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REGISTERED NUMBER: 11717113 (England and Wales)













GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

ASTON GROUP HOLDINGS LIMITED

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 7

Report of the Independent Auditors 10

Consolidated Statement of Comprehensive Income 14

Consolidated Balance Sheet 15

Company Balance Sheet 16

Consolidated Statement of Changes in Equity 17

Company Statement of Changes in Equity 18

Consolidated Cash Flow Statement 19

Notes to the Consolidated Cash Flow Statement 20

Notes to the Consolidated Financial Statements 22


ASTON GROUP HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: P S Glencross
J Glencross
L Glencross
J Butcher
S L Hughes





REGISTERED OFFICE: Aston House
Boulton Road
Stevenage
Hertfordshire
SG1 4QX





REGISTERED NUMBER: 11717113 (England and Wales)





AUDITORS: Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2023

The directors present their strategic report of the company and the group for the year ended 31 July 2023.

REVIEW OF BUSINESS
The statement of comprehensive income is set out on page 13 and shows a profit before tax of £3,156,188 for the period. Turnover for the period amounted to £86,333,190.

The group continues to increase its sales, with 7.5% growth on the previous year, although cost inflation caused profits to reduce in the year, but EBITDA remained in line with prior year reflecting the impact of interest rate increases and investment in the estate.
The group's core strategy delivers growth through increased sales and performance, plus expansion of outlets. The group operates a mix of freehold and leasehold properties, providing a strong framework for expansion.

During the period, the group opened three sites in Tonbridge, Sheffield and Wellingborough, and closed one site in Oxford, taking the total number of sites to 132. The group expects to continue to expand in the next financial year.


ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2023

PRINCIPAL RISKS AND UNCERTAINTIES
The management of the business and execution of the group's strategy are subject to a number of risks. The principal risks and uncertainties affecting the group are considered to relate to competition from both national and independent retailers, employee retention, product availability and cost inflation.

Competition remains fierce, which ultimately benefits the customer through lower pricing and reduced margins. Increasing the group's market share through expansion and customer retention enables the group to continue to grow.

Recruiting and retaining the best staff continues to be a key focus of the group. This year has been a challenge, albeit not unique to this industry, but the group does believe the challenge is starting to ease a little. The group is investing in its staff through wage increases and the introduction of enhanced employee benefits.
The group views open discussion with employees as vital to understanding how it can continually improve, with such communication taking place via site visits, face to face meetings and written notices.
Recognition of skills continues, with assistance towards further education and qualifications being offered.
Since having obtained industry standard training recognition, the group has continued to sponsor many applicants to the government-controlled MOT authorised examiner status. This qualification brings with it career growth, employee financial reward and greater skills knowledge. The group continues to pro-actively increase the number of people gaining the MOT qualification.
The group has recently increased the number of apprentices after two successful cohorts and views this as a future growth opportunity to recruit, train and promote high quality personnel.

To mitigate the risk of product availability, the group continues to have available a large number of authorised suppliers to enable a wider range of products to be made available to the group's customers. This has resulted in multiple suppliers for similar products, to ensure that the mix of products meet the group's customer demands. Each supplier is important to the group for providing effective, timely and accurate product supply to the local centre.
The group works hard to ensure timely delivery to our sites to meet customer demand and offers customers same day options for both walk-in and online customers.

Cost inflation has had a large impact on profit during the year, including wages, business rates, direct product costs and interest rates. While the labour market may not be as challenging as previous years, the wages being offered by competitors are increasing although the group has seen a number of staff return as they realise the dream they were sold was not completely accurate.
The group has been impacted during the year by a material increase in business rates and continues to challenge these as it believes the increases applied are unreasonable.
The group is in the middle of a three-year energy contract which has helped to avoid further cost increases, and has recently committed to an additional twelve-month supply contract, guaranteeing the purchase price until October 2025.


ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2023

SECTION 172(1) STATEMENT
Section 172 of the Companies Act 2006 requires a director of a company to act in the way he or she considers, in good faith, would most likely promote the success of the company for the benefit of its members as a whole. In this respect the Directors have had regard, amongst other matters, to the:

- Likely consequences of any decisions in the long-term;
- Interests of the Company's employees;
- Need to foster the Company's business relationships with suppliers, customers and others;
- Impact of the Company's operations on the community and environment;
- Desirability of the Company maintaining a reputation for high standards of business conduct;
and
- Need to act fairly as between members of the Company.

The Directors seek to ensure that their decision making process not only takes into account the Company's purpose, vision and values, together with its strategic priorities, but also reflects, as far as practical and possible, the interests of all stakeholders.

KEY PERFORMANCE INDICATORS
The group manages the business by reference to key performance indicators. Each trading outlet is
recognised as a profit centre and is measured accordingly. Due to the varied nature of the business, the
performance indicators will differ greatly from outlet to outlet, therefore individual monitoring is paramount and is measured daily.

Competent management reporting tools are in place to provide essential current, timely reporting in a clear
and precise manner. The principal indicators used by the group include, but are not limited to;
1. Turnover - total turnover and like-for-like turnover
2. Gross Margin - cash and percentage of sales
3. EBITDA
4. Wages and Employees - wages as a percentage of sales and number of employees
The group is in the process of introducing more operational KPIs and expect to use these more during the coming year.

2022/23 vs Prior Year
Turnover £86,333,190 7.5%
Gross Margin £54,145,835 9.4%
EBITDA £6,646,121 10.0%
Wages £28,853,301 10.2%
Employee Numbers 843 7.4%


ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2023

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The group's operations expose it to a variety of financial risks that include the effects of price risk, credit risk, liquidity risk and interest rate cash flow risk. The group has in place policies and procedures that seek to limit the potentially adverse effects on the financial performance of the group of such risks. These policies are set by the directors.

The group does not currently use derivative financial instruments to manage interest rate risks, but it has been reviewing this since the period end due to the increases seen in interest rates.

Price risk
Due to the market the group operates in, the group is exposed to price risk from its suppliers and competitors. However, given the size of the group's operations and in addition to the actions identified above, the group is able to manage the potential exposure through supplier agreements and rebate mechanisms.

Credit risk
The majority of the group's sales are not made on credit. However, for those sales made on credit, appropriate credit checks on customers who apply for credit accounts are made prior to the sale. The amount of any individual customer is subject to a limit and the exposure of the group as a whole is mitigated by multiple credit control procedures and the diverse nature of the customer base.

Liquidity risk
Liquidity risk is the risk that the group will encounter difficulty in meeting obligations associated with its financial liabilities. The risk is mitigated as the group has sufficient cash resources available to it through either its own funds or access to further bank facilities.

Brexit
The group continues to monitor the impact of Brexit and as shown in note 4 the group derives all of its income from within the UK, and primarily purchases from UK suppliers. Where suppliers bring goods into the UK, the group have discussed with their supplier their stockholding levels and continuity of supply such that the group anticipates that there will be no significant disruption to the supply chain. Additionally, the group is able to source products from different suppliers and is also not dependent on any one brand of product.

Covid-19
The group remained open and traded throughout the COVID-19 pandemic and was classed as an "essential service" by the UK Government. Following the government's decision to extend MOT expiry dates during the first lockdown, the shape of the group's turnover shifted somewhat from April, May and June into August, September and October. The group has seen the shape of its turnover continue to return to pre-pandemic phasing over the last couple of years and expects to see one or perhaps two more years of realignment.

Interest rate cash flow risk
The group has interest-bearing liabilities in the form of a Revolving Credit Facility and a Term Loan from the group's bankers which accrue interest at floating rates of interest.
At the end of the period, the group was not fully drawn on its revolving credit facility and expects the Term Loan to be fully repaid during the next financial year.


ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2023


Engagement with Employees
Our employees are a key part of our operations. We share with them our strategy and actively engage with employees on significant decisions that may impact them. This is achieved through activities such as regular site visits, management and supervisor meetings, and company notices.

Engagement with Suppliers, Customers and Others
Our customers and suppliers are central to our business. We engage and build relationships via face to face interactions, events, promotional activity and visits to our sites. We constantly strive to improve working relationships with both suppliers and customers to ensure our continued strength and growth. We feel it is very important to have a good relationship with all our partners, including our suppliers, landlords, tenants and neighbours.

Future developments
The company continues to achieve growth by seeking and acquiring more sites. Post year end there are more
sites in the pipeline to facilitate this growth and the group are always interested in new sites in prime locations.

Employee involvement
The company's policy is to consult and discuss the interests of employees through site visits, staff meetings and discussions.

Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the 's company's performance.

Disabled persons
The company's policy is to recruit disabled workers for those vacancies that they are able to fill. All necessary assistance with initial training courses is given. Once employed, a career plan is developed so as to ensure suitable opportunities for each disabled person. Arrangements are made, wherever possible, for retraining employees who have become disabled, to enable them to perform work identified as appropriate to their aptitudes and abilities.

ON BEHALF OF THE BOARD:





S L Hughes - Director


27 November 2023

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2023

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

DIVIDENDS
Dividends distributed for the period ended 31 July 2023 amounted to £2,850,000 (2022: £2,375,000) The directors do not recommend the payment of a final dividend.

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

P S Glencross
J Glencross
L Glencross
J Butcher
S L Hughes


ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2023

STREAMLINED ENERGY AND CARBON REPORTING
2023 2022
UK energy use kWh KWh's KWh's
Gas 404,053 553,175
Electricity 4,252,216 4,228,612
Transport Fuel 918,919 1,005,120
Expensed Mileage Fuel 215,168 267,874
5,790,356 6,054,781

Associated Greenhouse gas emissions tC02e tCO2e tC02e
Emissions from combustion of gas 74.47 101.36
Emissions from purchased electricity 880.52 817.73
Emissions from combustion of transport fuel 229.97 242.44
Emissions from combustion of expensed mileage fuel 52.17 65.70
1,237.14 1,227.23

Intensity ratio
Sales revenue £1k 86,333.19 80,289.76
Tonnes CO2 Equivalent 1,237.14 1,227.23
Tonnes of CO2 per total £1k sales revenue 1.43% 1.53%

Methodology
All operations are UK Based, none are offshore or global.

Consumption has been calculated using the following assumptions and data:
Gas - Meter readings at start and end of period to generate kWh usage.

Electricity
- Summation of smart meter and meter readings at start and end of reporting period to
generate kWh usage
Fuel used for
transport
- Company car mileage data was categorised by car size and fuel type. DEFRA
conversion factors were then applied to calculate both energy use and emissions on a
per mile basis.

Gas usage has reduced for the third consecutive year. Electricity consumption increased by less than 0.5% but emissions increased by 7% as a result of a change to the DEFRA emissions factor. Fuel used in company vehicles and expenses mileage have both reduced for the third consecutive year.

Energy Efficiency Action
The group is in a period of reviewing the rollout of new heating and lighting solutions. Should this continue to demonstrate a reduction in energy consumption then the group expects to commit to further investment in this area.
The group continues to monitor overnight energy consumption with daily alerts sent to its centres to make them aware of high consumption so action can be taken.
As mentioned already in this report, the group is in the middle of a 3-year energy contract and has recently committed to an additional 12 months, guaranteeing the purchase price until October 2025.


ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2023

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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;
- state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements;
- 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, Watson Associates (Audit Services) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S L Hughes - Director


27 November 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ASTON GROUP HOLDINGS LIMITED

Opinion
We have audited the financial statements of Aston Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2023 which comprise the Consolidated Statement of 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 July 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ASTON GROUP HOLDINGS LIMITED


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.

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 nine, 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
ASTON GROUP 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:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to employment laws and we considered the extent to which non-compliance might have a material effect on the financial statements.

We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to achieve desired financial results and the manipulation of exceptional items and management bias in accounting estimates.

Audit procedures performed by the engagement team included:

- enquiries with management, including consideration of known or suspected instances of fraud and non-compliance with laws and regulations and examining supporting calculations where a provision has been made in respect of these;
- reading key correspondence with regulatory authorities in relation to compliance with certain employment laws;
- understanding and evaluating the design and implementation of management's controls designed to prevent and detect irregularities;
- challenging assumptions and judgements made by management in their significant accounting estimates, in particular in relation to valuation of investment property, impairment of investments in subsidiaries and the measurement and classification of exceptional items;
- identifying and testing journal entries, in particular any journal entries posted with unusual account combinations and postings by unusual users.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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
ASTON GROUP 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.




Stephen James Moore (Senior Statutory Auditor)
for and on behalf of Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

27 November 2023

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2023

2023 2022
Notes £    £   

TURNOVER 3 86,333,190 80,289,763

Cost of sales (32,187,355 ) (30,781,090 )
GROSS PROFIT 54,145,835 49,508,673

Administrative expenses (50,643,133 ) (45,433,347 )
3,502,702 4,075,326

Other operating income 667,337 663,024
OPERATING PROFIT 5 4,170,039 4,738,350

Interest receivable and similar income 111 2,695
4,170,150 4,741,045

Interest payable and similar expenses 7 (1,013,962 ) (632,005 )
PROFIT BEFORE TAXATION 3,156,188 4,109,040

Tax on profit 8 (471,030 ) (723,680 )
PROFIT FOR THE FINANCIAL YEAR 2,685,158 3,385,360

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

2,685,158

3,385,360

Profit attributable to:
Owners of the parent 2,685,158 3,385,360

Total comprehensive income attributable to:
Owners of the parent 2,685,158 3,385,360

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

CONSOLIDATED BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 11 6,576,433 6,904,637
Tangible assets 12 19,747,625 19,735,122
Investments 13 - -
Investment property 14 871,945 871,945
27,196,003 27,511,704

CURRENT ASSETS
Stocks 15 2,130,134 2,483,071
Debtors 16 6,268,290 5,307,987
Cash at bank and in hand 2,853,688 3,650,756
11,252,112 11,441,814
CREDITORS
Amounts falling due within one year 17 (24,138,240 ) (23,551,379 )
NET CURRENT LIABILITIES (12,886,128 ) (12,109,565 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,309,875

15,402,139

CREDITORS
Amounts falling due after more than one
year

18

(12,279,963

)

(13,259,620

)

PROVISIONS FOR LIABILITIES 22 (677,411 ) (625,176 )
NET ASSETS 1,352,501 1,517,343

CAPITAL AND RESERVES
Called up share capital 23 99,000 99,000
Retained earnings 24 1,253,501 1,418,343
SHAREHOLDERS' FUNDS 1,352,501 1,517,343

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by:





S L Hughes - Director


ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

COMPANY BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 - -
Investments 13 8,297,865 8,297,865
Investment property 14 - -
8,297,865 8,297,865

CURRENT ASSETS
Cash at bank 7,138 3,582

CREDITORS
Amounts falling due within one year 17 (8,152,911 ) (6,731,699 )
NET CURRENT LIABILITIES (8,145,773 ) (6,728,117 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,092

1,569,748

CREDITORS
Amounts falling due after more than one
year

18

-

(1,457,321

)
NET ASSETS 152,092 112,427

CAPITAL AND RESERVES
Called up share capital 23 99,000 99,000
Retained earnings 24 53,092 13,427
SHAREHOLDERS' FUNDS 152,092 112,427

Company's profit for the financial year 2,889,665 2,350,916

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by:





S L Hughes - Director


ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 August 2021 100,000 407,983 507,983

Changes in equity
Issue of share capital (1,000 ) - (1,000 )
Dividends - (2,375,000 ) (2,375,000 )
Total comprehensive income - 3,385,360 3,385,360
Balance at 31 July 2022 99,000 1,418,343 1,517,343

Changes in equity
Dividends - (2,850,000 ) (2,850,000 )
Total comprehensive income - 2,685,158 2,685,158
Balance at 31 July 2023 99,000 1,253,501 1,352,501

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 August 2021 100,000 37,511 137,511

Changes in equity
Issue of share capital (1,000 ) - (1,000 )
Dividends - (2,375,000 ) (2,375,000 )
Total comprehensive income - 2,350,916 2,350,916
Balance at 31 July 2022 99,000 13,427 112,427

Changes in equity
Dividends - (2,850,000 ) (2,850,000 )
Total comprehensive income - 2,889,665 2,889,665
Balance at 31 July 2023 99,000 53,092 152,092

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 7,218,283 5,152,362
Interest paid (941,427 ) (572,033 )
Interest element of hire purchase
payments paid

(75,615

)

(55,604

)
Finance costs paid - (4,368 )
Interest received on overpaid tax 3,080 -
Tax paid (554,353 ) (1,251,785 )
Net cash from operating activities 5,649,968 3,268,572

Cash flows from investing activities
Purchase of tangible fixed assets (2,296,586 ) (5,253,795 )
Sale of tangible fixed assets 135,758 2,121,204
Interest received 111 2,695
Net cash from investing activities (2,160,717 ) (3,129,896 )

Cash flows from financing activities
New loans in year 250,000 1,000,000
Loan repayments in year (1,967,321 ) (2,040,000 )
New Hire Purchases loans in the year 389,038 1,243,853
Capital repayments in year (94,115 ) (674,917 )
Amount withdrawn by directors (13,921 ) (3,456,134 )
Equity dividends paid (2,850,000 ) (2,375,000 )
Net cash from financing activities (4,286,319 ) (6,302,198 )

Decrease in cash and cash equivalents (797,068 ) (6,163,522 )
Cash and cash equivalents at
beginning of year

2

3,650,756

9,814,278

Cash and cash equivalents at end of
year

2

2,853,688

3,650,756

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 3,156,188 4,109,040
Depreciation charges 2,557,209 1,994,382
Profit on disposal of fixed assets (80,680 ) (674,773 )
Finance costs 1,013,962 632,005
Finance income (111 ) (2,695 )
6,646,568 6,057,959
Decrease/(increase) in stocks 352,937 (184,884 )
Increase in trade and other debtors (960,303 ) (324,821 )
Increase/(decrease) in trade and other creditors 1,179,081 (395,892 )
Cash generated from operations 7,218,283 5,152,362

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 July 2023
31.7.23 1.8.22
£    £   
Cash and cash equivalents 2,853,688 3,650,756
Year ended 31 July 2022
31.7.22 1.8.21
£    £   
Cash and cash equivalents 3,650,756 9,814,278


ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2023

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.8.22 Cash flow At 31.7.23
£    £    £   
Net cash
Cash at bank and in hand 3,650,756 (797,068 ) 2,853,688
3,650,756 (797,068 ) 2,853,688
Debt
Finance leases (1,449,036 ) (294,923 ) (1,743,959 )
Debts falling due within 1 year (2,040,000 ) 510,000 (1,530,000 )
Debts falling due after 1 year (12,457,321 ) 1,207,321 (11,250,000 )
(15,946,357 ) 1,422,398 (14,523,959 )
Total (12,295,601 ) 625,330 (11,670,271 )

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Aston Group 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.

Basis of consolidation
The group financial statements consolidate the financial statements of the company and its subsidiary undertakings, all of which are made up to 31 July 2023. All intra-group profits and transactions are eliminated on consolidation.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements have had to be made by management in preparing these financial
statements.
There were no key assumptions made concerning the future, and other key sources of estimation
uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the
carrying amounts of assets and liabilities within the next financial year.

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

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

The group recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the goods; the amount of revenue can be measured reliably; and when it is probable that future economic benefits will flow to the entity.

Interest income
Interest income is recognised using the effective interest method.

Dividend income
Dividend income is recognised when the right to receive payment is established.

Rental income
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease unless the lease payments are structured to increase in line with expected general inflation in which case the income is recognised as revenue in accordance with the expected payments.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Goodwill was generated via the buyout of a share in the company, with the sole purpose of ensuring that ownership of the business was retained within the family.

The family has run the business since its incorporation in 1979 and intends to continue to run it as a family business for many more years.

Therefore, amortisation of the Goodwill over a 20 year period is more reasonable than 10 years.

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

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.
Freehold Property - Held at cost from 01/08/19 (Previously 2% on cost)
Long Leasehold - in accordance with the property
Plant and Machinery - straight line over 6 years
Motor Vehicles - 25% on cost

Revaluation of tangible fixed assets
Individual freehold and leasehold properties were carried at fair value on transition to FRS 102 less any subsequent accumulated depreciation and subsequent accumulated losses. Revaluations were undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.

Fair values were determined from market-based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in the Statement of comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

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.

Investment properties are properties held to earn rentals and/or capital appreciation. Investment
properties are initially measured at cost including transaction costs. Subsequently, investment
properties whose fair value can be measured reliably without undue cost or effort on an on-going
basis are measured at fair value. Gains and losses arising from changes in the fair value of
investment properties are included in profit or loss in the period in which they arise.

Investment properties whose fair value cannot be measured reliably without undue cost or effort on
an on-going basis are included in plant, property and equipment at cost less accumulated
depreciation and accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, being the estimated selling price less costs to disposal, after making due allowance for obsolete and slow moving items. Last cost is used to approximate cost.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to disposal. The impairment loss is recognised immediately in profit or loss, in the Statement of comprehensive income.

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.
Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

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.

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

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

Turnover comprises revenue recognised by the group in respect of goods and services supplied during the year, excluding VAT and trade discounts. Revenue is recognised when the risks and rewards of ownership transfer which is typically when the service is completed, or the goods provided.

Property rental income is recognised by the group on an accrual basis, spread over the life of the lease arrangement.

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 26,151,355 23,612,851
Social security costs 2,305,866 2,193,683
Other pension costs 396,080 373,001
28,853,301 26,179,535

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

Directors 8 8
Administrative 70 70
Selling and distribution 765 707
843 785

The average number of employees by undertakings that were proportionately consolidated during the year was 843 (2022 - 785 ) .

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. EMPLOYEES AND DIRECTORS - continued

2023 2022
£ £
Directors' remuneration 1,973,683 2,161,892

The number of directors to whom retirement benefits were accruing was as follows:

Defined benefit schemes 2 2

Information regarding the highest paid director is as follows:
2023 2022
£ £
Emoluments etc 450,170 532,327

5. OPERATING PROFIT

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

2023 2022
£    £   
Other operating leases 7,255,551 6,938,755
Depreciation - owned assets 1,822,669 1,691,811
Depreciation - assets on hire purchase contracts 406,336 302,572
Profit on disposal of fixed assets (80,680 ) (674,773 )
Goodwill amortisation 328,204 -

6. AUDITORS' REMUNERATION

2023 2022
£ £
Fee payable to the company's auditor in respect of
Audit of the company 26,000 26,933

Audit of the financial statements of the group and subsidiary undertakings

6,000


6,300
33,000 33,233
Non audit Services
Taxation Compliance and Advisory Services 9,500 8,820
Other Services 9,000 9,660
18,500 18,480

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank loan interest 940,869 572,033
Other interest 558 -
Hire purchase 75,615 55,604
Interest on overdue tax (3,080 ) 4,368
1,013,962 632,005

8. 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 670,871 658,000
Prior year taxation under / (over) provision (252,076 ) 102,546
Total current tax 418,795 760,546

Deferred tax 52,235 (36,866 )
Tax on profit 471,030 723,680

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 3,156,188 4,109,040
Profit multiplied by the standard rate of corporation tax in the UK of
21.005 % (2022 - 19 %)

662,957

780,718

Effects of:
Expenses not deductible for tax purposes 45,153 37,975
Capital allowances in excess of depreciation (20,292 ) (119,880 )
deduction

Profit on disposal of assets (16,947 ) (128,207 )
Deferred Tax movement 52,235 (36,866 )
Chargeable gains - 87,394
Prior year taxation Under / (Over) Provision (252,076 ) 102,546
Total tax charge 471,030 723,680

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

9. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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.


10. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim 2,850,000 2,375,000

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 8,418,019
AMORTISATION
At 1 August 2022 1,513,382
Amortisation for year 328,204
At 31 July 2023 1,841,586
NET BOOK VALUE
At 31 July 2023 6,576,433
At 31 July 2022 6,904,637

In 2020 the Directors changed the accounting policy of fixed asset investments from that of fair value less impairment to Cost less impairment in the individual financial statements.

This resulted in the writing down of fixed Asset Investments by £31,902,000 in relation to the 100% owned subsidiary Formula One Auto Centres Limited.

The Amortisation policy of the company for Goodwill is 20 years for this acquisition. As £1,513,382 was amortised within year one of this amount in 2019, during the year a further £328,204 of amortisation was included taking the total amortised Goodwill to £1,841,586 which is 4 years of amortisation under the 20 year policy.

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

12. TANGIBLE FIXED ASSETS

Group
Freehold Long Plant and Motor
property leasehold machinery vehicles Totals
£    £    £    £    £   
COST
At 1 August 2022 8,722,426 9,963,056 5,071,735 1,342,224 25,099,441
Additions 22,528 696,346 1,188,674 389,038 2,296,586
Disposals - (5,750 ) - (294,991 ) (300,741 )
At 31 July 2023 8,744,954 10,653,652 6,260,409 1,436,271 27,095,286
DEPRECIATION
At 1 August 2022 (8,628 ) 2,834,680 2,169,722 368,545 5,364,319
Charge for year - 949,931 871,693 407,381 2,229,005
Eliminated on disposal - - - (245,663 ) (245,663 )
At 31 July 2023 (8,628 ) 3,784,611 3,041,415 530,263 7,347,661
NET BOOK VALUE
At 31 July 2023 8,753,582 6,869,041 3,218,994 906,008 19,747,625
At 31 July 2022 8,731,054 7,128,376 2,902,013 973,679 19,735,122

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022 1,363,983
Additions 389,038
Disposals (294,921 )
Transfer to ownership (62,761 )
Reclassification/transfer 367,156
At 31 July 2023 1,762,495
DEPRECIATION
At 1 August 2022 419,825
Charge for year 406,336
Eliminated on disposal (245,593 )
Transfer to ownership (45,763 )
Reclassification/transfer 339,898
At 31 July 2023 874,703
NET BOOK VALUE
At 31 July 2023 887,792
At 31 July 2022 944,158

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertaking
£   
COST
At 1 August 2022
and 31 July 2023 40,199,865
PROVISIONS
At 1 August 2022
and 31 July 2023 31,902,000
NET BOOK VALUE
At 31 July 2023 8,297,865
At 31 July 2022 8,297,865


ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

13. FIXED ASSET INVESTMENTS - continued


At 31 July 2023 the company held 100% of the allotted ordinary share capital of the following dormant
entities:

Formula Plus Autocentres Limited
Formula Autocentres Limited
Protium Holdings Limited
PJS Automotive Limited
Autowise Tyre and Autocentres Limited*

*Investment held indirectly through the company's investment in PJS Automotive Limited.

All subsidiaries were incorporated in England and Wales.

The registered office for all of the subsidiaries is Aston House, Boulton Road, Stevenage, Hertfordshire SG1 4QX.

During 2020 the investment in Protium was fully impaired due to the fact that the trade now operates from this company.

During 2020 the Directors also changed the accounting policy of fixed asset investments from that of fair value less impairment to Cost less impairment in the individual financial statements.

This resulted in the writing down of fixed Asset Investments by £31,902,000 in relation to the 100% owned subsidiary Formula One Auto Centres Limited.

Formula One Auto Centres Limited is now held at cost. Which was as follows:

£   
Cash consideration 8,000,000
Stamp duty 199,865
Shares purchased at nominal value 98,000
Total 8,297,865

14. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 871,945
NET BOOK VALUE
At 31 July 2023 871,945
At 31 July 2022 871,945

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

14. INVESTMENT PROPERTY - continued

Group

Investment property relates to property held to receive rental income or capital appreciation.

The value held within these accounts is the cost less accumulated depreciation. The valuation of this
property was in line with this and therefore no revaluation has taken place as of the year end.

15. STOCKS

Group
2023 2022
£    £   
Stocks 2,130,134 2,483,071

Stock is measured at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items as well as sale or return stock.

Cost is calculated on a last cost basis to approximate costs for each individual centre, this includes all
costs of purchase, cost of conversion and other costs incurred in bringing the inventories to their
present location and condition.

Net realisable value is based on estimated selling price less costs to complete and sell.

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2023 2022
£    £   
Trade debtors 604,917 599,845
Other debtors 418,993 223,045
Prepayments and accrued income 5,244,380 4,485,097
6,268,290 5,307,987

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 19) 1,530,000 2,040,000 1,530,000 2,040,000
Hire purchase contracts (see note 20) 713,996 646,737 - -
Trade creditors 13,239,738 12,631,461 - -
Amounts owed to group undertakings - - 5,545,219 3,596,984
Tax 245,186 380,744 - -
Social security and other taxes 615,093 548,394 - -
VAT 1,313,562 1,023,695 - -
Other creditors 140,620 156,800 - -
Directors' current accounts 1,063,335 1,077,256 1,063,335 1,077,256
Accruals and deferred income 5,276,710 5,046,292 14,357 17,459
24,138,240 23,551,379 8,152,911 6,731,699

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

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans (see note 19) 11,250,000 12,457,321 - 1,457,321
Hire purchase contracts (see note 20) 1,029,963 802,299 - -
12,279,963 13,259,620 - 1,457,321

19. LOANS

An analysis of the maturity of loans is given below:

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 1,530,000 2,040,000 1,530,000 2,040,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 11,250,000 12,457,321 - 1,457,321

The bank loans and Revolving Credit Facility are secured by legal mortgages over the group's freehold and leasehold properties and a fixed and floating charge over the assets of the group.

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 713,996 646,737
Between one and five years 1,029,963 802,299
1,743,959 1,449,036

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 7,202,377 7,063,183
Between one and five years 23,947,497 24,751,350
In more than five years 28,131,709 30,961,462
59,281,583 62,775,995

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

21. SECURED DEBTS

The bank loans and Revolving Credit Facility are secured by legal mortgages over the group's freehold and leasehold properties and a fixed and floating charge over the assets of the group.

The following security is held by the subsidiary company's bank;
First Legal Charge dated 29 March 2019 over Freehold Property known as 112A, Worcester
Road, Kidderminster, Worcestershire, DY10 1JS
First Legal Charge dated 29 March 2019 over Freehold Property known as Aston House,
Boulton Road, Stevenage, SG1 4QX
First Legal Charge dated 29 March 2019 over Freehold Property known as Bilton Road,
Bletchley, Milton Keynes, MK1 1HW
First Legal Charge dated 29 March 2019 over Freehold Property known as 16 Gambrel Road, Northampton, Northamptonshire NN5 5BB
First Legal Charge dated 29 March 2019 over Freehold Property known as Abtec House, 18B
Boulton Road, Stevenage, SG1 4QX
First Legal Charge dated 29 March 2019 over Freehold Property known as 451A Tamworth
Road, Long Eaton, Derbyshire, NG10 3GL
First Legal Charge dated 29 March 2019 over Freehold Property known as 14 Grafton Street,
Northampton, Northamptonshire, NN1 2NW
First Legal Charge dated 29 March 2019 over Freehold Property known as Arlington Way,
Shrewsbury, Shropshire, SY1 4YA
First Legal Charge dated 29 March 2019 over Freehold Property known as 217/219 Liverpool
Road, Newcastle Under Lyme, Staffordshire, ST5 9HW
First Legal Charge dated 29 March 2019 over Freehold Property known as Rocky Hill,
London Road, Maidstone, ME16 8PY
First Legal Charge dated 29 March 2019 over Freehold Property known as 202 Chesterfield
Road North, Mansfield, Nottinghamshire, NG19 7JG
First Legal Charge dated 29 March 2019 over Freehold Property known as 102 Hillmorton
Road, Rugby, Warwickshire, CV22 5DQ
First Legal Charge dated 29 March 2019 over Freehold Property known as Unit 1, Challenger
Court, Tritton Road, Lincoln, LN6 7QY
Composite Company Unlimited Multilateral Guarantee dated 15 February 2019 given by
Formula One Auto Centres Limited, Aston Group Holdings Limited,
Protium Holdings Limited, Autowise Tyre and Autocentres Limited,
PJS Automotive Limited
Debenture including Fixed Charge over all present freehold and leasehold property; First
Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present
and future; and First Floating Charge over all assets and undertaking both present and future
dated 15 February 2019

22. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax 677,411 625,176

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

22. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 August 2022 625,176
Provided during year 52,235
Balance at 31 July 2023 677,411

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
98,000 Ordinary £1 98,000 98,000
1,000 A Ordinary £1 1,000 1,000
99,000 99,000

24. RESERVES

Group
Retained
earnings
£   

At 1 August 2022 1,418,343
Profit for the year 2,685,158
Dividends (2,850,000 )
At 31 July 2023 1,253,501

Company
Retained
earnings
£   

At 1 August 2022 13,427
Profit for the year 2,889,665
Dividends (2,850,000 )
At 31 July 2023 53,092

ASTON GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 11717113)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

24. RESERVES - continued

Called up Share Capital
The called-up share capital represents the nominal value of shares that have been issued.

Revaluation Reserve
Revaluation reserve included the revaluation surplus on freehold land and buildings.

Other Reserves
Other reserves are in respect of share-based payment charges relating to options that have not been
cancelled or exercised at the year end.

Profit and loss account
The profit and loss account includes all current and prior year retained profits and losses less
dividends paid.

25. CAPITAL COMMITMENTS

Amounts contracted for but not provided in the consolidated financial statements in respect of the company amounted to £924,000 (2022: £5,010,840) in relation to a new site opening in the new financial year. The previous year also related to leases on new sites committed to opening at the start of the 2023 year.

26. RELATED PARTY DISCLOSURES

Included within Directors Current Accounts is a balance of £542,036 due to P S Glencross (2022: amounts due to P S Glencross of £553,160) and £521,299 due to L Glencross (2022: amounts due to L Glencross of £524,095), both of whom were directors during the year and shareholders of the parent company.

All of the directors have authority and responsibility for planning, directing and controlling the activities of the parent company and are considered to be key management, personnel as defined in FRS 102. Total remuneration in respect of these individuals is £1,925,054 (2021: £2,131,260).

During the year the parent company paid dividends amounting to £2,850,000 (2022: £2,375,000) in respect of shares held by the directors and received dividends from the immediate subsidiary undertaking amounting to £3,050,000 (2022: £2,375,000).

During the year the company loaned £149,866 to GP Care Now Limited who have ultimate owners in common.

The parent company has taken advantage of the exemption in FRS 102 Chapter 33 Related Party Disclosures paragraph 33.1A not to disclose transactions with fellow subsidiaries of the Aston Group
Holdings Limited group.

27. GOVERNMENT GRANTS

Other income includes amounts recieved from the rates relief scheme.