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REGISTERED NUMBER: 08778541 (England and Wales)




GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

JBF GROUP HOLDINGS LIMITED

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Consolidated Statement of Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


JBF GROUP HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTOR: A J Broderick



REGISTERED OFFICE: Bryn Lane
Wrexham Industrial Estate
Wrexham
LL13 9UT



REGISTERED NUMBER: 08778541 (England and Wales)



AUDITORS: M. D. Coxey and Co. Limited
Chartered Accountants
and Statutory Auditors
25 Grosvenor Road
Wrexham
LL11 1BT



BANKERS: HSBC Bank plc.
17-19 Regent Street
Wrexham
LL11 1RY

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

The director presents his strategic report of the company and the group for the year ended 30th September 2024.

REVIEW OF BUSINESS
Turnover during the year increased by 19% from £12.6m to £14.9m which represents steady growth.

Gross margin has fallen from 25% to 22% due to rising wages and raw material costs.

As a result, operating margin has fallen from 4% to 1%.

However, due to increased investment into the business with the purchase of new assets and equipment, net reserves have increased from £5.2m to £5.4m which strengthens our balance sheet further.

JBF Group remain relatively low geared compared to competitors within our industry.

PRINCIPAL RISKS AND UNCERTAINTIES
Economic risk
There has been economic uncertainty arising from the continual conflict in Ukraine. This conflict has had a major impact on raw material pricing. The business has procedures in place to ensure risk assessments are considered as part of our tendering and project management phases. The business continues to monitor and review costs to mitigate the risk of price increases.

Health & safety
JBF Group operates in often complex and high risk environments, working with plant and machinery which present risks to our people and supply chain. We have clear, well communicated policies and governance in place in order to ensure our staff and wider supply chain can work safely.

Credit & liquidity risk
The cash and working capital requirements of the business are managed on a regular basis by cashflow forecasting and monthly board meetings monitoring financial performance.
The company has a credit control policy in place which regularly reviews the credit performance of our debtors.

Future work
We recognise that non-renewal of existing contracts along with a reduction in our orderbook poses a risk to the business. We mitigate this risk with maintaining strong relationships with clients and a diversified portfolio.

Climate change
We recognise that climate change is having a detrimental impact on the environment and JBF Group are playing its part to address this by monitoring and reducing carbon emissions where possible.

ON BEHALF OF THE BOARD:





A J Broderick - Director


11th July 2025

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

The director presents his report with the financial statements of the company and the group for the year ended 30th September 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of civil, structural and mechanical engineering.

DIVIDENDS
No dividends were paid during the year.

RESEARCH AND DEVELOPMENT
JBF Group continues to undertake research and development to gain new technical knowledge which creates an advance within the industry which subsequently leads to improved designs, products, systems and processes.

FUTURE DEVELOPMENTS
We anticipate another positive year for JBF Group with a strong orderbook moving into 2025.

DIRECTOR
A J Broderick held office during the whole of the period from 1st October 2023 to the date of this report.

His beneficial interests in the shares of the company, according to the register of directors' interests, were as follows:

30.9.24 1.10.23
A ordinary shares of £1 each 589,050 589,050

B ordinary shares of £1 each 282,975 282,975

He did not hold any non-beneficial interests in any of the shares of the company.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is 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 director is required to:

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

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

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

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


AUDITORS
The auditors, M. D. Coxey and Co. Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A J Broderick - Director


11th July 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JBF GROUP HOLDINGS LIMITED

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

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

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

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

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

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

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JBF GROUP HOLDINGS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JBF GROUP HOLDINGS LIMITED


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

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions;

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JBF GROUP HOLDINGS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Anthony Lewis (Senior Statutory Auditor)
for and on behalf of M. D. Coxey and Co. Limited
Chartered Accountants
and Statutory Auditors
25 Grosvenor Road
Wrexham
LL11 1BT

11th July 2025

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

CONSOLIDATED
STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £   

TURNOVER 3 14,931,028 12,574,402

Cost of sales 11,718,264 9,400,300
GROSS PROFIT 3,212,764 3,174,102

Administrative expenses 3,296,343 2,701,271
(83,579 ) 472,831

Other operating income 4 254,503 3,106
OPERATING PROFIT 6 170,924 475,937

Interest receivable and similar income 7 - 41
170,924 475,978
Gain/loss on revaluation of investments - 217,125
170,924 693,103

Interest payable and similar expenses 8 9,546 3,882
PROFIT BEFORE TAXATION 161,378 689,221

Tax on profit 9 11,627 143,211
PROFIT FOR THE FINANCIAL YEAR 149,751 546,010

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

149,751

546,010

Profit attributable to:
Owners of the parent 149,751 546,010

Total comprehensive income attributable to:
Owners of the parent 149,751 546,010

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

CONSOLIDATED BALANCE SHEET
30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 1,119,840 1,259,820
Tangible assets 13 2,156,409 1,471,342
Investments 14 - -
Investment property 15 600,000 600,000
3,876,249 3,331,162

CURRENT ASSETS
Stocks 16 87,287 115,855
Debtors 17 4,496,746 2,937,138
Cash at bank and in hand 530,636 1,149,064
5,114,669 4,202,057
CREDITORS
Amounts falling due within one year 18 3,249,713 2,053,101
NET CURRENT ASSETS 1,864,956 2,148,956
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,741,205

5,480,118

CREDITORS
Amounts falling due after more than one
year

19

(203,046

)

(103,337

)

PROVISIONS FOR LIABILITIES 23 (187,068 ) (175,441 )
NET ASSETS 5,351,091 5,201,340

CAPITAL AND RESERVES
Called up share capital 24 1,155,000 1,155,000
Retained earnings 25 4,196,091 4,046,340
SHAREHOLDERS' FUNDS 5,351,091 5,201,340

The financial statements were approved by the director and authorised for issue on 11th July 2025 and were signed by:





A J Broderick - Director


JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

COMPANY BALANCE SHEET
30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 - -
Tangible assets 13 1,049,924 1,125,637
Investments 14 1,400,000 1,400,000
Investment property 15 600,000 600,000
3,049,924 3,125,637

CURRENT ASSETS
Debtors 17 493,572 142,166
Cash at bank 43,956 247,592
537,528 389,758
CREDITORS
Amounts falling due within one year 18 599,778 535,276
NET CURRENT LIABILITIES (62,250 ) (145,518 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,987,674

2,980,119

PROVISIONS FOR LIABILITIES 23 84,320 98,405
NET ASSETS 2,903,354 2,881,714

CAPITAL AND RESERVES
Called up share capital 24 1,155,000 1,155,000
Retained earnings 1,748,354 1,726,714
SHAREHOLDERS' FUNDS 2,903,354 2,881,714

Company's profit for the financial year 21,640 128,906

The financial statements were approved by the director and authorised for issue on 11th July 2025 and were signed by:





A J Broderick - Director


JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st October 2022 1,155,000 4,064,170 5,219,170

Changes in equity
Dividends - (563,840 ) (563,840 )
Total comprehensive income - 546,010 546,010
Balance at 30th September 2023 1,155,000 4,046,340 5,201,340

Changes in equity
Total comprehensive income - 149,751 149,751
Balance at 30th September 2024 1,155,000 4,196,091 5,351,091

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st October 2022 1,155,000 2,161,648 3,316,648

Changes in equity
Dividends - (563,840 ) (563,840 )
Total comprehensive income - 128,906 128,906
Balance at 30th September 2023 1,155,000 1,726,714 2,881,714

Changes in equity
Total comprehensive income - 21,640 21,640
Balance at 30th September 2024 1,155,000 1,748,354 2,903,354

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 184,807 1,136,336
Interest paid (4,998 ) (3,217 )
Interest element of hire purchase payments
paid

(4,548

)

(665

)
Tax paid (13,047 ) (1,155 )
Net cash from operating activities 162,214 1,131,299

Cash flows from investing activities
Purchase of tangible fixed assets (959,244 ) (218,846 )
Sale of tangible fixed assets 32,815 1,600
Interest received - 41
Net cash from investing activities (926,429 ) (217,205 )

Cash flows from financing activities
New HP contracts in year 64,615 48,401
HP repayments in year (3,020 ) (1,758 )
New loans 137,955 -
Loan repayments in year (53,763 ) (42,050 )
Equity dividends paid - (563,840 )
Net cash from financing activities 145,787 (559,247 )

(Decrease)/increase in cash and cash equivalents (618,428 ) 354,847
Cash and cash equivalents at beginning of
year

2

1,149,064

794,217

Cash and cash equivalents at end of year 2 530,636 1,149,064

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

30.9.24 30.9.23
£    £   
Profit before taxation 161,378 689,221
Depreciation charges 393,156 322,566
(Profit)/loss on disposal of fixed assets (11,814 ) 64
Gain on revaluation of fixed assets - (217,125 )
Finance costs 9,546 3,882
Finance income - (41 )
552,266 798,567
Decrease in stocks 28,568 326,839
Increase in trade and other debtors (1,559,608 ) (269,082 )
Increase in trade and other creditors 1,163,581 280,012
Cash generated from operations 184,807 1,136,336

2. CASH AND CASH EQUIVALENTS

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

Year ended 30th September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 530,636 1,149,064
Year ended 30th September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 1,149,064 794,217


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank and in hand 1,149,064 (618,428 ) 530,636
1,149,064 (618,428 ) 530,636
Debt
Finance leases (48,007 ) (61,595 ) (109,602 )
Debts falling due within 1 year (44,426 ) (42,132 ) (86,558 )
Debts falling due after 1 year (57,692 ) (42,060 ) (99,752 )
(150,125 ) (145,787 ) (295,912 )
Total 998,939 (764,215 ) 234,724

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Significant judgements and estimates
In the application of the Company’s accounting policies, management are required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

- Estimated useful lives and residual values of fixed assets:
Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during current and prior accounting periods.

- Estimated write down of stock and WIP to net realisable value:
Stock valuation and amounts recoverable on contracts have been based on net realisable value deemed appropriate by the directors. The estimated write down of stock and amounts recoverable on contracts to net realisable value is reviewed annually and revised as appropriate by the directors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Where the outcome of individual contracts can be measured reliably, contract revenue is recognised by reference to the measure of progress at the reporting date.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

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

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Current or deferred taxation assets and liabilities are not discounted.

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

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

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

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

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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

3. TURNOVER

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

An analysis of turnover by geographical market is given below:

30.9.24 30.9.23
£    £   
United Kingdom 14,364,118 10,516,279
Channel Islands 566,910 2,058,123
14,931,028 12,574,402

An analysis of turnover by class of business is given below:

30.9.24 30.9.23
£ £
Civil, structural and mechanical engineering 14,931,028 12,574,402
14,931,028 12,574,402

4. OTHER OPERATING INCOME
30.9.24 30.9.23
£    £   
Grants 254,503 500
Sundry receipts - 2,606
254,503 3,106

5. EMPLOYEES AND DIRECTORS
30.9.24 30.9.23
£    £   
Wages and salaries 3,616,356 2,834,373
Social security costs 406,989 303,150
Other pension costs 112,730 98,210
4,136,075 3,235,733

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

5. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
30.9.24 30.9.23

Production 54 41
Office 26 28
80 69

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

30.9.24 30.9.23
£    £   
Director's remuneration 12,535 12,500
Director's pension contributions to money purchase schemes 40,012 40,377

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

Money purchase schemes 1 1

6. OPERATING PROFIT

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

30.9.24 30.9.23
£    £   
Hire of plant and machinery 938,789 661,271
Other operating leases 18,939 600
Depreciation - owned assets 232,312 176,190
Depreciation - assets on hire purchase contracts 20,864 6,396
(Profit)/loss on disposal of fixed assets (11,814 ) 64
Goodwill amortisation 139,980 139,980
Auditors' remuneration 17,700 11,500
Auditors' remuneration for non audit work 8,776 11,440

7. INTEREST RECEIVABLE AND SIMILAR INCOME
30.9.24 30.9.23
£    £   
Deposit account interest - 41

8. INTEREST PAYABLE AND SIMILAR EXPENSES
30.9.24 30.9.23
£    £   
Bank loan interest 3,508 3,217
Loan interest 1,490 -
Hire purchase 4,548 665
9,546 3,882

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.9.24 30.9.23
£    £   
Current tax:
UK corporation tax - 13,047

Deferred tax 11,627 130,164
Tax on profit 11,627 143,211

UK corporation tax has been charged at 25 % (2023 - 25 %).

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

30.9.24 30.9.23
£    £   
Profit before tax 161,378 689,221
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 25 %)

40,345

172,305

Effects of:
Income not taxable for tax purposes (1,362 ) -
Enhanced deductions (67,196 ) (126,816 )
Super deductions - (1,685 )
Marginal rate adjustment - (2,180 )
Non-qualifying depreciation 39,840 39,838
Deferred tax rate adjustment - 61,749
Total tax charge 11,627 143,211

10. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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


11. DIVIDENDS

There were no dividends paid during the year.

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

12. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1st October 2023
and 30th September 2024 1,399,800
AMORTISATION
At 1st October 2023 139,980
Amortisation for year 139,980
At 30th September 2024 279,960
NET BOOK VALUE
At 30th September 2024 1,119,840
At 30th September 2023 1,259,820

13. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1st October 2023 968,512 - 810,721
Additions - 511,474 173,988
Disposals - - -
At 30th September 2024 968,512 511,474 984,709
DEPRECIATION
At 1st October 2023 19,372 - 490,970
Charge for year 19,370 - 115,136
Eliminated on disposal - - -
At 30th September 2024 38,742 - 606,106
NET BOOK VALUE
At 30th September 2024 929,770 511,474 378,603
At 30th September 2023 949,140 - 319,751

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

13. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st October 2023 98,445 457,723 2,335,401
Additions 20,451 253,331 959,244
Disposals - (31,201 ) (31,201 )
At 30th September 2024 118,896 679,853 3,263,444
DEPRECIATION
At 1st October 2023 60,057 293,660 864,059
Charge for year 15,130 103,540 253,176
Eliminated on disposal - (10,200 ) (10,200 )
At 30th September 2024 75,187 387,000 1,107,035
NET BOOK VALUE
At 30th September 2024 43,709 292,853 2,156,409
At 30th September 2023 38,388 164,063 1,471,342

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st October 2023 64,128
Additions 77,313
At 30th September 2024 141,441
DEPRECIATION
At 1st October 2023 4,008
Charge for year 20,864
At 30th September 2024 24,872
NET BOOK VALUE
At 30th September 2024 116,569
At 30th September 2023 60,120

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

13. TANGIBLE FIXED ASSETS - continued

Company
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1st October 2023 968,512 274,213 6,000 1,248,725
Disposals - - (6,000 ) (6,000 )
At 30th September 2024 968,512 274,213 - 1,242,725
DEPRECIATION
At 1st October 2023 19,372 99,216 4,500 123,088
Charge for year 19,370 54,843 1,500 75,713
Eliminated on disposal - - (6,000 ) (6,000 )
At 30th September 2024 38,742 154,059 - 192,801
NET BOOK VALUE
At 30th September 2024 929,770 120,154 - 1,049,924
At 30th September 2023 949,140 174,997 1,500 1,125,637

14. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st October 2023
and 30th September 2024 1,400,000
NET BOOK VALUE
At 30th September 2024 1,400,000
At 30th September 2023 1,400,000

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

Subsidiaries

J B Fabrication (Wrexham) Limited
Registered office: Bryn Lane, Wrexham Industrial Estate, Wrexham, Clwyd LL13 9UT
Nature of business: Civil, structural and mechanical engineering
%
Class of shares: holding
Ordinary 100.00
30.9.24 30.9.23
£    £   
Aggregate capital and reserves 2,453,036 2,232,001
Profit for the year 203,437 450,825

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

14. FIXED ASSET INVESTMENTS - continued

J B Fabrication (Bromborough) Limited
Registered office: Bryn Lane, Wrexham Industrial Estate, Wrexham, Clwyd LL13 9UT
Nature of business: Civil, structural and mechanical engineering.
%
Class of shares: holding
Ordinary 100.00
30.9.24 30.9.23
£    £   
Aggregate capital and reserves 164,156 223,114
(Loss)/profit for the year (78,610 ) 134,070

JBF Group (Yorkshire) Limited
Registered office: Bryn Lane, Wrexham Industrial Estate, Wrexham, Clwyd LL13 9UT
Nature of business: Civil, structural and mechanical engineering.
%
Class of shares: holding
Ordinary 100.00
30.9.24 30.9.23
£    £   
Aggregate capital and reserves 110,609 4,692
Profit for the year 141,223 6,207


15. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1st October 2023
and 30th September 2024 600,000
NET BOOK VALUE
At 30th September 2024 600,000
At 30th September 2023 600,000

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2024 600,000

If investment property had not been revalued it would have been included at the following historical cost:

30.9.24 30.9.23
£    £   
Cost 382,875 382,875

Investment property was valued on an open market basis on 20th June 2024 by L R Hayward MRICS of Wingetts Limited .

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

15. INVESTMENT PROPERTY - continued

Company
Total
£   
FAIR VALUE
At 1st October 2023
and 30th September 2024 600,000
NET BOOK VALUE
At 30th September 2024 600,000
At 30th September 2023 600,000

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2024 600,000

If investment property had not been revalued it would have been included at the following historical cost:

30.9.24 30.9.23
£    £   
Cost 382,875 382,875

Investment property was valued on an open market basis on 20th June 2024 by L R Hayward MRICS of Wingetts Limited .

16. STOCKS

Group
30.9.24 30.9.23
£    £   
Stocks 67,500 87,720
Work-in-progress 19,787 28,135
87,287 115,855

17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Trade debtors 2,092,714 2,043,351 9,326 3,240
Amounts owed by group undertakings - - 188,931 138,926
Amounts recoverable on contract 1,015,976 262,733 - -
Other debtors 964,444 480,763 295,260 -
VAT 423,612 150,291 55 -
4,496,746 2,937,138 493,572 142,166

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Bank loans and overdrafts (see note 20) 86,558 44,426 - -
Hire purchase contracts (see note 21) 6,308 2,362 - -
Trade creditors 2,603,305 1,342,777 11,280 150
Amounts owed to group undertakings - - 574,990 511,955
Tax - 13,047 - 10,788
Social security and other taxes 201,804 106,640 - -
VAT - - - 1,480
Other creditors 131,963 33,776 8,890 6,930
Accrued expenses 219,775 510,073 4,618 3,973
3,249,713 2,053,101 599,778 535,276

19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
30.9.24 30.9.23
£    £   
Bank loans (see note 20) 99,752 57,692
Hire purchase contracts (see note 21) 103,294 45,645
203,046 103,337

20. LOANS

An analysis of the maturity of loans is given below:

Group
30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 86,558 44,426
Amounts falling due between one and two years:
Bank loans - 1-2 years 81,107 42,511
Amounts falling due between two and five years:
Bank loans - 2-5 years 18,645 15,181

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

21. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
30.9.24 30.9.23
£    £   
Net obligations repayable:
Within one year 6,308 2,362
Between one and five years 103,294 45,645
109,602 48,007

Group
Non-cancellable operating leases
30.9.24 30.9.23
£    £   
Within one year 8,222 9,956
Between one and five years 3,380 11,601
11,602 21,557

22. SECURED DEBTS

The following secured debts are included within creditors:

Group
30.9.24 30.9.23
£    £   
Bank loans 186,310 102,118
Hire purchase contracts 109,602 48,007
295,912 150,125

Debts are secured over the underlying assets.

23. PROVISIONS FOR LIABILITIES

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Deferred tax
Accelerated capital allowances 154,519 121,160 30,039 44,124
Tax losses carried forward (21,732 ) - - -
Other timing differences 54,281 54,281 54,281 54,281
187,068 175,441 84,320 98,405

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

23. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1st October 2023 175,441
Movement in the year due to:
changes in tax rates
changes in tax allowances 11,627
Balance at 30th September 2024 187,068

Company
Deferred
tax
£   
Balance at 1st October 2023 98,405
Movement in the year due to:
changes in tax rates
changes in tax allowances (14,085 )
investment revaluations
Balance at 30th September 2024 84,320

The net deferred tax liability expected to reverse on capital allowances in the year to 30th September 2024 is £45,146.

24. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
589,050 A ordinary £1 589,050 589,050
565,950 B ordinary £1 565,950 565,950
1,155,000 1,155,000

There are two classes of ordinary share. There are no restrictions on the distribution of dividends or the repayment of capital.

25. RESERVES

Group
Retained
earnings
£   

At 1st October 2023 4,046,340
Profit for the year 149,751
At 30th September 2024 4,196,091

JBF GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 08778541)

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

25. RESERVES - continued

Company
Retained
earnings
£   

At 1st October 2023 1,726,714
Profit for the year 21,640
At 30th September 2024 1,748,354


26. CAPITAL COMMITMENTS
30.9.24 30.9.23
£    £   
Contracted but not provided for in the
financial statements - -

27. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A J Broderick.