REGISTERED NUMBER: 00419975 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

H. Jarvis Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

C Jarvis

R C Hall

P M Christon

Mrs G Ing

SECRETARY:

G I J Southgate

REGISTERED OFFICE:

Longbeck Trading Estate

Marske By The Sea

Redcar

TS11 6HH

REGISTERED NUMBER:

00419975 (England and Wales)

AUDITORS:

Anderson Barrowcliff Limited

Statutory Auditors

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

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

REVIEW OF BUSINESS

Turnover has decreased this year to £8,777,185 (2023: £11,374,593) and the company made a pre-tax profit of £510,481 (2023: £1,481,810). Net assets have increased to £5,337,020 (2023: £5,005,106).

Price increases from suppliers, continues to impact margins. The current marketplace is extremely competitive with regards to pricing.

The company continues to be restrictive with its customer base based on their type and location.

PRINCIPAL RISKS AND UNCERTAINTIES

In common with other businesses, the company aims to minimize financial risk wherever possible, The measures used include regular monitoring of actual performance and ensuring adequate sources of finance are in place to meet the requirement of the business.

The company's principal financial instruments comprise bank balances, trade creditors and trade debtors to raise funds for, and finance, the company's operations.

The company regularly monitors amounts outstanding for both time and credit limit.

Management continues to consider competitor pressures within the window manufacturing and glazing sector and has done so especially throughout 2024 due to inflationary economic pressures.

The company is not dependant upon any single customer, retaining current customers by continuing to maintain the quality of products and services provided.

KEY PERFORMANCE INDICATORS

The Key Performance Indicators used to measure progress are turnover, gross profit and profit before tax.

Material costs have been closely monitored throughout the year due to inflationary pressures.

Manufacturing and fitting labour form a substantial proportion of the underlying cost base which requires constant monitoring for the maintenance of the company's profitability. In addition to the above stock holding levels are also recorded and used to assess both profitability and liquidity.

FUTURE DEVELOPMENTS

The directors aim to maintain the management policies which have led to the company's profits over recent years.

The directors have continued to monitor staff levels closely and believe the company now has the correct mix and number of employees to meet the turnover goals for the next financial year.

ON BEHALF OF THE BOARD:

Mrs G Ing - Director

23 September 2025

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 the manufacture of PVCu products.

DIVIDENDS

Interim dividends totalling 75p per share were paid on the Ordinary £1 shares during the year.

The total distribution of dividends for the year ended 31 December 2024 will be £50,000 (2023: £150,000).

DIRECTORS

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

C Jarvis

R C Hall

P M Christon

Mrs G Ing

Other changes in directors holding office are as follows:

A Tindale ceased to be a director after 31 December 2024 but prior to the date of this report.

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.

AUDITORS

The auditors, Anderson Barrowcliff Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs G Ing - Director

23 September 2025

Opinion

We have audited the financial statements of H. Jarvis Ltd (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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.

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 three, 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.

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 industry, we have considered applicable laws and regulations which may be fundamental to the company's ability to operate or to avoid a material penalty, and we considered the extent to which non-compliance might have a material effect on the financial statements. We considered management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate manual journal entries to manipulate financial performance, management bias in significant accounting estimates and any significant one-off or unusual transactions.

We discussed among the audit engagement team the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

Auditors' responsibilities for the audit of the financial statements (continued)

Audit procedures performed by the engagement team included:

-

Enquiry of management, those charged with governance and the entity's solicitors around actual and potential litigation and claims.

-

Enquiry of entity staff to identify any instances of non-compliance with laws and regulations.

-

Reviewing minutes of meetings of those charged with governance.

-

Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

-

Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

-

Challenging estimates and judgements made by management in their significant accounting estimates.

-

Revenue recognition; agreeing a sample of revenue transactions to gain assurance over the occurrence and accuracy of revenue and also to ensure revenue has been recognised in the correct period.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Helen Wilson FCA (Senior Statutory Auditor)

for and on behalf of Anderson Barrowcliff Limited

Statutory Auditors

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

23 September 2025

TURNOVER

8,777,185

11,374,593

Cost of sales

6,951,602

8,517,410

GROSS PROFIT

1,825,583

2,857,183

Distribution costs

78,363

90,448

Administrative expenses

1,257,427

1,292,324

1,335,790

1,382,772

OPERATING PROFIT

4

489,793

1,474,411

Interest receivable and similar income

29,107

15,903

518,900

1,490,314

Interest payable and similar expenses

5

8,419

8,504

PROFIT BEFORE TAXATION

510,481

1,481,810

Tax on profit

6

128,567

355,111

PROFIT FOR THE FINANCIAL YEAR

381,914

1,126,699

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

381,914

1,126,699

FIXED ASSETS

Tangible assets

8

883,469

957,617

CURRENT ASSETS

Stocks

9

836,952

822,305

Debtors

10

2,854,855

2,868,255

Cash at bank and in hand

1,727,111

1,640,873

5,418,918

5,331,433

CREDITORS

Amounts falling due within one year

11

827,468

1,104,762

NET CURRENT ASSETS

4,591,450

4,226,671

TOTAL ASSETS LESS CURRENT LIABILITIES

5,474,919

5,184,288

CREDITORS

Amounts falling due after more than one year

12

(13,899

)

(37,182

)

PROVISIONS FOR LIABILITIES

15

(124,000

)

(142,000

)

NET ASSETS

5,337,020

5,005,106

CAPITAL AND RESERVES

Called up share capital

16

200,000

200,000

Share premium

17

100,000

100,000

Retained earnings

17

5,037,020

4,705,106

SHAREHOLDERS' FUNDS

5,337,020

5,005,106

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

Mrs G Ing - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 January 2023

200,000

3,728,407

100,000

4,028,407

Changes in equity

Dividends

-

(150,000

)

-

(150,000

)

Total comprehensive income

-

1,126,699

-

1,126,699

Balance at 31 December 2023

200,000

4,705,106

100,000

5,005,106

Changes in equity

Dividends

-

(50,000

)

-

(50,000

)

Total comprehensive income

-

381,914

-

381,914

Balance at 31 December 2024

200,000

5,037,020

100,000

5,337,020

Cash flows from operating activities

Cash generated from operations

1

568,780

1,601,939

Interest paid

(8,419

)

(8,504

)

Tax paid

(345,567

)

(243,411

)

Net cash from operating activities

214,794

1,350,024

Cash flows from investing activities

Purchase of tangible fixed assets

(41,405

)

(125,848

)

Sale of tangible fixed assets

-

14,499

Interest received

29,107

15,903

Net cash from investing activities

(12,298

)

(95,446

)

Cash flows from financing activities

Capital repayments in year

(66,258

)

(67,380

)

Equity dividends paid

(50,000

)

(150,000

)

Net cash from financing activities

(116,258

)

(217,380

)

Increase in cash and cash equivalents

86,238

1,037,198

Cash and cash equivalents at beginning of year

2

1,640,873

603,675

Cash and cash equivalents at end of year

2

1,727,111

1,640,873

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

£

£

Profit before taxation

510,481

1,481,810

Depreciation charges

115,553

115,120

Profit on disposal of fixed assets

-

(3,274

)

Finance costs

8,419

8,504

Finance income

(29,107

)

(15,903

)

605,346

1,586,257

Increase in stocks

(14,647

)

(45,447

)

Decrease in trade and other debtors

13,400

129,558

Decrease in trade and other creditors

(35,319

)

(68,429

)

Cash generated from operations

568,780

1,601,939

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

1,727,111

1,640,873

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

1,640,873

603,675

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

1,640,873

86,238

1,727,111

1,640,873

86,238

1,727,111

Debt

Finance leases

(103,440

)

66,258

(37,182

)

(103,440

)

66,258

(37,182

)

Total

1,537,433

152,496

1,689,929

1.	STATUTORY INFORMATION

H. Jarvis Ltd 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.

The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

5% on cost

Plant and machinery

-

25% on cost and 10% on cost

Fixtures and fittings

-

33% on cost and 10% on cost

Motor vehicles

-

25% on reducing balance

Where assets are acquired with the aid of specific grants, they are capitalised and depreciated in accordance with the above. The related grants are credited to a deferred capital grant account and are released to the profit and loss over the expected useful economic life of the related asset on a basis consistent with the depreciation policy.

Stocks

Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for the benefit of its employees. Contributions payable to the scheme are charged to the profit and loss on a payments basis.

Leases

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

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

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

1,802,674

1,847,502

Social security costs

160,726

158,108

Other pension costs

54,587

55,646

2,017,987

2,061,256

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

2024

2023

Factory

39

47

Office

19

22

Directors

5

5

63

74

2024

2023

£

£

Directors' remuneration

286,426

277,011

Directors' pension contributions to money purchase schemes

22,783

22,652

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

5

5

Information regarding the highest paid director is as follows:

2024

2023

£

£

Emoluments etc

68,433

66,701

4.	OPERATING PROFIT

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

2024

2023

£

£

Other operating leases

3,731

-

Depreciation - owned assets

115,553

115,120

Profit on disposal of fixed assets

-

(3,274

)

Auditors remuneration

16,000

15,600

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

HP interest

8,419

8,504

6.

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

150,000

349,000

Over provision in prior year

(3,433

)

(589

)

Total current tax

146,567

348,411

Deferred taxation

(18,000

)

6,700

Tax on profit

128,567

355,111

UK corporation tax has been charged at 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:

2024

2023

£

£

Profit before tax

510,481

1,481,810

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.520%)

127,620

348,522

Effects of:

Expenses not deductible for tax purposes

2,429

3,624

Adjustments to tax charge in respect of previous periods

(3,433

)

(589

)

Adjustments to tax charge in respect of current period

1,951

3,160

Rate change

-

394

Total tax charge

128,567

355,111

7.

DIVIDENDS

2024

2023

£

£

Ordinary shares of £1 each

Final

50,000

150,000

8.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

719,202

1,062,659

333,030

220,721

2,335,612

Additions

-

41,405

-

-

41,405

At 31 December 2024

719,202

1,104,064

333,030

220,721

2,377,017

DEPRECIATION

At 1 January 2024

327,403

628,767

295,067

126,758

1,377,995

Charge for year

12,146

70,152

9,764

23,491

115,553

At 31 December 2024

339,549

698,919

304,831

150,249

1,493,548

NET BOOK VALUE

At 31 December 2024

379,653

405,145

28,199

70,472

883,469

At 31 December 2023

391,799

433,892

37,963

93,963

957,617

Included in cost of land and buildings is freehold land of £ 310,099 (2023 - £ 310,099 ) which is not depreciated.

Included in the above note are Motor Vehicles with a net book value of £Nil (2023: £8,238) and Plant & Machinery with a net book value of £217,614 (2023: £256,835) that are financed via hire purchase.