REGISTERED NUMBER: 04207802 (England and Wales) |
Group Strategic Report, |
Report of the Directors and |
Consolidated Financial Statements |
for the Year Ended 31 March 2023 |
for |
A.L.D. Holdings Limited |
REGISTERED NUMBER: 04207802 (England and Wales) |
Group Strategic Report, |
Report of the Directors and |
Consolidated Financial Statements |
for the Year Ended 31 March 2023 |
for |
A.L.D. Holdings Limited |
A.L.D. Holdings Limited (Registered number: 04207802) |
Contents of the Consolidated Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Group Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 4 |
Consolidated Income Statement | 7 |
Consolidated Other Comprehensive Income | 8 |
Consolidated Balance Sheet | 9 |
Company Balance Sheet | 10 |
Consolidated Statement of Changes in Equity | 11 |
Company Statement of Changes in Equity | 12 |
Consolidated Cash Flow Statement | 13 |
Notes to the Consolidated Cash Flow Statement | 14 |
Notes to the Consolidated Financial Statements | 15 |
A.L.D. Holdings Limited |
Company Information |
for the Year Ended 31 March 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants & Business Advisers |
Alexandra House |
43 Alexandra St |
Nottingham |
Nottinghamshire |
NG5 1AY |
A.L.D. Holdings Limited (Registered number: 04207802) |
Group Strategic Report |
for the Year Ended 31 March 2023 |
The directors present their strategic report of the company and the group for the year ended 31 March 2023. |
REVIEW OF BUSINESS |
The company and its group reported an acceptable trading performance for the year. Turnover has increased, and gross margin has remained strong at 24% (2022 - 19%). |
The directors are also pleased to report that their future order book is strong and they hope to maintain levels of activity in 2023/2024. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The key business risks and uncertainties affecting the company and the group include its ability to obtain new contracts from the existing customer base, and to expand the customer base in order to grow. Whilst focusing on growth of the core business the Directors are aware that maintaining the group's ability to retain key employees will help achieve this. |
The group is exposed to the usual credit risk and cash flow risk associated with its business, and the credit terms afforded to customers, and manages this through tight credit control procedures. |
ANALYSIS OF KEY PERFORMANCE INDICATORS |
The board looks at turnover, margins and profitability when monitoring business performance. |
Turnover has increased from £11,796,093 to £12,642,792, with gross margins of 24%. Overheads remain well controlled, resulting in the group reporting a profit before taxation of £392,944. |
The board also considers key balance sheet areas in order to understand the financial position of the company and the group. |
Net assets have increased in the year by £322,230. The board are satisfied that key balance sheet sections remain strong. The board are satisfied that the group can continue to pay its debts as they fall due for the foreseeable future. |
ON BEHALF OF THE BOARD: |
A.L.D. Holdings Limited (Registered number: 04207802) |
Report of the Directors |
for the Year Ended 31 March 2023 |
The directors present their report with the financial statements of the company and the group for the year ended 31 March 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company was that of a holding company. |
The group's principal activity during the year was that of plastering, screeding, facades and dry lining contractors. |
DIVIDENDS |
No dividends will be distributed for the year ended 31 March 2023. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report. |
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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
AUDITORS |
The auditors, Wright Vigar Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
A.L.D. Holdings Limited |
Opinion |
We have audited the financial statements of A.L.D. Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 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 31 March 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 |
A.L.D. 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. |
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. |
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Our approach included obtaining an understanding of the legal and regulatory frameworks that are applicable to the company and we determined those that are most significant. Based on the results of our risk assessment we designed audit procedures to identify non-compliance with such laws and regulations. The specific procedures included enquiry of management and those charged with governance around actual and potential litigation and claims. |
In addition, and based on the results of our risk assessment we designed audit procedures to identify and address material misstatements in relation to fraud. Specifically we considered the risk of fraud through management override that may lead to a misappropriation of assets or inappropriate financial reporting. In response, we performed audit work over the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. |
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. |
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 |
A.L.D. 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. |
for and on behalf of |
Statutory Auditors |
Chartered Accountants & Business Advisers |
Alexandra House |
43 Alexandra St |
Nottingham |
Nottinghamshire |
NG5 1AY |
A.L.D. Holdings Limited (Registered number: 04207802) |
Consolidated |
Income Statement |
for the Year Ended 31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER | 12,642,792 | 11,796,093 |
Cost of sales | 9,562,770 | 9,525,265 |
GROSS PROFIT | 3,080,022 | 2,270,828 |
Administrative expenses | 2,678,794 | 2,006,103 |
401,228 | 264,725 |
Other operating income | 5,000 | 34,934 |
OPERATING PROFIT | 4 | 406,228 | 299,659 |
Interest receivable and similar income | 2,321 | 574 |
408,549 | 300,233 |
Interest payable and similar expenses | 5 | 15,605 | 14,383 |
PROFIT BEFORE TAXATION | 392,944 | 285,850 |
Tax on profit | 6 | 70,714 | 44,301 |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 322,230 | 241,549 |
A.L.D. Holdings Limited (Registered number: 04207802) |
Consolidated |
Other Comprehensive Income |
for the Year Ended 31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
PROFIT FOR THE YEAR | 322,230 | 241,549 |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
322,230 |
241,549 |
Total comprehensive income attributable to: |
Owners of the parent | 322,230 | 241,549 |
A.L.D. Holdings Limited (Registered number: 04207802) |
Consolidated Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 | 200,698 | 210,013 |
Investments | 9 | - | - |
Investment property | 10 | 375,000 | 375,000 |
575,698 | 585,013 |
CURRENT ASSETS |
Stocks | 11 | 26,250 | 26,250 |
Debtors | 12 | 3,570,406 | 2,624,610 |
Cash at bank and in hand | 1,202,577 | 798,339 |
4,799,233 | 3,449,199 |
CREDITORS |
Amounts falling due within one year | 13 | 2,756,617 | 1,732,542 |
NET CURRENT ASSETS | 2,042,616 | 1,716,657 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
2,618,314 |
2,301,670 |
CREDITORS |
Amounts falling due after more than one year | 14 | (220,535 | ) | (226,121 | ) |
PROVISIONS FOR LIABILITIES | 17 | (31,663 | ) | (31,663 | ) |
NET ASSETS | 2,366,116 | 2,043,886 |
CAPITAL AND RESERVES |
Called up share capital | 18 | 100 | 100 |
Revaluation reserve | 19 | 160,212 | 160,212 |
Retained earnings | 19 | 2,205,804 | 1,883,574 |
SHAREHOLDERS' FUNDS | 2,366,116 | 2,043,886 |
The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by: |
J L Smith - Director |
A.L.D. Holdings Limited (Registered number: 04207802) |
Company Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
Investments | 9 |
Investment property | 10 |
CURRENT ASSETS |
Debtors | 12 |
CREDITORS |
Amounts falling due within one year | 13 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 17 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 18 |
Revaluation reserve | 19 |
Retained earnings | 19 |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 20,620 | 13,428 |
The financial statements were approved by the Board of Directors and authorised for issue on |
A.L.D. Holdings Limited (Registered number: 04207802) |
Consolidated Statement of Changes in Equity |
for the Year Ended 31 March 2023 |
Called up |
share | Retained | Revaluation | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 April 2021 | 100 | 1,739,225 | 63,012 | 1,802,337 |
Changes in equity |
Total comprehensive income | - | 144,349 | 97,200 | 241,549 |
Balance at 31 March 2022 | 100 | 1,883,574 | 160,212 | 2,043,886 |
Changes in equity |
Total comprehensive income | - | 322,230 | - | 322,230 |
Balance at 31 March 2023 | 100 | 2,205,804 | 160,212 | 2,366,116 |
A.L.D. Holdings Limited (Registered number: 04207802) |
Company Statement of Changes in Equity |
for the Year Ended 31 March 2023 |
Called up |
share | Retained | Revaluation | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 April 2021 |
Changes in equity |
Total comprehensive income | - | ( |
) |
Balance at 31 March 2022 |
Changes in equity |
Total comprehensive income | - |
Balance at 31 March 2023 |
A.L.D. Holdings Limited (Registered number: 04207802) |
Consolidated Cash Flow Statement |
for the Year Ended 31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 472,913 | 551,577 |
Interest element of hire purchase payments paid |
(3,005 |
) |
(1,783 |
) |
Finance costs paid | (12,600 | ) | (12,600 | ) |
Tax paid | (1,884 | ) | (14,768 | ) |
Net cash from operating activities | 455,424 | 522,426 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (45,141 | ) | (77,185 | ) |
Interest received | 2,321 | 574 |
Net cash from investing activities | (42,820 | ) | (76,611 | ) |
Cash flows from financing activities |
Capital repayments in year | (8,366 | ) | (20,752 | ) |
Net cash from financing activities | (8,366 | ) | (20,752 | ) |
Increase in cash and cash equivalents | 404,238 | 425,063 |
Cash and cash equivalents at beginning of year |
2 |
798,339 |
373,276 |
Cash and cash equivalents at end of year | 2 | 1,202,577 | 798,339 |
A.L.D. Holdings Limited (Registered number: 04207802) |
Notes to the Consolidated Cash Flow Statement |
for the Year Ended 31 March 2023 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2023 | 2022 |
£ | £ |
Profit before taxation | 392,944 | 285,850 |
Depreciation charges | 54,456 | 59,678 |
Gain on revaluation of fixed assets | - | (120,000 | ) |
Finance costs | 15,605 | 14,383 |
Finance income | (2,321 | ) | (574 | ) |
460,684 | 239,337 |
(Increase)/decrease in trade and other debtors | (945,796 | ) | 176,648 |
Increase in trade and other creditors | 958,025 | 135,592 |
Cash generated from operations | 472,913 | 551,577 |
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 31 March 2023 |
31.3.23 | 1.4.22 |
£ | £ |
Cash and cash equivalents | 1,202,577 | 798,339 |
Year ended 31 March 2022 |
31.3.22 | 1.4.21 |
£ | £ |
Cash and cash equivalents | 798,339 | 373,276 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.4.22 | Cash flow | At 31.3.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 798,339 | 404,238 | 1,202,577 |
798,339 | 404,238 | 1,202,577 |
Debt |
Finance leases | (80,531 | ) | 8,366 | (72,165 | ) |
Debts falling due after 1 year | (180,000 | ) | - | (180,000 | ) |
(260,531 | ) | 8,366 | (252,165 | ) |
Total | 537,808 | 412,604 | 950,412 |
A.L.D. Holdings Limited (Registered number: 04207802) |
Notes to the Consolidated Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
A.L.D. Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in Sterling, which is the functional currency of the entity. |
Basis of consolidation |
The consolidated financial statements include the financial statements of the company and its subsidiary undertaking made up to 31 March 2023 to the extent of the group's interest in that undertaking and after eliminating intra-group transactions. Accounting policies are adjusted, where appropriate, to conform to group accounting policies. |
In the company's financial statements investments in subsidiary undertakings are stated at cost less provision for the permanent diminution in value. |
A separate income statement for the parent company has not been presented in accordance with Section 408 of the Companies Act 2006. The result of the parent company dealt with in these financial statements is disclosed on page 8. The individual accounts of ALD Holdings Limited have also taken the exemption available from the requirement to present a statement of cash flows. |
Turnover |
Turnover represents the fair value of all goods sold during the year, less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as obsolescence, have been transferred to the customer. |
For long term contracts, turnover represents the fair value of work done in the year and is determined by reference to the stage of completion of each contract. The stage of completion is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Investment property |
Investment property is measured initially at cost, which includes the purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in the income statement. |
Stocks |
Stock is valued at the lower of cost and net realisable value after making due allowances for obsolete and slow-moving stocks. |
Cost comprises purchase price or direct production cost together with attributable overheads. |
Amounts recoverable on long term contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account. |
A.L.D. Holdings Limited (Registered number: 04207802) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts and finance leases are capitalised in the balance sheet. Those under hire purchase contracts are depreciated over the useful economic lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss accounts so as to produce constant periodic rates of charge on the net obligations outstanding in each period. |
All other leases are operating leases and the annual rentals are charged to the profit and loss account on straight line basis over the lease term. |
Employee benefits |
Short term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred. The pension charge represents the amount payable by the company to the fund in respect of the year. The assets of the scheme are held separately from those of the company and group in an independently administered fund. |
3. | EMPLOYEES AND DIRECTORS |
2023 | 2022 |
£ | £ |
Wages and salaries | 2,247,253 | 1,885,976 |
Social security costs | 270,773 | 222,739 |
Other pension costs | 64,098 | 55,157 |
2,582,124 | 2,163,872 |
The average number of employees during the year was as follows: |
2023 | 2022 |
Production staff | 11 | 12 |
Administration | 27 | 24 |
A.L.D. Holdings Limited (Registered number: 04207802) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 March 2023 |
3. | EMPLOYEES AND DIRECTORS - continued |
2023 | 2022 |
£ | £ |
Directors' remuneration | 670,969 | 517,286 |
Directors' pension contributions to money purchase schemes | 23,173 | 16,154 |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes | 2 | 1 |
Information regarding the highest paid director is as follows: |
2023 | 2022 |
£ | £ |
Emoluments etc | 235,055 | 178,308 |
Pension contributions to money purchase schemes | 16,154 | 16,154 |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2023 | 2022 |
£ | £ |
Hire of plant and machinery | 152,618 | 474,190 |
Other operating leases | 121,686 | 102,616 |
Depreciation - owned assets | 54,456 | 59,678 |
Auditors' remuneration | 18,750 | 17,500 |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2023 | 2022 |
£ | £ |
Hire purchase | 3,005 | 1,783 |
Dividends paid on shares |
categorised as debt | 12,600 | 12,600 |
15,605 | 14,383 |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2023 | 2022 |
£ | £ |
Current tax: |
UK corporation tax | 79,845 | 11,015 |
Adjustments in respect of |
previous periods | (9,131 | ) | 10,486 |
Total current tax | 70,714 | 21,501 |
Deferred tax | - | 22,800 |
Tax on profit | 70,714 | 44,301 |
A.L.D. Holdings Limited (Registered number: 04207802) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 March 2023 |
6. | TAXATION - continued |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
2023 | 2022 |
£ | £ |
Profit before tax | 392,944 | 285,850 |
Profit multiplied by the standard rate of corporation tax in the UK of 19 % (2022 - 19 %) |
74,659 |
54,312 |
Effects of: |
Expenses not deductible for tax purposes | 2,516 | (20,205 | ) |
Capital allowances in excess of depreciation | - | (23,092 | ) |
Depreciation in excess of capital allowances | 2,670 | - |
Adjustments to tax charge in respect of previous periods | (9,131 | ) | 10,486 |
Movement in deferred tax | - | 22,800 |
Total tax charge | 70,714 | 44,301 |
7. | 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. |
8. | TANGIBLE FIXED ASSETS |
Group |
Improvements | Fixtures |
to | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2022 | 34,757 | 195,529 | 136,526 | 161,828 | 528,640 |
Additions | 9,928 | 4,355 | 9,363 | 21,495 | 45,141 |
At 31 March 2023 | 44,685 | 199,884 | 145,889 | 183,323 | 573,781 |
DEPRECIATION |
At 1 April 2022 | 8,341 | 142,012 | 99,193 | 69,081 | 318,627 |
Charge for year | 1,787 | 14,468 | 9,640 | 28,561 | 54,456 |
At 31 March 2023 | 10,128 | 156,480 | 108,833 | 97,642 | 373,083 |
NET BOOK VALUE |
At 31 March 2023 | 34,557 | 43,404 | 37,056 | 85,681 | 200,698 |
At 31 March 2022 | 26,416 | 53,517 | 37,333 | 92,747 | 210,013 |
The net book value of tangible fixed assets includes an amount of £56,404 (2022 - £74,355) in respect of assets held under finance leases or hire purchase contracts. Depreciation charged on these assets during the year amount to £18,802 (2022 - £24,785). |
A.L.D. Holdings Limited (Registered number: 04207802) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 March 2023 |
9. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiaries |
The A.L.D PLastering Company Limited |
Registered office: England and Wales |
Nature of business: Facades, Screeding, Plastering and Dry Lining |
% |
Class of shares: | holding |
Ordinary | 100.00 |
ALD Facades Limited |
Registered office: England and Wales |
Nature of business: Facades contractors |
% |
Class of shares: | holding |
Ordinary | 100.00 |
10. | INVESTMENT PROPERTY |
Group |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
and 31 March 2023 | 375,000 |
NET BOOK VALUE |
At 31 March 2023 | 375,000 |
At 31 March 2022 | 375,000 |
A professional value of the investment property was performed on 2 November 2022 by Jane Thorne Property Services Limited on an open market value. |
On a historical cost basis, the investment property would have been included at an original cost of £186,862. |
A.L.D. Holdings Limited (Registered number: 04207802) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 March 2023 |
10. | INVESTMENT PROPERTY - continued |
Company |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
11. | STOCKS |
Group |
2023 | 2022 |
£ | £ |
Raw materials | 26,250 | 26,250 |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Trade debtors | 3,164,130 | 2,310,377 |
Amounts owed by group undertakings | - | - |
Other debtors | 8,543 | 57,355 |
VAT | 213,962 | 117,701 |
Prepayments | 183,771 | 139,177 |
3,570,406 | 2,624,610 |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Hire purchase contracts (see note 16) | 31,630 | 34,410 |
Trade creditors | 1,625,842 | 902,351 |
Tax | 79,845 | 11,015 |
Social security and other taxes | 174,332 | 114,586 |
Other creditors | 95,781 | 191,532 |
Directors' loan accounts | 67,307 | 78,095 | - | - |
Accruals and deferred income | 681,880 | 400,553 |
2,756,617 | 1,732,542 |
The hire purchase creditor is secured on the assets to which it relates. |
A.L.D. Holdings Limited (Registered number: 04207802) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 March 2023 |
14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group |
2023 | 2022 |
£ | £ |
Preference shares (see note 15) | 180,000 | 180,000 |
Hire purchase contracts (see note 16) | 40,535 | 46,121 |
220,535 | 226,121 |
The hire purchase creditor is secured on the assets to which it relates. |
15. | LOANS |
An analysis of the maturity of loans is given below: |
Group |
2023 | 2022 |
£ | £ |
Amounts falling due between one and two | years: |
Preference shares | 180,000 | 180,000 |
16. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Group |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year | 31,630 | 34,410 |
Between one and five years | 40,535 | 46,121 |
72,165 | 80,531 |
Group |
Non-cancellable | operating leases |
2023 | 2022 |
£ | £ |
Within one year | 124,166 | 80,205 |
Between one and five years | 223,490 | 45,906 |
347,656 | 126,111 |
17. | PROVISIONS FOR LIABILITIES |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Deferred tax | 31,663 | 31,663 | 31,663 | 31,663 |
A.L.D. Holdings Limited (Registered number: 04207802) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 March 2023 |
17. | PROVISIONS FOR LIABILITIES - continued |
Group |
Deferred |
tax |
£ |
Balance at 1 April 2022 | 31,663 |
Balance at 31 March 2023 | 31,663 |
Company |
Deferred |
tax |
£ |
Balance at 1 April 2022 |
Balance at 31 March 2023 |
18. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary shares | £1 | 100 | 100 |
19. | RESERVES |
Profit and loss account - represents cumulative profits and losses. |
Revaluation reserve - this represents increases or decreases in the valuation of properties. |