Year Ended
Registration number:
A.L. Younger Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
A.L. Younger Limited
Company Information
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Directors |
M E Teconi A R Younger |
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Company secretary |
S H Abel |
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Registered office |
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Auditors |
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A.L. Younger Limited
Strategic Report for the Year Ended 31 March 2026
The directors present their strategic report for the year ended 31 March 2026.
Principal activity
The principal activity of the company is that of wholesaling and distribution of picture frame-making materials and wholesaling of machines and accessories for use in the fine art trade industry.
Fair review of the business
During the financial year trade remained steady, although overall sales reduced slightly due to the general downturn in the UK market and tightened finances amongst our customer base. Employment costs continued to increase in the year, but most other costs have remained stable, and some savings were achieved. As a result though, net profits were lower than last year.
The company continues to support several projects in an effort to reduce its energy consumption and improve efficiencies. These include the following:
• Recycling of glass waste and packing materials
• Installation of solar panels at several of our warehouses
• Regular replacement of fleet vehicles to maximise fuel efficiency
• Installation of low energy light bulbs in all locations
• Operating biomass heaters at two branches.
The company's key financial and other performance indicators during the year were as follows:
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Financial KPIs |
Unit |
2026 |
2025 |
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Turnover |
£'000 |
9,661 |
10,142 |
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Gross profit margin |
% |
52 |
50 |
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Profit before tax |
£'000 |
426 |
620 |
Principal risks and uncertainties
The company imports goods for resale both from within the EU and outside. Most of this stock is paid for in Euros or US Dollars. The Company manages the risk of fluctuating exchange rates by entering forward exchange contracts in order to maintain a stable cost price.
Approved and authorised by the
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A.L. Younger Limited
Directors' Report for the Year Ended 31 March 2026
The directors present their report and the financial statements for the year ended 31 March 2026.
Directors of the company
The directors who held office during the year were as follows:
Director's responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report 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:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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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.
Going concern
Profits and cashflows are forecast for the next three financial years and are reviewed at regular intervals. The company meets day to day working capital requirements through its banking facilities, and the banking relationship with HSBC remains strong.
The company has adequate funds available to discharge its obligations as they fall due for a period at least 12 months from the date of approval of these financial statements. The board is confident that the company has sufficient liquidity to meet all its financial and trading requirements. Based on the above and information available to the board at the date of signing, the company continues to adopt the going concern basis in preparing these financial statements.
Important non adjusting events after the financial period
On 25 June 2026 the company repurchased 122 Ordinary B shares.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
A.L. Younger Limited
Directors' Report for the Year Ended 31 March 2026
Reappointment of auditors
The auditors PKF Francis Clark are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Approved and authorised by the
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A.L. Younger Limited
Independent Auditor's Report to the Members of A.L. Younger Limited
Opinion
We have audited the financial statements of A.L. Younger Limited (the 'company') for the year ended 31 March 2026, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, 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 2026 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 auditor 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 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 company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
A.L. Younger Limited
Independent Auditor's Report to the Members of A.L. Younger Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our 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 and the Directors' Report.
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 -1, 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 is 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.
Auditor 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 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 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:
A.L. Younger Limited
Independent Auditor's Report to the Members of A.L. Younger Limited
As part of our audit planning we obtained an understanding of the legal and regulatory framework that is applicable to A.L.Younger Limited. This was gained through appropriate audit engagement team selection (ensuring competence and capability to recognise non-compliance) and discussions with management. This covered any knowledge or evidence of actual and potential fraud, litigation and claims, which was followed up with corroborative audit review work. As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the company’s ability to continue trading and the risk of material misstatement to the accounts. Based on our understanding of the group and industry, we identified that the principal risks of non-compliance with laws and regulations relating to breaches around health and safety regulations. We considered the extent to which non-compliance with these laws and regulations may have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as The Companies Act 2006 and relevant tax legislation.
We also discussed with management to what extent the business is exposed to fraud – either inherently because of nature of operations, assets or because of weaknesses in internal controls. From these discussions we have evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements. The key incentive identified was to reduce corporation tax liabilities and we determined that the principal risks were related to the understatement of profit, either through understating revenue, overstating expenditure or management bias in accounting estimates.
Based on this understanding we designed audit procedures to identify non-compliance with relevant laws and regulations. Our procedures involved the following:
• Enquiries of management regarding their knowledge of any non-compliance with laws and regulations that could affect the financial statements. As part of these enquiries, we also discussed with management whether there have been any known instances of fraud, of which there were none.
• Review legal and professional costs to identify any possible non-compliance.
In response to the identified risk, as part of our audit work, we:
• Sampled sales from orders and where available other documentation outside the accounting system to ensure they are complete in the accounts. We have reviewed delivery documentation with customers to ensure the revenue can be recognised in the year.
• Audited the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.
• Reviewed estimates and judgements made in the accounts for any indication of bias and challenged assumptions used by management in making the estimates.
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. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate omissions, collusion, forgery, misrepresentations, or the override of internal controls. We are also less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements.
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A.L. Younger Limited
Independent Auditor's Report to the Members of A.L. Younger Limited
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
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 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.
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Towngate House
2-8 Parkstone Road
Dorset
BH15 2PW
A.L. Younger Limited
Profit and Loss Account
Year Ended 31 March 2026
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Note |
2026 |
2025 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
458,760 |
681,398 |
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Other interest receivable and similar income |
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Interest payable and similar expenses |
( |
( |
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(32,891) |
(61,244) |
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Profit before tax |
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Tax on profit |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
A.L. Younger Limited
Balance Sheet
31 March 2026
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Note |
2026 |
2025 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
|||
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Called up share capital |
8,156 |
8,385 |
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Share premium reserve |
388,623 |
388,623 |
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Capital redemption reserve |
4,544 |
4,315 |
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Revaluation reserve |
1,376,004 |
1,385,624 |
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Profit and loss account |
5,518,855 |
5,613,292 |
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Shareholders' funds |
7,296,182 |
7,400,239 |
Approved and authorised by the
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Company Registration Number: 01624083
A.L. Younger Limited
Statement of Changes in Equity
Year Ended 31 March 2026
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Share capital |
Share premium |
Capital redemption reserve |
Revaluation reserve |
Profit and loss account |
Total |
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At 1 April 2025 |
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Profit for the year |
- |
- |
- |
- |
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Dividends |
- |
- |
- |
- |
( |
( |
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Purchase of own share capital |
(229) |
- |
- |
- |
(50,000) |
(50,229) |
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Transfers |
- |
- |
- |
(9,620) |
9,620 |
- |
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Other capital redemption reserve movements |
- |
- |
229 |
- |
- |
229 |
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At 31 March 2026 |
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Share capital |
Share premium |
Capital redemption reserve |
Revaluation reserve |
Profit and loss account |
Total |
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At 1 April 2024 |
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Profit for the year |
- |
- |
- |
- |
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Dividends |
- |
- |
- |
- |
( |
( |
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Purchase of own share capital |
(229) |
- |
- |
- |
(50,000) |
(50,229) |
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Transfers |
- |
- |
- |
(9,618) |
9,618 |
- |
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Other capital redemption reserve movements |
- |
- |
229 |
- |
- |
229 |
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At 31 March 2025 |
8,385 |
388,623 |
4,315 |
1,385,624 |
5,613,292 |
7,400,239 |
A.L. Younger Limited
Statement of Cash Flows
Year Ended 31 March 2026
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Note |
2026 |
2025 |
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Cash flows from operating activities |
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Profit for the year |
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Adjustments to cash flows from non-cash items |
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Depreciation and amortisation |
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Profit on disposal of tangible assets |
( |
( |
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Finance income |
( |
( |
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Finance costs |
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Income tax expense |
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Working capital adjustments |
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(Increase)/decrease in stocks |
( |
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Increase in debtors |
( |
( |
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Decrease in creditors |
( |
( |
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Cash generated from operations |
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Income taxes paid |
( |
( |
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Net cash flow from operating activities |
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Cash flows from investing activities |
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Interest received |
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Acquisitions of tangible assets |
( |
( |
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Proceeds from sale of tangible assets |
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Net cash flows from investing activities |
( |
( |
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Cash flows from financing activities |
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Interest paid |
( |
( |
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Payments for purchase of own shares |
( |
( |
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Repayment of bank borrowing |
( |
( |
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Payments to finance lease creditors |
( |
( |
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Proceeds from new finance leases |
333,348 |
232,073 |
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Dividends paid |
( |
( |
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Net cash flows from financing activities |
( |
( |
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Net (decrease)/increase in cash and cash equivalents |
( |
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Cash and cash equivalents at 1 April |
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Cash and cash equivalents at 31 March |
(88,415) |
739,006 |
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A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
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General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Pounds Sterling, rounded to the nearest whole pound.
Going concern
The company has adequate funds available to discharge its obligations as they fall due for a period at least 12 months from the date of approval of these financial statements. The board is aware that recent trading restrictions may reoccur in the medium term, but is confident that the company has sufficient liquidity to meet all its financial and trading requirements. Based on the above and information available to the board at the date of signing, the company continues to adopt the going concern basis in preparing these financial statements.
Judgements
There are no key judgements. |
Key sources of estimation uncertainty
Goodwill: determining whether this is impaired requires an estimation of the value in use of the branches to which the goodwill has been allocated. The value in use calculation requires the Group to estimate the future cash flows expected to arise from each branch and apply a suitable discount rate to calculate the present value. Carrying values are disclosed at note 11.
Stocks: a provision must be made for slow-moving and obsolete stocks where it is likely these will be sold below cost or scrapped. This must be estimated based on condition of the stocks, likelihood of future sales and projected sales prices and volumes. Carrying values are disclosed at note 14.
A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities. This is on delivery to the customer.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Prior to the adoption of FRS 102, the revaluation model was applied to the land and buildings class of property, plant and equipment. The company has taken advantage of the transitional arrangement under FRS 102 s35.10 to measure these assets at fair value on the date of transition, and use that value as deemed cost from that date. This change in policy had no material impact on the carrying value of the assets and therefore no transitional adjustment to the carrying value has been made.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
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Asset class |
Depreciation method and rate |
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Freehold buildings |
50 years straight line basis |
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Plant and machinery |
5 to 20 years straight line basis |
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Fixtures and fittings |
4 to 20 years straight line basis |
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Motor vehicles |
3 to 4 years straight line basis |
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Office equipment |
3 years straight line basis |
Goodwill
Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
5-20 years straight line basis, based on the useful life of each asset |
Investments
Investments in subsidiaries are measured at cost less impairment.
Dividends from subsidiaries are recognised in income when receivable.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
A provision for slow moving or obsolete stock is made where considered necessary.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
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Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
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2026 |
2025 |
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Sale of goods |
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The analysis of the company's Turnover for the year by market is as follows:
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2026 |
2025 |
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UK |
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A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
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Operating profit |
Arrived at after charging/(crediting)
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2026 |
2025 |
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Depreciation expense |
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Amortisation expense |
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Foreign exchange losses |
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Profit on disposal of property, plant and equipment |
( |
( |
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
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2026 |
2025 |
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Wages and salaries |
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Social security costs |
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Pension costs, defined contribution scheme |
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The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
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2026 |
2025 |
|
|
Production |
|
|
|
Administration and support |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2026 |
2025 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
99,278 |
98,251 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2026 |
2025 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
|
Auditor's remuneration |
|
2026 |
2025 |
|
|
Audit of the financial statements |
|
|
|
Other interest receivable and similar income |
|
2026 |
2025 |
|
|
Interest income on bank deposits |
|
|
|
Other finance income |
|
|
|
|
|
|
Interest payable and similar expenses |
|
2026 |
2025 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Interest expense on other finance liabilities |
|
|
|
|
|
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2026 |
2025 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
( |
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2025 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
|
2026 |
2025 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Tax increase/(decrease) from other short-term timing differences |
|
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Total tax charge |
|
|
Deferred tax
Deferred tax assets and liabilities
|
2026 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
- |
|
|
2025 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
- |
|
|
Intangible assets |
|
Goodwill |
Total |
|
|
Cost or valuation |
||
|
At 1 April 2025 |
|
|
|
At 31 March 2026 |
|
|
|
Amortisation |
||
|
At 1 April 2025 |
|
|
|
Amortisation charge |
|
|
|
At 31 March 2026 |
|
|
|
Carrying amount |
||
|
At 31 March 2026 |
|
|
|
At 31 March 2025 |
|
|
A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
|
Tangible assets |
|
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
|
|
Cost or valuation |
|||||
|
At 1 April 2025 |
|
|
|
|
|
|
Additions |
- |
|
|
|
|
|
Disposals |
- |
- |
( |
- |
( |
|
At 31 March 2026 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 April 2025 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
( |
- |
( |
|
At 31 March 2026 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 March 2026 |
|
|
|
|
|
|
At 31 March 2025 |
|
|
|
|
|
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2026 |
2025 |
|
|
Motor vehicles |
388,876 |
247,324 |
Restriction on title and pledged as security
Fair value as deemed cost
The company has elected to treat the fair value of the freehold land and buildings at the date of transition to FRS 102 as deemed cost. The fair value was assessed based on reports from independent RICS registered valuers. These assets have a current value of £4,049,572 (2025 - £4,123,353) and a carrying value under the historical cost model of £2,673,569 (2025 - £2,737,731).
Included within the net book value of land and buildings above is £4,049,572 (2025 - £4,123,353) in respect of freehold land and buildings and £441,724 (2025 - £451,156) in respect of long leasehold land and buildings.
A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
|
Investments |
|
2026 |
2025 |
|
|
Investments in subsidiaries |
- |
- |
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2026 |
2025 |
|||
|
Subsidiary undertakings |
||||
|
|
2 Gordleton Industrial Park, Hannah Way, Sway Road, Pennington Lymington, Hampshire, SO41 8JD England and Wales |
|
|
|
|
Subsidiary undertakings |
|
Wessex Pictures Limited The principal activity of Wessex Pictures Limited is |
|
Stocks |
|
2026 |
2025 |
|
|
Other inventories |
|
|
|
Debtors |
|
2026 |
2025 |
|
|
Trade debtors |
|
|
|
Other debtors |
|
|
|
Prepayments |
|
|
|
|
|
A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
|
Creditors |
|
Note |
2026 |
2025 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Social security and other taxes |
|
|
|
|
Other creditors |
|
|
|
|
Accruals |
|
|
|
|
Corporation tax |
110,793 |
243,680 |
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Loans and borrowings |
Non-current loans and borrowings
|
2026 |
2025 |
|
|
Bank borrowings |
|
|
|
Hire purchase contracts |
|
|
|
|
|
|
Current loans and borrowings
|
2026 |
2025 |
|
|
Bank borrowings |
|
|
|
Bank overdrafts |
|
- |
|
Hire purchase contracts |
|
|
|
|
|
|
Details of borrowings
Bank borrowings are secured by four legal charges over the company's freehold properties, alongside a debenture including fixed and floating charges over the assets of the company.
Hire purchase contracts are secured on the assets to which they relate.
A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 April 2025 |
|
|
|
Increase (decrease) in existing provisions |
|
|
|
At 31 March 2026 |
|
|
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £12,427 (2025 - £11,708) were payable to the scheme at the end of the year and are included in creditors.
|
Share capital |
Allotted, called up and fully paid shares
|
2026 |
2025 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
8,034 |
|
8,034 |
|
|
|
122 |
|
351 |
|
|
|
|
|
|
Rights, preferences and restrictions
|
Ordinary A shares have the following rights, preferences and restrictions: |
|
Ordinary B shares have the following rights, preferences and restrictions: |
A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
|
Reserves |
Share premium
Contains the premium arising on issue of equity shares, net of issue expenses.
Capital redemption reserve
Represents the Company's own shares at par bought back by the Company and subsequently cancelled.
Profit and loss reserve
Represents cumulative profits or losses, net of dividends paid and other adjustments.
Revaluation reserve
Represents the cumulative effect of revaluations of freehold land and buildings, net of depreciation in excess of that on historical cost, which were carried under the revaluation model prior to the adoption of FRS 102.
|
Dividends |
Interim dividends paid
|
2026 |
2025 |
|||
|
Interim dividends |
351,889 |
402,503 |
||
|
Analysis of changes in net debt |
|
At 1 April 2025 |
Financing cash flows |
New finance leases |
At 31 March 2026 |
|
|
Cash and cash equivalents |
||||
|
Cash |
739,006 |
(729,521) |
- |
9,485 |
|
Overdrafts |
- |
(97,900) |
- |
(97,900) |
|
739,006 |
(827,421) |
- |
(88,415) |
|
|
Borrowings |
||||
|
Borrowings |
(493,850) |
255,912 |
- |
(237,938) |
|
Lease liabilities |
(146,749) |
192,284 |
(333,348) |
(287,813) |
|
(640,599) |
448,196 |
(333,348) |
(525,751) |
|
|
|
( |
( |
( |
|
|
|
||||
A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
|
Obligations under leases and hire purchase contracts |
Finance leases
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
Operating leases
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Commitments |
Other financial commitments
At the end of the period the company was contracted to future foreign currency purchases not provided in the financial statements totalling £
|
Related party transactions |
Key management compensation
|
2026 |
2025 |
|
|
Salaries and other short term employee benefits |
|
|
|
Post-employment benefits |
|
|
|
|
|
A.L. Younger Limited
Notes to the Financial Statements
Year Ended 31 March 2026
|
Transactions with directors |
|
2026 |
At 1 April 2025 |
Repayments by director |
At 31 March 2026 |
|
M E Teconi |
|||
|
Interest at ORI and repayable on demand |
|
( |
|
|
2025 |
At 1 April 2024 |
Repayments by director |
At 31 March 2025 |
|
M E Teconi |
|||
|
Interest at ORI and repayable on demand |
|
( |
|
|
Other transactions with directors |
At the balance sheet date, the amounts due to the directors was £131,554 (2025 - £174,349). All directors loans are unsecured and repayable on demand. Interest has been charged at a rate of 5.95% -7.20% on these loans.
Interim dividends were paid to the directors and their family of £351,889 (2025 - £402,503).
Summary of transactions with other related parties
|
Parent and ultimate parent undertaking |
The ultimate controlling party is
|
Non adjusting events after the financial period |
|
|