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REGISTERED NUMBER: 00810803 (England and Wales)















ALLELYS (HOLDINGS) LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
For The Year Ended 28 FEBRUARY 2023










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


ALLELYS (HOLDINGS) LIMITED

COMPANY INFORMATION
For The Year Ended 28 FEBRUARY 2023







DIRECTORS: D J Allely
R M Allely
P C Allely





REGISTERED OFFICE: Benavon
The Slough
Studley
Warwickshire
B80 7EN





REGISTERED NUMBER: 00810803 (England and Wales)





AUDITORS: Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

GROUP STRATEGIC REPORT
For The Year Ended 28 FEBRUARY 2023


The directors present their strategic report of the company and the group for the year ended 28 February 2023.

REVIEW OF BUSINESS
The results for the year,as set out on page 8, show a profit on ordinary activities of £123,508 (2022 £1,250,591). The total shareholders' funds have increased to £14,458,432 (2022 £14,359,924).

PRINCIPAL RISKS AND UNCERTAINTIES
Tough economic conditions continue, together with the cost of living crisis and the continued war in Ukraine which has resulting in volatile oil and gas prices across the globe.

FINANCIAL KEY PERFORMANCE INDICATORS
The group has established and recognised key performance indicators to measure progress in achieving its key business objectives and strategies; these are reviewed on a regular basis.

FUTURE DEVELOPMENTS
The directors pride themselves on the strong relationships that they have developed with their customers and supply chain. As a result, the directors feel that they are well placed to take advantage of the future opportunities during the coming year.

ON BEHALF OF THE BOARD:





D J Allely - Director


12 September 2023

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

REPORT OF THE DIRECTORS
For The Year Ended 28 FEBRUARY 2023


The directors present their report with the financial statements of the company and the group for the year ended 28 February 2023.

DIVIDENDS
No interim dividend was paid during the year. The directors recommend a final dividend of £154.32 per share.

The total distribution of dividends for the year ended 28 February 2023 will be £ 25,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2022 to the date of this report.

D J Allely
R M Allely
P C Allely

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies 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 company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Charles Lovell & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D J Allely - Director


12 September 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALLELYS (HOLDINGS) LIMITED


Opinion
We have audited the financial statements of Allelys (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28 February 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, 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 our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 28 February 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
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 and 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALLELYS (HOLDINGS) LIMITED


Matters on which we are required to report by exception
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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALLELYS (HOLDINGS) LIMITED


Auditors' responsibilities for the audit of the financial statements
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 a Report of the Auditors 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 financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud and error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the nature of the industry and the sector in which they operate. We determined that the following laws and regulations were most significant; the Companies Act 2006, the UK Corporate Governance Code and UK corporate taxation laws.

- We obtained an understanding of how the Company are complying with those legal and regulatory frameworks by making inquiries with the management of the Company and the Group's audit department.

- We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the Audit engagement team included:

- identifying and assessing the design effectiveness of controls that 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 judgements made by management in its significant accounting
estimates.

- identifying and testing journal enteries and performing analytical procedures to identify any unusual
or unexpected relationships that may indicate risks of material misstatement due to fraud.

- assessing the extent of compliance with the relevant laws and regulations.

- We also communicated relevant identified laws and regulations and potential fraud risk to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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 Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALLELYS (HOLDINGS) LIMITED


Use of our report
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 a Report of the Auditors 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.




John Thomas Harris (Senior Statutory Auditor)
for and on behalf of Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

12 September 2023

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

CONSOLIDATED INCOME STATEMENT
For The Year Ended 28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   

TURNOVER 3 25,410,646 20,908,145

Cost of sales 20,349,601 16,164,997
GROSS PROFIT 5,061,045 4,743,148

Distribution costs 413,743 265,605
Administrative expenses 4,257,139 3,104,364
4,670,882 3,369,969
390,163 1,373,179

Other operating income - 41,596
OPERATING PROFIT 5 390,163 1,414,775

Income from shares in group undertakings - 50,000
Interest receivable and similar income 70 -
70 50,000
390,233 1,464,775

Interest payable and similar expenses 6 266,725 214,184
PROFIT BEFORE TAXATION 123,508 1,250,591

Tax on profit 7 - (485,109 )
PROFIT FOR THE FINANCIAL YEAR 123,508 1,735,700
Profit attributable to:
Owners of the parent 123,508 1,735,700

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
For The Year Ended 28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   

PROFIT FOR THE YEAR 123,508 1,735,700


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

123,508

1,735,700

Total comprehensive income attributable to:
Owners of the parent 123,508 1,735,700

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

CONSOLIDATED BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 5,376 5,376
Tangible assets 11 19,311,329 15,932,230
Investments 12
Interest in associate 100 100
Investment property 13 1,050,000 1,050,000
20,366,805 16,987,706

CURRENT ASSETS
Stocks 14 51,053 50,024
Debtors 15 6,177,817 7,475,569
Cash at bank and in hand 571,857 342,536
6,800,727 7,868,129
CREDITORS
Amounts falling due within one year 16 6,499,233 4,753,698
NET CURRENT ASSETS 301,494 3,114,431
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,668,299

20,102,137

CREDITORS
Amounts falling due after more than one
year

17

6,209,867

5,742,213
NET ASSETS 14,458,432 14,359,924

CAPITAL AND RESERVES
Called up share capital 21 162 162
Capital redemption reserve 22 6,988 6,988
Retained earnings 22 14,451,282 14,352,774
SHAREHOLDERS' FUNDS 14,458,432 14,359,924

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2023 and were signed on its behalf by:





D J Allely - Director


ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

COMPANY BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 19,311,329 15,932,230
Investments 12 7,700 7,700
Investment property 13 1,050,000 1,050,000
20,369,029 16,989,930

CURRENT ASSETS
Debtors 15 1,915,513 1,680,345
Cash at bank 98,882 23,412
2,014,395 1,703,757
CREDITORS
Amounts falling due within one year 16 5,731,969 3,107,071
NET CURRENT LIABILITIES (3,717,574 ) (1,403,314 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,651,455

15,586,616

CREDITORS
Amounts falling due after more than one
year

17

6,209,867

5,742,213
NET ASSETS 10,441,588 9,844,403

CAPITAL AND RESERVES
Called up share capital 21 162 162
Capital redemption reserve 6,988 6,988
Retained earnings 10,434,438 9,837,253
SHAREHOLDERS' FUNDS 10,441,588 9,844,403

Company's profit for the financial year 622,185 3,636,449

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2023 and were signed on its behalf by:





D J Allely - Director


ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For The Year Ended 28 FEBRUARY 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   

Balance at 1 March 2021 162 12,857,074 6,988 12,864,224

Changes in equity
Dividends - (240,000 ) - (240,000 )
Total comprehensive income - 1,735,700 - 1,735,700
Balance at 28 February 2022 162 14,352,774 6,988 14,359,924

Changes in equity
Dividends - (25,000 ) - (25,000 )
Total comprehensive income - 123,508 - 123,508
Balance at 28 February 2023 162 14,451,282 6,988 14,458,432

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

COMPANY STATEMENT OF CHANGES IN EQUITY
For The Year Ended 28 FEBRUARY 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   

Balance at 1 March 2021 162 6,440,804 6,988 6,447,954

Changes in equity
Dividends - (240,000 ) - (240,000 )
Total comprehensive income - 3,636,449 - 3,636,449
Balance at 28 February 2022 162 9,837,253 6,988 9,844,403

Changes in equity
Dividends - (25,000 ) - (25,000 )
Total comprehensive income - 622,185 - 622,185
Balance at 28 February 2023 162 10,434,438 6,988 10,441,588

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

CONSOLIDATED CASH FLOW STATEMENT
For The Year Ended 28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,353,474 3,227,252
Interest paid (99,964 ) (133,647 )
Interest element of hire purchase payments
paid

(166,761

)

(80,537

)
Tax paid - 467,481
Net cash from operating activities 4,086,749 3,480,549

Cash flows from investing activities
Purchase of tangible fixed assets (788,578 ) (1,421,778 )
Sale of tangible fixed assets 423,890 299,067
Sale of fixed asset investments - 432,500
Interest received 70 -
Dividends received - 50,000
Net cash from investing activities (364,618 ) (640,211 )

Cash flows from financing activities
New loans in year - 1,250,000
Loan repayments in year (299,102 ) (1,800,251 )
Invoice discounting advanced 855,522 (483,845 )
Capital repayments in year (3,819,507 ) (1,708,338 )
Amount withdrawn by directors (204,723 ) 18,983
Equity dividends paid (25,000 ) (240,000 )
Net cash from financing activities (3,492,810 ) (2,963,451 )

Increase/(decrease) in cash and cash equivalents 229,321 (123,113 )
Cash and cash equivalents at beginning
of year

2

342,536

465,649

Cash and cash equivalents at end of year 2 571,857 342,536

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
For The Year Ended 28 FEBRUARY 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
28.2.23 28.2.22
£    £   
Profit before taxation 123,508 1,250,591
Depreciation charges 2,176,457 1,666,272
Profit on disposal of fixed assets (44,888 ) (501,740 )
Finance costs 266,725 214,184
Finance income (70 ) (50,000 )
2,521,732 2,579,307
Increase in stocks (1,029 ) (20,924 )
Decrease in trade and other debtors 1,297,752 750,362
Increase/(decrease) in trade and other creditors 535,019 (81,493 )
Cash generated from operations 4,353,474 3,227,252

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 28 February 2023
28.2.23 1.3.22
£    £   
Cash and cash equivalents 571,857 342,536
Year ended 28 February 2022
28.2.22 1.3.21
£    £   
Cash and cash equivalents 342,536 465,649


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.3.22 Cash flow changes At 28.2.23
£    £    £    £   
Net cash
Cash at bank
and in hand 342,536 229,321 571,857
342,536 229,321 571,857
Debt
Finance leases (4,360,124 ) 3,819,507 - (5,775,591 )
Debts falling due
within 1 year (925,980 ) (856,078 ) - (1,782,058 )
Debts falling due
after 1 year (2,673,132 ) 299,659 - (2,373,473 )
(7,959,236 ) 3,263,088 - (9,931,122 )
Total (7,616,700 ) 3,492,409 - (9,359,265 )

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For The Year Ended 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Allelys (Holdings) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Plant and machinery - 25% on cost and 10% on cost
Motor vehicles - 25% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

4. EMPLOYEES AND DIRECTORS
28.2.23 28.2.22
£    £   
Wages and salaries 7,636,904 5,741,296
Social security costs 316,628 241,079
Other pension costs 209,238 157,743
8,162,770 6,140,118

The average number of employees during the year was as follows:
28.2.23 28.2.22

Selling and distribution 112 102
Administration 29 23
Management 9 8
150 133

The average number of employees by undertakings that were proportionately consolidated during the year was 150 (2022 - 133 ) .

28.2.23 28.2.22
£    £   
Directors' remuneration 151,000 151,000
Directors' pension contributions to money purchase schemes 27,000 27,000

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

28.2.23 28.2.22
£    £   
Other operating leases 54,875 10,764
Depreciation - owned assets 1,299,063 1,002,898
Depreciation - assets on hire purchase contracts 966,388 663,374
Profit on disposal of fixed assets (44,888 ) (501,740 )
Auditors' remuneration 30,000 30,000
Foreign exchange differences 4,613 7,666

6. INTEREST PAYABLE AND SIMILAR EXPENSES
28.2.23 28.2.22
£    £   
Bank loan interest 99,964 133,647
Hire purchase interest 166,761 80,537
266,725 214,184

7. TAXATION

Analysis of the tax credit
The tax credit on the profit for the year was as follows:
28.2.23 28.2.22
£    £   
Current tax:
Prior period adjustment - (485,109 )
Tax on profit - (485,109 )

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
28.2.23 28.2.22
£    £   
Ordinary shares of £1 each
Final 25,000 240,000

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 5,376
NET BOOK VALUE
At 28 February 2023 5,376
At 28 February 2022 5,376

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


11. TANGIBLE FIXED ASSETS

Group
Freehold Short Plant and Motor
prop leasehold machinery vehicles Totals
£    £    £    £    £   
COST
At 1 March 2022 6,364,653 869,682 4,244,769 20,289,179 31,768,283
Additions - - 440,397 5,583,155 6,023,552
Disposals - - - (496,102 ) (496,102 )
Transfer to ownership - - - 237,505 237,505
At 28 February 2023 6,364,653 869,682 4,685,166 25,613,737 37,533,238
DEPRECIATION
At 1 March 2022 - 557,282 2,321,993 12,956,778 15,836,053
Charge for year - 50,387 245,886 1,969,178 2,265,451
Eliminated on disposal - - - (117,100 ) (117,100 )
Transfer to ownership - - - 237,505 237,505
At 28 February 2023 - 607,669 2,567,879 15,046,361 18,221,909
NET BOOK VALUE
At 28 February 2023 6,364,653 262,013 2,117,287 10,567,376 19,311,329
At 28 February 2022 6,364,653 312,400 1,922,776 7,332,401 15,932,230

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2022 1,054,981 5,649,494 6,704,475
Additions 286,621 4,948,353 5,234,974
Transfer to ownership - (288,475 ) (288,475 )
At 28 February 2023 1,341,602 10,309,372 11,650,974
DEPRECIATION
At 1 March 2022 134,631 1,049,660 1,184,291
Charge for year 107,887 858,501 966,388
Transfer to ownership - (288,475 ) (288,475 )
At 28 February 2023 242,518 1,619,686 1,862,204
NET BOOK VALUE
At 28 February 2023 1,099,084 8,689,686 9,788,770
At 28 February 2022 920,350 4,599,834 5,520,184

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


11. TANGIBLE FIXED ASSETS - continued

Company
Freehold Short Plant and Motor
prop leasehold machinery vehicles Totals
£    £    £    £    £   
COST
At 1 March 2022 6,364,653 869,682 4,244,769 20,289,179 31,768,283
Additions - - 440,397 5,583,155 6,023,552
Disposals - - - (496,102 ) (496,102 )
Transfer to ownership - - - 237,505 237,505
At 28 February 2023 6,364,653 869,682 4,685,166 25,613,737 37,533,238
DEPRECIATION
At 1 March 2022 - 557,282 2,321,993 12,956,778 15,836,053
Charge for year - 50,387 245,886 1,969,178 2,265,451
Eliminated on disposal - - - (117,100 ) (117,100 )
Transfer to ownership - - - 237,505 237,505
At 28 February 2023 - 607,669 2,567,879 15,046,361 18,221,909
NET BOOK VALUE
At 28 February 2023 6,364,653 262,013 2,117,287 10,567,376 19,311,329
At 28 February 2022 6,364,653 312,400 1,922,776 7,332,401 15,932,230

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2022 1,054,981 5,649,494 6,704,475
Additions 286,621 4,948,353 5,234,974
Transfer to ownership - (288,475 ) (288,475 )
At 28 February 2023 1,341,602 10,309,372 11,650,974
DEPRECIATION
At 1 March 2022 134,631 1,049,660 1,184,291
Charge for year 107,887 858,501 966,388
Transfer to ownership - (288,475 ) (288,475 )
At 28 February 2023 242,518 1,619,686 1,862,204
NET BOOK VALUE
At 28 February 2023 1,099,084 8,689,686 9,788,770
At 28 February 2022 920,350 4,599,834 5,520,184

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


12. FIXED ASSET INVESTMENTS

Group
Interest
in
associate
£   
COST
At 1 March 2022
and 28 February 2023 100
NET BOOK VALUE
At 28 February 2023 100
At 28 February 2022 100
Company
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 7,600 100 7,700
NET BOOK VALUE
At 28 February 2023 7,600 100 7,700
At 28 February 2022 7,600 100 7,700

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Allelys General Haulage Limited
Registered office:
Nature of business: Haulage
%
Class of shares: holding
Ordinary 100.00
28.2.23 28.2.22
£    £   
Aggregate capital and reserves 1,380,954 1,332,821
Profit/(loss) for the year 48,133 (573,755 )

Allelys Heavy Haulage Limited
Registered office:
Nature of business: Heavy haulage contractors
%
Class of shares: holding
Ordinary 100.00
28.2.23 28.2.22
£    £   
Aggregate capital and reserves 2,441,948 2,393,673
Profit/(loss) for the year 48,275 (563,150 )

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


12. FIXED ASSET INVESTMENTS - continued

Allelys Installations Limited
Registered office:
Nature of business: Removal and installation of plant and machinery
%
Class of shares: holding
Ordinary 100.00
28.2.23 28.2.22
£    £   
Aggregate capital and reserves 62,881 657,966
Loss for the year (595,085 ) (763,720 )

Studley Self Storage Limited
Registered office:
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
28.2.23 28.2.22
£    £   
Aggregate capital and reserves 133,283 133,283

Associated companies

Marshalls Transport (Evesham) Limited
Registered office:
Nature of business: Haulage contractors
%
Class of shares: holding
Ordinary 50.00
31.10.22 31.10.21
£    £   
Aggregate capital and reserves 4,815,615 4,339,218
Profit for the year 476,397 271,433

Dolton Transport Limited
Registered office:
Nature of business: Letting of property
%
Class of shares: holding
Ordinary 50.00
31.12.22 31.12.21
£    £   
Aggregate capital and reserves 378,568 348,583
Profit for the year 29,985 25,381


ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 1,050,000
NET BOOK VALUE
At 28 February 2023 1,050,000
At 28 February 2022 1,050,000

Company
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 1,050,000
NET BOOK VALUE
At 28 February 2023 1,050,000
At 28 February 2022 1,050,000

14. STOCKS

Group
28.2.23 28.2.22
£    £   
Valuation 51,053 50,024

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
28.2.23 28.2.22 28.2.23 28.2.22
£    £    £    £   
Trade debtors 5,750,437 5,748,065 140,163 107,532
Amounts owed by group undertakings - - 1,509,152 -
Amounts owed by participating interests 193,136 293,136 194,000 294,000
Other debtors 38,091 1,241,668 36,816 1,231,853
Prepayments and accrued income 196,153 192,700 35,382 46,960
6,177,817 7,475,569 1,915,513 1,680,345

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
28.2.23 28.2.22 28.2.23 28.2.22
£    £    £    £   
Bank loans and overdrafts (see note 18) 406,780 406,224 406,780 406,224
Other loans (see note 18) 1,375,278 519,756 - -
Hire purchase contracts (see note 19) 1,939,197 1,291,043 1,939,197 1,291,043
Trade creditors 1,572,616 1,406,951 167,145 47,024
Amounts owed to group undertakings - - 3,125,225 1,106,905
Amounts owed to participating interests 26,544 1,416 - -
Social security and other taxes 680,437 607,757 - -
Other creditors 130,171 69,426 34,295 38,170
Directors' loan accounts 204 204,927 204 204,927
Accruals and deferred income 368,006 246,198 59,123 12,778
6,499,233 4,753,698 5,731,969 3,107,071

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
28.2.23 28.2.22 28.2.23 28.2.22
£    £    £    £   
Bank loans (see note 18) 2,373,473 2,673,132 2,373,473 2,673,132
Hire purchase contracts (see note 19) 3,836,394 3,069,081 3,836,394 3,069,081
6,209,867 5,742,213 6,209,867 5,742,213

18. LOANS

An analysis of the maturity of loans is given below:

Group Company
28.2.23 28.2.22 28.2.23 28.2.22
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 406,780 406,224 406,780 406,224
Invoice discounting 1,375,278 519,756 - -
1,782,058 925,980 406,780 406,224
Amounts falling due between one and two years:
Bank loans - 1-2 years 406,780 406,224 406,780 406,224
Amounts falling due between two and five years:
Bank loans - 2-5 years 1,409,155 1,552,235 1,409,155 1,552,235
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 557,538 714,673 557,538 714,673

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
28.2.23 28.2.22
£    £   
Net obligations repayable:
Within one year 1,939,197 1,291,043
Between one and five years 3,836,394 3,069,081
5,775,591 4,360,124

Company
Hire purchase contracts
28.2.23 28.2.22
£    £   
Net obligations repayable:
Within one year 1,939,197 1,291,043
Between one and five years 3,836,394 3,069,081
5,775,591 4,360,124

Group
Non-cancellable operating leases
28.2.23 28.2.22
£    £   
Within one year 22,985 4,581
Between one and five years 115,373 -
138,358 4,581

20. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
28.2.23 28.2.22 28.2.23 28.2.22
£    £    £    £   
Bank loans 2,780,253 3,079,356 2,780,253 3,079,356
Invoice discounting 1,375,278 519,756 - -
Hire purchase contracts 5,775,591 4,360,124 5,775,591 4,360,124
9,931,122 7,959,236 8,555,844 7,439,480

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
162 Ordinary £1 162 162

ALLELYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 00810803)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


22. RESERVES

Group
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 March 2022 14,352,774 6,988 14,359,762
Profit for the year 123,508 123,508
Dividends (25,000 ) (25,000 )
At 28 February 2023 14,451,282 6,988 14,458,270


23. RELATED PARTY DISCLOSURES

During the year Allelys (Holdings) Limited paid £1,125 to each of D J Allely, R M Allely, P C Allely for the rent of the land at The Slough, Studley, Warwickshire.

24. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is D J Allely, R M Allely and P C Allely acting in concert.