J H Young Limited

	Page
Strategic Report	1
Directors' Report	2
Independent Auditor's Report	3—5
Profit and Loss Account	6
Balance Sheet	7
Statement of Changes in Equity	8
Cash Flow Statement	9
Notes to the Cash Flow Statement	10
Notes to the Financial Statements	11—19

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

Review of the Business

Fair review of the business

The year ended 31 December 2024 achieved the directors’ expectation in terms of turnover and profitability, based on the difficult trading conditions, with turnover being materially unchanged.

The supply of materials has been challenging with both increased prices and availability being impacted. The price increases experience last year continued within this year, which resulted in a gross profit margin achieved of 20.30%. The directors have continued to monitor and direct the purchasing processes in order to manage and alleviate this issue. The company is a member of The National Merchant Buyers Society Limited (NMBS) as a result is able to purchase at the best possible prices through centralised deals negotiated with a large number of both independent and national suppliers.

The staff compliment has remained connstant but with the cost base increasing. The company offers of an attractive package and has managed to attract and retain good quality staff with a limited staff over ratio. This gives the bsuiness a stable base from which to operate.The directors have looked to promote from within and are exploring the training opportunities for all staff to upskill within the organisation.

The business has a balance sheet position to £3,178,309 as at the year end with cash balances increasing to £1,384,151 providing the liquidity for the ongoing development of the business.

The company has also invested in information technology within the last three years upgrading the systems constantly so that the internal controls and processes are as streamlined and as interactive as possible. This has enabled the business to become more efficient and more responsive to customers’ needs.

Principal risks and uncertainties

The availability of stocks and the supply chain remain a constant challenge.

The company offers credit to customers and have remained low due to a holistic approach being undertaken where all customer facing staff are made aware of the credit allocated to customers and are empowered to question non-payment.

Future Developments

The company will continue to invest in its information technology, asset procurement and staff, whilst continuing to manage its working capital requirements closely.

On behalf of the board

Mr Paul Nixon

Director

05/09/2025

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J H Young Limited

Company No. 05584217

Directors' Report For The Year Ended 31 December 2024

Directors' Report

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

Principal Activity

The company's principal activity continues to be that of timber and builders merchants.

Directors

The directors who held office during the year were as follows:

Mr Paul Nixon

Mr John Levitt

Mr Stuart Levitt

Mr Christopher Levitt

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' 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. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

The directors of the company who held office at the date of approval of this annual report confirm that:

so far as they are aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, Magee Gammon Corporate Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr John Levitt

Director

05/09/2025

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Independent Auditor's Report

to the Members of

J H Young Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of J H Young Limited for the year ended 31 December 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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/(loss) 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 United Kingdom, including the Financial Reporting Council'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 entity's ability to continue as a going concern for a period of at least 12 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 Auditors' 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 the audit:

the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

J H Young 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 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:

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 Directors' responsibilities statement set out on page 2, 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 Auditors' 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, we have considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management incentives and opportunities for fraudulent manipulation of the financial statements including management override, and considered that the principal risk was related to the posting of inappropriate journal entries to improve the result before tax for the year.

We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

Procedures performed by the audit team included:

Discussions with management regarding known or suspected instances of non compliance with laws and regulations;
Evaluation of controls designed to prevent and detect irregularities; and
Assessing journal entries as part of our planned audit approach.

There are inherent limitations in the audit procedures described above, and the further removed non compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As in all of our audits we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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 Auditors' report.

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Independent Auditor's Report (continued)

to the Members of

J H Young 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 an Auditors' 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 members, as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew John Childs FCA (Senior Statutory Auditor)

for and on behalf of Magee Gammon Corporate Limited , Statutory Auditor

05/09/2025

Magee Gammon Corporate Limited

Henwood House

Henwood

Ashford

Kent

TN24 8DH

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J H Young Limited

Profit and Loss Account

For The Year Ended 31 December 2024

Profit and Loss Account

		2024	2023
	Notes	£	£
TURNOVER	3	14,499,678	14,720,515
Cost of sales		(11,777,192 )	(11,769,596 )

GROSS PROFIT		2,722,486	2,950,919

Administrative expenses		(2,541,407 )	(2,240,372 )
Other operating income		-	16,827

OPERATING PROFIT	5	181,079	727,374
Income from other fixed asset investments		-	17,402
Profit on disposal of fixed assets		-	10,458
Other interest receivable and similar income	10	40,130	39,569
Interest payable and similar charges	11	(28,699 )	(23,026 )

PROFIT BEFORE TAXATION		192,510	771,777
Tax on Profit	12	(50,735 )	(177,518 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		141,775	594,259

The notes on pages 10 to 19 form part of these financial statements.

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J H Young Limited

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 05584217

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	14		1,023,774		840,891
Investments	15		101,300		101,300

			1,125,074		942,191
CURRENT ASSETS
Stocks	16	1,679,855		1,567,516
Debtors	17	1,624,398		1,734,200
Cash at bank and in hand		1,384,151		1,363,373

		4,688,404		4,665,089
Creditors: Amounts Falling Due Within One Year	18	(2,121,912 )		(1,618,059 )

NET CURRENT ASSETS (LIABILITIES)			2,566,492		3,047,030

TOTAL ASSETS LESS CURRENT LIABILITIES			3,691,566		3,989,221

Creditors: Amounts Falling Due After More Than One Year	19		(297,501 )		(291,584 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	20		(215,756 )		(196,103 )

NET ASSETS			3,178,309		3,501,534

CAPITAL AND RESERVES
Called up share capital	22		100		100
Profit and Loss Account			3,178,209		3,501,434

SHAREHOLDERS' FUNDS			3,178,309		3,501,534

On behalf of the board

Mr Paul Nixon Director	Mr John Levitt Director
05/09/2025

The notes on pages 10 to 19 form part of these financial statements.

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J H Young Limited

Statement of Changes in Equity

For The Year Ended 31 December 2024

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 January 2023	100	3,472,175	3,472,275
Profit for the year and total comprehensive income	-	594,259	594,259

Dividends paid	-	(565,000)	(565,000)

As at 31 December 2023 and 1 January 2024	100	3,501,434	3,501,534


Profit for the year and total comprehensive income	-	141,775	141,775

Dividends paid	-	(465,000)	(465,000)

As at 31 December 2024	100	3,178,209	3,178,309

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J H Young Limited

Cash Flow Statement

For The Year Ended 31 December 2024

Cash Flow Statement

		2024	2023
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	1,027,680	1,264,665
Interest paid		(28,699 )	(23,026 )
Tax paid		(171,672 )	(231,573 )

Net cash generated from operating activities		827,309	1,010,066

Cash flows from investing activities
Purchase of tangible assets		(417,590 )	(256,830 )
Proceeds from disposal of tangible assets		-	18,333
Purchase of other fixed asset investments		-	(100,000 )
Grants received		-	10,000
Interest received		40,130	39,569
Dividends received		-	17,402

Net cash used in investing activities		(377,460 )	(271,526 )

Cash flows from financing activities
Equity dividends paid		(465,000 )	(565,000 )
Repayment of finance leases		35,929	(37,048 )

Net cash used in financing activities		(429,071 )	(602,048 )



Increase in cash and cash equivalents		20,778	136,492
Cash and cash equivalents at beginning of year	2	1,363,373	1,226,881

Cash and cash equivalents at end of year	2	1,384,151	1,363,373

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J H Young Limited

Notes to the Cash Flow Statement

For The Year Ended 31 December 2024

Notes to the Cash Flow Statement

1. Reconciliation of profit for the financial year to cash generated from operations

	2024	2023
	£	£
Profit for the financial year	141,775	594,259
Adjustments for:
Tax on profit	50,735	177,518
Interest expense	28,699	23,026
Interest income	(40,130 )	(39,569 )
Income from investments	-	(17,402)
Depreciation of tangible assets	234,707	229,176
Profit on disposal of tangible assets	-	(10,458)
Grant income	-	(10,000)
Movements in working capital:
(Increase)/decrease in stocks	(112,339 )	25,516
Decrease in trade and other debtors	109,802	226,200
Increase in trade and other creditors	614,431	66,399

Net cash generated from operations	1,027,680	1,264,665

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2024	2023
	£	£
Cash at bank and in hand	1,384,151	1,363,373

3. Analysis of changes in net funds

	As at 1 January 2024	Cash flows	As at 31 December 2024
	£	£	£
Cash at bank and in hand	1,363,373	20,778	1,384,151
Finance leases	(471,752)	(35,929)	(507,681)

	891,621	(15,151)	876,470

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J H Young Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

J H Young Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05584217 . The registered office is 19-23 Hythe Road, Dymchurch, Romney Marsh, Kent, TN29 0LN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods 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.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated 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.

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.

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J H Young Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% Straight Line (Buildings Only)
Leasehold	over 10 years
Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	20% 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.

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.

2.5. Leasing and Hire Purchase Contracts

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

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

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

2.6. Stocks and Work in Progress

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.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

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.

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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J H Young Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. 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.

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.

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, loans from fellow group companies and preference shares 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.

2.9. 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 profit and loss account 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 profit and loss account, 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.

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J H Young Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.10. 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.

Stock provision

Included in the stock value are provisions against the recoverability of stock. This is estimated annually based on the historical turnover of stock with consideration of current and future market conditions.

3. Turnover

Company turnover by geograpical market:

	2024	2023
	£	£
United Kingdom	14,499,678	14,720,515

	14,499,678	14,720,515

4. Other Operating Income

	2024	2023
	£	£
Grant income	-	10,000
Other operating income	-	6,827

	-	16,827

5. Operating Profit

The operating profit is stated after charging:

	2024	2023
	£	£
Bad debts	37,553	43,925
Depreciation of tangible fixed assets	234,707	229,176

6. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2024	2023
	£	£
Audit Services
Audit of the company's financial statements	17,185	12,500

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J H Young Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2024	2023
	£	£
Wages and salaries	1,947,259	1,763,617
Social security costs	189,530	171,356
Other pension costs	136,901	34,751

	2,273,690	1,969,724

8. Average Number of Employees

Average number of employees, including directors, during the year was: 63 (2023: 61)

9. Directors' remuneration

	2024	2023
	£	£
Emoluments	57,302	56,838
Company contributions to money purchase pension schemes	100,000	-

	157,302	56,838

10. Interest Receivable and Similar Income

	2024	2023
	£	£
Bank interest receivable	40,130	39,569
Dividends from other fixed asset investments - unlisted	-	17,402

	40,130	56,971

11. Interest Payable and Similar Charges

	2024	2023
	£	£
Finance charges payable under finance leases and hire purchase contracts	28,699	23,026

12. Tax on Profit

	Tax Rate		2024	2023
The tax charge on the profit for the year was as follows:
	2024	2023	£	£
Current tax
UK Corporation Tax	25.0%	23.5%	31,082	171,672
Deferred Tax
Origination and reversal of timing differences			19,653	5,846


Total tax charge for the period			50,735	177,518


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

...CONTINUED

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J H Young Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

	2024	2023
	£	£
Profit before tax	192,510	771,777

Tax on profit at 25% (UK standard rate)	48,127	181,367
Goodwill/depreciation not allowed for tax	58,677	51,399
Expenses not deductible for tax purposes	2,615	2,961
Capital allowances	(78,330 )	(60,174 )
Prior period adjustment	-	208
Difference in tax rates	(7 )	-
Revenue exempt from taxation	-	(4,089 )

Total tax charge for the period	31,082	171,672

13. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	500,000

As at 31 December 2024	500,000

Amortisation
As at 1 January 2024	500,000

As at 31 December 2024	500,000

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

14. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 January 2024	256,059	629,581	993,047	98,102	1,976,789
Additions	117,235	19,633	280,722	-	417,590

As at 31 December 2024	373,294	649,214	1,273,769	98,102	2,394,379

Depreciation
As at 1 January 2024	142,490	349,118	580,940	63,350	1,135,898
Provided during the period	29,308	62,700	138,147	4,552	234,707

As at 31 December 2024	171,798	411,818	719,087	67,902	1,370,605

Net Book Value
As at 31 December 2024	201,496	237,396	554,682	30,200	1,023,774

As at 1 January 2024	113,569	280,463	412,107	34,752	840,891

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J H Young Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2024	2023
	£	£
Plant & Machinery	101,679	150,470
Motor Vehicles	461,813	319,706

	563,492	470,176

15. Investments

	Unlisted
	£
Cost
As at 1 January 2024	101,300

As at 31 December 2024	101,300

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	101,300

As at 1 January 2024	101,300

16. Stocks

	2024	2023
	£	£
Finished goods	1,679,855	1,567,516

17. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,250,926	1,376,755
Prepayments and accrued income	309,415	317,802
Other debtors	64,057	39,643

	1,624,398	1,734,200

18. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	210,180	180,168
Trade creditors	1,537,894	831,003
Other creditors	177,607	281,941
Corporation tax	31,082	171,672
Taxation and social security	80,396	117,094
Accruals and deferred income	84,753	36,181

	2,121,912	1,618,059

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J H Young Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

19. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	297,501	291,584

Of the creditors falling due within and after more than one year the following amounts are secured on the specifc assets to which the liability relates.

	2024		2023
	£		£
Net obligations under finance lease and hire purchase contracts	507,681		471,752

20. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Other timing differences	215,756	196,103

21. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 January 2024	196,103	196,103
Additions	19,653	19,653

Balance at 31 December 2024	215,756	215,756

22. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

23. Capital Commitments

	2024	2023
	£	£
At the end of the period	174,750	117,235

At the end of the period, the company had capital commitments contracted for but not provided in these financial statements

24. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	388,870	331,572
Later than one year and not later than five years	752,860	799,822
Later than five years	384,584	453,333

	1,526,314	1,584,727

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J H Young Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

25. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £136,901 (2023: £34,751).

At the balance sheet date contributions of £8,419 (2023: £7,269) were due to the fund and are included in creditors.

26. Dividends

	2024	2023
	£	£
On equity shares:
Interim dividend paid	465,000	565,000

27. Related Party Disclosures

The company has leases for some of its premises through a related party pension scheme. The rents have been assessed by an Royal Institute Chartered Surveyor and negotiated on an arms length basis in accordance with the pension scheme rules. The rent payable to the pension scheme was £139,617. (2023: £110,000).

At the balance sheet date, the company owed the directors of the company £145,101 (2023: £230,444). At the balance sheet date the company was also owed £64,057 (2023: £25,963) in respect to monies advanced during the year.

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