IRIS Accounts Production v24.2.0.383 07835801 Board of Directors 31.3.24 1.4.23 31.3.24 31.3.24 The principal activity of the Group during the year was the manufacture and sale of automotive soft trim components through its subsidiary K J Ryan Ltd. Additional income is obtained from the trading subsidiaries under the brand Lewis Oliver, partly in domestic estate agency and partly though FCA regulated general insurance brokerage. true true true false true true false false false false true false A Ordinary 0 B Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh078358012023-03-31078358012024-03-31078358012023-04-012024-03-31078358012022-03-31078358012022-04-012023-03-31078358012023-03-3107835801ns15:EnglandWales2023-04-012024-03-3107835801ns14:PoundSterling2023-04-012024-03-3107835801ns10:Director12023-04-012024-03-3107835801ns10:Consolidated2024-03-3107835801ns10:ConsolidatedGroupCompanyAccounts2023-04-012024-03-3107835801ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107835801ns10:Consolidatedns10:FRS1022023-04-012024-03-3107835801ns10:Consolidatedns10:Audited2023-04-012024-03-3107835801ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-04-012024-03-3107835801ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-04-012024-03-3107835801ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-04-012024-03-3107835801ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Consolidated2023-04-012024-03-3107835801ns10:FullAccounts2023-04-012024-03-3107835801ns5:Subsidiary12023-04-012024-03-3107835801ns5:Subsidiary22023-04-012024-03-3107835801ns10:OrdinaryShareClass12023-04-012024-03-3107835801ns10:OrdinaryShareClass22023-04-012024-03-3107835801ns10:Consolidated2023-04-012024-03-3107835801ns10:Director62023-04-012024-03-3107835801ns10:Director72023-04-012024-03-3107835801ns10:RegisteredOffice2023-04-012024-03-3107835801ns10:Director52023-04-012024-03-3107835801ns10:Director32023-04-012024-03-3107835801ns10:Director22023-04-012024-03-3107835801ns10:Director42023-04-012024-03-3107835801ns10:Consolidated2022-04-012023-03-3107835801ns5:ShareCapital2024-03-3107835801ns5:ShareCapital2023-03-3107835801ns5:RetainedEarningsAccumulatedLosses2024-03-3107835801ns5:RetainedEarningsAccumulatedLosses2023-03-3107835801ns5:ShareCapital2022-03-3107835801ns5:RetainedEarningsAccumulatedLosses2022-03-3107835801ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3107835801ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3107835801ns5:CostValuation2023-03-3107835801ns5:DisposalsRepaymentsInvestments2024-03-3107835801ns5:CostValuation2024-03-3107835801ns5:Subsidiary112023-04-012024-03-3107835801ns5:Subsidiary122023-04-012024-03-31078358013ns5:Subsidiary22023-04-012024-03-3107835801ns5:CurrentFinancialInstruments2024-03-3107835801ns5:CurrentFinancialInstruments2023-03-3107835801ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107835801ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107835801ns10:OrdinaryShareClass12024-03-3107835801ns10:OrdinaryShareClass22024-03-3107835801ns5:RetainedEarningsAccumulatedLosses2023-03-31
REGISTERED NUMBER: 07835801 (England and Wales)





















GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

K J RYAN HOLDINGS LIMITED

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Statement of Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


K J RYAN HOLDINGS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: K J Ryan
G Maiolo
E Riccobon





REGISTERED OFFICE: One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB





REGISTERED NUMBER: 07835801 (England and Wales)





AUDITORS: Dafferns LLP
Chartered Accountants
Statutory Auditor
One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

GROUP STRATEGIC REPORT
for the year ended 31 March 2024

The directors present their strategic report of the company and the group for the year ended 31 March 2024.

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

The principal activity of the Group during the year was the manufacture and sale of automotive soft trim components through its subsidiary K J Ryan Ltd. Additional income is obtained from the trading subsidiaries under the brand Lewis Oliver, mainly in domestic estate agency.

PRINCIPAL RISKS AND UNCERTAINTIES
K J Ryan Ltd: - continued high costs within utilities and wage rates have placed gross margin under strain within the trading year. These difficulties were alleviated during the 2023/24 year with new contractual rates that are anticipated to apply in the 2024/25 trading year.

The group considers the financial instability within the UK markets and increased costs the main factors that necessitate cautious financial planning. All available diversification strategies are being applied to evenly spread income in the coming year.

KEY PERFORMANCE INDICATORS
We consider that our key financial performance indicators are those that communicate the financial performance of the group as a whole, these being turnover, gross margin and return on capital employed.

2024 2023
£'000 £'000

Turnover 17,302 11,705
Gross profit margin % 18.12% 15.32%
Profit before tax 1,343 114

Turnover has been maintained at an acceptable level in line with budget expectation and market diversification across the group.

Return on capital employed has decreased to 32.2% (2023: 2.9%).

ON BEHALF OF THE BOARD:





K J Ryan - Director


26 July 2024

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

REPORT OF THE DIRECTORS
for the year ended 31 March 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2024.

DIVIDENDS
Interim dividends per share were paid as follows:
A Ordinary £1 shares £7.91 - 24 March 2024
B Ordinary £1 shares £86.00 - 24 March 2024


The directors recommend that no final dividends be paid.

The total distribution of dividends for the year ended 31 March 2024 will be £ 392,470 .

FUTURE DEVELOPMENTS
Future developments have been detailed in the strategic report in accordance with s414C(11) CA 2006.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
K J Ryan has held office during the whole of the period from 1 April 2023 to the date of this report.

Other changes in directors holding office are as follows:

G Maiolo and E Riccobon were appointed as directors after 31 March 2024 but prior to the date of this report.

Mrs W Ryan , Mrs E J Lovatt , Mrs A J Wood and Mrs C J O'Sullivan ceased to be directors after 31 March 2024 but prior to the date of this report.

The directors have considered the working capital requirements of the group and believe that the resources available to them are sufficient and appropriate for the continuing trading needs of the group. As a result of this assessment, the going concern assumption continues to be adopted in the preparation of these financial statements.

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.

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

REPORT OF THE DIRECTORS
for the year ended 31 March 2024


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.

AUDITORS
The auditors, Dafferns LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





K J Ryan - Director


26 July 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
K J RYAN HOLDINGS LIMITED

Opinion
We have audited the financial statements of K J Ryan Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 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 31 March 2024 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
K J RYAN 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 Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

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

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

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management around actual and potential litigation and claims;
- Enquiry of entity staff in compliance functions to identify any instances of non-compliance with laws and regulations;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations
- Performing 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
K J RYAN 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.




Martin Gibbs FCCA (Senior Statutory Auditor)
for and on behalf of Dafferns LLP
Chartered Accountants
Statutory Auditor
One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB

26 July 2024

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

CONSOLIDATED
STATEMENT OF COMPREHENSIVE
INCOME
for the year ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 4 17,302,477 11,704,912

Cost of sales 14,164,517 9,911,372
GROSS PROFIT 3,137,960 1,793,540

Administrative expenses 1,879,872 1,675,577
OPERATING PROFIT 6 1,258,088 117,963

Profit/loss on sale of invest 8 94,069 -
1,352,157 117,963

Interest receivable and similar income 94 25
1,352,251 117,988

Interest payable and similar expenses 9 9,122 3,584
PROFIT BEFORE TAXATION 1,343,129 114,404

Tax on profit 10 320,200 20,565
PROFIT FOR THE FINANCIAL YEAR 1,022,929 93,839

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

1,022,929

93,839

Profit attributable to:
Owners of the parent 1,022,929 93,839

Total comprehensive income attributable to:
Owners of the parent 1,022,929 93,839

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

CONSOLIDATED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 13 419,430 527,754
Investments 14 - -
Investment property 15 - 787,154
419,430 1,314,908

CURRENT ASSETS
Stocks 16 491,493 422,819
Debtors 17 5,722,391 3,983,315
Cash at bank and in hand 808,050 477,013
7,021,934 4,883,147
CREDITORS
Amounts falling due within one year 18 2,791,252 2,094,928
NET CURRENT ASSETS 4,230,682 2,788,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,650,112

4,103,127

CREDITORS
Amounts falling due after more than one
year

19

(43,291

)

(108,365

)

PROVISIONS FOR LIABILITIES 22 (96,000 ) (114,400 )
NET ASSETS 4,510,821 3,880,362

CAPITAL AND RESERVES
Called up share capital 23 20,000 20,000
Retained earnings 24 4,490,821 3,860,362
SHAREHOLDERS' FUNDS 4,510,821 3,880,362

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:





K J Ryan - Director


K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

COMPANY BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 13 - -
Investments 14 20,000 20,001
Investment property 15 - -
20,000 20,001

CURRENT ASSETS
Debtors 17 2,026,055 1,646,055
Cash at bank 439,272 339,313
2,465,327 1,985,368
NET CURRENT ASSETS 2,465,327 1,985,368
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,485,327

2,005,369

CAPITAL AND RESERVES
Called up share capital 23 20,000 20,000
Retained earnings 24 2,465,327 1,985,369
SHAREHOLDERS' FUNDS 2,485,327 2,005,369

Company's profit for the financial year 872,428 392,430

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:





K J Ryan - Director


K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the year ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 20,000 4,159,023 4,179,023

Changes in equity
Dividends - (392,500 ) (392,500 )
Total comprehensive income - 93,839 93,839
Balance at 31 March 2023 20,000 3,860,362 3,880,362

Changes in equity
Dividends - (392,470 ) (392,470 )
Total comprehensive income - 1,022,929 1,022,929
Balance at 31 March 2024 20,000 4,490,821 4,510,821

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

COMPANY STATEMENT OF CHANGES IN EQUITY
for the year ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 20,000 1,985,439 2,005,439

Changes in equity
Dividends - (392,500 ) (392,500 )
Total comprehensive income - 392,430 392,430
Balance at 31 March 2023 20,000 1,985,369 2,005,369

Changes in equity
Dividends - (392,470 ) (392,470 )
Total comprehensive income - 872,428 872,428
Balance at 31 March 2024 20,000 2,465,327 2,485,327

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 March 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 853,463 163,910
Interest element of hire purchase payments
paid

(9,122

)

(3,584

)
Tax paid (7,125 ) (85,195 )
Net cash from operating activities 837,216 75,131

Cash flows from investing activities
Purchase of tangible fixed assets (10,962 ) (168,083 )
Purchase of investment property - (182,097 )
Net cashflow on disposal of subsidiary (17,994 ) -
Interest received 94 25
Net cash from investing activities (28,862 ) (350,155 )

Cash flows from financing activities
Capital repayments in year (65,074 ) 90,664
Amount introduced by directors - 817
Amount withdrawn by directors (19,773 ) -
Equity dividends paid (392,470 ) (392,500 )
Net cash from financing activities (477,317 ) (301,019 )

Increase/(decrease) in cash and cash equivalents 331,037 (576,043 )
Cash and cash equivalents at beginning
of year

2

477,013

1,053,056

Cash and cash equivalents at end of year 2 808,050 477,013

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Profit before taxation 1,343,129 114,404
Depreciation charges 109,841 106,529
Gain on disposal of subsidiary (94,069 ) -
Finance costs 9,122 3,584
Finance income (94 ) (25 )
1,367,929 224,492
(Increase)/decrease in stocks (68,674 ) 271,666
Increase in trade and other debtors (833,809 ) (1,152,928 )
Increase in trade and other creditors 388,017 820,680
Cash generated from operations 853,463 163,910

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 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 808,050 477,013
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 477,013 1,053,056


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 477,013 331,037 808,050
477,013 331,037 808,050
Debt
Finance leases (176,139 ) 65,074 (111,065 )
(176,139 ) 65,074 (111,065 )
Total 300,874 396,111 696,985

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

K J Ryan 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 Company's place of business is Unit 3, Wayside Business Park, Coventry, CV6 6NY.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The consolidated financial statements include the results of the parent company and its subsidiaries.

As a consolidated income statement is published, a separate income statements for the parent company is omitted from the consolidated financial statements by virtue of section 408 of the Companies Act 2006.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, typically on dispatch of the goods.

Employment support income
Grant income received from the UK's Coronavirus Job Retention Scheme has been recognised in the period in which the related staff expense was incurred. This income has been recognised in other operating income.

Tangible fixed assets
Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Repairs and maintenance costs are charged to the income statement in the period in which they are incurred.

Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life.

Plant and machinery- 20% on reducing balance
Fixtures and fittings- 25% and 20% on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 25% and 20% on reducing balance and 25% straight line

Any gains and losses on the disposal of tangible fixed assets are recognised in the income statement in the year that the disposal takes place.

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

3. ACCOUNTING POLICIES - continued

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

Financial instruments
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset in measured at the present value of the future receipts discounted at a market rate of interest.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

3. 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.

4. TURNOVER

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

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 16,445,496 11,032,600
Europe 836,986 664,160
South America 19,995 8,152
17,302,477 11,704,912

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,843,289 2,882,203
Social security costs 334,868 240,893
Other pension costs 119,978 110,938
4,298,135 3,234,034

The average number of employees during the year was as follows:
2024 2023

Management & administration 10 10
Production 144 117
154 127

2024 2023
£    £   
Directors' remuneration 61,668 55,416

Key management are considered to be the directors of the group and their compensation paid or payable is shown above.

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

6. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 67,200 73,777
Depreciation - assets on hire purchase contracts 42,641 32,752
Foreign exchange differences 2,293 40,345

7. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

6,300

6,600

8. EXCEPTIONAL ITEMS
2024 2023
£    £   
Profit/loss on sale of invest 94,069 -

9. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Hire purchase 9,122 3,584

10. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 336,200 7,125
Prior year adjustment - 40
Total current tax 336,200 7,165

Deferred tax (16,000 ) 13,400
Tax on profit 320,200 20,565

UK corporation tax has been charged at 25 % .

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

10. TAXATION - continued

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

2024 2023
£    £   
Profit before tax 1,343,129 114,404
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

335,782

21,737

Effects of:
Expenses not deductible for tax purposes 7,739 (4,761 )
Adjustments to tax charge in respect of previous periods - 40
Adjustments in respect of prior year deferred tax - 3,315
Gain on disposal of subsidiary (23,517 ) -
Rounding 196 234
Total tax charge 320,200 20,565

11. 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.


12. DIVIDENDS
2024 2023
£    £   
A Ordinary shares of £1 each
Interim 134,470 136,000
B Ordinary shares of £1 each
Interim 258,000 256,500
392,470 392,500

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

13. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 1,697,561 98,216 58,247 86,904 1,940,928
Additions 2,500 6,965 - 1,497 10,962
Disposals - (42,725 ) - (15,977 ) (58,702 )
At 31 March 2024 1,700,061 62,456 58,247 72,424 1,893,188
DEPRECIATION
At 1 April 2023 1,215,357 73,998 51,195 72,624 1,413,174
Charge for year 94,921 8,614 1,763 4,543 109,841
Eliminated on disposal - (37,497 ) - (11,760 ) (49,257 )
At 31 March 2024 1,310,278 45,115 52,958 65,407 1,473,758
NET BOOK VALUE
At 31 March 2024 389,783 17,341 5,289 7,017 419,430
At 31 March 2023 482,204 24,218 7,052 14,280 527,754

Included in the total net book value of plant and machinery and motor vehicles was £170,564 (2023: £213,205) in respect of assets held under finance leases.

14. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2023 20,001
Disposals (1 )
At 31 March 2024 20,000
NET BOOK VALUE
At 31 March 2024 20,000
At 31 March 2023 20,001

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

14. FIXED ASSET INVESTMENTS - continued

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

Subsidiaries

K J Ryan Limited
Registered office: One Eastwood, Harry Weston Road, Binley Business Park, Coventry CV3 2UB.
Nature of business: Automotive interior trim specialists
%
Class of shares: holding
Ordinary A £1 100.00
Ordinary B £1 100.00

Lewis Oliver Estates Limited
Registered office: One Eastwood, Harry Weston Road, Binley Business Park, Coventry CV3 2UB.
Nature of business: Estate agents
%
Class of shares: holding
Ordinary £1

Lewis Oliver Estates Limited was disposed on 09/12/2023.


15. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 April 2023 787,154
Disposals (787,154 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 787,154

16. STOCKS

Group
2024 2023
£    £   
Raw materials 491,493 422,819

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 4,782,911 3,944,844 - -
Amounts owed by group undertakings - - 1,129,246 1,645,085
Other debtors 896,809 970 896,809 970
Directors' current accounts 16,562 - - -
Prepayments and accrued income 26,109 37,501 - -
5,722,391 3,983,315 2,026,055 1,646,055

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Hire purchase contracts (see note 20) 67,774 67,774
Trade creditors 1,703,171 1,486,774
Tax 327,000 7,125
VAT 573,053 424,027
Other creditors 319 11,512
Directors' current accounts - 3,211
Accruals and deferred income 119,935 94,505
2,791,252 2,094,928

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

Group
2024 2023
£    £   
Hire purchase contracts (see note 20) 43,291 108,365

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 67,774 67,774
Between one and five years 43,291 108,365
111,065 176,139

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

20. LEASING AGREEMENTS - continued

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 142,363 290,140
Between one and five years 443,680 482,203
In more than five years - 18,880
586,043 791,223

21. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Hire purchase contracts 111,065 176,139

The bank overdraft is secured by fixed and floating charges dated 16 January 2015 over all assets of the company.

22. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 96,000 114,400

Group
Deferred
tax
£   
Balance at 1 April 2023 114,400
Credit to Statement of Comprehensive Income during year (18,400 )
Balance at 31 March 2024 96,000

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
8,000 A Ordinary £1 8,000 17,000
12,000 B Ordinary £1 12,000 3,000
20,000 20,000

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

24. RESERVES

Group
Retained
earnings
£   

At 1 April 2023 3,860,362
Profit for the year 1,022,929
Dividends (392,470 )
At 31 March 2024 4,490,821

Company
Retained
earnings
£   

At 1 April 2023 1,985,369
Profit for the year 872,428
Dividends (392,470 )
At 31 March 2024 2,465,327

Retained Earnings

The retained earnings account represents cumulative profits and losses net of dividends and other adjustments.

25. PENSION COMMITMENTS

The group operates a defined contribution scheme for the director and certain employees. Contributions to the scheme during the financial year amounting to £120,521 (2023: £110,939) have been charged to the profit and loss account. At 31 March 2024 there were £nil of contributions that had not been paid over to the pension scheme (2023: £12,977).

26. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
K J Ryan
Balance outstanding at start of year - -
Amounts advanced 103,835 -
Amounts repaid (87,010 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,825 -

K J RYAN HOLDINGS LIMITED (REGISTERED NUMBER: 07835801)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

26. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs W Ryan
Balance outstanding at start of year - -
Amounts advanced 47,448 -
Amounts repaid (47,460 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (12 ) -

Mrs E J Lovatt
Balance outstanding at start of year - -
Amounts advanced 85,907 -
Amounts repaid (86,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (93 ) -

Mrs A J Wood
Balance outstanding at start of year - -
Amounts advanced 85,909 -
Amounts repaid (86,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (91 ) -

Mrs C J O'Sullivan
Balance outstanding at start of year - -
Amounts advanced 85,933 -
Amounts repaid (86,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (67 ) -

27. POST BALANCE SHEET EVENTS

On 12th June, 2024, Poltrona Frau, registered in Italy, acquired 72% share capital of the group.

The ultimate parent undertaking and controlling party is Haworth Inc, incorporated in Michigan.