IRIS Accounts Production v24.2.0.383 13071069 Board of Directors 31.12.23 1.1.23 31.12.23 31.12.23 production & application of self adhesive vinyl and digital graphics. true true true false true true false false false false false false true false Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh130710692022-12-31130710692023-12-31130710692023-01-012023-12-31130710692021-12-31130710692022-01-012022-12-31130710692022-12-3113071069ns15:EnglandWales2023-01-012023-12-3113071069ns14:PoundSterling2023-01-012023-12-3113071069ns10:Director12023-01-012023-12-3113071069ns10:Consolidated2023-12-3113071069ns10:ConsolidatedGroupCompanyAccounts2023-01-012023-12-3113071069ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3113071069ns10:Consolidatedns10:FRS1022023-01-012023-12-3113071069ns10:Consolidatedns10:Audited2023-01-012023-12-3113071069ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-01-012023-12-3113071069ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-01-012023-12-3113071069ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-01-012023-12-3113071069ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Consolidated2023-01-012023-12-3113071069ns10:FullAccounts2023-01-012023-12-3113071069ns5:Subsidiary12023-01-012023-12-3113071069ns5:Subsidiary22023-01-012023-12-3113071069ns5:Associate12023-01-012023-12-311307106912023-01-012023-12-3113071069ns10:OrdinaryShareClass12023-01-012023-12-3113071069ns10:Consolidated2023-01-012023-12-3113071069ns10:Director22023-01-012023-12-3113071069ns10:RegisteredOffice2023-01-012023-12-3113071069ns10:Consolidated2022-01-012022-12-3113071069ns5:CurrentFinancialInstruments2023-12-3113071069ns5:CurrentFinancialInstruments2022-12-3113071069ns5:Non-currentFinancialInstruments2023-12-3113071069ns5:Non-currentFinancialInstruments2022-12-3113071069ns5:ShareCapital2023-12-3113071069ns5:ShareCapital2022-12-3113071069ns5:RetainedEarningsAccumulatedLosses2023-12-3113071069ns5:RetainedEarningsAccumulatedLosses2022-12-3113071069ns5:ShareCapital2021-12-3113071069ns5:RetainedEarningsAccumulatedLosses2021-12-3113071069ns5:RetainedEarningsAccumulatedLosses2022-01-012022-12-3113071069ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3113071069ns5:NetGoodwill2023-01-012023-12-3113071069ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3113071069ns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-012023-12-3113071069ns5:PlantMachinery2023-01-012023-12-3113071069ns5:FurnitureFittings2023-01-012023-12-3113071069ns5:MotorVehicles2023-01-012023-12-3113071069ns5:CostValuation2022-12-3113071069ns5:Subsidiary112023-01-012023-12-3113071069ns5:Subsidiary12023-12-3113071069ns5:Subsidiary12022-12-3113071069ns5:Subsidiary12022-01-012022-12-31130710693ns5:Subsidiary22023-01-012023-12-3113071069ns5:Subsidiary22023-12-3113071069ns5:Subsidiary22022-12-3113071069ns5:Subsidiary22022-01-012022-12-31130710691ns5:Associate12023-01-012023-12-3113071069ns5:Associate12023-12-3113071069ns5:Associate12022-12-3113071069ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3113071069ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3113071069ns10:OrdinaryShareClass12023-12-3113071069ns5:RetainedEarningsAccumulatedLosses2022-12-31
REGISTERED NUMBER: 13071069 (England and Wales)















Group Strategic Report, Directors' Report and

Consolidated Financial Statements for the Year Ended 31st December 2023

for

Jadecal Holdings Ltd

Jadecal Holdings Ltd (Registered number: 13071069)






Contents of the Consolidated Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Group Strategic Report 2

Directors' Report 4

Independent Auditors' Report 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Statement of Financial Position 12

Company Statement of Financial Position 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Statement of Cash Flows 16

Notes to the Consolidated Statement of Cash
Flows

17

Notes to the Consolidated Financial
Statements

19


Jadecal Holdings Ltd

Company Information
for the Year Ended 31st December 2023







DIRECTORS: S Ayerst
M Ayerst



REGISTERED OFFICE: 268 Elgar Road South
Reading
Berkshire
RG2 0BT



REGISTERED NUMBER: 13071069 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Iain McMurray ACA



AUDITORS: Thickbroom Coventry
Chartered Accountants
and Statutory Auditors
147a High Street
Waltham Cross
Hertfordshire
EN8 7AP

Jadecal Holdings Ltd (Registered number: 13071069)

Group Strategic Report
for the Year Ended 31st December 2023

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

REVIEW OF BUSINESS
The principal activity of the group is that of the production & application of self-adhesive vinyl and digital graphics.

The group continues to set itself the goal to provide a high standard of product and service through the continued investment in the best technology and people.

The directors are satisfied with the results and performance of the group during the year ended 31 December 2023.

PRINCIPAL RISKS AND UNCERTAINTIES
The group's principal financial instruments comprise bank balances, trade creditors, trade debtors, loans to the company and finance lease agreements. The main purpose of these instruments is to raise funds for the group's operations and to finance the group's operations.

Due to the nature of the financial instruments used by the group there is no exposure to price risk. The group's approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest. The group makes use of money market facilities when funds are available.

The group is a lessee in respect of finance-leased assets. The liquidity risk in respect of these is managed in the same way as loans above.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

BUSINESS RISKS
The group mitigates its business risks by employing high quality staff in all key areas of the business. Along with continued investment in technology the group is confident of dealing with and overcoming any risks as they arise.

FUTURE DEVELOPMENTS
The graphics industry continues to provide plenty of opportunities. The directors remain confident that the group will maintain its position in the market by investing in the latest technology in order to maintain both a quality product and service.


Jadecal Holdings Ltd (Registered number: 13071069)

Group Strategic Report
for the Year Ended 31st December 2023

RESEARCH AND DEVELOPMENT
The group continue to invest in research and development to bring new products to the market. The graphics industry is an evolving market so investing in new products and innovation is important.

ON BEHALF OF THE BOARD:





M Ayerst - Director


10th June 2024

Jadecal Holdings Ltd (Registered number: 13071069)

Directors' Report
for the Year Ended 31st December 2023

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

DIVIDENDS
During the year the company paid monthly interim dividends which equate to £38.67 per share. The directors recommend that no final dividend be paid.

The total distribution of dividends for the period ended 31st December 2023 will be £559,665.

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

S Ayerst
M Ayerst

POLITICAL DONATIONS AND EXPENDITURE
The group made charitable donations during the year amounting to £412 (2022: £10,466).

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Jadecal Holdings Ltd (Registered number: 13071069)

Directors' Report
for the Year Ended 31st December 2023


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

ON BEHALF OF THE BOARD:





M Ayerst - Director


10th June 2024

Independent Auditors' Report to the Members of
Jadecal Holdings Ltd

Opinion
We have audited the financial statements of Jadecal Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st December 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 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.

Independent Auditors' Report to the Members of
Jadecal Holdings Ltd


Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' Report 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.

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

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

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

Independent Auditors' Report to the Members of
Jadecal Holdings Ltd


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 an Auditors' Report 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 framework applicable to the company and the sector in which the operate. We determined that the following laws and regulations were most significant; the Companies Act 2006 and UK corporate taxation laws.

We obtained an understanding of how the company is complying with those legal and regulatory frameworks by making inquiries to the management. We corroborated our inquiries through our review of board minutes and papers provided by those charged with governance.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team include:
- identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
- understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
- challenging assumptions and judgements made by management in its significant accounting estimates;
- identifying and testing journal entries, in particular and journal entries posted with unusual account combinations; and
- assessing the extent of compliance with the relevant laws and regulations.

We have reviewed the financial statements and considered whether they are consistent with our understanding of the entity or indicate a previously unrecognised risk of material misstatement that could be due to fraud.

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 Auditors' Report.

Independent Auditors' Report to the Members of
Jadecal Holdings Ltd


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 an Auditors' Report 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.




Iain McMurray ACA (Senior Statutory Auditor)
for and on behalf of Thickbroom Coventry
Chartered Accountants
and Statutory Auditors
147a High Street
Waltham Cross
Hertfordshire
EN8 7AP

10th June 2024

Jadecal Holdings Ltd (Registered number: 13071069)

Consolidated
Income Statement
for the Year Ended 31st December 2023

2023 2022
Notes £    £    £    £   

TURNOVER 14,595,820 14,115,112

Cost of sales 7,965,443 7,808,273
GROSS PROFIT 6,630,377 6,306,839

Distribution costs 1,054,135 1,136,691
Administrative expenses 5,134,174 4,457,297
6,188,309 5,593,988
442,068 712,851

Other operating income - 116,352
OPERATING PROFIT 4 442,068 829,203


Interest payable and similar
expenses

5

171,581

123,111
PROFIT BEFORE TAXATION 270,487 706,092

Tax on profit 6 161,216 153,143
PROFIT FOR THE FINANCIAL YEAR 109,271 552,949
Profit attributable to:
Owners of the parent 109,271 552,949

Jadecal Holdings Ltd (Registered number: 13071069)

Consolidated
Other Comprehensive Income
for the Year Ended 31st December 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 109,271 552,949


OTHER COMPREHENSIVE INCOME

Income tax relating to other
comprehensive income

-

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


-


-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

109,271

552,949

Total comprehensive income attributable to:
Owners of the parent 109,271 552,949

Jadecal Holdings Ltd (Registered number: 13071069)

Consolidated Statement of Financial Position
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 971,921 1,110,767
Tangible assets 10 3,509,088 3,768,071
Investments 11 - -
4,481,009 4,878,838

CURRENT ASSETS
Stocks 12 496,216 535,754
Debtors 13 2,061,812 2,341,293
Cash at bank 412,583 353,516
2,970,611 3,230,563
CREDITORS
Amounts falling due within one year 14 3,345,103 3,599,736
NET CURRENT LIABILITIES (374,492 ) (369,173 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,106,517

4,509,665

CREDITORS
Amounts falling due after more than
one year

15

(821,683

)

(865,080

)

PROVISIONS FOR LIABILITIES 18 (288,498 ) (197,855 )
NET ASSETS 2,996,336 3,446,730

CAPITAL AND RESERVES
Called up share capital 19 14,473 14,473
Other reserves 20 3,908,989 3,908,989
Retained earnings 20 (927,126 ) (476,732 )
SHAREHOLDERS' FUNDS 2,996,336 3,446,730

The financial statements were approved by the Board of Directors and authorised for issue on 10th June 2024 and were signed on its behalf by:





M Ayerst - Director


Jadecal Holdings Ltd (Registered number: 13071069)

Company Statement of Financial Position
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - -
Investments 11 2,808,105 2,808,105
2,808,105 2,808,105

CURRENT ASSETS
Debtors 13 66,842 110,238
Cash at bank 22,433 11,294
89,275 121,532
CREDITORS
Amounts falling due within one year 14 49,072 40,298
NET CURRENT ASSETS 40,203 81,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,848,308

2,889,339

CREDITORS
Amounts falling due after more than
one year

15

2,793,632

2,793,632
NET ASSETS 54,676 95,707

CAPITAL AND RESERVES
Called up share capital 19 14,473 14,473
Retained earnings 20 40,203 81,234
SHAREHOLDERS' FUNDS 54,676 95,707

Company's profit for the financial
year

518,634

690,832

The financial statements were approved by the Board of Directors and authorised for issue on 10th June 2024 and were signed on its behalf by:





M Ayerst - Director


Jadecal Holdings Ltd (Registered number: 13071069)

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

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1st January 2022 14,473 (338,714 ) 3,908,989 3,584,748

Changes in equity
Dividends - (690,967 ) - (690,967 )
Total comprehensive income - 552,949 - 552,949
Balance at 31st December 2022 14,473 (476,732 ) 3,908,989 3,446,730

Changes in equity
Dividends - (559,665 ) - (559,665 )
Total comprehensive income - 109,271 - 109,271
Balance at 31st December 2023 14,473 (927,126 ) 3,908,989 2,996,336

Jadecal Holdings Ltd (Registered number: 13071069)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st January 2022 14,473 81,369 95,842

Changes in equity
Dividends - (690,967 ) (690,967 )
Total comprehensive income - 690,832 690,832
Balance at 31st December 2022 14,473 81,234 95,707

Changes in equity
Dividends - (559,665 ) (559,665 )
Total comprehensive income - 518,634 518,634
Balance at 31st December 2023 14,473 40,203 54,676

Jadecal Holdings Ltd (Registered number: 13071069)

Consolidated Statement of Cash Flows
for the Year Ended 31st December 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,523,106 1,596,459
Interest paid (10,722 ) (12,829 )
Interest element of hire purchase
payments paid

(160,859

)

(110,282

)
Tax paid (42,567 ) -
Net cash from operating activities 1,308,958 1,473,348

Cash flows from investing activities
Purchase of tangible fixed assets (583,669 ) (196,397 )
Sale of tangible fixed assets 55,626 23,571
Net cash from investing activities (528,043 ) (172,826 )

Cash flows from financing activities
New loans in year 595,864 48,555
Loan repayments in year (229,060 ) (199,999 )
Invoice discounting finance (176,759 ) (236,914 )
Capital repayments in year (352,228 ) (338,159 )
Equity dividends paid (559,665 ) (690,967 )
Net cash from financing activities (721,848 ) (1,417,484 )

Increase/(decrease) in cash and cash equivalents 59,067 (116,962 )
Cash and cash equivalents at
beginning of year

2

353,516

470,478

Cash and cash equivalents at end
of year

2

412,583

353,516

Jadecal Holdings Ltd (Registered number: 13071069)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 31st December 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 270,487 706,092
Depreciation charges 571,007 583,972
Loss/(profit) on disposal of fixed assets 354,863 (4,775 )
Finance costs 171,581 123,111
1,367,938 1,408,400
Decrease/(increase) in stocks 39,538 (81,591 )
Decrease in trade and other debtors 279,481 154,279
(Decrease)/increase in trade and other creditors (163,851 ) 115,371
Cash generated from operations 1,523,106 1,596,459

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31st December 2023
31/12/23 1/1/23
£    £   
Cash and cash equivalents 412,583 353,516
Year ended 31st December 2022
31/12/22 1/1/22
£    £   
Cash and cash equivalents 353,516 470,478


Jadecal Holdings Ltd (Registered number: 13071069)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 31st December 2023

3. ANALYSIS OF CHANGES IN NET DEBT

At 1/1/23 Cash flow At 31/12/23
£    £    £   
Net cash
Cash at bank 353,516 59,067 412,583
353,516 59,067 412,583
Debt
Finance leases (700,263 ) (88,636 ) (788,899 )
Debts falling due within 1 year (1,157,388 ) 138,009 (1,019,379 )
Debts falling due after 1 year (483,334 ) 112,812 (370,522 )
(2,340,985 ) 162,185 (2,178,800 )
Total (1,987,469 ) 221,252 (1,766,217 )

Jadecal Holdings Ltd (Registered number: 13071069)

Notes to the Consolidated Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Jadecal Holdings Ltd 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.

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.

Related party exemption
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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 15% on cost and 10% on cost
Plant and machinery - 15% on cost and 10% on reducing balance
Fixtures and fittings - 30% on cost and 5% on reducing balance
Motor vehicles - 15% on reducing balance

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


Jadecal Holdings Ltd (Registered number: 13071069)

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 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.

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 4,124,783 3,935,297
Social security costs 427,006 418,539
Other pension costs 366,540 363,563
4,918,329 4,717,399

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

Production staff 77 75
Distribution staff 6 5
Administrative staff 30 29
113 109

Jadecal Holdings Ltd (Registered number: 13071069)

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

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees by undertakings that were proportionately consolidated during the year was 109 (2022 - 105 ) .

The aggregate remuneration of the highest paid director during the year amounted to £165,180 (2022: £151,346).

4. OPERATING PROFIT

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

2023 2022
£    £   
Other operating leases 492,949 650,077
Depreciation - owned assets 432,163 445,126
Loss/(profit) on disposal of fixed assets 354,863 (4,775 )
Goodwill amortisation 138,846 138,846
Auditors' remuneration 36,750 35,750

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Loan 10,722 12,829
Hire purchase 160,859 110,282
171,581 123,111

6. 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 152,937 130,220
Tax prior year adjustment (3,888 ) -
R&D claim prior year (53,476 ) -
R&D claim current year (25,000 ) -
Total current tax 70,573 130,220

Deferred tax 90,643 22,923
Tax on profit 161,216 153,143

Tax effects relating to effects of other comprehensive income


Jadecal Holdings Ltd (Registered number: 13071069)

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

6. TAXATION - continued
2022
Gross Tax Net
£    £    £   
Merger reserve on acquisition

7. INDIVIDUAL INCOME STATEMENT

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


8. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim 559,665 690,967

9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 1,388,459
AMORTISATION
At 1st January 2023 277,692
Amortisation for year 138,846
At 31st December 2023 416,538
NET BOOK VALUE
At 31st December 2023 971,921
At 31st December 2022 1,110,767

Jadecal Holdings Ltd (Registered number: 13071069)

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

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st January 2023 328,082 9,686,455 1,874,644 333,428 12,222,609
Additions 25,631 486,268 25,465 46,305 583,669
Disposals - (1,764,778 ) (1,096 ) (95,531 ) (1,861,405 )
At 31st December
2023

353,713

8,407,945

1,899,013

284,202

10,944,873
DEPRECIATION
At 1st January 2023 211,071 6,875,546 1,219,979 147,942 8,454,538
Charge for year 25,037 330,343 50,801 25,982 432,163
Eliminated on disposal - (1,396,769 ) (1,096 ) (53,051 ) (1,450,916 )
At 31st December
2023

236,108

5,809,120

1,269,684

120,873

7,435,785
NET BOOK VALUE
At 31st December
2023

117,605

2,598,825

629,329

163,329

3,509,088
At 31st December
2022

117,011

2,810,909

654,665

185,486

3,768,071

Included within the carrying value of tangible fixed assets are assets held under finance leases or hire purchase agreements amounting to £1,759,254 (2022: £1,487,095).

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st January 2023
and 31st December 2023 2,808,105
NET BOOK VALUE
At 31st December 2023 2,808,105
At 31st December 2022 2,808,105

Jadecal Holdings Ltd (Registered number: 13071069)

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

11. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Vinyl Graphics Limited
Registered office: 268 Elgar Road South, Reading, Berkshire, RG2 0BT
Nature of business: Production & application of vinyl graphics
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 3,301,441 3,578,628
(Loss)/profit for the year (237,187 ) 83,123

Glendining Signs Limited
Registered office: 268 Elgar Road South, Reading, Berkshire, RG2 0BT
Nature of business: Production of signs and boards
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 1,476,323 1,469,654
Profit for the year 449,299 629,135

Associated company

Jadecal Signs Limited
Registered office: 268 Elgar Road South, Reading, Berkshire, RG2 0BT
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 10,000 10,000


12. STOCKS

Group
2023 2022
£    £   
Raw materials 496,216 535,754

Jadecal Holdings Ltd (Registered number: 13071069)

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

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 1,729,507 1,997,409 - -
Trade debtors unbilled 62,500 85,228 - -
Amounts owed by group undertakings - - 26,225 79,430
Other debtors 76,643 36,755 2,128 2,128
Cycle to work scheme 10,433 10,433 10,433 10,433
Prepayments and accrued income 182,729 211,468 28,056 18,247
2,061,812 2,341,293 66,842 110,238

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 16)
238,750

200,000

-

-
Other loans (see note 16) 780,629 957,388 - -
Hire purchase contracts (see note 17)
337,738

318,517

-

-
Trade creditors 661,656 1,045,177 1,025 3,095
Tax 153,334 125,328 - -
Social security and other taxes 114,730 117,530 17,693 12,660
VAT 378,934 282,286 25,472 20,293
Accrued expenses 679,332 553,510 4,882 4,250
3,345,103 3,599,736 49,072 40,298

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

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans (see note 16) 370,522 483,334 - -
Hire purchase contracts (see note 17)
451,161

381,746

-

-
Amounts owed to group undertakings - - 2,793,632 2,793,632
821,683 865,080 2,793,632 2,793,632

Jadecal Holdings Ltd (Registered number: 13071069)

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

16. LOANS

An analysis of the maturity of loans is given below:

Group
2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 238,750 200,000
Invoice discounting 780,629 957,388
1,019,379 1,157,388
Amounts falling due between one and two years:
Bank loans - 1-2 years 238,750 200,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 131,772 283,334

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 337,738 318,517
Between one and five years 451,161 381,746
788,899 700,263

18. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 288,498 197,855

Jadecal Holdings Ltd (Registered number: 13071069)

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

18. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1st January 2023 197,855
Provided during year 90,643
Balance at 31st December 2023 288,498

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
14,473 Ordinary £1 14,473 14,473

20. RESERVES

Group
Retained Other
earnings reserves Totals
£    £    £   

At 1st January 2023 (476,732 ) 3,908,989 3,432,257
Profit for the year 109,271 109,271
Dividends (559,665 ) (559,665 )
At 31st December 2023 (927,126 ) 3,908,989 2,981,863

Company
Retained
earnings
£   

At 1st January 2023 81,234
Profit for the year 518,634
Dividends (559,665 )
At 31st December 2023 40,203