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REGISTERED NUMBER: 01158835 (England and Wales)






















Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 March 2023

for

The A.L.D. Plastering Company Limited

The A.L.D. Plastering Company Limited (Registered number: 01158835)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 8

Balance Sheet 9

Notes to the Financial Statements 10


The A.L.D. Plastering Company Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs S J Smith
Mrs E Smith
J L Smith
T D Smith





SECRETARY: Mrs E Smith





REGISTERED OFFICE: Unit 9 Hoyle Road
Calverton
Nottingham
NG14 6QL





REGISTERED NUMBER: 01158835 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
Alexandra House
43 Alexandra St
Nottingham
Nottinghamshire
NG5 1AY

The A.L.D. Plastering Company Limited (Registered number: 01158835)

Strategic Report
for the Year Ended 31 March 2023

The directors present their strategic report for the year ended 31 March 2023.

REVIEW OF BUSINESS
Turnover has decreased by £2,363k, and gross margin has increased to 20% (2022 - 17%).

The directors are also pleased to report that their future order book is strong and they hope to maintain levels of activity in 2023/24.

PRINCIPAL RISKS AND UNCERTAINTIES
The key business risks and uncertainties affecting the company 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 company's ability to retain key employees helps to achieve this.

The company 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 decreased from £11,516,933 to £9,153,746 with gross margins increasing to 20% (2022 - 17%). Overheads remain well controlled resulting in a net profit before taxation of £165,472.

The board also considers key balance sheet areas in order to understand the financial position of the company. Overall net assets have increased by £134,038.

Cash at bank remains healthy, and the board are satisfied that the company can continue to pay its debts as they fall due for the foreseeable future.

ON BEHALF OF THE BOARD:





J L Smith - Director


24 November 2023

The A.L.D. Plastering Company Limited (Registered number: 01158835)

Report of the Directors
for the Year Ended 31 March 2023

The directors present their report with the financial statements of the company for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of contractors in the fields of plastering, screeding and dry lining for commercial contracts.

DIVIDENDS
Particulars of dividends paid during the year are detailed in note 8 to the financial statements.

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

Mrs S J Smith
Mrs E Smith
J L Smith
T D Smith

FINANCIAL INSTRUMENTS
Preference shares are accounted for as a liability and dividends on those shares are recorded as an expense.

QUALIFYING INDEMNITY PROVISION
The company takes out indemnity insurance on behalf of the directors.

DISCLOSURE IN THE STRATEGIC REPORT
The directors have prepared a review of the business, together with a summary of the principal risks and uncertainties affecting the company, and these are detailed within the Strategic Report

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The A.L.D. Plastering Company Limited (Registered number: 01158835)

Report of the Directors
for the Year Ended 31 March 2023


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 company'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 company's auditors are aware of that information.

ON BEHALF OF THE BOARD:




J L Smith - Director


24 November 2023

Report of the Independent Auditors to the Members of
The A.L.D. Plastering Company Limited

Opinion
We have audited the financial statements of The A.L.D. Plastering Company Limited (the 'company') for the year ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and 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 company's affairs as at 31 March 2023 and of its 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 company 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 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 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 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 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
The A.L.D. Plastering Company Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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; or
- the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

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 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 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
The A.L.D. Plastering Company 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.




Kevin Shaw BSc (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
Alexandra House
43 Alexandra St
Nottingham
Nottinghamshire
NG5 1AY

24 November 2023

The A.L.D. Plastering Company Limited (Registered number: 01158835)

Statement of Income and
Retained Earnings
for the Year Ended 31 March 2023

2023 2022
Notes £    £   

TURNOVER 3 9,153,746 11,516,933

Cost of sales 7,269,772 9,523,543
GROSS PROFIT 1,883,974 1,993,390

Administrative expenses 1,946,633 2,108,069
(62,659 ) (114,679 )

Other operating income 241,415 337,934
OPERATING PROFIT 5 178,756 223,255

Interest receivable and similar income 2,321 574
181,077 223,829

Interest payable and similar expenses 6 15,605 14,383
PROFIT BEFORE TAXATION 165,472 209,446

Tax on profit 7 31,434 21,501
PROFIT FOR THE FINANCIAL YEAR 134,038 187,945

Retained earnings at beginning of year 1,600,110 1,412,165

RETAINED EARNINGS AT END OF YEAR 1,734,148 1,600,110

The A.L.D. Plastering Company Limited (Registered number: 01158835)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 168,726 196,767
Investments 9 100 100
168,826 196,867

CURRENT ASSETS
Stocks 10 26,250 26,250
Debtors 11 3,447,813 2,729,448
Cash at bank and in hand 257,109 531,004
3,731,172 3,286,702
CREDITORS
Amounts falling due within one year 12 1,959,545 1,657,238
NET CURRENT ASSETS 1,771,627 1,629,464
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,940,453

1,826,331

CREDITORS
Amounts falling due after more than one year 13 206,205 226,121
NET ASSETS 1,734,248 1,600,210

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 1,734,148 1,600,110
SHAREHOLDERS' FUNDS 1,734,248 1,600,210

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


The A.L.D. Plastering Company Limited (Registered number: 01158835)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

The A.L.D. Plastering Company 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 Company 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.

The financial statements are prepared in sterling, which is the functional currency of the entity rounded to the nearest £.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effects on amounts recognised in the financial statements.

Accounting for long term contracts - revenue and profit is estimated on contracts that are not complete at the year end by reference to stage of completion and expected profit.

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

For long term contracts, turnover represents the value of work done in the year and is determined by reference to the stage of completion of each contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures, fittings and equipment - 20% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving stock.

Cost comprises purchase price or direct production cost together with attributable overheads.

The A.L.D. Plastering Company Limited (Registered number: 01158835)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

The A.L.D. Plastering Company Limited (Registered number: 01158835)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. TURNOVER

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

An analysis of turnover by class of business is given below:

2023 2022
£    £   
Construction contracts 9,153,746 11,516,933
9,153,746 11,516,933

An analysis of turnover by geographical market is given below:

2023 2022
£    £   
United Kingdom 9,153,746 11,516,933
9,153,746 11,516,933

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 1,771,446 1,885,976
Social security costs 209,299 222,739
Other pension costs 56,315 55,157
2,037,060 2,163,872

The average number of employees during the year was as follows:
2023 2022

Production 11 12
Administration 15 24
26 36

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

The A.L.D. Plastering Company Limited (Registered number: 01158835)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Hire costs 116,048 466,792
Other operating leases 97,443 106,999
Depreciation - owned assets 44,106 55,346
Auditors' remuneration 15,250 14,750

6. 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

7. 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 40,565 11,015
Adjustments in respect of
previous periods (9,131 ) 10,486

Tax on profit 31,434 21,501

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 165,472 209,446
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2022 - 19%)

31,440

39,795

Effects of:
Expenses not deductible for tax purposes 2,515 2,596
Capital allowances in excess of depreciation - (22,403 )
Depreciation in excess of capital allowances 6,610 -
Utilisation of tax losses - (8,973 )
Adjustments to tax charge in respect of previous periods (9,131 ) 10,486
Total tax charge 31,434 21,501

The A.L.D. Plastering Company Limited (Registered number: 01158835)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. TANGIBLE FIXED ASSETS
Fixtures,
Improvements fittings
to Plant and and Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 34,757 194,063 131,864 146,561 507,245
Additions 9,928 432 5,705 - 16,065
At 31 March 2023 44,685 194,495 137,569 146,561 523,310
DEPRECIATION
At 1 April 2022 8,341 141,646 98,089 62,402 310,478
Charge for year 1,787 13,212 8,067 21,040 44,106
At 31 March 2023 10,128 154,858 106,156 83,442 354,584
NET BOOK VALUE
At 31 March 2023 34,557 39,637 31,413 63,119 168,726
At 31 March 2022 26,416 52,417 33,775 84,159 196,767

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

Motor vehicles - £40,283 (2022 - £74,355).

9. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 100
NET BOOK VALUE
At 31 March 2023 100
At 31 March 2022 100

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

ALD Facades Limited
Registered office: Unit 9 Hoyle Road, Calverton, Nottingham, NG14 6QL
Nature of business: External facade systems
%
Class of shares: holding
Ordinary 100.00

10. STOCKS
2023 2022
£    £   
Raw materials 26,250 26,250

The A.L.D. Plastering Company Limited (Registered number: 01158835)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,065,269 2,038,760
Amounts owed by group undertakings 1,099,759 493,820
Other debtors 8,543 7,538
VAT 96,006 52,559
Prepayments 178,236 136,771
3,447,813 2,729,448

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 15) 19,916 34,410
Trade creditors 969,297 823,206
Amounts owed to group undertakings 41,670 16,213
Tax 40,565 11,015
Social security and other taxes 150,739 114,586
Other creditors 71,571 181,660
Directors' loan accounts 67,307 78,095
Accruals and deferred income 598,480 398,053
1,959,545 1,657,238

The hire purchase creditor is secured on the assets to which it relates.

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Preference shares (see note 14) 180,000 180,000
Hire purchase contracts (see note 15) 26,205 46,121
206,205 226,121

The hire purchase creditor is secured on the assets to which it relates.

14. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due between one and two years:
Preference shares 180,000 180,000


The A.L.D. Plastering Company Limited (Registered number: 01158835)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 19,916 34,410
Between one and five years 26,205 46,121
46,121 80,531

Non-cancellable operating leases
2023 2022
£    £   
Within one year 98,349 65,765
Between one and five years 193,135 24,163
291,484 89,928

16. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 46,121 80,531

Hire purchase contract liabilities are secured against the assets to which they relate.

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

18. RESERVES

Profit and loss account - represents cumulative profits and losses.

19. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions available from disclosing related party transactions with other group companies on the grounds that it is a wholly owed subsidiary.

During the year the company rented property from ALD Plastering Executive Pension Scheme at an annual rent of £27,009 (2022 - £42,250). At the year end the pension scheme owed the company £5,537 (2022 - £5,537).

At the year end an amount of £1,000 (2022 - £1,000) was owed by the Trustees of the Smith Family 2001 Discretionary Settlement, which owns the whole of the issued share capital of ALD Holdings Limited.

The A.L.D. Plastering Company Limited (Registered number: 01158835)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

20. ULTIMATE CONTROLLING PARTY

The company is wholly owned by its parent company, ALD Holdings Limited, a company incorporated in England and Wales.

ALD Holdings Limited prepares the only consolidated accounts in the group that incorporate the results of The ALD Plastering Company Limited. Consolidated accounts for this company are available from Companies House.

The registered office of ALD Holdings Limited is that of The ALD Plastering Company Limited.