Altwood Group LTD - Limited company accounts 25.1

REGISTERED NUMBER: 13211699 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

FOR

ALTWOOD GROUP LTD

Page

Company Information

1

Report of the Directors

2

Consolidated Income Statement

3

Consolidated Balance Sheet

4

Company Balance Sheet

6

Notes to the Consolidated Financial Statements

7

DIRECTORS:

Dr S S Dhesi

K S Dhesi

Mrs A K Dhesi

G S Dhesi

REGISTERED OFFICE:

483 Green Lanes

London

N13 4BS

REGISTERED NUMBER:

13211699 (England and Wales)

ACCOUNTANTS:

Braham Noble Denholm & Co.

Rubicon House

Unit 5

Second Way

Wembley

Middlesex

HA9 0YJ

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of property letting and bed and breakfast accommodation.

DIRECTORS

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

Dr S S Dhesi

K S Dhesi

Mrs A K Dhesi

G S Dhesi

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

G S Dhesi - Director

20 April 2026

TURNOVER

10,189,931

11,540,174

Cost of sales

9,044,114

9,016,359

GROSS PROFIT

1,145,817

2,523,815

Administrative expenses

1,826,450

1,990,607

OPERATING (LOSS)/PROFIT

4

(680,633

)

533,208

Interest payable and similar expenses

39,267

17,744

(LOSS)/PROFIT BEFORE TAXATION

(719,900

)

515,464

Tax on (loss)/profit

5

-

3,200

(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(719,900

)

512,264

(Loss)/profit attributable to:

Owners of the parent

(719,900

)

512,264

FIXED ASSETS

Tangible assets

7

3,552,773

3,619,293

Investments

8

300

3,553,073

3,619,593

CURRENT ASSETS

Stocks

9

75,686

70,810

Debtors

10

2,479,851

1,958,266

Cash at bank and in hand

9,636

9,836

2,565,173

2,038,912

CREDITORS

Amounts falling due within one year

11

3,092,138

1,753,132

NET CURRENT (LIABILITIES)/ASSETS

(526,965

)

285,780

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,026,108

3,905,373

CREDITORS

Amounts falling due after more than one
year

12

2,099,272

2,258,637

NET ASSETS

926,836

1,646,736

CAPITAL AND RESERVES

Called up share capital

13

300

Retained earnings

14

926,536

1,646,436

SHAREHOLDERS' FUNDS

926,836

1,646,736

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 20 April 2026 and were signed on its behalf by:

G S Dhesi - Director

Mrs A K Dhesi - Director

Dr S S Dhesi - Director

K S Dhesi - Director

FIXED ASSETS

Tangible assets

7

-

Investments

8

300

TOTAL ASSETS LESS CURRENT
LIABILITIES

300

CAPITAL AND RESERVES

Called up share capital

13

300

SHAREHOLDERS' FUNDS

300

Company's profit for the financial year

-

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 20 April 2026 and were signed on its behalf by:

G S Dhesi - Director

Mrs A K Dhesi - Director

Dr S S Dhesi - Director

K S Dhesi - Director

1.	STATUTORY INFORMATION

Altwood Group LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation

The Consolidation financial statements present the results of the Company and its own subsidiaries ("the Group") as if they from a single entity. Intercompany transactions and balances between group companies and therefore eliminated in full.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amount reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The directors do not consider there to be any judgements or estimation uncertainty which materially impact these financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The Group only enters into basic financial instruments transactions that result in recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

The average number of employees by undertakings that were proportionately consolidated during the year was 30 (2024 - 31 ) .

4.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging:

2025

2024

£

Depreciation - owned assets

44,654

59,176

5.

TAXATION

Analysis of the tax charge

The tax charge on the loss for the year was as follows:

2025

2024

£

Current tax:

UK corporation tax

-

3,200

Tax on (loss)/profit

-

3,200

6.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

7.	TANGIBLE FIXED ASSETS

Group

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

COST

At 1 July 2024

3,740,220

354,355

95,177

Disposals

-

(50,000

)

-

At 30 June 2025

3,740,220

304,355

95,177

DEPRECIATION

At 1 July 2024

256,304

264,934

49,221

Charge for year

18,000

15,050

11,604

Eliminated on disposal

-

(28,134

)

-

At 30 June 2025

274,304

251,850

60,825

NET BOOK VALUE

At 30 June 2025

3,465,916

52,505

34,352

At 30 June 2024

3,483,916

89,421

45,956

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 July 2024

64,647

9,369

4,263,768

Disposals

-

(50,000

)

At 30 June 2025

64,647

9,369

4,213,768

DEPRECIATION

At 1 July 2024

64,647

9,369

644,475

Charge for year

-

44,654

Eliminated on disposal

-

(28,134

)

At 30 June 2025

64,647

9,369

660,995

NET BOOK VALUE

At 30 June 2025

-

3,552,773

At 30 June 2024

-

3,619,293

8.	FIXED ASSET INVESTMENTS

Group

Unlisted

investments

£

COST

At 1 July 2024

and 30 June 2025

300

NET BOOK VALUE

At 30 June 2025

300

At 30 June 2024

300

Company

Other

investments

£

COST

At 1 July 2024

and 30 June 2025

300

NET BOOK VALUE

At 30 June 2025

300

At 30 June 2024

300

9.

STOCKS

Group

2025

2024

£

Stocks

75,686

70,810

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

2025

2024

£

Trade debtors

2,290,665

1,770,276

Other debtors

120,045

133,045

Prepayments

69,141

54,945

2,479,851

1,958,266

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

2025

2024

£

Bank loans and overdrafts

92,152

100,083

Trade creditors

1,299,903

466,608

Tax

-

16,660

Social security and other taxes

16,434

30,002

VAT

103,652

91,874

Other creditors

1,026,491

1,021,862

Directors' current accounts

501,655

5,417

Accrued expenses

51,851

20,626

3,092,138

1,753,132

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group

2025

2024

£

Other loans - 2-5 years

36,091

94,971

Financing

710,029

785,408

Mortgage

1,344,855

Hire Purchase

8,297

33,403

2,099,272

2,258,637

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

300

Ordinary

£1

300

14.

RESERVES

Group

Retained

earnings

£

At 1 July 2024

1,646,436

Deficit for the year

(719,900

)

At 30 June 2025

926,536

15.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

16.	ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate parent company is Altwood Group Limited. The directors consider to be no ultimate controlling party.