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REGISTERED NUMBER: 07693633 (England and Wales)















ASH & LACY HOLDINGS LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2024






ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)






Contents of the Financial Statements
for the year ended 31 December 2024




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 2024







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





Registered office: Ash & Lacy House
Alma Street
Smethwick
West Midlands
B66 2RL





Registered number: 07693633 (England and Wales)





Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
4th Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Statement of Financial Position
31 December 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 199,386 226,365
Tangible assets 5 1,458,660 950,037
Investments 6 1 1
1,658,047 1,176,403

Current assets
Debtors 7 6,276,851 3,825,490
Cash at bank - 13,679
6,276,851 3,839,169
Creditors
Amounts falling due within one year 8 4,146,472 2,523,494
Net current assets 2,130,379 1,315,675
Total assets less current liabilities 3,788,426 2,492,078

Creditors
Amounts falling due after more than
one year

9

(524,419

)

(133,573

)

Provisions for liabilities 11 (192,176 ) (30,481 )
Net assets 3,071,831 2,328,024

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Statement of Financial Position - continued
31 December 2024

2024 2023
Notes £ £ £ £
Capital and reserves
Called up share capital 12 200,000 200,000
Capital redemption reserve 13 40,000 40,000
Retained earnings 13 2,831,831 2,088,024
Shareholders' funds 3,071,831 2,328,024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 14 July 2025 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 2024

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 2024

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 2024

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.

Assets held under finance leases are recognised initially at the fair value of the leased asset or, if lower, the present value of minimum lease payments at the inception of the lease. The corresponding liability is included in the statement of financial position as ‘obligations under finance leases’ with creditors. Lease payments are apportioned between finance charges and reduction of the lease liability using the effective interest method so as to achieve a constant rate of interest on the remaining balance of the liability. Assets held under finance leases are included in tangible fixed assets and are depreciated and assessed for impairment losses in the same way as owned assets.

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 2024

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 26 (2023 - 29 ) .

4. Intangible fixed assets
Patents and Computer
Goodwill licences software Totals
£ £ £ £
Cost
At 1 January 2024 24,612 414,084 847,145 1,285,841
Additions - 27,948 - 27,948
At 31 December 2024 24,612 442,032 847,145 1,313,789
Amortisation
At 1 January 2024 24,612 187,719 847,145 1,059,476
Amortisation for year - 54,927 - 54,927
At 31 December 2024 24,612 242,646 847,145 1,114,403
Net book value
At 31 December 2024 - 199,386 - 199,386
At 31 December 2023 - 226,365 - 226,365

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

5. Tangible fixed assets
Fixtures
Long Plant and and
leasehold machinery fittings
£ £ £
Cost
At 1 January 2024 235,236 28,960 828,874
Additions 79,208 624,115 126,060
At 31 December 2024 314,444 653,075 954,934
Depreciation
At 1 January 2024 165,397 28,960 317,874
Charge for year 41,903 14,423 184,121
At 31 December 2024 207,300 43,383 501,995
Net book value
At 31 December 2024 107,144 609,692 452,939
At 31 December 2023 69,839 - 511,000

Motor Computer
vehicles equipment Totals
£ £ £
Cost
At 1 January 2024 21,817 862,750 1,977,637
Additions 26,767 129,438 985,588
At 31 December 2024 48,584 992,188 2,963,225
Depreciation
At 1 January 2024 2,424 512,945 1,027,600
Charge for year 8,016 228,502 476,965
At 31 December 2024 10,440 741,447 1,504,565
Net book value
At 31 December 2024 38,144 250,741 1,458,660
At 31 December 2023 19,393 349,805 950,037

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

6. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 January 2024
and 31 December 2024 1
Net book value
At 31 December 2024 1
At 31 December 2023 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
2024 2023
£ £
Trade debtors 2,755,305 1,498,835
Other debtors 2,837,920 2,097,879
Directors' loan accounts 545,198 165,000
Prepayments 138,428 63,776
6,276,851 3,825,490

8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 70,082 17,343
Hire purchase contracts 92,842 125,111
Trade creditors 631,002 580,499
Corporation tax 210,564 48,508
Social security and other taxes 94,375 616,672
VAT 285,766 283,009
Other creditors 2,653,563 743,492
Accruals and deferred income 108,278 108,860
4,146,472 2,523,494

9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Hire purchase contracts 524,419 133,573

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

10. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans - 17,343
Hire purchase contracts 617,261 258,684
617,261 276,027

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
2024 2023
£ £
Deferred tax
Accelerated capital allowances 192,176 30,481

Deferred tax
£
Balance at 1 January 2024 30,481
Provided during year 161,695
Balance at 31 December 2024 192,176

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
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

ASH & LACY HOLDINGS LIMITED (REGISTERED NUMBER: 07693633)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

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

At 1 January 2024 2,088,024 40,000 2,128,024
Profit for the year 948,707 948,707
Dividends (204,900 ) (204,900 )
At 31 December 2024 2,831,831 40,000 2,871,831

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 and cross guarantees

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 2024 was £nil (2023: £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 2024

15. Related party disclosures

As at 31 December 2024, Dr J L Evans owed the company £545,198 (2023: £165,000) 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 2024 2023
£    £    £    £   
Ash & Lacy Building Systems Limited 2,000,000 853 (865,570 ) 787,454
Ash & Lacy Solutions Limited 1,850,000 - 274,946 322,839
Ash & Lacy Finishes Limited 75,000 - 702,071 628,541
Ash & Lacy Perforating Limited 200,000 7,005 202,987 (74,315 )
Ash & Lacy Automotive Limited 1,400,000 - 1,325,172 (275,170 )
Halo Solar Limited - - 1,314,985 1,438,230

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

The company's immediate and ultimate parent company is Ash & Lacy Group Limited, whose registered office address is Ash & Lacy House, Alma Street, Smethwick, West Midlands, United Kingdom, B66 2RL

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