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REGISTERED NUMBER: 00953466 (England and Wales)















JOST (GREAT BRITAIN) LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

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










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


JOST (GREAT BRITAIN) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D Broomfield
F Uhlmann



SECRETARY: H M Bystrom



REGISTERED OFFICE: Unit C
Birch Business Park
Whittle Lane
Heywood
Lancashire
OL10 2SX



REGISTERED NUMBER: 00953466 (England and Wales)



AUDITORS: DJH Audit Limited
Accountants
Statutory Auditors
The Exchange
5 Bank Street
Bury
BL9 0DN



BANKERS: Barclays Bank plc
PO Box 357
51 Mosley Street
Manchester
M60 2AU

JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their strategic report for the year ended 31 December 2023.

JOST (Great Britain) Limited became a trading entity again on 1 January 2021, having had all assets and liabilities transferred back from JOST UK Limited.

JOST UK has since been divested in May 2021, changing its name to Edbro Hydraulics Limited.

2023 was a mixed year in terms of sales and whilst the turnover grew, negative market effects have influenced the result. The EBIT remains strong largely due to the swift action taken to increase prices in line with cost pressures the business experienced and tight control over cost.

Despite the turnover growing, the product sales volumes for the core business were reduced and this needs to be monitored during 2024 to make sure JOST are still price competitive but in a premium product position.

JOST GB also experienced increased demand for its Heavy Duty Fifth Wheel Slider range which are supplied back to JOST-Werke Deutschland GmbH as intercompany sales, and in turn supplied to truck OE's in Europe for line fitment to vehicles.

JOST GB also began distributing 'Quicke' product, agricultural handling solutions which were added to the JOST Group via the acquisition of ALO AB in 2020. JOST GB acts as a warehousing facility, all order handling is handled by ALO UK offsite. This has added another revenue stream to the GB business whilst also supporting GB customers and sales growth for ALO UK due to reduced lead times and increased product availability.

For the coming year, 2024, the focus of JOST (Great Britain) Limited will be on the continued sales growth of the group's core product range alongside the promotion of new products such as the JAS Drum Brake Axle & the KKS Autonomous Coupling System, along with other safety devices such as King Pin Finder & Drawbar Finder.

Jost (Great Britain) Limited will also focus on growing its truck equipment fitting service which supports JOST's OE market share and continues to support the local customer base in the UK & Ireland with options not available at European Truck OE manufacturing plants. The 'Fitting Shop' has achieved Whole Vehicle Type Approval status from VCA and will play an important role in supporting JOST products in the marketplace.

The 'Fitting Shop' plays an important part in developing talent who understand our products with vital hands-on experience. This will support our market growth through customer support, whilst also supporting our internal targets for long term employee continuity.

There are many challenges facing JOST (Great Britain) Limited in 2024, the main one being the movement of JOST GB from its current premises to a new site within the North West of England. Material & transport costs are still volatile; however, the business had a strong performance in 2023, and is looking to continue its growth in 2024, taking care to manage increased costs by a mixture of activity, ensuring costs are managed in the supply chain and profitability is protected.

ON BEHALF OF THE BOARD:





H M Bystrom - Secretary


21 August 2024

JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the distribution of JOST World products into the UK.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

D Broomfield
F Uhlmann

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-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 transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


AUDITORS
DJH Audit Limited has indicated its willingness to be reappointed for another term and appropriate arrangements are being made for it to be deemed reappointed as auditor in the absence of an Annual General Meeting.

ON BEHALF OF THE BOARD:



H M Bystrom - Secretary


21 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JOST (GREAT BRITAIN) LIMITED


Opinion
We have audited the financial statements of Jost (Great Britain) Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the 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 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 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 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 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
JOST (GREAT BRITAIN) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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 obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102, Companies Act 2006, health and safety legislation and control of substances hazardous to health.
- We enquired of management the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The company did not inform us of any known, suspected or alleged fraud.
- We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.
- Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JOST (GREAT BRITAIN) LIMITED

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

- Identifying and testing journal entries, in particular those that were significant and unusual.
- Performing walkthrough tests of sales and purchases to ensure that appropriate controls and segregation of duties are in place.
- Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.
- Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates, in particular in relation to depreciation and the level of stock provision required.
- Assessing the extent of compliance, or lack of, with the relevant laws and regulations.
- Testing key revenue lines for evidence of management bias.
- Performing a physical verification of key assets, including stock.
- Obtaining third-party confirmation of material bank and loan balances.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Richard Taylor (Senior Statutory Auditor)
for and on behalf of DJH Audit Limited
Accountants
Statutory Auditors
The Exchange
5 Bank Street
Bury
BL9 0DN

27 August 2024

JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

REVENUE 3 14,468,302 12,552,364

Cost of sales (10,556,167 ) (8,531,718 )
GROSS PROFIT 3,912,135 4,020,646

Administrative expenses (2,215,380 ) (2,430,374 )
1,696,755 1,590,272

Other operating income 341,107 431,489
OPERATING PROFIT 6 2,037,862 2,021,761

Write off of intercompany loan 7 - 23,401,608
2,037,862 25,423,369

Interest receivable and similar income 41,648 24,107
2,079,510 25,447,476

Interest payable and similar expenses 8 - (421,772 )
PROFIT BEFORE TAXATION 2,079,510 25,025,704

Tax on profit 9 (524,861 ) (304,543 )
PROFIT FOR THE FINANCIAL YEAR 1,554,649 24,721,161

JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 1,554,649 24,721,161


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,554,649

24,721,161

JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 10 171,455 128,827

CURRENT ASSETS
Inventories 11 2,062,524 1,807,267
Debtors 12 2,138,916 2,775,835
Cash at bank 1,041,655 1,760,601
5,243,095 6,343,703
CREDITORS
Amounts falling due within one year 13 (1,533,764 ) (4,150,765 )
NET CURRENT ASSETS 3,709,331 2,192,938
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,880,786

2,321,765

PROVISIONS FOR LIABILITIES 15 (4,372 ) -
NET ASSETS 3,876,414 2,321,765

CAPITAL AND RESERVES
Called up share capital 16 3,295,000 3,295,000
Retained earnings 17 581,414 (973,235 )
SHAREHOLDERS' FUNDS 3,876,414 2,321,765

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





D Broomfield - Director


JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 3,295,000 (25,694,396 ) (22,399,396 )

Changes in equity
Total comprehensive income - 24,721,161 24,721,161
Balance at 31 December 2022 3,295,000 (973,235 ) 2,321,765

Changes in equity
Total comprehensive income - 1,554,649 1,554,649
Balance at 31 December 2023 3,295,000 581,414 3,876,414

JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

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


1. STATUTORY INFORMATION

Jost (Great Britain) Limited is a company, limited by shares, registered in England and Wales. The company's registered number is 00953466. The registered office is Unit C Birch Business Park, Whittle Lane, Heywood, England, OL10 2SX.

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.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore the directors continue to adopt the going concern basis in preparing the financial statements.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirement of paragraph 33.7.

Revenue
Revenue shown in the income statement represents the value of all goods sold during the period, less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risk and rewards attaching to the product, such as obsolescence, have been transferred to the customer.

Property, plant and equipment
All fixed assets are initially recorded at cost. Cost is defined as the purchase price of the asset plus any direct attributable costs to bring the asset into working condition for its intended use.

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.

Plant & machinery10% - 33% straight line
Motor vehicles25% straight line
Fixtures and fittings12.5% - 20% straight line

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

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

Cost represents purchase price of finished goods.


JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

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


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the statement of financial position date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised on the income statement.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the group. The annual contributions payable are charged to the income statement.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

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


2. ACCOUNTING POLICIES - continued

Critical accounting estimates and judgements
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Estimating the useful economic life of an asset and the anticipated residual value are considered the key judgement in calculating an appropriate depreciation charge.

In categorising leases as finance or operating leases, the directors make judgements as to whether significant risks and rewards of ownership have transferred to the company as lessee.

Making judgement based on historical experience on the level of provision required for bad debts. Further information received after the statement of financial position date may impact on the level of provision required.

Making judgement based on historical experience on the level of provision required for impairment of inventories. Further information received after the statement of financial position date may impact on the level of provision required.

3. REVENUE

The revenue and profit before taxation are attributable to the one principal activity of the company.

An analysis of revenue by geographical market is given below:

2023 2022
£    £   
United Kingdom 12,224,220 10,177,352
Overseas 2,244,082 2,375,012
14,468,302 12,552,364

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 973,114 716,949
Social security costs 96,022 74,704
Other pension costs 58,092 32,086
1,127,228 823,739

JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

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


4. EMPLOYEES AND DIRECTORS - continued

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

Directors 2 2
Sales & Administration 14 13
Warehouse 9 7
25 22

5. DIRECTORS' EMOLUMENTS
2023 2022
£    £   
Directors' remuneration 95,483 114,204
Directors' long term incentive schemes 130,469 -
Directors' pension contributions to money purchase schemes 25,640 4,933

Information regarding the highest paid director for the year ended 31 December 2023 is as follows:
2023
£   
Emoluments etc 225,952
Pension contributions to money purchase schemes 25,640

6. OPERATING PROFIT

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

2023 2022
£    £   
Hire of plant and machinery 55,017 43,304
Depreciation - owned assets 65,250 77,321
Loss on disposal of fixed assets - 6,853
Foreign exchange differences (14,191 ) 528,278
Audit fee 19,750 19,525

7. EXCEPTIONAL ITEMS
2023 2022
£    £   
Write off of intercompany loan - 23,401,608

8. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Interest - 421,708
Interest on late corporation tax - 64
- 421,772

JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

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


9. 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 501,035 312,178
Adjustment to corporation tax
respect of prior period 11,955 (17,185 )
Total current tax 512,990 294,993

Deferred tax 11,871 9,550
Tax on profit 524,861 304,543

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 2,079,510 25,025,704
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2022 - 19%)

519,878

4,754,884

Effects of:
Expenses not deductible for tax purposes 10,884 950
Depreciation in excess of capital allowances 2,670 3,143
Adjustments to tax charge in respect of previous periods (854 ) (5,457 )
Effect of changes in tax rates (31,543 ) (2,671 )
Underprovided in prior year 11,955 -
Deferred tax 11,871 -
Write off of intercompany balance - (4,446,306 )
Total tax charge 524,861 304,543

The Finance Bill 2021 has set out measures to maintain the corporation tax rate for the financial year beginning 1 April 2022. For financial years beginning after 1 April 2023, the corporation tax rate will be increased to 25% for profits over £250,000. A small profits rate (SPR) will also be introduced for companies with profits of £50,000 or less so that they will continue to pay corporation tax at 19%. Companies with profits between £50,000 and £250,000 will pay tax at the main rate reduced by marginal relief. The directors are not aware of any other factors that will materially affect the future tax charge.

JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

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


10. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 102,630 42,206 111,259 256,095
Additions 36,713 - 71,165 107,878
Disposals (12,923 ) - (21,497 ) (34,420 )
At 31 December 2023 126,420 42,206 160,927 329,553
DEPRECIATION
At 1 January 2023 55,693 32,211 39,364 127,268
Charge for year 15,844 2,770 46,636 65,250
Eliminated on disposal (12,923 ) - (21,497 ) (34,420 )
At 31 December 2023 58,614 34,981 64,503 158,098
NET BOOK VALUE
At 31 December 2023 67,806 7,225 96,424 171,455
At 31 December 2022 46,937 9,995 71,895 128,827

11. INVENTORIES
2023 2022
£    £   
Inventories 2,062,524 1,807,267

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,948,863 2,386,320
Deferred tax asset - 7,499
Prepayments and accrued income 190,053 382,016
2,138,916 2,775,835

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 157,260 574,142
Amounts owed to group undertakings 678,736 2,639,987
Corporation tax 42,296 225,591
Social security and other taxes 333,178 276,277
Other creditors 167,797 83,595
Accrued expenses 154,497 351,173
1,533,764 4,150,765

JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

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


14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 65,438 48,589
Between one and five years 128,053 104,544
193,491 153,133

15. PROVISIONS FOR LIABILITIES
2023
£   
Deferred tax 4,372

Deferred
tax
£   
Balance at 1 January 2023 (7,499 )
Provided during year 11,871
Balance at 31 December 2023 4,372

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3,295,000 Ordinary £1 3,295,000 3,295,000

17. RESERVES
Retained
earnings
£   

At 1 January 2023 (973,235 )
Profit for the year 1,554,649
At 31 December 2023 581,414

18. ULTIMATE PARENT AND CONTROLLING PARTY

The intermediate parent company in the current year and prior year was Jost-Werke Deutschland GmbH. At the year end the ultimate parent company and controlling party was Jost Werke SE, a company registered in Germany, whose principal place of business is Siemensstrasse 2, Neu-Isenburg, 63263, Germany.

JOST (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 00953466)

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


19. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.