John Guest International Limited 03880612 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is an intermediate holding company in the Reliance Worldwide Corporation Limited group (“the Group”). The Company is the immediate parent company of Reliance Worldwide Corporation (UK) Ltd (“RWC UK”), and a number of other entities based in the United Kingdom. In turn, the Company’s key subsidiary, RWC UK, owns a number of the trading subsidiaries of the Group, that market, sell and distribute the John Guest products in a number of markets around the world. The principal activity of the Company is to act as an intermediate holding company. Digita Accounts Production Advanced 6.30.9574.0 true true true true true true true false true false true false 03880612 2023-07-01 2024-06-30 03880612 2024-06-30 03880612 bus:Director3 2024-06-30 03880612 bus:Director4 2024-06-30 03880612 bus:OrdinaryShareClass1 2024-06-30 03880612 core:RetainedEarningsAccumulatedLosses 2024-06-30 03880612 core:ShareCapital 2024-06-30 03880612 core:CurrentFinancialInstruments 2024-06-30 03880612 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 03880612 bus:FRS102 2023-07-01 2024-06-30 03880612 bus:Audited 2023-07-01 2024-06-30 03880612 bus:FullAccounts 2023-07-01 2024-06-30 03880612 bus:RegisteredOffice 2023-07-01 2024-06-30 03880612 bus:Director1 2023-07-01 2024-06-30 03880612 bus:Director2 2023-07-01 2024-06-30 03880612 bus:Director3 2023-07-01 2024-06-30 03880612 bus:Director4 2023-07-01 2024-06-30 03880612 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 03880612 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03880612 bus:Agent1 2023-07-01 2024-06-30 03880612 core:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 03880612 core:ShareCapital 2023-07-01 2024-06-30 03880612 core:Subsidiary1 2023-07-01 2024-06-30 03880612 core:Subsidiary1 1 2023-07-01 2024-06-30 03880612 core:Subsidiary1 countries:UnitedKingdom 2023-07-01 2024-06-30 03880612 1 2023-07-01 2024-06-30 03880612 countries:AllCountries 2023-07-01 2024-06-30 03880612 2023-06-30 03880612 core:RetainedEarningsAccumulatedLosses 2023-06-30 03880612 core:ShareCapital 2023-06-30 03880612 core:CostValuation 2023-06-30 03880612 2022-07-01 2023-06-30 03880612 2023-06-30 03880612 bus:OrdinaryShareClass1 2023-06-30 03880612 core:CurrentFinancialInstruments 2023-06-30 03880612 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 03880612 core:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 03880612 core:ShareCapital 2022-07-01 2023-06-30 03880612 core:Subsidiary1 1 2022-07-01 2023-06-30 03880612 2022-06-30 03880612 core:RetainedEarningsAccumulatedLosses 2022-06-30 03880612 core:ShareCapital 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03880612

John Guest International Limited

Annual Report and Financial Statements

for the Year Ended 30 June 2024

 

John Guest International Limited

Contents

Company Information

1

Strategic Report

2 to 4

Directors' Report

5 to 6

Statement of Directors' Responsibilities

7

Independent Auditor's Report

8 to 10

Profit and Loss Account

11

Balance Sheet

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14 to 17

 

John Guest International Limited

Company Information

Directors

S J Brook

S J Curry

A Rayat

Registered office

Horton Road
Yiewsley
West Drayton
UB7 8JL

Auditors

Clement Rabjohns Limited
Registered Auditors and Chartered Accountants111/113 High Street
Evesham
Worcestershire
WR11 4XP

 

John Guest International Limited

Strategic Report for the Year Ended 30 June 2024

The directors present their strategic report for the year ended 30 June 2024.

Principal activity

The principal activity of the company is an intermediate holding company in the Reliance Worldwide Corporation Limited group (“the Group”). The Company is the immediate parent company of Reliance Worldwide Corporation (UK) Ltd (“RWC UK”), and a number of other entities based in the United Kingdom. In turn, the Company’s key subsidiary, RWC UK, owns a number of the trading subsidiaries of the Group, that market, sell and distribute the John Guest products in a number of markets around the world. The principal activity of the Company is to act as an intermediate holding company.

Fair review of the business

As an intermediate holding company in the Group, the Company’s primary role is to pass dividends from its subsidiaries to its parent company, Reliance Worldwide Corporation Holdings (UK) Limited, for further distribution up the Group. Therefore, the performance of the Company directly relates to the performance of its subsidiary undertakings (and in turn, their subsidiaries). Specifically, the ability of the subsidiaries, especially RWC UK, to generate profits and positive cash flow from their trading activities in line with current year budgets and longer-term strategic plans is of paramount importance to the Company.

In order to assess the performance of the Company in this context, the Directors consider the results of the EMEA region of the Group, which consists of the European entities of the Group. This includes most of the Company’s subsidiaries (including RWC UK, which is by far the largest) and therefore reflects the subsidiaries’ abilities to generate profit and positive cash flow on behalf of the Company. On this basis, the most relevant key performance indicators are shown in the following table, these results are not consolidated into the Company but can be found in the financial statements of RWC UK.

The company's key financial and other performance indicators during the year were as follows:

Financial KPIs

Unit

2024

2023

Revenue

£m

185.90

195.30

Gross profit

£m

87.30

93.60

Margin (% of revenue)

%

47.00

47.90

Profit before tax

£m

23.60

67.00

Finance expense

£m

.70

.40

Depreciation and amortisation

£m

8.90

8.20

EBITDA

£m

33.20

75.60

Principal risks and uncertainties

 

John Guest International Limited

Strategic Report for the Year Ended 30 June 2024

As an intermediate holding company, the Company’s main risks are those that its subsidiary undertakings face. These include:

Competitor risks
The Company’s subsidiaries operate in highly competitive markets with frequent product innovations. To reduce this risk, we undertake market research to ensure that our own quality products continue to meet our customers’ needs. Competitor risk also manifests itself in price pressures and competitors attempting to buy market share.

Commercial relationships
The Company’s subsidiaries benefit from close commercial relationships with a number of key customers. Damage to, or loss of these relationships, could have a negative impact on the Company's results. To manage this risk, the Company’s subsidiaries operate their own continuous customer management relationship programs.

Section 172(1) statement

The Directors are committed to complying with their obligations under section 172 of the UK Companies Act 2006 as detailed below:

“A Director of a company must act in the way he considers, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole, and in doing so have regard (amongst other matters) to—

a) the likely consequences of any decision in the long term,

b) the interests of the company's employees,

c) the need to foster the company's business relationships with suppliers, customers and others,

d) the impact of the company's operations on the community and the environment,

e) the desirability of the company maintaining a reputation for high standards of business conduct, and

f) the need to act fairly as between members of the company.”

Decisions regarding the investments made by the company are supported by appropriate financial modelling.

Engagement with employees

The Company does not have any employees, however the interests of the employees in the wider RWC group are considered when making business decisions.

Engagement with suppliers, customers and other relationships

The Company’s key business relationships are with fellow Group companies and it is committed to dealing with these in a fair manner.

The Company also considers its local community, environmental obligations and need to avoid reputational risk when making key decisions.

The Company only has a single shareholder.

Approved and authorised by the Board on 28 March 2025 and signed on its behalf by:
 

 

John Guest International Limited

Strategic Report for the Year Ended 30 June 2024

.........................................
S J Curry
Director

 

John Guest International Limited

Directors' Report for the Year Ended 30 June 2024

The directors present their report and the financial statements for the year ended 30 June 2024.

Directors of the company

The directors who held office during the year were as follows:

S J Brook

S J Curry

A Rayat (appointed 18 December 2023)

T Van De Wiel (resigned 18 December 2023)

Financial instruments

Objectives and policies

The Company does not use derivatives or other financial instruments to manage financial risk. The financial risks the Company is exposed to are those of its subsidiaries, which are discussed in the Strategic Report.

Price risk, credit risk, liquidity risk and cash flow risk

Cash flow risk
The Company’s subsidiaries’ activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The Company’s principal subsidiary, RWC UK, sells to both other Reliance Worldwide Corporation group companies and third-party customers in stable currencies, such as the Euro and US Dollar. RWC UK is cash generative and excess cash generated by the business is distributed to the Company by dividends. 

Credit risk
The Company’s subsidiaries’ principal financial assets are bank balances and cash, trade and other receivables.
The subsidiaries’ credit risk is primarily attributable to their trade receivables. The amounts recorded are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event, which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The Company’s subsidiaries have no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the Company’s immediate subsidiary, RWC UK, has access to a short–term overdraft facility. The Company and its subsidiaries work with the Group’s treasury function to ensure efficient financing is available, if and when required.

Future developments

The future developments in the Company’s business are discussed in the Strategic Report. As an intermediate holding company, the Directors continue to focus on ensuring that the Company’s operations support the operational performance of the Company’s subsidiaries in order to generate returns for the Group.

Going concern

 

John Guest International Limited

Directors' Report for the Year Ended 30 June 2024

The Directors have reviewed the Company’s financial position and future trading plans and concluded that there is a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months from the date of this report. The Company has prepared budgets covering the subsequent financial year (ending 30 June 2025), forecasts covering the period to 31 December 2025 and has wider strategic plans in place beyond that date that demonstrate the ability of the Company to deliver cash-backed profits for the foreseeable future.

The Company’s business activities, together with the factors likely to affect its future development, performance and position are set out in the strategic report. The Directors’ report further describes the financial position of the company.

The Directors have considered the impact of a long economic recession caused by the Cost of Living crisis. This would have a significant impact on sales but the business would remain profitable. The Directors have also considered ongoing material cost price pressures, and they concluded that although margin may reduce the business would remain profitable. The business could also remain profitable if faced with a combination of economic recession and material cost price pressures.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Reappointment of auditors

In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Clement Rabjohns Limited as auditors of the company is to be proposed at the forthcoming Annual General Meeting.

Approved and authorised by the Board on 28 March 2025 and signed on its behalf by:
 

.........................................
S J Curry
Director

 

John Guest International Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities 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 company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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 transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

John Guest International Limited

Independent Auditor's Report to the Members of John Guest International Limited

Opinion

We have audited the financial statements of John Guest International Limited (the 'company') for the year ended 30 June 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its 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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

 

John Guest International Limited

Independent Auditor's Report to the Members of John Guest International Limited

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

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

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of 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 7], 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditor 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.

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

Enquiry of management, those charged with governance 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.

Reviewing minutes of meetings of those charged with governance.

Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

 

John Guest International Limited

Independent Auditor's Report to the Members of John Guest International Limited

Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: 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.

......................................
Philip Parsons FCA (Senior Statutory Auditor)
For and on behalf of Clement Rabjohns Limited, Statutory Auditor
 111/113 High Street
Evesham
Worcestershire
WR11 4XP

28 March 2025

 

John Guest International Limited

Profit and Loss Account for the Year Ended 30 June 2024

Note

2024
£ 000

2023
£ 000

Turnover

-

-

Gross profit/(loss)

 

-

-

Operating profit/(loss)

-

-

Income from shares in group undertakings

 

20,103

74,737

Profit before tax

 

20,103

74,737

Profit for the financial year

 

20,103

74,737

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

John Guest International Limited

(Registration number: 03880612)
Balance Sheet as at 30 June 2024

Note

2024
£ 000

2023
£ 000

Fixed assets

 

Investments

4

10,052

10,052

Current assets

 

Debtors

5

-

1

Net assets

 

10,052

10,053

Capital and reserves

 

Called up share capital

10,000

10,000

Retained earnings

7

52

53

Shareholders' funds

 

10,052

10,053

Approved and authorised by the Board on 28 March 2025 and signed on its behalf by:
 

.........................................
S J Curry
Director

 

John Guest International Limited

Statement of Changes in Equity for the Year Ended 30 June 2024

Share capital
£ 000

Retained earnings
£ 000

Total
£ 000

At 1 July 2023

10,000

53

10,053

Profit for the year

-

20,103

20,103

Dividends

-

(20,103)

(20,103)

At 30 June 2024

10,000

52

10,052

Share capital
£ 000

Retained earnings
£ 000

Total
£ 000

At 1 July 2022

10,000

53

10,053

Profit for the year

-

74,737

74,737

Dividends

-

(74,737)

(74,737)

At 30 June 2023

10,000

53

10,053

 

John Guest International Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales, UK.

The address of its registered office is:
Horton Road
Yiewsley
West Drayton
UB7 8JL
United Kingdom

These financial statements were authorised for issue by the Board on 28 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Pound Sterling being the company's functional currency.

Summary of disclosure exemptions

John Guest International Limited meets the definition of a qualifying entity under FRS 102 and is therefore exempt from certain disclosure requirements in respect of its financial statements. Exemptions have been taken in relation to the preparation of a statement of cash flows, financial instruments and key management compensation.

Name of parent of group

These financial statements are consolidated in the financial statements of Reliance Worldwide Corporation Limited.

The financial statements of Reliance Worldwide Corporation Limited may be obtained from 28 Chapman Place, Eagle Farm, Queensland 4009, Australia or from www.rwc.com.

Group accounts not prepared

The consolidated financial statements of Reliance Worldwide Corporation Limited are prepared in accordance with Tier 1: Australian Accounting Standards, which incorporate International Financial Reporting Standards and are available to the public.

Going concern

The financial statements have been prepared on a going concern basis.

 

John Guest International Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Exemption from preparing group accounts

The financial statements contain information about John Guest International Limited as an individual company and do not contain consolidated financial information as the parent of a group.
The company is exempt under section 401 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Reliance Worldwide Corporation Limited, a company incorporated in Australia.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

John Guest International Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

3

Staff costs

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
No.

2023
No.

Administration and support

3

3

3

3

4

Investments

2024
£ 000

2023
£ 000

Investments in subsidiaries

10,052

10,052

Subsidiaries

£ 000

Cost or valuation

At 1 July 2023

10,052

Provision

Carrying amount

At 30 June 2024

10,052

At 30 June 2023

10,052

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Reliance Worldwide Corporation (UK) Limited

Horton Road, Yiewsley, West Drayton, UN7 8JL

United Kingdom

Ordinary

100%

100%

Subsidiary undertakings

Reliance Worldwide Corporation (UK) Limited

The principal activity of Reliance Worldwide Corporation (UK) Limited is the manufacture and distribution of John Guest products and the Group's other products.

 

John Guest International Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

5

Debtors

Current

Note

2024
£ 000

2023
£ 000

Amounts owed by related parties

9

-

1

   

-

1

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No. 000

£ 000

No. 000

£ 000

Ordinary shares of £1 each

10,000

10,000

10,000

10,000

       

7

Reserves

Retained earnings

Includes all current and prior period retained profits and losses.

8

Dividends

2024

2023

£ 000

£ 000

Interim dividend of £2.01 (2023 - £7.47) per ordinary share

20,103

74,737

 

 

9

Related party transactions

The Company transacts with other companies in the Reliance Worldwide Corporation Limited Group. The Company has taken advantage of the exemption contained in FRS 102 and so has not disclosed related party transactions between itself and other wholly owned entities of the Reliance Worldwide Corporation Limited Group.

10

Parent and ultimate parent undertaking

The company's immediate parent is Reliance Worldwide Corporation Holdings (UK) Limited, incorporated in the UK.

 The ultimate parent is Reliance Worldwide Corporation Limited, incorporated in Australia.

 The most senior parent entity producing publicly available financial statements is Reliance Worldwide Corporation Limited. These financial statements are available upon request from 28 Chapman Place, Eagle Farm, Queensland 4009, Australia or from www.rwc.com.

 The ultimate controlling party is Reliance Worldwide Corporation Limited.