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REGISTERED NUMBER: 03477583 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 December 2024

for

Joedan Holdings Limited

Joedan Holdings Limited (Registered number: 03477583)






Contents of the Consolidated Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Statement of Comprehensive Income 7

Consolidated Balance Sheet 8

Company Balance Sheet 9

Consolidated Statement of Changes in Equity 10

Company Statement of Changes in Equity 11

Consolidated Cash Flow Statement 12

Notes to the Consolidated Cash Flow Statement 13

Notes to the Consolidated Financial Statements 14


Joedan Holdings Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mrs N J Purcaro
Mr J A Purcaro





SECRETARY: Mr J D A Purcaro





REGISTERED OFFICE: Unit 3 Joedan Park
Northway Gate
Ashchurch
Tewkesbury
Gloucestershire
GL20 8JP





REGISTERED NUMBER: 03477583 (England and Wales)





AUDITORS: Griffiths Marshall
Floor 4
Llanthony Warehouse
The Docks
Gloucester
Gloucestershire
GL1 2EH

Joedan Holdings Limited (Registered number: 03477583)

Group Strategic Report
for the Year Ended 31 December 2024

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS
We are pleased to present the report and accounts of Joedan Holdings Limited and its subsidiary for the year ended 31 December 2024.

As ever, we are grateful for the continued support of our employees, clients, suppliers and business partners.

PRINCIPAL RISKS AND UNCERTAINTIES
The group had no financial instruments at the balance sheet date other than cash and financial instruments such as debtors and creditors that arise from its operations.

The group is exposed to a variety of financial risks which result from its operating activities. The board is responsible for coordinating the company's risk management and focuses on securing the company's short to medium term cash flows.

The group does not actively engage in the trading of financial assets and has no financial derivatives.

The group seeks to manage risks to ensure sufficient liquidity is available to meet its foreseeable needs. Regular contact is maintained with the company's bankers to ensure that sufficient funding is available for the company's needs if required.

KEY PERFORMANCE INDICATORS
The group measures its performance on a number of key performance indicators, including revenue, gross profit as well as net cash from operations. Individual job profitability is very closely monitored by the directors as this is key to the operation of the group.

The Group's ley financial and other performance indicators during the current period and prior period are:

2024 2023
Revenue 14,408,099 12,570,137
Gross profit 8,875,966 7,534,925
Operating profit 581,753 685,394
Gross profit margin % 38% 40%
Net profit margin % 3% 2%

ON BEHALF OF THE BOARD:





Mr J A Purcaro - Director


3 July 2025

Joedan Holdings Limited (Registered number: 03477583)

Report of the Directors
for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the design, manufacture and sale of doors, windows and conservatories and the design and supply of bespoke aluminium extrusions.

DIVIDENDS
No dividends was distributed for the year ended 31 December 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Mrs N J Purcaro
Mr J A Purcaro

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

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

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

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

AUDITORS
The auditor, Griffiths Marshall, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:





Mr J A Purcaro - Director


3 July 2025

Report of the Independent Auditors to the Members of
Joedan Holdings Limited

Opinion
We have audited the financial statements of Joedan Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 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 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 UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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

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

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

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

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

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

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

Report of the Independent Auditors to the Members of
Joedan 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 Directors.

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

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

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

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:

We gained an understanding of the legal and regulatory framework applicable to Joedan Holdings Limited and the industry in which it operates and, considered the risk of acts by Management and directors of Joedan Holdings Limited which were contrary to applicable laws and regulations, including fraud. These included but were not limited to compliance with the Companies Act 2006 and Employment Law. We made enquiries of the Directors to obtain further understanding of risks of non-compliance.

We focused on laws and regulations that could give rise to a material misstatement in the financial statements. Our tests included, but were not limited to:

- agreement of the financial statement disclosures to underlying supporting documentation;
- enquiries of management regarding known or suspected instances of non-compliance with laws and regulations;
- review of minutes of the Board meetings throughout the year; and
- obtaining an understanding of the control environment in place to prevent and detect irregularities.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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
Joedan 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.




Greg Lewis (Senior Statutory Auditor)
for and on behalf of Griffiths Marshall
Floor 4
Llanthony Warehouse
The Docks
Gloucester
Gloucestershire
GL1 2EH

11 July 2025

Joedan Holdings Limited (Registered number: 03477583)

Consolidated Statement of Comprehensive Income
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   

TURNOVER 3 14,408,099 12,570,137

Cost of sales 8,875,966 7,534,925
GROSS PROFIT 5,532,133 5,035,212

Distribution costs 2,343 -
Administrative expenses 5,306,170 4,393,567
5,308,513 4,393,567
223,620 641,645

Other operating income 371,384 43,749
OPERATING PROFIT 5 595,004 685,394

Interest receivable and similar income 7 25,708 2,188
620,712 687,582

Interest payable and similar expenses 8 105,339 83,746
PROFIT BEFORE TAXATION 515,373 603,836

Tax on profit 9 127,638 313,072
PROFIT FOR THE FINANCIAL YEAR 387,735 290,764

OTHER COMPREHENSIVE INCOME
Revaluation of tangible fixed assets
Deferred tax on revaluation reserve 100,000 500,000
Income tax relating to other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

100,000

500,000
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

487,735

790,764

Profit attributable to:
Owners of the parent 387,735 290,764

Total comprehensive income attributable to:
Owners of the parent 487,735 790,764

Joedan Holdings Limited (Registered number: 03477583)

Consolidated Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 1,204,461 1,402,840
Tangible assets 13 6,551,579 4,741,285
Investments 14 775,090 725,100
8,531,130 6,869,225

CURRENT ASSETS
Stocks 15 1,413,269 894,378
Debtors 16 2,713,469 1,706,140
Cash at bank and in hand 1,064,210 1,242,444
5,190,948 3,842,962
CREDITORS
Amounts falling due within one year 17 3,489,291 2,542,551
NET CURRENT ASSETS 1,701,657 1,300,411
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,232,787

8,169,636

CREDITORS
Amounts falling due after more than one
year

18

(2,568,612

)

(1,056,383

)

PROVISIONS FOR LIABILITIES 22 (431,932 ) (368,745 )
NET ASSETS 7,232,243 6,744,508

CAPITAL AND RESERVES
Called up share capital 23 100,100 100,100
Share premium 25,239 25,239
Revaluation reserve 1,820,361 1,720,361
Retained earnings 5,286,543 4,898,808
SHAREHOLDERS' FUNDS 7,232,243 6,744,508

The financial statements were approved by the Board of Directors and authorised for issue on 3 July 2025 and were signed on its behalf by:





Mr J A Purcaro - Director


Joedan Holdings Limited (Registered number: 03477583)

Company Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 - -
Tangible assets 13 6,736,372 5,118,437
Investments 14 3,732,204 2,904,437
10,468,576 8,022,874

CURRENT ASSETS
Debtors 16 874,014 365,076
Cash at bank - 553,500
874,014 918,576
CREDITORS
Amounts falling due within one year 17 516,388 209,210
NET CURRENT ASSETS 357,626 709,366
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,826,202

8,732,240

CREDITORS
Amounts falling due after more than one
year

18

(2,564,012

)

(1,042,826

)

PROVISIONS FOR LIABILITIES 22 (261,290 ) (241,930 )
NET ASSETS 8,000,900 7,447,484

CAPITAL AND RESERVES
Called up share capital 23 100,100 100,100
Share premium 25,239 25,239
Revaluation reserve 1,820,361 1,720,361
Retained earnings 6,055,200 5,601,784
SHAREHOLDERS' FUNDS 8,000,900 7,447,484

Company's profit for the financial year 453,416 149,635

The financial statements were approved by the Board of Directors and authorised for issue on 3 July 2025 and were signed on its behalf by:





Mr J A Purcaro - Director


Joedan Holdings Limited (Registered number: 03477583)

Consolidated Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Share Revaluation Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 January 2023 100,100 4,608,044 25,239 1,220,361 5,953,744

Changes in equity
Total comprehensive income - 290,764 - 500,000 790,764
Balance at 31 December 2023 100,100 4,898,808 25,239 1,720,361 6,744,508

Changes in equity
Total comprehensive income - 387,735 - 100,000 487,735
Balance at 31 December 2024 100,100 5,286,543 25,239 1,820,361 7,232,243

Joedan Holdings Limited (Registered number: 03477583)

Company Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Share Revaluation Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 January 2023 100,100 5,452,149 25,239 1,220,361 6,797,849

Changes in equity
Total comprehensive income - 149,635 - 500,000 649,635
Balance at 31 December 2023 100,100 5,601,784 25,239 1,720,361 7,447,484

Changes in equity
Total comprehensive income - 453,416 - 100,000 553,416
Balance at 31 December 2024 100,100 6,055,200 25,239 1,820,361 8,000,900

Joedan Holdings Limited (Registered number: 03477583)

Consolidated Cash Flow Statement
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,098,559 515,705
Interest paid (62,422 ) (20,303 )
Interest element of hire purchase
payments paid

(42,917

)

(18,968

)
Finance costs paid 25,499 -
Tax paid (211,677 ) (211,188 )
Net cash from operating activities 1,807,042 265,246

Cash flows from investing activities
Purchase of tangible fixed assets (2,162,951 ) (35,499 )
Purchase of fixed asset investments (1,267,767 ) (25,000 )
Sale of tangible fixed assets 39,457 1,800
Sale of fixed asset investments 410,000 -
Interest received 25,708 2,188
Net cash from investing activities (2,955,553 ) (56,511 )

Cash flows from financing activities
Repayment of bank loans 924,958 (124,284 )
Payment of finance lease obligations 45,319 (101,527 )
Amount withdrawn by directors - (202,339 )
Net cash from financing activities 970,277 (428,150 )

Decrease in cash and cash equivalents (178,234 ) (219,415 )
Cash and cash equivalents at
beginning of year

2

1,242,444

1,461,859

Cash and cash equivalents at end of
year

2

1,064,210

1,242,444

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 December 2024

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

31.12.24 31.12.23
£    £   
Profit before taxation 515,373 603,836
Depreciation charges 336,274 334,313
Profit on disposal of fixed assets (81 ) (680 )
Finance costs 105,339 83,746
Finance income (25,708 ) (2,188 )
931,197 1,019,027
Increase in stocks (518,891 ) (65,908 )
Increase in trade and other debtors (621,372 ) (241,870 )
Increase/(decrease) in trade and other creditors 2,307,625 (195,544 )
Cash generated from operations 2,098,559 515,705

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 31 December 2024
31.12.24 1.1.24
£    £   
Cash and cash equivalents 1,064,210 1,242,444
Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 1,242,444 1,461,859


3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.1.24 Cash flow At 31.12.24
£    £    £   
Net cash
Cash at bank and in hand 1,242,444 (178,234 ) 1,064,210
1,242,444 (178,234 ) 1,064,210
Debt
Finance leases (313,752 ) (45,319 ) (359,071 )
Debts falling due within 1 year (24,240 ) (51,918 ) (76,158 )
Debts falling due after 1 year (845,463 ) (873,040 ) (1,718,503 )
(1,183,455 ) (970,277 ) (2,153,732 )
Total 58,989 (1,148,511 ) (1,089,522 )

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Joedan 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

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

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

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

Section 4 'Statement of Financial Position' - Reconciliation of the opening and closing number of shares;

Section 7 'Statement of Cash Flows' - Presentation of a statement of cash flow and related notes and disclosures;

Section 33 'Related Party Disclosures' - Compensation for key management personnel.

Basis of consolidation
The consolidated financial statements incorporate those of Joedan Holdings Limited and all of its subsidiaries (i.e. entities that the Group controls through its power to govern the financial and operating policies so as to obtain economic benefits). All financial statements are made up to 31 December 2021.

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

Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the Group.

The cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill.

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Judgements and key sources of estimation and 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.

The main areas of accounting estimates are:

- Revenue and margin recognition on long term contracts
- Stock provision
- Recoverability of trade debtors

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

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

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs of that contract.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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

Software33.33% straight line
Development costs25% straight line

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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

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

Freehold land and buildings1% straight line
Showroom15% and 25% straight line
Office refurbishment5% straight line
Plant and equipment5% - 25% straight line and 15% reducing balance
Office equipment and computers33.33% straight line
Motor vehicles25% reducing balance

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

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

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

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 and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

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

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

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

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

Derecognition of financial assets

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

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

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

Cash and cash equivalents

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

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.


Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

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

Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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

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

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

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

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

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

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

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

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

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

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

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

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

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

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

Other fixed asset investments are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss.

3. TURNOVER

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

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

31.12.24 31.12.23
£    £   
Windows and doors 14,408,099 12,570,137
14,408,099 12,570,137

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

4. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
£    £   
Wages and salaries 3,395,647 2,973,046
Social security costs 395,316 387,880
Other pension costs 224,099 258,353
4,015,062 3,619,279

The average number of employees during the year was as follows:
31.12.24 31.12.23

Directors 3 3
Management 54 54
Production/distribution 121 121
178 178

31.12.24 31.12.23
£    £   
Directors' remuneration 721,990 666,249
Directors' pension contributions to money purchase schemes 142,400 182,400

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

Money purchase schemes 2 2
Defined benefit schemes 1 1

Information regarding the highest paid director is as follows:
31.12.24 31.12.23
£    £   
Emoluments etc 121,546 177,045

5. OPERATING PROFIT

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

31.12.24 31.12.23
£    £   
Hire of plant and machinery 51,824 64,192
Other operating leases 786,408 291,392
Depreciation - owned assets 417,780 253,999
Profit on disposal of fixed assets (81 ) (680 )
Goodwill amortisation 65,868 79,119
Computer software amortisation - 1,035
Foreign exchange differences 25,688 28,826

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

6. AUDITORS' REMUNERATION

31.12.24 31.12.23
Fees payable to the company's auditor and associates: £    £   

For audit services
Audit of the financial statements of the group and company 3,600 3,600
Audit of the financial statements of the company's subsidiaries 8,000 8,000
11,600 11,600
For other services
All other non-audit services 0 0

7. INTEREST RECEIVABLE AND SIMILAR INCOME
31.12.24 31.12.23
£    £   
Interest received 25,708 2,188

8. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.24 31.12.23
£    £   
Bank interest 476 -
Other interest 61,946 64,778
Hire purchase 42,917 18,968
105,339 83,746

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.24 31.12.23
£    £   
Current tax:
UK corporation tax 177,024 211,727
Adjustment in respect of prior
periods (93,076 ) -
Total current tax 83,948 211,727

Deferred tax 43,690 101,345
Tax on profit 127,638 313,072

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

9. TAXATION - continued

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:

31.12.24 31.12.23
£    £   
Profit before tax 515,373 603,836
Profit multiplied by the standard rate of corporation tax in the UK of
25 % (2023 - 25 %)

128,843

150,959

Effects of:
Expenses not deductible for tax purposes 66,722 119,841
Income not taxable for tax purposes 19,360 -
Depreciation in excess of capital allowances 5,976 36,689
Taxation prior year (93,076 ) -
Amortisation on assets not qualifying for tax allowances - 19,780
credit

respect of prior years
CT hybrid rate adjustment (187 ) (14,197 )
Total tax charge 127,638 313,072

Tax effects relating to effects of other comprehensive income

31.12.24
Gross Tax Net
£    £    £   
Revaluation of tangible fixed assets
Deferred tax on revaluation reserve 100,000 - 100,000
100,000 - 100,000

31.12.23
Gross Tax Net
£    £    £   
Revaluation of tangible fixed assets
Deferred tax on revaluation reserve 500,000 - 500,000
500,000 - 500,000

10. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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


11. RETIREMENT BENEFIT SCHEMES

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

The charge to profit or loss in respect of defined contribution schemes in the year ended 31st December 2024 was £224,099 (2023: £258,353).

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

12. INTANGIBLE FIXED ASSETS

On 23 October 2024, Tracker Marine Limited became a wholly owned subsidiary of Joedan Holdings Limited. Net assets were £910,288 which resulted in negative goodwill of £132,511. Negative goodwill is being written off over the estimated life of 10 years in common until its depreciation policy.

13. TANGIBLE FIXED ASSETS

Group
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 January 2024 4,493,872 203,388 1,663,383
Additions 1,609,201 - 345,194
Disposals - - -
Revaluations 99,999 - -
At 31 December 2024 6,203,072 203,388 2,008,577
DEPRECIATION
At 1 January 2024 739,599 203,388 1,085,057
Charge for year 63,289 - 196,353
Eliminated on disposal - - -
At 31 December 2024 802,888 203,388 1,281,410
NET BOOK VALUE
At 31 December 2024 5,400,184 - 727,167
At 31 December 2023 3,754,273 - 578,326

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 1,108,862 696,229 8,165,734
Additions 208,556 - 2,162,951
Disposals (251,503 ) - (251,503 )
Revaluations - - 99,999
At 31 December 2024 1,065,915 696,229 10,177,181
DEPRECIATION
At 1 January 2024 731,901 664,504 3,424,449
Charge for year 142,152 15,986 417,780
Eliminated on disposal (216,627 ) - (216,627 )
At 31 December 2024 657,426 680,490 3,625,602
NET BOOK VALUE
At 31 December 2024 408,489 15,739 6,551,579
At 31 December 2023 376,961 31,725 4,741,285

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

13. TANGIBLE FIXED ASSETS - continued

Group

Cost or valuation at 31 December 2024 is represented by:

Freehold Short Plant and
property leasehold machinery
£    £    £   
Valuation in 2022 279,708 - -
Valuation in 2023 500,000 - -
Valuation in 2024 100,000 - -
Cost 5,323,364 203,388 2,008,577
6,203,072 203,388 2,008,577

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2022 - - 279,708
Valuation in 2023 - - 500,000
Valuation in 2024 - - 100,000
Cost 1,065,915 696,229 9,297,473
1,065,915 696,229 10,177,181

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts:

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Plant and equipment - - - -
Motor vehicles 51,536 68,714 - -
51,536 68,714 51,536 68,714


Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

13. TANGIBLE FIXED ASSETS - continued

Company
Freehold Motor Computer
property vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2024 5,235,000 70,045 4,499 5,309,544
Additions 1,588,478 - - 1,588,478
Disposals - (52,295 ) - (52,295 )
Revaluations 100,000 - - 100,000
At 31 December 2024 6,923,478 17,750 4,499 6,945,727
DEPRECIATION
At 1 January 2024 131,761 58,846 500 191,107
Charge for year 61,882 1,587 1,499 64,968
Eliminated on disposal - (46,720 ) - (46,720 )
At 31 December 2024 193,643 13,713 1,999 209,355
NET BOOK VALUE
At 31 December 2024 6,729,835 4,037 2,500 6,736,372
At 31 December 2023 5,103,239 11,199 3,999 5,118,437

Land and buildings are carried at valuation. If land and buildings were measured using the cost model, the carrying amounts would have been £1,841,665 (2023 - £1,841,665), being cost £2,170,292 (2023 - £2,170,292) and depreciation £328,627 (2023 - £328,627).

The freehold properties held at valuation of £1,825,000 on 10 March 2015 were revalued on 14 May 2021 at £2,620,000 by Alder King LLP, independent property surveyors. The directors believe that the 14 May 2021 valuation of the freehold properties held at 10 March 2015 accurately reflects the value of these freehold properties at both 31 December 2020 and 31 December 2021. The year end balance includes the properties valued at £2,620,000 and additions since 10 March 2015 at cost.

During the year, the valuation on the property held at Daish way, IOW was valued at £800,000.

14. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 1 January 2024 725,100
Additions 489,990
Disposals (440,000 )
At 31 December 2024 775,090
NET BOOK VALUE
At 31 December 2024 775,090
At 31 December 2023 725,100

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

14. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
COST
At 1 January 2024 2,179,337 725,100 2,904,437
Additions 777,777 489,990 1,267,767
Disposals - (440,000 ) (440,000 )
At 31 December 2024 2,957,114 775,090 3,732,204
NET BOOK VALUE
At 31 December 2024 2,957,114 775,090 3,732,204
At 31 December 2023 2,179,337 725,100 2,904,437

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

Subsidiaries

Coastline Home Improvements IOW Limited
Registered office: England & Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Joedan Manufacturing (UK) Limited
Registered office: England & Wales
Nature of business: Manufacturing
%
Class of shares: holding
Ordinary 100.00

Micron Aluminium Doors Limited
Registered office: England & Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Micron Conservatories, Windows & Doors Limited
Registered office: England & Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Micron Home Improvements Limited
Registered office: England & Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

14. FIXED ASSET INVESTMENTS - continued

Wessex Window Systems Limited
Registered office: England & Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Micron Holdings Ltd
Registered office: England & Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Tracker Marine Limited
Registered office: England & Wales
Nature of business: Manufacture of doors and windows of metal
%
Class of shares: holding
Ordinary 100.00


15. STOCKS

Group
31.12.24 31.12.23
£    £   
Stocks 914,879 612,154
Work-in-progress 498,390 282,224
1,413,269 894,378

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Trade debtors 1,560,786 1,210,591 - -
Amounts owed by group undertakings 576,000 - 588,500 12,500
Other debtors 325,287 161,984 151,932 150,100
Directors' current accounts 130,147 202,188 130,147 202,188
VAT - - 3,230 136
Prepayments 121,249 131,377 205 152
2,713,469 1,706,140 874,014 365,076

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Bank loans and overdrafts (see note 19) 76,158 24,240 164,997 24,240
Hire purchase contracts (see note 20) 109,944 102,832 96,387 70,522
Payments on account 397,713 491,640 - -
Trade creditors 1,453,061 1,267,186 - -
Amounts owed to participating interests 576,000 - 25,000 25,000
Tax 177,073 304,802 27,954 40,589
Social security and other taxes 170,780 142,849 10,502 10,488
VAT 155,086 81,146 - -
Other creditors 302,809 53,647 179,476 25,000
Accrued expenses 70,667 74,209 12,072 13,371
3,489,291 2,542,551 516,388 209,210

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

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Bank loans (see note 19) 1,718,503 845,463 1,718,503 845,463
Hire purchase contracts (see note 20) 249,127 210,920 249,127 197,363
Other creditors 600,982 - 596,382 -
2,568,612 1,056,383 2,564,012 1,042,826

19. LOANS

An analysis of the maturity of loans is given below:

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts - - 88,839 -
Bank loans 76,158 24,240 76,158 24,240
76,158 24,240 164,997 24,240
Amounts falling due between one and two years:
Bank loans - over 1 year 1,718,503 845,463 1,718,503 845,463

The bank loan is secured by legal charges over the freehold property owned by the company, by debenture over the company's assets and by way of an intercompany guarantee.

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group

31.12.24 31.12.23
Future minimum lease payments due under finance leases: £    £   

Within one year 140,105 114,624
In two to five years 274,752 219,643
414,857 334,267
Less: future finance charges (55,786 ) (19,046 )
359,071 315,221

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3-5 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

The finance leases are secured against the assets to which they relate.

Company

31.12.24 31.12.23
Future minimum lease payments due under finance leases: £    £   

Within one year 126,419 82,314
In two to five years 274,752 204,799
401,171 287,113
Less: future finance charges (55,657 ) (17,758 )
345,514 269,355


Finance lease payments represent rentals payable by the company for motor vehicles. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 43 months. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments

Group
Non-cancellable operating leases
31.12.24 31.12.23
£    £   
Within one year 149,716 230,840
Between one and five years 27,582 165,401
177,298 396,241

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

21. FINANCIAL INSTRUMENTS

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Carrying amount of financial assets
Instruments measured at fair value
through

profit or loss 775,090 725,100 775,090 725,100


22. PROVISIONS FOR LIABILITIES

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Deferred tax
Accelerated capital allowances 169,030 105,203 (1,612 ) (21,612 )
Other timing differences 262,902 263,542 262,902 263,542
431,932 368,745 261,290 241,930

Group
Deferred
tax
£   
Balance at 1 January 2024 368,745
Provided during year 63,187
Balance at 31 December 2024 431,932

Company
Deferred
tax
£   
Balance at 1 January 2024 241,930
Provided during year 19,360
Balance at 31 December 2024 261,290

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100,100 Ordinary 1 100,100 100,100

Joedan Holdings Limited (Registered number: 03477583)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

24. RELATED PARTY DISCLOSURES

The Group has taken advantage of the exemption in FRS102 section 33 from the requirement to disclose transactions with wholly owned group companies.

During the year the group paid £180,000 (2023: £180,000) to Groomberry Limited a related party by virtue of John Purcaro being a director and shareholder in both companies. At the year end the group was owed from Groomberry Limited £nil (2023: £nil). The amounts paid are in relation to rent payable to Groomberry Limited.

Company
The company has taken advantage of the exemption in FRS102 section 33 from the requirement to disclose transactions with wholly owned group companies.

Key management personnel does not include directors.

25. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is John Purcaro.