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Registration number: 06689740

Just 1 Source And Supply Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2025

Just 1 Source And Supply Limited

Contents

Company Information | 1
Statement of Directors' Responsibilities | 2
Balance Sheet | 3 to 4
Notes to the Unaudited Financial Statements | 5 to 9

Just 1 Source And Supply Limited

Company Information

Directors | Mr DB Lawson Mr C McLorg Mr G Murray Mr SD McManus

Registered office | Yorkshire House Barton Hill Whitwell York North Yorkshire YO60 7JX

Accountants | Sterling Grove Accountants Limited Chartered Certified AccountantsFawley House 2 Regatta Place Marlow Road Bourne End Buckinghamshire SL8 5TD

Just 1 Source And Supply Limited

Statement of Directors' Responsibilities

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 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 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.

Just 1 Source And Supply Limited

(Registration number: 06689740)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 24,102 | 30,788
Current assets |  |  |
Stocks | 5 | 1,492,026 | 1,588,167
Debtors | 6 | 899,590 | 1,041,725
Cash at bank and in hand |  | 93,831 | 25,207
|  | 2,485,447 | 2,655,099
Creditors: Amounts falling due within one year | 7 | (975,649) | (1,356,324)
Net current assets |  | 1,509,798 | 1,298,775
Total assets less current liabilities |  | 1,533,900 | 1,329,563
Creditors: Amounts falling due after more than one year | 7 | (33,334) | (33,334)
Provisions for liabilities |  | (6,026) | (7,697)
Net assets |  | 1,494,540 | 1,288,532
Capital and reserves |  |  |
Called up share capital |  | 110 | 110
Share premium reserve |  | 9,990 | 9,990
Retained earnings |  | 1,484,440 | 1,278,432
Shareholders' funds |  | 1,494,540 | 1,288,532

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 April 2026 and signed on its behalf by:

Just 1 Source And Supply Limited

(Registration number: 06689740)
Balance Sheet as at 31 December 2025

......................................... Mr DB Lawson Director
......................................... Mr G Murray Director

Just 1 Source And Supply Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
Yorkshire House Barton Hill
Whitwell
York
North Yorkshire
YO60 7JX

These financial statements were authorised for issue by the Board on 1 April 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Just 1 Source And Supply Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 33% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Just 1 Source And Supply Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2024 - 14).

Just 1 Source And Supply Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 January 2025 | 42,720 | 4,180 | 46,900
Additions | 2,144 | - | 2,144
At 31 December 2025 | 44,864 | 4,180 | 49,044
Depreciation
At 1 January 2025 | 14,109 | 2,003 | 16,112
Charge for the year | 7,785 | 1,045 | 8,830
At 31 December 2025 | 21,894 | 3,048 | 24,942
Carrying amount
At 31 December 2025 | 22,970 | 1,132 | 24,102
At 31 December 2024 | 28,611 | 2,177 | 30,788

5 | Stocks

| 2025 £ | 2024 £
Finished goods and goods for resale | 1,492,026 | 1,588,167

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 839,413 | 955,060
Prepayments | 60,177 | 86,665
| 899,590 | 1,041,725

7 | Creditors

Creditors: amounts falling due within one year

Just 1 Source And Supply Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 52,636 | 587,353
Trade creditors |  | 445,713 | 374,634
Taxation and social security |  | 337,545 | 282,157
Accruals and deferred income |  | 132,427 | 107,873
Other creditors |  | 7,328 | 4,307
|  | 975,649 | 1,356,324

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 33,334 | 33,334

8 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 33,334 | 33,334

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | - | 50,000
Bank overdrafts | 52,636 | 537,353
| 52,636 | 587,353

Bank borrowings

National Westminster Bank CBIL loan is denominated in £ with a nominal interest rate of 4%, and the final instalment is due on 31 August 2026. The carrying amount at year end is £33,334 (2024 - £83,334). This loan is unsecured apart from the 20% secured by fixed and floating charges over all the assets of the company. The bank overdraft with National Westminster Bank and the factor advance provided by RBS Invoice Finance of £52,636 (2024 - £537,353) are 100% secured by fixed and floating charges over all the assets of the company.