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

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

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

BWPM Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor Toronto Square, Toronto Street, Leeds, England, LS1 2HJ.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

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

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.

The company 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 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 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 method 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.

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 deducting all of its 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 payments 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.

The component parts of compound instruments issued by the company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. At the date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. This amount is recorded as a liability on an amortised cost basis using the effective interest method until extinguished upon conversion or at the instrument's maturity date. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in equity net of income tax effects and is not subsequently remeasured.

Equity instruments issued by the company 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 company.

Classification and measurement of loan notes

During the year, the company issued Guaranteed A Loan Notes 2024 and Guaranteed B Loan Notes 2024, as disclosed in Note 7. The directors have considered the terms of the loan note instruments, including the repayment provisions, guarantee arrangements and interest terms, and have classified the loan notes as financial liabilities.

The loan notes have been measured at an amount equal to amortised cost, which the directors consider to be an appropriate basis of valuation in the preparation of these financial statements.

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

During the year, the company issued £3,619,413 Guaranteed A Loan Notes 2024 and £331,530 Guaranteed B Loan Notes 2024.

The Guaranteed A Loan Notes 2024 are guaranteed by Hartmann Young Limited and are otherwise unsecured. The loan notes are repayable in accordance with a redemption schedule, with final repayment due on the sixth anniversary of the loan note instrument. The loan notes do not carry interest except where amounts due remain unpaid, in which case default interest is payable at 4% per annum above the Bank of England base rate.

The Guaranteed B Loan Notes 2024 are guaranteed by Hartmann Young Limited and are otherwise unsecured. The loan notes are interest free. The noteholder is not entitled to require repayment unless an Exit, as defined in the loan note instrument, occurs. The company may voluntarily repay all or part of the B Loan Notes at any time after the expiry of six months from issue, by giving not less than one month’s written notice to the noteholders.

The total loan notes outstanding at the year end were £3,950,943.

On incorporation, the Company allotted 36,666 Ordinary shares of £0.01 each at par,

On 29 October 2024, the Company allotted a further 40,000 Ordinary A shares of £0.01 each and 23,333 Ordinary B shares of £0.01 each at par.

On the same date, the 36,666 Ordinary shares that were in issue from incorporation were redesignated as Ordinary B shares in accordance with shareholder resolutions and the Company’s articles of association.

Following these transactions and redesignations, the total number of Ordinary B shares in issue increased to 59,999.