Company registration number 12070678 (England and Wales)
JR HOLDINGS GROUP LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
JR HOLDINGS GROUP LTD
CONTENTS
Page
Group balance sheet
1 - 2
Company balance sheet
3 - 4
Notes to the financial statements
5 - 22
JR HOLDINGS GROUP LTD
GROUP BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
FIXED ASSETS
Intangible assets
3
(242,968)
(485,939)
Tangible assets
4
2,941,327
2,959,604
2,698,359
2,473,665
CURRENT ASSETS
Stocks
743,663
987,514
Debtors
7
1,615,221
1,614,905
Cash at bank and in hand
76,406
3,803
2,435,290
2,606,222
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
8
(1,566,171)
(1,466,194)
NET CURRENT ASSETS
869,119
1,140,028
TOTAL ASSETS LESS CURRENT LIABILITIES
3,567,478
3,613,693
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
10
(362,949)
(435,613)
PROVISIONS FOR LIABILITIES
(213,858)
(265,160)
NET ASSETS EXCLUDING PENSION LIABILITY
(2,990,671)
(2,912,920)
DEFINED BENEFIT PENSION LIABILITY
13
(197,000)
(294,000)
NET ASSETS
2,793,671
2,618,920
CAPITAL AND RESERVES
Called up share capital
100,100
100,100
Profit and loss reserves
2,693,571
2,518,820
TOTAL EQUITY
2,793,671
2,618,920

The directors of the group have elected not to include a copy of the profit and loss account within the financial statements.

JR HOLDINGS GROUP LTD
GROUP BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 2024 the group was entitled to exemption from audit under section 477 of the Companies Act 2006.

Directors' responsibilities under the Companies Act 2006:

 

These financial statements have been prepared in accordance with the provisions applicable to groups and companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 18 June 2025 and are signed on its behalf by:
18 June 2025
Mrs L Cook
Director
Company registration number 12070678 (England and Wales)
JR HOLDINGS GROUP LTD
COMPANY BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 3 -
2024
2023
Notes
£
£
FIXED ASSETS
Investments
5
1,572,662
1,572,662
CURRENT ASSETS
Debtors
7
2,473,022
2,486,022
Cash at bank and in hand
6,725
-
0
2,479,747
2,486,022
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
8
(1,577,120)
(1,402,479)
NET CURRENT ASSETS
902,627
1,083,543
TOTAL ASSETS LESS CURRENT LIABILITIES
2,475,289
2,656,205
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
10
(277,810)
(344,470)
NET ASSETS
2,197,479
2,311,735
CAPITAL AND RESERVES
Called up share capital
100,100
100,100
Profit and loss reserves
2,097,379
2,211,635
TOTAL EQUITY
2,197,479
2,311,735

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £153,334 (2023 - £148,238 profit).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

JR HOLDINGS GROUP LTD
COMPANY BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 4 -

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 18 June 2025 and are signed on its behalf by:
18 June 2025
Mrs L Cook
Director
Company registration number 12070678 (England and Wales)
JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
1
ACCOUNTING POLICIES
Company information

JR Holdings Group Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 25, Somerset Industrial Estate, Cwmbran, NP44 1QX.

 

The group consists of JR Holdings Group Ltd and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 6 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company JR Holdings Group Ltd together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 30 September 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

 

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

 

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 7 -
1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 6 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2.5% - 4% straight line
Plant and equipment
7.5% - 12.5% straight line
Fixtures and fittings
7.5% - 20% straight line
Motor vehicles
10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.7
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 8 -

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

 

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

 

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

 

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 9 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11
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.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

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 receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 10 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 group after deducting all of its liabilities.

JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 11 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments 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 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 method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 12 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The cost of providing benefits under defined benefit plans is determined separately for each plan using the projected unit credit method, and is based on actuarial advice.

 

The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as an expense in measuring profit or loss in the period in which they arise.

The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in profit or loss as other finance revenue or cost.

 

Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognised immediately in other comprehensive income in the period in which they occur and are not reclassified to profit and loss in subsequent periods.

JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 13 -

The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

1.16
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.17
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
EMPLOYEES

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Total
58
59
-
0
-
0
3
INTANGIBLE FIXED ASSETS
Group
Goodwill
JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
3
INTANGIBLE FIXED ASSETS
(Continued)
- 14 -
£
Cost
At 1 October 2023 and 30 September 2024
(1,457,823)
Amortisation and impairment
At 1 October 2023
(971,884)
Amortisation charged for the year
(242,971)
At 30 September 2024
(1,214,855)
Carrying amount
At 30 September 2024
(242,968)
At 30 September 2023
(485,939)
The company had no intangible fixed assets at 30 September 2024 or 30 September 2023.
4
TANGIBLE FIXED ASSETS
Group
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2023
2,050,000
4,428,837
6,478,837
Additions
-
0
96,390
96,390
At 30 September 2024
2,050,000
4,525,227
6,575,227
Depreciation and impairment
At 1 October 2023
157,728
3,361,505
3,519,233
Depreciation charged in the year
39,432
75,235
114,667
At 30 September 2024
197,160
3,436,740
3,633,900
Carrying amount
At 30 September 2024
1,852,840
1,088,487
2,941,327
At 30 September 2023
1,892,272
1,067,332
2,959,604
The company had no tangible fixed assets at 30 September 2024 or 30 September 2023.
JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 15 -
5
FIXED ASSET INVESTMENTS
Group
Company
2024
2023
2024
2023
£
£
£
£
Shares in group undertakings and participating interests
-
-
1,572,662
1,572,662
MOVEMENTS IN FIXED ASSET INVESTMENTS
Company
Shares in subsidiaries
£
Cost or valuation
At 1 October 2023 and 30 September 2024
1,572,662
Carrying amount
At 30 September 2024
1,572,662
At 30 September 2023
1,572,662
6
SUBSIDIARIES

Details of the company's subsidiaries at 30 September 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Just Holdings Ltd
Somerset Industrial Estate, Cwmbran, Gwent, NP44 1QX
Ordinary
100.00
Just Rollers Ltd
Somerset Industrial Estate, Cwmbran, Gwent, NP44 1QX
Ordinary
100.00
Just Polymer Compounds Ltd
Somerset Industrial Estate, Cwmbran, Gwent, NP44 1QX
Ordinary
100.00
Just Urethane Ltd
Somerset Industrial Estate, Cwmbran, Gwent, NP44 1QX
Ordinary
100.00
JR (1990) Ltd
Somerset Industrial Estate, Cwmbran, Gwent, NP44 1QX
Ordinary
100.00

JR Holdings Group Ltd acquired 100% of the share capital of Just Holdings Ltd on 22nd November 2019. Negative goodwill was acquired and will be amortised over 6 years

JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 16 -
7
DEBTORS
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,378,112
1,476,689
-
0
-
0
Amounts owed by group
-
-
2,472,922
2,485,922
Other debtors
165,769
138,216
100
100
1,543,881
1,614,905
2,473,022
2,486,022
Deferred tax asset
71,340
-
-
-
1,615,221
1,614,905
2,473,022
2,486,022
8
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans and overdrafts
750,576
556,021
66,660
66,669
Trade creditors
471,028
484,804
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
1,510,460
1,335,810
Taxation and social security
42,763
50,107
-
0
-
0
Other creditors
301,804
375,262
-
0
-
0
1,566,171
1,466,194
1,577,120
1,402,479
9
LOANS AND OVERDRAFTS
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
344,470
411,130
344,470
411,130
Bank overdrafts
683,916
489,361
-
0
9
1,028,386
900,491
344,470
411,139
Payable within one year
750,576
556,021
66,660
66,669
Payable after one year
277,810
344,470
277,810
344,470
JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
9
LOANS AND OVERDRAFTS
(Continued)
- 17 -

The long-term loans are secured by fixed charges over the assets of the group.

10
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
277,810
344,470
277,810
344,470
Other creditors
85,139
91,143
-
0
-
0
362,949
435,613
277,810
344,470
11
FINANCE LEASE OBLIGATIONS
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
28,713
27,162
-
0
-
0
In two to five years
62,431
91,143
-
0
-
0
91,144
118,305
-
-

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

12
GOVERNMENT GRANTS
Group
Company
2024
2023
2024
2023
£
£
£
£
Arising from government grants
23,958
-
-
-
JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
12
GOVERNMENT GRANTS
(Continued)
- 18 -

Deferred income is included in the financial statements as follows:

Current liabilities
1,250
-
0
-
0
-
0
Non-current liabilities
22,708
-
0
-
0
-
0
23,958
-
-
-
13
RETIREMENT BENEFIT SCHEMES
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
187,266
166,654

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

Defined benefit schemes

The Group operates a Defined Benefit Pension Scheme.

 

The contributions are determined by a qualified actuary on the basis of triennial valuations using the attained age method of funding. The most recent full valuation was carried out as at 18 October 2024 by Lewis Lamonby of Broadstone Corporate Benefits Limited, a qualified independent actuary. The valuation results show the principal actuarial assumptions adopted in the valuation were that the long term annual rate of return on investments would be 5.65% pre retirement 5.25% post retirement and the annual increase in pensionable salaries would be 1%. The actuarial value of assets of the scheme was sufficient to cover 95% of the benefits that had accrued to members after allowing for the expected future increases in pensionable remuneration. The actuarial valuation of the assets of the scheme at the date of the actuarial valuation was £8,801,000.

 

The company contribution during the year was £242,000 (2023: £242,000). Company policy is to take actuarial advice and to try and vary contribution rates as necessary to ensure the unfunded liabilities estimated over a reasonable period of time.

 

The scheme is closed to new members. Existing members continue to accrue benefits under the scheme and the service cost for these members will increase as they approach retirement.

JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
13
RETIREMENT BENEFIT SCHEMES
(Continued)
- 19 -
2024
2023
Key assumptions
%
%
Discount rate
5.25
5.65
Expected rate of increase of pensions in payment
2.55
2.80
Expected rate of salary increases
1.00
1.00
Inflation assumption
3.20
3.40
Mortality assumptions
2024
2023

Assumed life expectations on retirement at age 65:

Years
Years
Retiring today
- Males
21.5
22.2
- Females
23.9
24.4
Retiring in 20 years
- Males
23.1
23.8
- Females
25.3
25.8

The amounts included in the balance sheet arising from obligations in respect of defined benefit plans are as follows:

2024
2023
Group
£
£
Present value of defined benefit obligations
8,998,000
8,481,000
Fair value of plan assets
(8,801,000)
(8,187,000)
Deficit in scheme
197,000
294,000
The company had no post employment benefits at 30 September 2024 or 1 October 2023.
JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
13
RETIREMENT BENEFIT SCHEMES
(Continued)
- 20 -
Group
2024
2023
Amounts recognised in the profit and loss account
£
£
Costs/(income):
Current service cost
47,000
41,000
Net interest on net defined benefit liability/(asset)
9,000
(1,000)
Other costs and income
(5,000)
-
Total costs
51,000
40,000
Group
2024
2023
Amounts recognised in other comprehensive income
£
£
Costs/(income):
Actual return on scheme assets
89,000
375,000
Less: calculated interest element
-
-
Return on scheme assets excluding interest income
89,000
375,000
Other gains and losses
(461,000)
466,000
Total costs/(income)
(372,000)
841,000
Group
2024
Movements in the present value of defined benefit obligations
Liabilities at 1 October 2023
8,947,000
Current service cost
47,000
Interest cost
9,000
Other
(5,000)
At 30 September 2024
8,998,000

The defined benefit obligations arise from plans which are wholly or partly funded.

JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
13
RETIREMENT BENEFIT SCHEMES
(Continued)
- 21 -
Group
2024
Movements in the fair value of plan assets
£
Fair value of assets at 1 October 2023
8,187,000
Return on plan assets (excluding amounts included in net interest)
(89,000)
Contributions by the employer
242,000
Other
461,000
At 30 September 2024
8,801,000
Group
2024
Movement in reimbursement rights recognised as an asset
£
At 1 October 2023
8,481,000
Current service cost
47,000
Interest expenses less benefit paid
111,000
Contributions by plan participants
22,000
Gains and losses on settlements and curtailments
337,000
At 30 September 2024
8,998,000

The actual return on plan assets was £-89000 (2023 - £-375000).

Group
2024
2023
Fair value of plan assets
£
£
Equity instruments
1,524,000
1,682,000
Property
748,000
739,000
Cash and cash equivalents
92,000
53,000
LDI
3,512,000
3,100,000
Bonds
2,925,000
2,613,000
8,801,000
8,187,000
JR HOLDINGS GROUP LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 22 -
14
OPERATING LEASE COMMITMENTS

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

Group
Company
2024
2023
2024
2023
£
£
£
£
432,128
392,172
-
-
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