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REGISTERED NUMBER: 00279524 (England and Wales)





GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

J.BRAND LIMITED

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Consolidated Statement of Income and Retained Earnings 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Cash Flow Statement 11

Notes to the Consolidated Cash Flow Statement 12

Notes to the Consolidated Financial Statements 13


J.BRAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: R J G Lowe
G Jones
T L Oldershaw
D Little
F J Lowe





SECRETARY: D G Wyles





REGISTERED OFFICE: Cumnor Road
Wootton
Oxford
Oxfordshire
OX1 5JW





REGISTERED NUMBER: 00279524 (England and Wales)





AUDITORS: Martin and Company Audit Limited
Chartered Accountants
and Statutory Auditors
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31ST JANUARY 2024


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

REVIEW OF BUSINESS

J. Brand Limited is a long-established service-based business enjoying more than 90 years of delivering first class service, mainly to repeat, long standing customers.

Until now the core service deliveries of the business could be summarised as data cabling and network deployments, electrical contracting and maintenance services, Fire Alarm, EPOS, Wireless LAN, IP CCTV, digital signage and people counting solutions; always focusing on offering a complete service wrap from initial survey and design through to installation, commissioning and on-going field and telephone support. These services are delivered to a consistently high standard on a nationwide basis.

The ''evolution'' of the business has always been driven by technology and a passion by the directors to continually add value to existing customers as well as developing new relationships.

J. Brand continually evolves, diversifies, and embraces new technology with a specific focus on low energy, renewable energy and environmentally beneficial solutions while at the same time recognising the ever-increasing pressures for a demonstrable return on investment (ROI).

To underpin J. Brand Limited's commitment to these areas, the business had developed two subsidiary businesses to ensure that each specific area received the relevant level of focus.

Canopus Solutions Limited was established to focus on secure data destruction of end-of-life IT assets combined with recycling, refurbishing, remarketing and ethical disposal of the asset. The directors made the decision in 2021 that it was beneficial for J Brand Limited to be able to clearly demonstrate the full lifecycle solution including all related Data Destruction & IT Recycling related offerings as part of its own trading activities. The trade and net assets of Canopus Solutions were transferred to J Brand Limited on 1st November 2021 and Canopus Solutions Limited was formally dissolved in March 2023.

Reflect Energy Limited was acquired in February 2012 as an established provider of low energy renewable solutions to the commercial market. The addition of Reflect Energy has meant that the J Brand Ltd Group can maximise the technical capabilities, project management skills and engineering resource of J Brand Ltd with the sales and marketing expertise of an established provider of low energy and renewable energy solutions.The directors made the decision to transfer the trade and net assets of Reflect Energy Limited to J Brand Limited as at 31st January 2024 and apply for Reflect Energy Limited to be dissolved.

The Directors of the J Brand Limited group have made a deliberate and concentrated effort to develop the services of the group and invested significantly in all areas of the business to ensure that the group continues to deliver first class quality and service across all disciplines.

J Brand Limited has continued to grow by "onboarding" new customers and delivering a wider portfolio of services to existing customers, all against a backdrop of global supply chain delays, particularly in the IT sector.

RESULTS

The group made a pre-tax profit of £275,990 (2023: £161,485) for the year on a turnover of £17,582,404 (2023: £13,833,755).

At 31 January 2024 the group had net assets of £2,418,010 (2023: £2,263,602).

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the group relate to the general uncertainty as to the level of economic activity going forward, the ability of the construction industry generally to raise funds for new projects and more specifically for the group to ensure that they minimise any risks from potential bad debt.

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31ST JANUARY 2024



KEY PERFORMANCE INDICATORS

In the opinion of the directors the key performance indicators of the group are turnover, operating profit, EBITDA and return on investment. These are monitored throughout the year by the Board of Directors.

ON BEHALF OF THE BOARD:





R J G Lowe - Director


24th September 2024

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST JANUARY 2024


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

DIVIDENDS
No dividends will be distributed for the year ended 31st January 2024.

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

R J G Lowe
G Jones
T L Oldershaw
D Little
F J Lowe

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

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

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

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

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

ON BEHALF OF THE BOARD:





R J G Lowe - Director


24th September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
J.BRAND LIMITED


Opinion
We have audited the financial statements of J.Brand Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st January 2024 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31st January 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
J.BRAND LIMITED


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

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

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

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

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:

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.

We obtained an understanding of the legal and regulatory framework applicable to the company and the group via discussions with the directors and our previous knowledge of the company and group. This identified that the most significant laws and regulations relate to the form and content of the financial statements such as the UK Companies Act 2006 and Financial Reporting Standard 102. The company and group complies with these laws and regulations by using appropriately qualified professionals to prepare the financial statements.

As part of our planning process we assessed susceptibility of the company's and group's financial statements to material misstatements, including how fraud might occur by making an assessment of the key risks. The key risks identified in respect of J Brand Limited and its subsidiaries are revenue recognition and the impact of performance targets on influencing management override. The directors are not aware of any actual, suspected or alleged cases of fraud.

Based on this assessment we designed our audit procedures to address these key risk areas with an emphasis on testing sales cut off, recognition of revenue and those areas susceptible to management override including testing manual journals and making enquiries of management.

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
J.BRAND 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.




David Barr FCA (Senior Statutory Auditor)
for and on behalf of Martin and Company Audit Limited
Chartered Accountants
and Statutory Auditors
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

2nd October 2024

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31ST JANUARY 2024

2024 2023
Notes £    £   

TURNOVER 3 17,582,404 13,833,755

Cost of sales 12,975,933 10,238,162
GROSS PROFIT 4,606,471 3,595,593

Administrative expenses 4,375,634 3,444,257
230,837 151,336

Other operating income (2,632 ) -
OPERATING PROFIT 5 228,205 151,336

Interest receivable and similar income 47,785 10,149
PROFIT BEFORE TAXATION 275,990 161,485

Tax on profit 6 121,582 11,783
PROFIT FOR THE FINANCIAL YEAR 154,408 149,702

Retained earnings at beginning of year 1,851,212 1,941,510

Dividends 8 - (240,000 )

RETAINED EARNINGS FOR THE
GROUP AT END OF YEAR

2,005,620

1,851,212

Profit attributable to:
Owners of the parent 154,408 149,702

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

CONSOLIDATED BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 173,438 213,162
Investments 11 - -
173,438 213,162

CURRENT ASSETS
Stocks 12 373,002 362,593
Debtors 13 2,287,862 2,119,900
Cash at bank and in hand 3,697,844 2,455,334
6,358,708 4,937,827
CREDITORS
Amounts falling due within one year 14 4,114,136 2,887,387
NET CURRENT ASSETS 2,244,572 2,050,440
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,418,010

2,263,602

CAPITAL AND RESERVES
Called up share capital 16 40,000 40,000
Share premium 17 360,000 360,000
Other reserves 17 12,390 12,390
Retained earnings 17 2,005,620 1,851,212
SHAREHOLDERS' FUNDS 2,418,010 2,263,602

The financial statements were approved by the Board of Directors and authorised for issue on 24th September 2024 and were signed on its behalf by:





R J G Lowe - Director


J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

COMPANY BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 173,438 213,162
Investments 11 - 1
173,438 213,163

CURRENT ASSETS
Stocks 12 373,002 362,593
Debtors 13 2,288,022 2,132,157
Cash at bank and in hand 3,697,844 2,409,044
6,358,868 4,903,794
CREDITORS
Amounts falling due within one year 14 4,113,895 2,885,934
NET CURRENT ASSETS 2,244,973 2,017,860
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,418,411

2,231,023

CAPITAL AND RESERVES
Called up share capital 16 40,000 40,000
Share premium 17 360,000 360,000
Other reserves 17 12,390 12,390
Retained earnings 17 2,006,021 1,818,633
SHAREHOLDERS' FUNDS 2,418,411 2,231,023

Company's profit for the financial year 187,388 139,558

The financial statements were approved by the Board of Directors and authorised for issue on 24th September 2024 and were signed on its behalf by:





R J G Lowe - Director


J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST JANUARY 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,215,847 (161,430 )
Tax paid (23,204 ) (67,271 )
Taxation refund - 11,419
Net cash from operating activities 1,192,643 (217,282 )

Cash flows from investing activities
Purchase of tangible fixed assets - (50,858 )
Sale of tangible fixed assets 2,082 -
Interest received 47,785 10,149
Net cash from investing activities 49,867 (40,709 )

Cash flows from financing activities
Equity dividends paid - (240,000 )
Net cash from financing activities - (240,000 )

Increase/(decrease) in cash and cash equivalents 1,242,510 (497,991 )
Cash and cash equivalents at beginning of
year

2

2,455,334

2,953,325

Cash and cash equivalents at end of year 2 3,697,844 2,455,334

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST JANUARY 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2024 2023
£    £   
Profit before taxation 275,990 161,485
Depreciation charges 39,725 39,625
Profit on disposal of fixed assets (2,082 ) -
Finance income (47,785 ) (10,149 )
265,848 190,961
Increase in stocks (10,409 ) (118,335 )
Increase in trade and other debtors (172,164 ) (243,779 )
Increase in trade and other creditors 1,132,572 9,723
Cash generated from operations 1,215,847 (161,430 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 3,697,844 2,455,334
Year ended 31st January 2023
31.1.23 1.2.22
£    £   
Cash and cash equivalents 2,455,334 2,953,325


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank and in hand 2,455,334 1,242,510 3,697,844
2,455,334 1,242,510 3,697,844
Total 2,455,334 1,242,510 3,697,844

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. STATUTORY INFORMATION

J.Brand 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.

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.

Basis of consolidation
The consolidated profit and loss account and balance sheet include the financial statements of the company and its subsidiary undertakings made up to 31 January 2023. The results of the subsidiaries sold or acquired are included in the profit and loss account up to, or from the date control passes. Intra-group sales and profits are eliminated fully on consolidation.

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

Amounts received in advance are included in creditors as payments on account.

Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

Goodwill created on acquisition of a subsidiary is subject to annual impairment review.

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
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on the following basis:

Long leasehold - Straight line over the life of the lease
Plant and machinery - 10% straight line
Fixtures and fittings - Straight line over 5 - 10 years
Motor vehicles - 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value. Cost includes all direct costs incurred in bringing the stocks to their present location and condition.

The purchase cost of raw materials is calculated on a first in first out basis. The cost of work in progress includes an appropriate proportion of manufacturing overheads. Net realisable value is based on estimated selling price less further costs expected to be incurred to completion and disposal.

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


2. ACCOUNTING POLICIES - continued

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

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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.

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
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.

Judgements and estimation uncertainty
The directors have made judgements in relation to whether there are any indicators of impairment of the company's tangible fixed assets.

Estimation uncertainty relates to tangible fixed assets, turnover and values of work in progress.

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


3. TURNOVER

The total turnover of the group for the year has been derived from its principal activity wholly undertaken in the United Kingdom and Republic of Ireland.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 7,022,102 5,673,024
Social security costs 772,872 634,014
Other pension costs 373,280 191,917
8,168,254 6,498,955

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

Production 139 124
Administration 8 7
147 131

2024 2023
£    £   
Directors' remuneration 1,107,415 749,739
Directors' pension contributions to money purchase schemes 188,063 29,610

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 4 3

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 569,309 338,499

5. OPERATING PROFIT

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

2024 2023
£    £   
Other operating leases 77,981 148,000
Depreciation - owned assets 39,724 37,462
Profit on disposal of fixed assets (2,082 ) -
Goodwill amortisation - 2,161
Auditors' remuneration 17,540 19,100
Foreign exchange differences 2,632 -

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


6. 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 117,380 11,783

Deferred tax 4,202 -
Tax on profit 121,582 11,783

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:

2024 2023
£    £   
Profit before tax 275,990 161,485
Profit multiplied by the standard rate of corporation tax in the UK of
24.030 % (2023 - 19 %)

66,320

30,682

Effects of:
Expenses not deductible for tax purposes 42,419 (1,107 )
Capital allowances in excess of depreciation - (4,444 )
Depreciation in excess of capital allowances 8,641 -
Utilisation of tax losses - (1,927 )
Adjustments to tax charge in respect of previous periods - (11,421 )
Deferred tax 4,202 -
Total tax charge 121,582 11,783

7. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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


8. DIVIDENDS
2024 2023
£    £   
Interim - 240,000

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1st February 2023
and 31st January 2024 155,453
AMORTISATION
At 1st February 2023
and 31st January 2024 155,453
NET BOOK VALUE
At 31st January 2024 -
At 31st January 2023 -

Company
Goodwill
£   
COST
At 1st February 2023
and 31st January 2024 34,287
AMORTISATION
At 1st February 2023
and 31st January 2024 34,287
NET BOOK VALUE
At 31st January 2024 -
At 31st January 2023 -

The goodwill was transferred from the company's subsidiary, Canopus Solutions Ltd. The goodwill relates to the acquisition of a trading business in 2014.

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


10. TANGIBLE FIXED ASSETS

Group
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st February 2023 80,908 75,043 212,737 29,193 397,881
Disposals - - (2,083 ) - (2,083 )
At 31st January 2024 80,908 75,043 210,654 29,193 395,798
DEPRECIATION
At 1st February 2023 45,124 50,654 86,718 2,223 184,719
Charge for year 6,261 7,504 18,767 7,192 39,724
Eliminated on disposal - - (2,083 ) - (2,083 )
At 31st January 2024 51,385 58,158 103,402 9,415 222,360
NET BOOK VALUE
At 31st January 2024 29,523 16,885 107,252 19,778 173,438
At 31st January 2023 35,784 24,389 126,019 26,970 213,162

Company
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st February 2023 80,908 75,043 212,737 29,193 397,881
Disposals - - (2,083 ) - (2,083 )
At 31st January 2024 80,908 75,043 210,654 29,193 395,798
DEPRECIATION
At 1st February 2023 45,124 50,654 86,718 2,223 184,719
Charge for year 6,261 7,504 18,767 7,192 39,724
Eliminated on disposal - - (2,083 ) - (2,083 )
At 31st January 2024 51,385 58,158 103,402 9,415 222,360
NET BOOK VALUE
At 31st January 2024 29,523 16,885 107,252 19,778 173,438
At 31st January 2023 35,784 24,389 126,019 26,970 213,162

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st February 2023 7
Disposals (1 )
At 31st January 2024 6
PROVISIONS
At 1st February 2023
and 31st January 2024 6
NET BOOK VALUE
At 31st January 2024 -
At 31st January 2023 1

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

Subsidiaries

Canopus Solutions Limited
Registered office: UK
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves - 1

The company ceased trading on 31st October 2021 and the trade and net assets were hived up to J Brand Limited at that date. The company was formally dissolved on 28th March 2023.

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


11. FIXED ASSET INVESTMENTS - continued

Reflect Energy Limited
Registered office: UK
Nature of business: Energy management
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves - 33,481
(Loss)/profit for the year (32,981 ) 10,644

The company ceased trading on 31st January 2024 and the trade and net assets were hived up to J Brand Limited at that date.


12. STOCKS

Group Company
2024 2023 2024 2023
£    £    £    £   
Raw materials 23,245 17,360 23,245 17,360
Work-in-progress 349,757 345,233 349,757 345,233
373,002 362,593 373,002 362,593

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 2,041,302 1,927,410 2,041,302 1,927,410
Amounts owed by group undertakings - - 160 12,275
Amounts owed by participating interests 78,023 48,269 78,023 48,268
Other debtors 214 4,539 214 4,539
Prepayments 168,323 139,682 168,323 139,665
2,287,862 2,119,900 2,288,022 2,132,157

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Payments on account 192,132 278,351 192,132 278,351
Trade creditors 964,689 616,333 964,690 615,682
Amounts owed to participating interests 55,329 30,303 55,329 30,303
Tax 117,472 23,296 117,472 23,296
Social security and other taxes 171,501 158,500 171,501 158,500
VAT 709,414 516,165 709,574 516,265
Other creditors 122,612 98,914 122,210 98,512
Accruals and deferred income - 500 - -
Accrued expenses 1,780,987 1,165,025 1,780,987 1,165,025
4,114,136 2,887,387 4,113,895 2,885,934

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 158,000 153,833
Between one and five years 115,667 325,000
273,667 478,833

Company
Non-cancellable operating leases
2024 2023
£    £   
Within one year 158,000 153,833
Between one and five years 115,667 325,000
273,667 478,833

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40,000 Ordinary shares 1.00 40,000 40,000

Called-up share capital represents the nominal value of shares that have been issued.

All ordinary shares rank pari passu.

J.BRAND LIMITED (REGISTERED NUMBER: 00279524)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


17. RESERVES

Group
Retained Share Other
earnings premium reserves Totals
£    £    £    £   

At 1st February 2023 1,851,212 360,000 12,390 2,223,602
Profit for the year 154,408 154,408
At 31st January 2024 2,005,620 360,000 12,390 2,378,010

Company
Retained Share Other
earnings premium reserves Totals
£    £    £    £   

At 1st February 2023 1,818,633 360,000 12,390 2,191,023
Profit for the year 187,388 187,388
At 31st January 2024 2,006,021 360,000 12,390 2,378,411


18. RELATED PARTY DISCLOSURES

During the year the group was charged a management fee of £44,067 (2023: £57,800) by a company controlled by R G Lowe. At 31 January 2023, the group owes £55,329 (2023: £30,303) to the company.

At the year end a company controlled by R G Lowe, owed £77,735 (2023: £48,268).

At the year end a company controlled by R G Lowe, owed £288 (2023: £0).

Key management personnel include all statutory directors who together have authority and responsibility for planning, directing and controlling the activities of the group. The total compensation paid to key management personnel amounted to £1,295,477 (2023: £779,349).

19. ULTIMATE CONTROLLING PARTY

The controlling party is R J G Lowe.

20. PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS

The group operates defined contribution pension schemes. The assets of the scheme are held separately from those of the group in independently administered funds. The pension cost charge represents contributions payable to the fund and amounted to £373,277 (2023: £191,917).