IRIS Accounts Production v24.2.0.383 07693633 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false Ordinary A 0.01000 Ordinary B 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh076936332022-12-31076936332023-12-31076936332023-01-012023-12-31076936332021-12-30076936332021-12-312022-12-31076936332022-12-3107693633ns15:EnglandWales2023-01-012023-12-3107693633ns14:PoundSterling2023-01-012023-12-3107693633ns10:Director12023-01-012023-12-3107693633ns10:Director22023-01-012023-12-3107693633ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3107693633ns10:SmallEntities2023-01-012023-12-3107693633ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3107693633ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3107693633ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107693633ns10:FullAccounts2023-01-012023-12-310769363312023-01-012023-12-3107693633ns10:OrdinaryShareClass12023-01-012023-12-3107693633ns10:OrdinaryShareClass22023-01-012023-12-3107693633ns10:Director32023-01-012023-12-3107693633ns10:Director42023-01-012023-12-3107693633ns10:RegisteredOffice2023-01-012023-12-3107693633ns5:CurrentFinancialInstruments2023-12-3107693633ns5:CurrentFinancialInstruments2022-12-3107693633ns5:Non-currentFinancialInstruments2023-12-3107693633ns5:Non-currentFinancialInstruments2022-12-3107693633ns5:ShareCapital2023-12-3107693633ns5:ShareCapital2022-12-3107693633ns5:CapitalRedemptionReserve2023-12-3107693633ns5:CapitalRedemptionReserve2022-12-3107693633ns5:RetainedEarningsAccumulatedLosses2023-12-3107693633ns5:RetainedEarningsAccumulatedLosses2022-12-3107693633ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3107693633ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3107693633ns5:ComputerSoftware2023-01-012023-12-3107693633ns5:NetGoodwill2022-12-3107693633ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3107693633ns5:ComputerSoftware2022-12-3107693633ns5:NetGoodwill2023-01-012023-12-3107693633ns5:NetGoodwill2023-12-3107693633ns5:PatentsTrademarksLicencesConcessionsSimilar2023-12-3107693633ns5:ComputerSoftware2023-12-3107693633ns5:NetGoodwill2022-12-3107693633ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3107693633ns5:ComputerSoftware2022-12-3107693633ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-3107693633ns5:PlantMachinery2022-12-3107693633ns5:FurnitureFittings2022-12-3107693633ns5:LongLeaseholdAssetsns5:LandBuildings2023-01-012023-12-3107693633ns5:PlantMachinery2023-01-012023-12-3107693633ns5:FurnitureFittings2023-01-012023-12-3107693633ns5:LongLeaseholdAssetsns5:LandBuildings2023-12-3107693633ns5:PlantMachinery2023-12-3107693633ns5:FurnitureFittings2023-12-3107693633ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-3107693633ns5:PlantMachinery2022-12-3107693633ns5:FurnitureFittings2022-12-3107693633ns5:MotorVehicles2022-12-3107693633ns5:ComputerEquipment2022-12-3107693633ns5:MotorVehicles2023-01-012023-12-3107693633ns5:ComputerEquipment2023-01-012023-12-3107693633ns5:MotorVehicles2023-12-3107693633ns5:ComputerEquipment2023-12-3107693633ns5:MotorVehicles2022-12-3107693633ns5:ComputerEquipment2022-12-3107693633ns5:CostValuation2022-12-3107693633ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3107693633ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3107693633ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-12-3107693633ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-12-3107693633ns5:Secured2023-12-3107693633ns5:Secured2022-12-3107693633ns5:AcceleratedTaxDepreciationDeferredTax2023-12-3107693633ns5:AcceleratedTaxDepreciationDeferredTax2022-12-3107693633ns5:TaxLossesCarry-forwardsDeferredTax2023-12-3107693633ns5:TaxLossesCarry-forwardsDeferredTax2022-12-3107693633ns5:DeferredTaxation2022-12-3107693633ns5:DeferredTaxation2023-01-012023-12-3107693633ns5:DeferredTaxation2023-12-3107693633ns10:OrdinaryShareClass12023-12-3107693633ns10:OrdinaryShareClass22023-12-3107693633ns5:RetainedEarningsAccumulatedLosses2022-12-3107693633ns5:CapitalRedemptionReserve2022-12-3107693633ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31
REGISTERED NUMBER: 07693633 (England and Wales)















ASH & LACY HOLDINGS LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2023






ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 12


ASH & LACY HOLDINGS LIMITED

Company Information
for the year ended 31 December 2023







Directors: A C Beament-Lefevre
Dr J L Evans
Y Tian
A D Waterhouse





Registered office: Ash & Lacy House
Bromford Lane
West Bromwich
West Midlands
B70 7JJ





Registered number: 07693633 (England and Wales)





Accountants: Cooper Parry Group Limited
CUBO Birmingham
3rd Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 226,365 144,950
Tangible assets 5 950,037 1,051,389
Investments 6 1 1
1,176,403 1,196,340

Current assets
Debtors 7 3,825,490 5,394,840
Cash at bank 13,679 67,705
3,839,169 5,462,545
Creditors
Amounts falling due within one year 8 2,523,494 3,784,498
Net current assets 1,315,675 1,678,047
Total assets less current liabilities 2,492,078 2,874,387

Creditors
Amounts falling due after more than
one year

9

(133,573

)

(279,270

)

Provisions for liabilities 11 (30,481 ) (3,833 )
Net assets 2,328,024 2,591,284

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Statement of Financial Position - continued
31 December 2023

2023 2022
Notes £    £    £    £   
Capital and reserves
Called up share capital 12 200,000 200,000
Capital redemption reserve 13 40,000 40,000
Retained earnings 13 2,088,024 2,351,284
Shareholders' funds 2,328,024 2,591,284

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:




Dr J L Evans - Director



A D Waterhouse - Director


ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Notes to the Financial Statements
for the year ended 31 December 2023

1. Statutory information

Ash & Lacy 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 Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors have assessed the company's ability to continue as a going concern. As a result of this assessment, no material uncertainties have been identified that cast doubt about the ability of the company to continue as a going concern.

The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and therefore they continue to adopt the going concern basis of accounting in preparing these financial statements.

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

Revenue is recognised when the significant risks and rewards of ownership have transferred to the customer. For the supply of goods is at the point of dispatch.

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

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. Accounting policies - continued

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Computer software is being amortised evenly over its estimated useful life of nil years.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years:

The estimated useful lives range as follows:

Patents5 years
Goodwill10 years
Software3 to 5 years


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property 3 to 10 years
Plant and machinery 3 to 20 years
Motor vehicles4 years
Fixtures and fittings3 to 5 years
Computer equipment3 to 5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. Accounting policies - continued

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

Investments in subsidiaries are measured at cost less accumulated impairment.

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

Current or deferred taxation assets and liabilities are not discounted.

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

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

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

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

Hire purchase and leasing commitments
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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. Accounting policies - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties.

Short term debtors are measured at the transaction price, less any impairment.

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Government grants
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

3. Employees and directors

The average number of employees during the year was 29 (2022 - 27 ) .

4. Intangible fixed assets
Patents
and Computer
Goodwill licences software Totals
£    £    £    £   
Cost
At 1 January 2023 24,612 180,961 847,145 1,052,718
Additions - 233,123 - 233,123
At 31 December 2023 24,612 414,084 847,145 1,285,841
Amortisation
At 1 January 2023 24,612 163,107 720,049 907,768
Amortisation for year - 24,612 127,096 151,708
At 31 December 2023 24,612 187,719 847,145 1,059,476
Net book value
At 31 December 2023 - 226,365 - 226,365
At 31 December 2022 - 17,854 127,096 144,950

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. Tangible fixed assets
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
Cost
At 1 January 2023 185,016 28,960 713,659
Additions 50,220 - 115,215
Disposals - - -
At 31 December 2023 235,236 28,960 828,874
Depreciation
At 1 January 2023 142,068 28,960 176,741
Charge for year 23,329 - 141,133
Eliminated on disposal - - -
At 31 December 2023 165,397 28,960 317,874
Net book value
At 31 December 2023 69,839 - 511,000
At 31 December 2022 42,948 - 536,918

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 January 2023 95,833 712,564 1,736,032
Additions 21,817 150,186 337,438
Disposals (95,833 ) - (95,833 )
At 31 December 2023 21,817 862,750 1,977,637
Depreciation
At 1 January 2023 35,938 300,936 684,643
Charge for year 16,399 212,009 392,870
Eliminated on disposal (49,913 ) - (49,913 )
At 31 December 2023 2,424 512,945 1,027,600
Net book value
At 31 December 2023 19,393 349,805 950,037
At 31 December 2022 59,895 411,628 1,051,389

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

6. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 January 2023
and 31 December 2023 1
Net book value
At 31 December 2023 1
At 31 December 2022 1

The above investment represents the company's holding of the entire issued share capital of A&L Perforators Limited, a company which has been dormant throughout the current and preceding year.

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 1,498,835 1,220,733
Other debtors 2,097,879 3,839,754
Directors' loan accounts 165,000 295,283
Prepayments 63,776 39,070
3,825,490 5,394,840

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 17,343 243,430
Hire purchase contracts 125,111 125,111
Trade creditors 580,499 243,590
Corporation tax 48,508 (20,026 )
Social security and other taxes 616,672 54,065
VAT 283,009 201,999
Other creditors 743,492 533,008
Accruals and deferred income 108,860 2,403,321
2,523,494 3,784,498

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years - 20,586
Hire purchase contracts 133,573 258,684
133,573 279,270

10. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 17,343 264,016
Hire purchase contracts 258,684 383,795
276,027 647,811

Bank loans are secured by a multilateral guarantee dated 29 December 2021 between several companies all under common control. Further details are given in note 18 - contingent liabilities.

Liabilities under hire purchase contracts are secured on the individual assets concerned.

11. Provisions for liabilities
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 30,481 85,204
Tax losses carried forward - (78,711 )
Other timing differences - (2,660 )
30,481 3,833

Deferred
tax
£   
Balance at 1 January 2023 3,833
Provided during year 26,648
Balance at 31 December 2023 30,481

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
16,000,000 Ordinary A 0.01 160,000 160,000
4,000,000 Ordinary B 0.01 40,000 40,000
200,000 200,000

13. Reserves
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 2,351,284 40,000 2,391,284
Profit for the year 419,740 419,740
Dividends (683,000 ) (683,000 )
At 31 December 2023 2,088,024 40,000 2,128,024

Capital redemption reserve
The capital redemption reserve represents the par value of shares which the company has bought back during prior periods.

14. Contingent liabilities

In respect of amounts due to HSBC Bank plc, there is an Unlimited Multilateral Guarantee dated 29 December 2021 given by:

Ash & Lacy Group Limited, Ash & Lacy Holdings Limited, Ash & Lacy Building Systems Holdings Limited, Ash & Lacy Building Systems Limited, Ash & Lacy Automotive Holdings Limited, Ash & Lacy Automotive Limited, Ash & Lacy Solutions Holdings Limited, Ash & Lacy Solutions Limited, Ash & Lacy Finishes Holdings Limited, Ash & Lacy Finishes Limited, Ash & Lacy Perforating Holdings Limited, Ash & Lacy Perforating Limited, Accordial Holdings Limited and Halo Solar Limited.

The potential liability of the company at 31 December 2023 was £nil (2021: £nil).

The company is also party to a debenture dated 20 December 2022 providing cross-guarantee security to Ash & Lacy Group Limited as security trustee for all present and future liabilities of the following secured parties:

Ash & Lacy Holdings Limited, Ash & Lacy Building Systems Limited, Ash & Lacy Automotive Limited, Ash & Lacy Solutions Limited, Ash & Lacy Finishes Limited, Ash & Lacy Perforating Limited, and Halo Solar Limited.

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

15. Related party disclosures

As at 31 December 2023, J L Evans owed the company £165,000 (2022: £295,283) in respect of his director's loan account. This amount was subsequently repaid within 9 months of the period end.

Ash & Lacy Building Systems Limited undertook transactions and had balances debtors/(creditors) with the following companies under common control as shown below:

Balance Balance
Sales Purchases 2023 2022
£    £    £    £   
Ash & Lacy Building Systems Limited 5,018,201 301,690 787,454 895,526
Ash & Lacy Solutions Limited 1,519,320 1,734 322,839 1,333,265
Ash & Lacy Finishes Limited 136,608 - 628,541 609,673
Ash & Lacy Perforating Limited 520,926 18,702 (74,315 ) (36,821 )
Ash & Lacy Automotive Limited 253,070 - (275,170 ) 211,449
Halo Solar Limited 15,325 - 1,438,230 1,474,259

The above balances are a combination of amounts within trade debtors, other debtors, trade creditors and other creditors, which are allocated as such according to transaction type.

16. Controlling party

By virtue of share ownership of the parent company, J L Evans remains the the ultimate controlling party.