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REGISTERED NUMBER: 08898596 (England and Wales)











GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

JSB COMPANIES LIMITED

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 18


JSB COMPANIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: R J Sheppard



REGISTERED OFFICE: Brooks House
1 Albion Place
Maidstone
Kent
ME14 5DY



REGISTERED NUMBER: 08898596 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Gary Sargeant



AUDITORS: Sargeant Partnership LLP
Chartered Accountants
and Statutory Auditors
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The director presents his strategic report of the company and the group for the year ended 30 June 2024.

The group continued its principal activity as wholesale and catering butchers.

REVIEW OF BUSINESS
Since the resumption of business following the Covid pandemic results have proved encouraging and the Group has traded profitably in the year under review.

COVID FINANCIAL SUPPORT
The Group is funding repayment of its CBILS Loans and other support from the Group's financiers. The trading recovery is believed sustainable and adequate to meet these commitments.

PRINCIPAL RISKS AND UNCERTAINTIES
Currently the UK and World economies conspire to affect trading conditions whether in regard to the pricing or availability of product, and overhead costs generally:
- Increases in raw material costs
- Weakness of Sterling
- Supply chains
- Wage and overhead inflationary pressures.

Where possible these main risks are being addressed on a daily basis by placing emphasis on UK product, together with operating to shorter term pricing agreements.
With the support of staff both at production and administrative levels it is hoped to contain the effects of adverse cost increases.

ON BEHALF OF THE BOARD:





R J Sheppard - Director


25 February 2025

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 JUNE 2024

The director presents his report with the financial statements of the company and the group for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the group continued to be that of wholesale and catering butchers.

DIVIDENDS
Ordinary dividends were paid amounting to £160,000. The director does not recommend payment of a further dividend.

DIRECTOR
R J Sheppard held office during the whole of the period from 1 July 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 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 director is 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 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 group's auditors are aware of that information.

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 JUNE 2024


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

ON BEHALF OF THE BOARD:



R J Sheppard - Director


25 February 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JSB COMPANIES LIMITED

Opinion
We have audited the financial statements of JSB Companies Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 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 30 June 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 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 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 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 Group 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JSB COMPANIES LIMITED


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 Director 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 Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the 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 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 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 Statement of Director's Responsibilities set out on page three, 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 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JSB COMPANIES 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:

During the audit we identify and assess the risk of material misstatements of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud and error; and to respond appropriately to those risks.

In identifying and assessing risks of material misstatement in respect of irregularities including, fraud and non-compliance with laws and regulations, our procedures included the following:

- We obtained an understanding of the legal and regulatory frameworks applicable to the company and the sector in which they operate. We determined that the following laws and regulations were most significant: the Companies Act 2006, FRS 102, UK corporate taxation laws and the Data Protection Act.

- We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making inquiries to the management and directors of known or suspected instances of fraud and non-compliance with laws and regulations. These enquiries are corroborated through follow up audit procedures including but not limited to a review of legal and professional costs and correspondence.

-We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the audit engagement team included:

a) Identifying the controls management has put in place to prevent and detect fraud;

b) Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

c) Challenging assumptions and judgements made by management in its significant accounting estimates; and

d) We designed our audit procedures to respond to the assessment of the risk of fraud through management override of controls. This includes the identification and testing of related party transactions and the testing of journal transactions that arise from management estimates, that are determined to be of significant value or unusual in their nature and a review of profit margins.

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
JSB COMPANIES 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.




Gary Sargeant (Senior Statutory Auditor)
for and on behalf of Sargeant Partnership LLP
Chartered Accountants
and Statutory Auditors
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

25 February 2025

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £    £    £   

TURNOVER 19,201,592 18,209,267

Cost of sales 15,507,450 14,866,040
GROSS PROFIT 3,694,142 3,343,227

Distribution costs 1,300,012 1,276,301
Administrative expenses 1,190,561 1,586,121
2,490,573 2,862,422
1,203,569 480,805

Other operating income 4,500 -
OPERATING PROFIT 4 1,208,069 480,805

Interest receivable and similar income - 605
1,208,069 481,410

Interest payable and similar expenses 6 375,153 270,173
PROFIT BEFORE TAXATION 832,916 211,237

Tax on profit 7 79,460 106,585
PROFIT FOR THE FINANCIAL
YEAR

753,456

104,652
Profit attributable to:
Owners of the parent 753,456 104,652

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 753,456 104,652


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR

753,456

104,652

Total comprehensive income attributable to:
Owners of the parent 753,456 104,652

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

CONSOLIDATED BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 2,942,211 2,443,222
Investments 11 - -
Investment property 12 1,656,066 1,656,066
4,598,277 4,099,288

CURRENT ASSETS
Stocks 13 559,470 415,539
Debtors 14 4,561,057 3,546,421
Cash at bank and in hand 435,282 749,407
5,555,809 4,711,367
CREDITORS
Amounts falling due within one year 15 6,384,040 5,340,450
NET CURRENT LIABILITIES (828,231 ) (629,083 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,770,046

3,470,205

CREDITORS
Amounts falling due after more than one
year

16

(2,116,237

)

(2,403,206

)

PROVISIONS FOR LIABILITIES 20 (201,158 ) (207,804 )
NET ASSETS 1,452,651 859,195

CAPITAL AND RESERVES
Called up share capital 21 15,002 15,002
Non Distributable retained
Earnings bfwd 22 124,500 124,500
Retained earnings 22 1,313,149 719,693
SHAREHOLDERS' FUNDS 1,452,651 859,195

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:




R J Sheppard - Director


JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

COMPANY BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 - -
Investments 11 15,002 15,002
Investment property 12 - -
15,002 15,002

CURRENT ASSETS
Debtors 14 5,000 5,000
NET CURRENT ASSETS 5,000 5,000
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,002

20,002

CREDITORS
Amounts falling due after more than one
year

16

5,000

5,000
NET ASSETS 15,002 15,002

CAPITAL AND RESERVES
Called up share capital 21 15,002 15,002
SHAREHOLDERS' FUNDS 15,002 15,002

Company's profit for the financial year 160,000 160,000

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:





R J Sheppard - Director


JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Non
Distributable
Called up retained
share Retained Earnings Total
capital earnings bfwd equity
£    £    £    £   
Balance at 1 July 2022 15,002 775,041 124,500 914,543

Changes in equity
Dividends - (160,000 ) - (160,000 )
Total comprehensive income - 104,652 - 104,652
Balance at 30 June 2023 15,002 719,693 124,500 859,195

Changes in equity
Dividends - (160,000 ) - (160,000 )
Total comprehensive income - 753,456 - 753,456
Balance at 30 June 2024 15,002 1,313,149 124,500 1,452,651

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 15,002 - 15,002

Changes in equity
Dividends - (160,000 ) (160,000 )
Total comprehensive income - 160,000 160,000
Balance at 30 June 2023 15,002 - 15,002

Changes in equity
Dividends - (160,000 ) (160,000 )
Total comprehensive income - 160,000 160,000
Balance at 30 June 2024 15,002 - 15,002

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,162,300 1,319,721
Interest paid (375,153 ) (270,173 )
Exceptional item (354,347 ) -
Tax paid (43,097 ) (43,060 )
Net cash from operating activities 389,703 1,006,488

Cash flows from investing activities
Purchase of tangible fixed assets (200,958 ) (349,439 )
Purchase of investment property - (1,181,066 )
Sale of fixed asset investments - 257,057
Interest received - 605
Net cash from investing activities (200,958 ) (1,272,843 )

Cash flows from financing activities
New loans in year - 416,285
Loan repayments in year (284,969 ) -
Amount introduced by directors - 47,349
Amount withdrawn by directors (57,901 ) 61,619
Equity dividends paid (160,000 ) (160,000 )
Net cash from financing activities (502,870 ) 365,253

(Decrease)/increase in cash and cash equivalents (314,125 ) 98,898
Cash and cash equivalents at
beginning of year

2

749,407

650,509

Cash and cash equivalents at end of
year

2

435,282

749,407

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

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

2024 2023
£    £   
Profit before taxation 832,916 211,237
Depreciation charges 56,316 114,491
Loss on disposal of fixed assets - 1,877
Finance costs 375,153 270,173
Finance income - (605 )
1,264,385 597,173
(Increase)/decrease in stocks (143,931 ) 208,810
(Increase)/decrease in trade and other debtors (1,014,636 ) 164,609
Increase in trade and other creditors 1,056,482 349,129
Cash generated from operations 1,162,300 1,319,721

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 30 June 2024
30/6/24 1/7/23
£    £   
Cash and cash equivalents 435,282 749,407
Year ended 30 June 2023
30/6/23 1/7/22
£    £   
Cash and cash equivalents 749,407 650,509


JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1/7/23 Cash flow At 30/6/24
£    £    £   
Net cash
Cash at bank and in hand 749,407 (314,125 ) 435,282
749,407 (314,125 ) 435,282
Debt
Debts falling due within 1 year (316,773 ) (2,000 ) (318,773 )
Debts falling due after 1 year (2,403,206 ) 286,969 (2,116,237 )
(2,719,979 ) 284,969 (2,435,010 )
Total (1,970,572 ) (29,156 ) (1,999,728 )

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

JSB Companies 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.

The financial statements are prepared in sterling, which is the functional currency of the group.

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 costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

The consolidated financial statements incorporate those of JSB Companies Limited and all of its subsidiaries \ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

All financial statements are made up to 30 June 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Critical accounting judgements and key sources of estimation uncertainty
In the application of the companies accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities in these accounts.

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the customer. This will be upon despatch of the goods as it is at this point that the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - not provided
Improvements to property - 2% per annum on cost
Plant and machinery - 10% per annum on cost
Fixtures and fittings - 10% per annum on cost
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit and loss. Reversals of impairment losses are also recognised in the profit and loss.


JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the 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.

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

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Employee benefits
Short term employee benefits, including holiday entitlement and other non-monetary benefits, and contributions to personal pension schemes are recognised as an expense in the period in which they are incurred.

Short term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short-term deposits with an original maturity date of three months or less.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,550,899 2,490,380
Social security costs 213,987 213,624
Other pension costs 115,073 117,747
2,879,959 2,821,751

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

Production staff 58 61
Distribution staff 21 23
Administrative staff 21 22
Other staff 6 4
106 110

The average number of employees by undertakings that were proportionately consolidated during the year was 106 (2023 - 110 ) .

2024 2023
£    £   
Director's remuneration - -

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 20,461 10,119
Depreciation - owned assets 56,316 114,491
Loss on disposal of fixed assets - 1,877
Auditors' remuneration 35,000 22,000

5. EXCEPTIONAL ITEMS
2024 2023
£    £   
Exceptional items 354,347 -

The exceptional item is the write back of depreciation on the property to include the value at its historic financial cost.

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 138,373 83,133
Interest payable 236,780 187,040
375,153 270,173

7. 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 78,336 35,328
Prior period corporation tax 7,770 -
Total current tax 86,106 35,328

Deferred tax (6,646 ) 71,257
Tax on profit 79,460 106,585

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. TAXATION - continued

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

2024 2023
£    £   
Profit before tax 832,916 211,237
Profit multiplied by the standard rate of corporation tax in the UK
of 25 % (2023 - 20.496 %)

208,229

43,295

Effects of:
Expenses not deductible for tax purposes 32,827 73,618
Income not taxable for tax purposes (37,280 ) -
Capital allowances in excess of depreciation (126,851 ) (9,359 )
Adjustments to tax charge in respect of previous periods 8,083 -
Change in tax rates - (145 )
Tax Losses (5,548 ) (824 )
Total tax charge 79,460 106,585

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
2024 2023
£    £   
Interim 160,000 160,000

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. TANGIBLE FIXED ASSETS

Group
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 July 2023 1,776,542 1,444,683 562,345
Additions - - 56,538
Reclassification/transfer 1,444,683 (1,444,683 ) -
At 30 June 2024 3,221,225 - 618,883
DEPRECIATION
At 1 July 2023 787,000 75,906 539,886
Charge for year - - 33,701
Charge written back (278,441 ) (75,906 ) -
At 30 June 2024 508,559 - 573,587
NET BOOK VALUE
At 30 June 2024 2,712,666 - 45,296
At 30 June 2023 989,542 1,368,777 22,459

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2023 184,759 37,150 4,005,479
Additions - 144,420 200,958
Reclassification/transfer - - -
At 30 June 2024 184,759 181,570 4,206,437
DEPRECIATION
At 1 July 2023 137,502 21,963 1,562,257
Charge for year 12,801 9,814 56,316
Charge written back - - (354,347 )
At 30 June 2024 150,303 31,777 1,264,226
NET BOOK VALUE
At 30 June 2024 34,456 149,793 2,942,211
At 30 June 2023 47,257 15,187 2,443,222

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 15,002
NET BOOK VALUE
At 30 June 2024 15,002
At 30 June 2023 15,002


Details of the company's subsidiaries at 30 June 2024 are as follows:



Name of undertaking


Address

Class of
shares held
% Held
Direct
Indirect
Bristolian Properties Limited See below Ordinary 100
John Sheppard Butchers Limited See below Ordinary 100
John Sheppard Direct Limited See below Ordinary 100

Registered office addresses (all UK unless otherwise indicated):
All Unit 5, 6 & 7, Ashley Parade, Bristol, BS2 9XS

12. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 1,656,066
NET BOOK VALUE
At 30 June 2024 1,656,066
At 30 June 2023 1,656,066

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

12. INVESTMENT PROPERTY - continued

Group

The Investment Property comprises of 232 Cheltenham Road, Bristol, BS6 5QU and Towan Meadow, Padstow, PL28 8PJ.

The fair value of the investment property 232 Cheltenham Road and Towan Meadow property have been arrived at on the basis of a valuation carried out by the directors as at 30 June 2024. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The director confirms the investment properties values are reasonable and a revaluation is not considered necessary.

13. STOCKS

Group
2024 2023
£    £   
Stocks 559,470 415,539

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 4,214,282 3,173,072 - -
Other debtors 201,192 198,991 5,000 5,000
VAT 36,242 32,110 - -
Prepayments 109,341 142,248 - -
4,561,057 3,546,421 5,000 5,000

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Bank loans and overdrafts (see note 17) 318,773 316,773
Trade creditors 2,042,700 1,904,309
Tax 78,337 35,328
Social security and other taxes 79,339 55,683
Other creditors 2,943,656 2,534,164
Directors' loan accounts 3,718 61,619
Accruals and deferred income 917,517 432,574
6,384,040 5,340,450

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

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

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 17) 2,116,237 2,403,206 - -
Amounts owed to group undertakings - - 5,000 5,000
2,116,237 2,403,206 5,000 5,000

17. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 318,773 316,773
Amounts falling due between one and two years:
Bank loans - 1-2 years 2,062,904 2,093,206
Amounts falling due between two and five years:
Bank loans - 2-5 years 53,333 310,000

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 323,034 326,312
Between one and five years 86,878 214,784
In more than five years 683 -
410,595 541,096

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

19. SECURED DEBTS

Bristolian Properties:
HSBC Bank PLC holds a floating charge with a negative pledge on all the assets, property or undertaking of the company. Units 5, 6 & 7 Ashley Trading Estate contains a negative pledge.

John Sheppard Butchers Limited:
HSBC Bank PLC has a legal mortgage, legal assignment and chattel mortgage on all monies due or to become due from the company to the charge on any account whatsoever. They also hold a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery of the company.

HSBC Invoice Finance (UK) Limited holds a floating charge with a negative pledge on all the property or undertaking of the company. They also hold a fixed charge on purchased debts which fail to vest and the amount is secured on all monies due or to become due from the company to the chargee under the terms of the aforementioned instrument creating or evidencing the charge.

Midlands Bank PLC holds a fixed and floating charge on all monies due or to become due from the company to the chargee on any account whatsoever.

20. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 201,158 207,804

Group
Deferred
tax
£   
Balance at 1 July 2023 207,804
Utilised during year (6,646 )
Provided during the year
Balance at 30 June 2024 201,158

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
15,002 Ordinary £1 15,002 15,002

JSB COMPANIES LIMITED (REGISTERED NUMBER: 08898596)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

22. RESERVES

Group
Non
Distributable
retained
Retained Earnings
earnings bfwd Totals
£    £    £   

At 1 July 2023 719,693 124,500 844,193
Profit for the year 753,456 753,456
Dividends (160,000 ) (160,000 )
At 30 June 2024 1,313,149 124,500 1,437,649

Company
Retained
earnings
£   

Profit for the year 160,000
Dividends (160,000 )
At 30 June 2024 -


23. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the Balance sheet date the group owed Mr R Sheppard £3,718 (2023: £61,619).

24. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

A dividend of £160,000 was paid to the shareholders during the year.

Other than the directors there are no other members of key management. Directors' remuneration is reported in note 3.

25. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Richard Sheppard by virtue of his shareholding.