WADWORTH AND COMPANY LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Saffery LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“We are currently in the process of refinancing our existing levels of debt with either our current or potentially new banking partners, or a combination of both. This activity is being provided by a debt broker and will not be finalised until the summer of 2025 in advance of our current products expiring on 30 September 2025. Having assessed the short and long-term cash flow requirements of the business funded by EBITDA growth forecast until year end 2026, the directors have concluded that it has sufficient resources to continue as a going concern, as negotiations with banking partners are in the final stages of agreements in principle.”

Significant events

• “It has been another transformative year at Wadworth but not one without its challenges.”
• “The EBITDA for the business increased by 17% compared to last year and this resulted in a profit on ordinary activity of £3.5m. We have increased our sales by nearly 6% across the business and the year finished on a high with strong Christmas trading.”
• “annual property revaluation resulted in a total gain of £3.9m”
• “With a full year of operating the new brewery now behind us, it is our clear strategic aim to increase the share of own-brewed draught product sold throughout our estate in the coming years, and we have already seen some huge successes.”
• “We have launched two new permanent beers to the estate, Evolution Session IPA and To Helles and Back, a Helles-style lager.”
• “We also reintroduced Corvus, our 4.1% stout, due to sustained customer demand in the stout category.”
• “the cost efficiencies that were identified in the investment case for the Folly Road brewery have consistently been delivered and we have reduced the gas and electricity usage of our production operations by approximately 60%.”
• “We undertook a comprehensive review of the entire tenanted estate at the beginning of 2024 and this has highlighted a number of opportunities within the division to grow market share and improve underlying earnings. During the year, one managed house was converted to a tenancy and three further sites are currently on the market for disposal.”
• “The company's borrowing facilities were extended for a further year from September 2024, and now that prospective interest rates are becoming more attractive, we are aiming to refinance on a longer term basis from September 2025.”
• “The redevelopment prospects for the Northgate site saw significant progress in 2024 and resulted in planning permission being successfully granted in February 2025 for the Backhouse part of the development.”
• “In the summer of 2024 we installed a 210 kilowatt-peak (kWp) solar array to complement the solar panels transferred from Northgate brewery.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +5.5%

  £39,154,000 → £41,318,000

• Cash

  -1.7%

  £1,210,000 → £1,189,000

• Net assets

  +3.3%

  £77,878,000 → £80,420,000

• Employees

  +7.1%

  522 → 559

• Operating profit

  +29.5%

  £2,700,000 → £3,496,000

• Profit before tax

  +13.3%

  £815,000 → £923,000

• Wages

  +10.2%

  £9,877,000 → £10,885,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers