IRIS Accounts Production v25.1.4.42 00360355 Board of Directors 1.12.23 30.11.24 30.11.24 Medium entities The company and group continues to be primarily engaged in the production, specification and supply of architectural ironmongery, access control and door egress equipment, washroom equipment and residential timber door sets to the construction industry. true true false true true false false false true true false Defined benefit pension plans These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. 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REGISTERED NUMBER: 00360355 (England and Wales)







STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

ALLGOOD HOLDINGS LIMITED

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


ALLGOOD HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: A M Carter-Clout
G P Shirville





REGISTERED OFFICE: 63/83 Brearley Street
Birmingham
West Midlands
B19 3NT





REGISTERED NUMBER: 00360355 (England and Wales)





AUDITORS: Prime
Chartered Accountants
Statutory Auditor
161 Newhall Street
Birmingham
B3 1SW

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024



PRINCIPAL RISKS AND UNCERTAINTIES
The directors present their strategic report along with the financial statements of the company and the group for the year ended 30 November 2024.

The directors seek to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year-end. The report is consistent with the size and nature of the business.

ACTIVITIES AND STRATEGY
The company is a non-trading holding company for Allgood Limited and is the intermediate parent of the Allgood group.

The company aims to continue its support of the Allgood Limited group and raise income from its properties and its participating interest in Key Technologies International Limited.

BUSINESS PERFORMANCE
The results and financial position of the company are detailed in the financial statements. During the year the
company received rental income from group subsidiaries along with dividends from its associate.

The operating loss was £246,626, which compares with a loss in 2023 of £340,160.

There was a total comprehensive income of £3,094,483, (2023: £3,294,150 loss) in the year, an improvement on last year, attributable to a reversal of an impairment loss on investments in subsidiaries of £341,997 (2023: £816,038 loss), and an actuarial gain on the pension scheme of £3,664,000 (2023: £3,393,000 loss). The scheme remains in surplus and in addition to this, the company remains committed to the pension scheme and continues to meet its current commitments to the scheme.

PRINCIPAL RISKS AND UNCERTAINTIES
The company has identified its exposure to movements in the pension liability as a principal risk and uncertainty. The company's pension scheme Allgood Holdings Limited Pension and Life Assurance Scheme ("the scheme") faces similar risks to other UK defined benefit schemes, including low investment returns, inflation, increases in life expectancy and regulatory changes, which may mean the pension scheme becomes more of a financial burden.

The last Actuarial Valuation as at 31 March 2023 has been projected to 30 November 2024 with an allowance for actual cashflows.

The pension surplus is calculated as the value of assets less liabilities and is influenced by the level of contributions paid by the company. There are a number of factors that can affect liabilities, including expected investment return at the valuation date. If lower future investment return is assumed this will reduce the scheme assets and the surplus, potentially returning it to a deficit and liability. The Trustees and the company regularly review investment performance and an investment strategy has been implemented to mitigate the impact of any increases in liabilities. This ensures there is a reasonable balance between risk and return. Whilst the current surplus has enabled the company to benefit from being able to defer deficit funding contributions, the company's current cash resource also provide some protection against the impact of potential changes in the funding position of the scheme. The funding liabilities also include a buffer against future negative experience, as current legislation requires the calculation of liabilities to be on a prudent basis.

The directors do not consider there to be any other risks or uncertainties affecting the company that are material to the assessment of its loss or financial position.


ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

EVENTS SINCE THE END OF THE YEAR
There are no other events since the end of the year relevant to this report.

ON BEHALF OF THE BOARD:





A M Carter-Clout - Director


10 July 2025

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 NOVEMBER 2024


The directors present their report with the financial statements of the company for the year ended 30 November 2024.

DIVIDENDS
No dividends were paid in the year ended 30 November 2024 (2023: £Nil).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 December 2023 to the date of this report.

A M Carter-Clout
G P Shirville

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Prime, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A M Carter-Clout - Director


10 July 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALLGOOD HOLDINGS LIMITED


Opinion
We have audited the financial statements of Allgood Holdings Limited (the 'company') for the year ended 30 November 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 November 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

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

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

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

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALLGOOD HOLDINGS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALLGOOD HOLDINGS LIMITED


We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC and other relevant parties.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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.




Morgan Davies FCA (Senior Statutory Auditor)
for and on behalf of Prime
Chartered Accountants
Statutory Auditor
161 Newhall Street
Birmingham
B3 1SW

16 July 2025

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

INCOME STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   

TURNOVER - -

Administrative expenses 302,366 395,900
(302,366 ) (395,900 )

Other operating income 55,740 55,740
OPERATING LOSS 4 (246,626 ) (340,160 )

Income from participating interests 201,234 234,134
Other finance income 13 40,000 186,000
241,234 420,134
(5,392 ) 79,974
Amounts written off investments 5 (341,997 ) 816,038
PROFIT/(LOSS) BEFORE TAXATION 336,605 (736,064 )

Tax on profit/(loss) 6 - -
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

336,605

(736,064

)

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024 2023
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 336,605 (736,064 )


OTHER COMPREHENSIVE INCOME/(LOSS)

Transfers from capital distribution 19,878 33,164
Actuarial gain/(loss) on pension
liability 3,664,000 (3,393,000 )
Income tax relating to components of
other comprehensive income/(loss)

(926,000

)

801,750
OTHER COMPREHENSIVE
INCOME/(LOSS) FOR THE YEAR, NET
OF INCOME TAX


2,757,878


(2,558,086


)
TOTAL COMPREHENSIVE
INCOME/(LOSS) FOR THE YEAR

3,094,483

(3,294,150

)

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 1,244,062 1,262,026
Investments 8 1,487,549 1,125,674
2,731,611 2,387,700

CURRENT ASSETS
Debtors 9 154,690 -
Cash at bank 541,999 757,240
696,689 757,240
CREDITORS
Amounts falling due within one year 10 13,349 46,472
NET CURRENT ASSETS 683,340 710,768
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,414,951

3,098,468

PENSION ASSET 13 3,412,500 634,500
NET ASSETS 6,827,451 3,732,968

CAPITAL AND RESERVES
Called up share capital 11 201,667 201,667
Revaluation reserve 12 939,563 939,563
Capital redemption reserve 12 106,140 106,140
Capital distribution reserve 12 - (19,878 )
Retained earnings 12 5,580,081 2,505,476
SHAREHOLDERS' FUNDS 6,827,451 3,732,968

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2025 and were signed on its behalf by:





A M Carter-Clout - Director


ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024

Called up
share Retained Revaluation
capital earnings reserve
£    £    £   
Balance at 1 December 2022 201,667 5,832,790 939,563

Changes in equity
Total comprehensive loss - (3,327,314 ) -
Balance at 30 November 2023 201,667 2,505,476 939,563

Changes in equity
Total comprehensive income - 3,074,605 -
Balance at 30 November 2024 201,667 5,580,081 939,563
Capital Capital
redemption distribution Total
reserve reserve equity
£    £    £   
Balance at 1 December 2022 106,140 (53,042 ) 7,027,118

Changes in equity
Total comprehensive loss - 33,164 (3,294,150 )
Balance at 30 November 2023 106,140 (19,878 ) 3,732,968

Changes in equity
Total comprehensive income - 19,878 3,094,483
Balance at 30 November 2024 106,140 - 6,827,451

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


1. STATUTORY INFORMATION

Allgood 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 (FRS 102) "The Financial Reporting Standard applicable in the UK and Republic of Ireland", issued by the Financial Reporting Council and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, where required by FRS 102.

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

the requirements of Section 7 Statement of Cash Flows;
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c);
the requirement of paragraph 33.7.

The results of the company are consolidated in the ultimate parent's financial statements and these can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

Preparation of consolidated financial statements
The financial statements contain information about Allgood Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Carterville Limited, registered in England and Wales.

Going Concern
The underlying rates of sales order intake and quotations for new projects in the group trading companies have both increased during the first 6 months of the new financial year. Therefore, at the time of approving the financial statements, the directors expect the company to have adequate resources to continue in operational existence for the foreseeable future, being a period of not less than 12 months from the approval of these financial statements. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision effects both current and future periods.

Significant judgements and estimates - continued
In preparing these financial statements, the directors have made the following judgements:

The company reviews the carrying value of all assets for indications of impairment at each period. If indicators of impairment exist, the carrying value of the asset is subject to further testing to determine whether its carrying value exceeds its recoverable amount. This process will usually involve the estimation of future cash flows which are likely to be generated by the asset.

A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flows at a rate that reflects the time value of money and the risk specific to the liability.

Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and management's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

The directors have reviewed the asset lives and associated residual values of all fixed assets classes. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projects disposal values.

In preparing these accounts the directors have made the following significant estimates:

The financial statements include a net defined benefit pension scheme liability, which comprise of expected future liabilities in excess of the scheme assets. The liabilities represent costs expected to be incurred in making pension payments to current and past employees who are members of the scheme.

The valuation of the pension scheme liability is determined on an actuarial basis using the Projected Unit Method. Assumptions are also made about mortality of the beneficiaries of the pension scheme and future rates of inflation. The assumptions underlying this calculation are disclosed in note 13.

Significant changes to the assumptions underlying these calculations over the next financial year could result in significant changes to the carrying value of the pension scheme liability.

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost, Straight line over 15 years and Straight line over 10 years
Fixtures and fittings - 20% on cost

The directors have adopted a policy of revaluation with regards to Freehold Property.

Freehold property is carried at its revalued amount, being fair value at the date of valuation less subsequent losses arising from impairment reviews. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure the carrying amount does not differ materially from those that would be determined using fair values at the end of each accounting period.

Any revaluation increase in the carrying amount of freehold property is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit and loss, in which case the increase is credited to the profit and loss to the extent that the previous decrease is expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against the revaluation reserve in equity; decreases exceeding the balance in the revaluation reserve relating to an asset are recognised in profit or loss.

Financial instruments
(i) Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

(ii) Financial assets and liabilities

All financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset at the balance sheet date when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments that have no stated interest rate and are classified as payable or receivable within one year are initially measured at an undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment. Other debt instruments not meeting these conditions are measured at fair value through profit and loss.

Commitments to make or receive loans which meet the conditions mentioned above are measure at cost less impairment.

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments - continued
Financial assets are derecognised when and only when the contractual rights to the cash flows for the financial asset expire or are settled, when the company transfers to another party substantially all the risks and rewards of ownership of the financial asset, or the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

(iii) Investments

In the company balance sheet, investments in subsidiaries and associates are measured at cost less impairment.

Investments in non-puttable ordinary shares, which are publicly traded, are measured at fair value through profit and loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

(iv) Equity instruments

Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs.

(v) Fair value measurement

The best evidence of fair value is a quoted price for an identical asset on an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant changes in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated using a valuation technique.

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

Current or deferred taxation assets and liabilities are not discounted.

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

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

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

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

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


2. ACCOUNTING POLICIES - continued

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that balance sheet date. Transactions in foreign currencies are recorded at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

For financial assets carried at amortised costs, the amount of an impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for the decrease in impairment loss, and the decrease can be related objectively to an event occuring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 100,000 100,000
Social security costs 11,289 11,411
111,289 111,411

The average number of employees during the year was as follows:
2024 2023

Administration 2 2

2024 2023
£    £   
Directors' remuneration 100,000 100,000

4. OPERATING LOSS

The operating loss is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 17,964 18,328
Auditors' remuneration 10,833 9,600

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


5. AMOUNTS WRITTEN OFF INVESTMENTS
2024 2023
£    £   
Loss in movement in
fair value of investments 3 816,038
Impairment in shares in group
undertakings

(342,000

)

-
(341,997 ) 816,038

6. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 30 November 2024 nor for the year ended 30 November 2023.

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

2024 2023
£    £   
Profit/(loss) before tax 336,605 (736,064 )
Profit/(loss) multiplied by the standard rate of corporation tax in the
UK of 25% (2023 - 19%)

84,151

(139,852

)

Effects of:
Expenses not deductible for tax purposes - 1,052
Income not taxable for tax purposes (135,808 ) (44,485 )
Depreciation in excess of capital allowances 4,491 3,466

Adjustment in respect of pension liability charge (10,000 ) (35,340 )
Losses carried forward to future periods 57,166 60,119


Impairment loss not deductible for tax purposes - 155,040
Total tax charge - -

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Transfers from capital distribution 19,878 - 19,878
Actuarial gain/(loss) on pension
liability 3,664,000 (926,000 ) 2,738,000
3,683,878 (926,000 ) 2,757,878


ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


6. TAXATION - continued
2023
Gross Tax Net
£    £    £   
Transfers from capital distribution 33,164 - 33,164
Actuarial gain/(loss) on pension
liability (3,393,000 ) 801,750 (2,591,250 )
(3,359,836 ) 801,750 (2,558,086 )

Deferred tax of £108,131 (2023: £112,622) arises on unrealised gains on the revaluing of freehold property to its fair value. No provision for deferred tax has been made due to the offset of trading losses carried forward as below.

Trading losses totalling £6,245,798 (2023: £6,017,136), are available for carry forward to be relieved against future profits. Due to uncertainties over its recoverability, a deferred tax asset of £1,561,450 (2023: £1,504,284) relating to corporation tax losses has not been recognised.

7. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 December 2023
and 30 November 2024 1,283,200 6,227 1,289,427
DEPRECIATION
At 1 December 2023 21,174 6,227 27,401
Charge for year 17,964 - 17,964
At 30 November 2024 39,138 6,227 45,365
NET BOOK VALUE
At 30 November 2024 1,244,062 - 1,244,062
At 30 November 2023 1,262,026 - 1,262,026

Cost or valuation at 30 November 2024 is represented by:

Fixtures
Freehold and
property fittings Totals
£    £    £   
Valuation in 2007 320,476 - 320,476
Valuation in 2011 (46,000 ) - (46,000 )
Valuation in 2016 82,501 - 82,501
Valuation in 2022 412,532 - 412,532
Cost 513,691 6,227 519,918
1,283,200 6,227 1,289,427

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


7. TANGIBLE FIXED ASSETS - continued

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 513,691 513,691
Aggregate depreciation 243,501 233,227

Value of land in freehold land and buildings 225,000 225,000

A valuation of freehold property was performed as at 15 September 2022 by Aitchison Raffety Property Consultants, who are external valuers. The basis of valuation was fair value as defined by RICS Valuation - Professional Standards.

The directors deem this valuation to still represent the fair value of the freehold property as at 30 November 2024.

8. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Shares in group undertakings 771,000 429,000
Loans to group undertakings 716,333 696,455
Participating interests 183 183
Other investments not loans 33 36
1,487,549 1,125,674

Additional information is as follows:
Interest
Shares in in other
group participating Listed
undertakings interests investments Totals
£    £    £    £   
COST
At 1 December 2023 429,000 183 2,468 431,651
Reversal of impairments 342,000 - - 342,000
At 30 November 2024 771,000 183 2,468 773,651
PROVISIONS
At 1 December 2023 - - 2,432 2,432
Provision for year - - 3 3
At 30 November 2024 - - 2,435 2,435
NET BOOK VALUE
At 30 November 2024 771,000 183 33 771,216
At 30 November 2023 429,000 183 36 429,219

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


8. FIXED ASSET INVESTMENTS - continued

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

Subsidiaries

Allgood Limited
Registered office: 63-83 Brearley Street, Birmingham, B19 3NT
Nature of business: Architectural ironmongery
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (339,345 ) (617,650 )
Profit/(loss) for the year 260,540 (1,509,423 )

Allgood Secure Limited
Registered office: 63-83 Brearley Street, Birmingham, B19 3NT
Nature of business: Access control and security products
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,054,848 861,353
Profit for the year 193,495 348,566

Allgood Manufacturing Limited
Registered office: 63-83 Brearley Street, Birmingham, England, B19 3NT
Nature of business: Manufacture of architectural hardware
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 318,738 290,694
Profit for the year 28,044 19,826

Associated company

Key Technologies International Limited
Registered office: Suite 1111, Metro Loft,38 Kwai Hei Street, Kwai Chung,Hong Kong
Nature of business: Architectural ironmongery
%
Class of shares: holding
Ordinary 33.33
2024 2023
£    £   
Aggregate capital and reserves 5,199,915 5,709,179
Profit for the year 388,496 610,456

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


8. FIXED ASSET INVESTMENTS - continued
Loans to
group
undertakings
£   
At 1 December 2023 696,455
Transfer from capital
distribution reserve 19,878
At 30 November 2024 716,333

Listed investments represent investments in non-puttable ordinary shares. The fair value of listed investments at the year end was £33 (2023: £36). These values have been determined with reference to the quoted market price at the reporting date.

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 154,690 -

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings - 1,292
Accrued expenses 13,349 45,180
13,349 46,472

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,016,670 Ordinary 10p 201,667 201,667

Ordinary shares are non-redeemable and have full and equal rights as to voting, dividends and return of capital in the event of a winding up.

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


12. RESERVES
Capital Capital
Retained Revaluation redemption distribution
earnings reserve reserve reserve Totals
£    £    £    £    £   

At 1 December 2023 2,505,476 939,563 106,140 (19,878 ) 3,531,301
Profit for the year 336,605 - - - 336,605
Actuarial gain/(loss) on
pension liability 3,664,000 - - - 3,664,000
Deferred tax on actuarial gain
/(loss) on pension liability (926,000 ) - - - (926,000 )
Release of capital
distribution in the year - - - 19,878 19,878
At 30 November 2024 5,580,081 939,563 106,140 - 6,625,784

The company's reserves are as follows:

The retained earnings reserve represents the cumulative profits and losses, net of dividends.

The revaluation reserve represents the cumulative effect of revaluations of freehold property which is valued at fair value.

The capital redemption reserve represents the cumulative value of share capital redeemed by the company.

The capital distribution reserve represents the deemed distribution from the parent and subsidiaries in respect of loans classed as financing transactions. At the year end the reserve represented the difference between the actual and present value of a loan due to a subsidiary company, payable after more than one year.

13. EMPLOYEE BENEFIT OBLIGATIONS

The Company sponsors the Allgood Holdings Pension and Life Assurance Scheme, a funded defined benefit pension scheme in the UK. The Scheme is set up on a tax relieved basis as a separate trust independent of the Company and is supervised by independent trustees. The Trustees of the Scheme are responsible for ensuring that the correct benefits are paid, that the Scheme is appropriately funded and that Scheme assets are appropriately invested.

The Company pays the cost of the Scheme as determined by regular actuarial valuations. The Trustees are required to use prudent assumptions to value the liabilities and costs of the Scheme whereas the accounting assumptions must be best estimates.

The Company is not expected to pay any contributions towards the Scheme over the coming year as per the Schedule of Contributions signed in December 2020.

A formal actuarial valuation was carried out as at 31 March 2023. The results of that valuation have been projected to 30 November 2024 with an allowance for actual cashflows and using the assumptions set out below. The figures in the following disclosure were measured using the Defined Accrued Benefit Method.

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


13. EMPLOYEE BENEFIT OBLIGATIONS - continued

The amounts recognised in the balance sheet are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Present value of funded obligations (28,461,000 ) (32,110,000 )
Fair value of plan assets 33,011,000 32,956,000
4,550,000 846,000
Present value of unfunded obligations - -
Surplus 4,550,000 846,000
Deferred tax liability (1,137,500 ) (211,500 )
Net asset 3,412,500 634,500

The amounts recognised in profit or loss are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Current service cost - -
Net interest from net defined benefit
asset/liability

(40,000

)

(186,000

)
Past service cost - -
(40,000 ) (186,000 )

Actual return on plan assets 1,447,000 (3,394,000 )

The current and past service costs, settlements and curtailments, together with the net interest expense for the year are included in profit and loss. Remeasurement of the net defined benefit liability are included in Other Comprehensive Income.

Changes in the present value of the defined benefit obligation are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Opening defined benefit obligation 32,110,000 34,250,000
Interest cost 1,476,000 1,531,000
Actuarial losses/(gains) (3,733,000 ) (1,718,000 )
Benefits paid (1,392,000 ) (1,953,000 )
28,461,000 32,110,000

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


13. EMPLOYEE BENEFIT OBLIGATIONS - continued

Changes in the fair value of scheme assets are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Opening fair value of scheme assets 32,956,000 38,303,000
Expected return 1,516,000 1,717,000
Actuarial gains/(losses) (69,000 ) (5,111,000 )
Benefits paid (1,392,000 ) (1,953,000 )
33,011,000 32,956,000

The amounts recognised in other comprehensive income are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Actuarial gains/(losses) 3,664,000 (3,393,000 )
Deferred tax on actuarial gains/(losses) (926,000 ) 801,750
2,738,000 (2,591,250 )

The major categories of scheme assets as amounts of total scheme assets are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Multi asset 12,769,000 8,580,000
Bonds 13,008,000 16,413,000
Secured pensions 5,247,000 5,705,000
Property 506,000 612,000
Cash 898,000 746,000
Alternative assets 583,000 900,000
33,011,000 32,956,000

The Scheme has no investments in the company or in property occupied by the company.

Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2024 2023
Liability discount rate 5.60% 4.70%
Inflation assumptions - RPI 3.10% 3.10%
Inflation assumptions - CPI 2.75% 2.75%
Revaluation of deferred pensions 2.75% 2.75%
Average increases for pensions in payment 4.00% 4.00%

ALLGOOD HOLDINGS LIMITED (REGISTERED NUMBER: 00360355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


13. EMPLOYEE BENEFIT OBLIGATIONS - continued

20242023
Expected age at death of current pensioner at age 60:
Male85.585.8
Female88.588.5

Expected age of death of future pensioner at age 60, now aged 40:
Male86.887.0
Female89.689.7


14. ULTIMATE PARENT COMPANY

The company is a subsidiary of Carterville Limited, a company incorporated in England and Wales.

Copies of the financial statements for Carterville Limited are available from Companies House, Crown Way, Cardiff, CF14 3UZ.



15. RELATED PARTY DISCLOSURES

During the year the company paid management services of £45,000 (2023: £47,501) to Tansor Services Limited, a company in which G P Shirville and A M Carter-Clout, directors, had a material interest as directors and shareholders. All transactions were on an arms length basis and on normal commercial terms.

16. ULTIMATE CONTROLLING PARTY

No individual has overall control of the entity.