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Registered number:
FOR THE YEAR ENDED 30 JUNE 2025
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AT HOLDINGS LIMITED
COMPANY INFORMATION
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AT HOLDINGS LIMITED
CONTENTS
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AT HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
The director presents his strategic report for the company and the group for the year ended 30 June 2025.
The Group's trading results for the financial year are shown in the Profit and loss account.
A T Holdings Limited holds investment in subsidiary ASW Property Services Limited.
Established in 1983, ASW Property Services Limited (Formerly A.S. Wellington Building & Maintenance Ltd as an indigenous Welsh company providing specialist construction services delivering a wide range of maintenance and refurbishment services to Local Authority, Housing Association and Private Commercial clients across the whole of Wales and the South West.
Centrally located in South Wales we provide a national service using locally based people working in partnership with our clients delivering a wide range of improvement programmers comprising of: - Reactive Maintenance including 24/7 Emergency Response - Planned Maintenance works which include kitchen and bathroom refurbishments, plumbing and central heating installation, electrical installations and upgrades, EWI schemes and external works - Void Refurbishment works - Disabled Adaption works - Facility Management Services - Other specialist refurbishment and improvement works We specialise in delivering works to the Welsh Housing Quality Standard to occupied properties using a trained and experienced multi-skilled workforce. Currently 85% of our work is carried out in occupied properties for tenants from a wide range of backgrounds and a diverse range of individual needs. Our workforce, including female carpenters and team leaders are supported by a dedicated, professional team providing customer service and tenant liaison management. We are fully ISO 9001:2008 Accredited with Acclaim SIPP status and are PAS 2030 accredited for External Wall Insulation works.
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AT HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
The management of the business and the execution of the group's strategy are subject to a number of risks. The key business risks and uncertainties affecting the group are considered to relate to competition from competitors and employee retention. The group manages these risks by providing value added services to its customers, having fast response times to customers queries and maintaining strong relationships with its customers and employees.
Credit Risks The group's credit risk is primarily attributable to "amounts recoverable on contracts". The amounts are presented net of allowance for doubtful debts. The credit risk on liquid funds is limited because the counter parties are banks with high credit-ratings assigned by international credit rating agencies. The company has no significant concentration of credit risk with exposure spread over a number of counter parties and customers. In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations, the group monitors and actively manages its working capital. The group has no bank borrowings and holds sufficient reserves of cash for any likely movement in its requirements for funding working capital. The director will revisit the appropriateness of this policy should the group's operations change in size or nature. Health and Safety Safety is a key priority of the group with strenuous efforts made to ensure that contracts are managed in a safe, healthy and environmentally controlled manner. The group is committed to providing high level training to all its managers and employees to ensure health and safety standards are maintained. Going Concern The financial statements have been prepared on a going concern basis which assumes that the group will continue in operational existence for the foreseeable future. The director has reviewed the balance sheet, the likely future cash flows of the business and has considered the facilities that are in place at the date of signing the report. The group's ability to continue as a going concern is dependent on its providers of working capital, maintaining the existing level of funding on terms and conditions similar to those currently in place. At the time of approving the financial statements, the director has a reasonable expectation that the group has adequate resources to continue in operational existence for foreseeable future.
The Group's key performance indicators are Turnover and Gross Profit Margin.
Turnover has decreased by 18% from the prior year. Turnover has decreased from £22m in 2024 to £18m in 2025.
Gross Profit margin has increased from 13% in 2024 to 16% in 2025.
This report was approved by the board and signed on its behalf.
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AT HOLDINGS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 JUNE 2025
The director presents his report and the financial statements for the year ended 30 June 2025.
The director is responsible for preparing the Group Strategic Report, the Director's Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments 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 Group will continue in business.
The director is 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 the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The principal activity of the Group in the year under review was that of property maintenance.
The profit for the year, after taxation and minority interests, amounted to £112,567 (2024 - £287,464).
The director who served during the year was:
Included in the group's strategic report is a review of the business and a description of the principal risks and uncertainties facing the group.
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AT HOLDINGS LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
The auditor, MHA, previously traded through the legal entity, MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP.
The auditor, MHA, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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AT HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AT HOLDINGS LIMITED
We have audited the financial statements of AT Holdings Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 30 June 2025, which comprise the Consolidated Profit and Loss Account, the Consolidated Statement of Comprehensive Income, the Consolidated Analysis of Net Debt, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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 auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
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AT HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AT HOLDINGS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The director is responsible for the other information contained within the Annual Report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Director's Report.
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AT HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AT HOLDINGS LIMITED (CONTINUED)
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 an Auditor's Report 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 Group financial statements.
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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Enquiry of management and those charged with governance around actual, potential or suspected litigation, claims, non-compliance with applicable laws and regulations and fraud ;
- Review of legal and professional fees for evidence of legal work undertaken or or fines/penalties incurred ; - Performing audit work over the risk of management override of controls, including testing of 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 ; - Discussions amongst the engagement team in relation to how and where fraud might occur in the financial statements and any potential indicators of fraud ; - Enquiries with management over any potential or suspected instances of fraud ; - Performing substantive tests of detail over the completeness of income within the financial system ; - Reviewing of financial statements disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
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 Auditor's Report.
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AT HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AT HOLDINGS LIMITED (CONTINUED)
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 an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
Swansea, United Kingdom
Date:
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership registered in England and Wales (registered number OC455542).
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AT HOLDINGS LIMITED
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2025
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AT HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
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AT HOLDINGS LIMITED
REGISTERED NUMBER: 05773415
CONSOLIDATED BALANCE SHEET
AS AT 30 JUNE 2025
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AT HOLDINGS LIMITED
REGISTERED NUMBER: 05773415
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 June 2026.
The notes on pages 18 to 36 form part of these financial statements.
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AT HOLDINGS LIMITED
REGISTERED NUMBER: 05773415
COMPANY BALANCE SHEET
AS AT 30 JUNE 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 18 to 36 form part of these financial statements.
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