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Company Registration Number 13193635























JOHN ROBERTS SOLUTIONS LIMITED





FINANCIAL STATEMENTS





 31 DECEMBER 2024
























img6c7d.png

 
JOHN ROBERTS SOLUTIONS LIMITED
 

COMPANY INFORMATION


Directors
S Littlewood 
C Beresford 
J Smith 




Registered number
13193635



Registered office
Christies High Mill
Langcliffe

Settle

North Yorkshire

BD24 9LX




Independent auditors
Armstrong Watson Audit Limited
Chartered Accountants & Statutory Auditors

Number 3 Acorn Business Park,

Keighley Rd

Skipton

West Yorkshire

BD23 2UE




Bankers
Santander UK plc
Regent's Place

London

United Kingdom

NW1 3AN





 
JOHN ROBERTS SOLUTIONS LIMITED
 

CONTENTS



Page
Group Strategic Report
 
1 - 2
Directors' Report
 
3 - 4
Independent Auditors' Report
 
5 - 8
Consolidated Statement of Comprehensive Income
 
9
Consolidated Statement of Financial Position
 
10
Company Statement of Financial Position
 
11
Consolidated Statement of Changes in Equity
 
12 - 13
Company Statement of Changes in Equity
 
14 - 15
Consolidated Statement of Cash Flows
 
16 - 17
Consolidated Analysis of Net Debt
 
18
Notes to the Financial Statements
 
19 - 36


 
JOHN ROBERTS SOLUTIONS LIMITED
 

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction
 
The directors present the strategic report and financial statements for the period ended 31 December 2024.

Fair review of the business
 
The Company continues to make good progress with its ongoing business strategy, to strengthen its position as the market leader in the manufacture and supply of Converted Paper Packaging (CPP) products, with a focus towards margin sustainability and growth over incremental volume growth.
The results achieved demonstrate the ongoing positive impact of the above in a what proved to be a relatively stable market landscape, which following market wide paper price reductions in Q1 of 10-12%, saw little raw material price fluctuation through the year.
Operating and raw material purchasing flexibility continued to allow us to take advantage of specific opportunities presented for additional gross margin growth, which over the year delivered a gross RM contribution increase of 3.3% points over 2023, though due to other cost pressures the Gross Margin delivered was unchanged from 2023.
The above was as result of our ongoing strategy of targeting specific packaging sectors for both volume and margin growth with our increased variety of CPP products, whilst carefully managing our exposure to the mainstream Corrugated Sheet Board (CSB) product market. A policy which led to an overall 1.5% reduction in total volumes vs 2023 but saw 1.5% volume growth (to 71% of total volume) in the key CPP products.
Turnover was down by 8.3% on 2023 as a direct impact of the Q1 market price reductions, which alongside the challenges presented by inflationary cost pressure on many of the key direct and indirect cost lines, resulted in a 1.7% fall in Operating Profit as a % of Sales.
Similar market conditions are expected to continue through 2025 and onwards, with continued pressure on costs. In consequence, our ongoing plans and expectations focus on maintaining with our ongoing strategy as highlighted in the first paragraph, through retaining financial and operational flexibility to facilitate a speedy reaction to upward and or downward fluctuations across all paper packaging markets.
The Executive Management Team continue to develop and refine its multi-year business plan with the emphasis on developing its people, new product development, sustainability, customer relationships and thus further strengthening the resilience of the business from further swings in market demand.

Principal risks and uncertainties
 
The 2024 results again confirmed the business’s ability to adapt to varying market conditions, as previously demonstrated over the last 5 years. This is enabled through its ability to flex production and product focus, to maximise opportunity when circumstances allow. This robustness to perform in varied market conditions illustrates that the business remains well positioned to continue to develop and thrive.
Cash at bank comprises of bank balances and the carrying amounts approximate to fair value.
The credit risk on cash at bank is negligible as the counterparties are banks with high credit ratings. The company’s main risk relates to trade debtors, which are part of an invoice discounting arrangement. The company manages this risk through credit control procedures and where possible insures against such risks. The carrying amount for debtors is net of provision for doubtful debts.
Potential volatility in the economic climate and continued pressure on Labour costs and potentially fuel costs, along with the cyclical nature of pricing and demand within the paper industry, represent risks which need to be managed. The company operates within competitive markets but its balanced product offering and Management’s ability to react quickly to changing circumstances, result in the business being well positioned to adapt to change.

Page 1

 
JOHN ROBERTS SOLUTIONS LIMITED
 

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

Key performance indicators
 
The Group's key performance indicators in the year were as follows:

2024
2023
        £
        £
Turnover

14,109,092

15,388,655
 
Gross margin %

33

33
 
Profit before tax

1,319,783

1,698,441
 

Position of the business at the end of the year
 
Management are confident that the business is well positioned to deliver strong performance in the forthcoming year. The strategic changes implemented over the previous 6 years have ensured greater resilience to external factors and an enhanced opportunity for development, which have been supported by selective investment in new equipment, facilitating both increased capacity and the opportunity for new product ranges and markets to be explored in the short to mid-term.


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





................................................
S Littlewood
Director

Date: 25 June 2025

Page 2

 
JOHN ROBERTS SOLUTIONS 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' responsibilities statement

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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 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 for the Group's financial statements 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 Group 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 the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

The principal activity of the Company continued to be that of a holding company.
The principal activity of the Group was the manufacture of converted paper packaging and corrugated paper products.

Results and dividends

The profit for the year, after taxation, amounted to £985,458 (2023 - £1,227,389).

The directors have declared a final dividend of £100,000 on 31 January 2025.
In a relatively challenging cost inflationary market environment and with an 8.3% (£1.2m) fall in turnover caused by market initiated price £/tonne decreases, the business achieved positive gross contribution (% of Sales) growth which despite the unavoidable above normal increases in some key cost lines as a result of government/economic initiatives which heavily impact the manufacturing sector, the company successfully returned an Operating Profit of £1.37m only 1.7% down (% of Sales) vs 2023. 

Directors

The directors who served during the year were:

S Littlewood 
P Nelson (resigned 5 January 2024)
C Beresford 
J Smith 

Page 3

 
JOHN ROBERTS SOLUTIONS LIMITED
 

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

Disclosure of information to auditors

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 and the Group's auditors are 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 and the Group's auditors are aware of that information.

Auditors

Under section 487(2) of the Companies Act 2006Armstrong Watson Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

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





................................................
S Littlewood
Director

Date: 25 June 2025

Page 4

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JOHN ROBERTS SOLUTIONS LIMITED
 

Opinion


We have audited the financial statements of John Roberts Solutions Limited  (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of 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 Group's and of the parent Company's affairs as at 31 December 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 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 Group's or 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.


Page 5

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JOHN ROBERTS SOLUTIONS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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 Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

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


We have nothing to report in respect of the following matters 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 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 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 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.


Page 6

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JOHN ROBERTS SOLUTIONS LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

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

• We obtained an understanding of laws and regulations that affect the company, focusing on those that had a
direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation and occupational health and
employment legislation.
• We enquired of the directors of non-compliance with relevant laws and regulations. We also reviewed controls the directors have in place to ensure compliance.
• We gained an understanding of the controls that the directors have in place to prevent and detect fraud. We
enquired of the directors about any incidences of fraud that had taken place during the accounting period.
• The risk of fraud and non-compliance with laws and regulations was discussed within the audit team
and tests were planned and performed to address these risks.
• We reviewed financial statements disclosures and tested to supporting documentation to assess compliance
with relevant laws and regulations discussed above.
• We enquired of the directors and third-party advisors about actual and potential litigation and claims.
• We performed analytical procedures to identify any unusual or unexpected relationships that might indicate
risks of material misstatement due to fraud.
• In addressing the risk of fraud due to management override of internal controls we tested the appropriateness
of journal entries and assessed whether the judgements made in making accounting estimates were indicative
of a potential bias.


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 Auditors' Report.


Page 7

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JOHN ROBERTS SOLUTIONS 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 Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Rohan Day (Senior Statutory Auditor)
for and on behalf of
Armstrong Watson Audit Limited
Chartered Accountants
Statutory Auditors
Skipton

25 June 2025
Page 8

 
JOHN ROBERTS SOLUTIONS LIMITED
 

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
14,109,092
15,388,655

Cost of sales
  
(9,522,584)
(10,386,497)

Gross profit
  
4,586,508
5,002,158

Distribution costs
  
(1,307,679)
(1,294,189)

Administrative expenses
  
(1,904,674)
(1,949,207)

Operating profit
 5 
1,374,155
1,758,762

Interest payable and similar expenses
 9 
(54,372)
(60,321)

Profit before tax
  
1,319,783
1,698,441

Tax on profit
 10 
(334,325)
(471,052)

Profit for the financial year
  
985,458
1,227,389

Profit for the year attributable to:
  

Owners of the parent company
  
(985,458)
(1,227,389)

  
(985,458)
(1,227,389)

There were no recognised gains and losses for 2024 or 2023 other than those included in the consolidated statement of comprehensive income.

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

The notes on pages 19 to 36 form part of these financial statements.

Page 9

 
JOHN ROBERTS SOLUTIONS LIMITED
REGISTERED NUMBER: 13193635

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 13 
798,140
926,963

Tangible assets
 14 
1,470,839
1,499,953

  
2,268,979
2,426,916

Current assets
  

Stocks
 16 
592,381
543,095

Debtors: amounts falling due within one year
 17 
2,792,828
2,565,159

Cash at bank and in hand
 18 
322,959
63,925

  
3,708,168
3,172,179

Creditors: amounts falling due within one year
 19 
(3,037,132)
(3,006,620)

Net current assets
  
 
 
671,036
 
 
165,559

Total assets less current liabilities
  
2,940,015
2,592,475

Creditors: amounts falling due after more than one year
 20 
(606,031)
(143,123)

Provisions for liabilities
  

Deferred tax
 23 
(89,951)
(95,777)

  
 
 
(89,951)
 
 
(95,777)

Net assets
  
2,244,033
2,353,575


Capital and reserves
  

Called up share capital 
 24 
110,000
133,950

Capital redemption reserve
 25 
31,000
7,050

Profit and loss account
 25 
2,103,033
2,212,575

  
2,244,033
2,353,575


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




................................................
S Littlewood
Director

Date: 25 June 2025

The notes on pages 19 to 36 form part of these financial statements.

Page 10

 
JOHN ROBERTS SOLUTIONS LIMITED
REGISTERED NUMBER: 13193635

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 15 
4,585,572
4,585,572

  
4,585,572
4,585,572

Current assets
  

Debtors: amounts falling due within one year
 17 
1,758,306
458,693

Cash at bank and in hand
 18 
4,003
-

  
1,762,309
458,693

Creditors: amounts falling due within one year
 19 
(6,035,253)
(4,897,453)

Net current liabilities
  
 
 
(4,272,944)
 
 
(4,438,760)

Total assets less current liabilities
  
312,628
146,812

  

  

Net assets
  
312,628
146,812


Capital and reserves
  

Called up share capital 
 24 
110,000
133,950

Capital redemption reserve
 25 
31,000
7,050

Profit and loss account brought forward
  
5,812
1,976

Profit for the year
  
1,260,816
3,836

Other changes in the profit and loss account

  

(1,095,000)
-

Profit and loss account carried forward
  
171,628
5,812

  
312,628
146,812


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


................................................
S Littlewood
Director

Date: 25 June 2025

The notes on pages 19 to 36 form part of these financial statements.

Page 11

 
JOHN ROBERTS SOLUTIONS LIMITED
 

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


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2024
133,950
7,050
2,212,575
2,353,575


Comprehensive income for the year

Profit for the year
-
-
985,458
985,458


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(100,000)
(100,000)

Purchase of own shares
-
-
(995,000)
(995,000)

Shares redeemed during the year
(23,950)
-
-
(23,950)

Purchase of own shares
-
23,950
-
23,950


At 31 December 2024
110,000
31,000
2,103,033
2,244,033


The notes on pages 19 to 36 form part of these financial statements.

Page 12

 
JOHN ROBERTS SOLUTIONS LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
133,950
7,050
985,186
1,126,186


Comprehensive income for the year

Profit for the year
-
-
1,227,389
1,227,389


At 31 December 2023
133,950
7,050
2,212,575
2,353,575


The notes on pages 19 to 36 form part of these financial statements.

Page 13

 
JOHN ROBERTS SOLUTIONS LIMITED
 

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


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2024
133,950
7,050
5,812
146,812


Comprehensive income for the year

Profit for the year
-
-
1,260,816
1,260,816


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(100,000)
(100,000)

Purchase of own shares
-
-
(995,000)
(995,000)

Shares redeemed during the year
(23,950)
-
-
(23,950)

Purchase of own shares
-
23,950
-
23,950


At 31 December 2024
110,000
31,000
171,628
312,628


The notes on pages 19 to 36 form part of these financial statements.

Page 14

 
JOHN ROBERTS SOLUTIONS LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
133,950
7,050
1,976
142,976



Profit for the year
-
-
3,836
3,836


At 31 December 2023
133,950
7,050
5,812
146,812


The notes on pages 19 to 36 form part of these financial statements.

Page 15

 
JOHN ROBERTS SOLUTIONS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
985,458
1,227,389

Adjustments for:

Amortisation of intangible assets
128,823
128,823

Depreciation of tangible assets
131,370
172,970

Loss/(profit) on disposal of tangible assets
585
(500)

Interest paid
54,372
60,321

Taxation charge
334,325
471,052

(Increase)/decrease in stocks
(49,286)
171,024

(Increase)/decrease in debtors
(268,316)
802,957

(Decrease) in creditors
(123,725)
(965,203)

Corporation tax (paid)
(552,712)
(300,000)

Net cash generated from operating activities

640,894
1,768,833


Cash flows from investing activities

Purchase of tangible fixed assets
(104,341)
(139,747)

Sale of tangible fixed assets
1,499
500

HP interest paid
(5,251)
(5,251)

Net cash from investing activities

(108,093)
(144,498)

Cash flows from financing activities

Purchase of own shares
(995,000)
-

New secured loans
600,000
-

Repayment of loans
(585,531)
(201,992)

Repayment of other loans
-
(45,625)

Repayment of/new finance leases
(23,207)
(17,185)

Movements on invoice discounting
879,092
(1,441,281)

Dividends paid
(100,000)
-

Interest paid
(49,121)
(55,070)

Net cash used in financing activities
(273,767)
(1,761,153)

Net increase/(decrease) in cash and cash equivalents
259,034
(136,818)
Page 16

 
JOHN ROBERTS SOLUTIONS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024


2024
2023

£
£



Cash and cash equivalents at beginning of year
63,925
200,743

Cash and cash equivalents at the end of year
322,959
63,925


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
322,959
63,925

322,959
63,925


The notes on pages 19 to 36 form part of these financial statements.

Page 17

 
JOHN ROBERTS SOLUTIONS LIMITED
 

CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024





At 1 January 2024
Cash flows
Other non-cash changes
At 31 December 2024
£

£

£

£

Cash at bank and in hand

63,925

259,034

-

322,959

Invoice financing

40,645

(879,092)

-

(838,447)

Debt due after 1 year

-

-

(490,000)

(490,000)

Debt due within 1 year

(535,531)

(14,469)

490,000

(60,000)

Finance leases

(173,986)

23,207

-

(150,779)


(604,947)
(611,320)
-
(1,216,267)

The notes on pages 19 to 36 form part of these financial statements.

Page 18

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

John Roberts Solutions Limited is a private company limited by shares, domiciled and incorporated in England and Wales with registered number 13193635. 
The registered office and trading address of the company and group is Christies High Mill, Settle, North Yorkshire, BD24 9LX.
The functional currency of the Group and Company is Pounds Sterling as this is the currency of the primary economic environment which the Group and Company operates.
The principal activity of the Group is the manufacture of corregated paper. 

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 Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 January 2022.

  
2.3

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 show net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Page 19

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Going concern

The directors believe that the Group has adequate resources to continue in operational existence for a period of no less than 12 months from the approval of the financial statements.
In reaching their conclusion, the directors have considered their cash flows for a period of twelve months from the date of approval of the financial statements. In doing so the directors have considered the availability of funding, both externally and internally and have concluded that there is sufficient and substantial headroom within the Group’s working capital facilities throughout the year. 
After consideration of all factors, the directors continue adopt the going concern basis in preparing the financial statements.

 
2.5

Operating leases: the Group as lessee

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.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.

Page 20

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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 reporting date.


 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life.

Other 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.

 The estimated useful lives range as follows:

Goodwill
-
10
years

Page 21

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

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.

At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Group adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Group. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the method noted below per category.

Depreciation is provided on the following basis:

Freehold land and buildings
-
2%
straight line method
Plant and machinery
-
25%
- 33% reducing balance method
Motor vehicles
-
33%
reducing balance method
Fixtures and fittings
-
25%
-33% reducing balance method

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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
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 reporting 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.

Page 22

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
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.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Statement of Financial Position when the Group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.


 

Page 23

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.18

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.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.


4.


Turnover

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


2024
2023
£
£

Manufacture of corrugated paper products and paper conversion
14,109,092
15,388,655

14,109,092
15,388,655


All turnover arose within the United Kingdom.


5.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation on tangible fixed assets
131,371
170,970

Fees payable to the company's auditor
29,132
27,346

Other operating lease rentals
94,421
109,076

(Profit)/loss on disposal of tangible fixed assets
585
(500)

Page 24

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Auditors' remuneration

During the year, the Group obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the consolidated, parent Company's and subsidiary Company's financial statements
29,132
27,346


7.


Employees

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


Group
Group
2024
2023
£
£


Wages and salaries
2,556,273
2,470,743

Social security costs
265,311
253,224

Cost of defined contribution scheme
91,882
85,214

2,913,466
2,809,181


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


        2024
        2023
            No.
            No.







Production
40
44



Distribution
11
9



Administration
10
9

61
62

Page 25

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
289,153
338,012

Group contributions to defined contribution pension schemes
14,696
14,215

303,849
352,227


During the year retirement benefits were accruing to 3 directors (2023 - NIL) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £137,043 (2023 - £143,624).

The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £7,140 (2023 - £6,721).


9.


Interest payable

2024
2023
£
£


Bank interest payable
9,507
57,841

Other loan interest payable
39,614
(2,771)

Finance leases and hire purchase contracts
5,251
5,251

54,372
60,321


10.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
371,808
442,453

Adjustments in respect of previous periods
(31,657)
26,260


340,151
468,713


Total current tax
340,151
468,713

Deferred tax


Origination and reversal of timing differences
(5,826)
2,339

Total deferred tax
(5,826)
2,339


Taxation on profit on ordinary activities
334,325
471,052
Page 26

 
JOHN ROBERTS SOLUTIONS LIMITED
 

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


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate (2023 - marginal rate) of corporation tax in the UK of 25% (2023 - 23.52%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
1,319,782
1,698,441


Profit on ordinary activities multiplied by standard rate (2023 - marginal rate) of corporation tax in the UK of 25% (2023 - 23.52%)
329,946
399,473

Effects of:


Non-tax deductible amortisation of goodwill and impairment
32,206
30,299

Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
3,830
16,327

Adjustments to tax charge in respect of prior periods
(31,657)
26,260

Remeasurement of deferred tax for changes in tax rates
-
33

Permanent capital allowances in excess of depreciation
-
5,880

Other differences leading to an increase (decrease) in the tax charge
-
2,998

Group relief
-
(10,218)

Total tax charge for the year
334,325
471,052


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


11.


Dividends

2024
2023
£
£


Dividends paid
100,000
-

100,000
-

The directors have declared a final dividend of £100,000 on 31 January 2025.


12.


Parent company profit for the year

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit after tax of the parent Company for the year was £1,260,816 (2023 - £3,836).

Page 27

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Intangible assets

Group and Company





Goodwill

£



Cost


At 1 January 2024
1,288,229



At 31 December 2024

1,288,229



Amortisation


At 1 January 2024
361,266


Charge for the year on owned assets
128,823



At 31 December 2024

490,089



Net book value



At 31 December 2024
798,140



At 31 December 2023
926,963



Page 28

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


Tangible fixed assets

Group






Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
1,250,000
3,894,729
354,138
279,797
5,778,664


Additions
-
85,841
18,500
-
104,341


Disposals
-
-
(10,500)
-
(10,500)



At 31 December 2024

1,250,000
3,980,570
362,138
279,797
5,872,505



Depreciation


At 1 January 2024
125,000
3,671,240
210,993
271,478
4,278,711


Charge for the year on owned assets
25,000
55,872
12,949
2,774
96,595


Charge for the year on financed assets
-
-
34,776
-
34,776


Disposals
-
-
(8,416)
-
(8,416)



At 31 December 2024

150,000
3,727,112
250,302
274,252
4,401,666



Net book value



At 31 December 2024
1,100,000
253,458
111,836
5,545
1,470,839



At 31 December 2023
1,125,000
223,489
143,145
8,319
1,499,953

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
69,531
104,307

69,531
104,307

Page 29

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

15.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
4,585,572



At 31 December 2024
4,585,572





Direct subsidiary undertaking


The following was a direct subsidiary undertaking of the Company:

Name

Registered office

Principal activity

Class of shares

Holding

John Roberts Ventures Limited
Christies High Mill, Settle, North Yorkshire, BD24 9LX
Holding company
Ordinary
100%

The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

John Roberts Ventures Limited
1,200,894
1,299,920


Indirect subsidiary undertaking


The following was an indirect subsidiary undertaking of the Company:

Name

Registered office

Principal activity

Class of shares

Holding

John Roberts Holdings Limited
Christies High Mill, Settle, North Yorkshire, BD24 9LX
Manufacture of corrugated paper
Ordinary
100%

The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

John Roberts Holdings Limited
13,335,446
1,153,545

Page 30

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

16.


Stocks

Group
Group
2024
2023
£
£

Raw materials and consumables
460,387
462,663

Finished goods and goods for resale
131,994
80,432

592,381
543,095



17.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
2,556,662
2,303,409
-
-

Amounts owed by group undertakings
-
-
1,758,306
458,693

Other debtors
-
40,645
-
-

Prepayments and accrued income
236,166
221,105
-
-

2,792,828
2,565,159
1,758,306
458,693



18.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
322,959
63,925
4,003
-

322,959
63,925
4,003
-


Page 31

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

19.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
60,000
535,531
-
535,531

Trade creditors
1,362,872
1,408,292
-
-

Amounts owed to group undertakings
-
-
6,035,243
4,360,095

Corporation tax
79,891
292,453
-
-

Other taxation and social security
374,534
372,954
-
-

Obligations under finance lease and hire purchase contract
34,748
30,863
-
-

Invoice Financing
838,447
-
-
-

Other creditors
120,435
159,341
-
-

Accruals and deferred income
166,205
207,186
10
1,827

3,037,132
3,006,620
6,035,253
4,897,453



The following liabilities were secured:
Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
60,000
535,531
-
535,531

Obligations under finance lease and hire purchase contract
34,748
30,863
-
-

Invoice Financing
838,447
-
-
-

933,195
566,394
-
535,531

Details of security provided:

Invoice financing is secured by way of a debenture including a fixed charge and floating charge over the
assets held by the company.
The obligations under finance lease and hire purchase contracts are secured by charges over the assets
acquired under relevant agreements.
For details of security of the bank loan, see note 21.

Page 32

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

20.


Creditors: Amounts falling due after more than one year

Group
Group
2024
2023
£
£

Bank loans
490,000
-

Net obligations under finance leases and hire purchase contracts
116,031
143,123

606,031
143,123



The following liabilities were secured:
Group
Group
2024
2023
£
£


Bank Loans
490,000
-

Net obligations under finance leases and hire purchase contracts
116,031
143,123

606,031
143,123

Details of security provided:

The obligations under finance lease and hire purchase contracts are secured by charges over the assets
acquired under relevant agreements.
For details of security of the bank loan, see note 21.



Page 33

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

21.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Amounts falling due within one year

Bank loans
60,000
535,531
-
535,531


60,000
535,531
-
535,531

Amounts falling due 1-2 years

Bank loans
60,000
-
-
-

Amounts falling due 2-5 years

Bank loans
180,000
-
-
-

Amounts falling due after more than 5 years

Bank loans
250,000
-
-
-

550,000
535,531
-
535,531


The bank loan was drawn down on 28th February 2024. The loan bears interest at 2.95% above Base
Rate and is repayable in equal monthly instalments over 10 years from the drawn down date.
The loan is secured by means of a Debenture and legal mortgage over land and buildings owned by the
Company and by means of a Cross Company Guarantee with John Roberts Ventures Limited and John
Roberts Solutions Limited.
Under the agreed covenants, the loan would be repayable on demand if the company‘s debt service
cover is less than 200% and the loan to value exceeds 70%.


22.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
2024
2023
£
£

Within one year
34,748
30,863

Between 1-5 years
116,031
32,147

Over 5 years
-
110,976

150,779
173,986

Page 34

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

23.


Deferred taxation


Group



2024


£






At beginning of year
95,777


Charged to profit or loss
(5,826)



At end of year
89,951

Company








At end of year
-
Group
Group
2024
2023
£
£

Accelerated capital allowances
89,951
95,777

89,951
95,777


24.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



110,000 (2023 - 110,000) A Ordinary shares of £1.00 each
110,000
110,000
NIL (2023 - 23,950) B Ordinary shares of £1.00 each
-
23,950

110,000

133,950

Both the A and B Ordinary shares of £1 each carry one vote per share.
On 05 January 2024 the Company purchased 23,950 of it's B Ordinary Shares of £1.00 each for the total consideration of £995,000.


Page 35

 
JOHN ROBERTS SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

25.


Reserves

Capital redemption reserve

The capital redemption reserve is a non-distributable reserve and arose when the Company undertook a repurchase of its own shares.

Profit and loss account

The profit and loss account represents cumulative profits and losses less dividends paid.


26.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £91,882 (2023 - £85,214). There were no contributions payable at the year end date.


27.


Commitments under operating leases

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


Group
Group
2024
2023
£
£

Not later than 1 year
143,171
116,924

Later than 1 year and not later than 5 years
141,760
224,246

284,931
341,170


28.Financial commitments, guarantees and contingent liabilities

There is an unlimited multilateral guarantee given to the bank between John Roberts Ventures Limited, John Roberts Group Limited and John Roberts Holdings Limited.
In addition the company has given a guarantee in favour of HM Revenue and Customs for £30,000 (2022: £30,000).
Santander Plc hold fixed and floating charges over the company's property and assets. 


29.


Related party transactions

The Group has taken advantage of the exemption contained in Section 33 of FRS 102 "Related Party Disclosures" from disclosing transactions with entities which are part of the Group, since 100% of the voting rights in the Company are controlled within the Group and the Company is included within the Group accounts which are publicly available.

Page 36