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REGISTERED NUMBER: 06368224 (England and Wales)
























STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

JJC HIRE LIMITED

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)






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




Page

Company Information 1

Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


JJC HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Mr M H Cronje


REGISTERED OFFICE: Sandscale Park Industrial Estate
Park Road
Barrow in Furness
Cumbria
LA14 4QT


REGISTERED NUMBER: 06368224 (England and Wales)


SENIOR STATUTORY AUDITOR: Simon Oram MA FCCA


AUDITORS: Melville & Co
17/18 Trinity Enterprise Centre
Furness Business Park
Ironworks Road
Barrow in Furness
Cumbria
LA14 2PN


BANKERS: The Royal Bank of Scotland plc
234-236 Dalton Road
Barrow in Furness
Cumbria

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024

The director presents his strategic report for the year ended 31 January 2024.

INTRODUCTION
This strategic report provides an overview of JJC Hire Ltd.'s performance for the financial year ending 31st January 2024. It outlines our business model, strategic objectives, key achievements, risks, and future outlook. This report is prepared in compliance with applicable regulations and aims to offer a transparent view of our operations and goals to our stakeholders.

BUSINESS MODEL
Our business model is centred on providing sustainable and efficient waste management solutions that prioritize environmental responsibility, operational excellence, and customer satisfaction. We offer a comprehensive range of services, including waste collection, recycling, and disposal, tailored to meet the needs of residential, commercial, and industrial clients.
By leveraging advanced technologies and data-driven practices, we optimize resource recovery and minimize landfill contributions, aligning with global sustainability goals. Our revenue streams are driven by service contracts, recycling operations, and value-added waste-to-energy initiatives.

REVIEW OF BUSINESS
During the financial year, JJC Hire Ltd. achieved significant milestones, including:

- Turnover growth: Turnover increased by 93% reaching £33,626,032.
- Market expansion: Entered new markets in Scotland.

Key performance indicators (KPIs) for the year include:

- Turnover: £33,626,032
- Customer retention rate: 96%

PRINCIPAL RISKS AND UNCERTAINTIES
We face several risks that could impact our business operations, including:

- Market volatility: Fluctuations in demand and pricing.
- Mitigation: Diversifying our product portfolio and market reach.

- Regulatory changes: Evolving compliance requirements.
- Mitigation: Strengthening our compliance and legal teams.

- Supply chain disruptions: Potential delays in raw materials or logistics.
- Mitigation: Developing alternative sourcing strategies and inventory management systems.

STRATEGIC OBJECTIVES
Our strategy focuses on achieving sustainable growth through:

- Innovation: Investing in research and development to deliver cutting-edge solutions.

- Customer engagement: Enhancing customer experience through tailored offerings and superior service.

- Sustainability: Implementing eco-friendly practices to minimize our environmental impact.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG)
As part of our commitment to sustainability, JJC Hire Ltd. has:

- Reduced carbon emissions through the installation of solar panels across our facilities and driving efficiency improvements using advanced telematics in our fleet operations.

- Enhanced governance practices through significant improvements to our health and safety systems. A dedicated, qualified health and safety professional has been appointed to oversee these enhancements and implement key measures to ensure a safer working environment for all employees.


JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024

FUTURE OUTLOOK
Looking ahead, JJC Hire Ltd. anticipates continued growth and innovation in the waste management sector. Key drivers of revenue growth include leveraging emerging market trends, such as increased demand for sustainable waste solutions and government initiatives supporting recycling and waste-to-energy projects. Our strategic investments in safety enhancements and the installation of solar panels across our facility will further improve operational efficiency and reduce environmental impact.

We recognize potential challenges, including economic uncertainties and increased competition in the industry. To address these challenges, we are focusing on:

- Economic resilience: Diversifying our client base and optimising operational costs to remain competitive during economic downturns.
- Competitive differentiation: Investing in cutting-edge technologies and expanding our service offerings to deliver superior value to customers.
- Strategic partnerships: Collaborating with councils and businesses to secure long-term contracts and enhance service reach.

Our forward-looking initiatives will not only strengthen our market position but also align with our commitment to creating a sustainable future. By addressing these challenges with proactive strategies, JJC Hire Ltd. is poised to maintain its leadership and deliver value to stakeholders.

STATEMENT OF COMPLIANCE
This report has been prepared in accordance the UK Companies Act 2006.

ON BEHALF OF THE BOARD:





Mr M H Cronje - Director


31 January 2025

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 JANUARY 2024

The director presents his report with the financial statements of the company for the year ended 31 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of skip hire and scrap metal merchants.

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

DIRECTOR
Mr M H Cronje held office during the whole of the period from 1 February 2023 to the date of this report.

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

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

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

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

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

ON BEHALF OF THE BOARD:





Mr M H Cronje - Director


31 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JJC HIRE LIMITED

Opinion
We have audited the financial statements of JJC Hire Limited (the 'company') for the year ended 31 January 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 January 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JJC HIRE LIMITED


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

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

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

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures, in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

-Enquiry of management, and those charged with governance around actual and potential litigation and claims.
-Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
-Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

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.

Other matter
The financial statements of the Company for the year ended 31 January 2023 were not audited.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JJC HIRE 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.




Simon Oram MA FCCA (Senior Statutory Auditor)
for and on behalf of Melville & Co
17/18 Trinity Enterprise Centre
Furness Business Park
Ironworks Road
Barrow in Furness
Cumbria
LA14 2PN

31 January 2025

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   

TURNOVER 3 33,626,032 17,345,073

Cost of sales 17,670,587 7,466,506
GROSS PROFIT 15,955,445 9,878,567

Distribution costs 10,052,221 6,759,527
Administrative expenses 5,677,507 2,011,591
15,729,728 8,771,118
225,717 1,107,449

Other operating income 4 1,072,205 1,040,882
OPERATING PROFIT 6 1,297,922 2,148,331

Interest receivable and similar income 7 - 371
1,297,922 2,148,702

Interest payable and similar expenses 8 567,947 352,862
PROFIT BEFORE TAXATION 729,975 1,795,840

Tax on profit 9 772,797 -
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(42,822

)

1,795,840

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024

31.1.24 31.1.23
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (42,822 ) 1,795,840


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(42,822

)

1,795,840

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 15,334,574 11,669,425
15,334,574 11,669,425

CURRENT ASSETS
Stocks 12 566,837 547,144
Debtors 13 1,826,542 2,049,818
Cash at bank and in hand 113,470 742,047
2,506,849 3,339,009
CREDITORS
Amounts falling due within one year 14 5,948,047 3,535,387
NET CURRENT LIABILITIES (3,441,198 ) (196,378 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,893,376

11,473,047

CREDITORS
Amounts falling due after more than one
year

15

(4,264,670

)

(4,348,145

)

PROVISIONS FOR LIABILITIES 19 (1,044,159 ) (497,533 )
NET ASSETS 6,584,547 6,627,369

CAPITAL AND RESERVES
Called up share capital 20 800,006 800,006
Retained earnings 21 5,784,541 5,827,363
SHAREHOLDERS' FUNDS 6,584,547 6,627,369

The financial statements were approved by the director and authorised for issue on 31 January 2025 and were signed by:





Mr M H Cronje - Director


JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 February 2022 800,006 4,031,523 4,831,529

Changes in equity
Total comprehensive income - 1,795,840 1,795,840
Balance at 31 January 2023 800,006 5,827,363 6,627,369

Changes in equity
Total comprehensive income - (42,822 ) (42,822 )
Balance at 31 January 2024 800,006 5,784,541 6,584,547

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

31.1.24 31.1.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,120,430 2,897,333
Interest paid (67,147 ) (46,400 )
Interest element of hire purchase payments
paid

(500,800

)

(306,462

)
Tax paid - 25,898
Net cash from operating activities 3,552,483 2,570,369

Cash flows from investing activities
Purchase of tangible fixed assets (6,271,690 ) (6,095,742 )
Sale of tangible fixed assets 637,572 2,279,475
Interest received - 371
Net cash from investing activities (5,634,118 ) (3,815,896 )

Cash flows from financing activities
New finance in year 4,041,025 3,506,018
Capital repayments in year (2,438,619 ) (1,935,641 )
Amount introduced by directors (314,348 ) 9,744
Government grants 165,000 5,334
Net cash from financing activities 1,453,058 1,585,455

(Decrease)/increase in cash and cash equivalents (628,577 ) 339,928
Cash and cash equivalents at beginning of
year

2

742,047

402,119

Cash and cash equivalents at end of year 2 113,470 742,047

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

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

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31.1.24 31.1.23
£    £   
Profit before taxation 729,975 1,795,840
Depreciation charges 1,947,398 1,338,517
Loss/(profit) on disposal of fixed assets 21,571 (232,352 )
Government grants (165,000 ) (5,334 )
Finance costs 567,947 352,862
Finance income - (371 )
3,101,891 3,249,162
(Increase)/decrease in stocks (19,693 ) 6,580
Increase in trade and other debtors (2,895 ) (922,144 )
Increase in trade and other creditors 1,041,127 563,735
Cash generated from operations 4,120,430 2,897,333

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 January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 113,470 742,047
Year ended 31 January 2023
31.1.23 1.2.22
£    £   
Cash and cash equivalents 742,047 402,119


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank and in hand 742,047 (628,577 ) 113,470
742,047 (628,577 ) 113,470
Debt
Finance leases (4,988,616 ) (1,944,321 ) (6,932,937 )
Debts falling due within 1 year (122,400 ) 36,489 (85,911 )
Debts falling due after 1 year (1,197,423 ) 619,774 (577,649 )
(6,308,439 ) (1,288,058 ) (7,596,497 )
Total (5,566,392 ) (1,916,635 ) (7,483,027 )

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

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

1. STATUTORY INFORMATION

JJC Hire 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

The financial statements have been prepared on the going concern basis the director having agreed to continue to support the company.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, 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.

Number plates are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Rental income
Rents received are calculated on the accruals basis and represents net rental value excluding VAT.

3. TURNOVER

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

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

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

4. OTHER OPERATING INCOME
31.1.24 31.1.23
£    £   
Rents received 394,376 385,525
Sundry receipts 512,829 650,023
Grants received 165,000 5,334
1,072,205 1,040,882

5. EMPLOYEES AND DIRECTORS
31.1.24 31.1.23
£    £   
Wages and salaries 4,196,183 2,397,898
Social security costs 446,135 254,587
Other pension costs 71,891 48,420
4,714,209 2,700,905

The average number of employees during the year was as follows:
31.1.24 31.1.23

Directors and management 3 3
Administration 4 4
Operational 75 51
82 58



31.1.24 31.1.23
£    £   
Director's remuneration 43,599 29,463

Included in wages is an amount for key management personnel of £156,003 (2023 - £13,000)

6. OPERATING PROFIT

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

31.1.24 31.1.23
£    £   
Depreciation - owned assets 1,947,398 1,336,875
Loss/(profit) on disposal of fixed assets 21,571 (232,352 )
Goodwill amortisation - 1,500
Number plates amortisation - 142
Auditors' remuneration 7,500 -
Foreign exchange differences 82 95

The auditors remuneration is fees payable to the company's auditors for the audit of the company's financial statements.

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

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

7. INTEREST RECEIVABLE AND SIMILAR INCOME
31.1.24 31.1.23
£    £   
Interest received - 371

8. INTEREST PAYABLE AND SIMILAR EXPENSES
31.1.24 31.1.23
£    £   
Interest on bank overdraft 3,792 8,063
Interest on bank loans 60,888 29,885
Interest on other loans 2,307 8,452
Statutory interest and charges 160 -
Interest on hire purchase 500,800 306,462
567,947 352,862

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.1.24 31.1.23
£    £   
Current tax:
UK corporation tax 226,171 -

Deferred tax 546,626 -
Tax on profit 772,797 -

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:

31.1.24 31.1.23
£    £   
Profit before tax 729,975 1,795,840
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2023 - 19%)

138,695

341,210

Effects of:
Capital allowances in excess of depreciation - (751,148 )
Depreciation in excess of capital allowances 546,626 -
Utilisation of tax losses (138,695 ) 409,938
Adjustments to tax charge in respect of previous periods 226,171 -
Total tax charge 772,797 -

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

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

10. INTANGIBLE FIXED ASSETS
Number
Goodwill plates Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 15,000 9,264 24,264
AMORTISATION
At 1 February 2023
and 31 January 2024 15,000 9,264 24,264
NET BOOK VALUE
At 31 January 2024 - - -
At 31 January 2023 - - -

11. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 February 2023 1,906,848 1,893,810 6,801,648
Additions - 1,557,296 2,334,809
Disposals (6,930 ) - (553,038 )
At 31 January 2024 1,899,918 3,451,106 8,583,419
DEPRECIATION
At 1 February 2023 224,224 115,074 2,215,828
Charge for year 34,840 55,946 861,300
Eliminated on disposal (1,051 ) - (218,888 )
At 31 January 2024 258,013 171,020 2,858,240
NET BOOK VALUE
At 31 January 2024 1,641,905 3,280,086 5,725,179
At 31 January 2023 1,682,624 1,778,736 4,585,820

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

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

11. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 5,240,958 6,661 15,849,925
Additions 2,379,585 - 6,271,690
Disposals (691,367 ) - (1,251,335 )
At 31 January 2024 6,929,176 6,661 20,870,280
DEPRECIATION
At 1 February 2023 1,618,715 6,659 4,180,500
Charge for year 995,312 - 1,947,398
Eliminated on disposal (372,253 ) - (592,192 )
At 31 January 2024 2,241,774 6,659 5,535,706
NET BOOK VALUE
At 31 January 2024 4,687,402 2 15,334,574
At 31 January 2023 3,622,243 2 11,669,425

The net book value of tangible fixed assets includes £9,471,732 (2023: £5,898,396) in respect of assets held under hire purchase agreements. The amount of depreciation in respect of such assets amounted to £1,434,779 (2023: £797,482) for the year.

12. STOCKS
31.1.24 31.1.23
£    £   
Stocks 566,837 547,144

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 1,740,870 1,564,262
Other debtors - 231,893
Directors' current accounts 256 256
Corporation tax - 226,171
Prepayments 85,416 27,236
1,826,542 2,049,818

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

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

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other loans (see note 16) 85,911 122,400
Hire purchase contracts (see note 17) 3,245,916 1,837,894
Trade creditors 1,563,116 1,166,624
Other taxes 233,156 76,088
VAT 145,359 235,974
Other creditors 590,682 15,977
Accrued expenses 83,907 80,430
5,948,047 3,535,387

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Other loans (see note 16) 577,649 1,197,423
Hire purchase contracts (see note 17) 3,687,021 3,150,722
4,264,670 4,348,145

16. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due within one year or on demand:
Other loans 85,911 122,400

Amounts falling due between one and two years:
Other loans - 1-2 years 77,000 77,000

Amounts falling due between two and five years:
Other loans - 2-5 years 97,667 147,667

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Other loans over five years
repayable other than by
instalments 402,982 972,756
402,982 972,756

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

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

17. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.1.24 31.1.23
£    £   
Net obligations repayable:
Within one year 3,245,916 1,837,894
Between one and five years 3,687,021 3,150,722
6,932,937 4,988,616

18. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Hire purchase contracts 6,932,937 4,988,616

The Royal Bank of Scotland plc hold a fixed charge over the company's assets and a floating charge over the company.

19. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 1,044,159 497,533

Deferred
tax
£   
Balance at 1 February 2023 497,533
Provided during year 546,626
Profit and loss
Balance at 31 January 2024 1,044,159

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
800,006 Ordinary £1 800,006 800,006

21. RESERVES
Retained
earnings
£   

At 1 February 2023 5,827,363
Deficit for the year (42,822 )
At 31 January 2024 5,784,541

JJC HIRE LIMITED (REGISTERED NUMBER: 06368224)

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

22. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
Mr M H Cronje
Balance outstanding at start of year 256 10,000
Amounts advanced 256 256
Amounts repaid (256 ) (10,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 256 256

The loan is interest free, unsecured and repayable on demand.

23. RELATED PARTY DISCLOSURES

Purchases were made during the year from related parties, including key management personnel, amounting to £50,806 (2023 - £60,091). Included in other creditors is an amount of £548,929 (2023 - £404,484) owed to related parties including key management personnel.

24. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr J Cooper and Mrs A Armer.