| REGISTERED NUMBER: 10547658 (England and Wales) |
| GROUP STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| FOR |
| JACKHO LIMITED |
| REGISTERED NUMBER: 10547658 (England and Wales) |
| GROUP STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| FOR |
| JACKHO LIMITED |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Group Strategic Report | 2 |
| Report of the Directors | 4 |
| Report of the Independent Auditors | 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 | 16 |
| JACKHO LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants & Statutory Auditor |
| Portland House |
| 11-13 Station Road |
| Kettering |
| Northamptonshire |
| NN15 7HH |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| GROUP STRATEGIC REPORT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| The directors present their strategic report of the company and the group for the year ended 30th September 2024. |
| REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS |
| Business Review |
| The trading element of the Jackho Group comprises Synergy Packaging Solutions and Atom Packaging. As a diversified group specialising in protective packaging, temperature-controlled packaging, and technical foams, offering design and manufacturing for every application. Serving a wide customer base on both B2B and B2C platforms through direct engagement with end users and an established network of distributors offering fast and effective delivery. |
| - Synergy Packaging Solutions: A solutions provider for design and manufacturing of all protective packaging goods. Also including Chilled Packaging: Specialist providers of temperature-controlled packaging products and solutions for industrial and food sectors. |
| - Atom Packaging: Producer of printed retail and POS paper and plastic carrier bags alongside general packaging goods. |
| Future Developments |
| As part of our strategic growth plan, we are undergoing a business restructure within departments designed to improve our route-to-market efficiency, streamline operations, and better align resources with high-growth opportunities. This will include the integration of new systems, future technologies, with an enhanced view to research and development, resource across sales, marketing, and operations to support scalability and speed to market also offering a design Studio arm to the business to offer branding design. |
| We are placing focus on enhancing our digital presence and brand visibility, with a revitalised approach to marketing, content creation, and social media engagement. This digital transformation is aimed at positioning Jackho Group as the go-to provider for innovative packaging and foam solutions across all industries. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The principal risks and uncertainties facing the company are: |
| MATERIAL AND REGULATORY |
| All industries and sectors faced uncertainties in supply chain combined with increasing raw materials and energy costs. This has been further exacerbated by both the introduction of the plastic packaging Tax (PPT) and Covid pandemic variations. The PPT affected customer confidence because of the potential for additional cost, administration and implementation. Diversification of suppliers, improved forecasting and increased stockholding ensured output while many competitors suffered shortages. The PPT was implemented by the business with an insignificant or no effect for customers. This was achieved by working with suppliers and moving to 30% recycled content materials. |
| CREDIT AND CASH FLOW RISK |
| The company has a large client base and operates in a number of industry sectors that all help to reduce its credit risk. Appropriate policies such as stage payments and credit profiling, help reduce the risk further. |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| GROUP STRATEGIC REPORT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| FINANCIAL KEY PERFORMANCE INDICATORS |
| The directors have monitored the progress and profit of the company, by reference to certain key performance indicators: |
| -Turnover of £8m (2023: £8m) |
| -Profit before taxation of £522k (2023: £506k) |
| ON BEHALF OF THE BOARD: |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| The directors present their report with the financial statements of the company and the group for the year ended 30th September 2024. |
| DIVIDENDS |
| The total distribution of dividends for the year ended 30th September 2024 will be £233,368. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1st October 2023 to the date of this report. |
| DISCLOSURE IN THE STRATEGIC REPORT |
| The report of the directors should be read in conjunction with the strategic report. |
| 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; |
| - | 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. |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| AUDITORS |
| The auditors, Bewers Turner & Co LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| JACKHO LIMITED |
| Opinion |
| We have audited the financial statements of Jackho Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30th 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 30th 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 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 |
| JACKHO 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 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. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| JACKHO 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: |
| Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud |
| 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. |
| - We obtained an understanding of the legal and regulatory frameworks that are applicable to the Group and Parent Company and determined that the most significant are those that relate to the reporting framework (Financial Reporting Standard 102 and the Companies Act 2006) and the relevant direct and indirect tax compliance regulation in the United Kingdom. In addition, the Group and Parent Company has to comply with laws and regulations relating to its operations and health and safety. |
| - We understood how the Group and Parent Company is complying with those frameworks by making enquiries of management to understand how the Group and Parent Company maintains and communicates its policies and procedures in these areas, and corroborated this by reviewing supporting documentation. |
| - We assessed the susceptibility of the Group and Parent Company's financial statements to material misstatement, including how fraud might occur by considering the risk of management override and determining revenue to be a fraud risk. We tested transactions identified back to independent evidence or source documentation. We obtained third party confirmations directly from the Group and Parent Company's banking partners to verify the cash held at the balance sheet date and the completeness of any commitments or contingencies. |
| - Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved review of documentation, testing of specific journals identified based upon risk criteria and enquiries of management for correspondence with the relevant authorities. |
| 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 Report of the Auditors. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| JACKHO 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 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. |
| for and on behalf of |
| Chartered Accountants & Statutory Auditor |
| Portland House |
| 11-13 Station Road |
| Kettering |
| Northamptonshire |
| NN15 7HH |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| CONSOLIDATED |
| STATEMENT OF INCOME AND |
| RETAINED EARNINGS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| TURNOVER | 3 | 8,002,095 | 7,797,221 |
| Cost of sales | 5,470,930 | 5,442,653 |
| GROSS PROFIT | 2,531,165 | 2,354,568 |
| Administrative expenses | 1,990,410 | 1,830,906 |
| 540,755 | 523,662 |
| Other operating income | 452 | 546 |
| OPERATING PROFIT | 5 | 541,207 | 524,208 |
| Interest receivable and similar income | 4,782 | 492 |
| 545,989 | 524,700 |
| Interest payable and similar expenses | 6 | 24,057 | 18,870 |
| PROFIT BEFORE TAXATION | 521,932 | 505,830 |
| Tax on profit | 7 | 175,402 | 146,034 |
| PROFIT FOR THE FINANCIAL YEAR |
| Retained earnings at beginning of year | 3,077,944 | 2,951,519 |
| Dividends | 9 | (233,368 | ) | (233,371 | ) |
| RETAINED EARNINGS FOR THE GROUP AT END OF YEAR |
3,191,106 |
3,077,944 |
| Profit attributable to: |
| Owners of the parent | 346,530 | 359,796 |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| CONSOLIDATED BALANCE SHEET |
| 30TH SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 10 | 2,423,795 | 2,560,876 |
| Tangible assets | 11 | 1,772,646 | 1,767,302 |
| 4,196,441 | 4,328,178 |
| CURRENT ASSETS |
| Stocks | 12 | 446,206 | 526,206 |
| Debtors | 13 | 1,707,377 | 1,643,438 |
| Cash at bank and in hand | 714,992 | 683,919 |
| 2,868,575 | 2,853,563 |
| CREDITORS |
| Amounts falling due within one year | 15 | 1,334,658 | 1,505,056 |
| NET CURRENT ASSETS | 1,533,917 | 1,348,507 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
5,730,358 |
5,676,685 |
| CREDITORS |
| Amounts falling due after more than one year |
16 |
(353,557 |
) |
(408,699 |
) |
| PROVISIONS FOR LIABILITIES | 20 | (142,695 | ) | (147,042 | ) |
| NET ASSETS | 5,234,106 | 5,120,944 |
| CAPITAL AND RESERVES |
| Called up share capital | 21 | 2,043,000 | 2,043,000 |
| Retained earnings | 22 | 3,191,106 | 3,077,944 |
| SHAREHOLDERS' FUNDS | 5,234,106 | 5,120,944 |
| The financial statements were approved by the Board of Directors and authorised for issue on 25th June 2025 and were signed on its behalf by: |
| Mr J A Harris - Director |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| COMPANY BALANCE SHEET |
| 30TH SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 10 |
| Tangible assets | 11 |
| CURRENT ASSETS |
| Debtors | 13 |
| Investments | 14 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 15 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 20 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 21 |
| Retained earnings | 22 |
| SHAREHOLDERS' FUNDS |
| Company's profit for the financial year | 228,123 | 528,083 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | 601,699 | 958,228 |
| Interest paid | (23,624 | ) | (18,870 | ) |
| Interest element of hire purchase payments paid |
(433 |
) |
- |
| Tax paid | (123,616 | ) | (173,258 | ) |
| Net cash from operating activities | 454,026 | 766,100 |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | (142,051 | ) | (187,437 | ) |
| Purchase of business property | - | (328,956 | ) |
| Sale of tangible fixed assets | 75,310 | 33,501 |
| Interest received | 4,782 | 492 |
| Net cash from investing activities | (61,959 | ) | (482,400 | ) |
| Cash flows from financing activities |
| Receipts and repayments from borrowings | (126,630 | ) | (93,131 | ) |
| Capital repayments of HP in year | (996 | ) | - |
| Equity dividends paid | (233,368 | ) | (233,371 | ) |
| Net cash from financing activities | (360,994 | ) | (326,502 | ) |
| Increase/(decrease) in cash and cash equivalents | 31,073 | (42,802 | ) |
| Cash and cash equivalents at beginning of year |
2 |
683,919 |
726,721 |
| Cash and cash equivalents at end of year |
2 |
714,992 |
683,919 |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2024 | 2023 |
| £ | £ |
| Profit before taxation | 521,932 | 505,830 |
| Depreciation charges | 264,447 | 256,182 |
| Profit on disposal of fixed assets | (31,168 | ) | (16,010 | ) |
| Finance costs | 24,057 | 18,870 |
| Finance income | (4,782 | ) | (492 | ) |
| 774,486 | 764,380 |
| Decrease/(increase) in stocks | 80,000 | (66,192 | ) |
| Increase in trade and other debtors | (63,939 | ) | (60,733 | ) |
| (Decrease)/increase in trade and other creditors | (188,848 | ) | 320,773 |
| Cash generated from operations | 601,699 | 958,228 |
| 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 30th September 2024 |
| 30/9/24 | 1/10/23 |
| £ | £ |
| Cash and cash equivalents | 714,992 | 683,919 |
| Year ended 30th September 2023 |
| 30/9/23 | 1/10/22 |
| £ | £ |
| Cash and cash equivalents | 683,919 | 726,721 |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| Non cash |
| At 1/10/23 | Cash flow | changes | At 30/9/24 |
| £ | £ | £ | £ |
| Net cash |
| Cash at bank |
| and in hand | 683,919 | 31,073 | - | 714,992 |
| 683,919 | 31,073 | - | 714,992 |
| Debt |
| Finance leases | - | 996 | (34,800 | ) | (33,804 | ) |
| Debts falling due |
| within 1 year | (60,774 | ) | 43,737 | - | (17,037 | ) |
| Debts falling due |
| after 1 year | (408,699 | ) | 82,892 | - | (325,807 | ) |
| (469,473 | ) | 127,625 | (34,800 | ) | (376,648 | ) |
| Total | 214,446 | 158,698 | (34,800 | ) | 338,344 |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Jackho Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Basis of consolidation |
| The consolidated financial statements incorporate the financial statements of the company and all group undertakings. Acquisitions are accounted for using the purchase method, after first making adjustments to the fair value of assets and liabilities acquired. Any difference between the fair value of consideration paid and the fair value of net assets acquired is capitalised as goodwill on consolidation. |
| Significant judgements and estimates |
| In the process of applying the group's accounting policies, management has made no significant judgements which have a significant effect on the amounts recognised in the financial statements or made any significant estimates that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| The goodwill arises on the consolidation of the group and is being amortised over an estimated useful economic life of twenty five 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 |
| Freehold property | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| 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. |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term,whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period.The capital element of the future payments is treated as a liability. |
| 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. |
| An analysis of turnover by geographical market is given below: |
| 2024 | 2023 |
| £ | £ |
| United Kingdom | 7,796,608 | 7,597,135 |
| Europe | 205,487 | 200,086 |
| 8,002,095 | 7,797,221 |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 4. | EMPLOYEES AND DIRECTORS |
| 2024 | 2023 |
| £ | £ |
| Wages and salaries | 1,781,730 | 1,689,515 |
| Social security costs | 150,506 | 150,713 |
| Other pension costs | 26,735 | 26,535 |
| 1,958,971 | 1,866,763 |
| The average number of employees during the year was as follows: |
| 2024 | 2023 |
| Directors | 2 | 3 |
| Administration | 17 | 16 |
| Production | 29 | 29 |
| Sales | 5 | 8 |
| 2024 | 2023 |
| £ | £ |
| Directors' remuneration | 21,550 | 19,759 |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging/(crediting): |
| 2024 | 2023 |
| £ | £ |
| Other operating leases | 218,011 | 224,325 |
| Depreciation - owned assets | 127,365 | 121,831 |
| Profit on disposal of fixed assets | (31,168 | ) | (16,010 | ) |
| Goodwill amortisation | 137,081 | 135,008 |
| Auditors' remuneration | 6,000 | 6,000 |
| Foreign exchange differences | 4,512 | 929 |
| 6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 2024 | 2023 |
| £ | £ |
| Bank loan interest | 16,071 | 18,870 |
| Other interest payable | 7,553 | - |
| Hire purchase | 433 | - |
| 24,057 | 18,870 |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 7. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2024 | 2023 |
| £ | £ |
| Current tax: |
| UK corporation tax | 179,747 | 118,347 |
| (Over)/under provision in |
| prior year | 2 | 1 |
| Total current tax | 179,749 | 118,348 |
| Deferred tax | (4,347 | ) | 27,686 |
| Tax on profit | 175,402 | 146,034 |
| 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: |
| 2024 | 2023 |
| £ | £ |
| Profit before tax | 521,932 | 505,830 |
| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 22.010 %) |
130,483 |
111,333 |
| Effects of: |
| Permanent differences | 44,919 | 34,701 |
| Total tax charge | 175,402 | 146,034 |
| 8. | 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. |
| 9. | DIVIDENDS |
| 2024 | 2023 |
| £ | £ |
| Interim | 233,368 | 233,371 |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 10. | INTANGIBLE FIXED ASSETS |
| Group |
| Goodwill |
| £ |
| COST |
| At 1st October 2023 |
| and 30th September 2024 | 3,427,022 |
| AMORTISATION |
| At 1st October 2023 | 866,146 |
| Amortisation for year | 137,081 |
| At 30th September 2024 | 1,003,227 |
| NET BOOK VALUE |
| At 30th September 2024 | 2,423,795 |
| At 30th September 2023 | 2,560,876 |
| Company |
| Goodwill |
| £ |
| COST |
| At 1st October 2023 |
| and 30th September 2024 |
| AMORTISATION |
| At 1st October 2023 |
| Amortisation for year |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 11. | TANGIBLE FIXED ASSETS |
| Group |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| COST |
| At 1st October 2023 | 1,168,491 | 41,787 | 541,432 |
| Additions | - | 5,984 | 17,550 |
| Disposals | - | - | (35,046 | ) |
| At 30th September 2024 | 1,168,491 | 47,771 | 523,936 |
| DEPRECIATION |
| At 1st October 2023 | 45,571 | 22,511 | 134,827 |
| Charge for year | 14,022 | 10,820 | 41,354 |
| Eliminated on disposal | - | - | (16,517 | ) |
| At 30th September 2024 | 59,593 | 33,331 | 159,664 |
| NET BOOK VALUE |
| At 30th September 2024 | 1,108,898 | 14,440 | 364,272 |
| At 30th September 2023 | 1,122,920 | 19,276 | 406,605 |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st October 2023 | 107,949 | 249,569 | 53,938 | 2,163,166 |
| Additions | 61,873 | 87,250 | 4,194 | 176,851 |
| Disposals | (5,348 | ) | (50,890 | ) | - | (91,284 | ) |
| At 30th September 2024 | 164,474 | 285,929 | 58,132 | 2,248,733 |
| DEPRECIATION |
| At 1st October 2023 | 50,469 | 113,123 | 29,363 | 395,864 |
| Charge for year | 11,572 | 42,701 | 6,896 | 127,365 |
| Eliminated on disposal | (1,639 | ) | (28,986 | ) | - | (47,142 | ) |
| At 30th September 2024 | 60,402 | 126,838 | 36,259 | 476,087 |
| NET BOOK VALUE |
| At 30th September 2024 | 104,072 | 159,091 | 21,873 | 1,772,646 |
| At 30th September 2023 | 57,480 | 136,446 | 24,575 | 1,767,302 |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 11. | TANGIBLE FIXED ASSETS - continued |
| Company |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1st October 2023 |
| Disposals | ( |
) | ( |
) |
| At 30th September 2024 |
| DEPRECIATION |
| At 1st October 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| 12. | STOCKS |
| Group |
| 2024 | 2023 |
| £ | £ |
| Stocks | 446,206 | 526,206 |
| 13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Trade debtors | 1,443,293 | 1,389,821 |
| Amounts owed by group undertakings | - | - |
| Other debtors | 500 | - |
| PAYE and NIC | 202 | 202 | 202 | 202 |
| Other debtors | 70,000 | 70,000 |
| Prepayments | 193,382 | 183,415 |
| 1,707,377 | 1,643,438 |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 14. | CURRENT ASSET INVESTMENTS |
| Company |
| 2024 | 2023 |
| £ | £ |
| Shares in group undertakings |
| At the balance sheet date, the company owns 100% of the total share capital of the companies listed |
| below. |
| Synergy Packaging Solutions Limited - Manufacture of plastic packaging |
| Registered office: Synergy Packaging, Shelton Road, Corby, Northamptonshire, NN17 5XH |
| Jackho Propco Limited - Property management |
| Registered office: Synergy Packaging, Shelton Road, Corby, Northamptonshire, NN17 5XH |
| Atom Packaging - Manufacture of plastic packaging |
| Registered office: Unit 22 Mackley Industrial Estate, Henfield Road, Small Dole, Henfield, West Sussex, BN5 9XR |
| 15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Bank loans and overdrafts (see note 17) | 17,037 | 60,774 |
| Hire purchase contracts (see note 18) | 6,054 | - |
| Trade creditors | 583,267 | 815,450 |
| Trade debtors - credit balance | 54,889 | 48,090 | - | - |
| Amounts owed to group undertakings | - | - |
| Corporation tax | 185,083 | 128,950 |
| PAYE and NIC | 40,535 | 63,662 |
| VAT | 182,684 | 156,804 | 5,413 | 5,400 |
| Other creditors | 2,172 | 8,827 |
| Wages creditor | 111,127 | 95,711 | - | 1,592 |
| Pension creditor | 5,182 | 4,580 | - | - |
| Directors' current accounts | 66,800 | 36,707 | 36,800 | 36,707 |
| Accrued expenses | 79,828 | 85,501 |
| 1,334,658 | 1,505,056 |
| 16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| Group |
| 2024 | 2023 |
| £ | £ |
| Bank loans (see note 17) | 325,807 | 408,699 |
| Hire purchase contracts (see note 18) | 27,750 | - |
| 353,557 | 408,699 |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 17. | LOANS |
| An analysis of the maturity of loans is given below: |
| Group |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year or | on demand: |
| Bank loans | 17,037 | 60,774 |
| Amounts falling due between one and | two years: |
| Bank loans - 1-2 years | 17,588 | 84,146 |
| Amounts falling due between two and | five years: |
| Bank loans - 2-5 years | 56,254 | 54,098 |
| Amounts falling due in more than five | years: |
| Repayable by instalments |
| Bank loans more than 5 years |
| by instalment | 251,965 | 270,455 |
| 251,965 | 270,455 |
| 18. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Group |
| Hire purchase | contracts |
| 2024 | 2023 |
| £ | £ |
| Net obligations repayable: |
| Within one year | 6,054 | - |
| Between one and five years | 27,750 | - |
| 33,804 | - |
| Group |
| Non-cancellable | operating leases |
| 2024 | 2023 |
| £ | £ |
| Within one year | 21,297 | 23,250 |
| Between one and five years | - | 31,868 |
| 21,297 | 55,118 |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 19. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| Group |
| 2024 | 2023 |
| £ | £ |
| Bank loans | 342,844 | 357,806 |
| Lloyds Bank PLC has a charge registered against the assets of the company in relation to an Omnibus Guarantee and Set-Off Agreement between the group companies. |
| 20. | PROVISIONS FOR LIABILITIES |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Deferred tax | 142,695 | 147,042 | 15,008 | 19,653 |
| Group |
| Deferred |
| tax |
| £ |
| Balance at 1st October 2023 | 147,042 |
| Credit to Income Statement during year | (4,347 | ) |
| Balance at 30th September 2024 | 142,695 |
| Company |
| Deferred |
| tax |
| £ |
| Balance at 1st October 2023 |
| Current year movement | (4,645 | ) |
| Balance at 30th September 2024 |
| 21. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 2,043,000 | 2,043,000 |
| The ordinary shares have full voting and dividend rights, and full entitlement to assets on winding up. |
| JACKHO LIMITED (REGISTERED NUMBER: 10547658) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 22. | RESERVES |
| Group |
| Retained |
| earnings |
| £ |
| At 1st October 2023 | 3,077,944 |
| Profit for the year | 346,530 |
| Dividends | (233,368 | ) |
| At 30th September 2024 | 3,191,106 |
| Company |
| Retained |
| earnings |
| £ |
| At 1st October 2023 |
| Profit for the year |
| Dividends | ( |
) |
| At 30th September 2024 |
| Retained earnings |
| Retained earnings represent cumulative profits net of dividends paid. |
| 23. | PENSION COMMITMENTS |
| The group operates a defined contribution pension plan for its employees. The amount recognised as an expense in the year was £66,735 (2023: £26,614). |
| 24. | ULTIMATE PARENT COMPANY |
| Jackho Limited is the ultimate parent company and prepares the only consolidated financial statements for its group. |
| 25. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At the balance sheet date, the company owed J Harris £66,787 (2023: £36,694) and A Kelly £13 (2023: £13). The amounts are repayable on demand and no interest is charged. |
| 26. | ULTIMATE CONTROLLING PARTY |
| The controlling party is J A Harris. |