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COMPANY INFORMATION
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CONTENTS
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GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2026
The directors present their Annual Report and financial statements for the year ended 30 April 2026.
This report has been prepared by the directors in accordance with the requirements of section 414 of the Companies Act 2006. The Company’s independent auditor is required by law to report on whether the information given in the strategic report is consistent with the financial statements. The auditor’s report is set out further in the document.
The Broadway Malyan Group is a leading global design practice focussing on master planning, architecture and interior design. The company was formed in 1958 and employed approximately 359 people on 30 April 2026 across eleven studios in the UK, Europe, Middle East and Asia.
The principal focus of our business is major public and commercial projects both within the UK and internationally across the residential, workplace, retail, education, master planning and hospitality sectors. The Group have an established expertise in tall building design, in urban planning and master planning internationally as well as interior design and space planning.
The principal risks associated with the execution of the group's strategy relate to:
∙The impact of the economies and competition in the markets in which the group operates, especially as relates to sudden and unexpected changes in the geopolitical landscape.
∙The exposure to fluctuations in foreign exchange rates arising from the translation of results and monetary assets and liabilities denominated in foreign currencies into sterling.
∙The financial position of our clients and their continued ability to obtain funding.
∙The ability of the business to attract and retain suitably qualified staff to meet client needs.
The key financial performance indicators during the year were as follows:
Turnover for the group increased by 6.6% year on year with total revenue of £47m.
The Group has achieved success in delivering its growth strategy across all disciplines. Architecture remains the largest discipline with modest growth delivered on prior year. The Group's strengths during the year included the retail sector driven by studios in Madrid and to a lesser extent Lisbon and London, the residential sector in London including Stitch Studio and Singapore, the education sector in the UAE and the hospitality sector driven by studios in Lisbon and the UAE. Significant growth has been delivered in master planning. Large master planning projects have been completed through our Middle Eastern operations with delivery optimised over areas of expertise located in the Middle East, London, Singapore and to a lesser extent Warsaw and Lisbon Studios. The interiors discipline delivered growth mainly due to a focus on the workplace sector with revenue driven across European Studios. Town planning and consultancy work delivered through the Nexus business had an outstanding year with turnover growing by £1.4m with the business continuing to benefit from favourable market conditions under the current government. This
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
business unit is however not core to the wider Broadway Malyan strategy and as such its shareholding was sold to a management buyout on 16th October 2026.
Analysing the results geographically, strong growth was delivered in master planning with significant projects contracted via our Middle East operations as well as in the Nexus business. This was partially offset by declining interior design work with a shift in strategic focus on winning global frameworks. The Group's European operations declined by 3.7% on prior year. Continued strength in Spain was offset by decline in Portugal, albeit against an exceptional prior year performance, and Poland. Performance from the Group’s operations in the Middle East and Singapore was strong throughout the financial year, with continuing demand for the Group’s services, particularly in master planning. This was partially offset by operations in China which continues to represent a challenging market to operate in. Personnel changes resulted in slower than expected growth in India, but the market continues to be a major growth focus for the business. After making distributions and contingencies the Group delivered a profit before tax of £3.0m which was a material improvement on prior year.
Delivery of a Sector Lead strategy has been a key focus for the directors over the financial year. As an employee-owned business, we also continue to drive forward initiatives that will improve the working agenda for all our colleagues and clients.
Sustainability and ESG initiatives are high priorities, both internally as a responsible business, and also for our clients in the design work we deliver. Improvement in business performance means the Group is also able to make strategic investments in the year ahead with a focus on IT, Marketing and Communications and Operating and Finance systems. Whilst the Group has been successful in creating a more agile and geographically diverse business this is not without exposure to external risk factors. Recent geopolitical developments in the Middle East represent a risk to sustained growth. The Board continues to balance these risks whilst ensuring it operates in the best way for all employees.
This report was approved by the board and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2026
The Directors present their report and the financial statements for the year ended 30 April 2026.
The Directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation and minority interests, amounted to £1,909,221 (2025 - £322,774).
Dividends of £19,600 we paid in the year (2025: £Nil). No further dividends have been proposed or recommended in the current or prior year.
The Directors who served during the year were:
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
Financial instrument risks - the Group has established a risk and financial management framework whose primary objective is to protect the group from events that hinder the achievement of the group's performance objectives. The objectives aim to limit undue exposure, ensure sufficient working capital exists and monitor the management of risk at a business unit level.
Foreign currency risks - the Group routinely contracts in currencies other than sterling. Liabilities relating to such contracts are denominated in the same currencies to minimise the company's net exposure. Credit risk - all new clients are subject to appropriate credit checks before substantive work commences. Further checks are made as appropriate as work progresses. Liquidity risk - the company maintains appropriate levels of working capital and long term finance to ensure that it has sufficient funds available for its operations and short-term investment plans.
The Group’s business activities, together with the factors likely to affect its future development, its financial position, financial risk management objectives, details of its financial instruments and exposures to financial risk are described above. Note 2.4 also describes the going concern position of the Group.
The Group has appropriate financial resources, together with long-term contracts with customers across different geographical areas and industry sectors. As a consequence, the directors believe that the Group is well placed to manage its business risks successfully, despite the current uncertain economic outlook.
Below is the report for the year:
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
Quantification and reporting methodology
The directors have included the energy usage of Group employees only in this note. The directors have used the available guidance and the DEFRA conversion factors. Intensity measurement The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per Group employee Measures taken to improve energy efficiency Utilisation of remote and virtual meetings has continued to be supported and encouraged to reduce staff travel where possible. We have promoted employee behaviour change to reduce unnecessary energy use and reviewed HVAC operation to optimise settings. Staff have been encouraged to adopt simple energy-saving practices such as switching off devices. We have phased out on-site servers, switching to energy efficient off-site cloud based servers.
The Company has chosen in accordance with Section 414C(II) of the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 to set out within the Company’s Strategic Report, the information required by Schedule 7 of the Large and Medium Sized Companies and Groups (Accounts and Reports) Regulation 2008. This includes information that would have been included in the business review and details of the principal risks and uncertainties.
On 16th October 2026 Broadway Malyan Holdings Limited sold its share in Nexus Planning Limited resulting in a profit for the group of £443,096.
The auditor, Menzies LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROADWAY MALYAN HOLDINGS LIMITED
We have audited the financial statements of Broadway Malyan Holdings Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 30 April 2026, which comprise the Consolidated Income Statement, the Consolidated Statement of Comprehensive Income, the Consolidated Analysis of Net Debt, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our 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.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROADWAY MALYAN HOLDINGS LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROADWAY MALYAN HOLDINGS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an 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 Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The Group is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant:
∙The Companies Act 2006;
∙Financial Reporting Standard 102;
∙General Data Protection Regulations; and
∙UK tax legislation.
We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
We understood how the Group is complying with those legal and regulatory frameworks by, making inquiries to management, those responsible for legal and compliance procedures.
The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.
We assessed the susceptibility of the Group financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
∙Identifying and assessing the measures management has in place to prevent and detect fraud;
∙Understanding how those charged with governance considered and addressed the potential for override of controls or
∙other inappropriate influence over the financial reporting process;
∙Challenging assumptions and judgments made by management in its significant accounting estimates; and
∙Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:
∙The use of management override of controls to manipulate results, or to cause the Group to enter into transactions not in its best interests; or
∙Posting of unusual journals and complex transactions.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROADWAY MALYAN HOLDINGS LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an 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 Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
4th Floor
95 Gresham Street
EC2V 7AB
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CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 30 APRIL 2026
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2026
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 40 form part of these financial statements.
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COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 40 form part of these financial statements.
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