WELLFORD HOLDINGS LIMITED
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Cash
£1.2m
+18.6% vs 2024
Net assets
£16m
+335% highest in 3 filed years
Employees
51
+75.9% highest in 3 filed years
Profit before tax
-£16m
-178.9% lowest in 3 filed years
Net assets
3-year trend · vs Consumer Discretionary median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-06-30
| Metric | Trend | 2023-06-30 | 2024-06-30 | 2025-06-30 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £47,551,000 | £33,745,000 | £54,962,000 | +62.9% | |
| Operating profit | -£3,628,000 | -£4,687,000 | -£12,290,000 | -162.2% | |
| Profit before tax | -£5,345,000 | -£5,768,000 | -£16,089,000 | -178.9% | |
| Net profit | — | — | -£15,890,000 | — | |
| Cash | £2,129,000 | £970,000 | £1,150,000 | +18.6% | |
| Total assets less current liabilities | £22,184,000 | £12,778,000 | — | — | |
| Net assets | -£7,147,000 | -£6,878,000 | £16,163,000 | +335% | |
| Equity | -£7,147,000 | -£6,878,000 | £16,163,000 | +335% | |
| Average employees | 40 | 29 | 51 | +75.9% | |
| Wages | £2,728,000 | £2,145,000 | £3,134,000 | +46.1% | |
| Directors' remuneration | £1,124,000 | £729,000 | £765,000 | +4.9% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-06-30 | 2024-06-30 | 2025-06-30 |
|---|---|---|---|---|
| Operating margin | -7.6% | -13.9% | -22.4% | |
| Net margin | — | — | -28.9% | |
| Return on capital employed | -16.4% | -36.7% | — | |
| Gearing (liabilities / total assets) | 130.1% | 130.0% | 78.4% | |
| Current ratio | 1.11x | 1.04x | 0.80x | |
| Interest cover | -2.11x | -4.21x | -3.15x |
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.
Name history
Renamed 1 time since incorporation
- WELLFORD HOLDINGS LIMITED 2025-04-23 → present
- CANNARAY LIMITED 2018-12-07 → 2025-04-23
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- PKF Littlejohn LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors are continually reviewing their plans and forecasts, including modelling potential scenarios resulting from the impact of the merger and demerger. Based on these projections and having considered the effects of the potential outcomes, and the potential impact it may cause on the ability of the Company to continue as a going concern, the directors consider the Company will have sufficient cash resources for a period of at least twelve months from the date of approval of these financial statements and have concluded that going concern is an appropriate basis of preparation in these financial statements.”
Group structure
- WELLFORD HOLDINGS LIMITED · parent
- Therismos Limited 100%
- Therismos Pharma (Ireland) Limited 100%
- Therismos GmbH 100%
- Wellford Medical Clinic Limited 80%
- 4583560 Nova Scotia Limited 100%
- 4583559 Nova Scotia Limited 100%
- 3290461 Nova Scotia Limited 100%
- Aqualitas Inc. 100%
Significant events
- “On 14 February 2025 the Group acquired 100% of the issued share capital of Aqualitas Inc ("Aqualitas"), a Canadian based company that grows and distributes cannabis flower and manufacturers other cannabis presentations.”
- “Early in the financial year to 30 June 2026 four holders of Convertible Loan Notes elected to convert their debt into equity at the default price of £4.67 per share eliminating £3.0m from current liabilities at the balance sheet date.”
- “In September 2025 the Group issued £5.4m of new Convertible Loan Notes to existing shareholders/note holders.”
- “In December 2025 the directors notified the relevant vendors of Aqualitas Inc that the deferred consideration targets per the SPA had not been met and advised of the cancellation of 1,429,294 Exchangeable Shares in 4583559 Nova Scotia Limited.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
8 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HOGG, David John | Secretary | 2018-12-07 | — | — |
| FREEDMAN, Michael Alan | Director | 2019-09-27 | Jun 1960 | American |
| GARDEN, Andrew Stephen Alan | Director | 2022-09-20 | Sep 1961 | British |
| HOGG, David John | Director | 2018-12-07 | Jul 1970 | British |
| KNOWLES, Nigel Graham, Sir | Director | 2019-09-27 | Feb 1956 | British |
| SHALHOUB, Matthew | Director | 2025-11-12 | Jun 1988 | Canadian |
| SULLIVAN, Christopher Paul | Director | 2019-09-27 | May 1957 | British |
| WILCOX, Stuart | Director | 2025-11-12 | Aug 1960 | American |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MAGUIRE, Michael Scott | Director | 2018-12-07 | 2025-11-30 |
| MCLEAN, Edward Stanton | Director | 2019-09-27 | 2020-01-17 |
| SHARPE, Clive Richard | Director | 2018-12-07 | 2022-09-18 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Michael Scott Maguire | Individual | Shares 25–50%, Voting 25–50% | 2018-12-07 | Ceased 2019-09-30 |
| Joshua Boyd Roberts | Individual | Shares 25–50%, Voting 25–50% | 2018-12-07 | Ceased 2019-09-30 |
| Mr Clive Richard Sharpe | Individual | Shares 25–50%, Voting 25–50% | 2018-12-07 | Ceased 2019-09-30 |
Filing timeline
Last 20 of 81 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-04-23 CERTNM Certificate change of name company PDF
- 2024-02-25 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-20 | AA | accounts | Accounts with accounts type group | |
| 2026-06-17 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-05-29 | CH03 | officers | Change person secretary company with change date | |
| 2026-05-29 | CH01 | officers | Change person director company with change date | |
| 2026-01-08 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2025-12-09 | SH01 | capital | Capital allotment shares | |
| 2025-11-30 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-12 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-12 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-23 | CERTNM | change-of-name | Certificate change of name company | |
| 2025-04-04 | AA | accounts | Accounts with accounts type group | |
| 2025-03-11 | SH01 | capital | Capital allotment shares | |
| 2025-02-28 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-02-06 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-04-08 | AA | accounts | Accounts with accounts type group | |
| 2024-03-04 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2024-02-29 | SH01 | capital | Capital allotment shares | |
| 2024-02-28 | SH03 | capital | Capital return purchase own shares | |
| 2024-02-28 | SH03 | capital | Capital return purchase own shares | |
| 2024-02-25 | RESOLUTIONS | resolution | Resolution |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 2
- Officers appointed
- 2
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.