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REGISTERED NUMBER: 14954300 (England and Wales)












JTS CAPITAL VENTURES LIMITED

GROUP STRATEGIC REPORT, DIRECTORS' REPORT AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

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










Page

Company Information 1

Group Strategic Report 2

Directors' Report 4

Independent Auditors' Report 6

Consolidated Statement of Income and Retained
Earnings

10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


JTS CAPITAL VENTURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







Directors: Mr J C Scott
Mr T J Scott



Registered office: Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Business address: Union Road
LIVERSEDGE
WF15 7JS



Registered number: 14954300 (England and Wales)



Auditors: Xeinadin Audit Limited
Accountants and Statutory Auditors
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Accountants: Xeinadin
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024


The directors present their strategic report of the company and the group for the year ended 30 September 2024.

Review of business
The principal activity of the group is the production and distribution of steel reinforcement bar & mesh and roofing & cladding products.

During 2024 the group focused on further refurbishment and investment to both sites at Liversedge and Hull in order to remain efficient and effective with service and cost for the years ahead, which in turn helps the company to be even more competitive and reactive in the market place. Whilst the refurbishment was aimed at bringing some tired site areas back to life, the investment was strong which included extra stock storage areas at Hull as well as a brand new higher capacity de-coiler for the main "Foreclad ®" line also at Hull. Liversedge saw even greater investment with the beginning of works to install two brand new and higher capacity over head crane systems which included all new supporting steel work.

Whilst the group overall enjoyed another very positive year, the steel industry faced fluctuating demand throughout 2024, remaining robust in some key sectors, while others faced challenges. The growth in certain areas offset weaknesses in others. Whilst production costs continue to rise due to many different factors, market pressures are intensifying which makes for an interesting year ahead as to which will prevail.

The financial statements show that the group's turnover has increased from £1,256,436 to £15,708,414 and the gross profit from £332,772 to £3,971,468. The investment in the subsidiary was made 24 August 2023 and therefore the prior year figures are for a short period. Although the annual turnover of the subsidiary has decreased in the year the gross profit has increased due to improved margins. The directors monitor the progress of the business based on the following key performance indicator's:
2024 2023
Turnover 15,708,414 1,256,436
Operating profit 2,100,099 120,842

Principal risks and uncertainties
The directors consider the following to be the principal risks faced by the group:
- The economic uncertainty due to the cost of living crisis
- The impact of rising inflation rates
- Credit risk
- Ongoing war in Ukraine
- Shipping routes affected by the Red Sea

The group continues to invest in the business in order to safeguard its future and leave it well placed to take advantage of new business opportunities in the future.

Credit checks are carried out for new customers, all debtor balances are reviewed regularly and debtors insurance taken out in order to keep credit risk to a minimum. Historically bad debts written off have been low.

The directors are continually monitoring the risks faced by the group and do everything that they can to minimise their potential impact on the group.

The group has no borrowings and a strong cash position and therefore the directors have determined that there is no material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern.


JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Future developments
As the group continues to look to expand it's offering within key products, recognising the success of the "Thermoclad ®" panel there are plans to add another colour option to help appeal to a wider audience whilst remaining competitive in the market place.

The "Foreclad ®" profile sheeting range is still at the heart of the group and keeping the machines that produce these products in peak condition is extremely important to the business, therefore further line improvements will be made over at the Hull site to ensure that it is always ready to react to market demands!

The internal computer hardware systems continue with upgrades including further additions to bespoke software for our sales and operations teams in order to improve efficiencies and product control.

Extensive electrical work is also planned in order to modernise aging underground power cables, add extra data links between buildings and add extra lighting in key areas, all to assist with the priority of maintaining a safe, modern working environment.

The group has also recruited new and targeted personnel to help assist and drive the group forward in it's continued plans for growth.

On behalf of the board:





Mr J C Scott - Director


3 April 2025

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024


The directors present their report with the financial statements of the company and the group for the year ended 30 September 2024.

Dividends
Interim dividends per share were paid during the year as follows:
Ordinary A £1 - £24.24243 - 29 February 2024
Ordinary B £1 - £36.67325 - 29 February 2024
Ordinary C £1 - £36.95652 - 29 February 2024

The total distribution of dividends for the year ended 30 September 2024 will be £ 226,550 .

Future developments
Incorporated within Principal Risks and Uncertainties in the Strategic Report

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

Mr J C Scott
Mr T J Scott

Other changes in directors holding office are as follows:

Mr N P Scott - resigned 5 April 2024
Mrs S J Scott - resigned 5 April 2024

Statement of directors' responsibilities
The directors are responsible for preparing the Group Strategic Report, the Directors' 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

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

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Auditors
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





Mr J C Scott - Director


3 April 2025

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
JTS CAPITAL VENTURES LIMITED


Opinion
We have audited the financial statements of JTS Capital Ventures Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2024 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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

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

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

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

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
JTS CAPITAL VENTURES LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

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

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

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
JTS CAPITAL VENTURES 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 an Auditors' 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:

- enquiries are made of management and those charged with governance as to whether there is any knowledge of actual, suspected, or alleged fraud, whether there is any known non-compliance with laws or regulations, and whether the company has been subject to any litigation or any legal claims.

- audit work over the risk of management override of controls is undertaken. This includes testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

- analytical reviews are performed on the financial statements at all stages of the audit by comparison to prior years and expectations to ensure the reasonableness of the figures therein.

- third party confirmation is obtained from the company's bankers to confirm bank balances, loan facilities and security held.

- detailed audit testing is undertaken in specific areas to ensure that income and expenditure is correctly recorded and is a genuine income or expense of the company.

- financial statement disclosures are reviewed and tested to supporting documentation to assess compliance with applicable laws and regulations.

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
JTS CAPITAL VENTURES LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' 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.




Stuart Hinnigan FCA CTA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
Accountants and Statutory Auditors
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

3 April 2025

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Period
22/6/23
Year Ended to
30/9/24 30/9/23
Notes £    £   

Turnover 3 15,708,414 1,256,436

Cost of sales 11,736,946 923,664
Gross profit 3,971,468 332,772

Administrative expenses 1,871,369 211,995
2,100,099 120,777

Other operating income 4 - 65
Operating profit 6 2,100,099 120,842

Interest receivable and similar income 165,118 19,878
2,265,217 140,720

Interest payable and similar expenses 7 - 567
Profit before taxation 2,265,217 140,153

Tax on profit 8 715,540 50,671
Profit for the financial year 1,549,677 89,482

Retained earnings at beginning of year 89,482 -

Dividends 10 (226,550 ) -

Retained earnings for the group at end of
year

1,412,609

89,482

Profit attributable to:
Owners of the parent 1,549,677 89,482

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

CONSOLIDATED BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
Fixed assets
Intangible assets 11 5,291,775 5,884,987
Tangible assets 12 770,693 779,073
Investments 13 - -
6,062,468 6,664,060

Current assets
Stocks 14 2,096,679 2,272,436
Debtors 15 1,931,844 1,741,169
Cash at bank and in hand 3,906,894 3,835,766
7,935,417 7,849,371
Creditors
Amounts falling due within one year 16 2,608,235 4,453,364
Net current assets 5,327,182 3,396,007
Total assets less current liabilities 11,389,650 10,060,067

Provisions for liabilities 18 177,850 171,394
Net assets 11,211,800 9,888,673

Capital and reserves
Called up share capital 19 5,000 5,000
Share premium 20 9,794,191 9,794,191
Retained earnings 20 1,412,609 89,482
Shareholders' funds 11,211,800 9,888,673

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by:





Mr J C Scott - Director


JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

COMPANY BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
Fixed assets
Intangible assets 11 - -
Tangible assets 12 - -
Investments 13 11,211,801 11,888,673
11,211,801 11,888,673

Creditors
Amounts falling due within one year 16 - 2,000,000
Net current liabilities - (2,000,000 )
Total assets less current liabilities 11,211,801 9,888,673

Capital and reserves
Called up share capital 19 5,000 5,000
Share premium 20 9,794,191 9,794,191
Retained earnings 20 1,412,610 89,482
Shareholders' funds 11,211,801 9,888,673

Company's profit for the financial year 1,457,678 89,482

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by:





Mr J C Scott - Director


JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Period
22/6/23
Year Ended to
30/9/24 30/9/23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,098,375 576,863
Interest paid - (567 )
Tax paid (589,918 ) -
Net cash from operating activities 2,508,457 576,296

Cash flows from investing activities
Purchase of tangible fixed assets (167,062 ) (75,000 )
Sale of tangible fixed assets 28,660 -
Purchase of subsidiary (net of cash acq) - 3,337,324
Interest received 165,118 19,878
Net cash from investing activities 26,716 3,282,202

Cash flows from financing activities
Amount introduced by directors 542,003 -
Amount withdrawn by directors (779,498 ) (22,732 )
Preference shares redeemed (2,000,000 ) -
Equity dividends paid (226,550 ) -
Net cash from financing activities (2,464,045 ) (22,732 )

Increase in cash and cash equivalents 71,128 3,835,766
Cash and cash equivalents at beginning of
year

2

3,835,766

-

Cash and cash equivalents at end of year 2 3,906,894 3,835,766

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

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


1. Reconciliation of profit before taxation to cash generated from operations

Period
22/6/23
Year Ended to
30/9/24 30/9/23
£    £   
Profit before taxation 2,265,217 140,153
Depreciation charges 746,116 84,252
Profit on disposal of fixed assets (6,124 ) -
Finance costs - 567
Finance income (165,118 ) (19,878 )
2,840,091 205,094
Decrease in stocks 175,757 227,564
(Increase)/decrease in trade and other debtors (190,675 ) 486,257
Increase/(decrease) in trade and other creditors 273,202 (342,052 )
Cash generated from operations 3,098,375 576,863

2. Cash and cash equivalents

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2024
30/9/24 1/10/23
£    £   
Cash and cash equivalents 3,906,894 3,835,766
Period ended 30 September 2023
30/9/23 22/6/23
£    £   
Cash and cash equivalents 3,835,766 -


3. Analysis of changes in net funds

At 1/10/23 Cash flow At 30/9/24
£    £    £   
Net cash
Cash at bank and in hand 3,835,766 71,128 3,906,894
3,835,766 71,128 3,906,894
Debt
Debts falling due within 1 year (2,000,000 ) 2,000,000 -
(2,000,000 ) 2,000,000 -
Total 1,835,766 2,071,128 3,906,894

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

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


1. Statutory information

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

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
When preparing the financial statements, the directors are required to make judgements, estimates and
assumptions about the carrying value of assets, liabilities, income and expenses.The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The group does not have any key assumptions concerning the future, or other key sources of estimation uncertainty in the reporting period that may have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

No judgements have been made in applying the groups accounting policies in the preparation of the financial statements, other than those involving estimation.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, for goods provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring a good to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - Straight line over 10 years
Plant and machinery - 15% Reducing balance
Fixtures and fittings - 15% Reducing balance
Motor vehicles - 25% Reducing balance
Computer equipment - Straight line over 4 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

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


2. Accounting policies - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

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

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

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


2. Accounting policies - continued

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

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

3. Turnover

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

4. Other operating income
Period
22/6/23
Year Ended to
30/9/24 30/9/23
£    £   
Other income - 65

5. Employees and directors
Period
22/6/23
Year Ended to
30/9/24 30/9/23
£    £   
Wages and salaries 1,473,434 164,232
Social security costs 132,529 15,783
Other pension costs 145,762 12,876
1,751,725 192,891

The average number of employees during the year was as follows:
Period
22/6/23
Year Ended to
30/9/24 30/9/23

Management 4 4
Administration 4 3
Sales 2 2
Production 33 35
43 44

The average number of employees by undertakings that were proportionately consolidated during the year was 43 (2023 - 44 ) .

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

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


5. Employees and directors - continued

Period
22/6/23
Year Ended to
30/9/24 30/9/23
£    £   
Directors' remuneration 78,778 2,462

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

Money purchase schemes 3 4

6. Operating profit

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

Period
22/6/23
Year Ended to
30/9/24 30/9/23
£    £   
Hire of plant and machinery 434 -
Other operating leases 84,000 -
Depreciation - owned assets 152,906 34,818
Profit on disposal of fixed assets (6,124 ) -
Goodwill amortisation 593,212 49,434
Auditors' remuneration 9,540 2,784
Foreign exchange differences 655 88

7. Interest payable and similar expenses
Period
22/6/23
Year Ended to
30/9/24 30/9/23
£    £   
Other interest payable - 567

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

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


8. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
22/6/23
Year Ended to
30/9/24 30/9/23
£    £   
Current tax:
UK corporation tax 708,680 54,879
Over/under provision of tax in p/yr (167 ) -
Total current tax 708,513 54,879

Deferred tax 7,027 (4,208 )
Tax on profit 715,540 50,671

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

Period
22/6/23
Year Ended to
30/9/24 30/9/23
£    £   
Profit before tax 2,265,217 140,153
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 25 %)

566,304

35,038

Effects of:
Expenses not deductible for tax purposes 1,100 12,457
Depreciation in excess of capital allowances 148,304 3,176
Adjustments to tax charge in respect of previous periods (168 ) -
Total tax charge 715,540 50,671

9. Individual income statement

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


JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

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


10. Dividends
Period
22/6/23
Year Ended to
30/9/24 30/9/23
£    £   
Ordinary A shares of £1 each
Interim 60,000 -
Ordinary B shares of £1 each
Interim 73,150 -
Ordinary C shares of £1 each
Interim 93,400 -
226,550 -

11. Intangible fixed assets

Group
Patents
and
Goodwill licences Totals
£    £    £   
Cost
At 1 October 2023
and 30 September 2024 5,932,121 2,300 5,934,421
Amortisation
At 1 October 2023 49,434 - 49,434
Amortisation for year 593,212 - 593,212
At 30 September 2024 642,646 - 642,646
Net book value
At 30 September 2024 5,289,475 2,300 5,291,775
At 30 September 2023 5,882,687 2,300 5,884,987

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

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


12. Tangible fixed assets

Group
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
Cost
At 1 October 2023 53,093 592,434 33,621
Additions - 156,182 9,775
Disposals - - -
At 30 September 2024 53,093 748,616 43,396
Depreciation
At 1 October 2023 682 10,416 851
Charge for year 6,724 110,731 8,512
Eliminated on disposal - - -
At 30 September 2024 7,406 121,147 9,363
Net book value
At 30 September 2024 45,687 627,469 34,033
At 30 September 2023 52,411 582,018 32,770

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 October 2023 114,057 20,686 813,891
Additions - 1,105 167,062
Disposals (53,420 ) (5,662 ) (59,082 )
At 30 September 2024 60,637 16,129 921,871
Depreciation
At 1 October 2023 21,865 1,004 34,818
Charge for year 17,415 9,524 152,906
Eliminated on disposal (30,884 ) (5,662 ) (36,546 )
At 30 September 2024 8,396 4,866 151,178
Net book value
At 30 September 2024 52,241 11,263 770,693
At 30 September 2023 92,192 19,682 779,073

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

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


13. Fixed asset investments

Company
Shares in
group
undertakings
£   
Cost
At 1 October 2023 11,888,673
Impairments (676,872 )
At 30 September 2024 11,211,801
Net book value
At 30 September 2024 11,211,801
At 30 September 2023 11,888,673

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

Subsidiary

Foregale Limited
Registered office: Union Road, Liversedge,WF15 7JS
Nature of business: supply of steel, mesh and roofing products
%
Class of shares: holding
Ordinary A 100.00
2024 2023
£    £   
Aggregate capital and reserves 5,922,326 6,005,986
Profit for the year/period 2,142,890 1,913,353


14. Stocks

Group
2024 2023
£    £   
Stocks 2,096,679 2,272,436

15. Debtors: amounts falling due within one year

Group
2024 2023
£    £   
Trade debtors 1,868,677 1,734,899
Other debtors 55,492 963
Prepayments 7,675 5,307
1,931,844 1,741,169

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

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


16. Creditors: amounts falling due within one year

Group Company
2024 2023 2024 2023
£    £    £    £   
Preference shares (see note 17) - 2,000,000 - 2,000,000
Trade creditors 1,743,962 1,507,066 - -
Tax 333,680 214,514 - -
Social security and other taxes 34,770 30,164 - -
VAT 316,913 322,469 - -
Directors' current accounts 5,364 242,861 - -
Accruals 173,546 136,290 - -
2,608,235 4,453,364 - 2,000,000

17. Loans

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Preference shares - 2,000,000 - 2,000,000

2,000,000 Preference shares of £1 each were redeemed in March 2024.

The preference shares do not entitle the holder to attend or vote at any meeting of the company. They do not entitle the holder to participate in any dividends declared by the company. They are redeemable at the instance of the company and at the instance of the holder. They rank ahead of all of the equity shares in a winding up or other return of capital up to an amount equal to the capital paid up on them but are not otherwise entitled to participate in such a distribution.

18. Provisions for liabilities

Group
2024 2023
£    £   
Deferred tax 177,850 171,394

Group
Deferred
tax
£   
Balance at 1 October 2023 171,394
Provided during year 6,456
On assets held at acquisition
Balance at 30 September 2024 177,850

JTS CAPITAL VENTURES LIMITED (REGISTERED NUMBER: 14954300)

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


19. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,475 Ordinary A £1 2,475 2,475
1,013 Ordinary B £1 1,013 1,013
1,012 Ordinary C £1 1,012 1,012
500 Ordinary D £1 500 500
5,000 5,000

All share classes rank pari passu and entitle the holders to vote, to dividends and to capital distribution arising from the winding up of the company

20. Reserves

Group
Retained Share
earnings premium Totals
£    £    £   

At 1 October 2023 89,482 9,794,191 9,883,673
Profit for the year 1,549,677 1,549,677
Dividends (226,550 ) (226,550 )
At 30 September 2024 1,412,609 9,794,191 11,206,800

Company
Retained Share
earnings premium Totals
£    £    £   

At 1 October 2023 89,482 9,794,191 9,883,673
Profit for the year 1,457,678 1,457,678
Dividends (134,550 ) (134,550 )
At 30 September 2024 1,412,610 9,794,191 11,206,801


21. Related party disclosures

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

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

The controlling party is Mr J C Scott.