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REGISTERED NUMBER: 02707551 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024

FOR

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024










Page

Company Information 1

Group Strategic Report 2 to 4

Report of the Directors 5 to 6

Report of the Independent Auditors 7 to 10

Consolidated Statement of Comprehensive Income 11

Consolidated Statement of Financial Position 12

Company Statement of Financial Position 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Statement of Cash Flows 16

Notes to the Consolidated Statement of Cash Flows 17 to 18

Notes to the Consolidated Financial Statements 19 to 38


JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024







DIRECTORS: P J Blakeman
S Cope
S Collinge
K Moller



SECRETARY: S Cope



REGISTERED OFFICE: Millennium Way
High Carr Business Park
Newcastle under Lyme
Staffordshire
ST5 7UF



REGISTERED NUMBER: 02707551 (England and Wales)



AUDITORS: Sumer Auditco Limited
Chartered Accountants & Statutory Auditors
Stone House
Stone Road Business Park
Stoke-on-Trent
ST4 6SR



BANKERS: National Westminster Bank Plc
Market Street
Longton
Stoke-on-Trent
ST3 2HW



SOLICITORS: Knight & Sons
The Brampton
Newcastle-under-Lyme
Staffordshire
ST5 0QW

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

GROUP STRATEGIC REPORT
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


The directors present their strategic report of the company and the group for the period 1 October 2023 to 27 September 2024.

PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
The principal activity of the Group was that of sausage manufacturers, cooked meats wholesalers and cold storage services for the meat industry.

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

Period to Year to
27.9.24 30.9.23
£    £   
Turnover 67,358 62,221
Operating profit 4,042 3,985
Profit before tax 3,913 3,840
Equity shareholders' funds 26,895 23,753
Liquidity 2.9 2.0

Financial review of James T Blakeman & Co Limited
Turnover increased in the period. This was due to an increased volume of sales across the customer range. The Profit before tax increased from £2.67m to £3.00m as a result of the increased turnover to commercial customers.

Financial review of James T Blakeman (Services) Limited
Turnover increased in the year. This was as a result of increased business across the customer base. Gross profit margin slightly decreased from 14.5% to 13.8%, this was due to a slight increase in raw materials costs. The increase in energy costs of £160k, together with the reduction in margin resulted in the reduction in the profit before tax.


The Directors and Executive Committee, comprising the senior management within the Group meet weekly and have continued to manage and monitor the financial performance of the business; and assess and manage the material risks faced by the business, ensuring effective risk management strategies are in place.

The key areas of risk management and monitoring of financial performance have included:

Monitoring of KPI's - Financial
Monthly and weekly monitoring of financial performance by reference to key performance indicators regarding turnover, production efficiency measures, the management of overheads and cash flow management are in place. There have been no material financial risk issues arising during the year.

Forecast
Annual financial forecasts are prepared against which to measure the business' results. The business has continued to meet its key financial objectives and manage cash flow. Financial Forecasts for the year to 30 September 2026 have been prepared and reviewed by the Directors. These indicate that the business has the financial resources to continue to support trading operations.

Purchasing Strategy
The Business has appointed a new head of purchasing who is working with his team to continue to agree forward contracts with suppliers to secure the supply of pork materials used in product manufacture. At present the market is stable in terms of supplies and pricing. Blakeman Services is now purchasing it's own raw materials directly from suppliers (not via Manufacturing).


JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

GROUP STRATEGIC REPORT
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


Monitoring of KPI's - non-financial

Quality standards
The Company has a dedicated quality team who oversee all aspects of food production and ensure product quality is maintained. The Quality team's senior management are part of the Executive Committee.

Employee Engagement
The "BIG" group continues to meet regularly. This group includes representatives from all operating, administrative and leadership teams. It considers comments and suggestions from all staff to develop the business and enhance the quality of the experience for all staff working for the business. The business also undertakes an annual survey of all employees to receive feedback on their work experience and how this may be improved.

Customers
Our customers have remained very consistent throughout the period and our Customer Services team have remained in contact with them to ensure we are able to meet the growth in demand.

Suppliers
Our suppliers have also remained consistent in their supply of meat and related products to enable production volumes to be achieved to meet demand.

Future Developments - Investment in the business
Services have implemented a significant expansion in the production plant to increase the product manufacturing capacity and efficiency. This has enabled the business to produce its own products and focus its production planning to meet expanding customer demand.

Manufacturing is seeing the benefits of the return on the investment in the automated frozen packing line and the extension of the production capacity of the factory completed in recent years. We are continuing to invest in plant and machinery to sustain and build production efficiencies and capacity. Going forward there will be challenges, but our teams are focused on continuing to grow the business in all areas of foodservice.

SECTION 172 STATEMENT - DIRECTORS DUTIES
As required by Section 172 of the Companies Act, a director of a company must act in a way he or she considers, in good faith, would likely promote the success of the company for the benefit of the shareholders.

In doing so, the director must have regard, amongst other matters, to the following issues:
- the likely consequences of any decisions in the long term;
- the interests of the company's employees;
- the need to foster the company's business relationships with suppliers/customers and others;
- the impact of the company's operations on the community and environment;
- the company's reputation for high standards of business conduct; and
- the need to act fairly between members of the company

In their decision making, the Directors have had regard to the best interests of the business, the Group, and its wider stakeholders. This is evidenced in the following ways:


JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

GROUP STRATEGIC REPORT
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


Stakeholder interest
The interests of the Group's key stakeholders have been supported in the following ways:

- to support the Group's financiers, detailed financial information regarding the performance of the Group has been provided on a monthly basis;
- to support food health and safety regulators, all food audits have been completed successfully by the provision of information remotely and meeting with food regulators via zoom meeting.

Culture
The Directors have continued to invest in staff welfare and well-being:

- Undertaking a staff engagement survey to ensure staff opinions and views are heard and considered.
- Operation of a Blakeman Improvement Group, made up entirely of staff members, to discuss issues raised by staff and make presentations to the Directors.
- Maintaining the award of Christmas financial bonuses to recognise the contribution made by all staff in challenging times.

ON BEHALF OF THE BOARD:





P J Blakeman - Director


1 April 2025

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


The directors present their report with the financial statements of the company and the group for the period 1 October 2023 to 27 September 2024.

DIVIDENDS
Particulars of recommended dividends are detailed in the notes to the financial statements.

RESEARCH AND DEVELOPMENT
Research and development expenditure is written off in the year in which it is incurred.

FUTURE DEVELOPMENTS
The likely future developments of the business are included in the strategic report.

EVENTS SINCE THE END OF THE PERIOD
Information relating to events since the end of the period is given in the notes to the financial statements.

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

P J Blakeman
S Cope

Other changes in directors holding office are as follows:

S Collinge - appointed on 24 June 2024
K Moller - appointed on 24 June 2024

EMPLOYMENT OF DISABLED PERSONS
The group gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person. Where existing employees become disabled, it is the group's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate.

EMPLOYEE INVOLVEMENT
The group is committed to good communication with its employees. Regular meetings are held between management and employees to allow a free flow of information and ideas.

DISCLOSURE IN THE STRATEGIC REPORT
The company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 including details of future developments of the group.

The strategic report can be found on page 2 of these financial statements.


JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

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

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

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

AUDITORS
The auditors are deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

ON BEHALF OF THE BOARD:





P J Blakeman - Director


1 April 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED


Opinion
We have audited the financial statements of JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (the 'parent company') and its subsidiaries (the 'group') for the period ended 27 September 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 27 September 2024 and of the group's profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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

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

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

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

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JAMES T BLAKEMAN & CO (HOLDINGS) 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 Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

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

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

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

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED


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

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

We 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.

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 considered the following:
- the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;
- results of our enquiries of management about their own identification and assessment of the risks of
irregularities;
- any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to;
- Identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of noncompliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

Based on this approach, we were able to assess the company risks and ensure the risks were considered throughout all areas of audit testing. The audit team was professionally sceptical throughout the audit and remained alert for inaccurate or misleading information.

Audit response to risks identified

As a result of performing the above, we identified Food Safety and Health and Safety compliance risk as key audit matters related to the potential risk of fraud or irregularities. Our procedures to respond to risks identified included the following:
- reviewing any audits completed by regulatory bodies in the year and the outcomes of these to ensure no breach of laws and regulations;
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- obtaining an understanding of provisions and holding discussions with management to understand the basis of recognition or non-recognition of tax provisions; and
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Audit testing was completed on a targeted sample basis based on our assessment of risk and materiality.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED

Due 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, 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 fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the Auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the Auditors. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express and opinion on the consolidated financial statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.




Michelle Coates (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Limited
Chartered Accountants & Statutory Auditors
Stone House
Stone Road Business Park
Stoke-on-Trent
ST4 6SR

3 April 2025

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024

Period
1.10.23
to Year Ended
27.9.24 30.9.23
Notes £    £   

TURNOVER 3 67,358,533 62,220,791

Cost of sales (55,105,694 ) (51,196,781 )
GROSS PROFIT 12,252,839 11,024,010

Distribution costs (1,524,506 ) (1,526,017 )
Administrative expenses (6,685,835 ) (5,513,178 )
OPERATING PROFIT 6 4,042,498 3,984,815

Interest receivable and similar income 8 28,810 27,557
4,071,308 4,012,372

Interest payable and similar expenses 9 (157,986 ) (172,751 )
PROFIT BEFORE TAXATION 3,913,322 3,839,621

Tax on profit 10 (978,907 ) (794,161 )
PROFIT FOR THE FINANCIAL PERIOD 2,934,415 3,045,460

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
27 SEPTEMBER 2024

27.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Tangible assets 13 19,444,902 18,387,880
Investments 14 - -
Investment property 15 - -
19,444,902 18,387,880

CURRENT ASSETS
Stocks 16 4,528,556 6,375,521
Debtors 17 11,371,272 9,878,569
Cash at bank and in hand 1,530,560 1,535,197
17,430,388 17,789,287
CREDITORS
Amounts falling due within one year 18 (5,947,005 ) (8,974,633 )
NET CURRENT ASSETS 11,483,383 8,814,654
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,928,285

27,202,534

CREDITORS
Amounts falling due after more than one
year

19

(1,912,369

)

(1,580,043

)

PROVISIONS FOR LIABILITIES 22 (2,120,557 ) (1,869,847 )
NET ASSETS 26,895,359 23,752,644

CAPITAL AND RESERVES
Called up share capital 23 600 600
Non-distributable reserve 24 2,136,239 1,901,539
Retained earnings 24 24,758,520 21,850,505
SHAREHOLDERS' FUNDS 26,895,359 23,752,644

The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:




P J Blakeman - Director



S Cope - Director


JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

COMPANY STATEMENT OF FINANCIAL POSITION
27 SEPTEMBER 2024

27.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Tangible assets 13 682,127 716,442
Investments 14 99,500 99,500
Investment property 15 10,250,000 10,000,000
11,031,627 10,815,942

CURRENT ASSETS
Debtors 17 10,741,217 9,585,617
Cash at bank 69,137 626,730
10,810,354 10,212,347
CREDITORS
Amounts falling due within one year 18 (449,825 ) (2,455,123 )
NET CURRENT ASSETS 10,360,529 7,757,224
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,392,156

18,573,166

CREDITORS
Amounts falling due after more than one
year

19

(1,912,369

)

(1,523,753

)

PROVISIONS FOR LIABILITIES 22 (170,532 ) (179,110 )
NET ASSETS 19,309,255 16,870,303

CAPITAL AND RESERVES
Called up share capital 23 100 100
Non-distributable reserve 24 2,136,238 1,901,538
Retained earnings 24 17,172,917 14,968,665
SHAREHOLDERS' FUNDS 19,309,255 16,870,303

Company's profit for the financial year 2,465,352 2,412,591

The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:




P J Blakeman - Director



S Cope - Director


JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024

Called up
share Retained Non-distributable Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 October 2022 600 22,135,187 - 22,135,787

Changes in equity
Revaluation in the year - - 1,901,539 1,901,539
Dividends - (3,330,142 ) - (3,330,142 )
Total comprehensive income - 3,045,460 - 3,045,460
Balance at 30 September 2023 600 21,850,505 1,901,539 23,752,644

Changes in equity
Revaluation in the year - - 234,700 234,700
Dividends - (26,400 ) - (26,400 )
Total comprehensive income - 2,934,415 - 2,934,415
Balance at 27 September 2024 600 24,758,520 2,136,239 26,895,359

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024

Called up
share Retained Non-distributable Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 October 2022 100 15,801,779 1,985,975 17,787,854

Changes in equity
Revaluation in the year - 84,437 (84,437 ) -
Dividends - (3,330,142 ) - (3,330,142 )
Total comprehensive income - 2,412,591 - 2,412,591
Balance at 30 September 2023 100 14,968,665 1,901,538 16,870,303

Changes in equity
Revaluation in the year - (234,700 ) 234,700 -
Dividends - (26,400 ) - (26,400 )
Total comprehensive income - 2,465,352 - 2,465,352
Balance at 27 September 2024 100 17,172,917 2,136,238 19,309,255

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024

Period
1.10.23
to Year Ended
27.9.24 30.9.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 5,844,643 2,798,010
Interest paid (144,437 ) (166,709 )
Interest element of hire purchase
payments paid

(13,549

)

(6,042

)
Interest received 28,810 27,557
Tax paid (772,813 ) (481,580 )
Net cash from operating activities 4,942,654 2,171,236

Cash flows from investing activities
Purchase of tangible fixed assets (1,926,682 ) (3,106,297 )
Sale of tangible fixed assets 18,500 123,457
Net cash from investing activities (1,908,182 ) (2,982,840 )

Cash flows from financing activities
Loan repayments in year (623,521 ) (384,545 )
Payments of finance leases (58,847 ) (115,058 )
Amount introduced by directors - 2,647,969
Amount withdrawn by directors (2,330,341 ) -
Equity dividends paid (26,400 ) (3,330,142 )
Net cash from financing activities (3,039,109 ) (1,181,776 )

Decrease in cash and cash equivalents (4,637 ) (1,993,380 )
Cash and cash equivalents at
beginning of period

2

1,535,197

3,528,577

Cash and cash equivalents at end of
period

2

1,530,560

1,535,197

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


1. RECONCILIATION OF PROFIT FOR THE FINANCIAL PERIOD TO CASH GENERATED FROM
OPERATIONS

Period
1.10.23
to Year Ended
27.9.24 30.9.23
£    £   
Profit for the financial period 2,934,415 3,045,460
Depreciation charges 1,064,514 881,973
Loss/(profit) on disposal of fixed assets 21,345 (46,286 )
Accrued expenses/(income) (176,451 ) 148,651
Finance costs 157,986 172,751
Finance income (28,810 ) (27,557 )
Taxation 978,907 794,161
4,951,906 4,969,153
Decrease/(increase) in stocks 1,846,965 (2,652,254 )
Increase in trade and other debtors (185,103 ) (1,213,562 )
(Decrease)/increase in trade and other creditors (769,125 ) 1,694,673
Cash generated from operations 5,844,643 2,798,010

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Period ended 27 September 2024
27.9.24 1.10.23
£    £   
Cash and cash equivalents 1,530,560 1,535,197
Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 1,535,197 3,528,577


JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.10.23 Cash flow changes At 27.9.24
£    £    £    £   
Net cash
Cash at bank
and in hand 1,535,197 (4,637 ) 1,530,560
1,535,197 (4,637 ) 1,530,560
Debt
Finance leases (125,285 ) 58,847 - (66,438 )
Debts falling due
within 1 year (1,335,196 ) 623,521 437,498 (274,177 )
Debts falling due
after 1 year (918,342 ) - (437,498 ) (1,355,840 )
(2,378,823 ) 682,368 - (1,696,455 )
Total (843,626 ) 677,731 - (165,895 )

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


1. STATUTORY INFORMATION

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The principal activity of the company during the year was that of a holding company.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS
The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:

(b) No cash flow statement has been presented for the company.
(c) Disclosures in respect of financial instruments have not been presented.
(e) No disclosure has been given for the aggregate remuneration of key management personnel.

BASIS OF CONSOLIDATION
The group financial statements consolidate the accounts of James T Blakeman & Co (Holdings) Limited and all its subsidiary undertakings made up to 30 September 2024. The group profit and loss accounts includes the results of all subsidiary undertakings for the period from the date of their acquisition and up to the date of disposal.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not included its individual statement of comprehensive income.

Turnover and profits arising on trading between group companies are excluded. Where the group has an investment in an entity which is sufficient to give the group a participating interest, and over which it is in a position to exercise significant influence, the entity is treated as an associated undertaking and is accounted for using the equity method of accounting. The group's interests in joint ventures are accounted for using the gross equity method of accounting.

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Interest on loans

The directors have charged interest on the intercompany loans to the trading subsidiaries at an interest rate of 6.75%. The directors consider this to be a commercial rate of interest.

Valuation of investment property

As described in the notes to the financial statements, the directors believe, based on professional advice, the investment property to be stated at fair value as at 27 September 2024.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as described below.

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

REVENUE RECOGNITION
Revenue is measured at the fair value of the consideration received or receivable for goods supplied and is net of returns, discounts and rebates. Revenue is recognised on despatch of the goods to the customer. The turnover shown in the Statement of Comprehensive Income is exclusive of Value Added Tax.

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long life assets - 4% on cost
Plant and machinery - 10% reducing balance and 4% on cost
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 20% reducing balance

All fixed assets are initially recorded at cost.

A full year's depreciation is charged in the year of purchase but no depreciation is charged in the year of disposal.

Depreciation on freehold buildings is not provided as any uncharged depreciation for the year, and any accumulated uncharged depreciation, would be immaterial in aggregate as a result of the group's policy to maintain its properties in good condition, which substantially prolongs their useful economic life and the estimated high residual value of the properties.

Tangible assets which are not depreciated are reviewed for impairment annually by the directors in accordance with Section 17 of FRS 102.

The group's policy is to carry all assets at historical cost , except for freehold land and buildings which has been included in the statement of financial position at valuation.

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

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TAXATION
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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 statement of financial position date.


JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

RESEARCH AND DEVELOPMENT
Research expenditure is written off in the period in which it is incurred.

Development expenditure incurred is capitalised as an intangible asset only when all of the
following criteria are met:

- It is technically feasible to complete the intangible asset so that it will be available for use or sale;
- There is the intention to complete the intangible asset and use or sell it;
- There is the ability to use or sell the intangible asset;
- The use or sale of the intangible asset will generate probable future economic benefits;
- There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and
- The expenditure attributable to the intangible asset during its development can be measured reliably.

Expenditure that does not meet the above criteria is expensed as incurred.

FINANCE LEASES AND HIRE PURCHASE CONTRACTS
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

DEFINED CONTRIBUTION PLANS
The group operates a defined contribution plan for its employees. The pension costs charged in the financial statements represent the contribution payable by the group during the year.

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

EMPLOYEE BENEFITS
The group provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expense in the profit and loss account in the period in which they are incurred.

INVESTMENTS
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

INVESTMENT PROPERTY
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

IMPAIRMENT OF FIXED ASSETS
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

3. TURNOVER

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

An analysis of turnover by class of business is given below:

Period
1.10.23
to Year Ended
27.9.24 30.9.23
£    £   
Sale of goods 67,358,533 62,220,791
67,358,533 62,220,791

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


3. TURNOVER - continued

An analysis of turnover by geographical market is given below:

Period
1.10.23
to Year Ended
27.9.24 30.9.23
£    £   
United Kingdom 67,358,533 62,220,791
67,358,533 62,220,791

4. EMPLOYEES AND DIRECTORS
Period
1.10.23
to Year Ended
27.9.24 30.9.23
£    £   
Wages and salaries 10,276,115 9,629,585
Social security costs 973,667 842,767
Other pension costs 288,081 269,215
11,537,863 10,741,567

The average number of employees during the period was as follows:
Period
1.10.23
to Year Ended
27.9.24 30.9.23

Directors 4 3
Other operatives 261 264
Office 21 21
286 288

5. DIRECTORS' EMOLUMENTS
Period
1.10.23
to Year Ended
27.9.24 30.9.23
£    £   
Directors' remuneration 947,317 501,657
Directors' pension contributions to money purchase schemes 10,960 11,229

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


5. DIRECTORS' EMOLUMENTS - continued

Information regarding the highest paid director is as follows:
Period
1.10.23
to Year Ended
27.9.24 30.9.23
£    £   
Emoluments etc 476,008 251,024
Pension contributions to money purchase schemes 5,480 5,614

6. OPERATING PROFIT

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

Period
1.10.23
to Year Ended
27.9.24 30.9.23
£    £   
Other operating leases 329,789 270,278
Depreciation - owned assets 1,064,515 881,973
Loss/(profit) on disposal of fixed assets 21,345 (46,286 )
Operating lease costs - Plant and machinery 143,465 155,182

7. AUDITORS' REMUNERATION

The audit fee payable to the company's auditors for the audit of the group's financial statements is £50,000 (2023: £38,500).

8. INTEREST RECEIVABLE AND SIMILAR INCOME
Period
1.10.23
to Year Ended
27.9.24 30.9.23
£    £   
Bank interest receivable 28,810 3,714
Interest on early payment of taxation - 23,843
28,810 27,557

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


9. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.10.23
to Year Ended
27.9.24 30.9.23
£    £   
Bank loan interest 139,437 132,273
Dividends paid on shares
classed as debt 5,000 27,187
Other interest payable - 7,249
Hire purchase interest 13,549 6,042
157,986 172,751

10. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
Period
1.10.23
to Year Ended
27.9.24 30.9.23
£    £   
Current tax:
UK corporation tax 728,197 370,396

Deferred tax 250,710 423,765
Tax on profit 978,907 794,161

RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.10.23
to Year Ended
27.9.24 30.9.23
£    £   
Profit before tax 3,913,322 3,839,621
Profit multiplied by the standard rate of corporation tax in the UK of
25 % (2023 - 25 %)

978,331

959,905

Effects of:
Expenses not deductible for tax purposes 7,565 22,554
Capital allowances in excess of depreciation (6,989 ) (137,948 )
chargeable
Change in the rate of taxation - (50,350 )
Total tax charge 978,907 794,161

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


11. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


12. DIVIDENDS
Period
1.10.23
to Year Ended
27.9.24 30.9.23
£    £   
Ordinary A shares of £1 each
Equity dividends paid - 1,121,776
Ordinary B shares of £1 each
Equity dividends paid 26,400 1,936,706
Ordinary C shares of £1 each
Equity dividends paid - 271,660
26,400 3,330,142

13. TANGIBLE FIXED ASSETS

Group
Freehold Long life Plant and
property assets machinery
£    £    £   
COST OR VALUATION
At 1 October 2023 10,000,000 579,250 14,850,298
Additions 15,300 - 1,846,479
Disposals - - (76,500 )
Revaluations 234,700 - -
At 27 September 2024 10,250,000 579,250 16,620,277
DEPRECIATION
At 1 October 2023 - 409,694 7,174,065
Charge for period - 23,170 922,294
Eliminated on disposal - - (36,655 )
At 27 September 2024 - 432,864 8,059,704
NET BOOK VALUE
At 27 September 2024 10,250,000 146,386 8,560,573
At 30 September 2023 10,000,000 169,556 7,676,233

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


13. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 October 2023 985,540 625,015 562,141 27,602,244
Additions 63,372 - 1,531 1,926,682
Disposals - - - (76,500 )
Revaluations - - - 234,700
At 27 September 2024 1,048,912 625,015 563,672 29,687,126
DEPRECIATION
At 1 October 2023 747,606 370,671 512,328 9,214,364
Charge for period 45,196 63,585 10,270 1,064,515
Eliminated on disposal - - - (36,655 )
At 27 September 2024 792,802 434,256 522,598 10,242,224
NET BOOK VALUE
At 27 September 2024 256,110 190,759 41,074 19,444,902
At 30 September 2023 237,934 254,344 49,813 18,387,880

The freehold property was valued in February 2025 by Lowe & Elliott Chartered Surveyors. The directors are of the opinion that the valuation represents the fair value at 27 September 2024.

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

Group 27.9.24 30.09.23
£ £

Plant and machinery 201,293 223,659
Motor vehicles - -
201,293 223,659

Cost or valuation at 27 September 2024 is represented by:

Freehold Long life Plant and
property assets machinery
£    £    £   
Valuation in 2023 1,901,538 - -
Valuation in 2024 234,700 - -
Cost 8,113,762 579,250 16,620,277
10,250,000 579,250 16,620,277

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


13. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2023 - - - 1,901,538
Valuation in 2024 - - - 234,700
Cost 1,048,912 625,015 563,672 27,550,888
1,048,912 625,015 563,672 29,687,126

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

27.9.24 30.9.23
£    £   
Cost 8,113,762 8,098,462

Company
Plant and
machinery
£   
COST
At 1 October 2023
and 27 September 2024 857,865
DEPRECIATION
At 1 October 2023 141,423
Charge for period 34,315
At 27 September 2024 175,738
NET BOOK VALUE
At 27 September 2024 682,127
At 30 September 2023 716,442

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


14. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 27 September 2024 99,500
NET BOOK VALUE
At 27 September 2024 99,500
At 30 September 2023 99,500

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

SUBSIDIARIES

James T Blakeman & Co Limited
Registered office: Millenium Way, High Carr Business Park, Newcastle, Staffordshire, ST5 7UF.
Nature of business: sausage manufacturers and cooked meat wholesalers
%
Class of shares: holding
Ordinary 99.00

James T Blakeman (Services) Limited
Registered office: Millenium Way, High Carr Business Park, Newcastle, Staffordshire, ST5 7UF.
Nature of business: provision of cooking and cold storage services
%
Class of shares: holding
Ordinary 100.00



15. INVESTMENT PROPERTY
Company
Total
£   
COST OR VALUATION
At 1 October 2023 10,000,000
Additions 15,300
Revaluations 234,700
At 27 September 2024 10,250,000
NET BOOK VALUE
At 27 September 2024 10,250,000
At 30 September 2023 10,000,000

The investment property was valued in February 2025 by Lowe & Elliott Chartered Surveyors. The directors are of the opinion that the valuation represents the fair value at 27 September 2024.

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


15. INVESTMENT PROPERTY - continued

Company

Cost or valuation at 27 September 2024 is represented by:
£   
Valuation in 2020 1,480,091
Valuation in 2022 505,884
Valuation in 2023 (84,437 )
Valuation in 2024 234,700
Cost 8,113,762
10,250,000

If investment properties had not been revalued it would have been included at the following historical cost:

27.9.24 30.9.23
£    £   
Cost 8,113,762 8,098,462

16. STOCKS

Group
27.9.24 30.9.23
£    £   
Raw materials 1,866,041 2,936,379
Packaging 156,136 92,361
Finished goods 2,506,379 3,346,781
4,528,556 6,375,521

Impairment losses recognised or reversed in profit or loss in accordance with section 27 were £177,862 (2023: £53,242).

17. DEBTORS

Group Company
27.9.24 30.9.23 27.9.24 30.9.23
£    £    £    £   
Amounts falling due within one year:
Trade debtors 8,140,369 7,697,288 - -
Other debtors 582,579 954,407 334,389 234,390
Directors' loan accounts 1,307,600 - 1,307,600 -
VAT 175,887 203,694 - -
Prepayments and accrued income 1,164,837 1,023,180 - -
11,371,272 9,878,569 1,641,989 234,390

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


17. DEBTORS - continued

Group Company
27.9.24 30.9.23 27.9.24 30.9.23
£    £    £    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings - - 9,099,228 9,351,227

Aggregate amounts 11,371,272 9,878,569 10,741,217 9,585,617

Amounts owed by group undertakings are unsecured and are subject to interest at 6.75% per annum.

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
27.9.24 30.9.23 27.9.24 30.9.23
£    £    £    £   
Bank loans and overdrafts (see note 20) 274,177 1,335,196 274,177 1,335,196
Hire purchase contracts (see note 21) 66,438 68,995 - -
Trade creditors 4,356,053 5,057,274 - -
Tax 57,118 101,734 123,858 44,941
Social security and other taxes 235,716 264,175 45,305 45,761
Other creditors 136,231 126,795 - -
Directors' loan accounts - 1,022,741 - 1,022,741
Accruals and deferred income 821,272 997,723 6,485 6,484
5,947,005 8,974,633 449,825 2,455,123

The aggregate amounts of obligations under finance leases and hire purchase contracts due within one year that are secured is £66,438 (2023: £68,995). This creditor is secured on the assets to which they relate.

The aggregate amounts of bank loans and overdrafts due within one year that are secured is £274,177 (2023: £1,335,196). This creditor is secured as detailed below.

The bank loans are secured by a freehold first legal charge dated 29 April 2005 over the freehold property at High Carr Business Park, Newcastle.

James T Blakeman & Co Limited has an unscheduled mortgage debenture dated 1 September 1992 which incorporates a fixed and floating charge over all current and future assets of that company, except the book debts, which are secured in favour of RBS Invoice Finance Limited under a debenture dated 21 May 2012.

James T Blakeman (Services) Limited has a mortgage debenture dated 3 October 2000 with National Westminster Bank plc over all the current and future assets of that company, except the book debts, which are secured in favour of RBS Invoice Finance Limited under a debenture dated 16 May 2018.

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


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

Group Company
27.9.24 30.9.23 27.9.24 30.9.23
£    £    £    £   
Bank loans (see note 20) 1,355,840 918,342 1,355,840 918,342
Hire purchase contracts (see note 21) - 56,290 - -
Shares classed as financial
liabilities 500,000 500,000 500,000 500,000
Other loans 56,529 105,411 56,529 105,411
1,912,369 1,580,043 1,912,369 1,523,753

The aggregate amounts of obligations under finance leases and hire purchase contracts due after one year that are secured is £nil (2023: £56,290). This creditor is secured on the assets to which they relate.

The aggregate amounts of bank loans and overdrafts due after one year that are secured is £1,355,840 (2023: £918,342). This creditor is secured as detailed below.

The company has three bank loans. The first is repayable over a period of 5 years by regular instalments and is accruing interest at a rate of 1.822% above the bank's base rate.

The second is repayable over a period of 7 years by regular instalments and is accruing interest at a rate of 1.5% above the banks base rate.

The third is repayable over a period of 10 years by regular instalments and is accruing interest at a rate of 1.5% above the banks base rate.

The company also took out a Coronavirus Business Interruption Loan. The loan was taken in May 2020 with a repayment holiday of 12 months. The loan is repayable by May 2026. Loan interest for the first 12 months of the loan will be funded by the UK Government, thereafter the interest rate is 2.5% per annum and is payable by the company. The loan was repaid in full during the year.

The aggregate amounts of other creditors due after one year that are secured is £56,529 (2023: £105,411). This creditor is secured by a debenture dated 1 September 1992.

Included within creditors: amounts falling due after more than one year is an amount of £556,529 (2023: £605,411) for the group and for the company in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.

The shares classed as financial liabilities do not have a fixed date of redemption and therefore have been included in repayable in five years or more.

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


20. LOANS

An analysis of the maturity of loans is given below:

Group Company
27.9.24 30.9.23 27.9.24 30.9.23
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 274,177 1,335,196 274,177 1,335,196
Amounts falling due between one and two years:
Bank loans - 1-2 years 234,550 289,300 234,550 289,300
Amounts falling due between two and five years:
Bank loans - 2-5 years 331,898 405,245 331,898 405,245
Amounts falling due in more than five years:
Repayable by instalments
Bank loans payable more than
5 years by instalments 789,392 223,797 789,392 223,797
789,392 223,797 789,392 223,797

21. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
27.9.24 30.9.23
£    £   
Gross obligations repayable:
Within one year 67,507 72,396
Between one and five years - 57,359
67,507 129,755

Finance charges repayable:
Within one year 1,069 3,401
Between one and five years - 1,069
1,069 4,470

Net obligations repayable:
Within one year 66,438 68,995
Between one and five years - 56,290
66,438 125,285

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


21. LEASING AGREEMENTS - continued

Group
Non-cancellable operating leases
27.9.24 30.9.23
£    £   
Within one year 338,557 290,043
Between one and five years 757,965 616,269
1,096,522 906,312

22. PROVISIONS FOR LIABILITIES

Group Company
27.9.24 30.9.23 27.9.24 30.9.23
£    £    £    £   
Deferred tax
Accelerated capital allowances 2,120,557 1,869,847 170,532 179,110

Group
Deferred
tax
£   
Balance at 1 October 2023 1,869,847
Provided during period 250,710
Balance at 27 September 2024 2,120,557

Company
Deferred
tax
£   
Balance at 1 October 2023 179,110
Provided during period (8,578 )
Balance at 27 September 2024 170,532

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 27.9.24 30.9.23
value: £    £   
38 Ordinary A £1 38 38
57 Ordinary B £1 557 557
5 Ordinary C £1 5 5
600 600

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


23. CALLED UP SHARE CAPITAL - continued

The Ordinary A, B and C shares rank pari passu in all respects but constitute separate classes of shares. The share classes have the right to varying dividends and distributions.

Amounts presented in liabilities:

Preference shares of £1 each of 500,000 (2023: 500,000)

The preference shares have the following rights:

- fixed cumulative preferential dividend at the annual rate of between 1% and 7.25% of the nominal value payable by 30 September of the relevant financial year;

- in the event of a winding up, the preference shareholders shall be paid by the liquidator in priority to other claims or rights of shareholders in respect of share capital;

- to receive notice of all general meetings but not a right to attend or vote; and

- to request redemption of the preference shares under certain circumstances.

24. RESERVES

Group

Retained earnings - This reserve records retained earnings and accumulated losses.

Non-distributable reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income.

Company

Retained earnings - This reserve records retained earnings and accumulated losses.

Non-distributable reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income.

25. CAPITAL COMMITMENTS
27.9.24 30.9.23
£    £   
Contracted but not provided for in the
financial statements - 1,396,000

JAMES T BLAKEMAN & CO (HOLDINGS) LIMITED (REGISTERED NUMBER: 02707551)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 27 SEPTEMBER 2024


26. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 27 September 2024 and the year ended 30 September 2023:

27.9.24 30.9.23
£    £   
P J Blakeman
Balance outstanding at start of period (638,039 ) 969,404
Amounts advanced 1,600,738 329,263
Amounts repaid (28,900 ) (1,936,706 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 933,799 (638,039 )

S Cope
Balance outstanding at start of period (384,693 ) 519,885
Amounts advanced 761,002 217,198
Amounts repaid (2,500 ) (1,121,776 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 373,809 (384,693 )

J T Blakeman Deceased
Balance outstanding at start of period (8 ) 135,939
Amounts advanced - 168,336
Amounts repaid - (304,283 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (8 ) (8 )

The directors' loans were interest free and unsecured with no fixed repayment term.

By virtue of the loan accounts, a liability to taxation exists under section 455 of CTA 2010 in the sum of £441,318 which will be repaid or discharged when the loans are repaid. It is anticipated that the loans will be repaid within nine months of the year end and, as such, no provision for the taxation has been made.

27. RELATED PARTY DISCLOSURES

Details of the transactions between fellow group companies have not been disclosed in line with
paragraph 33.1A of FRS102.

28. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no material events after the reporting period and up to the date of approval of the financial statements by the Board.

29. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P J Blakeman by virtue of his majority shareholding in the company.