REGISTERED NUMBER: 00810803 (England and Wales)

ALLELYS (HOLDINGS) LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTORS:

D J Allely

R M Allely

P C Allely

REGISTERED OFFICE:

The Slough

Studley

Warwickshire

B80 7EN

REGISTERED NUMBER:

00810803 (England and Wales)

AUDITORS:

Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

The directors present their strategic report of the company and the group for the year ended 28 February 2025.

REVIEW OF BUSINESS

The results for the year,as set out on page 8, show a profit on ordinary activities of £1,252,909 (2024 £652,397). The total shareholders' funds have increased to £16,287,738 (2024 £15,110,829).

PRINCIPAL RISKS AND UNCERTAINTIES

Tough economic conditions continue, together with the cost of living crisis and the continued war in Ukraine which has resulting in volatile oil and gas prices across the globe.

FINANCIAL KEY PERFORMANCE INDICATORS

The group has established and recognised key performance indicators to measure progress in achieving its key business objectives and strategies; these are reviewed on a regular basis.

FUTURE DEVELOPMENTS

The directors pride themselves on the strong relationships that they have developed with their customers and supply chain. As a result, the directors feel that they are well placed to take advantage of the future opportunities during the coming year.

ON BEHALF OF THE BOARD:

D J Allely - Director

11 July 2025

The directors present their report with the financial statements of the company and the group for the year ended 28 February 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a holding company.

DIVIDENDS

No dividends will be distributed for the year ended 28 February 2025.

DIRECTORS

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

D J Allely

R M Allely

P C Allely

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Charles Lovell & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D J Allely - Director

11 July 2025

Opinion

We have audited the financial statements of Allelys (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28 February 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 28 February 2025 and of the group's 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 group 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 group's and 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 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 Group 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 Group 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 Group 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 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 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 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 group's and the parent 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 group or the parent 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:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud and error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the nature of the industry and the sector in which they operate. We determined that the following laws and regulations were most significant; the Companies Act 2006, the UK Corporate Governance Code and UK corporate taxation laws.

- We obtained an understanding of how the Company are complying with those legal and regulatory frameworks by making inquiries with the management of the Company and the Company's audit department.

- We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the Audit engagement team included:

- identifying and assessing the design effectiveness of controls that management has in place to

prevent and detect fraud.

- Understanding how those charged with governance considered and addressed the potential for

override of controls or other inappropriate influence over the financial reporting process.

- challenging assumptions and judgements made by management in its significant accounting

estimates.

- identifying and testing journal enteries and performing analytical procedures to identify any unusual

or unexpected relationships that may indicate risks of material misstatement due to fraud.

- assessing the extent of compliance with the relevant laws and regulations.

- We also communicated relevant identified laws and regulations and potential fraud risk to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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.

John Thomas Harris (Senior Statutory Auditor)

for and on behalf of Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

11 July 2025

TURNOVER

3

39,415,759

37,574,513

Cost of sales

29,495,522

29,790,357

GROSS PROFIT

9,920,237

7,784,156

Distribution costs

756,653

520,062

Administrative expenses

7,236,282

6,103,151

7,992,935

6,623,213

OPERATING PROFIT

5

1,927,302

1,160,943

Interest receivable and similar income

16

29

1,927,318

1,160,972

Interest payable and similar expenses

6

614,035

488,172

PROFIT BEFORE TAXATION

1,313,283

672,800

Tax on profit

7

60,374

20,403

PROFIT FOR THE FINANCIAL YEAR

1,252,909

652,397

Profit attributable to:

Owners of the parent

1,252,909

652,397

PROFIT FOR THE YEAR

1,252,909

652,397

OTHER COMPREHENSIVE INCOME

Deferred tax on fair value revaluation

(76,000

)

-

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(76,000

)

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,176,909

652,397

Total comprehensive income attributable to:

Owners of the parent

1,176,909

652,397

FIXED ASSETS

Intangible assets

9

5,376

5,376

Tangible assets

10

23,016,755

20,415,810

Investments

11

Interest in associate

100

100

Other investments

75

-

Investment property

12

1,354,000

1,050,000

24,376,306

21,471,286

CURRENT ASSETS

Stocks

13

41,281

43,912

Debtors

14

10,861,548

9,359,245

Cash at bank and in hand

822,911

467,904

11,725,740

9,871,061

CREDITORS

Amounts falling due within one year

15

12,331,602

9,417,209

NET CURRENT (LIABILITIES)/ASSETS

(605,862

)

453,852

TOTAL ASSETS LESS CURRENT LIABILITIES

23,770,444

21,925,138

CREDITORS

Amounts falling due after more than one year

16

(7,406,706

)

(6,814,309

)

PROVISIONS FOR LIABILITIES

20

(76,000

)

-

NET ASSETS

16,287,738

15,110,829

CAPITAL AND RESERVES

Called up share capital

21

162

162

Capital redemption reserve

22

6,988

6,988

Fair value reserve

22

228,000

-

Retained earnings

22

16,052,588

15,103,679

SHAREHOLDERS' FUNDS

16,287,738

15,110,829

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

D J Allely - Director

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

23,016,755

20,415,810

Investments

11

7,775

7,700

Investment property

12

1,354,000

1,050,000

24,378,530

21,473,510

CURRENT ASSETS

Debtors

14

2,420,056

2,661,212

Cash at bank

77,965

68,363

2,498,021

2,729,575

CREDITORS

Amounts falling due within one year

15

7,488,112

6,357,500

NET CURRENT LIABILITIES

(4,990,091

)

(3,627,925

)

TOTAL ASSETS LESS CURRENT LIABILITIES

19,388,439

17,845,585

CREDITORS

Amounts falling due after more than one year

16

(7,406,706

)

(6,814,309

)

PROVISIONS FOR LIABILITIES

20

(76,000

)

-

NET ASSETS

11,905,733

11,031,276

CAPITAL AND RESERVES

Called up share capital

21

162

162

Capital redemption reserve

6,988

6,988

Fair value reserve

228,000

-

Retained earnings

11,670,583

11,024,126

SHAREHOLDERS' FUNDS

11,905,733

11,031,276

Company's profit for the financial year

950,457

589,688

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

D J Allely - Director

Called up

Capital

Fair

share

Retained

redemption

value

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 March 2023

162

14,451,282

6,988

-

14,458,432

Changes in equity

Total comprehensive income

-

652,397

-

-

652,397

Balance at 29 February 2024

162

15,103,679

6,988

-

15,110,829

Changes in equity

Total comprehensive income

-

948,909

-

228,000

1,176,909

Balance at 28 February 2025

162

16,052,588

6,988

228,000

16,287,738

Called up

Capital

Fair

share

Retained

redemption

value

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 March 2023

162

10,434,438

6,988

-

10,441,588

Changes in equity

Total comprehensive income

-

589,688

-

-

589,688

Balance at 29 February 2024

162

11,024,126

6,988

-

11,031,276

Changes in equity

Total comprehensive income

-

646,457

-

228,000

874,457

Balance at 28 February 2025

162

11,670,583

6,988

228,000

11,905,733

Cash flows from operating activities

Cash generated from operations

1

3,839,664

2,533,223

Interest paid

(230,038

)

(226,697

)

Interest element of hire purchase payments paid

(383,997

)

(261,475

)

Tax paid

36,878

-

Net cash from operating activities

3,262,507

2,045,051

Cash flows from investing activities

Purchase of tangible fixed assets

(827,538

)

(1,814,506

)

Purchase of fixed asset investments

(75

)

-

Sale of tangible fixed assets

357,008

60,781

Interest received

16

29

Amounts owed to participating interest

35,725

-

Net cash from investing activities

(434,864

)

(1,753,696

)

Cash flows from financing activities

New loans in year

-

990,000

Loan repayments in year

(384,720

)

(353,940

)

Invoice discounting advanced

1,028,175

(47,160

)

Capital repayments in year

(3,133,848

)

(1,251,720

)

Amount withdrawn by directors

17,757

267,512

Net cash from financing activities

(2,472,636

)

(395,308

)

Increase/(decrease) in cash and cash equivalents

355,007

(103,953

)

Cash and cash equivalents at beginning of year

2

467,904

571,857

Cash and cash equivalents at end of year

2

822,911

467,904

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

28.2.25

29.2.24

£

£

Profit before taxation

1,313,283

672,800

Depreciation charges

2,796,926

2,594,934

Profit on disposal of fixed assets

(127,003

)

(15,564

)

Gain on revaluation of fixed assets

(304,000

)

-

Finance costs

614,035

488,172

Finance income

(16

)

(29

)

4,293,225

3,740,313

Decrease in stocks

2,631

7,141

Increase in trade and other debtors

(1,502,303

)

(3,181,428

)

Increase in trade and other creditors

1,046,111

1,967,197

Cash generated from operations

3,839,664

2,533,223

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 28 February 2025

28.2.25

1.3.24

£

£

Cash and cash equivalents

822,911

467,904

Year ended 29 February 2024

29.2.24

1.3.23

£

£

Cash and cash equivalents

467,904

571,857

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.3.24

Cash flow

At 28.2.25

£

£

£

Net cash

Cash at bank and in hand

467,904

355,007

822,911

467,904

355,007

822,911

Debt

Finance leases

(6,469,561

)

(1,666,490

)

(8,136,051

)

Debts falling due within 1 year

(1,864,559

)

(1,028,175

)

(2,892,734

)

Debts falling due after 1 year

(2,879,872

)

384,720

(2,495,152

)

(11,213,992

)

(2,309,945

)

(13,523,937

)

Total

(10,746,088

)

(1,954,938

)

(12,701,026

)