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2023-05-31
REGISTERED NUMBER: 10515582 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 May 2024

for

JUKES GROUP LIMITED

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)






Contents of the Consolidated Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 19


JUKES GROUP LIMITED

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mrs K A Jukes
Mr S Jukes





SECRETARY: Mrs K A Jukes





REGISTERED OFFICE: 26a Tamworth Street
Lichfield
Staffordshire
WS13 6JJ





REGISTERED NUMBER: 10515582 (England and Wales)





AUDITORS: Lawton Bradford Accountants Ltd
Chartered Certified Accountants and
Statutory Auditors
7 Marconi Gate
Stafford
Staffordshire
ST18 0FZ

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Group Strategic Report
for the Year Ended 31 May 2024

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

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

The group's business objective is to provide coffins and caskets to the funeral industry.

The supply issues alluded to in the previous report have stabilised to become the new normal alongside inflation returning to treasury target levels, and so it is to future developments that we now turn our attention. The main concern now is with the significant increase in payroll costs arising from the new government's maiden budget, which is widely acknowledged will drive a sustained rise in costs for all businesses, including our own, with the unavoidable consequences for inflation leading to rises in the cost of bought-in materials as well.

Demand for our products remains high despite the backdrop of a reduced national death rate, against which we have held our market share.

PRINCIPAL RISKS AND UNCERTAINTIES
The risks faced by the group are reviewed by the board and appropriate processes are put into place to monitor and mitigate them. In common with many businesses of this size, the business environment can be challenging, the market is highly competitive and as a result there is always pressure on prices. With the continued investment in first class products, general outward looking and dynamic management the directors consider the company and its subsidiaries well placed to take advantage of the market opportunities as they arise, hence mitigating this risk.

The directors recognise that the group, as with any other business, is subject to risk and uncertainties that are beyond its control. In this regard, the biggest concern now is with the significant increase in payroll costs arising from the new government's maiden budget, which is widely acknowledged will drive a sustained rise in costs for all businesses, including our own, with the unavoidable consequences for inflation leading to rises in the cost of bought-in materials as well.

It is the management's assessment that Brexit has still shown no discernible effect on the business.

FINANCIAL RISK MANAGEMENT
The groups operations expose it to a variety of financial risks that include the effect of credit risk and liquidity risk. The group has in place policies that seek to limit the adverse effects on the financial performance of the company by monitoring levels of liquidity and the related finance costs. The policies set by the board are implemented by the groups finance department.

CREDIT RISK
The group has implemented policies that require appropriate credit assessment on potential customers before sales are made. The amount of exposure to any individual counterparty is subject to review by the groups financial department.

LIQUIDITY RISK
The group actively maintains a mixture of cash balances and loan finance that is designed to ensure the group has sufficient available funds for operations and planned expansions. Invoice discounting is used by all trading companies as is a valuable source of cashflow. Interest rate fluctuations impact on our results however in the current and preceding year the group has benefited from a stable rate of interest borrowings.


JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Group Strategic Report
for the Year Ended 31 May 2024

FINANCIAL KEY PERFORMANCE INDICATORS
We consider our key performance indicators are those that communicate the financial performance and strength of the group as a whole and they are:-

Turnover
Gross margins
Group net assets
EBITDA

ON BEHALF OF THE BOARD:





Mr S Jukes - Director


12 December 2024

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Report of the Directors
for the Year Ended 31 May 2024

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

PRINCIPAL ACTIVITIES
The manufacture of wood and veneer sets, the manufacture of coffins and caskets and property rental.

DIVIDENDS
Dividends have been paid as follows:-

Share Type Date Value £

Ordinary A 05/04/2024 65,000
31/05/2024 80,000
Ordinary B 05/04/2024 65,000
31/05/2024 80,000

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

Mrs K A Jukes
Mr S Jukes

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Report of the Directors
for the Year Ended 31 May 2024


AUDITORS
The auditors, Lawton Bradford Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr S Jukes - Director


12 December 2024

Report of the Independent Auditors to the Members of
Jukes Group Limited

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

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 May 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
Jukes Group 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.

Report of the Independent Auditors to the Members of
Jukes Group Limited


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

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

- We obtain an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework;
- We obtain an understanding of the entity’s policies and procedures on compliance with laws and regulations, including documentation of any instances of non-compliance.
- Identify which laws and regulations are of significance in the context of the entity;
- We obtain an understanding of the entity’s risk assessment process, including the risk of fraud;
- We assess the susceptibility of the entity’s financial statements to material misstatement, including how fraud might occur;
- Identify and test unusual or unexpected journal entries;
- Use Data Analytics to review the client data for unusual trends/anomalies;
- Evaluate the assumptions and judgements used by management within significant accounting estimates and assess if these indicate evidence of management bias;
- Test significant transactions, in particular evaluate the business rationale for any which appear unusual or outside the company’s normal course of business;
- Review the financial statements and test the disclosures against supporting documentation;
- Communicate relevant matters (including those above) to all members of the audit team to ensure they understood the risks specific to the entity and the audit procedures planned to mitigate these.

In order to ascertain the above and relative to the specific risks identified, the procedures followed included:
Enquiry of management, those charged with governance and the entity’s solicitors around actual and potential litigation and claims;
Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;
Review of financial statement disclosures and test to supporting documentation to assess compliance with applicable laws and regulations.
Perform audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

Report of the Independent Auditors to the Members of
Jukes Group 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.




Adele Lawton (Senior Statutory Auditor)
for and on behalf of Lawton Bradford Accountants Ltd
Chartered Certified Accountants and
Statutory Auditors
7 Marconi Gate
Stafford
Staffordshire
ST18 0FZ

12 December 2024

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Consolidated
Income Statement
for the Year Ended 31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   

TURNOVER 3 16,037,185 16,120,288

Cost of sales 11,050,417 11,565,234
GROSS PROFIT 4,986,768 4,555,054

Distribution costs 486,020 445,368
Administrative expenses 3,401,766 2,695,231
3,887,786 3,140,599
1,098,982 1,414,455

Other operating income 21,000 35,820
OPERATING PROFIT 5 1,119,982 1,450,275

Interest receivable and similar income 6,145 5,982
1,126,127 1,456,257

Interest payable and similar expenses 6 198,662 135,007
PROFIT BEFORE TAXATION 927,465 1,321,250

Tax on profit 7 830,846 270,057
PROFIT FOR THE FINANCIAL YEAR 96,619 1,051,193
Profit attributable to:
Owners of the parent 94,409 1,043,794
Non-controlling interests 2,210 7,399
96,619 1,051,193

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Consolidated
Other Comprehensive Income
for the Year Ended 31 May 2024

31.5.24 31.5.23
Notes £    £   

PROFIT FOR THE YEAR 96,619 1,051,193


OTHER COMPREHENSIVE INCOME
Revaluation of property 2,499,001 -
Income tax relating to other comprehensive
income

-

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

2,499,001

-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,595,620

1,051,193

Total comprehensive income attributable to:
Owners of the parent 2,593,410 1,043,794
Non-controlling interests 2,210 7,399
2,595,620 1,051,193

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Consolidated Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 3,522 (719 )
Tangible assets 11 7,587,822 3,137,690
Investments 12 - -
Investment property 13 560,000 651,104
8,151,344 3,788,075

CURRENT ASSETS
Stocks 14 1,685,048 1,590,955
Debtors 15 2,880,326 3,048,189
Cash at bank and in hand 619,746 667,949
5,185,120 5,307,093
CREDITORS
Amounts falling due within one year 16 3,460,516 3,368,891
NET CURRENT ASSETS 1,724,604 1,938,202
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,875,948

5,726,277

CREDITORS
Amounts falling due after more than one
year

17

(2,501,595

)

(1,206,844

)

PROVISIONS FOR LIABILITIES 21 (782,612 ) (224,387 )
NET ASSETS 6,591,741 4,295,046

CAPITAL AND RESERVES
Called up share capital 22 372 372
Revaluation reserve 23 2,557,503 58,500
Fair value reserve 23 (372,555 ) (58,900 )
Retained earnings 23 4,340,472 4,167,595
SHAREHOLDERS' FUNDS 6,525,792 4,167,567

NON-CONTROLLING INTERESTS 24 65,949 127,479
TOTAL EQUITY 6,591,741 4,295,046

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2024 and were signed on its behalf by:





Mr S Jukes - Director


JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Company Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 98,276 124,461
Investments 12 2,781,278 2,767,278
Investment property 13 - -
2,879,554 2,891,739

CURRENT ASSETS
Debtors 15 791,064 609,266
Cash at bank 63,130 174,694
854,194 783,960
CREDITORS
Amounts falling due within one year 16 3,248,678 2,933,425
NET CURRENT LIABILITIES (2,394,484 ) (2,149,465 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

485,070

742,274

CREDITORS
Amounts falling due after more than one
year

17

(63,081

)

(80,501

)

PROVISIONS FOR LIABILITIES 21 (2,907 ) (8,070 )
NET ASSETS 419,082 653,703

CAPITAL AND RESERVES
Called up share capital 22 372 372
Retained earnings 23 418,710 653,331
SHAREHOLDERS' FUNDS 419,082 653,703

Company's profit for the financial year 55,379 666,658

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2024 and were signed on its behalf by:





Mr S A Jukes - Director


JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Consolidated Statement of Changes in Equity
for the Year Ended 31 May 2024

Called up
share Retained Revaluation
capital earnings reserve
£    £    £   
Balance at 1 June 2022 372 3,666,401 58,500

Changes in equity
Dividends - (542,600 ) -
Total comprehensive income - 1,043,794 -
Balance at 31 May 2023 372 4,167,595 58,500

Changes in equity
Purchase of Minority Interest - 63,740 -
Dividends - (298,925 ) -
Total comprehensive income - 408,062 2,499,003
372 4,340,472 2,557,503
Acquisition of non-controlling
interest

-

-

-
Balance at 31 May 2024 372 4,340,472 2,557,503
Fair
value Non-controlling Total
reserve Total interests equity
£    £    £    £   
Balance at 1 June 2022 (58,900 ) 3,666,373 120,080 3,786,453

Changes in equity
Dividends - (542,600 ) - (542,600 )
Total comprehensive income - 1,043,794 7,399 1,051,193
Balance at 31 May 2023 (58,900 ) 4,167,567 127,479 4,295,046

Changes in equity
Purchase of Minority Interest - 63,740 - 63,740
Dividends - (298,925 ) - (298,925 )
Total comprehensive income (313,655 ) 2,593,410 2,210 2,595,620
(372,555 ) 6,525,792 129,689 6,655,481
Acquisition of non-controlling
interest

-

-

(63,740

)

(63,740

)
Balance at 31 May 2024 (372,555 ) 6,525,792 65,949 6,591,741

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Company Statement of Changes in Equity
for the Year Ended 31 May 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 June 2022 372 506,673 507,045

Changes in equity
Dividends - (520,000 ) (520,000 )
Total comprehensive income - 666,658 666,658
Balance at 31 May 2023 372 653,331 653,703

Changes in equity
Dividends - (290,000 ) (290,000 )
Total comprehensive income - 55,379 55,379
Balance at 31 May 2024 372 418,710 419,082

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Consolidated Cash Flow Statement
for the Year Ended 31 May 2024

31.5.24 31.5.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,739,034 2,159,410
Interest paid (170,124 ) (118,269 )
Interest element of hire purchase payments
paid

(28,538

)

(16,738

)
Tax paid (260,402 ) (542,968 )
Net cash from operating activities 1,279,970 1,481,435

Cash flows from investing activities
Purchase of tangible fixed assets (2,502,148 ) (422,960 )
Purchase of investment property (222,549 ) (1,104 )
Sale of tangible fixed assets 428,109 102,294
Purchase of subsidiary shares (14,000 ) -
Interest received 6,145 5,982
Net cash from investing activities (2,304,443 ) (315,788 )

Cash flows from financing activities
New loans in year 2,639,000 -
Loan repayments in year (1,257,662 ) (145,820 )
Capital repayments in year (180,802 ) (112,399 )
Amount introduced by directors 395,612 472,799
Amount withdrawn by directors (397,918 ) (477,455 )
Minority Interest reduction 76,259 -
Equity dividends paid (298,925 ) (542,600 )
Net cash from financing activities 975,564 (805,475 )

(Decrease)/increase in cash and cash equivalents (48,909 ) 360,172
Cash and cash equivalents at beginning of
year

2

667,949

307,777

Cash and cash equivalents at end of year 2 619,040 667,949

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 May 2024

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

31.5.24 31.5.23
£    £   
Profit before taxation 927,465 1,321,250
Depreciation charges 307,738 343,225
Profit on disposal of fixed assets (5,230 ) (10,500 )
Loss on revaluation of fixed assets 313,653 -
Finance costs 198,662 135,007
Finance income (6,145 ) (5,982 )
1,736,143 1,783,000
(Increase)/decrease in stocks (94,093 ) 150,686
Decrease/(increase) in trade and other debtors 170,169 (325,448 )
(Decrease)/increase in trade and other creditors (73,185 ) 551,172
Cash generated from operations 1,739,034 2,159,410

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 May 2024
31.5.24 1.6.23
£    £   
Cash and cash equivalents 619,746 667,949
Bank overdrafts (706 ) -
619,040 667,949
Year ended 31 May 2023
31.5.23 1.6.22
£    £   
Cash and cash equivalents 667,949 307,777


JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 May 2024

3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.6.23 Cash flow changes At 31.5.24
£    £    £    £   
Net cash
Cash at bank
and in hand 667,949 (48,203 ) 619,746
Bank overdrafts - (706 ) (706 )
667,949 (48,909 ) 619,040
Debt
Finance leases (338,105 ) 180,802 - (403,402 )
Debts falling due
within 1 year (148,376 ) (136,425 ) - (284,801 )
Debts falling due
after 1 year (1,007,318 ) (1,244,914 ) - (2,252,232 )
(1,493,799 ) (1,200,537 ) - (2,940,435 )
Total (825,850 ) (1,249,446 ) - (2,321,395 )

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Jukes Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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


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 as modified by the revaluation of certain assets.

Basis of consolidation
In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus cost directly attributable to the business combination. The excess of the value of the business combination acquired over the cost of the assets is recognised as negative goodwill. Investments in subsidiaries are accounted for at cost less impairment.

The financial statements consolidate the accounts of Jukes Group Limited and all of its material subsidiary undertakings ("subsidiaries").

The company is exempt from the requirement to present its own profit and loss account under the provisions of Section 408 of the Companies Act 2006.

Significant judgements and estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. Management considers that certain accounting assumptions relating to taxation, investment valuation and provisions are its critical accounting policies.

Turnover
Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Goodwill
Negative goodwill, resulting in the net assets acquired exceeding purchase consideration on acquisition of a subsidiary is being amortised over its useful life on ten years.
The positive goodwill on a subsidiary aquisition on 25 June 2021 is also being amortised over its 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.

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 5% on cost and not provided
Short leasehold - Equally over the terms of the lease
Improvements to property - Equally over the terms of the lease and 5% on cost
Plant and machinery - 25% on cost, 20% on cost and 15% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost

Investment property
The Investment property is held to earn rentals, capital appreciation or both. The Investment property is initially measured at cost, including transaction costs. Subsequently the investment property whose fair value can be measured reliably without undue cost or effect on an on-going basis is measured at fair value. Gains and losses arising from changes in the fair value are included in profit or loss in the period in which they arise. Any unrealised profits or losses are subsequently transferred to the fair value reserve.

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost of finished goods and work in progress comprise direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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

Going concern and covid-19
Having emerged from the post Covid-19 era, we can report that when taken in aggregate across all sites and including group transactions, turnover was increased for the year with sales performance exceeding the previous year month on month for all but the month of December.

The supply issues alluded to in the previous annual report have eased, however raw material prices have not returned to pre-pandemic levels, and these have had to be absorbed by price increases to our customers.

As 2023 progresses we still see the pressures of inflation, along with energy costs, which have not reduced to any discernible degree. Demand for our products remains high.

It is the management's assessment that Brexit has still shown no discernible effect on the business.

On this basis, management continue to prepare these accounts on a going concern basis and deem this appropriate. The director does not consider that a material uncertainty about the going concern status currently exists. In making this assessment the director has considered the likely trading conditions for a period of twelve months from the date of the approval of these accounts.

3. TURNOVER

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

An analysis of turnover by geographical market is given below:

31.5.24 31.5.23
£    £   
United Kingdom 16,037,185 16,120,288
16,037,185 16,120,288

4. EMPLOYEES AND DIRECTORS
31.5.24 31.5.23
£    £   
Wages and salaries 4,555,563 4,040,511
Social security costs 366,181 335,180
Other pension costs 87,114 78,235
5,008,858 4,453,926

The average number of employees during the year was as follows:
31.5.24 31.5.23

Directors 2 2
Factory and administration 145 143
147 145

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

4. EMPLOYEES AND DIRECTORS - continued

31.5.24 31.5.23
£    £   
Directors' remuneration 363,797 171,080

Information regarding the highest paid director for the year ended 31 May 2024 is as follows:
31.5.24
£   
Emoluments etc 227,000

5. OPERATING PROFIT

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

31.5.24 31.5.23
£    £   
Other operating leases 12,504 9,316
Depreciation - owned assets 371,218 340,128
Depreciation - assets on hire purchase contracts 3,020 9,734
Profit on disposal of fixed assets (5,230 ) (10,500 )
Goodwill amortisation (66,500 ) (6,636 )
Auditors' remuneration 37,440 36,417

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.5.24 31.5.23
£    £   
Factoring interest 59,324 42,180
Bank loan interest 108,776 70,365
Other loan interest 2,024 5,724
Hire purchase 28,538 16,738
198,662 135,007

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.5.24 31.5.23
£    £   
Current tax:
UK corporation tax 272,621 278,873

Deferred tax 558,225 (8,816 )
Tax on profit 830,846 270,057

UK corporation tax has been charged at 25 % (2023 - 20 %).

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

7. TAXATION - continued

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:

31.5.24 31.5.23
£    £   
Profit before tax 927,465 1,321,250
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 20 %)

231,866

264,250

Effects of:
Expenses not deductible for tax purposes 106,266 2,970
Income not taxable for tax purposes (1,308 ) (2,100 )
Capital allowances in excess of depreciation (67,472 ) -
Depreciation in excess of capital allowances - 17,465
Utilisation of tax losses - (3,712 )
Deferred tax 558,225 (8,816 )
Tax losses carried forward 3,269 -
Total tax charge 830,846 270,057

Tax effects relating to effects of other comprehensive income

31.5.24
Gross Tax Net
£    £    £   
Revaluation of property 2,499,001 - 2,499,001

31.5.23
Gross Tax Net
£    £    £   
Revaluation of property

8. 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.


9. DIVIDENDS
31.5.24 31.5.23
£    £   
Ordinary A shares of £1 each
Interim 153,925 257,600
Ordinary B shares of £1 each
Interim 145,000 285,000
298,925 542,600

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 June 2023 (66,354 )
Additions (62,259 )
At 31 May 2024 (128,613 )
AMORTISATION
At 1 June 2023 (65,635 )
Amortisation for year (66,500 )
At 31 May 2024 (132,135 )
NET BOOK VALUE
At 31 May 2024 3,522
At 31 May 2023 (719 )

11. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold Short to
property leasehold property
£    £    £   
COST OR VALUATION
At 1 June 2023 1,953,551 6,191 261,893
Additions 2,286,108 - 30,476
Disposals (451,248 ) (6,191 ) (28,848 )
Revaluations 2,499,002 - -
At 31 May 2024 6,287,413 - 263,521
DEPRECIATION
At 1 June 2023 23,250 1,505 181,441
Charge for year 19,375 4,686 9,699
Eliminated on disposal (42,625 ) (6,191 ) (28,849 )
At 31 May 2024 - - 162,291
NET BOOK VALUE
At 31 May 2024 6,287,413 - 101,230
At 31 May 2023 1,930,301 4,686 80,452

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

11. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 June 2023 2,967,744 74,378 408,570 5,672,327
Additions 383,321 13,392 34,950 2,748,247
Disposals (187,420 ) (12,254 ) (22,650 ) (708,611 )
Revaluations - - - 2,499,002
At 31 May 2024 3,163,645 75,516 420,870 10,210,965
DEPRECIATION
At 1 June 2023 2,111,524 20,052 196,865 2,534,637
Charge for year 255,863 14,948 69,667 374,238
Eliminated on disposal (181,248 ) (8,699 ) (18,120 ) (285,732 )
At 31 May 2024 2,186,139 26,301 248,412 2,623,143
NET BOOK VALUE
At 31 May 2024 977,506 49,215 172,458 7,587,822
At 31 May 2023 856,220 54,326 211,705 3,137,690

Cost or valuation at 31 May 2024 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2022 58,500 - -
Valuation in 2024 2,499,002 - -
Cost 3,729,911 263,521 3,163,645
6,287,413 263,521 3,163,645

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Valuation in 2022 - - 58,500
Valuation in 2024 - - 2,499,002
Cost 75,516 420,870 7,653,463
75,516 420,870 10,210,965

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

11. TANGIBLE FIXED ASSETS - continued

Group

If freehold property had not been revalued it would have been included at the following historical cost:

31.5.24 31.5.23
£    £   
Cost 3,729,911 406,500
Aggregate depreciation 73,746 84,943

Freehold land was valued on an open market basis on 31 May 2023 by Sanderson Weatherall, Chartered Surveyors .

The freehold property was valued at market value by Sanderson Weatherall, Chartered Surveyors, on 5th April 2024 and S Jukes, the director, considers this value to be the appropriate value at 31 May 2024.
If the freehold property had not been revalued, it would have been included at £3,729,911 cost.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 June 2023 359,741 22,650 382,391
Disposals - (22,650 ) (22,650 )
At 31 May 2024 359,741 - 359,741
DEPRECIATION
At 1 June 2023 126,167 4,153 130,320
Charge for year - 3,020 3,020
Eliminated on disposal - (7,173 ) (7,173 )
At 31 May 2024 126,167 - 126,167
NET BOOK VALUE
At 31 May 2024 233,574 - 233,574
At 31 May 2023 233,574 18,497 252,071

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

11. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2023 26,311 151,950 178,261
Additions 12,267 - 12,267
Disposals (3,500 ) - (3,500 )
At 31 May 2024 35,078 151,950 187,028
DEPRECIATION
At 1 June 2023 3,077 50,723 53,800
Charge for year 4,562 30,390 34,952
At 31 May 2024 7,639 81,113 88,752
NET BOOK VALUE
At 31 May 2024 27,439 70,837 98,276
At 31 May 2023 23,234 101,227 124,461

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 June 2023 2,767,278
Additions 14,000
At 31 May 2024 2,781,278
NET BOOK VALUE
At 31 May 2024 2,781,278
At 31 May 2023 2,767,278

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

12. FIXED ASSET INVESTMENTS - continued

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

Subsidiaries

Jukes Properties Limited
Registered office: 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ
Nature of business: Property rental
%
Class of shares: holding
Ordinary 100.00
31.5.24 31.5.23
£    £   
Aggregate capital and reserves 2,414,478 628,715
(Loss)/profit for the year (771,738 ) 104,696

Midland Funeral Supplies Limited
Registered office: 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ
Nature of business: Coffin manufacture
%
Class of shares: holding
Ordinary 100.00
31.5.24 31.5.23
£    £   
Aggregate capital and reserves 378,173 399,558
Profit for the year 56,615 41,607

F E Harris Limited
Registered office: 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ
Nature of business: Coffin manufacture
%
Class of shares: holding
Ordinary 100.00
31.5.24 31.5.23
£    £   
Aggregate capital and reserves 908,063 774,640
Profit for the year 259,423 309,887

Brian Reid and Son Limited
Registered office: 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ
Nature of business: Coffin manufacture
%
Class of shares: holding
Ordinary 95.00
31.5.24 31.5.23
£    £   
Aggregate capital and reserves 1,255,499 1,131,201
Profit for the year 250,208 152,006

On 6 October 2023 Jukes Group Limited acquired a further 5% of Brian Reid and Son Limited

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

12. FIXED ASSET INVESTMENTS - continued

LT & R Vowles Limited
Registered office: 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ
Nature of business: Coffin manufacture
%
Class of shares: holding
Ordinary 100.00
31.5.24 31.5.23
£    £   
Aggregate capital and reserves 959,375 948,776
Profit for the year 136,599 146,508

Beverley Veneers Limited
Registered office: 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ
Nature of business: Manufacture of wood and veneers products
%
Class of shares: holding
Ordinary 100.00
31.5.24 31.5.23
£    £   
Aggregate capital and reserves 2,450,559 2,034,896
Profit for the year 621,663 641,677

DFS Caskets Limited
Registered office: New Dyke Industrial Development, Stapleton Road, Annan, Dumfriesshire, Scotland, DG12 6JP
Nature of business: Coffin manufacture
%
Class of shares: holding
Ordinary 100.00
31.5.24 31.5.23
£    £   
Aggregate capital and reserves 584,269 491,465
Profit/(loss) for the year 150,804 (1,082 )








JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 June 2023 651,104
Additions 222,549
Revaluations (313,653 )
At 31 May 2024 560,000
NET BOOK VALUE
At 31 May 2024 560,000
At 31 May 2023 651,104

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2020 (58,900 )
Valuation in 2024 (313,653 )
Cost 932,553
560,000

Jukes Properties Limited
The investment property was valued at open market value by Sanderson Weatherall, Chartered surveyors, on 5th April 2024 and S Jukes, the director, considers this value to be the appropriate value at 31 May 2024.
If the investment property had not been revalued, it would have been included at £932,553 cost.

14. STOCKS

Group
31.5.24 31.5.23
£    £   
Stocks 1,685,048 1,590,955

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.5.24 31.5.23 31.5.24 31.5.23
£    £    £    £   
Trade debtors 2,247,762 2,622,604 - -
Amounts owed by group undertakings - - 574,660 456,679
Other debtors 276,941 82,192 78,015 17,736
Directors' current accounts 205,445 203,139 99,833 97,527
Tax 58,903 58,903 32,500 32,500
Prepayments and accrued income 6,169 - - -
Prepayments 85,106 81,351 6,056 4,824
2,880,326 3,048,189 791,064 609,266

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.5.24 31.5.23 31.5.24 31.5.23
£    £    £    £   
Bank loans and overdrafts (see note 18) 285,507 148,376 - -
Hire purchase contracts (see note 19) 154,039 138,579 17,420 23,320
Invoice finance 716,520 656,655 - -
Trade creditors 1,171,147 1,138,810 2,996 599
Amounts owed to group undertakings - - 3,157,903 2,846,541
Tax 204,552 192,333 - -
Social security and other taxes 99,662 105,132 20,156 21,737
Net wages 716 4,817 - -
Pension control - 248 - -
VAT 430,974 351,766 6,866 4,913
Other creditors 160,859 416,395 2,581 1,911
Accruals and deferred income 21,305 20,610 - -
Accrued expenses 215,235 195,170 40,756 34,404
3,460,516 3,368,891 3,248,678 2,933,425

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

Group Company
31.5.24 31.5.23 31.5.24 31.5.23
£    £    £    £   
Bank loans (see note 18) 2,252,232 1,007,318 - -
Hire purchase contracts (see note 19) 249,363 199,526 63,081 80,501
2,501,595 1,206,844 63,081 80,501

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

18. LOANS

An analysis of the maturity of loans is given below:

Group
31.5.24 31.5.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 706 -
Bank loans 284,801 148,376
285,507 148,376
Amounts falling due between one and two years:
Bank loans - 1-2 years 2,240,565 630,225
Amounts falling due between two and five years:
Bank loans - 2-5 years 11,667 124,593
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal - 252,500

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 154,039 138,579
Between one and five years 249,363 199,526
403,402 338,105

Company
Hire purchase contracts
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 17,420 23,320
Between one and five years 63,081 80,501
80,501 103,821

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

19. LEASING AGREEMENTS - continued

Group
Non-cancellable operating leases
31.5.24 31.5.23
£    £   
Within one year 127,708 23,320
Between one and five years 178,596 80,501
306,304 103,821

20. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
31.5.24 31.5.23 31.5.24 31.5.23
£    £    £    £   
Bank overdraft 706 - - -
Bank loans 2,537,033 1,155,694 - -
Hire purchase contracts 403,402 338,105 80,501 103,821
Invoice financing 796,420 648,867 - -
3,737,561 2,142,666 80,501 103,821

The hire purchase liabilities are secured over the assets to which they relate.

The invoice discounting loans are secured by way of a charge over the related trade debtors.

The bank loans are secured by way of charges over real estate lying to the North of Elwell Street, West Bromwich; 26 Tamworth Street, Lichfield; real estate on the North side of Grovehill Road, Beverley; land lying to the south of The Lindens, Upton-Upon-Severn; unit 15 Barn Close, Plymouth and an unlimited debenture dated 5 December 2014.

21. PROVISIONS FOR LIABILITIES

Group Company
31.5.24 31.5.23 31.5.24 31.5.23
£    £    £    £   
Deferred tax 782,612 224,387 2,907 8,070

Group
Deferred
tax
£   
Balance at 1 June 2023 224,387
Provided during year 558,225
Balance at 31 May 2024 782,612

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

21. PROVISIONS FOR LIABILITIES - continued

Company
Deferred
tax
£   
Balance at 1 June 2023 8,070
Credit to Income Statement during year (5,163 )
Balance at 31 May 2024 2,907

22. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
223 Ordinary A £1 223 223
56 Ordinary B £1 149 149
372 372

23. RESERVES

Group
Fair
Retained Revaluation value
earnings reserve reserve Totals
£    £    £    £   

At 1 June 2023 4,167,595 58,500 (58,900 ) 4,167,195
Profit for the year 94,409 94,409
Dividends (298,925 ) (298,925 )
Transfer revaluation 313,653 - - 313,653
Revaluations - 2,499,003 (313,655 ) 2,185,348
SoCIE line item with acc967/32 63,740 - - 63,740
At 31 May 2024 4,340,472 2,557,503 (372,555 ) 6,525,420

Company
Retained
earnings
£   

At 1 June 2023 653,331
Profit for the year 55,379
Dividends (290,000 )
At 31 May 2024 418,710


24. NON-CONTROLLING INTERESTS

Minority interests were 10% shareholding in Brian Reid & Son Limited until 5th October 2023 and then 5% shareholding thereafter.

JUKES GROUP LIMITED (REGISTERED NUMBER: 10515582)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2024

25. CAPITAL COMMITMENTS
31.5.24 31.5.23
£    £   
Contracted but not provided for in the
financial statements 459,761 144,614

26. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the end of the period the directors owed the group £205,445 (2023 - £203,140). The loan was repayable on demand and at a standard rate of interest.

27. RELATED PARTY DISCLOSURES

Jukes Properties Limited
The investment property is rented to a company owned and controlled by an individual connected with the directors, at below market value. Market value is estimated to be in the region of £32,000 per annum and the company has agreed a rental of £15,000.

At the year end, the company owed £953,458 (2023 - £843,458) to Brian Reid and Son Limited, a subsidiary undertaking. The amount is unsecured and represents a trading balance that is due on demand. In the year, the company made sales of £10,000 (2023 - £10,000) to Brian Reid and Son Limited.

28. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S Jukes.