John F. Stott Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

John F. Stott Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00817224 . The registered office is 137 Chorley Road, Swinton, Manchester, M27 4AE.

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 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

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

The financial statements have been presented for the year ended 31 December 2024. The comparative period was 17 months ended 31 December 2023. The accounting reference date was changed to agree with the calendar year for internal reporting purposes.

2.2. Turnover

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

Revenue from the sale of goods is recognised when the company has supplied products to the patient.

Revenue from contracts for the provision services is recognised as those services are provided to patients.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill represents the amount arising in connection with the merger of a business in 2009 and the incorporation of another branch in 2024. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life of between 5 and 20 years..

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	Straight line of the 50 years
Leasehold	Over the duration of the lease
Plant & Machinery	20-25% on reducing balance
Motor Vehicles	25% on reducing balance
Fixtures & Fittings	15-25% on reducing balance

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.

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John F. Stott Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

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, those overheads that have been incurred in bringing the stocks to their present location and condition.

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

2.7. Financial Instruments

2.8. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 50 (2023: 50)

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John F. Stott Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	396,000
Additions	60,000

As at 31 December 2024	456,000

Amortisation
As at 1 January 2024	262,775
Provided during the period	64,500

As at 31 December 2024	327,275

Net Book Value
As at 31 December 2024	128,725

As at 1 January 2024	133,225

5. Tangible Assets

	Land & Buildings	Plant & Machinery etc.	Total
	£	£	£
Cost
As at 1 January 2024	230,000	1,603,095	1,833,095
Additions	-	130,566	130,566

As at 31 December 2024	230,000	1,733,661	1,963,661

Depreciation
As at 1 January 2024	-	1,333,775	1,333,775
Provided during the period	-	89,615	89,615

As at 31 December 2024	-	1,423,390	1,423,390

Net Book Value
As at 31 December 2024	230,000	310,271	540,271

As at 1 January 2024	230,000	269,320	499,320

If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:

	Land & Property
	Freehold
	£
Cost	70,005
Accumulated depreciation and impairment	2,584

Carrying amount	67,421

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John F. Stott Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Debtors

	31 December 2024	31 December 2023
	£	£
Due within one year
Trade debtors	28,304	12,127
Amounts owed by group undertakings	240,244	131,704
Other debtors	37,441	154,558

	305,989	298,389

7. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 December 2023
	£	£
Trade creditors	145,766	103,753
Bank loans and overdrafts	29,492	5,700
Other creditors	149,031	128,995
Taxation and social security	97,233	112,590

	421,522	351,038

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

	31 December 2024	31 December 2023
	£	£
Bank loans - long term	21,292	27,048
Other creditors	96,709	116,566

	118,001	143,614

Bank loans are unsecured. Where assets have been purchased under hire purchase contracts the borrowings are secured on the assets purchased.

9. Share Capital

	31 December 2024	31 December 2023
	£	£
Allotted, Called up and fully paid	5,120	5,120

10. Other Commitments

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

	31 December 2024	31 December 2023
	£	£
Later than one year and not later than five years	293,188	425,531

	293,188	425,531

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John F. Stott Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Reserves

	Revaluation Reserve
	£
As at 1 January 2024	154,572

As at 31 December 2024	154,572

The revaluation reserve represents the difference between the historical cost of the freehold property and the carrying amount at the period end.

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		31 December 2024		31 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		128,725		133,225
Tangible Assets	5		540,271		499,320

			668,996		632,545
CURRENT ASSETS
Stocks		243,006		213,719
Debtors	6	305,989		298,389
Cash at bank and in hand		14,351		7,968

		563,346		520,076
Creditors: Amounts Falling Due Within One Year	7	(421,522 )		(351,038 )

NET CURRENT ASSETS (LIABILITIES)			141,824		169,038

TOTAL ASSETS LESS CURRENT LIABILITIES			810,820		801,583

Creditors: Amounts Falling Due After More Than One Year	8		(118,001 )		(143,614 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(71,709 )		(63,705 )

NET ASSETS			621,110		594,264

CAPITAL AND RESERVES
Called up share capital	9		5,120		5,120
Revaluation reserve	11		154,572		154,572
Profit and Loss Account			461,418		434,572

SHAREHOLDERS' FUNDS			621,110		594,264

P Houston Director	D Hurst Director
30/05/2025