| REGISTERED NUMBER: |
| ASH & LACY AUTOMOTIVE HOLDINGS LIMITED |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| REGISTERED NUMBER: |
| ASH & LACY AUTOMOTIVE HOLDINGS LIMITED |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| ASH & LACY AUTOMOTIVE HOLDINGS LIMITED (REGISTERED NUMBER: 13552947) |
| 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 | 6 |
| ASH & LACY AUTOMOTIVE HOLDINGS LIMITED |
| Company Information |
| for the year ended 31 December 2024 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| CUBO Birmingham |
| 4th Floor |
| Two Chamberlain Square |
| Birmingham |
| West Midlands |
| B3 3AX |
| ASH & LACY AUTOMOTIVE HOLDINGS LIMITED (REGISTERED NUMBER: 13552947) |
| Statement of Financial Position |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Investments | 4 |
| Current assets |
| Debtors | 5 |
| Net current assets |
| Total assets less current liabilities |
| Capital and reserves |
| Called up share capital | 6 |
| Capital redemption reserve | 7 |
| Retained earnings | 7 | 2,500,000 | - |
| Shareholders' funds |
| 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. |
| ASH & LACY AUTOMOTIVE HOLDINGS LIMITED (REGISTERED NUMBER: 13552947) |
| Statement of Financial Position - continued |
| 31 December 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ASH & LACY AUTOMOTIVE HOLDINGS LIMITED (REGISTERED NUMBER: 13552947) |
| Notes to the Financial Statements |
| for the year ended 31 December 2024 |
| 1. | Statutory information |
| Ash & Lacy Automotive Holdings Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| 3. | Employees and directors |
| The average number of employees during the year was NIL (2023 - NIL). |
| ASH & LACY AUTOMOTIVE HOLDINGS LIMITED (REGISTERED NUMBER: 13552947) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 4. | Fixed asset investments |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| At 1 January 2024 |
| and 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
| Registered office: Ash & Lacy House, Alma Street, Smethwick, West Midlands, United Kingdom, B66 2RL |
| Nature of business: |
| % |
| Class of shares: | holding |
| 5. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| 6. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | 0.01 | 9 | 9 |
| On 18 April 2023, the company entered into an agreement to buy back 200 of its 1,000 issued £0.01 Ordinary A shares for a total consideration of £273,000. In accordance with the agreement, the completion and payment is being executed in 5 separate tranches over a 4 year period. On 18 April 2024, a second tranche of 30 Ordinary A shares was completed for a consideration payment of £40,950, taking the total completed to date to 130 £0.01 Ordinary A shares. The purchase of the remaining 70 £0.01 Ordinary A shares is due to be completed in 3 further tranches, each at the anniversary date of exchange. |
| ASH & LACY AUTOMOTIVE HOLDINGS LIMITED (REGISTERED NUMBER: 13552947) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 7. | Reserves |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2024 | 1 |
| Profit for the year | - |
| Purchase of own shares | (40,950 | ) | - | (40,950 | ) |
| At 31 December 2024 | 2,500,001 |
| 8. | Post balance sheet events |
| On 1st April 2025, the company acquired the entire issued share capital of Vestatec UK Limited for a consideration of £7.25m (including £1.85m deferred consideration) and was funded through a combination of £2m bank borrowings and working capital. Vestatec UK Limited manufactures precision automotive components and specialises in complex metal forming and technical coating, delivering the aesthetic performance demanded by world-wide automotive brands. Often working directly with high performance and super luxury car manufacturers, the business has a reputation for engineering excellence and high quality. |
| 9. | Ultimate controlling party |