Company registration number 01751835 (England and Wales)
LLOYD & JONES ENGINEERS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
LLOYD & JONES ENGINEERS LIMITED
COMPANY INFORMATION
Directors
Mr J Birch
Mrs C Birch
Mr A Boden
Mr D Lester
Secretary
Mr J Birch
Company number
01751835
Registered office
Langton House
74 Regent Road
Bootle
Liverpool
L20 1BL
Auditor
JS. Audit Limited
James House
Stonecross Business Park
Yew Tree Way
Warrington
Cheshire
WA3 3JD
Bankers
Barclays Bank Plc
48-50 Lord Street
Liverpool
Merseyside
L2 1TD
LLOYD & JONES ENGINEERS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 27
LLOYD & JONES ENGINEERS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024
- 1 -

The directors present the strategic report for the year ended 31 October 2024.

Business review

The company’s principal activity during the year was that of merchants of engineers supplies, manufacturer of abrasive products, and supplier of specialist cutting tools and welding products. The company is wholly owned by its parent company, Lloyd & Jones Engineers (Holdings) Limited.

 

The company is headquartered in Liverpool and traded at 22 branches in the year covering the North West, North Wales, Midlands, South West and North East of England.

 

The market in which the company operates has, like others, been affected by economic uncertainty. In that context, the relative stability of the trading results has been welcome. The key for the business is having the right products available at the right price, delivered to our customers through the expertise and knowledge of our staff. The implementation of this strategy is essential to ensure the continued success of the company.

Principal risks and uncertainties

Key risks have been monitored by the board throughout the year to identify changes and respond as required.

 

The most significant principal risk throughout the year and post year-end has been business strategy. If the wrong strategy is adopted or the strategy is not implemented effectively then the business may be negatively impacted. The sector continues to evolve, and the marketplace includes both large national and local competitors. Products and prices are carefully monitored to ensure that the business maintains market share, and the board have taken the decision to expand the branch network as well as developing our online offering to diversify the risk of competitive forces so far as possible.

 

The risks arising from the impact of inflation have been carefully managed by regularly reviewing our pricing propositions. External cost pressures such as rising fuel costs, business rates and wage inflation have affected the company during the year, but we have always attempted to mitigate the impact of these cost pressures on our customers and on overall profitability through cost saving measures wherever we can.

 

The company employed, on average, 238 staff during the year who were critical to the success of our branch network and invaluable in the help and support that we provide to our customers. Attracting and maintaining good relations with staff is essential to maximising branch performance so throughout the year our employment policies and salary packages were reviewed so as to be competitive with other employers.

 

With a large array of available stock lines to support customer needs, it is important that stock levels are reviewed and carefully managed so as to minimise the risk to the business of obsolete stock. The board regularly reviews overall stock levels and stock holding periods to ensure that stock lines are continually moving, and that obsolete stock is identified and dealt with at the appropriate time. A supplier and stock reduction program continues to optimise performance in this critical area.

Financial key performance indicators

The financial results and balance sheet position are set out on pages 8 and 9 of the financial statements.

 

Turnover from operations has increased by 4% from £39.5 million to £41.2 million for the year under review. Gross margin has increased slightly from 28.3% to 30.2% which is consistent with fluctuations over previous years. The operating profit before exceptional items for the year is £0.8 million and the profit before tax for the year is £0.6 million.

 

The balance sheet net assets as at 31 October 2024 total £6.2 million which is an increase on the prior year from £5.9 million. Borrowings have increased in the year to facilitate growth and expansion and are secured over available company and group assets, and the company has committed available facilities for the foreseeable future.

 

Overall, the company has significant net assets and net current assets and is in a strong position to look forward to future periods with continued confidence.

LLOYD & JONES ENGINEERS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -

On behalf of the board

Mr J Birch
Director
18 July 2025
LLOYD & JONES ENGINEERS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -

The directors present their annual report and financial statements for the year ended 31 October 2024.

Principal activities

The principal activity of the company continued to be that of merchants of engineering supplies, manufacturer of abrasive products and supplier of specialist cutting tools and welding products.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £47,000 (2023 : £150,000). The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J Birch
Mrs C Birch
Mr A Boden
Mr D Lester
Mr S Ranson
(Resigned 31 October 2024)
Financial risk management objectives and ploicies

The directors minimise financial risk by ensuring there are sufficient internal controls in place to reduce the risk of fraud and error occurring.

 

A fully integrated stock and accounting system is maintained which reduces some of the financial risk, and all new accounts are credit checked to reduce potential bad debt risks.

 

The directors manage the financing requirements of the business in conjunction with our funds provider.

 

Any further risks are managed as required.

Future developments

Future developments of the company will in the short term be affected by the ongoing economic uncertainty and inflationary environment. There is a recent history of acquisitions of similar types of businesses and this trend will continue should the right business at the right price be identified by the directors.

Auditor

DSG Audit resigned as the company's auditor on 23 December 2024 and JS. Audit Limited were appointed as auditor to the company in succession. In accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report 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 of the profit or loss of the company for that period.

LLOYD & JONES ENGINEERS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -

In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Strategic report

The company has chosen in accordance with Companies Act 2006, s.414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the business review and principal risks and uncertainties.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr J Birch
Director
18 July 2025
LLOYD & JONES ENGINEERS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF LLOYD & JONES ENGINEERS LIMITED
- 5 -
Opinion

We have audited the financial statements of Lloyd & Jones Engineers Limited (the 'company') for the year ended 31 October 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

LLOYD & JONES ENGINEERS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF LLOYD & JONES ENGINEERS LIMITED (CONTINUED)
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement included within the directors' report., the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the 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 company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

Irregularities including fraud are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities including fraud is detailed below.

 

Based on our understanding of the company and sector, we identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the Companies Act 2006, distributable profits, UK tax, employment, pension, health and safety and environmental legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as UK financial reporting standards and the Companies Act 2006.

 

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgements and the risk of fraud in revenue recognition.

 

LLOYD & JONES ENGINEERS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF LLOYD & JONES ENGINEERS LIMITED (CONTINUED)
- 7 -

Our procedures to respond to risks identified included the following:

 

 

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

 

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 is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's member 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 member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.

Neil Kelly BA FCA (Senior Statutory Auditor)
For and on behalf of JS. Audit Limited, Statutory Auditor
Chartered Accountants
James House
Stonecross Business Park
Yew Tree Way
Warrington
Cheshire
WA3 3JD
18 July 2025
LLOYD & JONES ENGINEERS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
41,234,082
39,512,536
Cost of sales
(28,769,065)
(28,322,980)
Gross profit
12,465,017
11,189,556
Distribution costs
(8,525,234)
(7,875,092)
Administrative expenses
(3,106,266)
(2,613,189)
Other operating income
8,152
116
Exceptional item
4
(13,657)
(284,987)
Operating profit
5
828,012
416,404
Interest receivable and similar income
9
17,683
285,111
Interest payable and similar expenses
10
(289,925)
(207,817)
Profit before taxation
555,770
493,698
Tax on profit
11
(207,420)
(168,830)
Profit for the financial year
348,350
324,868

There was no other comprehensive income for either the current or prior year.

LLOYD & JONES ENGINEERS LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
13
339,520
465,794
Tangible assets
14
2,160,176
2,010,919
Investments
15
162,308
246,730
2,662,004
2,723,443
Current assets
Stocks
17
4,395,399
4,479,811
Debtors
18
10,485,408
9,827,448
Cash at bank and in hand
309,882
268,528
15,190,689
14,575,787
Creditors: amounts falling due within one year
19
(11,371,185)
(11,117,757)
Net current assets
3,819,504
3,458,030
Total assets less current liabilities
6,481,508
6,181,473
Provisions for liabilities
Deferred tax liability
22
296,958
298,273
(296,958)
(298,273)
Net assets
6,184,550
5,883,200
Capital and reserves
Called up share capital
24
15,200
15,200
Capital redemption reserve
25
34,800
34,800
Profit and loss reserves
25
6,134,550
5,833,200
Total equity
6,184,550
5,883,200

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 18 July 2025 and are signed on its behalf by:
Mr J Birch
Director
Company registration number 01751835 (England and Wales)
LLOYD & JONES ENGINEERS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024
- 10 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 November 2022
15,200
34,800
5,658,332
5,708,332
Year ended 31 October 2023:
Profit and total comprehensive income
-
-
324,868
324,868
Dividends
12
-
-
(150,000)
(150,000)
Balance at 31 October 2023
15,200
34,800
5,833,200
5,883,200
Year ended 31 October 2024:
Profit and total comprehensive income
-
-
348,350
348,350
Dividends
12
-
-
(47,000)
(47,000)
Balance at 31 October 2024
15,200
34,800
6,134,550
6,184,550
LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 11 -
1
Accounting policies
Company information

Lloyd & Jones Engineers Limited is a private company limited by shares incorporated in England and Wales. The registered office is Langton House, 74 Regent Road, Bootle, Liverpool, L20 1BL.

1.1
Accounting convention

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

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. The principal accounting policies adopted are set out below.

This 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:

 

 

The financial statements of the company are consolidated in the financial statements of Lloyd & Jones Engineers (Holdings) Limited. These consolidated financial statements are available from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The financial statements have been prepared on a going concern basis. At 31 October 2024, the company had net assets of £6.2 million and net current assets of £3.8 million, together with a cash reserves of £0.3 million and committed bank facilities with its bankers through to a period of at least 12 months from the date of signing the financial statements.

 

Management have prepared forecasts of financial performance to cover a period of 12 months from the date of signing the financial statements. The key risk over the period of the forecasts is that of a significant decline in revenue generating activity over the forecast period, but given the profile of the customer base and the continued flow of work to date, the directors consider the forecast to be a robust assessment of likely activity.

 

Based on this assessment, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

1.3
Turnover

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

LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 12 -

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.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

 

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

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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:

Other intangibles
20% straight line
1.6
Tangible fixed assets

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

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

Leasehold improvements
20% straight line
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Motor vehicles
25% 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 credited or charged to profit or loss.

1.7
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 13 -

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

1.8
Impairment of fixed assets

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

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

 

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

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

1.9
Stocks

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

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

1.10
Cash and cash equivalents

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

1.11
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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

 

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

LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 14 -
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.

 

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 company 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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

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

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the company 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 company.

LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 15 -
1.13
Taxation

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

Current tax

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

Deferred tax

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

 

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

1.14
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.15
Employee benefits

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

 

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

 

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

1.16
Retirement benefits

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

LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 16 -
1.17
Leases

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

 

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

 

Rentals payable under operating leases, including any lease incentives received, are charged to the income statement 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 lease asset are consumed.

1.18
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.

1.19

Borrowing

All borrowing costs are recognised in the profit or loss in the period in which they are incurred.

1.20

Exceptional items

Exceptional items are transactions that fall within the ordinary operating activities of the company but are presented separately due to their size or incidence.

2
Judgements and key sources of estimation uncertainty

In the application of the company’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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Assessing indicators of impairment

The directors have determined whether there are indicators of impairment in the company's investments, tangible assets, and intangible assets including goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash generating unit, the viability and expected future performance of that unit.

LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
- 17 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Estimating value in use

Where an indication of impairment exists, the directors will carry out an impairment review to determine the recoverable amount, which is the higher of fair value less costs to sell and value in use. The value in use calculation required the directors to estimate the future cash flows expected to arise from the asset or the cash generating unit, and a suitable discount rate in order to calculate present value.

Recoverability of receivables

The company establishes a provision for receivables that are estimated to not be recoverable. When assessing recoverability the directors consider factors such as the ageing of receivables, past experience of recoverability, and the credit profile of individual or groups of customers.

Determining the stock provision

The company provides for obsolete and slow moving stock, Management undertake an assessment of which stocks are no longer economically feasible based on consumer performance, before allocating the necessary provisions to bring the stock valuation in line with the stated accounting policy.

Determining residual values and useful economic lives of tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles, and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Sale of engineering products and tools
41,234,082
39,512,536
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
41,003,186
39,219,600
Rest of the World
230,896
292,936
41,234,082
39,512,536
2024
2023
£
£
Other revenue
Interest income (note 9)
-
123
Dividends received (note 9)
17,683
284,988
Other operating income
8,152
116
LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 18 -
4
Exceptional item
2024
2023
£
£
Expenditure
Impairment of fixed asset investments
13,657
284,987
See notes 15 & 16 of the financial statements for further details.
5
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses
12,382
1,461
Depreciation of owned tangible fixed assets
603,682
517,461
Depreciation of tangible fixed assets held under finance leases
10,462
13,950
Loss/(profit) on disposal of tangible fixed assets
24,564
(8,699)
Amortisation of intangible assets
197,039
193,454
6
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
20,500
20,500

The company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the group financial statements of the parent company.

7
Employees

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

2024
2023
Number
Number
Distribution and sales staff
191
178
Administration staff
47
43
Total
238
221
LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
7
Employees
(Continued)
- 19 -

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
7,191,573
6,550,089
Social security costs
741,192
641,526
Pension costs
215,226
194,296
8,147,991
7,385,911
8
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
535,654
318,063
Company pension contributions to defined contribution schemes
35,776
2,857
571,430
320,920

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2023 - 3).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
176,109
76,638
Company pension contributions to defined contribution schemes
1,328
-
9
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
-
0
123
Income from fixed asset investments
Income from shares in group undertakings
17,683
284,988
Total income
17,683
285,111
LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 20 -
10
Interest payable and similar expenses
2024
2023
£
£
Interest on invoice finance arrangements
267,204
199,798
Other interest
22,721
8,019
289,925
207,817
11
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
195,811
128,206
Adjustments in respect of prior periods
12,924
17,230
Total current tax
208,735
145,436
Deferred tax
Origination and reversal of timing differences
19,689
28,225
Adjustment in respect of prior periods
(21,004)
(4,831)
Total deferred tax
(1,315)
23,394
Total tax charge
207,420
168,830

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
555,770
493,698
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
138,943
123,425
Tax effect of expenses that are not deductible in determining taxable profit
80,978
118,950
Tax effect of income not taxable in determining taxable profit
(4,421)
(71,247)
Adjustments in respect of prior years
(8,080)
12,399
Other differences leading to an increase/(decrease) in the tax charge
-
(14,697)
Taxation charge for the year
207,420
168,830
LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 21 -
12
Dividends
2024
2023
£
£
Dividends paid on equity capital
47,000
150,000
13
Intangible fixed assets
Goodwill
Other intangibles
Total
£
£
£
Cost
At 1 November 2023
1,831,883
10,000
1,841,883
Transfers from investments (note 15)
70,765
-
0
70,765
At 31 October 2024
1,902,648
10,000
1,912,648
Amortisation and impairment
At 1 November 2023
1,366,089
10,000
1,376,089
Amortisation charged for the year
197,039
-
0
197,039
At 31 October 2024
1,563,128
10,000
1,573,128
Carrying amount
At 31 October 2024
339,520
-
0
339,520
At 31 October 2023
465,794
-
0
465,794
LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 22 -
14
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2023
119,121
1,985,173
221,206
1,825,056
4,150,556
Additions
-
0
201,037
130,032
533,900
864,969
Disposals
-
0
(65,016)
-
0
(274,312)
(339,328)
At 31 October 2024
119,121
2,121,194
351,238
2,084,644
4,676,197
Depreciation and impairment
At 1 November 2023
95,297
1,059,527
142,561
842,252
2,139,637
Depreciation charged in the year
23,824
257,161
36,203
296,956
614,144
Eliminated in respect of disposals
-
0
(54,589)
-
0
(183,171)
(237,760)
At 31 October 2024
119,121
1,262,099
178,764
956,037
2,516,021
Carrying amount
At 31 October 2024
-
0
859,095
172,474
1,128,607
2,160,176
At 31 October 2023
23,824
925,646
78,645
982,804
2,010,919

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

2024
2023
£
£
Plant and equipment
31,387
41,849
15
Fixed asset investments
2024
2023
Notes
£
£
Investments in subsidiaries (note 13)
16
162,308
246,730
LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
15
Fixed asset investments
(Continued)
- 23 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 November 2023
2,116,129
Transfer to goodwill
(70,765)
At 31 October 2024
2,045,364
Impairment
At 1 November 2023
1,869,399
Impairment losses
13,657
At 31 October 2024
1,883,056
Carrying amount
At 31 October 2024
162,308
At 31 October 2023
246,730
16
Subsidiaries

Details of the company's subsidiaries at 31 October 2024 are as follows:

Name of undertaking
Class of
% Held
shares held
Direct
Central Polishing Supply Co. Limited
Ordinary
100.00
Tooltek Supplies Limited
Ordinary
100.00
European Welding Supplies Limited
Ordinary
100.00
North Valley Supplies Limited
Ordinary A & B
100.00
Mersey Equipment Company Limited
Ordinary
100.00
PSI Industrial Supplies Limited
Ordinary
100.00
Jackdaw Tools Holdings Limited
Ordinary A
100.00
Jackdaw Tools Limited
Ordinary
100.00
Rishton Abrasive Products Limited
Ordinary
100.00
LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
16
Subsidiaries
(Continued)
- 24 -

The registered office of all subsidiaries above is PO Box 29, c/o Lloyd & Jones Engineers Ltd, Regent Road, Bootle, L20 1BL

 

Mersey Equipment Company Limited (registration number: 01185922), PSI Industrial Supplies Limited (registration number: 03476540), Jackdaw Tools Holdings Limited (registration number: 14671804), Jackdaw Tools Limited (registration number: 02902720), and Rishton Abrasive Products Limited (registration number: 04326430) are exempt from the requirement for audit of their individual financial statements under section 479A of the Companies Act 2006. Central Polishing Supply Co. Limited (registration number: 01685316), Tooltek Supplies Limited (registration number: 02401883), European Welding Supplies Limited (registration number: 09210918) and North Valley Supplies Limited (registration number: 09054129) are all dormant companies.

 

On 30 November 2023, the trade and net assets of Rishton Abrasive Products Limited were sold to Lloyd & Jones Engineers Limited. The consideration was equal to the fair value of net assets at that date with no value attributed to the goodwill acquired. In accordance with the provisions of UK accounting standards, a transfer of £70,765 has been made from the cost of investment to goodwill, the amount transferred equivalent to the amortised net book value of goodwill as at the date of transfer of the trade and net assets. On 30 November 2023, Rishton Abrasive Products Limited paid a dividend to Lloyd & Jones Engineers Limited of £17,683, this comprised the net assets of Rishton Abrasive Products Limited with the exception of £100 which is retained as the carrying value of the investment. Rishton Abrasive Products Limited has been dormant since that date, so accordingly an investment impairment charge of £13,657 has been recognised in the financial statements.

 

17
Stocks
2024
2023
£
£
Finished goods and goods for resale
4,395,399
4,479,811

Included within finished goods and goods for resale is £557,848 (2023: £562,126) of stock on consignment at customers' premises. As Lloyd & Jones Engineers Limited bears the risks, this stock remains their property until used by the customer.

18
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
9,409,306
8,766,928
Other debtors
911,858
911,857
Prepayments and accrued income
164,244
148,663
10,485,408
9,827,448

The invoice financing facility is secured by way of a fixed charge over eligible trade debtors.

LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 25 -
19
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Obligations under finance leases
21
5,798
19,048
Other borrowings
20
4,366,305
3,849,192
Trade creditors
4,832,967
4,588,292
Amounts owed to group undertakings
1,141,086
1,334,479
Corporation tax
126,964
89,231
Other taxation and social security
557,705
614,715
Other creditors
76,595
89,881
Accruals and deferred income
263,765
532,919
11,371,185
11,117,757

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

20
Loans and overdrafts
2024
2023
£
£
Other borrowings
4,366,305
3,849,192
Payable within one year
4,366,305
3,849,192

Other borrowings comprise an invoice discounting facility of £4,366,305 (2023: £3,849,192).

Barclays Bank plc hold a debenture including a fixed and floating charge over all present freehold and leasehold properties and all other assets and undertakings, both present and future, dated 5 July 2021, to secure invoice financing facilities.

21
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
5,798
19,048

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Finance leases are secured over the assets concerned. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 26 -
22
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
302,963
298,273
Retirement benefit obligations
(6,005)
-
296,958
298,273
2024
Movements in the year:
£
Liability at 1 November 2023
298,273
Credit to other comprehensive income
(1,315)
Liability at 31 October 2024
296,958

No reversal of the deferred tax liability in relation to accelerated capital allowances is expected over the next 12 months. The deferred tax asset in relation to retirement benefit obligations is expected to reserve within 12 months.

23
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
215,226
194,296

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions to the fund totalling £37,389 (2023: £32,779) were payable to the fund at the balance sheet date.

24
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Class A Ordinary shares of £1 each
15,200
15,200
15,200
15,200
The company has one class of ordinary shares which carry voting rights but no right to fixed income.
LLOYD & JONES ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 27 -
25
Reserves
Capital redemption reserve

This reserve records the nominal value of shares repurchased.

Profit and loss reserves

This reserve comprises accumulated profits and losses generated less any dividends voted by the balance sheet date.

26
Operating lease commitments

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

2024
2023
£
£
Within one year
7,057
3,897
Between two and five years
11,954
11,367
19,011
15,264
27
Related party transactions

The company has taken advantage of the exemptions under FRS 102 which permit subsidiaries not to disclose transactions with other group companies which are wholly owned by the group.

 

Mr J Birch is a shareholder of Lloyd & Jones Engineers Holdings (IOM) Limited, which owns 100% of the share capital of Target Tools Limited. Included in debtors at the balance sheet date is a loan balance of £900,000 (2023: £900,000) due from Target Tools Limited. Target Tools Limited owed £21,748 (2023: £11,763) to the company at the balance sheet date and the company owed £2,441 (2023: £2,499) to Target Tools Limited at the balance sheet date.

 

During the year, the company rented premises owned by the Lloyd & Jones Engineers Limited Retirement & Death Benefit Pension Scheme. The company paid rent of £259,034 (2023: £270,200) in respect of these premises and owed £62,133 (2023: £53,250) to the pension scheme at the balance sheet date which is included in trade creditors due within one year.

 

There are no other transactions that are required to be disclosed under FRS 102.

28
Ultimate controlling party

The immediate and ultimate parent company is Lloyd & Jones Engineers (Holdings) Limited, a company incorporated in the United Kingdom and registered in England and Wales. Its registered office address is Langton House, 74 Regent Road, Bootle, Liverpool, L20 1BL.

 

Lloyd & Jones Engineers (Holdings) Limited is the largest group of companies into which the company's results are consolidated and these financial statements are publicly available. Copies of the financial statements of Lloyd & Jones Engineers (Holdings) Limited can be obtained from the Registrar of Companies, Crown Way, Cardiff, CF14 3UZ.

 

Mr J Birch is the ultimate controlling party of the parent company.

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