WELLFORD HOLDINGS LIMITED
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Next accounts due
2026-06-30 (in 1mo)
Last filed for 2024-06-30
Confirmation statement due
2025-12-20
Overdue
Watchouts
Cash
£970K
Latest balance sheet
Net assets
-£7M
Equity attributable
Employees
29
Average over period
Profit before tax
-£6M
Period ending 2024-06-30
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Confirmation statement overdue
Due 2025-12-20.
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · latest reflected 2024-06-30
| Metric | Trend | 2023-06-30 | 2024-06-30 |
|---|---|---|---|
| Turnover | £47,551,000 | £33,745,000 | |
| Operating profit | -£3,628,000 | -£4,687,000 | |
| Profit before tax | -£5,345,000 | -£5,768,000 | |
| Net profit | -£10,173,000 | £3,833,000 | |
| Cash | £2,129,000 | £970,000 | |
| Total assets less current liabilities | £22,184,000 | £12,778,000 | |
| Net assets | -£7,147,000 | -£6,878,000 | |
| Equity | -£7,147,000 | -£6,878,000 | |
| Average employees | 40 | 29 | |
| Wages | £2,728,000 | £2,545,000 | |
| Directors' remuneration | £1,124,000 | £729,000 |
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
Year-on-year
FY2023 → FY2024 · period ending 2024-06-30 vs 2023-06-30
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-06-30 | 2024-06-30 |
|---|---|---|---|
| Operating margin | -7.6% | -13.9% | |
| Net margin | -21.4% | 11.4% | |
| Return on capital employed | -16.4% | -36.7% | |
| Gearing (liabilities / total assets) | 130.1% | 130.0% | |
| Current ratio | 1.11x | 1.04x | |
| Interest cover | -2.11x | -4.28x |
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
- Cannaray Brands Limited
- Therismos Limited 100%
- Therismos Pharma (Ireland) Limited 100%
- Therismos GmbH 100%
- Wellford Medical Clinic Limited 80%
Significant events
- “In February 2024, Cannaray Brands Limited (the CBD part of Cannaray) was spun out of the Group to be a standalone entity and no longer forms part of the ongoing Cannaray Limited reported results.”
- “On 14 February 2025 Cannaray completed the acquisition of 100% of the share capital of Aqualitas Inc, a Canadian organic Licensed Producer (LP).”
- “On 1 April 2024, the classification of medical cannabis was changed in Germany from being a narcotic to being a non-narcotic. This change removed significant barriers for prescribers and patients and streamlined access to medical cannabis.”
- “The Group raised a total of £9.7m during the 12 months ended 31 December 2024.”
- “In July 2024 Cannaray secured further funding from its existing shareholders and note holders to improve output from Aqualitas.”
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 77 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
- 2024-02-25 RESOLUTIONS Resolution
- 2024-02-25 RESOLUTIONS Resolution
- 2024-02-25 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 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 | |
| 2024-02-25 | RESOLUTIONS | resolution | Resolution | |
| 2024-02-25 | RESOLUTIONS | resolution | Resolution | |
| 2024-02-25 | MA | incorporation | Memorandum articles | |
| 2024-02-23 | SH02 | capital | Capital alter shares subdivision |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- 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.