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REGISTERED NUMBER: 08305824 (England and Wales)















GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

JCW GROUP HOLDINGS LIMITED

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 6

Consolidated Statement of Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 18


JCW GROUP HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTOR: J C Wilkins



REGISTERED OFFICE: Unit 32-34 Britannia Way
Bolton
BL2 2HH



REGISTERED NUMBER: 08305824 (England and Wales)



AUDITORS: Barlow Andrews LLP, Statutory Auditor
Chartered Accountants
Carlyle House
Bolton



BANKERS: Lloyds Bank plc
Hotel Street
PO Box 1000
Bolton
BX1 1LT

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2023

The director presents his strategic report of the company and the group for the year ended 31st December 2023.

REVIEW OF BUSINESS
The Group strives to maintain its position as a leader in the field of 'Specialist Construction Services', whilst acting in a responsible and ethical manner in its dealings with clients, members of the supply chain, the general public and , not least, it's employees.

It positively seeks to ensure that suitable funds continue to be retained within the Group in order to finance its future successful development and growth within the sector.

The respective Companies comprising the Group specialise primarily in the provision of floor screeding services and the supply and installation of acoustic building products for construction projects of vary in size in both public and private sectors. As such, the group's principal activities are organised into the following divisions:

1. Floor screeding
2. Acoustic building products

With our clients' projects becoming increasingly complex and demanding, we believe our staff's technical expertise, combined with continuing good customer service and relations, will be important factors in ensuring the future prosperity of the business.

PRINCIPAL RISKS AND UNCERTAINTIES
As with all businesses, there are always potential risks and uncertainties which, if realised, could have a material impact on the Group's trading performance and result in unexpected fluctuations in both anticipated and historical results.

The principal risks inherent in the business model are deemed to include:

CYBERSECURITY
The Group is aware of the ever-evolving threat to all businesses of the holding of electronic data and the possibility of cyber attacks and commercial data breaches. As a result, the Group regularly reviews it's own operating procedures and systems in order to ensure that data breaches and threats thereto are kept to a minimum.

FOREIGN EXCHANGE RISK
The Group continues to closely monitor the impact of 'Brexit' and the various ongoing negotiations. Trading with the EU and other overseas territories represents only a small proportion of the Group's turnover and is not presently expected to be significantly or detrimentally impacted by the said ongoing negotiations, nor is it expected to hinder the Group's future such trade.

LIQUIDITY RISK
As intimated above, the Group continues to carefully manage and control it's cash and borrowing requirements in order to ensure that it always maintains adequate and readily available funds to meet the day to day operating requirements of the business.

CREDIT RISK
The Group endeavours to mitigate any potential financial losses by ensuring that all potential customers are subject to proven, rigorous assessment procedures before credit facilities are granted.


JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2023

KEY PERFORMANCE INDICATORS
Included in the long-established monthly financial review and reporting regime operating throughout the Group, reference is made as necessary to certain relevant performance indicators which are duly recognised and adopted within the Construction Services sector. The key performance indicators are considered to be Turnover, Gross Profit and Net Profit Before Tax.

The said financial reporting regime is both rigorous and exhaustive, thereby ensuring constant close monitoring of the Group's ongoing activities.

Turnover: £11,429,572 (2022: £12,381,939)
Gross Profit: £4,317,635 (2022: £4,314,664)
Net Profit Before Tax: £759,238 (2022: £856,828)

INFLATIONARY PRESSURES
The current inflation within the economy is being dealt with within the companies by not engaging in long term contracts. They are tied into prices for no more than 2 months, thus resulting in them being able to withstand the unforeseen effects of inflation.

ON BEHALF OF THE BOARD:





J C Wilkins - Director


14th August 2024

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31ST DECEMBER 2023

The director presents his report with the financial statements of the company and the group for the year ended 31st December 2023.

PRINCIPAL ACTIVITIES
The principal activity of the company is that of a holding company. The principal activity of the group continued to be that of specialised flooring contractors providing the supply and installation of acoustic flooring and specialist floor screeding services.

The principal activity of the subsidiary undertakings of the group are:
JCW Floor Screeding Limited - specialist floor screeding contractors;
JCW Specialist Supplies Limited - a non-trading company throughout the year;
JCW Acoustic Flooring Limited - the supply and installation of acoustic flooring;
JCW Acoustic Supplies Limited - the supply of flooring components.

DIVIDENDS
The total distribution of dividends for the year ended 31st December 2023 will be £ 950,500 .

DIRECTOR
J C Wilkins held office during the whole of the period from 1st January 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is 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 he 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.

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31ST DECEMBER 2023


AUDITORS
Barlow Andrews LLP were appointed as auditors and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they will be re-appointed will be put at a General Meeting.

ON BEHALF OF THE BOARD:





J C Wilkins - Director


14th August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JCW GROUP HOLDINGS LIMITED

Opinion
We have audited the financial statements of JCW Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st December 2023 which comprise the Consolidated Statement of 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 31st December 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 director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JCW GROUP HOLDINGS 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 Director.

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JCW GROUP HOLDINGS 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:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and from our commercial knowledge and experience;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and employment;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.


We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considered the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries ti identify any unusual transactions; and
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying documentation, and
- enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulator and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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
JCW GROUP HOLDINGS 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.




A Woodward (Senior Statutory Auditor)
for and on behalf of Barlow Andrews LLP, Statutory Auditor
Chartered Accountants
Carlyle House
Bolton

14th August 2024

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

CONSOLIDATED
STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   

TURNOVER 3 11,429,572 12,381,939

Cost of sales 7,111,937 8,067,275
GROSS PROFIT 4,317,635 4,314,664

Distribution costs 435,305 568,486
Administrative expenses 3,063,124 2,823,705
3,498,429 3,392,191
OPERATING PROFIT 5 819,206 922,473

Interest receivable and similar income 7,649 22,358
826,855 944,831

Interest payable and similar expenses 6 67,617 88,003
PROFIT BEFORE TAXATION 759,238 856,828

Tax on profit 7 193,497 168,564
PROFIT FOR THE FINANCIAL YEAR 565,741 688,264

OTHER COMPREHENSIVE INCOME
Tax regarding other operating income 14,000 14,000
Income tax relating to other comprehensive
income

-

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

14,000

14,000
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

579,741

702,264

Profit attributable to:
Owners of the parent 438,409 558,414
Non-controlling interests 127,332 129,850
565,741 688,264

Total comprehensive income attributable to:
Owners of the parent 452,409 572,414
Non-controlling interests 127,332 129,850
579,741 702,264

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

CONSOLIDATED BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - (4,547 )
Tangible assets 11 2,986,945 3,100,390
Investments 12 - -
2,986,945 3,095,843

CURRENT ASSETS
Stocks 13 264,346 408,418
Debtors 14 2,486,774 3,241,722
Cash at bank and in hand 2,682,156 1,895,962
5,433,276 5,546,102
CREDITORS
Amounts falling due within one year 15 2,021,334 1,604,052
NET CURRENT ASSETS 3,411,942 3,942,050
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,398,887

7,037,893

CREDITORS
Amounts falling due after more than one
year

16

(1,264,096

)

(1,506,799

)

PROVISIONS FOR LIABILITIES 20 (45,022 ) (70,566 )
NET ASSETS 5,089,769 5,460,528

CAPITAL AND RESERVES
Called up share capital 21 1,321 1,321
Share premium 22 399,200 399,200
Revaluation reserve 22 161,820 147,820
Retained earnings 22 3,567,957 4,080,048
SHAREHOLDERS' FUNDS 4,130,298 4,628,389

NON-CONTROLLING INTERESTS 959,471 832,139
TOTAL EQUITY 5,089,769 5,460,528

The financial statements were approved by the director and authorised for issue on 14th August 2024 and were signed by:





J C Wilkins - Director


JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

COMPANY BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 2,688,000 2,744,000
Investments 12 805,752 805,752
3,493,752 3,549,752

CURRENT ASSETS
Debtors 14 367,665 1,145,032
Cash at bank 6,678 471
374,343 1,145,503
CREDITORS
Amounts falling due within one year 15 1,326,899 1,209,820
NET CURRENT LIABILITIES (952,556 ) (64,317 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,541,196

3,485,435

CREDITORS
Amounts falling due after more than one
year

16

(1,174,734

)

(1,329,018

)

PROVISIONS FOR LIABILITIES 20 (16,607 ) (30,607 )
NET ASSETS 1,349,855 2,125,810

CAPITAL AND RESERVES
Called up share capital 21 1,321 1,321
Share premium 22 399,200 399,200
Revaluation reserve 22 161,820 147,820
Retained earnings 22 787,514 1,577,469
SHAREHOLDERS' FUNDS 1,349,855 2,125,810

Company's profit for the financial year 174,545 156,251

The financial statements were approved by the director and authorised for issue on 14th August 2024 and were signed by:





J C Wilkins - Director


JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST DECEMBER 2023

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1st January 2022 1,321 3,521,634 399,200

Changes in equity
Total comprehensive income - 558,414 -
Balance at 31st December 2022 1,321 4,080,048 399,200

Changes in equity
Dividends - (950,500 ) -
Total comprehensive income - 438,409 -
Balance at 31st December 2023 1,321 3,567,957 399,200
Revaluation Non-controlling Total
reserve Total interests equity
£    £    £    £   
Balance at 1st January 2022 133,820 4,055,975 727,289 4,783,264

Changes in equity
Dividends - - (25,000 ) (25,000 )
Total comprehensive income 14,000 572,414 129,850 702,264
Balance at 31st December 2022 147,820 4,628,389 832,139 5,460,528

Changes in equity
Dividends - (950,500 ) - (950,500 )
Total comprehensive income 14,000 452,409 127,332 579,741
Balance at 31st December 2023 161,820 4,130,298 959,471 5,089,769

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST DECEMBER 2023

Called up
share Retained Share Revaluation Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1st January 2022 1,321 1,421,218 399,200 133,820 1,955,559

Changes in equity
Total comprehensive income - 156,251 - 14,000 170,251
Balance at 31st December 2022 1,321 1,577,469 399,200 147,820 2,125,810

Changes in equity
Dividends - (950,500 ) - - (950,500 )
Total comprehensive income - 160,545 - 14,000 174,545
Balance at 31st December 2023 1,321 787,514 399,200 161,820 1,349,855

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,692,306 1,167,258
Interest paid (59,604 ) (79,317 )
Interest element of hire purchase payments
paid

(8,013

)

(8,686

)
Tax paid (159,699 ) (552,555 )
Net cash from operating activities 1,464,990 526,700

Cash flows from investing activities
Purchase of tangible fixed assets (133,127 ) (101,846 )
Sale of tangible fixed assets 58,631 63,681
Interest received 7,649 -
Net cash from investing activities (66,847 ) (38,165 )

Cash flows from financing activities
Loan repayments in year (387,619 ) (1,141,087 )
Capital repayments in year (133,929 ) (145,751 )
Net receipts / (advances) to director 860,099 250,000
Equity dividends paid (950,500 ) -
Dividends paid to minority interests - (25,000 )
Net cash from financing activities (611,949 ) (1,061,838 )

Increase/(decrease) in cash and cash equivalents 786,194 (573,303 )
Cash and cash equivalents at beginning of
year

2

1,895,962

2,469,265

Cash and cash equivalents at end of year 2 2,682,156 1,895,962

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 759,238 856,828
Depreciation charges 253,701 229,208
Profit on disposal of fixed assets (37,467 ) (40,499 )
Finance costs 67,617 88,003
Finance income (7,649 ) (22,358 )
1,035,440 1,111,182
Decrease in stocks 144,072 24,768
(Increase)/decrease in trade and other debtors (101,724 ) 323,553
Increase/(decrease) in trade and other creditors 614,518 (292,245 )
Cash generated from operations 1,692,306 1,167,258

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 31st December 2023
31/12/23 1/1/23
£    £   
Cash and cash equivalents 2,682,156 1,895,962
Year ended 31st December 2022
31/12/22 1/1/22
£    £   
Cash and cash equivalents 1,895,962 2,469,265


JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2023

3. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

Other
non-cash
At 1/1/23 Cash flow changes At 31/12/23
£    £    £    £   
Net cash
Cash at bank
and in hand 1,895,962 786,194 2,682,156
1,895,962 786,194 2,682,156
Debt
Finance leases (179,332 ) 133,929 (32,839 ) (78,242 )
Debts falling due
within 1 year (387,617 ) 183,333 - (204,284 )
Debts falling due
after 1 year (1,454,018 ) 204,285 - (1,249,733 )
(2,020,967 ) 521,547 (32,839 ) (1,532,259 )
Total (125,005 ) 1,307,741 (32,839 ) 1,149,897

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

JCW Group Holdings 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 (£).


The group consists of JCW Group Holdings Limited and all of its subsidiaries.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 4 ‘Statement of Financial Position’ - Reconciliation of the opening and closing number of shares;
- Section 7 ‘Statement of Cash Flows’ - Presentation of a statement of cash flow and related notes and disclosures; and
- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 December 2023.

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group's equity therein. Non-controlling interests consist of the amount of those interests a the date of the original business combination and the non-controlling shareholder's share of changes in equity since the date of the combination.

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion and costs incurred can be estimated reliably. The stage of completion is calculated by matching costs incurred, mainly in relation to contractual hourly staff rates and materials. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses that are recoverable.

Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand.

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 - 2% on cost
Improvements to property - 10% on cost and over the lease period
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 33% on cost, 25% on reducing balance and 20% on cost
Motor vehicles - 50% on cost, 33% on cost, 25% on reducing balance and at varying rates on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial instruments
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Classification of financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial instruments
Basic financial liabilities, including creditors and loans from connected entities, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.


JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Construction contracts
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

3. TURNOVER

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

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

2023 2022
£    £   
Sale of goods 3,754,320 4,401,577
Rendering of services 7,675,252 7,980,362
11,429,572 12,381,939

An analysis of turnover by geographical market is given below:

2023 2022
£    £   
United Kingdom 11,221,979 12,164,450
Overseas 207,593 217,489
11,429,572 12,381,939

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 1,946,799 1,741,319
Social security costs 229,923 239,975
Other pension costs 35,717 37,207
2,212,439 2,018,501

The average number of employees during the year was as follows:
2023 2022

Management 7 7
Administration 32 31
39 38

The average number of employees by undertakings that were proportionately consolidated during the year was 39 (2022 - 38 ) .

2023 2022
£    £   
Director's remuneration 230,000 235,959
Director's pension contributions to money purchase schemes 8,521 1,321

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 230,000 235,959
Pension contributions to money purchase schemes 8,521 1,321

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

5. OPERATING PROFIT

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

2023 2022
£    £   
Hire of plant and machinery 142,173 140,046
Depreciation - owned assets 142,465 87,305
Depreciation - assets on hire purchase contracts 115,782 155,539
Profit on disposal of fixed assets (37,467 ) (40,499 )
Negative goodwill amortisation (4,547 ) (13,636 )
Auditors' remuneration 22,597 34,980

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 3 3,740
Bank loan interest 59,601 75,577
Hire purchase 8,013 8,686
67,617 88,003

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 204,639 172,413
Prior year corporation tax adjustment 402 (202 )
Total current tax 205,041 172,211

Deferred tax (11,544 ) (3,647 )
Tax on profit 193,497 168,564

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

7. TAXATION - continued

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:

2023 2022
£    £   
Profit before tax 759,238 856,828
Profit multiplied by the standard rate of corporation tax in the UK of
23.520 % (2022 - 19 %)

178,573

162,797

Effects of:
Expenses not deductible for tax purposes 3,574 10,609
Income not taxable for tax purposes - (7,695 )
Depreciation in excess of capital allowances 12,804 6,522
Adjustments to tax charge in respect of previous periods 402 (202 )
Amortisation on assets not qualifying for tax allowances (1,069 ) (2,591 )
Enhanced capital allowances (787 ) (876 )
Total tax charge 193,497 168,564

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£    £    £   
Tax regarding other operating income 14,000 - 14,000

2022
Gross Tax Net
£    £    £   
Tax regarding other operating income 14,000 - 14,000

8. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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.


9. DIVIDENDS
2023 2022
£    £   
Interim 950,500 -

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

10. INTANGIBLE FIXED ASSETS

Group
Negative
Goodwill goodwill Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 151,660 (163,520 ) (11,860 )
AMORTISATION
At 1st January 2023 151,660 (158,973 ) (7,313 )
Amortisation for year - (4,547 ) (4,547 )
At 31st December 2023 151,660 (163,520 ) (11,860 )
NET BOOK VALUE
At 31st December 2023 - - -
At 31st December 2022 - (4,547 ) (4,547 )

11. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1st January 2023 2,800,000 45,610 475,947
Additions - - -
Disposals - - -
At 31st December 2023 2,800,000 45,610 475,947
DEPRECIATION
At 1st January 2023 56,000 45,610 435,955
Charge for year 56,000 - 10,218
Eliminated on disposal - - -
At 31st December 2023 112,000 45,610 446,173
NET BOOK VALUE
At 31st December 2023 2,688,000 - 29,774
At 31st December 2022 2,744,000 - 39,992

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

11. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st January 2023 719,413 680,278 4,721,248
Additions 15,404 150,562 165,966
Disposals - (111,303 ) (111,303 )
At 31st December 2023 734,817 719,537 4,775,911
DEPRECIATION
At 1st January 2023 675,177 408,116 1,620,858
Charge for year 18,256 173,773 258,247
Eliminated on disposal - (90,139 ) (90,139 )
At 31st December 2023 693,433 491,750 1,788,966
NET BOOK VALUE
At 31st December 2023 41,384 227,787 2,986,945
At 31st December 2022 44,236 272,162 3,100,390

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st January 2023 608,937
Additions 32,839
Disposals (78,658 )
Transfer to ownership (268,082 )
At 31st December 2023 295,036
DEPRECIATION
At 1st January 2023 406,616
Charge for year 115,782
Eliminated on disposal (57,496 )
Transfer to ownership (248,819 )
At 31st December 2023 216,083
NET BOOK VALUE
At 31st December 2023 78,953
At 31st December 2022 202,321

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

11. TANGIBLE FIXED ASSETS - continued

Company
Freehold
property
£   
COST OR VALUATION
At 1st January 2023
and 31st December 2023 2,800,000
DEPRECIATION
At 1st January 2023 56,000
Charge for year 56,000
At 31st December 2023 112,000
NET BOOK VALUE
At 31st December 2023 2,688,000
At 31st December 2022 2,744,000

Cost or valuation at 31st December 2023 is represented by:

Freehold
property
£   
Valuation in 2021 178,427
Cost 2,621,573
2,800,000

If Freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,621,573 2,621,573
Aggregate depreciation 131,078 78,647

Freehold land and buildings were valued on a market value basis on 24th November 2021 by Lamb & Swift Commercial .

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st January 2023
and 31st December 2023 805,752
NET BOOK VALUE
At 31st December 2023 805,752
At 31st December 2022 805,752

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

Subsidiaries

JCW Floor Screeding Limited
Registered office: United Kingdom
Nature of business: Specialist floor screeding contractors
%
Class of shares: holding
Ordinary 75.00

JCW Specialist Supplies Limited
Registered office: United Kingdom
Nature of business: A non-trading company throughout the year
%
Class of shares: holding
Ordinary 100.00

JCW Acoustic Supplies Limited
Registered office: United Kingdom
Nature of business: Supply of flooring components
%
Class of shares: holding
Ordinary 100.00

JCW Acoustic Flooring Limited
Registered office: United Kingdom
Nature of business: Supply and installation of acoustic flooring
%
Class of shares: holding
Ordinary 75.00


13. STOCKS

Group
2023 2022
£    £   
Stocks 264,346 408,418

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

14. DEBTORS

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year:
Trade debtors 1,123,087 1,048,986 74,403 1,111
Amounts recoverable on contract 622,968 601,140 - -
Other debtors 16,083 7,949 - -
Directors' current accounts - 856,672 67 856,672
Tax 281,839 281,839 281,839 281,839
VAT 105,452 200,209 - -
Prepayments and accrued income 185,243 99,413 11,356 5,410
2,334,672 3,096,208 367,665 1,145,032

Amounts falling due after more than one year:
Trade debtors 152,102 145,514 - -

Aggregate amounts 2,486,774 3,241,722 367,665 1,145,032

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 17) 204,284 387,617 154,284 154,284
Hire purchase contracts (see note 18) 63,879 126,551 - -
Trade creditors 1,063,681 416,727 14,601 96
Amounts owed to group undertakings - - 1,047,109 1,003,694
Tax 144,977 99,635 39,014 39,340
Social security and other taxes 379,445 306,019 - -
VAT 10,083 107,699 10,083 9,565
Other creditors 21,183 50,953 341 341
Directors' current accounts 3,448 21 - -
Accruals and deferred income 130,354 108,830 61,467 2,500
2,021,334 1,604,052 1,326,899 1,209,820

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

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans (see note 17) 1,249,733 1,454,018 1,174,734 1,329,018
Hire purchase contracts (see note 18) 14,363 52,781 - -
1,264,096 1,506,799 1,174,734 1,329,018

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

17. LOANS

The loans are secured against the net assets of group undertakings; JCW Floor Screeding Limited, JCW Acoustic Supplies Limited and JCW Acoustic Flooring Limited.

Included within bank loans is £1,329,018 (2022: £1,483,302) which is repayable on a monthly basis over a period of 60 months, maturing in June 2026. The loan is secured against the property of the group, with an unlimited debenture incorporating a fixed and floating charge, and has an unlimited cross guarantee with the trading subsidiaries of the group.

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 63,879 126,551
Between one and five years 14,363 52,781
78,242 179,332

19. SECURED DEBTS

The following secured debts are included within creditors:

Group
2023 2022
£    £   
Hire purchase contracts 78,242 -

The hire purchase contracts are secured against the assets purchased under the hire purchase contracts themselves.

20. PROVISIONS FOR LIABILITIES

Group Company
2023 2022 2023 2022
£    £    £    £   
Deferred tax 45,022 70,566 16,607 30,607

Group
Deferred
tax
£   
Balance at 1st January 2023 70,566
Credit to Statement of Comprehensive Income during year (25,544 )
Balance at 31st December 2023 45,022

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

20. PROVISIONS FOR LIABILITIES - continued

Company
Deferred
tax
£   
Balance at 1st January 2023 30,607
Credit to Income Statement during year (14,000 )
Balance at 31st December 2023 16,607

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,321 Ordinary £1 1,321 1,321

22. RESERVES

Group
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1st January 2023 4,080,048 399,200 147,820 4,627,068
Profit for the year 438,409 438,409
Dividends (950,500 ) (950,500 )
Deferred tax adjustment - - 14,000 14,000
At 31st December 2023 3,567,957 399,200 161,820 4,128,977

Company
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1st January 2023 1,577,469 399,200 147,820 2,124,489
Profit for the year 174,545 174,545
Dividends (950,500 ) (950,500 )
Deferred tax adjustment (14,000 ) - 14,000 -
At 31st December 2023 787,514 399,200 161,820 1,348,534


23. RELATED PARTY DISCLOSURES

As at 31 December 2023, included within trade creditors, the company owed £864 (2022: £999,444) to JCW
Floor Screeding Ltd

As at 31 December 2023, included within trade debtors, the company was owed £1,182 (2022: nil) from JCW Floor Screeding Ltd and £73,221 (2022: nil) from JCW Acoustic Supplies Ltd.

Both companies are fellow subsidiaries of JCW Group Holdings Ltd. The balances are interest free and payable on demand.

JCW GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08305824)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

24. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J C Wilkins who is a director and 100% shareholder in the parent company.