Company registration number 04226877 (England and Wales)
JOHN FREDERICKS PLASTICS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
JOHN FREDERICKS PLASTICS LIMITED
COMPANY INFORMATION
Directors
M Dicconson
Mr P McManus
Secretary
Mrs J E Dicconson
Company number
04226877
Registered office
Lindley Moor Road
Huddersfield
HD3 3RW
Auditor
Ensors
Connexions
159 Princes Street
Ipswich
IP1 1QJ
JOHN FREDERICKS PLASTICS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 23
JOHN FREDERICKS PLASTICS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
- 1 -

The directors present the strategic report for the year ended 31 October 2025.

Business review

The financial year ending 2025 was seen as an extremely challenging year for UK manufacturing and the home improvement market was adversely affected by the wider economic climate. A significant increase in the government’s minimum wage and NI structure. We had to increase our selling prices in April 2025 to ensure our gross margin was not adversely affected, and our investment strategy could continue.

The company’s long-term strategy of structured profitability and sustainable growth achieved through a combination of continuous investment in automated machinery, IT infrastructure, product development and industry leading customer service has continued to prove an extremely successful and resilient business model for JFP. At John Fredericks Plastics Ltd turnover continued to grow at £23.1m this was a 4.2% increase over the previous 2023/24 financial year. The management team continued to control all key elements of the business which resulted in profit before tax of £1.43m compared to £1.87m in Y/E 2023/24, a reduction of 23.7%. This reduction was largely driven by increases in both depreciation and interest costs, with depreciation rising to £843k and interest payable increasing to £215k, reflecting the significant investments made in recent years. We have invested in factory and site refurbishment to ensure we are prepared for the future and ensure a pleasant workspace for colleagues and improve manufacturing efficiencies. We have continued to invest in IT, our social media profile and our customer marketing package whilst continually improving our product offering to stay ahead of the competition.

Our aluminium factory continues to grow and is supported by the PVC business during this growth stage but did return a profit which is reflected in the company accounts. We continue to use a selection of company metrics or KPI’s to measure our successes/failings to ensure we respond to issues quickly and effectively. Our strategy of marginal gains throughout the business continues and adds value to the ongoing profitability of the company.

At the balance sheet date there were no bank borrowings and our cash in the bank increased by 33.3%.

Principal risks and uncertainties

The Directors have considered the principal risks and uncertainties during the coming year, many of which are driven by factors which the Directors either cannot control, or which are difficult to predict. However, diligent monitoring and swift reaction to adverse factors both act to minimise the potential impact on the business.

The key business risks affecting the Company are considered to be:

- The performance of the UK economy. This is monitored constantly by the Directors to enable the Company to react quickly as possible to changed circumstances.

- Cashflow and liquidity risk is managed and minimised by diligent management of the credit control function and credit terms are strictly enforced. Additionally, the wide spread of customers reduces the financial impact of the risk.

- A shortage of labour and increases in staff cost continue to be monitored and actioned accordingly by means of increasing our sales price to attract new staff and retain the existing members.

- The UPVC product industry is extremely competitive, and the Company continually adjusts its product portfolio and pricing structures to ensure it maintains it market share and safeguards margins.

- Commodity price risk. The Directors monitor prices and take action to fix prices, although its ability to do so in the current financial year has been severely limited.

- The total turnover of the Company for the year has been derived from its principal activity wholly undertaken in the United, Kingdom, and sees currency fluctuations as a result of its purchasing requirements as its main Brexit risk.

- Credit risk. The Directors require appropriate credit checks on all potential customers.

JOHN FREDERICKS PLASTICS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 2 -
Key performance indicators

The Directors consider that the key financial indicators of the business are turnover, operating profit and bank loans and overdrafts.

The indicators and comparison with 2024 and prior years may be summarised as follows: ‑

| Year ended | Year ended | Year ended | Year ended | Year ended
| 31-Oct | 31-Oct | 31-Oct | 31-Oct | 30-Oct
| 2025 | 2024 | 2023 | 2022 | 2021
| £ | £ | £ | £ | £
Turnover | 23.1m | 22.2m | 20.0m | 18.0m | 15.4m
Operating profit/(loss) | 1,599k | 2,001k | 1,846k | 1.837k | 1,181k

Other performance indicators

An important non‑financial key performance indicator ("KPI") is the reportable accidents per employee of which there were none in the current or prior period.

Future developments

The Company’s long-term business strategy continues to be striving to be a customer-focused, innovative and efficient manufacturer of PVC-U and aluminium windows/​doors. We employ our continuous development strategy to improve and increase the efficiency of each element of our business. To maximise our profitability, we strive to reduce wastage, improve factory processes and continually upgrade our IT systems. We continue to develop and improve our product range and bespoke marketing package and are constantly offering additional services to customers, enhancing the relationship and strengthening customer retention.

After a period of significant investment, we are looking to consolidate on the improvements made. New automated machinery, upgraded delivery vehicle fleet and numerous new IT projects have allowed increased capacity whilst ensuring we have the infrastructure to grow our business in a sustainable and structured manner.

The Home Improvement market has subdued due to the general econimic climate and the pressure on household income. The window industry has seen some significant business failures, generally PE run businesses with poor management, no investment and low margins, and this has offered opportunities for us to pick up new business. Our innovative product range and proven 56-year track record of excellence has proven attractive to prospective customers, and this has resulted in us outperforming many competitors.

On behalf of the board

M Dicconson
Director
10 March 2026
JOHN FREDERICKS PLASTICS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
- 3 -

The directors present their annual report and financial statements for the year ended 31 October 2025.

Principal activities

The principal activity of the company during the year was the manufacture and distribution of double glazed UPVC doors, windows and conservatories.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £530,706. The directors do not recommend payment of a further dividend.

Directors

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

M Dicconson
Mr P McManus
Qualifying third party indemnity provisions

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

Statement of disclosure to auditor

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.

Going concern

The company has continued to trade profitably after the balance sheet date and expects this to continue for the foreseeable future.

The Directors have reviewed the company forecasts through to October 2026 to assess the level of finance required. In their consideration of going concern, the Directors have reviewed the cash forecasts and revenue projections, which they believe are based on prudent market data and past experience. Forecasts for the year to October 2026 show that the company will remain profitable, there is sufficient headroom in the available funding facility to continue as a going concern, and meet its liabilities as they fall due.

On behalf of the board
M Dicconson
Director
10 March 2026
JOHN FREDERICKS PLASTICS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2025
- 4 -

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; 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.

JOHN FREDERICKS PLASTICS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JOHN FREDERICKS PLASTICS LIMITED
- 5 -
Opinion

We have audited the financial statements of John Fredericks Plastics Limited (the 'company') for the year ended 31 October 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity 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 October 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 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' r eport 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.

JOHN FREDERICKS PLASTICS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JOHN FREDERICKS PLASTICS LIMITED (CONTINUED)
- 6 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

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.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, 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.

Auditor's 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.

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

Our audit was designed to include tests of detail together with an assessment of the control environment to enable us to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement due to fraud. This included work on areas where we consider there is a higher risk of fraud including revenue recognition, management override of systems and control, transactions with related parties, commitments and contingencies and accounting estimates.

We also obtained an understanding of the legal and regulatory framework that the company operates in, through discussions with the directors and other management, and from our own knowledge and experience of the sector.

JOHN FREDERICKS PLASTICS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JOHN FREDERICKS PLASTICS LIMITED (CONTINUED)
- 7 -

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

- obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company are complying with the legal and regulatory framework;

- inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud;

- audited 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;

- discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud;

- reviewed and challenged accounting estimates to ensure no indication of management bias.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

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.

Barry Gostling (Senior Statutory Auditor)
For and on behalf of Ensors, Statutory Auditor
Chartered Accountants
Connexions
159 Princes Street
Ipswich
IP1 1QJ
10 March 2026
JOHN FREDERICKS PLASTICS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
23,148,170
22,221,490
Cost of sales
(17,596,765)
(16,557,246)
Gross profit
5,551,405
5,664,244
Administrative expenses
(3,952,785)
(3,663,306)
Operating profit
4
1,598,620
2,000,938
Interest receivable and similar income
7
44,216
9,290
Interest payable and similar expenses
8
(214,592)
(139,126)
Profit before taxation
1,428,244
1,871,102
Tax on profit
9
(84,813)
(488,915)
Profit for the financial year
1,343,431
1,382,187

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

JOHN FREDERICKS PLASTICS LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2025
31 October 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
11
81,770
58,828
Tangible assets
12
3,718,511
3,212,645
3,800,281
3,271,473
Current assets
Stocks
13
1,523,849
1,288,555
Debtors
14
3,080,936
3,085,711
Cash at bank and in hand
2,647,883
1,986,332
7,252,668
6,360,598
Creditors: amounts falling due within one year
15
(4,231,344)
(3,934,856)
Net current assets
3,021,324
2,425,742
Total assets less current liabilities
6,821,605
5,697,215
Creditors: amounts falling due after more than one year
16
(1,701,592)
(1,503,365)
Provisions for liabilities
Provisions
18
46,509
42,785
Deferred tax liability
19
896,920
787,206
(943,429)
(829,991)
Net assets
4,176,584
3,363,859
Capital and reserves
Called up share capital
21
10,000
10,000
Profit and loss reserves
4,166,584
3,353,859
Total equity
4,176,584
3,363,859

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 10 March 2026 and are signed on its behalf by:
M Dicconson
Director
Company registration number 04226877 (England and Wales)
JOHN FREDERICKS PLASTICS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 November 2023
10,000
2,565,672
2,575,672
Year ended 31 October 2024:
Profit and total comprehensive income
-
1,382,187
1,382,187
Dividends
10
-
(594,000)
(594,000)
Balance at 31 October 2024
10,000
3,353,859
3,363,859
Year ended 31 October 2025:
Profit and total comprehensive income
-
1,343,431
1,343,431
Dividends
10
-
(530,706)
(530,706)
Balance at 31 October 2025
10,000
4,166,584
4,176,584
JOHN FREDERICKS PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 11 -
1
Accounting policies
Company information

John Fredericks Plastics Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lindley Moor Road, Huddersfield, HD3 3RW. The nature of the Company's operations and its principals activities can be found in the Strategic Report.

1.1
Basis of preparation

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 a mounts 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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of John Fredericks Plastics Group Limited. These consolidated financial statements are available from its registered office, Lindley Moor Road, Huddersfield, HD3 3RW

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the true group 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.

1.3
Revenue

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. Turnover is recognised when goods have been delivered.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

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:

Software
25% per annum
JOHN FREDERICKS PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 12 -
1.5
Tangible fixed assets

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:

Leasehold improvements
25% per annum
Plant and equipment
15% per annum
Office and computer equipment
25% per annum
Motor vehicles
20 - 25% per annum

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.

1.6
Impairment of fixed assets

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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

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.

1.9
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

JOHN FREDERICKS PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 13 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

JOHN FREDERICKS PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 14 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Debt Factoring

The Company has an invoice discounting agreement. The amount owed by customers to the Company is included within trade debtors and the amount owed to the invoice discounting company is included within creditors. The amount owed to the invoice discounting company represents the difference between the amounts advanced by the discounting company and the invoices discounted. The interest element of the invoice discounting charges and other related costs are recognised as they accrue and included in the Statement of Comprehensive Income within interest payable and similar expenses.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. 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

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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

JOHN FREDERICKS PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 15 -
1.11
Provisions

Provision is made for liabilities arising in respect of extended warranty claims on warranties provided in conjunction with the sale of goods. Provisions are recognised when the Company has an obligation at the reporting date as a result of a past event which it is probable will result in the transfer of economic benefits and that obligation can be estimated reliably. The provision is based on expected costs to be incurred over the next 10 years based on previous warranty claims.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.13
Retirement benefits

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

1.14
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

2
Judgements and key sources of estimation uncertainty

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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Cost of stock

The cost element of stock carried forward in the statement of financial position at the period end is estimated by the directors based on raw material cost plus an appropriate proportion of labour and overheads. This therefore represents a critical accounting estimate arrived at by the directors based on their experience.

JOHN FREDERICKS PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 16 -
3
Turnover and other revenue

The total turnover of the Company for the period has been derived from its principal activity wholly undertaken in the United Kingdom.

2025
2024
£
£
Other revenue
Interest income
44,216
9,290
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
22,400
25,920
Depreciation of tangible fixed assets
842,756
567,331
Amortisation of intangible assets
30,744
28,962
Operating lease charges
548,683
462,884
5
Employees

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

2025
2024
Number
Number
Production
130
129
Administration, marketing and distribution
70
57
Total
200
186

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
6,507,548
5,814,926
Social security costs
731,007
546,436
Pension costs
143,400
120,116
7,381,955
6,481,478
JOHN FREDERICKS PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 17 -
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
33,130
24,848
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
44,216
9,290
8
Interest payable and similar expenses
2025
2024
£
£
Interest on invoice finance arrangements
271
1,283
Interest on finance leases and hire purchase contracts
214,321
137,843
214,592
139,126
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
(24,901)
155,030
Deferred tax
Origination and reversal of timing differences
109,714
333,885
Total tax charge
84,813
488,915
JOHN FREDERICKS PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
9
Taxation
(Continued)
- 18 -

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:

2025
2024
£
£
Profit before taxation
1,428,244
1,871,102
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
357,061
467,776
Tax effect of expenses that are not deductible in determining taxable profit
3,750
3,356
Deferred tax adjustments in respect of prior years
109,714
333,885
Fixed asset timing differences
(127,839)
(308,842)
Other differences
9,345
(7,260)
Research and development credits
(267,218)
-
0
Taxation charge for the year
84,813
488,915

10
Dividends
2025
2024
£
£
Final paid
530,706
594,000
11
Intangible fixed assets
Software
£
Cost
At 1 November 2024
184,530
Additions
53,686
At 31 October 2025
238,216
Amortisation and impairment
At 1 November 2024
125,702
Amortisation charged for the year
30,744
At 31 October 2025
156,446
Carrying amount
At 31 October 2025
81,770
At 31 October 2024
58,828
JOHN FREDERICKS PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 19 -
12
Tangible fixed assets
Leasehold improvements
Plant and equipment
Office and computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2024
66,796
6,420,367
661,080
1,105,895
8,254,138
Additions
-
0
1,320,418
6,075
63,000
1,389,493
Disposals
-
0
-
0
-
0
(92,429)
(92,429)
At 31 October 2025
66,796
7,740,785
667,155
1,076,466
9,551,202
Depreciation and impairment
At 1 November 2024
66,796
3,511,279
646,122
817,296
5,041,493
Depreciation charged in the year
-
0
716,776
7,910
118,070
842,756
Eliminated in respect of disposals
-
0
-
0
-
0
(51,558)
(51,558)
At 31 October 2025
66,796
4,228,055
654,032
883,808
5,832,691
Carrying amount
At 31 October 2025
-
0
3,512,730
13,123
192,658
3,718,511
At 31 October 2024
-
0
2,909,088
14,958
288,599
3,212,645

Included within tangible fixed assets are assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Plant and equipment
2,928,552
2,325,629
Motor vehicles
129,777
281,780
3,058,329
2,607,409
13
Stocks
2025
2024
£
£
Raw materials and consumables
1,127,279
986,130
Work in progress
119,158
107,297
Finished goods and goods for resale
277,412
195,128
1,523,849
1,288,555
JOHN FREDERICKS PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 20 -
14
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,674,785
2,620,401
Other debtors
57,620
-
0
Prepayments and accrued income
348,531
465,310
3,080,936
3,085,711
15
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
17
740,977
601,657
Trade creditors
1,936,897
1,987,887
Amounts owed to group undertakings
170,186
170,186
Corporation tax
242,317
145,552
Other taxation and social security
696,280
567,124
Accruals and deferred income
444,687
462,450
4,231,344
3,934,856
16
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
17
1,701,592
1,503,365
17
Finance lease obligations
2025
2024
Amounts due:
£
£
Within one year
740,977
601,657
After more than one year
1,701,592
1,503,365
2,442,569
2,105,022
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
903,575
755,806
In two to five years
1,873,055
1,680,983
2,776,630
2,436,789
Less: future finance charges
(334,061)
(331,767)
2,442,569
2,105,022
JOHN FREDERICKS PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
17
Finance lease obligations
(Continued)
- 21 -

Finance lease payments represent rentals payable by the company for certain items of plant and machinery and motor vehicles. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 5 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

Obligations under finance leases are secured on the underlying assets.

18
Provisions for liabilities
2025
2024
£
£
Warranty provision
46,509
42,785
Movements on provisions:
Warranty provision
£
At 1 November 2024
42,785
Additional provisions in the year
3,724
At 31 October 2025
46,509

The warranty provision relates to the potential cost to the Company under a 10 year warranty on Company products. The provision is based on expected costs to be incurred over the next 10 years based on previous warranty claims.

19
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
903,402
792,911
Short term timing differences
(6,482)
(5,705)
896,920
787,206
JOHN FREDERICKS PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
19
Deferred taxation
(Continued)
- 22 -
2025
Movements in the year:
£
Liability at 1 November 2024
787,206
Charge to profit or loss
109,714
Liability at 31 October 2025
896,920

No significant reversal of deferred tax liabilities is expected within the next 12 months.

Other deferred tax movements are in relation to liabilities recognised on acquisition of John Fredericks Plastics Ltd.

20
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
143,400
120,116

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.

21
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share capital of £1 each
10,000
10,000
10,000
10,000
22
Operating lease commitments
As lessee

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:

2025
2024
£
£
Within 1 year
298,111
268,648
Years 2-5
3,159,626
578,393
3,457,737
847,041
JOHN FREDERICKS PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 23 -
23
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
132,000
352,350
24
Ultimate controlling party

The company's immediate parent company is John Fredericks Plastics Group Limited. The company's ultimate parent company is John Fredericks Plastics Group Limited and is the smallest and largest group for which consolidated accounts including John Fredericks Plastics Limited are prepared. The registered office of both Companies is Lindley Moor Road, Huddersfield, HD3 3RW. The consolidated accounts for John Fredericks Plastics Group Limited are available from Companies House.

The directors consider the ultimate controlling party to be M Dicconson, a director and the majority shareholder in John Fredericks Plastics Group Limited.

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