A.W. (Europe) Limited

The company is a wholly-owned subsidiary of Associated Weavers International N.V. and operates as the group's UK sales and distribution unit. The company's principal activity is the commercialisation of broadloom tufted carpet and rugs. Since 1 April 2019 the company has also started trading in Luxury Vinyl Tiles. The directors are not aware, at the date of the report, of any likely major changes in the company's activities in the next year. As shown in the company's profit and loss account, the company's sales turnover has dropped down to £52m, with a profit before taxation for the year of £2,158,220 (2023: loss of £338,595). The balance sheet of the financial statements shows that, as a result of the profit for the year and the actuarial result reported in the statement of comprehensive income, the company's net assets at the year-end has moved from a deficit of £342,104 to a surplus of £1.811,116. In the current year there was a recognisable surplus of £626,000 (2023 - surplus of £604,000) related to the pension scheme. In 2024, A.W. (Europe) Ltd continued to build on the brands with some strong additions to the Invictus and GAIA brands into the UK market. Consumer confidence was still low during the year which reflected in volumes especially with our larger national customers. Obviously, the disappearance of Carpetright also did not help. LVT (Luxury Vinyl Tiles) continued to grow and carried on gaining momentum, taking market share from market leading competition. Turnover increased with another 32% in 2024 against 2023, due to a strong marketing campaign and increased presence at point of sale in the market.