REGISTERED NUMBER: 11822899 (England and Wales) |
GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD |
REGISTERED NUMBER: 11822899 (England and Wales) |
GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Group Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 5 |
Consolidated Income Statement | 9 |
Consolidated Other Comprehensive Income | 10 |
Consolidated Balance Sheet | 11 |
Company Balance Sheet | 12 |
Consolidated Statement of Changes in Equity | 14 |
Company Statement of Changes in Equity | 15 |
Consolidated Cash Flow Statement | 16 |
Notes to the Consolidated Cash Flow Statement | 17 |
Notes to the Consolidated Financial Statements | 18 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditors |
Birkby House |
Bailiff Bridge |
Brighouse |
West Yorkshire |
HD6 4JJ |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
GROUP STRATEGIC REPORT |
FOR THE YEAR ENDED 30 APRIL 2024 |
The directors present their strategic report of the company and the group for the year ended 30 April 2024. |
PRINCIPAL ACTIVITIES AND REVIEW OF BUSINESS |
The company owns 100% of the shares in Alternative Windows (Leeds) Limited. The company has consolidated the business of Alternative Windows (Leeds) Limited into the group and has benefited from the ownership. |
The parent company along with it's trading subsidiary continues the principal activity of the manufacture and fitting of UPVC and Aluminium windows and doors. |
Group turnover for the year was £13,443,132 (2023 - £12,490,999) and pre tax profits were £1,869,667 (2023 - £1,369,227). The group has continued to hold a stable position in the market place. |
PRINCIPAL RISKS AND UNCERTAINTIES |
Financial risk management objectives and policies |
The company operates in the UK market. The company seeks to mitigate exposure to all forms of risk both internal and external. |
Customers and suppliers |
The company is not wholly dependent on any one supplier or customer. |
Credit risk |
The company carries out credit checks on customers through one of the leading credit checking agencies. All customers are assigned a credit limit and trading terms which are monitored on an on-going basis. |
Laws and regulations |
The company complies with all relevant regulations to operate within the law. |
The company takes its health, safety and environmental responsibilities very seriously. |
Employees |
The average number of employees throughout the year was 84 (2023 - 81). |
The company continues to be an Equal Opportunities Employer. In employment related decisions the company complies with anti discrimination requirements concerning matters of race, colour, national origin, marital status, sexual orientation, religious belief, age and physical or mental ability. Disabled people are given full and equal consideration for employment and their development is assisted and encouraged. |
ON BEHALF OF THE BOARD: |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 APRIL 2024 |
The directors present their report with the financial statements of the company and the group for the year ended 30 April 2024. |
DIVIDENDS |
Interim dividends per share were paid as follows: |
31 May 2023 | £400 |
30 June 2023 | £400 |
31 July 2023 | £820 |
31 August 2023 | £400 |
30 September 2023 | £400 |
31 October 2023 | £400 |
30 November 2023 | £800 |
31 December 2023 | £400 |
31 January 2024 | £400 |
29 February 2024 | £800 |
31 March 2024 | £400 |
30 April 2024 | £740 |
£6,360 |
The director recommends that no final dividend be paid. |
The total distribution of dividends for the year ended 30 April 2024 will be £636,000. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 APRIL 2024 |
STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued |
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 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. |
AUDITORS |
The auditors, Brosnans, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD |
Opinion |
We have audited the financial statements of Alternative Windows (Leeds) Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the group's and of the parent company affairs as at 30 April 2024 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 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD |
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 pages three and 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 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD |
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: |
Audit response to risks identified |
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: |
- the nature of the industry and sector, control environment and business performance; |
- results of our enquiries of management about their own identification and assessment of the risks of irregularities; |
- any matters we identified having obtained and reviewed the group's documentation of their policies and procedures relating to: |
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance |
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; |
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; |
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. |
We obtained an understanding of the legal and regulatory frameworks that the group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. |
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. |
Our procedures to respond to risks identified included the following: |
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
- enquiring of management concerning actual and potential litigation and claims; |
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |
- obtaining an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of provisions and |
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD |
We also communicated relevant identified laws and regulations to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |
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. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
and Statutory Auditors |
Birkby House |
Bailiff Bridge |
Brighouse |
West Yorkshire |
HD6 4JJ |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
CONSOLIDATED |
INCOME STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER | 13,443,132 | 12,490,999 |
Cost of sales | (5,579,277 | ) | (5,875,002 | ) |
GROSS PROFIT | 7,863,855 | 6,615,997 |
Administrative expenses | (6,032,938 | ) | (5,254,954 | ) |
OPERATING PROFIT | 4 | 1,830,917 | 1,361,043 |
Interest receivable and similar income | 38,750 | 8,184 |
PROFIT BEFORE TAXATION | 1,869,667 | 1,369,227 |
Tax on profit | 5 | (467,542 | ) | (276,059 | ) |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 1,402,125 | 1,093,168 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
CONSOLIDATED |
OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
PROFIT FOR THE YEAR | 1,402,125 | 1,093,168 |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
1,402,125 |
1,093,168 |
Total comprehensive income attributable to: |
Owners of the parent | 1,402,125 | 1,093,168 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
CONSOLIDATED BALANCE SHEET |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 8 | 255,024 | 355,932 |
Investments | 9 | - | - |
255,024 | 355,932 |
CURRENT ASSETS |
Stocks | 10 | 2,814,304 | 2,464,251 |
Debtors | 11 | 1,643,949 | 1,804,080 |
Cash at bank | 1,627,570 | 816,302 |
6,085,823 | 5,084,633 |
CREDITORS |
Amounts falling due within one year | 12 | (2,314,209 | ) | (2,164,702 | ) |
NET CURRENT ASSETS | 3,771,614 | 2,919,931 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
4,026,638 |
3,275,863 |
PROVISIONS FOR LIABILITIES | 15 | (18,762 | ) | (34,112 | ) |
NET ASSETS | 4,007,876 | 3,241,751 |
CAPITAL AND RESERVES |
Called up share capital | 16 | 100 | 100 |
Retained earnings | 17 | 4,007,776 | 3,241,651 |
SHAREHOLDERS' FUNDS | 4,007,876 | 3,241,751 |
The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by: |
D A Barraclough - Director |
N M Fletcher - Director |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
COMPANY BALANCE SHEET |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
Investments | 9 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 15 | ( |
) | ( |
) |
NET ASSETS |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
COMPANY BALANCE SHEET - continued |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 16 |
Share premium | 17 |
Retained earnings | 17 |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 694,325 | 869,248 |
The financial statements were approved by the Board of Directors and authorised for issue on |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 APRIL 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 May 2022 | 100 | 2,868,483 | 2,868,583 |
Changes in equity |
Dividends | - | (720,000 | ) | (720,000 | ) |
Total comprehensive income | - | 1,093,168 | 1,093,168 |
Balance at 30 April 2023 | 100 | 3,241,651 | 3,241,751 |
Changes in equity |
Dividends | - | (636,000 | ) | (636,000 | ) |
Total comprehensive income | - | 1,402,125 | 1,402,125 |
Balance at 30 April 2024 | 100 | 4,007,776 | 4,007,876 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
COMPANY STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 APRIL 2024 |
Called up |
share | Retained | Share | Total |
capital | earnings | premium | equity |
£ | £ | £ | £ |
Balance at 1 May 2022 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - | - |
Balance at 30 April 2023 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - | - |
Balance at 30 April 2024 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
CONSOLIDATED CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 1,839,045 | 1,239,698 |
Tax paid | (381,761 | ) | (205,576 | ) |
Net cash from operating activities | 1,457,284 | 1,034,122 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (5,835 | ) | (40,409 | ) |
Interest received | 38,750 | 8,184 |
Net cash from investing activities | 32,915 | (32,225 | ) |
Cash flows from financing activities |
Amount introduced by directors | 636,000 | 729,000 |
Amount withdrawn by directors | (678,931 | ) | (621,604 | ) |
Equity dividends paid | (636,000 | ) | (720,000 | ) |
Net cash from financing activities | (678,931 | ) | (612,604 | ) |
Increase in cash and cash equivalents | 811,268 | 389,293 |
Cash and cash equivalents at beginning of year |
2 |
816,302 |
427,009 |
Cash and cash equivalents at end of year |
2 |
1,627,570 |
816,302 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2024 | 2023 |
£ | £ |
Profit before taxation | 1,869,667 | 1,369,227 |
Depreciation charges | 106,743 | 120,501 |
Finance income | (38,750 | ) | (8,184 | ) |
1,937,660 | 1,481,544 |
(Increase)/decrease in stocks | (350,053 | ) | 1,037,606 |
Decrease/(increase) in trade and other debtors | 160,131 | (1,022,256 | ) |
Increase/(decrease) in trade and other creditors | 91,307 | (257,196 | ) |
Cash generated from operations | 1,839,045 | 1,239,698 |
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 30 April 2024 |
30.4.24 | 1.5.23 |
£ | £ |
Cash and cash equivalents | 1,627,570 | 816,302 |
Year ended 30 April 2023 |
30.4.23 | 1.5.22 |
£ | £ |
Cash and cash equivalents | 816,302 | 427,009 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.5.23 | Cash flow | At 30.4.24 |
£ | £ | £ |
Net cash |
Cash at bank | 816,302 | 811,268 | 1,627,570 |
816,302 | 811,268 | 1,627,570 |
Total | 816,302 | 811,268 | 1,627,570 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Alternative Windows (Leeds) Holdings Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
TANGIBLE FIXED ASSETS |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
STOCKS AND WORKS IN PROGRESS |
Stocks and works in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Contracts work in progress is valued at the lower of sales value applied for including retentions and the net realisable value, after making due allowance for customer set off costs and substandard or rejected work. |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
£ | £ |
Wages and salaries | 2,620,168 | 2,445,980 |
Social security costs | 265,568 | 240,188 |
Other pension costs | 55,901 | 51,264 |
2,941,637 | 2,737,432 |
The average number of employees during the year was as follows: |
2024 | 2023 |
Directors employed by holding company | 2 | 2 |
Staff employed by subsidiary company | 82 | 79 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
3. | EMPLOYEES AND DIRECTORS - continued |
2024 | 2023 |
£ | £ |
Directors' remuneration | 289,106 | 278,216 |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes | 2 | 2 |
Information regarding the highest paid director is as follows: |
2024 | 2023 |
£ | £ |
Emoluments etc | 174,648 | 169,371 |
The amount of contributions paid to a money purchase pension scheme on behalf of the directors' during the year was £8,000 (2023 : £8, 000 ). The amount paid on behalf of the highest paid director being £4,000 (2023 : £4,000 ) |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2024 | 2023 |
£ | £ |
Depreciation - owned assets | 106,743 | 120,500 |
Auditors' remuneration | 8,000 | 1,798 |
Auditors' remuneration - other services | 12,000 | 12,000 |
Operating lease payments in respect of land and buildings | 185,435 | 178,132 |
Defined contribution pension payments | 47,901 | 51,264 |
5. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Current tax: |
UK corporation tax | 482,892 | 273,935 |
Deferred tax | (15,350 | ) | 2,124 |
Tax on profit | 467,542 | 276,059 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
5. | 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: |
2024 | 2023 |
£ | £ |
Profit before tax | 1,869,667 | 1,369,227 |
Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 19.493 %) |
467,417 |
266,903 |
Effects of: |
Expenses not deductible for tax purposes | 125 | 811 |
Depreciation in excess of capital allowances | 15,350 | 6,221 |
Deferred tax charge | (15,350 | ) | 2,124 |
Total tax charge | 467,542 | 276,059 |
6. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
7. | DIVIDENDS |
2024 | 2023 |
£ | £ |
Ordinary shares of £1 each |
Interim | 636,000 | 720,000 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
8. | TANGIBLE FIXED ASSETS |
Group |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 May 2023 | 118,563 | 503,453 | 232,538 |
Additions | - | 5,835 | - |
At 30 April 2024 | 118,563 | 509,288 | 232,538 |
DEPRECIATION |
At 1 May 2023 | 118,563 | 317,823 | 109,382 |
Charge for year | - | 47,333 | 45,982 |
At 30 April 2024 | 118,563 | 365,156 | 155,364 |
NET BOOK VALUE |
At 30 April 2024 | - | 144,132 | 77,174 |
At 30 April 2023 | - | 185,630 | 123,156 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2023 | 106,627 | 75,082 | 1,036,263 |
Additions | - | - | 5,835 |
At 30 April 2024 | 106,627 | 75,082 | 1,042,098 |
DEPRECIATION |
At 1 May 2023 | 71,693 | 62,870 | 680,331 |
Charge for year | 8,712 | 4,716 | 106,743 |
At 30 April 2024 | 80,405 | 67,586 | 787,074 |
NET BOOK VALUE |
At 30 April 2024 | 26,222 | 7,496 | 255,024 |
At 30 April 2023 | 34,934 | 12,212 | 355,932 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
8. | TANGIBLE FIXED ASSETS - continued |
Company |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
9. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
9. | FIXED ASSET INVESTMENTS - continued |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
SUBSIDIARY |
Registered office: Sycamore House, Knowlesthorpe Lane, Cross Green Industrial Estate, Leeds, LS9 0PJ |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
The company acquired the subsidiary on 9 April 2019. |
10. | STOCKS |
Group |
2024 | 2023 |
£ | £ |
Raw material stocks | 328,950 | 331,055 |
Work in Progress | 2,485,354 | 2,133,196 |
2,814,304 | 2,464,251 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2024 | 2023 | 2024 | 2023 |
£ | £ | £ | £ |
Trade debtors | 1,296,584 | 1,316,745 |
Amounts owed by group undertakings | - | - |
Other debtors | 50,000 | 260,000 | 50,000 | 260,000 |
VAT | 167,291 | 111,566 |
Prepayments | 130,074 | 115,769 |
1,643,949 | 1,804,080 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2024 | 2023 | 2024 | 2023 |
£ | £ | £ | £ |
Trade creditors | 1,215,475 | 1,040,091 |
Tax | 375,066 | 273,935 |
Social security and other taxes | 115,004 | 105,789 |
VAT | - | - | 33,322 | 35,910 |
Other creditors | 11,142 | 11,187 |
Directors' current accounts | 166,622 | 209,553 | 166,622 | 209,553 |
Accrued expenses | 430,900 | 524,147 |
2,314,209 | 2,164,702 |
13. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Group |
Non-cancellable | operating leases |
2024 | 2023 |
£ | £ |
Within one year | 192,000 | 192,000 |
Between one and five years | 403,609 | 595,609 |
595,609 | 787,609 |
Lease expiring 7 June 2027 |
14. | SECURED DEBTS |
Alternative Windows (Leeds) Limited, the subsidiary, has an overdraft facility which is secured by a debenture from the directors, D Barraclough and N Fletcher, and an unlimited Inter-Company Composite Guarantee between the Alternative Windows (Leeds) Holdings Limited and the subsidiary. |
15. | PROVISIONS FOR LIABILITIES |
Group | Company |
2024 | 2023 | 2024 | 2023 |
£ | £ | £ | £ |
Deferred tax | 18,762 | 34,112 | 18,762 | 34,112 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
15. | PROVISIONS FOR LIABILITIES - continued |
Group |
Deferred |
tax |
£ |
Balance at 1 May 2023 | 34,112 |
Change in corporation tax rate |
Accelerated capital allowances | (15,350 | ) |
Balance at 30 April 2024 | 18,762 |
Company |
Deferred |
tax |
£ |
Balance at 1 May 2023 |
Provided during year | ( |
) |
Balance at 30 April 2024 |
16. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
17. | RESERVES |
Group |
Retained |
earnings |
£ |
At 1 May 2023 | 3,241,651 |
Profit for the year | 1,402,125 |
Dividends | (636,000 | ) |
At 30 April 2024 | 4,007,776 |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
17. | RESERVES - continued |
Company |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 May 2023 | 2,352,815 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 30 April 2024 | 2,411,140 |
18. | PENSION COMMITMENTS |
The Group pays into defined contribution schemes for its directors' and senior staff members and Nest for the remaining employees. |
The total employers pension costs in the year were £55,901 (2023 : £51,264) |
The total pension contribution amounts owing at 30 April 2024 were £4,135 (2023 : £8,388). |
ALTERNATIVE WINDOWS (LEEDS) HOLDINGS LTD (REGISTERED NUMBER: 11822899) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
19. | RELATED PARTY DISCLOSURES |
Alternative Windows (Leeds) Holdings Limited, the company, is the parent of a wholly owned subsiduary, Alternative Windows (Leeds) Limited. |
The Company is controlled by its directors, DA Barraclough and NM Fletcher, by virtue of the fact that between them they own the whole of the Company's share capital. |
At 30 April 2024 Alternative Windows (Leeds) Limited, the subsidiary, owed the Company £1,291,790 (2023: £1,947,627). |
At 30 April 2024 the company owed the directors the following amounts; |
D Barraclough £83,311 (2023: £104,777) |
N Fletcher £83,311 (2023: £104,777) |
During the year the Company received dividends from the Subsidiary totalling £480,000 (2023: £630,000) |
During the year the Company voted dividends to the Directors totalling £636,000 (2023: £720,000) |
During the year to 30 April 2024 the Company, had the following transactions with Alternative Windows (Leeds) Ltd, the subsidiary; |
The Company charged the Subsidiary management charges totalling £530,000 (2023: £520,000). |
The Company charged the Subsidiary equipment and vehicle hire charges totalling £240,000 (2023: £240,000). |
During the year to 30 April 2024 the company received a repayment of £210,000 towards a loan from Westmanor Designs Limited, a company controlled by D Barraclough. The balance outstanding at 30 April 2024 was £50,000 (2023: £260,000 ) |