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AL13 Holdings Limited

Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements for the Year Ended 31 August 2023






AL13 Holdings Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: C C Shorney
R H Cope


SECRETARY: R H Cope


REGISTERED OFFICE: C/o Dudleys Aluminium Ltd
Lamby Industrial Estate
Mardy Road
Cardiff
CF3 2EX


REGISTERED NUMBER: 12868138 (England and Wales)


SENIOR STATUTORY
AUDITOR:
Nicholas Matthew Toye FCA


AUDITORS: BPU Limited
Chartered Accountants
Statutory Auditor
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA


BANKERS: Santander UK plc
5-9 Queen Street
Cardiff
CF10 2UD

AL13 Holdings Limited (Registered number: 12868138)

Group Strategic Report
for the Year Ended 31 August 2023


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

BUSINESS REVIEW & FUTURE DEVELOPMENTS

The Group consists of Pachuca Holdings Limtied, an intermediate holding company, and Dudleys Aluminium Limited. The principle activity of Dudleys Aluminium Limited is the fabrication and installation of architectural aluminium.

The year to 31st August 2023 was a successful period, building upon the strong foundations laid down in the previous years. Sales increased in comparison to the previous year, with retained profit transferred to reserves also increasing in comparison to previous periods. The Directors have continued a prudent approach and commitment to strengthening the Company's capital base, further growing, and strengthening the Company's Balance Sheet during the period.

The business remains committed to monitoring our energy consumption, with the aim of reducing our carbon footprint. Dudley's Aluminium Limited is committed to achieving Net Zero emissions by 2050 and is currently in the process of implementing our ambitious and practical decarbonisation strategy.

PRINCIPAL RISKS AND UNCERTAINTIES

Operating within the construction sector there are risks and uncertainties that the company faces on both a daily and an on-going basis. The directors believe these risks can be principally grouped as: Health and Safety risk, Operational risk and Financial risk.

Health and safety risk
The Board recognises its employees and subcontractors work within an industry that faces many potential Health and Safety hazards. In order to mitigate these risks to the fullest possible extent the company makes every effort to ensure that its Health and Safety policies and procedures are of the highest industry leading standard.

Operational risk
As the projects undertaken by the company are often over the medium to long term, contracts may progress in a way that was not anticipated. To mitigate any risks associated with such a scenario, therefore, the company has internal checks and balances throughout each department associated with a projects progression. This ensures that any changes are identified at the earliest possible stage thus enabling effective control and risk management to be maintained.

Financial risk
All work is subject to a formal tendering process. Within this process many criteria are taken into account, including but not exclusively, financial, technical, capability and workload.

The risks associated with each of these stages is assessed and monitored. Close relationships are maintained with all interested parties and there is inter departmental liaison at all stages through a project's duration in order to identify variances at the earliest possible opportunity.

The company has detailed and established financial controls to monitor all major financial indicators including, weekly and annual cash flows, monthly internal management accounts and full individual cost tracking for all projects.


AL13 Holdings Limited (Registered number: 12868138)

Group Strategic Report
for the Year Ended 31 August 2023




KEY PERFORMANCE INDICATORS

The directors use a number of key performance indicators, both financial and non-financial, to monitor the company's position.

THIS REPORT WAS APPROVED BY THE BOARD:





C C Shorney - Director


20 February 2024

AL13 Holdings Limited (Registered number: 12868138)

Report of the Directors
for the Year Ended 31 August 2023


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

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of a holding company.

DIVIDENDS
The total distribution of dividends for the year ended 31 August 2023 was £125,000 (2022: £125,000).

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

C C Shorney
R H Cope

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

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

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

AL13 Holdings Limited (Registered number: 12868138)

Report of the Directors
for the Year Ended 31 August 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 group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

THIS REPORT WAS APPROVED BY THE BOARD:





C C Shorney - Director


20 February 2024

Report of the Independent Auditors to the Members of
AL13 Holdings Limited


Opinion
We have audited the financial statements of AL13 Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2023 which comprise the Consolidated Profit & Loss Account, 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 August 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.

Report of the Independent Auditors to the Members of
AL13 Holdings Limited


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

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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

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 four, 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
AL13 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:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risks of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that 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.

The laws and regulations that we determined were most significant to the company were the Companies Act, UK corporate tax laws, Health and Safety at Work Act and the Environmental Protection Act.

We obtained an understanding of how the company is complying with those laws and regulations by making enquiries to the management, and corroborated these enquiries through our review of board minutes.

We assessed the susceptibility of the companys financial statements to material misstatement, including how fraud might occur, and did not identify any key audit matters relating to irregularities, including fraud. We assessed the effectiveness of internal controls that management has in place to prevent and detect fraud, including testing of manual journals and evaluating the assumptions and judgements made by management in its significant accounting estimates.

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
AL13 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.




Nicholas Matthew Toye FCA (Senior Statutory Auditor)
for and on behalf of BPU Limited
Chartered Accountants
Statutory Auditor

23 February 2024

AL13 Holdings Limited (Registered number: 12868138)

Consolidated Profit & Loss Account
for the Year Ended 31 August 2023

2023 2022
Notes £    £   

TURNOVER 12,164,619 9,841,717

Cost of sales (9,401,601 ) (7,206,901 )
GROSS PROFIT 2,763,018 2,634,816

Distribution costs (2,010 ) (5,076 )
Administrative expenses (1,879,708 ) (1,947,982 )
OPERATING PROFIT 3 881,300 681,758

Interest receivable & similar income 23,901 6,437
905,201 688,195

Interest payable and similar
expenses

5

(9,319

)

(7,899

)
PROFIT BEFORE TAXATION 895,882 680,296

Tax on profit 6 (194,660 ) (123,854 )
PROFIT FOR THE FINANCIAL YEAR 701,222 556,442

AL13 Holdings Limited (Registered number: 12868138)

Consolidated Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 (43,145 ) (76,769 )
Tangible assets 10 244,965 282,135
Investments 11 53,892 53,892
255,712 259,258

CURRENT ASSETS
Stocks 12 816,650 577,651
Debtors 13 2,086,685 1,407,183
Cash at bank and in hand 1,329,725 1,440,458
4,233,060 3,425,292
CREDITORS
Amounts falling due within one year 14 1,789,194 1,538,959
NET CURRENT ASSETS 2,443,866 1,886,333
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,699,578

2,145,591

CREDITORS
Amounts falling due after more than
one year

15

(34,451

)

(56,912

)

PROVISIONS FOR LIABILITIES 18 (23,259 ) (23,033 )
NET ASSETS 2,641,868 2,065,646

CAPITAL AND RESERVES
Called up share capital 19 92,400 92,400
Merger reserve 636,272 636,272
Retained earnings 1,913,196 1,336,974
SHAREHOLDERS' FUNDS 2,641,868 2,065,646

AL13 Holdings Limited (Registered number: 12868138)

Consolidated Balance Sheet - continued
31 August 2023


The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:




C C Shorney - Director



R H Cope - Director


AL13 Holdings Limited (Registered number: 12868138)

Company Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - -
Investments 11 1,881,398 1,881,398
1,881,398 1,881,398

CURRENT ASSETS
Debtors 13 4 4

CREDITORS
Amounts falling due within one year 14 913,468 906,949
NET CURRENT LIABILITIES (913,464 ) (906,945 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

967,934

974,453

CAPITAL AND RESERVES
Called up share capital 19 92,400 92,400
Merger reserve 636,272 636,272
Retained earnings 239,262 245,781
SHAREHOLDERS' FUNDS 967,934 974,453

Company's profit for the financial
year

118,481

121,341

AL13 Holdings Limited (Registered number: 12868138)

Company Balance Sheet - continued
31 August 2023


The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:




C C Shorney - Director



R H Cope - Director


AL13 Holdings Limited (Registered number: 12868138)

Consolidated Statement of Changes in Equity
for the Year Ended 31 August 2023

Called up
share Retained Merger Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 September 2021 92,400 905,532 636,272 1,634,204

Changes in equity
Dividends - (125,000 ) - (125,000 )
Total comprehensive income - 556,442 - 556,442
Balance at 31 August 2022 92,400 1,336,974 636,272 2,065,646

Changes in equity
Dividends - (125,000 ) - (125,000 )
Total comprehensive income - 701,222 - 701,222
Balance at 31 August 2023 92,400 1,913,196 636,272 2,641,868

AL13 Holdings Limited (Registered number: 12868138)

Company Statement of Changes in Equity
for the Year Ended 31 August 2023

Called up
share Retained Merger Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 September 2021 92,400 249,440 636,272 978,112

Changes in equity
Dividends - (125,000 ) - (125,000 )
Total comprehensive income - 121,341 - 121,341
Balance at 31 August 2022 92,400 245,781 636,272 974,453

Changes in equity
Dividends - (125,000 ) - (125,000 )
Total comprehensive income - 118,481 - 118,481
Balance at 31 August 2023 92,400 239,262 636,272 967,934

AL13 Holdings Limited (Registered number: 12868138)

Consolidated Cash Flow Statement
for the Year Ended 31 August 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 226,671 734,673
Interest paid (9,319 ) (7,899 )
Tax paid (131,064 ) (196,217 )
Net cash from operating activities 86,288 530,557

Cash flows from investing activities
Purchase of tangible fixed assets (24,964 ) (81,026 )
Purchase of fixed asset investments - (11,000 )
Sale of tangible fixed assets - 20,270
Interest received 23,901 6,437
Net cash from investing activities (1,063 ) (65,319 )

Cash flows from financing activities
New loans in year - 41,275
Capital repayments in year (70,958 ) (43,336 )
Equity dividends paid (125,000 ) (125,000 )
Net cash from financing activities (195,958 ) (127,061 )

(Decrease)/increase in cash and cash equivalents (110,733 ) 338,177
Cash and cash equivalents at
beginning of year

2

1,440,458

1,102,281

Cash and cash equivalents at end
of year

2

1,329,725

1,440,458

AL13 Holdings Limited (Registered number: 12868138)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 August 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 895,882 680,296
Depreciation charges 62,134 63,599
Profit on disposal of fixed assets - (889 )
Negative goodwill write down (33,624 ) (33,624 )
Finance costs 9,319 7,899
Finance income (23,901 ) (6,437 )
909,810 710,844
(Increase)/decrease in stocks (238,999 ) 63,034
(Increase)/decrease in trade and other debtors (679,502 ) 1,085,463
Increase/(decrease) in trade and other creditors 235,362 (1,124,668 )
Cash generated from operations 226,671 734,673

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 August 2023
31/8/23 1/9/22
£    £   
Cash and cash equivalents 1,329,725 1,440,458
Year ended 31 August 2022
31/8/22 1/9/21
£    £   
Cash and cash equivalents 1,440,458 1,102,281


AL13 Holdings Limited (Registered number: 12868138)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 August 2023


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/9/22 Cash flow At 31/8/23
£    £    £   
Net cash
Cash at bank and in hand 1,440,458 (110,733 ) 1,329,725
1,440,458 (110,733 ) 1,329,725
Debt
Finance leases (104,995 ) 70,958 (34,037 )
(104,995 ) 70,958 (34,037 )
Total 1,335,463 (39,775 ) 1,295,688

AL13 Holdings Limited (Registered number: 12868138)

Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2023


1. 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 as modified by the revaluation of certain assets.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of Services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;

-
the stage of completion of the contract at the end of the reporting period can be
measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Negative goodwill
Negative goodwill has arisen in connection with the acquisition of a business. The aggregate fair value of the acquired assets exceeds the consideration paid for the business. This is being released to the profit and loss account over the period in which these assets are recovered through use or sale on a pro rata basis.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% straight line
Plant and machinery - 25% reducing balance
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance

AL13 Holdings Limited (Registered number: 12868138)

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


1. ACCOUNTING POLICIES - continued

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

AL13 Holdings Limited (Registered number: 12868138)

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


1. ACCOUNTING POLICIES - continued

Pension costs
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.

Valuation of investments
Investments are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 1,717,175 1,671,771
Social security costs 145,631 158,531
Other pension costs 89,117 158,839
1,951,923 1,989,141

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

Administration 25 26
Production 27 26
52 52

2023 2022
£    £   
Directors' remuneration 56,931 110,989
Directors' pension contributions to money purchase schemes 30,000 1,200

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

Money purchase schemes 1 1

AL13 Holdings Limited (Registered number: 12868138)

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


2. EMPLOYEES AND DIRECTORS - continued

Total compensation paid to key management personnel during the year was £330,939 (2022: £301,833).

3. OPERATING PROFIT

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

2023 2022
£    £   
Hire of plant & machinery 198,695 110,038
Depreciation - owned assets 62,134 63,598
Profit on disposal of fixed assets - (889 )
Goodwill amortisation (33,624 ) (33,624 )
Audit fees 11,025 10,500
Other operating lease rentals 203,708 194,114

4. EXCEPTIONAL ITEMS
2023 2022
£    £   
Negative goodwill write down 33,624 33,624

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank loan interest 2,800 4,240
Other interest 6,519 3,659
9,319 7,899

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 194,434 131,063

Deferred tax 226 (7,209 )
Tax on profit 194,660 123,854

AL13 Holdings Limited (Registered number: 12868138)

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


6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 895,882 680,296
Profit multiplied by the standard rate of corporation tax in the
UK of 21.515 % (2022 - 19 %)

192,749

129,256

Effects of:
Expenses not deductible for tax purposes 874 400
Depreciation in excess of capital allowances 6,642 7,100
Taxation not provided 1,403 695
Impact of consolidation (7,234 ) (6,388 )
Deferred taxation 226 (7,209 )
Total tax charge 194,660 123,854

7. INDIVIDUAL PROFIT & LOSS ACCOUNT

As permitted by Section 408 of the Companies Act 2006, the Profit & Loss Account of the parent company is not presented as part of these financial statements.


8. DIVIDENDS

2023 2022
£ £
C Ordinary 16,250 16,250
D Ordinary 65,000 65,000
E Ordinary 21,875 21,875
F Ordinary 21,875 21,875
125,000 125,000

AL13 Holdings Limited (Registered number: 12868138)

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


9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 (693,528 )
AMORTISATION
At 1 September 2022 (616,759 )
Amortisation for year (33,624 )
At 31 August 2023 (650,383 )
NET BOOK VALUE
At 31 August 2023 (43,145 )
At 31 August 2022 (76,769 )

10. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2022 25,764 177,449 19,822
Additions 7,180 12,086 5,546
At 31 August 2023 32,944 189,535 25,368
DEPRECIATION
At 1 September 2022 6,742 56,167 4,518
Charge for year 4,641 28,221 2,924
At 31 August 2023 11,383 84,388 7,442
NET BOOK VALUE
At 31 August 2023 21,561 105,147 17,926
At 31 August 2022 19,022 121,282 15,304

AL13 Holdings Limited (Registered number: 12868138)

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


10. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022 142,932 18,068 384,035
Additions - 152 24,964
At 31 August 2023 142,932 18,220 408,999
DEPRECIATION
At 1 September 2022 32,448 2,025 101,900
Charge for year 24,666 1,682 62,134
At 31 August 2023 57,114 3,707 164,034
NET BOOK VALUE
At 31 August 2023 85,818 14,513 244,965
At 31 August 2022 110,484 16,043 282,135

The net book value of assets held under finance leases or hire purchase contracts are £93,603 (2022: £126,775).

11. FIXED ASSET INVESTMENTS

Group
Listed Unlisted
investments investments Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 27,492 26,400 53,892
NET BOOK VALUE
At 31 August 2023 27,492 26,400 53,892
At 31 August 2022 27,492 26,400 53,892

AL13 Holdings Limited (Registered number: 12868138)

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


11. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group
undertakings
£   
COST
At 1 September 2022
and 31 August 2023 1,881,398
NET BOOK VALUE
At 31 August 2023 1,881,398
At 31 August 2022 1,881,398

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

Subsidiaries

Pachuca Holdings Limited
Registered office: C/o Dudleys Aluminium Limited, Lamby Industrial Estate, Mardy Road, Cardiff, CF3 2EX
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 334,239 334,239
Profit for the year 125,000 125,000

Dudleys Aluminium Limited
Registered office: C/o Dudleys Aluminium Limited, Lamby Industrial Estate, Mardy Road, Cardiff, CF3 2EX
Nature of business: Installation of architectural aluminium
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 4,346,707 3,876,369
Profit for the year 595,338 447,697


AL13 Holdings Limited (Registered number: 12868138)

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


12. STOCKS

Group
2023 2022
£    £   
Stocks 186,045 172,782
Work-in-progress 630,605 404,869
816,650 577,651

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 673,418 633,277 - -
Other debtors 1,318,532 726,618 - -
Directors' loan accounts - - 4 4
VAT 94,735 47,288 - -
2,086,685 1,407,183 4 4

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Hire purchase contracts (see note 16)
27,336

70,958

-

-
Trade creditors 751,687 434,470 - -
Amounts owed to group undertakings - - 816,276 518,181
Corporation tax 194,433 131,063 - -
Social security and other taxes 36,196 29,312 - -
Other creditors 169,815 478,200 97,192 388,768
Directors' loan accounts 35,359 14,861 - -
Accrued expenses 574,368 380,095 - -
1,789,194 1,538,959 913,468 906,949

AL13 Holdings Limited (Registered number: 12868138)

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


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

Group
2023 2022
£    £   
Hire purchase contracts (see note 16)
6,701

34,037
Other creditors 27,750 22,875
34,451 56,912

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 27,336 70,958
Between one and five years 6,701 34,037
34,037 104,995

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 162,933 157,543
Between one and five years 336,142 463,915
499,075 621,458

AL13 Holdings Limited (Registered number: 12868138)

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


17. SECURED DEBTS

The following secured debts are included within creditors:

Group
2023 2022
£    £   
Hire purchase contracts 34,037 104,995

The hire purchase assets are secured over the assets to which they relate.

18. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax 23,259 23,033

Group
Deferred
tax
£   
Balance at 1 September 2022 23,033
Charge to Profit & Loss Account during year 226
Balance at 31 August 2023 23,259

The deferred taxation element relates to accelerated capital allowances.

19. CALLED UP SHARE CAPITAL

2023 2022
£    £   
Allotted, called up and partly paid
A ordinary shares of £1 each 90,896 90,896
B ordinary shares of £1 each 1,500 1,500
C ordinary shares of £1 each 1 1
D ordinary shares of £1 each 1 1
E ordinary shares of £1 each 1 1
F ordinary shares of £1 each 1 1
92,400 92,400

AL13 Holdings Limited (Registered number: 12868138)

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


20. RELATED PARTY DISCLOSURES

C C Shorney, a director of the company, acts as a trustee to the pension fund. Rent of £139,400 (2022: £128,403) was paid to the pension fund in the year and at year end a balance of £NIL (2022: £NIL) is held in trade creditors.