REGISTERED NUMBER: 01158835 (England and Wales)

Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 March 2025

for

The A.L.D. Plastering Company Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Income and Retained Earnings

7

Balance Sheet

8

Notes to the Financial Statements

9

DIRECTORS:

Ms S J Smith

Mr J L Smith

Mr T D Smith

SECRETARY:

Ms S J Smith

REGISTERED OFFICE:

9 Calverton Business Park

Hoyle Road

Calverton

Nottingham

Nottinghamshire

NG14 6QL

REGISTERED NUMBER:

01158835 (England and Wales)

AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

Turnover has increased by £4.1m, and gross margin decreased by 5% to 14% (2024 - 19%).

The directors are also pleased to report that their future order book is strong and they hope to maintain levels of activity in 2025/26.

PRINCIPAL RISKS AND UNCERTAINTIES

The key business risks and uncertainties affecting the company include its ability to obtain new contracts from the existing customer base, and to expand the customer base in order to grow. Whilst focusing on growth of the core business the Directors are aware that maintaining the company's ability to retain key employees helps to achieve this.

The company is exposed to the usual credit risk and cash flow risk associated with its business, and the credit terms afforded to customers, and manages this through tight credit control procedures.

ANALYSIS OF KEY PERFORMANCE INDICATORS

The board looks at turnover, margins and profitability when monitoring business performance.

Turnover has increased from £8,763,768 to £12,868,149 with gross margins of 14% (2024 - 19%). Overheads remain well controlled resulting in a net profit before taxation of £206,979.

The board also considers key balance sheet areas in order to understand the financial position of the company. Overall net assets have increased by £159,771.

Cash at bank remains healthy, and the board are satisfied that the company can continue to pay its debts as they fall due for the foreseeable future.

ON BEHALF OF THE BOARD:

Mr J L Smith - Director

11 December 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of contractors in the fields of plastering, screeding and dry lining for commercial contracts.

DIVIDENDS

Particulars of dividends paid during the year are detailed in note 8 to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

Ms S J Smith

Mr J L Smith

Mr T D Smith

Other changes in directors holding office are as follows:

Mrs E Smith ceased to be a director after 31 March 2025 but prior to the date of this report.

FINANCIAL INSTRUMENTS

Preference shares are accounted for as a liability and dividends on those shares are recorded as an expense.

QUALIFYING INDEMNITY PROVISION

The company takes out indemnity insurance on behalf of the directors.

DISCLOSURE IN THE STRATEGIC REPORT

The directors have prepared a review of the business, together with a summary of the principal risks and uncertainties affecting the company, and these are detailed within the Strategic Report.

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). 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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr J L Smith - Director

11 December 2025

Opinion

We have audited the financial statements of The A.L.D. Plastering Company Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 31 March 2025 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.

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; or

-	the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Our approach included obtaining an understanding of the legal and regulatory frameworks that are applicable to the company and we determined those that are most significant. Based on the results of our risk assessment we designed audit procedures to identify non-compliance with such laws and regulations. The specific procedures included enquiry of management and those charged with governance around actual and potential litigation and claims.

In addition, and based on the results of our risk assessment we designed audit procedures to identify and address material misstatements in relation to fraud. Specifically we considered the risk of fraud through management override that may lead to a misappropriation of assets or inappropriate financial reporting. In response, we performed audit work over the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Kevin Shaw BSc (Hons) FCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

11 December 2025

TURNOVER

3

12,868,149

8,763,768

Cost of sales

11,062,332

7,091,048

GROSS PROFIT

1,805,817

1,672,720

Administrative expenses

1,605,730

1,515,111

200,087

157,609

Other operating income

-

5,089

OPERATING PROFIT

5

200,087

162,698

Interest receivable and similar income

23,262

7,961

223,349

170,659

Interest payable and similar expenses

6

16,370

16,660

PROFIT BEFORE TAXATION

206,979

153,999

Tax on profit

7

47,208

31,649

PROFIT FOR THE FINANCIAL YEAR

159,771

122,350

Retained earnings at beginning of year

1,856,398

1,734,148

Dividends

8

-

(100

)

RETAINED EARNINGS AT END OF YEAR

2,016,169

1,856,398

FIXED ASSETS

Tangible assets

9

281,176

243,295

CURRENT ASSETS

Stocks

10

26,250

26,250

Debtors

11

3,052,151

2,693,186

Cash at bank and in hand

789,105

1,130,818

3,867,506

3,850,254

CREDITORS

Amounts falling due within one year

12

1,914,327

1,994,255

NET CURRENT ASSETS

1,953,179

1,855,999

TOTAL ASSETS LESS CURRENT LIABILITIES

2,234,355

2,099,294

CREDITORS

Amounts falling due after more than one year

13

218,086

242,796

NET ASSETS

2,016,269

1,856,498

CAPITAL AND RESERVES

Called up share capital

17

100

100

Retained earnings

18

2,016,169

1,856,398

SHAREHOLDERS' FUNDS

2,016,269

1,856,498

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2025 and were signed on its behalf by:

Mr J L Smith - Director

1.	STATUTORY INFORMATION

The A.L.D. Plastering Company 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity rounded to the nearest £.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption 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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effects on amounts recognised in the financial statements.

Accounting for long term contracts - revenue and profit is estimated on contracts that are not complete at the year end by reference to stage of completion and expected profit.

Turnover

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

For long term contracts, turnover represents the value of work done in the year and is determined by reference to the stage of completion of each contract.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures, fittings and equipment

-

20% on reducing balance and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving stock.

Cost comprises purchase price or direct production cost together with attributable overheads.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

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.

Hire purchase and leasing commitments

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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.

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Plastering and contracting

12,868,149

8,763,768

12,868,149

8,763,768

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

12,868,149

8,763,768

12,868,149

8,763,768

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,911,015

2,071,027

Social security costs

232,019

250,460

Other pension costs

47,363

242,530

2,190,397

2,564,017

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

2025

2024

Production

14

15

Administration

17

23

31

38

2025

2024

£

£

Directors' remuneration

863,716

990,357

Directors' pension contributions to money purchase schemes

23,584

209,577

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

3

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

298,543

335,554

Pension contributions to money purchase schemes

15,184

51,899

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Hire costs

590,290

178,003

Other operating leases

77,485

81,344

Depreciation - owned assets

65,812

58,761

Loss/(profit) on disposal of fixed assets

823

(2,376

)

Auditors' remuneration

12,600

12,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

32

-

Hire purchase

3,738

4,060

Dividends paid on shares

categorised as debt

12,600

12,600

16,370

16,660

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

46,443

22,518

Adjustments in respect of

previous periods

765

9,131

Tax on profit

47,208

31,649

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:

2025

2024

£

£

Profit before tax

206,979

153,999

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

51,745

38,500

Effects of:

Expenses not deductible for tax purposes

4,295

3,670

Capital allowances in excess of depreciation

(9,597

)

(19,652

)

Adjustments to tax charge in respect of previous periods

765

9,131

Total tax charge

47,208

31,649

8.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Final

-

100

9.	TANGIBLE FIXED ASSETS

Fixtures,

Improvements

fittings

to

Plant and

and

Motor

property

machinery

equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

44,685

176,686

138,944

213,844

574,159

Additions

-

68,594

22,013

23,495

114,102

Disposals

-

-

-

(25,745

)

(25,745

)

At 31 March 2025

44,685

245,280

160,957

211,594

662,516

DEPRECIATION

At 1 April 2024

11,916

143,455

112,820

62,673

330,864

Charge for year

1,787

16,857

6,743

40,425

65,812

Eliminated on disposal

-

-

-

(15,336

)

(15,336

)

At 31 March 2025

13,703

160,312

119,563

87,762

381,340

NET BOOK VALUE

At 31 March 2025

30,982

84,968

41,394

123,832

281,176

At 31 March 2024

32,769

33,231

26,124

151,171

243,295

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

Motor vehicles - £65,475 (2024 - £87,300).

10.

STOCKS

2025

2024

£

£

Raw materials

26,250

26,250

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,672,172

1,166,821

Amounts owed by group undertakings

1,158,553

1,399,153

Other debtors

7,008

8,438

VAT

69,645

34,620

Prepayments

144,773

84,154

3,052,151

2,693,186

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 15)

21,541

22,124

Trade creditors

503,197

615,944

Amounts owed to group undertakings

80,520

59,163

Tax

46,443

31,649

Social security and other taxes

152,859

191,120

Other creditors

117,238

94,597

Directors' loan accounts

275,131

59,442

Accruals and deferred income

717,398

920,216

1,914,327

1,994,255

The hire purchase creditor is secured on the assets to which it relates.

13.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Preference shares (see note 14)

180,000

180,000

Hire purchase contracts (see note 15)

38,086

62,796

218,086

242,796

The hire purchase creditor is secured on the assets to which it relates.

14.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due between one and two years:

Preference shares

180,000

180,000

15.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

21,541

22,124

Between one and five years

38,086

62,796

59,627

84,920

Non-cancellable

operating leases

2025

2024

£

£

Within one year

102,504

93,251

Between one and five years

92,626

136,817

195,130

230,068

16.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

59,627

84,920

Hire purchase contract liabilities are secured against the assets to which they relate.

17.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100