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REGISTERED NUMBER: 08326109 (England and Wales)












Strategic Report, Report of the Directors and

Audited Financial Statements

for the Year Ended 31 December 2024

for

J McCann & Co Limited

J McCann & Co Limited (Registered number: 08326109)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 8

Report of the Independent Auditors 10

Statement of Comprehensive Income 13

Balance Sheet 14

Statement of Changes in Equity 15

Notes to the Financial Statements 16


J McCann & Co Limited

Company Information
for the year ended 31 December 2024







DIRECTORS: J J McCann
A Kelsey
C Lancaster
A Cronin





REGISTERED OFFICE: McCann House
110 Nottingham Road
Chilwell
Nottinghamshire
NG9 6DQ





REGISTERED NUMBER: 08326109 (England and Wales)





AUDITORS: Clayton & Brewill
Statutory Auditors and
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

J McCann & Co Limited (Registered number: 08326109)

Strategic Report
for the year ended 31 December 2024

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

IMPACT OF RANSOMWARE ATTACK ON J MCCANN & CO LTD

1. Impact of the Ransomware Attack
Since the previous year-end, J McCann & Co Ltd experienced a significant ransomware attack on our central servers, leading to the loss of critical accounting and payroll data. This created substantial challenges in maintaining financial reporting and day-to-day operational efficiency. Despite proactive security measures, the attack resulted in the need for extensive data reconstruction, which placed additional strain on internal resources.

Following the swift notification and action of our IT support systems, the impact was minimised to the Servers but to prevent any latent malware being activated, a wholesale review and upgrade to storage and operating systems was undertaken immediately to enable all of our remote sites to remain operational.
Due to the professionalism and commitment of our Finance Department Team, we were able to maintain supplier payments and Payroll throughout the period.
Ultimately, we were able to recover all of the data that had been encrypted, without recourse to the attackers, which ultimately provides testament to the existing processes that were in place at the time.

We have now fully recovered from the event and have emerged with a new fully operational system that has recently been accredited to an industry recognised standard.

2. Response and Recovery Efforts
In response to the attack, the company took was able to mitigate the impact by:
- Data Reconstruction:
We have been able to fully recover all encrypted date and restore this to new financial and payroll systems that were upgraded at the time. This was done by leveraging available backups, historical records, and external verification sources where necessary.
- IT and Cybersecurity Expertise :
We engaged cybersecurity specialists to assess the breach, advise on security modifications and restore date to more secure environments, along with additional security measures prevent further incidents.
- Operational Adjustments:
Temporary measures were put in place to ensure that payroll processing and financial reporting continued, uninterrupted. This ensured that minimal financial disruption was experienced by staff, suppliers and stakeholders both during and after the event.

3. Risk Management and Future Mitigation
Recognising the severity of cybersecurity threats, the company is implementing robust measures to prevent similar incidents in the future, including:
- Enhanced Cybersecurity Infrastructure:
Strengthening IT security protocols, increasing system monitoring, and implementing advanced threat detection software.
- Data Backup and Redundancy:
Establishing more frequent and secure backup procedures, ensuring critical data is stored in multiple locations.
- Employee Training and Awareness:
Conducting regular cybersecurity training for employees to recognise and prevent potential threats.
- Strategic Investment in IT Security:
Allocating resources to enhance data protection and business continuity planning.

Despite these challenges, J McCann & Co Ltd remains committed to financial transparency and operational resilience. By addressing the vulnerabilities exposed by this incident, the Company is now stronger and better prepared for future risks.


J McCann & Co Limited (Registered number: 08326109)

Strategic Report
for the year ended 31 December 2024

REVIEW OF BUSINESS
This review is intended to be consistent with the size and nature of our business. We aim to present a balanced and comprehensive review of the development and performance of the company during the year to 31st December 2024, its position at year end and an update of events after the balance sheet date, to enable a better understanding by the readers of the accounts, of the company's financial position

The company has consolidated its core business, returning profits of £1,678,765, before tax, on a turnover of £82,894,375. This was achieved by concentrating on our highways maintenance and infrastructure skills and ensuring that projects obtained and delivered certainty and a healthy margin. Due to increased return, cash flow and profitability have been restored with healthy cash balances being reported at year end.
The company will continue to maintain its focus on working capital and cash management in the future and continue to leverage our specialist expertise whilst seeking new opportunities, within our sector, for increased margin generation.

Since the Year end, we have continued to maintain strong growth within our chosen sectors with the recent award of several notable projects: -
- Liverpool City Council Street Lighting Term Maintenance (3 plus 2x 1 years)
- Gull Wing Bridge Term Maintenance (5 Years)
- Nottingham Footbridge
- A52 QMC to Priory Signs and Streetlighting
- Humber Bridge Free Flow Tolling System Civils Infrastructure

We believe that this success demonstrates the resilience of the business and the ongoing demand for our services. However, we remain mindful of the challenges that lie ahead in the coming year and the impact of the current economic and geo-political climate.

PRINCIPAL RISKS AND UNCERTAINTIES
Government spending decisions
We recognise that the majority of our income is from National and Local government sources and can be affected by changes in government policy.
Economic uncertainty
There is ongoing uncertainty due to the risk of recession, further inflationary and interest rate increases along with possible changes in Government policy.
Geopolitical disruptions
The current uncertain state of world politics, including Ukraine, Yemen and the Middle East can all have an impact on local economic conditions.
Tariffs (USA)
We do not trade with the USA directly and most of our imported goods are manufactured within Europe. We therefore do not consider this to be a significant risk to the business at this time.
Financial risk
The company has a broad range of customers including both private companies and public sector bodies.
The risk that the company will suffer from significant levels of bad debts is managed by the diversified portfolio and well established credit control procedures across the company. The company is funded through a combination of hire purchase funding and a credit facility with the company's bankers who have remained supportive throughout this period and beyond.

The Directors continue to monitor these impacts and react as necessary.

The above risks are typical of the current UK economy and we are confident that they do not represent an undue risk to the success of the business. Our current portfolio of Government backed long term contracts, will continue to provide a significant buffer to these uncertainties. This is recognised in the Company improving its cash position since the year end and continues to work with positive cash balances, as it expects to continue to do so through 2025.


J McCann & Co Limited (Registered number: 08326109)

Strategic Report
for the year ended 31 December 2024

SECTION 172(1) STATEMENT
The Directors of J McCann & Co Ltd acknowledge their duty under section 172(1) of the Companies Act 2006 to act in a way that they consider, in good faith, would most likely promote the success of the company for the benefit of its members as a whole. In making decisions during the financial year, the Directors have had regard to the following key factors:

Stakeholder Engagement and Key Considerations
During this period, our response to the Ransomware attack typified how we have continued to maintain our consideration for the likely consequences of our decisions for the long term, the need to act fairly between members of the company, and the company's wider relationships. Examples of these decisions are given below:
- Employees
The well-being and development of our employees remain a priority. We have continued to invest in training, well-being initiatives and professional development opportunities. We continue to review our Policies and have recently introduced an enhanced Parental Policies covering Maternity, Paternity and Adoption Leave which provides up to 26weeks at full pay prior to reverting to statutory amounts.
- Customers
Our commitment to delivering high-quality services remains paramount. The Directors have actively engaged with key customers to maintain strong relationships, particularly in light of operational challenges caused by the cyberattack. Measures were taken to ensure minimal service disruption and
uphold customer confidence.
- Suppliers
We value our supplier partnerships and strive for mutually beneficial relationships. Despite the operational impact of the ransomware incident, we maintained transparent communication with our suppliers, ensuring timely payments and ongoing collaboration to support business continuity.
- Shareholders
The Directors have kept shareholders informed of business developments, including the financial impact of the ransomware attack. Steps have been taken to mitigate risks and strengthen the company's resilience to future cyber threats.
- Community and Environment
We remain committed to acting responsibly towards the environment and the communities in which we operate. During the year, we continued our initiatives aimed at sustainability and corporate social responsibility, ensuring our business operations align with our long-term environmental goals.
- Regulatory and Governance Considerations
Compliance with legal and regulatory obligations is integral to our decision-making process. Following the cyberattack, we reviewed and enhanced our cybersecurity framework to strengthen data protection and regulatory compliance.
- Decision-Making and Long-Term Impact
The Directors have made strategic decisions that support the long-term sustainability and growth of J McCann & Co Ltd. These include strengthening cybersecurity measures, investing in employee well-being, and reinforcing business resilience to protect stakeholders' interests.

The Board remains committed to reviewing and refining its stakeholder engagement strategies to ensure that the company continues to operate successfully and responsibly in the years ahead.



J McCann & Co Limited (Registered number: 08326109)

Strategic Report
for the year ended 31 December 2024


STREAMLINED ENERGY AND CARBON REPORTING
This inventory has been prepared in accordance with the Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (2004) and ISO 14064-1:2018 Specification with Guidance at the Organization Level for Quantification and Reporting of Greenhouse Gas Emissions and Removals. Where relevant, the inventory is aligned with industry or sector best practice for emissions measurement and reporting

GHG emissions and energy use for period 01 January 2024 to 31 December 2024
Current reporting year 01 January 2024 to 31 December 2024

Energy consumption used to calculate emissions (kWh) 12,533,220.77
Gas (kWh) 186,431.11
Electricity (kWh) 296,133.26
Transport fuels (kWh) 12,050,656.40
Other energy sources (Scope 1 & 2) kWh 0.00
Transport fuels (Scope 3) kWh N/A
Emissions from combustion of gas tCO2e (Scope 1) 34.10
Emissions from combustion of fuel for transport purposes tCO2e (Scope 1) 3,042.20
Emissions from business travel in rental cars or employee-owned vehicles
where company is responsible for purchasing of the fuel tCO2e (Scope 3) N/A
Emissions from purchased electricity tCO2e (Scope 2, location-based) 61.31


J McCann & Co Limited (Registered number: 08326109)

Strategic Report
for the year ended 31 December 2024

STRATEGY
J McCann & Co Ltd’s strategy is focused on sustainable growth, operational resilience, and delivering long-term value to all stakeholders. Our approach in 2024 has been shaped by both opportunities and challenges, particularly the need to recover from the ransomware attack that impacted our financial and payroll systems.

1. Strengthening Business Resilience
In response to the cyberattack, the company has taken decisive actions to improve its cybersecurity framework and operational continuity:
- Cybersecurity Enhancements - Investing in advanced security measures, including stronger data encryption, improved system monitoring, and enhanced employee cybersecurity training.
- Data Recovery & Risk Management - Successfully recreating lost financial and payroll data while implementing new backup and recovery protocols to mitigate future risks.
- Regulatory Compliance - Ensuring compliance with data protection laws and governance best practices to safeguard business integrity.

2. Driving Sustainable Growth
Despite the operational setbacks, J McCann & Co Ltd remains focused on growth and expansion in key markets:
- Market Diversification - Identifying new opportunities in adjacent markets to reduce dependence on single revenue streams.
- Customer-Centric Approach - Strengthening client relationships through improved service delivery, transparency, and digital transformation.
- Operational Efficiency - Streamlining processes to enhance productivity and cost-effectiveness, with a focus on leveraging technology for improved efficiency.

3. Investing in People & Culture
Employees are the backbone of our success, and we remain committed to attracting, developing, and retaining top talent:
- Workforce Development
Continued investment in training, career progression, and employee well-being.
- Employee Support
Ensuring all staff were supported during the data recovery process, particularly in payroll and HR matters. We continue to provide a Company specific benefit package to all employees, including high street discounts, access to support services and the like through a integrated employee support system.
- Enhancing Workplace Culture
Promoting a collaborative, innovative, and inclusive work environment.
- Attracting and Maintaining Employees
We offer an exciting package for all employees and tailor individual offers for each employee to take reconcile the business needs with those of the employee.

4. ESG & Sustainability Commitment
J McCann & Co Ltd remains dedicated to sustainability and responsible business practices:
- Environmental Initiatives
Reducing our carbon footprint through energy efficiency measures and sustainable sourcing.
- Community Engagement
Strengthening corporate social responsibility efforts to support local communities and industry partnerships.
- Governance & Ethics
Upholding the highest standards of corporate governance to build trust and accountability.


J McCann & Co Limited (Registered number: 08326109)

Strategic Report
for the year ended 31 December 2024

BUSINESS ENVIRONMENT
J Mccann & Co Ltd are based in Nottingham and with strategically based regional offices we are best placed to delivery of a first rate, comprehensive service, throughout the country. With a large, highly skilled, directly employed workforce, supported by an extensive specialised plant fleet we can take on and deliver the most demanding of projects to programme and budget.
We provide our clients with integrated infrastructure solutions that meet business needs and exceeds expectations each and every time. We are a key player in creating and maintaining essential elements of the country's infrastructure and by doing so efficiently, offer a first-class service to all our clients.
We have developed a wide range of specialist contracting services to support the successful delivery of major infrastructure projects throughout the UK. As a leading supplier and installer of street lighting, traffic signs, signals, communication systems and associated civil engineering we can also play a key role in the development of project design and buildability whilst working comfortably within a wide range of contractual arrangements.

OUTLOOK FOR 2025 AND BEYOND
Looking ahead, J McCann & Co Ltd is committed to:
- Expanding market presence through innovation and strategic partnerships.
- Strengthening stakeholder engagement and long-term financial stability.
- Despite challenges, the company remains well-positioned for sustainable growth and continued success in the years ahead.

ON BEHALF OF THE BOARD:





J J McCann - Director


31 July 2025

J McCann & Co Limited (Registered number: 08326109)

Report of the Directors
for the year ended 31 December 2024

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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of civil and electrical engineering operating throughout the UK on major road, rail and airport infrastructure projects for public and private sector clients.

DIVIDENDS
No dividends will be 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.

J J McCann
A Kelsey
C Lancaster
A Cronin

POLITICAL DONATIONS AND EXPENDITURE
All donations made during the year were non-political charitable donations.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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 of the profit or loss of the company 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;
-state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements;
-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 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.

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 company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

J McCann & Co Limited (Registered number: 08326109)

Report of the Directors
for the year ended 31 December 2024


AUDITORS
The auditors, Clayton & Brewill, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



J J McCann - Director


31 July 2025

Report of the Independent Auditors to the Members of
J McCann & Co Limited

Opinion
We have audited the financial statements of J McCann & Co Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 company's affairs as at 31 December 2024 and of its 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 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 directors are responsible for the other information. The other information comprises the information in the 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 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 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
J McCann & Co Limited


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 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 eight, 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 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.

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:

- Enquiry of management and those charged with governance around actual and potential litigation and claims;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

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
J McCann & Co 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.




Doug Perry FCA (Senior Statutory Auditor)
for and on behalf of Clayton & Brewill
Statutory Auditors and
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

31 July 2025

J McCann & Co Limited (Registered number: 08326109)

Statement of Comprehensive
Income
for the year ended 31 December 2024

2024 2023
Notes £    £    £    £   

TURNOVER 82,894,375 68,171,236

Cost of sales 73,944,580 58,882,891
GROSS PROFIT 8,949,795 9,288,345

Administrative expenses 7,208,026 5,821,263
1,741,769 3,467,082

Other operating income 27,166 130,211
OPERATING PROFIT 5 1,768,935 3,597,293

Income from fixed asset investments 4 -
Interest receivable and similar income 60,639 275
60,643 275
1,829,578 3,597,568

Interest payable and similar expenses 6 150,813 200,349
PROFIT BEFORE TAXATION 1,678,765 3,397,219

Tax on profit 7 555,102 868,218
PROFIT FOR THE FINANCIAL YEAR 1,123,663 2,529,001

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,123,663

2,529,001

J McCann & Co Limited (Registered number: 08326109)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 4,244,954 4,904,572

CURRENT ASSETS
Debtors 9 13,696,457 10,819,328
Cash at bank 6,504,322 5,928,418
20,200,779 16,747,746
CREDITORS
Amounts falling due within one year 10 18,511,938 16,649,467
NET CURRENT ASSETS 1,688,841 98,279
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,933,795

5,002,851

CREDITORS
Amounts falling due after more than
one year

11

(1,410,594

)

(1,805,530

)

PROVISIONS FOR LIABILITIES 15 (786,503 ) (584,286 )
NET ASSETS 3,736,698 2,613,035

CAPITAL AND RESERVES
Called up share capital 16 100 100
Retained earnings 17 3,736,598 2,612,935
SHAREHOLDERS' FUNDS 3,736,698 2,613,035

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2025 and were signed on its behalf by:





J J McCann - Director


J McCann & Co Limited (Registered number: 08326109)

Statement of Changes in Equity
for the year ended 31 December 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 100 83,934 84,034

Changes in equity
Total comprehensive income - 2,529,001 2,529,001
Balance at 31 December 2023 100 2,612,935 2,613,035

Changes in equity
Total comprehensive income - 1,123,663 1,123,663
Balance at 31 December 2024 100 3,736,598 3,736,698

J McCann & Co Limited (Registered number: 08326109)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

J McCann & Co 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 Company Information page.

2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis by the directors. This reflects the improved trading performance, ongoing forecasts for future years and the continued support of the company's bankers and creditors.
A positive future order books helps to underpin the confidence with these forecasts and cash position.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

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

Revenue on contracts is valued on a contract by contract basis. When the outcome of a contract can be estimated reliably contract revenue and costs are recognised by reference to the degree of completion of each contract as measured by the proportion of total costs at the balance sheet date to the estimated total cost of the contract. When the outcome of a contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred, where it is probable these costs will be recovered.

When it is probable that the total contract costs will exceed total contract revenue, the expected loss is recognised immediately. Contract costs are recognised as an expense in the period in which they are incurred.

Where costs incurred plus recognised profits less recognised losses exceed progress billings, the balance is shown as amounts recoverable on contracts within debtors. Where progress billings exceed costs incurred plus recognised profits less recognised losses, the balance is shown as deferred income within creditors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% reducing balance
Computer equipment - 33% on cost


J McCann & Co Limited (Registered number: 08326109)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

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

Current or deferred taxation assets and liabilities are not discounted.

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

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

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

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

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

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

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

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

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

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 14,415,978 12,438,274
Social security costs 1,692,006 1,539,485
Other pension costs 367,744 301,229
16,475,728 14,278,988

The average number of employees during the year was as follows:
2024 2023

Administration 79 76
Production 191 169
270 245

J McCann & Co Limited (Registered number: 08326109)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

4. EMPLOYEES AND DIRECTORS - continued

2024 2023
£    £   
Directors' remuneration 698,759 696,809
Directors' pension contributions to money purchase schemes 13,815 5,855

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 240,094 253,788
Pension contributions to money purchase schemes 3,634 1,356

5. OPERATING PROFIT

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

2024 2023
£    £   
Equipment Hire 5,840,359 3,050,357
Premises hire 708,806 622,262
Depreciation - owned assets 282,835 137,539
Depreciation - assets on hire purchase contracts 1,026,870 1,345,787
Profit on disposal of fixed assets (13,165 ) (12,667 )
Auditors' remuneration 34,250 29,800
Auditors' remuneration for non audit work 70,369 63,384

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 160 32,841
Hire purchase 150,653 167,508
150,813 200,349

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 352,885 -

Deferred tax 202,217 868,218
Tax on profit 555,102 868,218

J McCann & Co Limited (Registered number: 08326109)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

7. TAXATION - continued

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

2024 2023
£    £   
Profit before tax 1,678,765 3,397,219
Profit multiplied by the standard rate of corporation tax in the UK
of 25% (2023 - 25%)

419,691

849,305

Effects of:
Expenses not deductible for tax purposes 56,401 42,917
Income not taxable for tax purposes (1 ) (7,040 )
Depreciation in excess of capital allowances 92,362 131,559
Utilisation of tax losses (120,112 ) (1,016,741 )

Deferred tax 202,217 868,218
Group relief (95,456 ) -
Total tax charge 555,102 868,218

8. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 11,304,617 63,191 191,590 93,690 11,653,088
Additions 683,773 - 3,800 - 687,573
Disposals (126,711 ) - (6,342 ) - (133,053 )
At 31 December 2024 11,861,679 63,191 189,048 93,690 12,207,608
DEPRECIATION
At 1 January 2024 6,552,312 55,182 57,032 83,990 6,748,516
Charge for year 1,266,740 3,694 33,537 5,734 1,309,705
Eliminated on disposal (91,222 ) - (4,345 ) - (95,567 )
At 31 December 2024 7,727,830 58,876 86,224 89,724 7,962,654
NET BOOK VALUE
At 31 December 2024 4,133,849 4,315 102,824 3,966 4,244,954
At 31 December 2023 4,752,305 8,009 134,558 9,700 4,904,572

J McCann & Co Limited (Registered number: 08326109)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

8. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2024 9,322,620 168,662 9,491,282
Additions 677,463 - 677,463
Disposals (33,419 ) - (33,419 )
Transfer to ownership (3,597,370 ) - (3,597,370 )
At 31 December 2024 6,369,294 168,662 6,537,956
DEPRECIATION
At 1 January 2024 5,102,352 42,165 5,144,517
Charge for year 995,245 31,625 1,026,870
Eliminated on disposal (19,386 ) - (19,386 )
Transfer to ownership (2,597,796 ) - (2,597,796 )
At 31 December 2024 3,480,415 73,790 3,554,205
NET BOOK VALUE
At 31 December 2024 2,888,879 94,872 2,983,751
At 31 December 2023 4,220,268 126,497 4,346,765

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,951,065 1,261,703
Amounts owed by group undertakings 4,746,661 699,193
Other debtors 38,570 28,894
Amounts recoverable on contracts 6,419,978 8,241,979
VAT - 211,945
Prepayments 540,183 375,614
13,696,457 10,819,328

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 12)
371

-
Hire purchase contracts (see note 13) 925,035 1,346,552
Trade creditors 9,251,338 7,725,499
Tax 352,885 -
Social security and other taxes 589,309 641,276
VAT 32,013 -
Other creditors 289,268 420,797
Accrued expenses 7,071,719 6,515,343
18,511,938 16,649,467

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 13) 1,410,594 1,805,530

J McCann & Co Limited (Registered number: 08326109)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

12. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 371 -

13. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 1,024,589 1,456,908
Between one and five years 1,504,497 1,932,814
2,529,086 3,389,722

Finance charges repayable:
Within one year 99,554 110,356
Between one and five years 93,903 127,284
193,457 237,640

Net obligations repayable:
Within one year 925,035 1,346,552
Between one and five years 1,410,594 1,805,530
2,335,629 3,152,082

Non-cancellable operating leases
2024 2023
£    £   
Within one year 618,773 447,732
Between one and five years 1,141,759 560,751
In more than five years 318,998 8,700
2,079,530 1,017,183

14. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 2,335,629 3,152,082

Amounts due under hire purchase agreements are secured on the assets to which they relate.

J McCann & Co Limited (Registered number: 08326109)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

15. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 786,503 584,286

Deferred
tax
£   
Balance at 1 January 2024 584,286
Provided during year 202,217
Balance at 31 December 2024 786,503

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

17. RESERVES
Retained
earnings
£   

At 1 January 2024 2,612,935
Profit for the year 1,123,663
At 31 December 2024 3,736,598

18. PENSION COMMITMENTS

The company previously operated a defined contribution scheme and contributions were charged in the profit and loss account as they accrue. The charge for the year was £nil (2023 - £1,400).

19. ULTIMATE PARENT COMPANY

McCann Holdings Limited is regarded by the directors as being the company's ultimate parent company.

20. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

21. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J J McCann.