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REGISTERED NUMBER: 10515582 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 May 2023

for

JUKES GROUP LIMITED

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)






Contents of the Consolidated Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 19


JUKES GROUP LIMITED

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mrs K A Jukes
Mr S Jukes





SECRETARY: Mrs K A Jukes





REGISTERED OFFICE: 26a Tamworth Street
Lichfield
Staffordshire
WS13 6JJ





REGISTERED NUMBER: 10515582 (England and Wales)





AUDITORS: Lawton Bradford Accountants Ltd
Chartered Certified Accountants and
Statutory Auditors
7 Marconi Gate
Stafford
Staffordshire
ST18 0FZ

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Group Strategic Report
for the Year Ended 31 May 2023

The directors present their strategic report of the company and the group for the year ended 31 May 2023.

REVIEW OF BUSINESS
We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

The groups business objective is to provide coffins and caskets to the funeral industry.

The supply issues alluded to in the previous annual report have eased, however raw material prices have not returned to pre-pandemic levels, and these have had to be absorbed by price increases to our customers. As 2023 progresses we still see the pressures of inflation, along with energy costs, which have not reduced to any discernible degree. Demand for our products remains high.

PRINCIPAL RISKS AND UNCERTAINTIES
The risks faced by the group are reviewed by the board and appropriate processes are put into place to monitor and mitigate them. In common with many businesses of this size, the business environment can be challenging, the market is highly competitive and as a result there is always pressure on prices. With the continued investment in first class products, general outward looking and dynamic management the directors consider the company and its subsidiaries well placed to take advantage of the market opportunities as they arise, and hence mitigating this risk.

The directors recognise the group, as any other business, is subject to risk and uncertainties that are beyond its control.

Having emerged from the post Covid-19 era, we can report that when taken in aggregate across all sites, turnover was increased for the year with sales performance exceeding the previous year month on month for all but the month of December.

The supply issues alluded to in the previous annual report have eased, however raw material prices have not returned to pre-pandemic levels, and these have had to be absorbed by price increases to our customers.

As 2023 progresses we still see the pressures of inflation, along with energy costs, which have not reduced to any discernible degree. Demand for our products remains high.

It is the management's assessment that Brexit has still shown no discernible effect on the business.

FINANCIAL RISK MANAGEMENT
The groups operations expose it to a variety of financial risks that include the effect of credit risk and liquidity risk. The group has in place policies that seek to limit the adverse effects on the financial performance of the company by monitoring levels of liquidity and the related finance costs. The policies set by the board are implemented by the groups finance department.

CREDIT RISK
The group has implemented policies that require appropriate credit assessment on potential customers before sales are made. The amount of exposure to any individual counterparty is subject to review by the groups financial department.

LIQUIDITY RISK
The group actively maintains a mixture of cash balances and loan finance that is designed to ensure the group has sufficient available funds for operations and planned expansions. Invoice discounting is used by all trading companies as is a valuable source of cashflow. Interest rate fluctuations impact on our results however in the current and preceding year the group has benefited from a stable rate of interest borrowings.


JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Group Strategic Report
for the Year Ended 31 May 2023

FINANCIAL KEY PERFORMANCE INDICATORS
We consider our key performance indicators are those that communicate the financial performance and strength of the group as a whole and they are:-

Turnover
Gross margins
Group net assets
EBITDA

ON BEHALF OF THE BOARD:





Mr S Jukes - Director


26 October 2023

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Report of the Directors
for the Year Ended 31 May 2023

The directors present their report with the financial statements of the company and the group for the year ended 31 May 2023.

PRINCIPAL ACTIVITIES
The manufacture of wood and veneer sets, the manufacture of coffins and caskets and property rental.

DIVIDENDS
Dividends have been paid as follows:-

Share Type Date Value £

Ordinary A 31/12/2022 150,000
30/05/2023 85,000
Ordinary B 05/04/2023 200,000
30/05/2023 85,000

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2022 to the date of this report.

Mrs K A Jukes
Mr S Jukes

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 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 group's auditors are aware of that information.

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Report of the Directors
for the Year Ended 31 May 2023


AUDITORS
The auditors, Lawton Bradford Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr S Jukes - Director


26 October 2023

Report of the Independent Auditors to the Members of
Jukes Group Limited

Opinion
We have audited the financial statements of Jukes Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 May 2023 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 31 May 2023 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.

Report of the Independent Auditors to the Members of
Jukes Group Limited


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 four, 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.

Report of the Independent Auditors to the Members of
Jukes Group Limited


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:

- We obtain an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework;
- We obtain an understanding of the entity’s policies and procedures on compliance with laws and regulations, including documentation of any instances of non-compliance.
- Identify which laws and regulations are of significance in the context of the entity;
- We obtain an understanding of the entity’s risk assessment process, including the risk of fraud;
- We assess the susceptibility of the entity’s financial statements to material misstatement, including how fraud might occur;
- Identify and test unusual or unexpected journal entries;
- Use Data Analytics to review the client data for unusual trends/anomalies;
- Evaluate the assumptions and judgements used by management within significant accounting estimates and assess if these indicate evidence of management bias;
- Test significant transactions, in particular evaluate the business rationale for any which appear unusual or outside the company’s normal course of business;
- Review the financial statements and test the disclosures against supporting documentation;
- Communicate relevant matters (including those above) to all members of the audit team to ensure they understood the risks specific to the entity and the audit procedures planned to mitigate these.

In order to ascertain the above and relative to the specific risks identified, the procedures followed included:
Enquiry of management, those charged with governance and the entity’s solicitors around actual and potential litigation and claims;
Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;
Review of financial statement disclosures and test to supporting documentation to assess compliance with applicable laws and regulations.
Perform 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.
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.

Report of the Independent Auditors to the Members of
Jukes Group Limited


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.




Adele Lawton (Senior Statutory Auditor)
for and on behalf of Lawton Bradford Accountants Ltd
Chartered Certified Accountants and
Statutory Auditors
7 Marconi Gate
Stafford
Staffordshire
ST18 0FZ

26 October 2023

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Consolidated
Income Statement
for the Year Ended 31 May 2023

Year Ended Period
31.5.23 31.12.20 to 31.5.22
Notes £    £    £    £   

TURNOVER 3 16,120,288 18,148,977

Cost of sales 11,565,234 12,214,745
GROSS PROFIT 4,555,054 5,934,232

Distribution costs 445,368 519,991
Administrative expenses 2,695,231 3,190,469
3,140,599 3,710,460
1,414,455 2,223,772

Other operating income 35,820 26,292
OPERATING PROFIT 5 1,450,275 2,250,064

Interest receivable and similar income 5,982 11,226
1,456,257 2,261,290

Interest payable and similar expenses 7 135,007 124,353
PROFIT BEFORE TAXATION 1,321,250 2,136,937

Tax on profit 8 270,057 503,923
PROFIT FOR THE FINANCIAL YEAR 1,051,193 1,633,014
Profit attributable to:
Owners of the parent 1,043,794 1,619,436
Non-controlling interests 7,399 13,578
1,051,193 1,633,014

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Consolidated
Other Comprehensive Income
for the Year Ended 31 May 2023

Period
31.12.20
Year Ended to
31.5.23 31.5.22
Notes £    £   

PROFIT FOR THE YEAR 1,051,193 1,633,014


OTHER COMPREHENSIVE INCOME
Revaluation of property - 58,500
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

-

58,500
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,051,193

1,691,514

Total comprehensive income attributable to:
Owners of the parent 1,043,794 1,677,936
Non-controlling interests 7,399 13,578
1,051,193 1,691,514

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Consolidated Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 (719 ) (7,355 )
Tangible assets 12 3,137,690 3,156,386
Investments 13 - -
Investment property 14 651,104 650,000
3,788,075 3,799,031

CURRENT ASSETS
Stocks 15 1,590,955 1,741,641
Debtors 16 3,048,189 2,718,085
Cash at bank and in hand 667,949 307,777
5,307,093 4,767,503
CREDITORS
Amounts falling due within one year 17 3,368,891 3,108,117
NET CURRENT ASSETS 1,938,202 1,659,386
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,726,277

5,458,417

CREDITORS
Amounts falling due after more than one
year

18

(1,206,844

)

(1,438,761

)

PROVISIONS FOR LIABILITIES 22 (224,387 ) (233,203 )
NET ASSETS 4,295,046 3,786,453

CAPITAL AND RESERVES
Called up share capital 23 372 372
Revaluation reserve 24 58,500 58,500
Fair value reserve 24 (58,900 ) (58,900 )
Retained earnings 24 4,167,595 3,666,401
SHAREHOLDERS' FUNDS 4,167,567 3,666,373

NON-CONTROLLING INTERESTS 25 127,479 120,080
TOTAL EQUITY 4,295,046 3,786,453

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:





Mr S Jukes - Director


JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Company Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 124,461 131,617
Investments 13 2,767,278 2,767,278
Investment property 14 - -
2,891,739 2,898,895

CURRENT ASSETS
Debtors 16 609,266 574,612
Cash at bank 174,694 11,259
783,960 585,871
CREDITORS
Amounts falling due within one year 17 2,933,425 2,865,784
NET CURRENT LIABILITIES (2,149,465 ) (2,279,913 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

742,274

618,982

CREDITORS
Amounts falling due after more than one
year

18

(80,501

)

(105,562

)

PROVISIONS FOR LIABILITIES 22 (8,070 ) (6,375 )
NET ASSETS 653,703 507,045

CAPITAL AND RESERVES
Called up share capital 23 372 372
Retained earnings 24 653,331 506,673
SHAREHOLDERS' FUNDS 653,703 507,045

Company's profit for the financial year 666,658 669,879

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:





Mr S A Jukes - Director


JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Consolidated Statement of Changes in Equity
for the Year Ended 31 May 2023

Called up
share Retained Revaluation
capital earnings reserve
£    £    £   
Balance at 31 December 2020 279 2,653,704 -

Changes in equity
Issue of share capital 93 - -
Dividends - (606,739 ) -
Total comprehensive income - 1,619,436 58,500
Balance at 31 May 2022 372 3,666,401 58,500

Changes in equity
Dividends - (542,600 ) -
Total comprehensive income - 1,043,794 -
Balance at 31 May 2023 372 4,167,595 58,500
Fair
value Non-controlling Total
reserve Total interests equity
£    £    £    £   
Balance at 31 December 2020 (58,900 ) 2,595,083 106,502 2,701,585

Changes in equity
Issue of share capital - 93 - 93
Dividends - (606,739 ) - (606,739 )
Total comprehensive income - 1,677,936 13,578 1,691,514
Balance at 31 May 2022 (58,900 ) 3,666,373 120,080 3,786,453

Changes in equity
Dividends - (542,600 ) - (542,600 )
Total comprehensive income - 1,043,794 7,399 1,051,193
Balance at 31 May 2023 (58,900 ) 4,167,567 127,479 4,295,046

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Company Statement of Changes in Equity
for the Year Ended 31 May 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 31 December 2020 279 416,794 417,073

Changes in equity
Issue of share capital 93 - 93
Dividends - (580,000 ) (580,000 )
Total comprehensive income - 669,879 669,879
Balance at 31 May 2022 372 506,673 507,045

Changes in equity
Dividends - (520,000 ) (520,000 )
Total comprehensive income - 666,658 666,658
Balance at 31 May 2023 372 653,331 653,703

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Consolidated Cash Flow Statement
for the Year Ended 31 May 2023

Period
31.12.20
Year Ended to
31.5.23 31.5.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,159,410 1,866,079
Interest paid (118,269 ) (87,715 )
Interest element of hire purchase payments
paid

(16,738

)

(36,638

)
Tax paid (542,968 ) (200,028 )
Net cash from operating activities 1,481,435 1,541,698

Cash flows from investing activities
Purchase of intangible fixed assets - (5,350 )
Purchase of tangible fixed assets (422,960 ) (897,514 )
Purchase of investment property (1,104 ) -
Sale of tangible fixed assets 102,294 16,849
Purchase of subsidiary - (592,358 )
Interest received 5,982 11,226
Net cash from investing activities (315,788 ) (1,467,147 )

Cash flows from financing activities
Loan repayments in year (145,820 ) 258,561
Capital repayments in year (112,399 ) 124,923
Amount introduced by directors 472,799 645,153
Amount withdrawn by directors (477,455 ) (386,637 )
Share issue - 93
Equity dividends paid (542,600 ) (606,739 )
Net cash from financing activities (805,475 ) 35,354

Increase in cash and cash equivalents 360,172 109,905
Cash and cash equivalents at beginning of
year

2

307,777

197,872

Cash and cash equivalents at end of year 2 667,949 307,777

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 May 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
Period
31.12.20
Year Ended to
31.5.23 31.5.22
£    £   
Profit before taxation 1,321,250 2,136,937
Depreciation charges 343,225 461,881
(Profit)/loss on disposal of fixed assets (10,500 ) 85,530
Gain on revaluation of fixed assets - (49,793 )
Overdraft aquired with subsidiary - (149,370 )
Subsidiary non current assets - (35,262 )
Finance costs 135,007 124,353
Finance income (5,982 ) (11,226 )
1,783,000 2,563,050
Decrease/(increase) in stocks 150,686 (378,808 )
Increase in trade and other debtors (325,448 ) (208,046 )
Increase/(decrease) in trade and other creditors 551,172 (110,117 )
Cash generated from operations 2,159,410 1,866,079

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 31 May 2023
31.5.23 1.6.22
£    £   
Cash and cash equivalents 667,949 307,777
Period ended 31 May 2022
31.5.22 31.12.20
£    £   
Cash and cash equivalents 307,777 197,872


JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 May 2023

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.6.22 Cash flow At 31.5.23
£    £    £   
Net cash
Cash at bank and in hand 307,777 360,172 667,949
307,777 360,172 667,949
Debt
Finance leases (450,504 ) 112,399 (338,105 )
Debts falling due within 1 year (147,731 ) (645 ) (148,376 )
Debts falling due after 1 year (1,153,784 ) 146,466 (1,007,318 )
(1,752,019 ) 258,220 (1,493,799 )
Total (1,444,242 ) 618,392 (825,850 )

4. ACQUISITION OF BUSINESS

On 25 June 2021, DFS Caskets Limited was acquired by Jukes Group Limited.

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Jukes Group 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The company's year end was changed to 31 May last financial year. As a result, the comparative period, year ended 31 May 2022 covered a 17 month period and will not be entirely comparable.

Basis of consolidation
In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus cost directly attributable to the business combination. The excess of the value of the business combination acquired over the cost of the assets is recognised as negative goodwill. Investments in subsidiaries are accounted for at cost less impairment.

The financial statements consolidate the accounts of Jukes Group Limited and all of its material subsidiary undertakings ("subsidiaries").

The company is exempt from the requirement to present its own profit and loss account under the provisions of Section 408 of the Companies Act 2006.

Significant judgements and estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. Management considers that certain accounting assumptions relating to taxation and provisions are its critical accounting policies.

Turnover
Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Goodwill
Negative goodwill, resulting in the net assets acquired exceeding purchase consideration on acquisition of a subsidiary is being amortised over its useful life on ten years.
The positive goodwill on a subsidiary aquisition on 25 June 2021 is also being amortised over its useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 5% on cost and not provided
Short leasehold - Equally over the terms of the lease
Improvements to property - Equally over the terms of the lease and 5% on cost
Plant and machinery - 25% on cost, 20% on cost and 15% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost

Directors have reviewed the depreciation policy for all categories of fixed assets across the Group and decided that the above rates are a more reasonable reflection of the useful life of the assets and changed the policies accordingly.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Going concern and covid-19
Having emerged from the post Covid-19 era, we can report that when taken in aggregate across all sites and including group transactions, turnover was increased for the year with sales performance exceeding the previous year month on month for all but the month of December.

The supply issues alluded to in the previous annual report have eased, however raw material prices have not returned to pre-pandemic levels, and these have had to be absorbed by price increases to our customers.

As 2023 progresses we still see the pressures of inflation, along with energy costs, which have not reduced to any discernible degree. Demand for our products remains high.

It is the management's assessment that Brexit has still shown no discernible effect on the business.

On this basis, management continue to prepare these accounts on a going concern basis and deem this appropriate. The director does not consider that a material uncertainty about the going concern status currently exists. In making this assessment the director has considered the likely trading conditions for a period of twelve months from the date of the approval of these accounts.

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the group.

An analysis of turnover by geographical market is given below:

Period
31.12.20
Year Ended to
31.5.23 31.5.22
£    £   
United Kingdom 16,120,288 18,148,977
16,120,288 18,148,977

4. EMPLOYEES AND DIRECTORS
Period
31.12.20
Year Ended to
31.5.23 31.5.22
£    £   
Wages and salaries 4,040,511 4,749,830
Social security costs 335,180 381,437
Other pension costs 78,235 81,001
4,453,926 5,212,268

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
Period
31.12.20
Year Ended to
31.5.23 31.5.22

Directors 2 2
Factory and administration 143 136
145 138

Period
31.12.20
Year Ended to
31.5.23 31.5.22
£    £   
Directors' remuneration 171,080 187,718

5. OPERATING PROFIT

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

Period
31.12.20
Year Ended to
31.5.23 31.5.22
£    £   
Other operating leases 9,316 4,952
Depreciation - owned assets 340,128 503,731
Depreciation - assets on hire purchase contracts 9,734 19,362
(Profit)/loss on disposal of fixed assets (10,500 ) 85,530
Goodwill amortisation (6,636 ) (14,871 )
Auditors' remuneration 36,417 33,917

6. EXCEPTIONAL ITEMS
Period
31.12.20
Year Ended to
31.5.23 31.5.22
£    £   
Exceptional items - (147,789 )

During the year ended 31 May 2022, an agreement was reached to release SJP Lichfield Ltd from £147,789.21 loan and this has been written off from Other Debtors.

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

7. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
31.12.20
Year Ended to
31.5.23 31.5.22
£    £   
Factoring interest 42,180 29,437
Bank loan interest 70,365 58,278
Other loan interest 5,724 -
Hire purchase 16,738 36,638
135,007 124,353

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
31.12.20
Year Ended to
31.5.23 31.5.22
£    £   
Current tax:
UK corporation tax 278,873 450,783

Deferred tax (8,816 ) 53,140
Tax on profit 270,057 503,923

UK corporation tax has been charged at 20 % (2022 - 19 %).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
31.12.20
Year Ended to
31.5.23 31.5.22
£    £   
Profit before tax 1,321,250 2,136,937
Profit multiplied by the standard rate of corporation tax in the UK of 20 %
(2022 - 19 %)

264,250

406,018

Effects of:
Expenses not deductible for tax purposes 2,970 48,081
Income not taxable for tax purposes (2,100 ) (10,154 )
Depreciation in excess of capital allowances 17,465 12,626
Utilisation of tax losses (3,712 ) (5,788 )
Deferred tax (8,816 ) 53,140
Total tax charge 270,057 503,923

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

8. TAXATION - continued

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31 May 2023.

31.12.20 to 31.5.22
Gross Tax Net
£    £    £   
Revaluation of property 58,500 - 58,500

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
Period
31.12.20
Year Ended to
31.5.23 31.5.22
£    £   
Ordinary A shares of £1 each
Final - 8,889
Interim 257,600 458,089
Ordinary B shares of £1 each
Interim 285,000 139,761
542,600 606,739

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 (66,354 )
AMORTISATION
At 1 June 2022 (58,999 )
Amortisation for year (6,636 )
At 31 May 2023 (65,635 )
NET BOOK VALUE
At 31 May 2023 (719 )
At 31 May 2022 (7,355 )

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

12. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold Short to
property leasehold property
£    £    £   
COST OR VALUATION
At 1 June 2022 1,898,592 6,191 251,031
Additions 54,959 - 10,862
Disposals - - -
At 31 May 2023 1,953,551 6,191 261,893
DEPRECIATION
At 1 June 2022 - 989 172,474
Charge for year 23,250 516 8,967
Eliminated on disposal - - -
At 31 May 2023 23,250 1,505 181,441
NET BOOK VALUE
At 31 May 2023 1,930,301 4,686 80,452
At 31 May 2022 1,898,592 5,202 78,557

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 June 2022 2,845,275 27,793 375,190 5,404,072
Additions 270,580 53,179 33,380 422,960
Disposals (148,111 ) (6,594 ) - (154,705 )
At 31 May 2023 2,967,744 74,378 408,570 5,672,327
DEPRECIATION
At 1 June 2022 1,933,923 15,667 124,633 2,247,686
Charge for year 227,939 10,979 78,211 349,862
Eliminated on disposal (56,317 ) (6,594 ) - (62,911 )
At 31 May 2023 2,105,545 20,052 202,844 2,534,637
NET BOOK VALUE
At 31 May 2023 862,199 54,326 205,726 3,137,690
At 31 May 2022 911,352 12,126 250,557 3,156,386

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

12. TANGIBLE FIXED ASSETS - continued

Group

Cost or valuation at 31 May 2023 is represented by:

Improvements
Freehold Short to
property leasehold property
£    £    £   
Valuation in 2022 58,500 - -
Cost 1,895,051 6,191 261,893
1,953,551 6,191 261,893

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Valuation in 2022 - - - 58,500
Cost 2,967,744 74,378 408,570 5,613,827
2,967,744 74,378 408,570 5,672,327

If freehold property had not been revalued it would have been included at the following historical cost:

31.5.23 31.5.22
£    £   
Cost 406,500 406,500
Aggregate depreciation 84,943 49,794

Value of land in freehold land and buildings 465,000 465,000

Freehold land was valued on an open market basis on 6 May 2022 by Walton Goodland, Chartered Surveyors .

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

12. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 June 2022
and 31 May 2023 359,741 22,650 382,391
DEPRECIATION
At 1 June 2022 116,433 4,153 120,586
Charge for year 9,734 - 9,734
At 31 May 2023 126,167 4,153 130,320
NET BOOK VALUE
At 31 May 2023 233,574 18,497 252,071
At 31 May 2022 243,308 18,497 261,805

Company
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2022 - 151,950 151,950
Additions 26,311 - 26,311
At 31 May 2023 26,311 151,950 178,261
DEPRECIATION
At 1 June 2022 - 20,333 20,333
Charge for year 3,077 30,390 33,467
At 31 May 2023 3,077 50,723 53,800
NET BOOK VALUE
At 31 May 2023 23,234 101,227 124,461
At 31 May 2022 - 131,617 131,617

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 June 2022
and 31 May 2023 2,767,278
NET BOOK VALUE
At 31 May 2023 2,767,278
At 31 May 2022 2,767,278

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Jukes Properties Limited
Registered office: 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ
Nature of business: Property rental
%
Class of shares: holding
Ordinary 100.00
31.5.23 31.5.22
£    £   
Aggregate capital and reserves 628,715 524,019
Profit for the year/period 104,696 58,541

Midland Funeral Supplies Limited
Registered office: 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ
Nature of business: Coffin manufacture
%
Class of shares: holding
Ordinary 100.00
31.5.23 31.5.22
£    £   
Aggregate capital and reserves 399,558 427,951
Profit for the year/period 41,607 228,892

F E Harris Limited
Registered office: 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ
Nature of business: Coffin manufacture
%
Class of shares: holding
Ordinary 100.00
31.5.23 31.5.22
£    £   
Aggregate capital and reserves 774,640 662,753
Profit for the year/period 309,887 347,848

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

13. FIXED ASSET INVESTMENTS - continued

Brian Reid and Son Limited
Registered office: 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ
Nature of business: Coffin manufacture
%
Class of shares: holding
Ordinary 90.00
31.5.23 31.5.22
£    £   
Aggregate capital and reserves 1,131,201 1,205,285
Profit for the year/period 152,006 403,165

LT & R Vowles Limited
Registered office: 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ
Nature of business: Coffin manufacture
%
Class of shares: holding
Ordinary 100.00
31.5.23 31.5.22
£    £   
Aggregate capital and reserves 948,776 1,000,268
Profit for the year/period 146,508 383,708

Beverley Veneers Limited
Registered office: 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ
Nature of business: Manufacture of wood and veneers products
%
Class of shares: holding
Ordinary 100.00
31.5.23 31.5.22
£    £   
Aggregate capital and reserves 2,034,896 1,741,219
Profit for the year/period 641,677 791,572

DFS Caskets Limited
Registered office: New Dyke Industrial Development, Stapleton Road, Annan, Dumfriesshire, Scotland, DG12 6JP
Nature of business: Coffin manufacture
%
Class of shares: holding
Ordinary 100.00
31.5.23 31.5.22
£    £   
Aggregate capital and reserves 491,465 492,547
Loss for the year/period (1,082 ) (54,458 )

On 25 June 2021, Jukes Group Limited acquired 100% of DFS Caskets Limited.







JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

13. FIXED ASSET INVESTMENTS - continued


14. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 June 2022 650,000
Additions 1,104
At 31 May 2023 651,104
NET BOOK VALUE
At 31 May 2023 651,104
At 31 May 2022 650,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2020 (58,900 )
Cost 710,004
651,104

Jukes Properties Limited
The investment property was valued at open market value by KWB Property Management Ltd, Chartered Valuation Surveyors, on 24 September 2021 and S Jukes, the director, considers this value plus additional costs incurred this financial year to be the appropriate value at 31 May 2023.
If the investment property had not been revalued, it would have been included at £710,004 cost.

15. STOCKS

Group
31.5.23 31.5.22
£    £   
Stocks 1,590,955 1,741,641

16. DEBTORS

Group Company
31.5.23 31.5.22 31.5.23 31.5.22
£    £    £    £   
Amounts falling due within one year:
Trade debtors 2,622,604 2,344,250 - -
Amounts owed by group undertakings - - 456,679 440,273
Other debtors 82,192 50,599 17,736 1,836
Directors' current accounts 203,139 198,483 97,527 92,871
Tax 58,903 58,903 32,500 32,500
VAT - - - 4,700
Prepayments 81,351 61,510 4,824 2,432
3,048,189 2,713,745 609,266 574,612

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

16. DEBTORS - continued

Group Company
31.5.23 31.5.22 31.5.23 31.5.22
£    £    £    £   
Amounts falling due after more than one year:
Other debtors - 4,340 - -

Aggregate amounts 3,048,189 2,718,085 609,266 574,612

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.5.23 31.5.22 31.5.23 31.5.22
£    £    £    £   
Bank loans and overdrafts (see note 19) 148,376 147,731 - -
Hire purchase contracts (see note 20) 138,579 165,527 23,320 23,697
Invoice finance 656,655 499,684 - -
Trade creditors 1,138,810 1,249,745 599 7,734
Amounts owed to group undertakings - - 2,846,541 2,731,286
Tax 192,333 456,428 - -
Social security and other taxes 105,132 87,981 21,737 4,178
Net wages 4,817 4,377 - -
Pension control 248 540 - -
VAT 351,766 200,362 4,913 -
Other creditors 416,395 170,576 1,911 77,639
Accruals and deferred income 20,610 15,122 - -
Accrued expenses 195,170 110,044 34,404 21,250
3,368,891 3,108,117 2,933,425 2,865,784

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
31.5.23 31.5.22 31.5.23 31.5.22
£    £    £    £   
Bank loans (see note 19) 1,007,318 1,153,784 - -
Hire purchase contracts (see note 20) 199,526 284,977 80,501 105,562
1,206,844 1,438,761 80,501 105,562

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

19. LOANS

An analysis of the maturity of loans is given below:

Group
31.5.23 31.5.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 148,376 147,731
Amounts falling due between one and two years:
Bank loans - 1-2 years 630,225 -
Amounts falling due between two and five years:
Bank loans - 2-5 years 124,593 884,548
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 252,500 269,236

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31.5.23 31.5.22
£    £   
Gross obligations repayable:
Within one year 138,579 166,251
Between one and five years 199,526 284,984
338,105 451,235

Finance charges repayable:
Within one year - 724
Between one and five years - 7
- 731

Net obligations repayable:
Within one year 138,579 165,527
Between one and five years 199,526 284,977
338,105 450,504

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

20. LEASING AGREEMENTS - continued

Company
Hire purchase contracts
31.5.23 31.5.22
£    £   
Net obligations repayable:
Within one year 23,320 23,697
Between one and five years 80,501 105,562
103,821 129,259

Group
Non-cancellable operating leases
31.5.23 31.5.22
£    £   
Within one year 23,320 113,358
Between one and five years 80,501 111,352
103,821 224,710

21. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
31.5.23 31.5.22 31.5.23 31.5.22
£    £    £    £   
Bank loans 1,155,694 1,301,515 - -
Hire purchase contracts 338,105 450,504 103,821 129,259
Invoice financing 648,867 499,684 - -
2,142,666 2,251,703 103,821 129,259

The hire purchase liabilities are secured over the assets to which they relate.

The invoice discounting loans are secured by way of a charge over the related trade debtors.

The bank loan is secured by way of charges over land lying to the North of Elwell Street, West Bromwich: 26 Tamworth Street, Lichfield; Land on the North side of Grovehill Road, Beverley; land on the South East side of Stapleton Road, Annan and an unlimited debenture dated 5 December 2014.

22. PROVISIONS FOR LIABILITIES

Group Company
31.5.23 31.5.22 31.5.23 31.5.22
£    £    £    £   
Deferred tax 224,387 233,203 8,070 6,375

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

22. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 June 2022 233,203
Credit to Income Statement during year (8,816 )
Balance at 31 May 2023 224,387

Company
Deferred
tax
£   
Balance at 1 June 2022 6,375
Provided during year 1,695
Balance at 31 May 2023 8,070

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
223 Ordinary A £1 223 223
56 Ordinary B £1 149 149
372 372

24. RESERVES

Group
Fair
Retained Revaluation value
earnings reserve reserve Totals
£    £    £    £   

At 1 June 2022 3,666,401 58,500 (58,900 ) 3,666,001
Profit for the year 1,043,794 1,043,794
Dividends (542,600 ) (542,600 )
At 31 May 2023 4,167,595 58,500 (58,900 ) 4,167,195

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2023

24. RESERVES - continued

Company
Retained
earnings
£   

At 1 June 2022 506,673
Profit for the year 666,658
Dividends (520,000 )
At 31 May 2023 653,331


25. NON-CONTROLLING INTERESTS

Minority interests are the 10% shareholding in Brian Reid & Son Limited.

26. CAPITAL COMMITMENTS
31.5.23 31.5.22
£    £   
Contracted but not provided for in the
financial statements 144,614 -

27. OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £157,276 (2022 - £240,630)

28. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the end of the period the directors owed the group £203,140 (2022 - £198,483). The loan was repayable on demand and at a standard rate of interest.

29. RELATED PARTY DISCLOSURES

Jukes Properties Limited
The investment property is rented to a company owned and controlled by an individual connected with the directors, at below market value. Market value is estimated to be in the region of £32,000 per annum and the company has agreed a rental of £15,000.

30. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S Jukes.