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REGISTERED NUMBER: 00223352 (England and Wales)













STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

JAMES MORTIMER,LIMITED

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


JAMES MORTIMER,LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: Mrs L M Rowley
S R W Rowley
Miss G E Beevers





REGISTERED OFFICE: Unit 13
Pexton Road
Kelleythorpe Industrial Estate
Driffield
East Yorkshire
YO25 9DJ





REGISTERED NUMBER: 00223352 (England and Wales)





AUDITORS: BCO Accountants LLP
Chartered Certified Accountants
and Statutory Auditors
Driffield

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025


The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS
The results for the period and financial position of the company are as shown in the annexed financial statements.

The key financial highlights are as follows:
2025 2024 2023 2022
£    £    £    £   

Turnover 28,885 35,579 42,340 27,303
Gross profit 1,290 1,384 1,543 1,047
Profit before tax 443 602 886 588
Cash reserves 1,900 2,151 2,011 1,790
Net assets 3,106 4,666 4,350 4,557

The directors of the company consider the results for the year to be satisfactory given the difficult trading conditions during the year. The directors made good use of markets to ensure that deals were made on a profitable basis.

The directors expect trading to continue being difficult in the current year in view of the volatility of grain prices but believe they have the experience and asset backing to ensure that the company will be in a position to continue trading profitably.

KEY PERFORMANCE INDICATORS
2025 2024 2023 2022

Growth in Revenue (19)% (16)% 55% 18%

Gross Profit Margin 4% 4% 4% 4%

Net Profit Margin 2% 2% 2% 2%

FUTURE DEVELOPMENTS
In view of the company's continued successful financial results the directors will continue the same business model as previously and expect to continue trading at the same levels as in previous years.


JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL INSTRUMENTS
The company's principal financial instruments comprise of bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds and finance for the company's operations.

Due to the nature of the financial instruments used by the company there is no exposure risk to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of bank current and deposit accounts.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

ON BEHALF OF THE BOARD:





S R W Rowley - Director


4 July 2025

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025


The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITIES
The principal activities of the company in the year under review were those of corn and seed merchants.

DIVIDENDS
Interim dividends of £1,261,707 were paid on the ordinary £1 shares. The directors recommend that no final dividend be paid on these shares.

The total distribution of dividends for the year ended 31 March 2025 will be £1,261,707 (2024 - £119,030).

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

Mrs L M Rowley
S R W Rowley
Miss G E Beevers

Other changes in directors holding office are as follows:

C C K Atkin - resigned 3 July 2024

PURCHASE OF OWN SHARES
On 3 July 2024 the shareholders approved the repurchase and subsequent cancellation of 200 ordinary 'A' shares of £1 each and 80 ordinary 'E' shares of £1 each at a price of £2,155.018 per share. The total cost of the repurchase was £606,150 which has been charged against Other Comprehensive Income.

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;
-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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025


AUDITORS
The auditors, BCO Accountants LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S R W Rowley - Director


4 July 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JAMES MORTIMER,LIMITED


Opinion
We have audited the financial statements of James Mortimer,Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other 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 March 2025 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
JAMES MORTIMER,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 four, 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JAMES MORTIMER,LIMITED


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

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

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to:

- Financial Reporting Standard 102
- Companies Act 2006
- health and safety
- trade assurance schemes

We assessed the risks of material misstatement in respect of fraud through discussions with directors.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above. Enquiries were made of management and we corroborated our enquiries by reviewing the company's health and safety manual and external trade assurance scheme compliance records.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries throughout the year into our audit approach.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud. We considered the risk of fraud to be low. Accounting policies were reviewed and an element of unpredictability was included in our audit procedures.

We consider that the nature, timing and extent of audit procedures performed increases the likelihood of detection of any irregularities.

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.

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.




Nicola Jayne Lyon FCCA (Senior Statutory Auditor)
for and on behalf of BCO Accountants LLP
Chartered Certified Accountants
and Statutory Auditors
Driffield

10 July 2025

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
Notes £    £   

TURNOVER 3 28,884,841 35,578,845

Cost of sales (27,594,828 ) (34,194,549 )
GROSS PROFIT 1,290,013 1,384,296

Administrative expenses (849,344 ) (779,655 )
440,669 604,641

Other operating income 6,212 6,606
OPERATING PROFIT 5 446,881 611,247

Interest receivable and similar income 4,088 62
450,969 611,309

Interest payable and similar expenses 6 (7,599 ) (8,878 )
PROFIT BEFORE TAXATION 443,370 602,431

Tax on profit 7 (135,262 ) (167,969 )
PROFIT FOR THE FINANCIAL YEAR 308,108 434,462

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
Notes £    £   

PROFIT FOR THE YEAR 308,108 434,462


OTHER COMPREHENSIVE INCOME
Purchase of own shares (606,150 ) -
Income tax relating to other
comprehensive income

-

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

(606,150

)

-
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

(298,042

)

434,462

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £   
FIXED ASSETS
Tangible assets 9 1,322,633 2,542,943

CURRENT ASSETS
Stocks 10 215,442 367,355
Debtors 11 2,615,827 2,612,436
Cash at bank and in hand 1,900,131 2,150,833
4,731,400 5,130,624
CREDITORS
Amounts falling due within one year 12 (2,571,074 ) (2,575,589 )
NET CURRENT ASSETS 2,160,326 2,555,035
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,482,959

5,097,978

CREDITORS
Amounts falling due after more than one
year

13

(79,184

)

(119,418

)

PROVISIONS FOR LIABILITIES 17 (298,152 ) (312,908 )
NET ASSETS 3,105,623 4,665,652

CAPITAL AND RESERVES
Called up share capital 18 2,240 2,520
Capital redemption reserve 19 7,060 6,780
Retained earnings 19 3,096,323 4,656,352
SHAREHOLDERS' FUNDS 3,105,623 4,665,652

The financial statements were approved by the Board of Directors and authorised for issue on 4 July 2025 and were signed on its behalf by:




S R W Rowley - Director



Mrs L M Rowley - Director


JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2023 2,520 4,340,920 6,780 4,350,220

Changes in equity
Dividends - (119,030 ) - (119,030 )
Total comprehensive income - 434,462 - 434,462
Balance at 31 March 2024 2,520 4,656,352 6,780 4,665,652

Changes in equity
Reduction in share capital (280 ) - - (280 )
Dividends - (1,261,707 ) - (1,261,707 )
Total comprehensive income - (298,322 ) 280 (298,042 )
Balance at 31 March 2025 2,240 3,096,323 7,060 3,105,623

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

James Mortimer Limited is registered in England and Wales. Its company registration number is 00223352. The company is a private company limited by shares. The registered office of the company is Unit 13, Pexton Road, Kelleythorpe Industrial Estate, Driffield, East Yorkshire, YO25 9DJ. The principal activities of the company in the year under review were that of corn and seed merchants.

2. ACCOUNTING POLICIES

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

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions 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;
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirement of paragraph 33.7.

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.

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

Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Freehold land is not depreciated. Depreciation of other tangible fixed assets is provided on the straight line basis in order to write off the valuation/cost of each asset over its estimated useful life as follows:

Per annum
%
Freehold buildings 5
Plant and machinery7.5
Fixtures, fittings and office equipment10-25
Motor vehicles25

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net estimated selling price less selling costs, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets including trade and other receivables, cash and bank balances are initially recognised at transaction price and subsequently measured at amortised cost.

Basic financial liabilities including trade and other payables and bank loans are initially recognised at transaction price and subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the company.

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

2025 2024
£    £   
Sale of goods 27,123,177 34,191,810
Services 1,761,664 1,387,035
28,884,841 35,578,845

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


4. EMPLOYEES AND DIRECTORS
2025 2024
£    £   
Wages and salaries 615,345 637,907
Social security costs 61,686 55,244
Other pension costs 71,368 89,289
748,399 782,440

The average number of employees during the year was as follows:
2025 2024

Management and administration 6 8
Sales and distribution 16 14
22 22

2025 2024
£    £   
Directors' remuneration 113,978 106,022
Directors' pension contributions to money purchase schemes 33,080 53,512

5. OPERATING PROFIT

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

2025 2024
£    £   
Depreciation - owned assets 433,199 365,380
Profit on disposal of fixed assets (2,750 ) (8,150 )
Auditors' remuneration 14,000 12,000
Auditors' remuneration for non audit work 8,980 3,000
Operating leases 9,938 16,117

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2025 2024
£    £   
Other loan interest 7,417 8,878
VAT interest 29 -
Corporation tax interest 153 -
7,599 8,878

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2025 2024
£    £   
Current tax:
UK corporation tax 150,018 154,731

Deferred tax charge (14,756 ) 13,238
Tax on profit 135,262 167,969

UK corporation tax has been charged at 25% (2024 - 25%).

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:

2025 2024
£    £   
Profit before tax 443,370 602,431
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2024 - 25%)

110,843

150,608

Effects of:
Expenses not deductible for tax purposes 27,562 3,538
Capital allowances in excess of depreciation (2,072 ) -
Depreciation in excess of capital allowances - 13,823
Group loss relief (1,071 ) -

tax
Total tax charge 135,262 167,969

Tax effects relating to effects of other comprehensive income

2025
Gross Tax Net
£    £    £   
Purchase of own shares (606,150 ) - (606,150 )

2024
Gross Tax Net
£    £    £   
Purchase of own shares

On 1 April 2023 the rate of UK corporation tax was increased from 19% to 25%.

The net reversal of deferred tax liabilities expected to occur in the next year is £83,815. This expected reversal is due to the movement in the accelerated capital allowances timing differences.

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


8. DIVIDENDS
2025 2024
£    £   
Ordinary shares of £1 each
Interim 1,261,707 119,030

Included in the above amount is a dividend in specie of £1,215,668 paid to the parent company Severals Holdings Ltd in respect of the transfer of freehold land and buildings.

9. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold and
land and Plant and office Motor
buildings machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 April 2024 1,693,072 1,401,460 64,154 1,100,970 4,259,656
Additions 10,363 157,732 9,177 251,285 428,557
Disposals - - - (34,000 ) (34,000 )
Transfer to group company (1,703,435 ) - - - (1,703,435 )
At 31 March 2025 - 1,559,192 73,331 1,318,255 2,950,778
DEPRECIATION
At 1 April 2024 420,351 679,776 25,525 591,061 1,716,713
Charge for year 67,416 104,176 13,158 248,449 433,199
Eliminated on disposal - - - (34,000 ) (34,000 )
Transfer to group company (487,767 ) - - - (487,767 )
At 31 March 2025 - 783,952 38,683 805,510 1,628,145
NET BOOK VALUE
At 31 March 2025 - 775,240 34,648 512,745 1,322,633
At 31 March 2024 1,272,721 721,684 38,629 509,909 2,542,943

10. STOCKS
2025 2024
£    £   
Raw materials 207,364 155,339
Finished goods 8,078 212,016
215,442 367,355

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 2,472,881 2,498,333
Other debtors 77,172 77,172
Prepayments and accrued income 65,774 36,931
2,615,827 2,612,436

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other loans (see note 14) 40,635 38,275
Trade creditors 1,795,539 1,852,413
Tax 150,018 154,688
Social security and other taxes 14,038 19,708
VAT 46,246 19,637
Other creditors 320,654 345,773
Directors' loan accounts 20,052 75,095
Accruals 183,892 70,000
2,571,074 2,575,589

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Other loans (see note 14) 79,184 119,418

14. LOANS

An analysis of the maturity of loans is given below:

2025 2024
£    £   
Amounts falling due within one year or on demand:
Other loans 40,635 38,275

Amounts falling due between one and two years:
Other loans - 1-2 years 42,292 40,234

Amounts falling due between two and five years:
Other loans - 2-5 years 36,892 79,184

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£    £   
Within one year 13,435 8,291
Between one and five years 9,781 5,068
23,216 13,359

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


16. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Other loans 119,819 157,693

17. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax
Accelerated capital allowances 298,152 312,908

Deferred
tax
£   
Balance at 1 April 2024 312,908
Credit to Income Statement during year (14,756 )
Balance at 31 March 2025 298,152

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
2,240 Ordinary £1 2,240 2,520
(2024 - 2,520 )

On 3 July 2024 the shareholders approved the repurchase and subsequent cancellation of 200 ordinary 'A' shares of £1 each and 80 ordinary 'E' shares of £1 each at a price of £2,155.018 per share. The total cost of the repurchase was £606,150 which has been charged against Other Comprehensive Income.

On 5 December 2024, 200 ordinary 'A' shares of £1 each were reclassified as 200 Ordinary 'B' shares of £1 each, 540 ordinary 'B' shares of £1 each were reclassified as 540 Ordinary 'A' shares of £1 each, 890 Ordinary 'C' shares of £1 each were reclassified as 890 Ordinary 'B' shares of £1 each, 350 Ordinary 'F' shares of £1 each were reclassified as 350 Ordinary 'A' shares of £1each, 30 Ordinary 'G' shares of £1 each were reclassified as 30 Ordinary 'C' shares of £1 each and 30 Ordinary 'H' shares of £1 each were reclassified as 30 Ordinary 'D' shares of £1 each.

On 21 March 2025, the 1,090 Ordinary 'A' shares of £1 each, the 1,090 ordinary 'B' shares of £1 each, the 30 Ordinary 'C' shares of £1 each and the 30 Ordinary 'D' shares of £1 each were reclassified into 2,240 Ordinary shares of £1 each.

The shares have full voting rights, full dividend rights and rights to participate in a capital distribution. They are not redeemable.

JAMES MORTIMER,LIMITED (REGISTERED NUMBER: 00223352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


19. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2024 4,656,352 6,780 4,663,132
Profit for the year 308,108 - 308,108
Dividends (1,261,707 ) - (1,261,707 )
Purchase of own shares (606,430 ) 280 (606,150 )
At 31 March 2025 3,096,323 7,060 3,103,383

20. PENSION COMMITMENTS

The company operates defined contribution pension schemes on behalf of its directors and certain senior employees. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost for the year amounts to £71,368 (2024 - £89,290). Included in creditors at the year end is £1,890 (2024 - £2,136) of outstanding contributions.

21. CAPITAL COMMITMENTS
2025 2024
£    £   
Contracted but not provided for in the
financial statements 273,778 144,785

22. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
2025 2024
£    £   
Sales 4,659 2,846
Purchases 49,859 31,543
Transfers - 75,000
Amount due from related party 77,172 77,172
Amount due to related party - 2,843

Other related parties
2025 2024
£    £   
Sales 21,260,437 28,183,596
Purchases 6,438 5,066
Other services provided 1,494,373 1,171,231
Amount due from related party 1,614,081 1,698,991

23. ULTIMATE CONTROLLING PARTY

At 31 March 2025 James Mortimer Limited was a wholly owned subsidiary of Severals Holdings Ltd.
SSeverals Holdings Ltdis the only group into which these financial statements are consolidated and these
group accounts can be obtained from its registered office UUnit 13, Pexton Road, Kelleythorpe, Driffield, East Yorkshire, YO25 9FR Severals Holdings Ltd iis held under the control of its directors