Caseware UK (AP4) 2024.0.164 2024.0.164 2025-07-31 2025-07-31 30310 false false 78 2024-08-01 false 89 false NI006498 2024-08-01 2025-07-31 NI006498 2023-08-01 2024-07-31 NI006498 2025-07-31 NI006498 2024-07-31 NI006498 2023-08-01 NI006498 5 2024-08-01 2025-07-31 NI006498 5 2023-08-01 2024-07-31 NI006498 6 2024-08-01 2025-07-31 NI006498 6 2023-08-01 2024-07-31 NI006498 7 2024-08-01 2025-07-31 NI006498 7 2023-08-01 2024-07-31 NI006498 d:CompanySecretary1 2024-08-01 2025-07-31 NI006498 d:Director1 2024-08-01 2025-07-31 NI006498 d:Director3 2024-08-01 2025-07-31 NI006498 d:Director4 2024-08-01 2025-07-31 NI006498 d:Director5 2024-08-01 2025-07-31 NI006498 d:Director6 2024-08-01 2025-07-31 NI006498 d:RegisteredOffice 2024-08-01 2025-07-31 NI006498 d:Agent1 2024-08-01 2025-07-31 NI006498 d:Agent2 2024-08-01 2025-07-31 NI006498 d:Agent3 2024-08-01 2025-07-31 NI006498 e:Buildings 2024-08-01 2025-07-31 NI006498 e:Buildings 2025-07-31 NI006498 e:Buildings 2024-07-31 NI006498 e:Buildings e:OwnedOrFreeholdAssets 2024-08-01 2025-07-31 NI006498 e:Buildings e:LeasedAssetsHeldAsLessee 2024-08-01 2025-07-31 NI006498 e:Buildings e:LongLeaseholdAssets 2024-08-01 2025-07-31 NI006498 e:Buildings e:LongLeaseholdAssets 2025-07-31 NI006498 e:Buildings e:LongLeaseholdAssets 2024-07-31 NI006498 e:Buildings e:ShortLeaseholdAssets 2024-08-01 2025-07-31 NI006498 e:LandBuildings 2025-07-31 NI006498 e:LandBuildings 2024-07-31 NI006498 e:PlantMachinery 2024-08-01 2025-07-31 NI006498 e:PlantMachinery 2025-07-31 NI006498 e:PlantMachinery 2024-07-31 NI006498 e:PlantMachinery e:OwnedOrFreeholdAssets 2024-08-01 2025-07-31 NI006498 e:PlantMachinery e:LeasedAssetsHeldAsLessee 2024-08-01 2025-07-31 NI006498 e:MotorVehicles 2024-08-01 2025-07-31 NI006498 e:MotorVehicles 2025-07-31 NI006498 e:MotorVehicles 2024-07-31 NI006498 e:MotorVehicles e:OwnedOrFreeholdAssets 2024-08-01 2025-07-31 NI006498 e:MotorVehicles e:LeasedAssetsHeldAsLessee 2024-08-01 2025-07-31 NI006498 e:FurnitureFittings 2024-08-01 2025-07-31 NI006498 e:FurnitureFittings 2025-07-31 NI006498 e:FurnitureFittings 2024-07-31 NI006498 e:FurnitureFittings e:OwnedOrFreeholdAssets 2024-08-01 2025-07-31 NI006498 e:FurnitureFittings e:LeasedAssetsHeldAsLessee 2024-08-01 2025-07-31 NI006498 e:OwnedOrFreeholdAssets 2024-08-01 2025-07-31 NI006498 e:LeasedAssetsHeldAsLessee 2024-08-01 2025-07-31 NI006498 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-07-31 NI006498 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-07-31 NI006498 e:CurrentFinancialInstruments 2025-07-31 NI006498 e:CurrentFinancialInstruments 2024-07-31 NI006498 e:CurrentFinancialInstruments 1 2025-07-31 NI006498 e:CurrentFinancialInstruments 1 2024-07-31 NI006498 e:Non-currentFinancialInstruments 2025-07-31 NI006498 e:Non-currentFinancialInstruments 2024-07-31 NI006498 e:CurrentFinancialInstruments e:WithinOneYear 2025-07-31 NI006498 e:CurrentFinancialInstruments e:WithinOneYear 2024-07-31 NI006498 e:Non-currentFinancialInstruments e:AfterOneYear 2025-07-31 NI006498 e:Non-currentFinancialInstruments e:AfterOneYear 2024-07-31 NI006498 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2025-07-31 NI006498 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2024-07-31 NI006498 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2025-07-31 NI006498 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-07-31 NI006498 e:UKTax 2024-08-01 2025-07-31 NI006498 e:UKTax 2023-08-01 2024-07-31 NI006498 e:ShareCapital 2024-08-01 2025-07-31 NI006498 e:ShareCapital 2025-07-31 NI006498 e:ShareCapital 2023-08-01 2024-07-31 NI006498 e:ShareCapital 2024-07-31 NI006498 e:ShareCapital 2023-08-01 NI006498 e:CapitalRedemptionReserve 2024-08-01 2025-07-31 NI006498 e:CapitalRedemptionReserve 2025-07-31 NI006498 e:CapitalRedemptionReserve 2023-08-01 2024-07-31 NI006498 e:CapitalRedemptionReserve 2024-07-31 NI006498 e:CapitalRedemptionReserve 2023-08-01 NI006498 e:RetainedEarningsAccumulatedLosses 2024-08-01 2025-07-31 NI006498 e:RetainedEarningsAccumulatedLosses 2025-07-31 NI006498 e:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 NI006498 e:RetainedEarningsAccumulatedLosses 2024-07-31 NI006498 e:RetainedEarningsAccumulatedLosses 2023-08-01 NI006498 e:AcceleratedTaxDepreciationDeferredTax 2025-07-31 NI006498 e:AcceleratedTaxDepreciationDeferredTax 2024-07-31 NI006498 d:OrdinaryShareClass1 2024-08-01 2025-07-31 NI006498 d:OrdinaryShareClass1 2025-07-31 NI006498 d:OrdinaryShareClass1 2024-07-31 NI006498 d:OrdinaryShareClass2 2024-08-01 2025-07-31 NI006498 d:OrdinaryShareClass2 2025-07-31 NI006498 d:OrdinaryShareClass2 2024-07-31 NI006498 d:FRS102 2024-08-01 2025-07-31 NI006498 d:Audited 2024-08-01 2025-07-31 NI006498 d:FullAccounts 2024-08-01 2025-07-31 NI006498 d:PrivateLimitedCompanyLtd 2024-08-01 2025-07-31 NI006498 e:Subsidiary1 2024-08-01 2025-07-31 NI006498 e:Subsidiary1 1 2024-08-01 2025-07-31 NI006498 e:Subsidiary2 2024-08-01 2025-07-31 NI006498 e:Subsidiary2 1 2024-08-01 2025-07-31 NI006498 e:Subsidiary3 2024-08-01 2025-07-31 NI006498 e:Subsidiary3 1 2024-08-01 2025-07-31 NI006498 e:Subsidiary4 2024-08-01 2025-07-31 NI006498 e:Subsidiary4 1 2024-08-01 2025-07-31 NI006498 e:WithinOneYear 2025-07-31 NI006498 e:WithinOneYear 2024-07-31 NI006498 e:BetweenOneFiveYears 2025-07-31 NI006498 e:BetweenOneFiveYears 2024-07-31 NI006498 e:MoreThanFiveYears 2025-07-31 NI006498 e:MoreThanFiveYears 2024-07-31 NI006498 e:HirePurchaseContracts e:WithinOneYear 2025-07-31 NI006498 e:HirePurchaseContracts e:WithinOneYear 2024-07-31 NI006498 e:HirePurchaseContracts e:BetweenOneFiveYears 2025-07-31 NI006498 e:HirePurchaseContracts e:BetweenOneFiveYears 2024-07-31 NI006498 6 2024-08-01 2025-07-31 NI006498 e:PlantMachinery e:LeasedAssetsHeldAsLessee 2025-07-31 NI006498 e:PlantMachinery e:LeasedAssetsHeldAsLessee 2024-07-31 NI006498 e:LeasedAssetsHeldAsLessee 2025-07-31 NI006498 e:LeasedAssetsHeldAsLessee 2024-07-31 NI006498 e:DevelopmentCostsCapitalisedDevelopmentExpenditure e:OwnedIntangibleAssets 2024-08-01 2025-07-31 NI006498 f:PoundSterling 2024-08-01 2025-07-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: NI006498 JOHN WOODS (LISGLYN) LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
JOHN WOODS (LISGLYN) LIMITED COMPANY INFORMATION
Directors | John Woods
| Patrick Lappin
| Orla Moore
| Patrick Woods
| Joseph Woods
Company secretary | Patrick Lappin
Registered number | NI006498
Registered office | 190 Monaghan Road
| Armagh
| Co. Armagh
| BT60 4EZ
Independent auditors | AAB Group Accountants Limited
| 30 Northland Row
| Dungannon
| Co. Tyrone
| BT71 6AP
Bankers | Danske Bank
| Belfast
| Antrim
| BT1 6JS
| Ulster Bank
| 11-16 Donegall Square East
| Belfast
| BT1 5UB
| Bank of Ireland
| Church Square
| Monaghan
Solicitors | Eliotts Legal
| 40 Linenhall Street
| Belfast
| BT2 8BA
JOHN WOODS (LISGLYN) LIMITED CONTENTS
| Page
Strategic Report | 1 - 2
Directors' Report | 3 - 4
Independent Auditors' Report | 5 - 8
Statement of Comprehensive Income | 9
Balance Sheet | 10
Statement of Changes in Equity | 11
Statement of Cash Flows | 12 - 13
Analysis of Net Debt | 13
Notes to the Financial Statements | 14 - 30
JOHN WOODS (LISGLYN) LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 JULY 2025
Introduction
The directors present the strategic report for the year ended 31 July 2025.
Business review
The financial year to 31 July 2025 saw the company continue to focus and build on the health food business and this has been successful in the current year. The company is committed to the long term creation of shareholder value by increasing the company's market share and have in place a strategy which will focus on this going forward.
Principal risks and uncertainties
The core risks associated with the company are foreign exchange risk, interest rate risk, liquidity risk and price risk. The board reviews and agrees policies for the prudent management of these risks as follows: Foreign exchange risk While the greater part of revenues and expenses are dominated in sterling, the company is exposed to some foreign exchange risk in the normal course of business, principally on sales and purchases in euros. While the company has not used financial instruments to hedge foreign exchange exposure, this position is kept constantly under review. Interest rate risk The company's interest bearing liabilities comprise bank loans, bank overdrafts and hire purchase contracts, which bear interest at fixed and variable rates. The company has a policy of maintaining debt at competitive rate to ensure a reasonable degree of certainty over future interest cash flows. The directors will revisit the appropriateness of this policy should operations change in size or nature. Liquidity risk The company actively maintains a mixture of long-term and short-term debt finance that is designed to ensure that there is sufficient available funds for operations and planned expansions. Price risk The company is exposed to commodity price risk as a result of its operations. However, given the size of the company's operations, the costs of managing exposure to commodity price risk exceed any potential benefits. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature. The company has no exposure to equity securities price risk as it holds no listed or other equity investments. Inflation risk As a result of the rising rate of inflation, the company has seen the impact of this through rising costs. The company have a policy in place to continually review costs and to minimise the impact of these rising costs where possible.
Financial key performance indicators
| 2025 | 2024
| £ | £
Turnover | £18.9m | £15.5m
Gross Margin | 50.5% | 50%
Average Employee No's | 89 | 78
Net Assets | £10.6m | £9.5m
Page 1
JOHN WOODS (LISGLYN) LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 This report was approved by the board on 28 January 2026 and signed on its behalf.
Patrick Woods Director
Page 2
JOHN WOODS (LISGLYN) LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 JULY 2025 The directors present their report and the financial statements for the year ended 31 July 2025.
Principal activity
The principal activity of the company continued to be that of the production, wholesale and retail of food products.
Results and dividends
The profit for the year, after taxation, amounted to £1,163,437 (2024 - £1,147,109).
Directors
The directors who served during the year and up to the date of signing the financial statements were:
John Woods
Patrick Lappin
Orla Moore
Patrick Woods
Joseph Woods
Auditors
The auditors, AAB Group Accountants Limited ,are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Directors' responsibilities statement
The directors are responsible for preparing the Strategic Report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements 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 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 to 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. Page 3
JOHN WOODS (LISGLYN) LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information. This report was approved by the board on 28 January 2026 and signed on its behalf.
Patrick Woods Director
Page 4
JOHN WOODS (LISGLYN) LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JOHN WOODS (LISGLYN) LIMITED
Opinion
We have audited the financial statements of John Woods (Lisglyn) Limited (the 'Company') for the year ended 31 July 2025, which comprise the Statement of Comprehensive Income, the Analysis of Net Debt, the Balance Sheet, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, 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 July 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 United Kingdom, including the Financial Reporting Council'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 Auditors' 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. Page 5
JOHN WOODS (LISGLYN) LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JOHN WOODS (LISGLYN) LIMITED (CONTINUED)
Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
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 Directors' Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page 3, 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. Page 6
JOHN WOODS (LISGLYN) LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JOHN WOODS (LISGLYN) LIMITED (CONTINUED)
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 an Auditors' 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. 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: We obtained an understanding of the legal and regulatory framework applicable to the company through enquiry of management, industry research and the application of cumulative audit knowledge. We identified the following principal laws and regulations relevant to the company – Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). We developed an understanding of the key fraud risks to the entity (including how fraud might occur), the controls in place to help mitigate those risks, and the accounts, balances and disclosures within the financial statements which may be susceptible to management bias. Our understanding was obtained through review of the financial statements for significant accounting estimates, analysis of journal entries, walkthrough of the key controls cycles in place and enquiry of management. As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also: ∙Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. ∙Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Company's internal control. ∙Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. ∙Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' Report. However, future events or conditions may cause the Company to cease to continue as a going concern. ∙Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. ∙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. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Page 7
JOHN WOODS (LISGLYN) LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JOHN WOODS (LISGLYN) LIMITED (CONTINUED)
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 Auditors' 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. Deborah Mullen (Senior Statutory Auditor) for and on behalf of AAB Group Accountants Limited 30 Northland Row Dungannon Co. Tyrone BT71 6AP 28 January 2026 Page 8
JOHN WOODS (LISGLYN) LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 JULY 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 18,924,595 | 15,455,295
Cost of sales |  | (9,366,669) | (7,731,404)
Gross profit |  | 9,557,926 | 7,723,891
Distribution costs |  | (1,198,693) | (881,505)
Administrative expenses |  | (6,797,464) | (5,341,910)
Other operating income |  | 133,230 | 22,759
Operating profit | 5 | 1,694,999 | 1,523,235
Interest payable and similar expenses | 9 | (119,770) | (100,768)
Profit before tax |  | 1,575,229 | 1,422,467
Tax on profit | 10 | (411,792) | (275,358)
Profit for the financial year |  | 1,163,437 | 1,147,109
Other comprehensive income for the year |  |  |
Total comprehensive income for the year |  | 1,163,437 | 1,147,109
The notes on pages 14 to 30 form part of these financial statements.
Page 9
JOHN WOODS (LISGLYN) LIMITED REGISTERED NUMBER: NI006498 BALANCE SHEET AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 12 |  | 105,750 |  | 126,900
Tangible assets | 13 |  | 7,860,389 |  | 7,025,739
Investments | 14 |  | 2 |  | 2
|  |  | 7,966,141 |  | 7,152,641
Current assets |  |  |  |  |
Stocks | 15 | 3,571,882 |  | 2,760,306 |
Debtors: amounts falling due within one year | 16 | 3,964,307 |  | 3,118,587 |
Cash at bank and in hand | 17 | 152,303 |  | 140,989 |
|  | 7,688,492 |  | 6,019,882 |
Creditors: amounts falling due within one year | 18 | (3,442,203) |  | (2,342,344) |
Net current assets |  |  | 4,246,289 |  | 3,677,538
Total assets less current liabilities |  |  | 12,212,430 |  | 10,830,179
Creditors: amounts falling due after more than one year | 19 |  | (534,756) |  | (416,394)
Provisions for liabilities |  |  |  |  |
Deferred tax | 22 | (1,093,884) |  | (932,952) |
|  |  | (1,093,884) |  | (932,952)
Net assets |  |  | 10,583,790 |  | 9,480,833
Capital and reserves |  |  |  |  |
Called up share capital | 23 |  | 10,400 |  | 10,400
Capital redemption reserve |  |  | 2,000 |  | 2,000
Profit and loss account |  |  | 10,571,390 |  | 9,468,433
|  |  | 10,583,790 |  | 9,480,833
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 January 2026.
Patrick Woods
Director
The notes on pages 14 to 30 form part of these financial statements. Page 10
JOHN WOODS (LISGLYN) LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JULY 2025
| Called up share capital | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 August 2023 | 10,400 | 2,000 | 8,343,980 | 8,356,380
Comprehensive income for the year |  |  |  |
Profit for the year | - | - | 1,147,109 | 1,147,109
Other comprehensive income for the year | - | - | - | -
Total comprehensive income for the year | - | - | 1,147,109 | 1,147,109
Contributions by and distributions to owners |  |  |  |
Dividends: Equity capital | - | - | (22,656) | (22,656)
Total transactions with owners | - | - | (22,656) | (22,656)
At 1 August 2024 | 10,400 | 2,000 | 9,468,433 | 9,480,833
Comprehensive income for the year |  |  |  |
Profit for the year | - | - | 1,163,437 | 1,163,437
Other comprehensive income for the year | - | - | - | -
Total comprehensive income for the year | - | - | 1,163,437 | 1,163,437
Contributions by and distributions to owners |  |  |  |
Dividends: Equity capital | - | - | (60,480) | (60,480)
Total transactions with owners | - | - | (60,480) | (60,480)
At 31 July 2025 | 10,400 | 2,000 | 10,571,390 | 10,583,790
| The notes on pages 14 to 30 form part of these financial statements.
Page 11
JOHN WOODS (LISGLYN) LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial year | 1,163,437 | 1,147,109
Adjustments for: |  |
Amortisation of intangible assets | 21,150 | 21,150
Depreciation of tangible assets | 474,216 | 396,384
Loss on disposal of tangible assets | (40,727) | (4,400)
Interest paid | 119,770 | 100,768
Taxation charge | 160,932 | 275,358
(Increase) in stocks | (811,576) | (729,893)
(Increase) in debtors | (817,817) | (847,230)
Increase in creditors | 522,349 | 495,579
Corporation tax received/(paid) | 26,966 | (177,942)
Net cash generated from operating activities | 818,700 | 676,883
Cash flows from investing activities |  |
Sale of intangible assets | - | 4,400
Purchase of tangible fixed assets | (905,469) | (855,382)
Sale of tangible fixed assets | 43,330 | -
HP interest paid | (30,001) | (12,087)
Net cash from investing activities | (892,140) | (863,069)
Cash flows from financing activities |  |
Repayment of loans | (25,981) | (24,073)
Repayment of/new finance leases | (157,127) | 101,927
Loans due from/(repaid to) directors | (27,903) | (41,882)
Movements on invoice discounting | 190,463 | 277,074
Dividends paid | (60,480) | (22,656)
Interest paid | (89,769) | (88,681)
Net cash used in financing activities | (170,797) | 201,709
Net (decrease)/increase in cash and cash equivalents | (244,237) | 15,523
Cash and cash equivalents at beginning of year | 140,989 | 125,466
Cash and cash equivalents at the end of year | (103,248) | 140,989
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 152,303 | 140,989
Bank overdrafts | (255,551) | -
| (103,248) | 140,989
Page 12
JOHN WOODS (LISGLYN) LIMITED ANALYSIS OF NET DEBT FOR THE YEAR ENDED 31 JULY 2025
| At 1 August 2024 | Cash flows | New finance leases | At 31 July 2025
| £ | £ | £ | £
Cash at bank and in hand | 140,989 | 11,314 | - | 152,303
Bank overdrafts | - | (255,551) | - | (255,551)
Debt due after 1 year | (244,497) | 25,981 | - | (218,516)
Debt due within 1 year | (44,466) | - | - | (44,466)
Finance leases | (273,781) | (654,873) | 406,000 | (522,654)
| (421,755) | (873,129) | 406,000 | (888,884)
The notes on pages 14 to 30 form part of these financial statements.
Page 13
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. | General information
John Woods (Lisglyn) Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 190 Monaghan Road, Armagh, Co. Armagh, Northern Ireland, BT60 4EZ. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.3 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. Page 14
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.4 | Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 15
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.8 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.9 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.10 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Page 16
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.10 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Freehold land and buildings | - | 2% straight line - land is not depreciated
|  |  |  | Leasehold land and buildings | - | 2% straight line
|  |  |  | Plant and equipment | - | 10-25% reducing balance
|  |  |  | Motor vehicles | - | 25% reducing balance
|  |  |  | Fixtures and fittings | - | 15% reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.11 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
| 2.12 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is 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.
| 2.13 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 17
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.14 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
| 2.15 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.16 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.17 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly Page 18
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.17 | Financial instruments (continued)
traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic 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 the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Other financial instruments Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss. Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy. Derecognition of financial instruments Page 19
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.17 | Financial instruments (continued)
Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
| 2.18 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Judgements in applying accounting policies 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.
4. | Turnover
No analysis of turnover is presented as the directors consider such disclosure to be seriously prejudicial to the company's interests.
5. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on sale of tangible assets | (40,727) | (4,400)
| Amortisation of intangible assets | 21,150 | 21,150
| Other operating lease rentals | 183,621 | 167,154
| Depreciation | 474,216 | 396,384
Page 20
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
6. | Auditors' remuneration
| During the year, the Company obtained the following services from the Company's auditors:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors for the audit of the Company's financial statements | 13,801 | 13,020
| Fees payable to the Company's auditors in respect of: |  |
| Taxation compliance services | 1,728 | 1,630
| All other non-audit services | 586 | 586
7. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 3,457,456 | 2,870,775
| Social security costs | 336,852 | 259,939
| Cost of defined contribution scheme | 231,203 | 348,252
|  | 4,025,511 | 3,478,966
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Production | 56 | 50
|  | Selling | 8 | 7
|  | Administrative | 25 | 21
|  |  | 89 | 78
Page 21
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
8. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 677,831 | 426,669
| Company contributions to defined contribution pension schemes | 126,505 | 250,000
|  | 804,336 | 676,669
| During the year retirement benefits were accruing to no directors (2024 - NIL) in respect of defined contribution pension schemes.
| The highest paid director received remuneration of £182,443 (2024 - £132,830).
9. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest payable | 89,769 | 88,681
| Finance leases and hire purchase contracts | 30,001 | 12,087
|  | 119,770 | 100,768
10. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 250,860 | 106,281
|  | 250,860 | 106,281
| Total current tax | 250,860 | 106,281
| Deferred tax |  |
| Origination and reversal of timing differences | 160,932 | 169,077
| Total deferred tax | 160,932 | 169,077
|  | 411,792 | 275,358
Page 22
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 10.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 1,575,229 | 1,422,467
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 393,807 | 355,617
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | (3,258) | (2,924)
| Capital allowances for year in excess of depreciation | (139,689) | (134,482)
| Utilisation of tax losses | - | (33,204)
| Adjustment in research and development tax credit leading to an increase (decrease) in the tax charge | - | (78,726)
| Deferred Tax | 160,932 | 169,077
| Total tax charge for the year | 411,792 | 275,358
11. | Dividends
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Dividends paid | 60,480 | 22,656
|  | 60,480 | 22,656
Page 23
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
12. | Intangible assets
|  | Trade Name
|  | £
| Cost |
| At 1 August 2024 | 211,500
| At 31 July 2025 | 211,500
| Amortisation |
| At 1 August 2024 | 84,600
| Charge for the year on owned assets | 21,150
| At 31 July 2025 | 105,750
| Net book value |
| At 31 July 2025 | 105,750
| At 31 July 2024 | 126,900
Page 24
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
13. | Tangible fixed assets
|  | Freehold property | Long-term leasehold property | Plant and machinery | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |  |
| At 1 August 2024 | 7,565,502 | 1,439,482 | 7,346,237 | 181,789 | 1,538,040 | 18,071,050
| Additions | 179,940 | 238,800 | 774,872 | 63,535 | 54,322 | 1,311,469
| Disposals | - | - | (40,330) | (49,392) | - | (89,722)
| At 31 July 2025 | 7,745,442 | 1,678,282 | 8,080,779 | 195,932 | 1,592,362 | 19,292,797
| Depreciation |  |  |  |  |  |
| At 1 August 2024 | 4,982,406 | 267,595 | 4,455,054 | 158,479 | 1,181,777 | 11,045,311
| Charge for the year on owned assets | 58,250 | 30,310 | 239,527 | 9,640 | 54,969 | 392,696
| Charge for the year on financed assets | - | - | 81,520 | - | - | 81,520
| Disposals | - | - | (40,330) | (46,789) | - | (87,119)
| At 31 July 2025 | 5,040,656 | 297,905 | 4,735,771 | 121,330 | 1,236,746 | 11,432,408
| Net book value |  |  |  |  |  |
| At 31 July 2025 | 2,704,786 | 1,380,377 | 3,345,008 | 74,602 | 355,616 | 7,860,389
| At 31 July 2024 | 2,583,096 | 1,171,887 | 2,891,183 | 23,310 | 356,263 | 7,025,739
| The net book value of land and buildings may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Freehold | 2,704,786 | 2,583,096
| Long leasehold | 1,380,377 | 1,171,887
|  | 4,085,163 | 3,754,983
| Included in land and buildings is a valuation as carried out in June 2023. The valuation was carried out by CBRE NI on behalf of Danske Bank. The property was valued using open market value of £2,475,000. The difference between depreciation on the historic cost of land and buildings and depreciation on the revalued land and buildings is transferred from retained earrings to the revaluation reserve.
Page 25
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 13.Tangible fixed assets (continued)
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Plant and machinery | 764,724 | 518,866
|  | 764,724 | 518,866
14. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 August 2024 | 2
| At 31 July 2025 | 2
| Subsidiary undertakings
| The following were subsidiary undertakings of the Company:
| Name | Registered office | Class of shares | Holding
| John Woods Linwoods Limited | Republic of Ireland | Ordinary | 100%
| Linwoods Foods Limited | Northern Ireland | Ordinary | 100%
| Richmond Bakery Limited | Northern Ireland | Ordinary | 100%
| Linwoods (NI) Limited | Northern Ireland | Ordinary | 100%
15. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Raw materials and consumables | 2,014 | 1,422
| Finished goods and goods for resale | 3,569,868 | 2,758,884
|  | 3,571,882 | 2,760,306
Page 26
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
16. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 2,845,556 | 2,290,572
| Other debtors | 511,358 | 437,733
| Prepayments and accrued income | 551,638 | 343,944
| Tax recoverable | 55,755 | 46,338
|  | 3,964,307 | 3,118,587
| Trade debtors are subject to invoice discounting arrangements. Trade debtors include assigned debts of £2,845,556 (2024: £2,290,572).
17. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 152,303 | 140,989
| Less: bank overdrafts | (255,551) | -
|  | (103,248) | 140,989
18. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 255,551 | -
| Bank loans and overdrafts | 44,466 | 44,466
| Trade creditors | 1,052,955 | 892,739
| Corporation tax | 147,382 | 120,416
| Other taxation and social security | 120,203 | 79,093
| Obligations under finance lease and hire purchase contracts | 206,414 | 101,884
| Invoice discounting | 467,537 | 277,074
| Other creditors | 48,132 | 40,348
| Accruals and deferred income | 1,099,563 | 786,324
|  | 3,442,203 | 2,342,344
Page 27
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
19. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 218,516 | 244,497
| Net obligations under finance leases and hire purchase contracts | 316,240 | 171,897
|  | 534,756 | 416,394
| The bank loan and overdrafts are secured as follows: - Fixed charge over all book debts of the company; - Floating charge over the company's assets; and - Legal mortgage over factory premises. Hire purchase and finance leases are secured by the assets to which they relate
20. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 44,466 | 44,466
|  | 44,466 | 44,466
| Amounts falling due 1-2 years |  |
| Bank loans | 44,466 | 44,466
|  | 44,466 | 44,466
| Amounts falling due 2-5 years |  |
| Bank loans | 174,050 | 200,031
|  | 174,050 | 200,031
|  | 262,982 | 288,963
Page 28
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
21. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 206,414 | 101,884
| In 2-5 years | 316,240 | 171,897
|  | 522,654 | 273,781
22. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (932,952)
| Charged to profit or loss | (160,932)
| At end of year | (1,093,884)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (1,093,884) | (932,952)
|  | (1,093,884) | (932,952)
23. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Authorised, allotted, called up and fully paid |  |
|  | 80,000 (2024 - 80,000) Ordinary Shares shares of £0.10 each | 8,000 | 8,000
|  | 240,000 (2024 - 240,000) Ordinary A Shares shares of £0.01 each | 2,400 | 2,400
|  |  | 10,400 | 10,400
Page 29
JOHN WOODS (LISGLYN) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
24. | Capital commitments
| At 31 July 2025 the Company had capital commitments as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Contracted for but not provided in these financial statements | 702,448 | 254,542
|  | 702,448 | 254,542
25. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £104,698 (2024 - £98,252). The balance payable to the fund at 31 July 2025 amounted to £23,487 (2024 - £17,119).
26. | Commitments under operating leases
| At 31 July 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 199,000 | 181,000
| Later than 1 year and not later than 5 years | 796,000 | 724,000
| Later than 5 years | 525,650 | 530,000
|  | 1,520,650 | 1,435,000
27. | Related party transactions
| John Woods (Lisglyn) Limited is the sole employer of John Woods (Lisglyn) Limited Retirement Plan. The company rents premises from John Woods (Lisglyn) Limited Retirement Plan. Normal commercial terms, including the current rent payable of £199,000 (2024: £179,000) per annum apply to the rental agreements.
28. | Controlling party
John Woods is the ultimate controlling party of John Woods (Lisglyn) Limited by virtue of his shareholding.
Page 30