Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312025-05-092025-05-092024-12-312025-05-09truefalsefalsetruetruetruethe import and wholesale distribution of tableware to the catering industry.true2024-01-01false3335 01201735 2024-01-01 2024-12-31 01201735 2023-01-31 2023-12-31 01201735 2024-12-31 01201735 2023-12-31 01201735 2023-01-31 01201735 c:CompanySecretary1 2024-01-01 2024-12-31 01201735 c:Director1 2024-01-01 2024-12-31 01201735 c:Director2 2024-01-01 2024-12-31 01201735 c:RegisteredOffice 2024-01-01 2024-12-31 01201735 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 01201735 d:Buildings d:LongLeaseholdAssets 2024-12-31 01201735 d:Buildings d:LongLeaseholdAssets 2023-12-31 01201735 d:PlantMachinery 2024-01-01 2024-12-31 01201735 d:PlantMachinery 2024-12-31 01201735 d:PlantMachinery 2023-12-31 01201735 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01201735 d:MotorVehicles 2024-01-01 2024-12-31 01201735 d:MotorVehicles 2024-12-31 01201735 d:MotorVehicles 2023-12-31 01201735 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01201735 d:OfficeEquipment 2024-01-01 2024-12-31 01201735 d:OfficeEquipment 2024-12-31 01201735 d:OfficeEquipment 2023-12-31 01201735 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01201735 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 01201735 d:OtherPropertyPlantEquipment 2024-12-31 01201735 d:OtherPropertyPlantEquipment 2023-12-31 01201735 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01201735 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01201735 d:ComputerSoftware 2024-12-31 01201735 d:ComputerSoftware 2023-12-31 01201735 d:CurrentFinancialInstruments 2024-12-31 01201735 d:CurrentFinancialInstruments 2023-12-31 01201735 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 01201735 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01201735 d:ReportableOperatingSegment1 2024-01-01 2024-12-31 01201735 d:ReportableOperatingSegment1 2023-01-31 2023-12-31 01201735 e:UnitedKingdom 2024-01-01 2024-12-31 01201735 e:UnitedKingdom 2023-01-31 2023-12-31 01201735 e:RestEuropeOutsideUK 2024-01-01 2024-12-31 01201735 e:RestEuropeOutsideUK 2023-01-31 2023-12-31 01201735 e:RestWorldOutsideUK 2024-01-01 2024-12-31 01201735 e:RestWorldOutsideUK 2023-01-31 2023-12-31 01201735 d:UKTax 2024-01-01 2024-12-31 01201735 d:UKTax 2023-01-31 2023-12-31 01201735 d:ShareCapital 2024-12-31 01201735 d:ShareCapital 2023-12-31 01201735 d:ShareCapital 2023-01-31 01201735 d:SharePremium 2024-01-01 2024-12-31 01201735 d:SharePremium 2024-12-31 01201735 d:SharePremium 2023-12-31 01201735 d:SharePremium 2023-01-31 01201735 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 01201735 d:RetainedEarningsAccumulatedLosses 2024-12-31 01201735 d:RetainedEarningsAccumulatedLosses 2023-01-31 2023-12-31 01201735 d:RetainedEarningsAccumulatedLosses 2023-12-31 01201735 d:RetainedEarningsAccumulatedLosses 2023-01-31 01201735 c:OrdinaryShareClass1 2024-01-01 2024-12-31 01201735 c:OrdinaryShareClass1 2024-12-31 01201735 c:OrdinaryShareClass1 2023-12-31 01201735 c:OrdinaryShareClass2 2024-01-01 2024-12-31 01201735 c:OrdinaryShareClass2 2024-12-31 01201735 c:OrdinaryShareClass2 2023-12-31 01201735 c:FRS102 2024-01-01 2024-12-31 01201735 c:Audited 2024-01-01 2024-12-31 01201735 c:FullAccounts 2024-01-01 2024-12-31 01201735 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01201735 d:WithinOneYear 2024-12-31 01201735 d:WithinOneYear 2023-12-31 01201735 d:BetweenOneFiveYears 2024-12-31 01201735 d:BetweenOneFiveYears 2023-12-31 01201735 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 01201735 2 2024-01-01 2024-12-31 01201735 d:ComputerSoftware d:OwnedIntangibleAssets 2024-01-01 2024-12-31 01201735 f:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Company Registered Number: 01201735










JOHN ARTIS LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
JOHN ARTIS LIMITED
 
 
COMPANY INFORMATION


Directors
J R Davis 
N R Grundy 




Company secretary
J R Davis



Registered number
01201735



Registered office
Artis Glassworks
Cox Lane

Chessington

Surrey

KT9 1SF




Independent auditor
MHA
Statutory Auditor

2 London Wall Place

London

EC2Y 5AU





 
JOHN ARTIS LIMITED
 

CONTENTS



Page
Strategic Report
 
1 - 2
Directors' Report
 
3 - 4
Independent Auditor's Report
 
5 - 8
Statement of Comprehensive Income
 
9
Balance Sheet
 
10
Statement of Changes in Equity
 
11
Notes to the Financial Statements
 
12 - 27


 
JOHN ARTIS LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction
 
The Directors present the Strategic Report of John Artis Limited (the "Company") for the year ended 31 December 2024.

Principal activity and Business review
 
The Company’s principal activity is the supply of light equipment to the Hospitality industry.
In 2024 the Company saw a weakening of sales due to the increased inflation putting pressure on disposable income. The Directors are pleased to report turnover of £10.6m (2023: £11.3m) and a profit before tax of £0.79m (2023: £1.11m).

Principal risks and uncertainties
 
The Company relies ultimately on discretionary spending by the public and is therefore exposed to a downturn in economic conditions. The relative high inflation in 2024 could have an impact on the discretionary spend by the public, along with confidence of businesses to invest with a potential change in UK government. The Company has a loyal and stable customer base and represents several leading and reputable manufacturers in the foodservice sector. 

Financial key performance indicators
 
The Company uses a range of key performance indicators to monitor and manage its activities efficiently, with the most significant of these being:
Stock turnover days   Decreased by 1 day on the prior year
Debtor days                 Decreased by 7 days on the prior year
Creditor days    Increased by 4 days on the prior year

Future Developments
The company continues with its operations and activities of providing tableware products to the UK hospitality industry. 
The Directors expect the business to continue trading profitably and retain good liquidity.

Financial instruments
 
The Company’s financial risk management objective is broadly to seek to make neither profit nor loss from exposure to currency or interest rate risks. It’s policy is to finance working capital through retained earnings. The Company manages sterling costs of imported products by utilising forward exchange contracts for the US Dollar and the Euro, where buying volumes can be predicted.
The Company’s cashflow risk in respect of forward currency purchases is minimal as it aims to pay suppliers in accordance with their terms matching the maturity of the currency purchases.
The Directors do not consider any other risks attaching to the Company’s use of financial instruments to be material to an assessment of its’ financial position or profits.

Page 1

 
JOHN ARTIS LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024


This report was approved by the board and signed on its behalf.



J R Davis
Director
Date: 9 May 2025

Page 2

 
JOHN ARTIS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The Directors present their report and the financial statements for the year ended 31 December 2024.

Directors

The Directors who served during the year were:

J R Davis 
N R Grundy 

Dividends

The profit for the year, after taxation, amounted to £602,267 (2023 - £822,113).

The Directors have recommended a dividend of £nil (2023 - £1,000,000).

Directors' responsibilities statement

The Directors are responsible for preparing the 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the Directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK 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 transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Matters covered in the Strategic Report

In accordance with Section 414c (ii) of the Companies Act 2006, the Directors have chosen to include the following items in the Strategic Report:
 

Page 3

 
JOHN ARTIS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Disclosure of information to auditor

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the Director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

This report was approved by the board and signed on its behalf.
 





J R Davis
Director
Date: 9 May 2025

Page 4

 
JOHN ARTIS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOHN ARTIS LIMITED
 

Opinion


We have audited the financial statements of John Artis Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 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.


Page 5

 
JOHN ARTIS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOHN ARTIS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


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


Matters on which we are required to report by exception
 

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


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


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


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


Page 6

 
JOHN ARTIS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOHN ARTIS LIMITED (CONTINUED)


Auditor's responsibilities for the audit of the financial statements
 

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


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

Enquiry of management and those charged with governance around actual and potential litigation and claims;
Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropiateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;
Reviewing minutes of meetings of those charges with governance; and
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. 


Because of 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 Auditor's Report.


Page 7

 
JOHN ARTIS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOHN ARTIS LIMITED (CONTINUED)


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 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Rajeev Shaunak BSc FCA (Senior Statutory Auditor)
for and on behalf of
MHA
Statutory Auditor
London, United Kingdom

9 May 2025

MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales
(registered number OC455542).
Page 8

 
JOHN ARTIS LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
10,668,726
11,338,527

Cost of sales
  
(6,607,833)
(6,928,496)

Gross profit
  
4,060,893
4,410,031

Distribution costs
  
(508,597)
(510,779)

Administrative expenses
  
(2,798,012)
(2,817,793)

Operating profit
 5 
754,284
1,081,459

Interest receivable and similar income
 9 
37,705
32,096

Profit before tax
  
791,989
1,113,555

Tax on profit
 10 
(189,722)
(291,442)

Profit for the financial year
  
602,267
822,113

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 12 to 27 form part of these financial statements.

Page 9

 
JOHN ARTIS LIMITED
REGISTERED NUMBER: 01201735

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 12 
118,175
124,578

Tangible assets
 13 
243,143
247,103

  
361,318
371,681

Current assets
  

Stocks
 14 
1,354,786
1,424,725

Debtors: amounts falling due within one year
 15 
2,332,115
2,451,313

Cash at bank and in hand
 16 
1,985,726
1,139,951

  
5,672,627
5,015,989

Creditors: amounts falling due within one year
 17 
(1,690,400)
(1,646,392)

Net current assets
  
 
 
3,982,227
 
 
3,369,597

  

Net assets
  
4,343,545
3,741,278


Capital and reserves
  

Called up share capital 
 18 
20,000
20,000

Share premium account
 19 
20,500
20,500

Profit and loss account
 19 
4,303,045
3,700,778

  
4,343,545
3,741,278


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J R Davis
Director
Date: 9 May 2025

The notes on pages 12 to 27 form part of these financial statements.

Page 10

 
JOHN ARTIS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
20,000
20,500
3,878,665
3,919,165


Comprehensive income

Profit for the period
-
-
822,113
822,113

Dividends: Equity capital
-
-
(1,000,000)
(1,000,000)



At 1 January 2024
20,000
20,500
3,700,778
3,741,278


Comprehensive income

Profit for the year
-
-
602,267
602,267


At 31 December 2024
20,000
20,500
4,303,045
4,343,545


The notes on pages 12 to 27 form part of these financial statements.

Page 11

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

John Artis Limited is a private company limited by shares and is incorporated in England and Wales. The Company registration number is 01201735. Its registered office is Artis Glassworks, Cox Lane, Chessington, Surrey, KT9 1SF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The financial statements are rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A.

This information is included in the consolidated financial statements of [Enter Parent entity here] as at [Enter Year end here] and these financial statements may be obtained from [Enter location here].

 
2.3

Going concern

The Directors have assessed the going concern status of the Company. That assessment includes the impact of changes in interest rates and cost of living increases. It also considers both the national and global economic climate.
The Directors consider that the Company has sufficient liquid resources and access to future resources to enable the Company to cover its costs and pay its liabilities for the next 12 months from the date of approval of these financial statements.
Consequently, the Directors have concluded that there are no material uncertainties that may cast significant doubt about the Company's ability to continue as a going concern for the next 12 months from the date of approval of these financial statements. Accordingly, the going concern basis has been adopted in preparing the financial statements.

Page 12

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 13

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Operating leases: the Company as lessee

Operating leases are those leases where the Company has use of an asset but where the significant risks and rewards of ownership remain with the lessor and the lease term is not expected to be a significant portion of the useful life of the asset,

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 14

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Assets costing £1,000 or more are capitalised as tangible fixed assets and are carried at cost, net of
depreciation and any provision for impairment.

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 15

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as shown below.

Depreciation is provided on the following basis:

Long-term leasehold property
-
over the period of the lease
Plant and machinery
-
25% straight line
Motor vehicles
-
33% reducing balance
Office equipment
-
25% straight line
Other fixed assets
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 16

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.16

Financial instruments


The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 17

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The Company makes certain estimates and assumptions regarding the future. Estimates and judgements are continually evaluated based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances. In the future, actual experience may differ from these estimates and assumptions. The estimates and assumptions that have a signficant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
3.1 Stock provisions
The Company makes provision against the value of stock based on standard group policy, which is based on the ongoing assessment of the net realisable value of stock as it ages.
3.2 Turnover rebate accrual
Turnover rebates are payable to customers upon reaching annual growth targets. Rebates reduce turnover in the year in which the qualifying turnover growth relates. Where rebate periods are not coterminous with the Company's financial year end, management estimates expected growth based upon extrapolation of sales within the year and applies to those sales. Accrual of these rebates is included in creditors.


4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Sale of goods
10,668,726
11,338,527

10,668,726
11,338,527


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
10,419,956
11,121,032

Rest of Europe
218,444
198,164

Rest of the World
30,326
19,331

10,668,726
11,338,527


Page 18

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation of tangible fixed assets
85,783
74,576

Amortisation of intangible assets
13,523
830

Profit on disposal of tangible fixed assets
(7,858)
(17,617)

Foreign exchange differences
(10,234)
(5,073)

Defined contribution pension cost
91,187
117,971

Operating lease rentals
415,291
360,297

Page 19

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Auditor's remuneration

2024
2023
£
£

Fees payable to the Company's auditor for the audit of the Company's financial statements
22,200
21,475







2024
2023
£
£
Fees payable to the Company's auditor in respect of:
Preparation of financial statements

2,400

2,310
 
Taxation compliance services

3,350

3,255
 
5,750

5,565
 


7.


Employees

Staff costs, including Directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
1,563,248
1,694,759

Social security costs
197,859
206,121

Pension costs
91,187
117,971

1,852,294
2,018,851


The average monthly number of employees, including the Directors, during the year was as follows:


        2024
        2023
            No.
            No.







Selling and distribution
21
22



Administration
12
13

33
35

Page 20

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
236,945
233,910

Pension costs
20,433
46,717

257,378
280,627


During the year retirement benefits were accruing to 2 Directors (2023 - 2) in respect of defined contribution pension schemes.

The highest paid Director received remuneration of £139,440 (2023 - £147,603).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid Director amounted to £8,979 (2023 - £8,633).


9.


Interest receivable

2024
2023
£
£


Bank interest receivable
37,705
32,096

37,705
32,096


10.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
217,017
291,442

Adjustments in respect of previous periods
(23,647)
-

Total current tax
193,370
291,442

Deferred tax


Origination and reversal of timing differences
(3,648)
-

Total deferred tax
(3,648)
-


Tax on profit
189,722
291,442
Page 21

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
10.Taxation (continued)


Factors affecting tax charge for the year/period

The tax assessed for the year/period is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 23.5%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
791,989
1,113,555


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.5%)
197,997
291,442

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
15,372
-

Adjustments to tax charge in respect of prior periods
(23,647)
-

Total tax charge for the year/period
189,722
291,442


Factors that may affect future tax charges

There were no factors that may affect future tax charges.




11.


Dividends

2024
2023
£
£


Dividends relating to ordinary shares
-
1,000,000

-
1,000,000

Page 22

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Intangible assets




Computer software

£



Cost


At 1 January 2024
125,528


Additions
7,120



At 31 December 2024

132,648



Amortisation


At 1 January 2024
950


Charge for the year on owned assets
13,523



At 31 December 2024

14,473



Net book value



At 31 December 2024
118,175



At 31 December 2023
124,578



Page 23

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Office equipment
Other fixed assets
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2024
74,404
397,284
220,814
390,818
78,941
1,162,261


Additions
-
-
68,037
-
18,861
86,898


Disposals
-
-
(26,174)
-
-
(26,174)



At 31 December 2024

74,404
397,284
262,677
390,818
97,802
1,222,985



Depreciation


At 1 January 2024
73,543
307,374
86,995
368,305
78,941
915,158


Charge for the year on owned assets
333
19,087
49,631
12,897
3,836
85,784


Disposals
-
-
(21,100)
-
-
(21,100)



At 31 December 2024

73,876
326,461
115,526
381,202
82,777
979,842



Net book value



At 31 December 2024
528
70,823
147,151
9,616
15,025
243,143



At 31 December 2023
861
89,910
133,819
22,513
-
247,103




14.


Stocks

2024
2023
£
£

Finished goods and goods for resale
1,354,786
1,424,725

1,354,786
1,424,725


Page 24

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

15.


Debtors

2024
2023
£
£


Trade debtors
1,943,332
2,199,417

Prepayments and accrued income
388,783
251,896

2,332,115
2,451,313



16.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,985,726
1,139,951

1,985,726
1,139,951



17.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
212,640
237,550

Amounts owed to group undertakings
46,071
46,324

Corporation tax
131,368
128,261

Other taxation and social security
182,929
176,816

Accruals and deferred income
1,117,392
1,057,441

1,690,400
1,646,392


Page 25

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

18.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



14,000 (2023 - 14,000) Ordinary A shares of £1.00 each
14,000
14,000
6,000 (2023 - 6,000) Ordinary B shares of £1.00 each
6,000
6,000

20,000

20,000



19.


Reserves

Share premium account

The share premium account represents the premium paid for shares above their nominal value. The share premium account is a non-distributable reserve.

Profit and loss account

The profit and loss account represents the accumulation of retained profits, net of dividends, which reflect distributable reserves.


20.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £91,187 (2023 - £117,971). Contributions totalling £7,616 (2023 - £8,467) were payable to the fund at the reporting date and are included in creditors.


21.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
425,344
434,875

Later than 1 year and not later than 5 years
-
425,344

425,344
860,219

Page 26

 
JOHN ARTIS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

22.


Related party transactions

During the year the Company made purchases totalling £400,940 (2023 - £373,464) from group members. During the year the Company made sales totalling £2,261 (2023 - £1,180) to group members. At the year end £nil (2023 - £46,324) was owed to group members and £nil (2023 - £1,180) was owed by group members.
 


23.


Ultimate parent company and controlling party

The immediate parent undertaking is BHS Tabletop AG, a company incorporated in Germany, who owns 100% of the share capital. This is the smallest group for which the results of the Company are consolidated.
The ultimate parent undertaking is Serafin GmbH, a company incorporated in Germany that indirectly owns 86.06% of the share capital of the Company. This is the largest group for which the results of the Company are consolidated.
The ultimate controlling party is Philipp Haindl who owns 100% of the share capital of Serafin GmbH.

 
Page 27