REGISTERED NUMBER: SC250304 (Scotland)

Group Strategic Report,

Report of the Director and

Consolidated Financial Statements

for the Year Ended

31 December 2024

for

JORDAN MANAGEMENT LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTOR:

B A Jordan

REGISTERED OFFICE:

27 Carfin Industrial Estate

Carfin

Motherwell

ML1 4UL

REGISTERED NUMBER:

SC250304 (Scotland)

AUDITORS:

WDM Associates (Statutory Auditors)

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

The director presents his strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS

The company is an electrical contractor working primarily on new build housing sites with national housebuilders.

The business performed well during a challenging year. Increasedi interest rates and cost of living pressures have reduced demand for new housing. Sites are being completed now in a more staged way . Income continues to be split between a number of national housebuilders. Turnover increased by 16% during the year.The company recorded a profit before tax of £1,336,110, a 32% increase on 2023, which the directors consider to be satisfactory.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors view the principal risks to the business as being related to macro economic issues. Demand currently remains strong with inflationary pressure on costs reducing. A lack of skilled electricians is the main areas of of concern outwith macro economic pressures.Reducing interest rates should have an impact on the demand for new housing which, combined with planned planning reform, will increase the number of new homes being built.

The directors believe that the company's healthy reserves, diversity of customers, focus on maintaining excellent customer relations and a commitment to excellence puts them in a strong position to withstand any economic downturn.

KEY PERFORMANCE INDICATORS

The directors monitor performance by focusing on some Key Performance Indicators which include sales, gross profit and net profit. In addition profit by site, staff retention and cash flow are closely monitored . The directors remain closely involved with pricing contracts and monitoring costs allowing them to monitor site profitability.

FUTURE DEVELOPMENTS

The group will continue to focus on the new build housing market.

ON BEHALF OF THE BOARD:

B A Jordan - Director

25 September 2025

The director presents his report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of electrical contractors.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTOR

B A Jordan held office during the whole of the period from 1 January 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, WDM Associates (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

B A Jordan - Director

25 September 2025

Opinion

We have audited the financial statements of Jordan Management Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 December 2024 and of the group's 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 group 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 director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Director 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the construction sector;

We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

To address the risk of fraud through management bias and override of controls, we:

Performed analytical procedures to identify any unusual or unexpected relationships;

Tested journal entries to identify unusual transactions;

Investigated the rationale behind significant or unusual transactions;

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Agreeing financial statement disclosures to underlying supporting documentation;

Reading the minutes of meetings of those charged with governance;

Enquiring of management as to actual and potential litigation and claims;

Reviewing correspondence with HMRC, relevant regulators and the company’s legal advisors; and

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

Dawn White (Senior Statutory Auditor)

for and on behalf of WDM Associates (Statutory Auditors)

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

25 September 2025

TURNOVER

18,607,030

16,016,685

Cost of sales

(16,341,502

)

(14,103,525

)

GROSS PROFIT

2,265,528

1,913,160

Administrative expenses

(1,001,694

)

(939,140

)

1,263,834

974,020

Other operating income

16,799

34,777

OPERATING PROFIT

4

1,280,633

1,008,797

Interest receivable and similar income

55,478

-

PROFIT BEFORE TAXATION

1,336,111

1,008,797

Tax on profit

5

(359,408

)

(267,663

)

PROFIT FOR THE FINANCIAL YEAR

976,703

741,134

Profit attributable to:

Owners of the parent

976,703

741,134

PROFIT FOR THE YEAR

976,703

741,134

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

976,703

741,134

Total comprehensive income attributable to:

Owners of the parent

976,703

741,134

FIXED ASSETS

Intangible assets

8

-

-

Tangible assets

9

452,169

438,308

Investments

10

-

-

Investment property

11

67,638

67,638

519,807

505,946

CURRENT ASSETS

Stocks

12

2,054,684

1,946,902

Debtors

13

4,076,722

4,067,802

Cash at bank and in hand

6,135,224

5,023,358

12,266,630

11,038,062

CREDITORS

Amounts falling due within one year

14

(1,288,264

)

(1,026,409

)

NET CURRENT ASSETS

10,978,366

10,011,653

TOTAL ASSETS LESS CURRENT LIABILITIES

11,498,173

10,517,599

PROVISIONS FOR LIABILITIES

15

(110,396

)

(106,525

)

NET ASSETS

11,387,777

10,411,074

CAPITAL AND RESERVES

Called up share capital

16

83

83

Capital redemption reserve

17

17

17

Retained earnings

17

11,387,677

10,410,974

SHAREHOLDERS' FUNDS

11,387,777

10,411,074

The financial statements were approved by the director and authorised for issue on 25 September 2025 and were signed by:

B A Jordan - Director

FIXED ASSETS

Intangible assets

8

-

-

Tangible assets

9

-

-

Investments

10

4,466,902

4,466,902

Investment property

11

-

-

4,466,902

4,466,902

CURRENT ASSETS

Cash in hand

100

100

CREDITORS

Amounts falling due within one year

14

(19

)

(4,375,857

)

NET CURRENT ASSETS/(LIABILITIES)

81

(4,375,757

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,466,983

91,145

CAPITAL AND RESERVES

Called up share capital

16

83

83

Capital redemption reserve

17

17

Retained earnings

4,466,883

91,045

SHAREHOLDERS' FUNDS

4,466,983

91,145

Company's profit for the financial year

4,375,838

40,000

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 25 September 2025 and were signed by:

B A Jordan - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2023

83

9,709,840

17

9,709,940

Changes in equity

Dividends

-

(40,000

)

-

(40,000

)

Total comprehensive income

-

741,134

-

741,134

Balance at 31 December 2023

83

10,410,974

17

10,411,074

Changes in equity

Total comprehensive income

-

976,703

-

976,703

Balance at 31 December 2024

83

11,387,677

17

11,387,777

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2023

83

91,045

17

91,145

Changes in equity

Dividends

-

(40,000

)

-

(40,000

)

Total comprehensive income

-

40,000

-

40,000

Balance at 31 December 2023

83

91,045

17

91,145

Changes in equity

Total comprehensive income

-

4,375,838

-

4,375,838

Balance at 31 December 2024

83

4,466,883

17

4,466,983

Cash flows from operating activities

Cash generated from operations

1

1,464,181

793,271

Tax paid

(272,795

)

(241,480

)

Net cash from operating activities

1,191,386

551,791

Cash flows from investing activities

Purchase of tangible fixed assets

(194,961

)

(114,845

)

Sale of tangible fixed assets

16,210

-

Interest received

55,478

-

Net cash from investing activities

(123,273

)

(114,845

)

Cash flows from financing activities

Amount withdrawn by directors

43,753

-

Loans to associated companies

-

(1,000,000

)

Equity dividends paid

-

(40,000

)

Net cash from financing activities

43,753

(1,040,000

)

Increase/(decrease) in cash and cash equivalents

1,111,866

(603,054

)

Cash and cash equivalents at beginning of year

2

5,023,358

5,626,412

Cash and cash equivalents at end of year

2

6,135,224

5,023,358

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

2024

2023

£

£

Profit before taxation

1,336,111

1,008,797

Depreciation charges

158,112

145,776

Loss on disposal of fixed assets

6,779

-

Finance income

(55,478

)

-

1,445,524

1,154,573

Increase in stocks

(107,783

)

(139,055

)

Increase in trade and other debtors

(8,920

)

(171,068

)

Increase/(decrease) in trade and other creditors

135,360

(51,179

)

Cash generated from operations

1,464,181

793,271

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

6,135,224

5,023,358

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

5,023,358

5,626,412

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

5,023,358

1,111,866

6,135,224

5,023,358

1,111,866

6,135,224

Total

5,023,358

1,111,866

6,135,224

1.	STATUTORY INFORMATION

Jordan Management Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the General Information page.

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.

Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Jordan Management Limited together with the trading subsidiary, Jordan Electrics Limited.

All financial statements are made up to 31 December 2024. Where necessary adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra -group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation.

Related party exemption

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

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover

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

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably

- it is probable that the Company will receive the consideration due

- the costs incurred can be measured reliably

- the revenue is recognised according to the stage of completion on the contract by reference to valuations agreed with customers.

Goodwill

Goodwill represents the difference between the cost of a business combination and the Group's interest in the fair value of the identifiable assets and liabilities of the acquiree at the acquisition date. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.

Goodwill is amortised on a straight line basis over its useful economic life. This is assessed individually for each acquisition with 10 years used as standard.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Basic financial instruments

Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

4,916,015

4,162,925

Social security costs

421,993

361,574

Other pension costs

103,059

91,859

5,441,067

4,616,358

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

2024

2023

Electricians

121

91

Management

5

5

Administration

6

5

132

101

2024

2023

£

£

Director's remuneration

129,813

146,867

4.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Depreciation - owned assets

158,111

145,776

Loss on disposal of fixed assets

6,779

-

Auditors' remuneration

14,000

13,000

5.

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

355,537

272,795

Deferred tax

3,871

(5,132

)

Tax on profit

359,408

267,663

6.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

7.

DIVIDENDS

2024

2023

£

£

Ordinary shares of £1 each

Interim

-

40,000

8.	INTANGIBLE FIXED ASSETS

Group

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

1,966,802

AMORTISATION

At 1 January 2024

and 31 December 2024

1,966,802

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-