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

The directors are happy with trading for 2024. Performance to date in 2025 is strong.

The trend towards internet shopping, in general, continues however there remains a significant preference to shop in store within the motorcycle industry.

Trading conditions are difficult as many internet retailers discount heavily and price matching with reduced margins is necessary to compete. This is combatted by a strong purchasing ethos to minimise purchase cost whilst maintaining quality in order to maximise profitability.

War in Ukraine

The war in Ukraine is continuing to disrupt world markets

As described in the report last year it is evident that the cost-of-living crisis as a result of energy supply restrictions and cost hikes is still with us.

There is, however, little or no evidence of customer anxiety and the company continues to experience healthy trading. There exists, however, a potential for a recession along with significant RPI increases, which may combine to create a less positive trading environment in the near future.

Brexit

Disruption and pricing issues experienced in 2022 and 2023 are still evident but to a much lesser degree. Trading has possibly benefitted from being outside the EU as a greater degree of uncertainty now exists for customers thinking of buying from abroad.

The company continues to monitor trading on a daily basis and will react appropriately as circumstances dictate.

Supply chains

Labour shortages no longer pose a difficulty. The hugely increased shipping costs experienced in 2021 and 2022 are returning back towards normal. It is, however, anticipated that costs will not return to previous levels but will remain manageable, although 2024 is experiencing a moderate hike in shipping costs as container companies seek to restrict supply but maintain their margins.

Disruption at ports has largely disappeared.

UK Tax changes

Changes proposed and suggested in taxation legislation by the current government may result in greater uncertainty abut future disposable income for individuals, which may in turn have an effect upon the trading of the company.

In its day to day operations the company's management measures its performance using the following key performance indicators:

Sales of clothing and accessories via retail outlets and the internet

Gross margin % achieved on clothing and accessories sales.

Stock days

On an annual basis the following key performance indicators are measured:

Overhead areas as % of turnover

Total energy consumed by the company’s direct operations.

Emissions intensity is calculated - being total CO2 emissions expressed as a percentage of our chosen metric, £m turnover.

The directors have acted in a way that they consider, in good faith, to be most likely to promote the success of the company for the benefit of its members as a whole, and in doing so have regard, amongst other matters, to:

• The likely consequences of any decision in the long term,

• The interests of the company's employees.

• The need to foster the company's business relationships with suppliers, customers and others,

• The impact of the company's operations on the community and the environment,

• The desirability of the company maintaining a reputation for high standards of business conduct, and;

• The need to act fairly as between members of the company.

No further outlets were acquired during the year however the company continues to review the proximity of competitors and review the potential opportunities in areas of the country where J&S Accessories are not represented.

In March 2025 a new shop was opened in Cardiff.

In July 2025 the Preston shop ceased trading as the lease had ended and the premises were considered too small. Operations were moved to a much larger shop in nearby Leyland where trading to-date has been strong.

In September 2025 in anticipation of the lease ending an opportunity arose to move the Oxford shop to a better nearby location in Abingdon.

As always, the directors would like to thank the company’s employees for their effort and commitment over the past year and acknowledge their essential role in arriving at these results.

On behalf of the board

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

The principal activity of the company during the year was the retail of motor cycle clothing and accessories.

The results for the year are set out on page 10.

Dividend were paid amounting to £4,929,229. A further £30,000 was paid after the year end.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably.

The company finances its operations through a mixture of cash and reinvestment of net income. The company has minimal exposure to interest rate risks.

The company has limited exposure to translation and transaction foreign exchange risk and do not consider this to have a significant impact on its operations, however derivative instruments may be used to mitigate risk in appropriate circumstances.

The company does not offer credit to customers other than to city councils, police forces and the fire brigade. Credit risk exposure is minimal.

The necessity for, and importance of, good communication with all employees is recognised and practiced by the company.

Statement of engagement with suppliers, customers and others in a business relationship with the company

The directors recognise the importance of key stakeholder relationships for the business, and as required by section 172(1) of the Companies Act, they consider these relationships whenever necessary. Regular directors’ meetings with senior managerial staff consider the implications of key business decisions on suppliers, customers and employees.

Riverside Accountancy Lancaster Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

The table below contains the company’s annual energy consumption, associated relevant greenhouse gas emissions and additional related information, as required under the Companies (Directors’ Report) and Limited Liability Partnerships (Energy and carbon Report) Regulations 2018.

The methodology applied to the calculation of greenhouse gas emissions is the ‘GHG Protocol Corporate Accounting and Reporting Standard’. Emissions are reported as CO2e. Both ‘location- based and market-based electricity emissions have been reported. An ‘operational control’ boundary has been applied.

The table shows the total annual UK energy use for the consumption of natural gas, electricity, heating oil and transport fuel for the period 1st January to 31st December in respective years. Scope 1 emissions are generated from natural gas, heating oil and transport fuel used for business purposes. Scope 2 emissions are generated from purchased electricity.

Emissions Intensity is included using the chosen metric of £m turnover thus enabling ongoing annual comparison.

The company strives to maximise its energy efficiency. Wherever possible company vehicles are electric powered. A large solar installation is utilised at the company’s Northwich store / head office. Further solar installations are being considered for outlets where the property is owned by the group. In all outlets efficient LED lighting is installed.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

The directors are responsible for preparing the annual 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 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;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• 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.

We have audited the financial statements of J & S Accessories Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's 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 our 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.

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.

As explained more fully in the directors' responsibilities statement, 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.

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 auditor's 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.

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

• Review of directors minutes and review of nominal postings for legal and professional fees ensured we identified any regulatory compliance issues and laws that company must follow in the year and to the date of signing the financial statements

• The assessment of fraud was consider as low due to the segregation of duties seen and the regular reporting required of the company to its parent. A review of journal entries and consideration of their appropriateness was carried out through the audit

• During the audit we speak to management, test the systems and speak to various members of the finance function to understand the entity its processes and the nature of trade to assist in determining if the financial statements are true and fair.

• Challenging assumptions made by management in making their significant accounting estimates.

• Reviewing financial statement disclosure and testing to supporting documentation to assess compliance with applicable laws and regulations

• Stock is a material balance on the balance sheet, we performance multiple stock takes at the year end to reconcile to the financial statements. We review and contest the stock provision that’s provided in the accounts.

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 auditor's 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.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

J & S Accessories Limited is a private company limited by shares incorporated in England and Wales. The registered office is Chester Road, Oakmere, Northwich, Cheshire, CW8 2HB.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of 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 prepared under the historical cost convention, . The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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 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.

Gift voucher revenue is recognised at the time of the purchase rather than when redeemed for goods or services. Any VAT is also recognised and paid over at this point.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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.

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).

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 statement of financial position when the company becomes party to the contractual provisions of the instrument.

Short term debtors are measured at transaction price, less any impairment.

Short term creditors are measured at the transaction price.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

The 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. 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 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.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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.

An analysis of the company's turnover is as follows:

The average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2023 - 2).

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

A resolution was passed on 29 October 2024 to rename all existing A, B, C and D classes of shares as Ordinary shares. No dividends were paid after this date.

The loans and overdrafts are secured by fixed charges over the assets of the company. The newest charge is dated 29 October 2024 and along with another charge dated 6 February 2024 both are still outstanding at the audit signing date, all older charges have been satisfied in full.

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

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

A resolution was passed on 29 October 2024 to rename all existing A, B, C and D shares as Ordinary shares.

Equity reserve - being a revaluation reserve

Profit and loss account - the reserve records retained earnings and accumulated losses

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

As a 31 December 2024 £99,482 (2023 - £286,750) was due to the company by J&S Retail Properties Limited, £464,201 (2023 - 337,527) was owed to J&S Doncaster Properties Limited and £153,251 (2023 - £134,680) was owed to Outdoor Sports Hub Limited.

Following a company restructure during the year, as at 31 December 2024 £7,524 was owed to the company by J&S Group Properties Limited and £737,949 was owed by J&S Doncaster Holdings Limited.

As at 31 December 2024 £1,119,632 was owed to the directors in the form of interest free loans (2023 - £191,845)

The parent company is J&S Group Holdings Limited a company registered in England and Wales. The registered office is Chester Road, Oakmere, Northwich, Cheshire, CW8 2HB. Consolidated accounts can be found at Companies House.

The ultimate controlling party is Peter Cook through his shareholding in J&S Group Holdings Limited.

A restatement was made to change the presentation of a bank account.