Company Registration No. 13408080 (England and Wales)
JT BARTON GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024
31 May 2024
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
JT BARTON GROUP LIMITED
COMPANY INFORMATION
Directors
Mr J T Barton
Mr C T Barton
Mr G J Barton
Company number
13408080
Registered office
Potters Farm
Bryn Road
Ashton-In-Makerfield
Wigan
England
WN4 8AH
Auditor
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
JT BARTON GROUP LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 7
Group statement of comprehensive income
8
Group balance sheet
9
Company balance sheet
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 27
JT BARTON GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 1 -

The directors present the strategic report for the year ended 31 May 2024.

Results, dividends and future developments

At the year end, shareholders' funds amounted to £6,241,276 (2023 - £6,057,298). The directors believe the company's position to be financially robust particularly given that current assets exceed current liabilities to the extent of £4,247,456 (2023 - £4,756,718).

Dividends of £509,581 have been paid during the period (2023: £1,363,500).

Principal risks and uncertainties

The company makes little use of financial instruments other than an operational bank account and the use of finance leases; its exposure to price risk, credit risk and liquidity risk is not material for the assessment of the financial position and profit of the company. Performance in the sector is affected by general economic conditions and activity in the alcoholic drinks wholesale market. The board carries out regular reviews including assessments of competitor activity and behaviour.

Bartons is in a robust financial position with substantial cash reserves. This strong liquidity enables the company to capitalise on potential future acquisitions and investment opportunities, positioning Bartons for continued growth and expansion in the market

Key performance indicators

In the future the Key Performance Indicator's will be turnover, gross profit and EBITDA, as other group companies.

Other performance indicators

The directors have chose to analyse the turnover, gross profit and EBITDA both expressed as a percentage of turnover for the understanding of the performance of the business.

 

2024

2023

Turnover

 

£51,309,432

£44,085,621

Gross Profit

 

8.90%

8.82%

EBITDA

 

£1,096,675

£1,316,272

EBITDA %

 

2.14%

2.99%

 

 

On behalf of the board

Mr C T Barton
Director
25 February 2025
JT BARTON GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 May 2024.

Principal activities

The principal activity of the company and group is that of the wholesale and retail of beer, wines and spirits.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £509,581. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J T Barton
Mr C T Barton
Mr G J Barton
Auditor

The auditor, PM+M Solutions for Business LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

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

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

JT BARTON GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr C T Barton
Director
25 February 2025
JT BARTON GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JT BARTON GROUP LIMITED
- 4 -
Opinion

We have audited the financial statements of JT Barton Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 May 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

JT BARTON GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF JT BARTON GROUP LIMITED
- 5 -
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 their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 is 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 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 parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

 

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

 

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

JT BARTON GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF JT BARTON GROUP LIMITED
- 6 -

Identifying and assessing potential risks related to irregularities

 

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered the following:

 

 

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: timing of recognition of commercial income, posting of unusual journals and complex transactions; and manipulating the Group's performance profit measures and other key performance indicators to meet remuneration targets and externally communicated targets. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

 

We also obtained an understanding of the legal and regulatory frameworks that the Group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, employment law, health and safety regulations, pensions legislation and tax legislation.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

JT BARTON GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF JT BARTON GROUP LIMITED
- 7 -

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Johnson FCA (Senior Statutory Auditor)
For and on behalf of PM+M Solutions for Business LLP, Statutory Auditor
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
25 February 2025
JT BARTON GROUP LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
51,309,432
44,085,621
Cost of sales
(46,743,916)
(40,196,921)
Gross profit
4,565,516
3,888,700
Administrative expenses
(3,681,224)
(2,820,421)
Other operating income
52,343
115,501
Operating profit
4
936,635
1,183,780
Interest receivable and similar income
9
2,642
19,767
Interest payable and similar expenses
8
(3,553)
(1,027)
Profit before taxation
935,724
1,202,520
Tax on profit
10
(242,165)
(245,279)
Profit for the financial year
693,559
957,241
Total comprehensive income for the year is all attributable to the owners of the parent company.
JT BARTON GROUP LIMITED
GROUP BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
14
1,324,506
644,640
Investment property
12
785,371
785,371
Investments
13
7,960
7,960
2,117,837
1,437,971
Current assets
Stocks
16
2,735,574
2,694,207
Debtors
17
5,742,155
5,177,047
Cash at bank and in hand
2,196,851
1,818,597
10,674,580
9,689,851
Creditors: amounts falling due within one year
18
(6,427,124)
(4,933,133)
Net current assets
4,247,456
4,756,718
Total assets less current liabilities
6,365,293
6,194,689
Creditors: amounts falling due after more than one year
19
(15,135)
(25,003)
Provisions for liabilities
Deferred tax liability
21
108,882
112,388
(108,882)
(112,388)
Net assets
6,241,276
6,057,298
Capital and reserves
Called up share capital
23
2,509,104
2,509,104
Profit and loss reserves
3,732,172
3,548,194
Total equity
6,241,276
6,057,298

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 25 February 2025 and are signed on its behalf by:
25 February 2025
Mr C T Barton
Director
Company registration number 13408080 (England and Wales)
JT BARTON GROUP LIMITED
COMPANY BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
14
56,414
57,589
Investments
13
2,599,235
2,599,104
2,655,649
2,656,693
Current assets
Debtors
17
261,236
71,750
Creditors: amounts falling due within one year
18
(400,131)
(210,514)
Net current liabilities
(138,895)
(138,764)
Net assets
2,516,754
2,517,929
Capital and reserves
Called up share capital
23
2,509,104
2,509,104
Profit and loss reserves
7,650
8,825
Total equity
2,516,754
2,517,929

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £508,406 (2023 - £1,372,325 profit).

The financial statements were approved by the board of directors and authorised for issue on 25 February 2025 and are signed on its behalf by:
25 February 2025
Mr C T Barton
Director
Company registration number 13408080 (England and Wales)
JT BARTON GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 11 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2022
2,509,104
3,954,453
6,463,557
Year ended 31 May 2023:
Profit and total comprehensive income
-
957,241
957,241
Dividends
11
-
(1,363,500)
(1,363,500)
Balance at 31 May 2023
2,509,104
3,548,194
6,057,298
Year ended 31 May 2024:
Profit and total comprehensive income
-
693,559
693,559
Dividends
11
-
(509,581)
(509,581)
Balance at 31 May 2024
2,509,104
3,732,172
6,241,276
JT BARTON GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2022
2,509,104
-
0
2,509,104
Year ended 31 May 2023:
Profit and total comprehensive income for the year
-
1,372,325
1,372,325
Dividends
11
-
(1,363,500)
(1,363,500)
Balance at 31 May 2023
2,509,104
8,825
2,517,929
Year ended 31 May 2024:
Profit and total comprehensive income
-
508,406
508,406
Dividends
11
-
(509,581)
(509,581)
Balance at 31 May 2024
2,509,104
7,650
2,516,754
JT BARTON GROUP LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2024
- 13 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
24
958,339
1,650,113
Interest paid
(3,553)
(1,027)
Income taxes paid
(217,513)
(618,205)
Net cash inflow from operating activities
737,273
1,030,881
Investing activities
Purchase of tangible fixed assets
(839,906)
(150,746)
Proceeds from disposal of tangible fixed assets
-
17,750
Loans made to other entities
-
(817,553)
Repayment of loans
492,404
223,824
Interest received
2,642
19,767
Net cash used in investing activities
(344,860)
(706,958)
Financing activities
Repayment of bank loans
(9,868)
(10,508)
Net cash used in financing activities
(9,868)
(10,508)
Net increase in cash and cash equivalents
382,545
313,415
Cash and cash equivalents at beginning of year
1,814,306
1,500,891
Cash and cash equivalents at end of year
2,196,851
1,814,306
Relating to:
Cash at bank and in hand
2,196,851
1,818,597
Bank overdrafts included in creditors payable within one year
-
(4,291)
JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 14 -
1
Accounting policies
Company information

JT Barton Group Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Potters Farm, Bryn Road , Ashton-In-Makerfield, Wigan, WN4 8AH.

 

The group consists of JT Barton Group Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

 

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

1.2
Business combinations

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.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company JT Barton Group Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 May 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.

JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 15 -
1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Turnover

Turnover from the sale of beers, spirits, etc represents amounts receivable for goods and services net of VAT and trade discounts.

 

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, 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.

 

Rental and other income is included in the period to which it relates.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% on cost
Fixtures and fittings
10% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price.

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 or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 16 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

1.10
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 17 -
1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s 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.

 

The main areas of judgement that have a risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year, are in relation to stock and debtor provisions and the valuation of investment property.

 

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Wholesale of beers, wines, spirits and other beverages
51,309,432
44,085,621
2024
2023
£
£
Other revenue
Interest income
2,642
19,767

All turnover arose from the principal activity of the group within the UK.

4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
160,040
132,492
Profit on disposal of tangible fixed assets
-
0
(7,919)
JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 18 -
5
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Directors
9
7
3
3
Staff
48
47
-
-
Total
57
54
3
3

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
2,041,855
1,738,980
-
0
-
0
Social security costs
208,493
176,353
-
0
-
0
Pension costs
315,865
25,714
-
0
-
0
2,566,213
1,941,047
-
0
-
0
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
470,525
520,936
Company pension contributions to defined contribution schemes
288,215
2,697
758,740
523,633
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
81,590
133,700
Company pension contributions to defined contribution schemes
2,901
2,697
JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 19 -
7
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
6,150
6,000
Audit of the financial statements of the company's subsidiaries
26,100
20,000
32,250
26,000
8
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
771
1,027
Other interest
2,782
-
Total finance costs
3,553
1,027
9
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
2,642
40,832
Other interest income
-
(21,065)
Total income
2,642
19,767
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
250,109
248,556
Adjustments in respect of prior periods
(4,438)
-
0
Total current tax
245,671
248,556
Deferred tax
Origination and reversal of timing differences
(3,506)
(3,277)
Total tax charge
242,165
245,279

From the 1 April 2023 the effective tax rate is 25%.

JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
10
Taxation
(Continued)
- 20 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
935,724
1,202,520
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 20.00%)
233,931
240,504
Tax effect of expenses that are not deductible in determining taxable profit
2,836
7,324
Tax effect of income not taxable in determining taxable profit
-
0
(555)
Adjustments in respect of prior years
(4,438)
-
0
Depreciation on assets not qualifying for tax allowances
7,176
(1,342)
Remeasurment of deferred tax for change in rate
125
(652)
Movement in deferred tax not recognised
2,535
-
0
Taxation charge
242,165
245,279
11
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Final paid
509,581
1,363,500
12
Investment property
Group
Company
2024
2024
£
£
Fair value
At 1 June 2023 and 31 May 2024
785,371
-

Investment property comprises properties held by the company for rental income purposes. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors on 31 May 2024. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

 

JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 21 -
13
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
15
-
0
-
0
2,599,235
2,599,104
Unlisted investments
7,960
7,960
-
0
-
0
7,960
7,960
2,599,235
2,599,104
Movements in fixed asset investments
Group
Investments
£
Cost or valuation
At 1 June 2023 and 31 May 2024
7,960
Carrying amount
At 31 May 2024
7,960
At 31 May 2023
7,960
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 June 2023
2,599,104
Additions
131
At 31 May 2024
2,599,235
Carrying amount
At 31 May 2024
2,599,235
At 31 May 2023
2,599,104
JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 22 -
14
Tangible fixed assets
Group
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2023
211,237
362,897
1,059,525
1,633,659
Additions
614,517
48,476
176,913
839,906
At 31 May 2024
825,754
411,373
1,236,438
2,473,565
Depreciation and impairment
At 1 June 2023
56,908
262,624
669,487
989,019
Depreciation charged in the year
15,492
17,077
127,471
160,040
At 31 May 2024
72,400
279,701
796,958
1,149,059
Carrying amount
At 31 May 2024
753,354
131,672
439,480
1,324,506
At 31 May 2023
154,329
100,273
390,038
644,640
Company
Freehold land and buildings
£
Cost
At 1 June 2023 and 31 May 2024
58,764
Depreciation and impairment
At 1 June 2023
1,175
Depreciation charged in the year
1,175
At 31 May 2024
2,350
Carrying amount
At 31 May 2024
56,414
At 31 May 2023
57,589
JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 23 -
15
Subsidiaries

Details of the company's subsidiaries at 31 May 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
T. & J. T. Barton (Bottlers) Limited
Potters Farm Bryn Road, Ashton-In-Makerfield, Wigan, Greater Manchester, WN4 8AH
Ordinary
100.00
Barton's NW Limited
Potters Farm Bryn Road, Ashton-In-Makerfield, Wigan, Greater Manchester, WN4 8AH
Ordinary
79.00
Bartons Yorkshire Limited
Potters Farm Bryn Road, Ashton-In-Makerfield, Wigan, Greater Manchester, WN4 8AH
Ordinary
100.00
Thomas Barton Wines Limited
Potters Farm Bryn Road, Ashton-In-Makerfield, Wigan, Greater Manchester, WN4 8AH
Ordinary
100.00
Barton's Brands Limited
Potters Farm Bryn Road, Ashton-In-Makerfield, Wigan, Greater Manchester, WN4 8AH
Ordinary
100.00

For the year ended 31 May 2024, Bartons Yorkshire Limited was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

16
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Finished goods and goods for resale
2,735,574
2,694,207
-
0
-
0
17
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
4,113,011
3,809,305
-
0
-
0
Amounts owed by group undertakings
594,459
-
189,486
-
Other debtors
743,362
1,205,810
71,750
71,750
Prepayments and accrued income
286,283
161,932
-
0
-
0
5,737,115
5,177,047
261,236
71,750
Amounts falling due after more than one year:
Other debtors
5,040
-
0
-
0
-
0
Total debtors
5,742,155
5,177,047
261,236
71,750

Amounts owed by group companies are interest free and repayable on demand.

JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 24 -
18
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
20
10,648
14,939
-
0
-
0
Trade creditors
5,128,446
4,559,690
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
400,131
210,514
Corporation tax payable
117,523
89,365
-
0
-
0
Other taxation and social security
157,968
212,710
-
-
Other creditors
920,122
6,329
-
0
-
0
Accruals and deferred income
92,417
50,100
-
0
-
0
6,427,124
4,933,133
400,131
210,514

Amounts owed to group companies are interest free and repayable on demand.

 

Included in other creditors is a balance of £904,660 due for credit cards. These borrowings are secured by fixed and floating charges over the property or undertaking of the company.

19
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
20
15,135
25,003
-
0
-
0
20
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
25,783
35,651
-
0
-
0
Bank overdrafts
-
0
4,291
-
0
-
0
25,783
39,942
-
-
Payable within one year
10,648
14,939
-
0
-
0
Payable after one year
15,135
25,003
-
0
-
0

 

As part of the governments coronavirus business interruption loan scheme, the subsidiary, Barton's NW Limited, received a loan of £50,000 in November 2020. For the first 12 months from the drawdown the annual interest rate is 0%. The loan after 12 months will be subject to an interest rate of 2.5% per annum and is repayable 72 months after the drawdown.

 

The bank overdraft is secured by floating charges over all the property or undertaking of the company.

JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 25 -
21
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
123,768
129,742
Tax losses
(14,886)
(17,354)
108,882
112,388
The company has no deferred tax assets or liabilities.
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 June 2023
112,388
-
Credit to profit or loss
(3,506)
-
Liability at 31 May 2024
108,882
-
22
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
315,865
25,714

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

 

Contributions totalling £nil (2023: £3,802) were payable to the fund at the balance sheet date.

JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 26 -
23
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2,509,104
-
2,509,104
-
Ordinary A shares of £1 each
-
2,208,008
-
2,208,008
Ordinary B shares of £1 each
-
125,456
-
125,456
Ordinary C shares of £1 each
-
125,456
-
125,456
Ordinary D shares of £1 each
-
25,092
-
25,092
Ordinary E shares of £1 each
-
25,092
-
25,092
2,509,104
2,509,104
2,509,104
2,509,104

On 3rd January 2023, the company performed a share reorganisation. This is detailed in the table above. These shares were issued and fully paid.

 

The A ordinary shares have full voting, dividends and distribution rights. The B, C, D, and E ordinary shares have no voting rights. All classes of shares rank pari passu for dividends and in entitlement to assets on a winding up of the company. Distributions are applicable subject to certain criteria set out in the Articles of Association.

24
Cash generated from group operations
2024
2023
£
£
Profit after taxation
693,559
957,241
Adjustments for:
Taxation charged
242,165
245,279
Finance costs
3,553
1,027
Investment income
(2,642)
(19,767)
Gain on disposal of tangible fixed assets
-
(7,919)
Depreciation and impairment of tangible fixed assets
160,040
132,492
Movements in working capital:
Increase in stocks
(41,367)
(567,592)
Increase in debtors
(1,567,172)
(1,197,540)
Increase in creditors
1,470,203
2,106,892
Cash generated from operations
958,339
1,650,113
JT BARTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 27 -
25
Analysis of changes in net funds - group
1 June 2023
Cash flows
31 May 2024
£
£
£
Cash at bank and in hand
1,818,597
378,254
2,196,851
Bank overdrafts
(4,291)
4,291
-
0
1,814,306
382,545
2,196,851
Borrowings excluding overdrafts
(35,651)
-
20,376
1,778,655
382,545
2,217,227
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