REGISTERED NUMBER: 06368224 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

JJC HIRE LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

15

DIRECTOR:

Mr M H Cronje

REGISTERED OFFICE:

Sandscale Park Industrial Estate

Park Road

Barrow in Furness

Cumbria

LA14 4QT

REGISTERED NUMBER:

06368224 (England and Wales)

SENIOR STATUTORY AUDITOR:

Simon Oram MA FCCA

AUDITORS:

Melville & Co

17/18 Trinity Enterprise Centre

Furness Business Park

Ironworks Road

Barrow in Furness

Cumbria

LA14 2PN

BANKERS:

The Royal Bank of Scotland plc

234-236 Dalton Road

Barrow in Furness

Cumbria

INTRODUCTION

This report provides an overview of JJC Hire Ltd.'s performance for the financial year ending 31st January 2025. It builds upon the objectives outlined in the prior year's strategic report and details how the business has performed against those targets. The report also identifies principal risks, achievements and the outlook for the coming year.

BUSINESS MODEL

JJC Hire Ltd operates as a comprehensive waste management and recycling provider, specialising in skip hire, waste collection, recycling and scrap metal recovery for domestic, commercial and industrial clients. Our core model remains centred on operational efficiency, sustainability and customer service excellence. Revenue continues to be derived primarily from skip hire and recycling operations, supplemented by scrap metal and related waste recovery services.

REVIEW OF BUSINESS

The 2024 Strategic Report identified three core aims: expansion into Scotland and the North East, investment in modern fleet technology and renewables and maintaining 95%+ customer retention. During 2025, turnover rose to £36.30m (up £3.0m), customer retention remained 96% and solar panels were installed across depots. A Health and Safety professional was appointed, compliance strengthened and regional presence expanded. Although the results show a pre tax loss of £793k (2024: profit £730k) tax credits received in respect of Research and Development ensured cash flow from operations remained positive.

During the financial year, JJC Hire Ltd.results include:

- Turnover growth: Turnover increased by 9% from £33.6m to £37m. Growth through new contracts.

- Gross Profit: £15.3m from £16.0m. Inflationary impact on core costs.

- Operating (Loss)/Profit: £226k loss from £1.3m profit. Reflects investment and cost pressures.

Key performance indicators (KPIs) for the year include:

- Customer retention rate: 96% Target maintained.

- Headcount: 93 from 82. Operational expansion.

PRINCIPAL RISKS AND UNCERTAINTIES

The business faces risks including market volatility, regulatory change, supply chain pressures and economic conditions. Mitigation strategies include diversification, supplier network expansion and investment in compliance and efficiency.

STRATEGIC OBJECTIVES

Our strategic objectives for 2025-26 are:

- Return to profitability through cost control.

- Expand public sector partnerships.

- Accelerate ESG initiatives.

- Leverage technology for compliance and efficiency.

- Develop workforce capability and retention.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG)

The company continues to embed ESG principles: reducing carbon emissions, strengthening health and safety, investing in training and supporting local sustainability initiatives.

FUTURE OUTLOOK

Despite economic challenges, JJC Hire Ltd remains well positioned for sustainable growth, underpinned by continued investment, efficiency and customer focus.

STATEMENT OF COMPLIANCE

This report has been prepared in accordance the UK Companies Act 2006.

ON BEHALF OF THE BOARD:

Mr M H Cronje - Director

31 October 2025

The director presents his report with the financial statements of the company for the year ended 31 January 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of skip hire and scrap metal merchants.

DIVIDENDS

No dividends will be distributed for the year ended 31 January 2025.

DIRECTOR

Mr M H Cronje held office during the whole of the period from 1 February 2024 to the date of this report.

DIRECTOR'S RESPONSIBILITIES STATEMENT

The director is responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr M H Cronje - Director

31 October 2025

Opinion

We have audited the financial statements of JJC Hire Limited (the 'company') for the year ended 31 January 2025 which comprise the Income Statement, Other 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 January 2025 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 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 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 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 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 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 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 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, 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 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 Director's Responsibilities Statement set out on page four, 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 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 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:

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.

-Enquiry of management, and those charged with governance around actual and potential litigation and claims.

-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.

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. This 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.

Simon Oram MA FCCA (Senior Statutory Auditor)

for and on behalf of Melville & Co

17/18 Trinity Enterprise Centre

Furness Business Park

Ironworks Road

Barrow in Furness

Cumbria

LA14 2PN

31 October 2025

TURNOVER

3

37,011,341

33,626,032

Cost of sales

21,676,807

17,670,587

GROSS PROFIT

15,334,534

15,955,445

Distribution costs

11,135,763

10,052,221

Administrative expenses

5,125,620

5,677,507

16,261,383

15,729,728

(926,849

)

225,717

Other operating income

4

700,829

1,072,205

OPERATING (LOSS)/PROFIT

6

(226,020

)

1,297,922

Interest receivable and similar income

7

5,588

-

(220,432

)

1,297,922

Interest payable and similar expenses

8

573,029

567,947

(LOSS)/PROFIT BEFORE TAXATION

(793,461

)

729,975

Tax on (loss)/profit

9

(806,587

)

772,797

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

13,126

(42,822

)

PROFIT/(LOSS) FOR THE YEAR

13,126

(42,822

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

13,126

(42,822

)

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

14,769,528

15,334,574

14,769,528

15,334,574

CURRENT ASSETS

Stocks

12

15,000

566,837

Debtors

13

2,198,454

1,826,542

Cash at bank and in hand

97,539

113,470

2,310,993

2,506,849

CREDITORS

Amounts falling due within one year

14

5,617,905

5,948,047

NET CURRENT LIABILITIES

(3,306,912

)

(3,441,198

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,462,616

11,893,376

CREDITORS

Amounts falling due after more than one year

15

(3,234,504

)

(4,264,670

)

PROVISIONS FOR LIABILITIES

19

(1,630,439

)

(1,044,159

)

NET ASSETS

6,597,673

6,584,547

CAPITAL AND RESERVES

Called up share capital

20

800,006

800,006

Retained earnings

21

5,797,667

5,784,541

SHAREHOLDERS' FUNDS

6,597,673

6,584,547

The financial statements were approved by the director and authorised for issue on 31 October 2025 and were signed by:

Mr M H Cronje - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2023

800,006

5,827,363

6,627,369

Changes in equity

Total comprehensive income

-

(42,822

)

(42,822

)

Balance at 31 January 2024

800,006

5,784,541

6,584,547

Changes in equity

Total comprehensive income

-

13,126

13,126

Balance at 31 January 2025

800,006

5,797,667

6,597,673

Cash flows from operating activities

Cash generated from operations

1

2,915,960

4,120,430

Interest paid

(75,634

)

(67,147

)

Interest element of hire purchase payments paid

(497,395

)

(500,800

)

Tax paid

649,597

-

Net cash from operating activities

2,992,528

3,552,483

Cash flows from investing activities

Purchase of tangible fixed assets

(2,338,317

)

(6,271,690

)

Sale of tangible fixed assets

685,600

637,572

Interest received

5,588

-

Net cash from investing activities

(1,647,129

)

(5,634,118

)

Cash flows from financing activities

Loan repayments in year

(61,405

)

-

New finance in year

3,271,075

4,041,025

Capital repayments in year

(4,571,000

)

(2,438,619

)

Amount introduced by directors

-

(314,348

)

Government grants

-

165,000

Net cash from financing activities

(1,361,330

)

1,453,058

Decrease in cash and cash equivalents

(15,931

)

(628,577

)

Cash and cash equivalents at beginning of year

2

113,470

742,047

Cash and cash equivalents at end of year

2

97,539

113,470

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.1.25

31.1.24

£

£

(Loss)/profit before taxation

(793,461

)

729,975

Depreciation charges

1,944,541

1,947,398

Loss on disposal of fixed assets

273,222

21,571

Government grants

-

(165,000

)

Finance costs

573,029

567,947

Finance income

(5,588

)

-

1,991,743

3,101,891

Decrease/(increase) in stocks

551,837

(19,693

)

Decrease/(increase) in trade and other debtors

371,358

(2,895

)

Increase in trade and other creditors

1,022

1,041,127

Cash generated from operations

2,915,960

4,120,430

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 January 2025

31.1.25

1.2.24

£

£

Cash and cash equivalents

97,539

113,470

Year ended 31 January 2024

31.1.24

1.2.23

£

£

Cash and cash equivalents

113,470

742,047

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.2.24

Cash flow

At 31.1.25

£

£

£

Net cash

Cash at bank and in hand

113,470

(15,931

)

97,539

113,470

(15,931

)

97,539

Debt

Finance leases

(6,932,937

)

1,299,925

(5,633,012

)

Debts falling due within 1 year

(85,911

)

11,571

(74,340

)

Debts falling due after 1 year

(577,649

)

49,834

(527,815

)

(7,596,497

)

1,361,330

(6,235,167

)

Total

(7,483,027

)

1,345,399

(6,137,628

)

1.	STATUTORY INFORMATION

JJC Hire Limited 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 (£).

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.

The financial statements have been prepared on the going concern basis the director having agreed to continue to support the company.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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.

Number plates are being amortised evenly over their estimated useful life of five years.

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

-

2% on cost

Improvements to property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Rental income

Rents received are calculated on the accruals basis and represents net rental value excluding VAT.

3.

TURNOVER

The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the company.

4.	OTHER OPERATING INCOME

31.1.25

31.1.24

£

£

Rents received

107,234

394,376

Sundry receipts

593,595

512,829

Grants received

-

165,000

700,829

1,072,205

5.	EMPLOYEES AND DIRECTORS

31.1.25

31.1.24

£

£

Wages and salaries

4,996,874

4,196,183

Social security costs

535,749

446,135

Other pension costs

85,828

71,891

5,618,451

4,714,209

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

31.1.25

31.1.24

Directors and management

3

3

Administration

4

4

Operational

86

75

93

82

31.1.25

31.1.24

£

£

Director's remuneration

47,316

43,599

Included in wages is an amount for key management personnel of £156,003 (2023 - £13,000)

6.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging:

31.1.25

31.1.24

£

£

Depreciation - owned assets

1,944,541

1,947,398

Loss on disposal of fixed assets

273,222

21,571

Auditors' remuneration

7,500

7,500

Foreign exchange differences

47

82

The auditors remuneration is fees payable to the company's auditors for the audit of the company's financial statements.

7.

INTEREST RECEIVABLE AND SIMILAR INCOME

31.1.25

31.1.24

£

£

Interest received

5,588

-

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.1.25

31.1.24

£

£

Interest on bank overdraft

2,442

3,792

Interest on bank loans

73,192

60,888

Interest on other loans

-

2,307

Statutory interest and charges

-

160

Interest on hire purchase

497,395

500,800

573,029

567,947

9.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

31.1.25

31.1.24

£

£

Current tax:

UK corporation tax

(1,392,867

)

226,171

Deferred tax

586,280

546,626

Tax on (loss)/profit

(806,587

)

772,797

Reconciliation of total tax (credit)/charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.1.25

31.1.24

£

£

(Loss)/profit before tax

(793,461

)

729,975

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 19%)

(198,365

)

138,695

Effects of:

Utilisation of tax losses

(28,205

)

(138,695

)

Adjustments to tax charge in respect of previous periods

(1,366,719

)

226,171

Taxation on loss on ordinary activities

200,422

-

Deferred tax

586,280

546,626

Total tax (credit)/charge

(806,587

)

772,797

10.	INTANGIBLE FIXED ASSETS

Number

Goodwill

plates

Totals

£

£

£

COST

At 1 February 2024

and 31 January 2025

15,000

9,264

24,264

AMORTISATION

At 1 February 2024

and 31 January 2025

15,000

9,264

24,264

NET BOOK VALUE

At 31 January 2025

-

-

-

At 31 January 2024

-

-

-