue of a guarantee that has been given by HDM Worldwide Ltd.

The investments in subsidiaries are all stated at cost.

Beech Solar Limited is considered a subsidiariy by virtue of the control exercised by HDM Worldwide Limited over the financial and operating policies of those companies.

17
Associates

Details of associates at 31 August 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
DASH Tech Limited
40a Kingfisher Way, Dinnington, Sheffield, S25 3AF
Ordinary
0
28
Nordic Solergy AS
Stabburveien 1a, 1617 Fredrikstad, Norway
Ordinary
0
22
DES Renewable Energy Limited
103/105 Brighton Road, Coulsdon, Surrey, England, CR5 2NG
Ordinary
0
20
HDM Safety Ltd
Unit 3, Carmel Park, Saltmarsh Court, Hull, HU4 7DZ
Ordinary
0
28
18
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Finished goods and goods for resale
5,701,042
3,817,548
-
0
-
0
HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 39 -
19
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
5,962,289
3,518,972
-
0
-
0
Amounts owed by group undertakings
31,070
-
672,197
453,583
Other debtors
859,884
877,571
704,460
706,366
Prepayments and accrued income
1,016,377
323,290
7,679
11,630
7,869,620
4,719,833
1,384,336
1,171,579
20
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
22
11,507
5,407
-
0
-
0
Obligations under finance leases
23
93,713
97,412
12,908
-
0
Trade creditors
5,595,819
5,003,266
83,347
71,186
Amounts owed to group undertakings
31,070
-
0
-
0
-
0
Corporation tax payable
75,613
77,424
75,613
77,424
Other taxation and social security
831,089
295,834
30,247
-
Other creditors
8,145,029
3,043,242
14,300
14,015
Accruals and deferred income
1,252,925
402,018
7,463
2,029
16,036,765
8,924,603
223,878
164,654
21
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
22
51,151
-
0
-
0
-
0
Obligations under finance leases
23
219,518
233,122
-
0
-
0
Government grants
25
328,419
359,877
-
0
-
0
Other creditors
-
0
1,000
-
0
-
0
599,088
593,999
-
-
HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
21
Creditors: amounts falling due after more than one year
(Continued)
- 40 -
Amounts included above which fall due after five years are as follows:
Payable by instalments
33,941
-
-
-
22
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
54,480
-
0
-
0
-
0
Bank overdrafts
8,178
5,407
-
0
-
0
62,658
5,407
-
-
Payable within one year
11,507
5,407
-
0
-
0
Payable after one year
51,151
-
0
-
0
-
0

A new loan of £54,480 was secured in the year with £3,329 (2024: nil) falling due within one year and £51,151 (2024: nil) falling due after more than one year. The loan is repayable over 10 years and is secured on the related assets for which funding was provided.

23
Finance lease obligations
Group
Company
2025
2024
2025
2024
Amounts due:
£
£
£
£
Current liabilities
93,713
97,412
12,908
-
0
Non-current liabilities
219,518
233,122
-
0
-
0
313,231
330,534
12,908
-
HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
23
Finance lease obligations
(Continued)
- 41 -
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
117,534
115,905
12,908
-
0
In two to five years
270,497
330,595
-
0
-
0
388,031
446,500
12,908
-
Less: future finance charges
(74,800)
(115,966)
-
0
-
0
313,231
330,534
12,908
-
0
24
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
264,661
132,742
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 September 2024
132,742
-
Charge to profit or loss
131,919
-
Liability at 31 August 2025
264,661
-

T he deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 42 -
25
Government grants
Group
Company
2025
2024
2025
2024
£
£
£
£
Arising from government grants
328,419
359,877
-
-
26
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
144,879
75,169

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

27
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Daniel Rogers and others Seed @ 0.01p each of 1p each
12,716
12,716
127
127
28
Directors' transactions

As at 31 August 2025, there was a directors loan with a balance outstanding to the Group of £176,059 (2024: £44,000).

HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 43 -
29
Cash generated from group operations
2025
2024
£
£
Loss after taxation
(617,310)
(91,676)
Adjustments for:
Taxation charged
206,813
148,577
Finance costs
495,914
119,521
Investment income
(82,939)
(63,776)
Loss on disposal of tangible fixed assets
4,232
-
Fair value gain on investment properties
(195,068)
-
0
Amortisation and impairment of intangible assets
42,460
4,051
Depreciation and impairment of tangible fixed assets
300,648
163,714
Movements in working capital:
Increase in stocks
(1,883,494)
(3,077,219)
Increase in debtors
(2,913,478)
(3,805,401)
Increase in creditors
7,110,572
6,767,354
Decrease in deferred income
(31,458)
-
Cash generated from operations
2,436,892
165,145
30
Analysis of changes in net funds - group
1 September 2024
Cash flows
31 August 2025
£
£
£
Cash at bank and in hand
2,359,170
(65,668)
2,293,502
Bank overdrafts
(5,407)
(2,771)
(8,178)
2,353,763
(68,439)
2,285,324
Borrowings excluding overdrafts
-
(54,480)
(54,480)
Obligations under finance leases
(330,534)
17,303
(313,231)
2,023,229
(105,616)
1,917,613
HDM WORLDWIDE LTD,
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 44 -
31
Cash generated from/(absorbed by) operations - company
2025
2024
£
£
Profit for the year after tax
73,559
180,891
Adjustments for:
Taxation charged
74,894
15,835
Finance costs
2,438
7,474
Investment income
(82,939)
(57,566)
Loss on disposal of tangible fixed assets
1,743
-
Depreciation and impairment of tangible fixed assets
70,816
52,047
Movements in working capital:
Increase in debtors
(87,237)
(762,791)
Increase/(decrease) in creditors
48,127
(70,809)
Cash generated from/(absorbed by) operations
101,401
(634,919)
32
Analysis of changes in net funds - company
1 September 2024
Cash flows
31 August 2025
£
£
£
Cash at bank and in hand
1,344,158
(1,201,365)
142,793
Obligations under finance leases
-
(12,908)
(12,908)
1,344,158
(1,214,273)
129,885
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xbrli:pure xbrli:shares iso4217:GBP