Registration number: 05139422

Jordan Inc Limited

Contents

Jordan Inc Limited

Company Information

Jordan Inc Limited

Strategic Report for the Year Ended 31 July 2024

The director presents his strategic report for the year ended 31 July 2024.

Principal activity

The principal activity of the group remains real estate investment. Individual entities within the group support this strategy through construction activities to develop the portfolio at the group’s headquarters, the provision of student accommodation at the same site and a growing specialist car repair business which is expanding into new geographical areas in Essex.

Fair review of the business

Turnover increased by 37% to £8,449,116 (2023 £6,155,775) in the year reflecting a full year’s income from the student accommodation and constant demand at both of our vehicle repair branches in Chelmsford and Braintree.

As anticipated demand at Rivermead Island was strong and occupancy levels were spectacular, recognising the freshness and modern finish of the new development. We expect this demand to continue from students and the University agreed to take more units when building on the second phase is completed. Planning has now been approved for this next stage of development which will also include hotel rooms and some commercial space.

The specialist vehicle repair services continue to grow. During the year both branches were working at high rates of capacity leading to the search for a third branch to keep pace with demand from our insurance customers and the general public.

Activity in our construction arm was much reduced in this year with general repair work and preparation for the next phase being undertaken. Preparation for our planning application was undertaken with negotiations being held with the local Council and planning consultants. This has now been approved and work will begin in early 2026.

The group made an operating profit for the of £1,062,292 (2023 £16,754,241 including property revaluation) but a post tax loss of £1,922,737 (2023 £12,073,776 including property revaluation) after interest costs and goodwill amortisation. This has reduced group net assets to £13,532,991 (2023 £15,455,729).

Key performance indicators are reviewed each month for the trading activity and each term for student room occupation rates. Interest rates continue to be an issue for the economy but we are now starting to see decreases which will be helpful as the work begins on building the second phase.

Principal risks and uncertainties

General economic pressures due to continued inflation and higher interest rates pose a problem for many businesses. Whilst these effect the construction activities by adding in cost the other areas of the group are currently not being affected by these factors.

Education represents an important strand of every Government’s strategy and so being able to offer modern and new accommodation right on the campus at Anglian Ruskin University is seen as a positive. There is a positive stream of new students being signposted towards our offering at the University which is the largest provider of places to Nursing, Midwifery, Health and Social Care in the East of England. The students are both domestic and foreign and we cannot see a downturn in this source of income in the medium term.

Likewise, our vehicle repairs and MOT services see a constant demand from insurers and the general public wishing to repair incidental damage to vehicles and keep them legal in a roadworthy condition. Recent inflation increased the price of new vehicles across the board after COVID reduced supply and many drivers are trying to extend the life of their vehicle to keep personal costs down.

The director believes the group is in a position to exploit opportunities as they exist and secure the resources required to implement its strategy.

Jordan Inc Limited

Strategic Report for the Year Ended 31 July 2024 (continued)

Summary

The director is satisfied with this financial position and is focused on breaking ground on the next phase of development at Rivermead Island and finding further sites at which to develop the car repair business.

Approved and authorised by the director on 5 January 2026
 

Jordan Inc Limited

Director's Report for the Year Ended 31 July 2024

The director presents his report and the for the year ended 31 July 2024.

Director of the group

The director who held office during the year was as follows:

M J M Kirkham

Financial instruments

Objectives and policies

The Director’s objectives are to:
• Maximise long term shareholder value through the completion of the Rivermead Island development to gain strong property investment value and a long term loan at a lower interest rate.
• Continue to grow the car repair business and develop the number of operating branches.
• Generate stable income streams from the property investment portfolio.
• Maintain balance sheet value and a prudent risk management framework

The Company’s policies to achieve these objectives include:
• Actively managing and developing its property portfolio to enhance returns and mitigate risks.
• Maintaining a high service quality standard in the vehicle repairs sector to build customer loyalty within insurance companies and the general public.
• Monitor financial covenants to ensure financial stability.

Jordan Inc Limited

Director's Report for the Year Ended 31 July 2024 (continued)

Price risk, credit risk, liquidity risk and cash flow risk

The Group’s activities expose it to a variety of financial risks which the Director has established risk management policies to identify, evaluate and manage these risks effectively.

Price Risk
The Group is exposed to price risk in both its vehicle repair and construction activities in terms of inflation or supply of materials leading to price increases that might prove difficult to pass onto its customers or incorporate into a valuation of property.

These risks are managed by creating strong bonds with suppliers and monitoring market trends in an effort to anticipate cost increases and adjusting pricing strategies where necessary.

This risk is also appropriate to its student accommodation in that the fair value of the investment property is subject to market conditions which may increase or decrease the value of the asset and with it the level of rent that might be achievable per room or the amount of interest that may need to be paid if rates fluctuate.

The Director monitors this to ensure that occupancy is maintained at a market rate rent and keeps a strong eye on the property market for valuation purposes.

Credit Risk
Credit risk arises from the possibility that tenants or customers of the vehicle repair business might not be able to pay their invoices. This is mitigated by:
• Adopting robust credit control procedures on exiting tenants and customers to ensure that debts are paid within a reasonable timeframe.
• Performing credit assessments on new tenants and taking security deposits if considered necessary.
• Monitoring exposure to individual counter parties and limiting significant concentrations of credit risk.

Liquidity Risk
Liquidity risk is the risk that the Group will be unable to meet its financial obligations as they fall due. The Group’s policy is to ensure it has sufficient cash resources and committed borrowing facilities available including maintaining adequate cash reserves where possible with access to undrawn bank facilities and forecasting cashflows regularly to anticipate liquidity requirements.

Cash Flow Risk
The Group faces cashflow risk in the vehicle repair division from failing to collect all costs back on invoices and in the property division from the threat of falling rent yields.

As a consequence the Director has introduced a monitoring system to track each job undertaken to ensure that invoicing represents the correct sum and maximise daily cashflow.

Corporate governance

The director is satisfied with this financial position and is focused on breaking ground on the next phase of development at Rivermead Island and finding further sites at which to develop the car repair business.

Jordan Inc Limited

Director's Report for the Year Ended 31 July 2024 (continued)

Disclosure of information to the auditor

Approved and authorised by the director on 5 January 2026
 

Jordan Inc Limited

Statement of Director's Responsibilities

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 group 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:

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the group 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 group and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Jordan Inc Limited

Independent Auditor's Report to the Members of Jordan Inc Limited

Qualified opinion

We have audited the financial statements of Jordan Inc Limited (the 'parent group') and its subsidiaries (the 'group') for the year ended 31 July 2024, which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, Statement of Cash Flows, and 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, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements:

Basis for qualified opinion on financial statements

We were not appointed as auditors of the group until after 31 July 2022. As a result we were unable to access evidence confirming work in progress of £204,890 at 31 July 2022 was correct. The quantum of the adjustment that would be required is indeterminable as a result of the limitations faced and whether there was any consequential effect on the cost of sales for the year ended 31 July 2023. The qualification applies to the comparative figures for 31 July 2023 and not to the figures produced for 31 July 2024.

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 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 qualified 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 ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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.

Jordan Inc Limited

Independent Auditor's Report to the Members of Jordan Inc Limited (continued)

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

Except for the possible effects of the matter described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

Except for the matter described in the basis for qualified opinion section of our report, in the light of our knowledge and understanding of the group and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.

Auditor 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 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 is detailed below:

Jordan Inc Limited

Independent Auditor's Report to the Members of Jordan Inc Limited (continued)

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. 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 recruitment industry;
•	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 and data protection, employment 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;

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

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

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 is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Jordan Inc Limited

Independent Auditor's Report to the Members of Jordan Inc Limited (continued)

Use of our report

This report is made solely to the group’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 group’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 group and the group’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Lisa Greenwood FCCA (Senior Statutory Auditor)
For and on behalf of Lambert Chapman LLP, Statutory Auditor
 3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

5 January 2026

Jordan Inc Limited

Consolidated Profit and Loss Account for the Year Ended 31 July 2024

The group has no recognised gains or losses for the year other than the results above.

Jordan Inc Limited

Consolidated Statement of Comprehensive Income for the Year Ended 31 July 2024

Jordan Inc Limited

(Registration number: 05139422)
Consolidated Balance Sheet as at 31 July 2024

Approved and authorised by the director on 5 January 2026
 

Jordan Inc Limited

(Registration number: 05139422)
Balance Sheet as at 31 July 2024

The company has opted to take the exemption under section 408 of the Companies Act 2006 to omit its profit and loss account. The company made a loss after tax for the financial year of £3,007,022 (2023 - profit of £11,911,911).

Approved and authorised by the director on 5 January 2026