These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The company makes an estimate of the recoverable value of trade and other debtors. At each reporting date debtors are assessed to determine whether there is objective evidence of impairment. Debtors are impaired if there is objective evidence that indicates that a loss event has occurred after the initial recognition of the debtor, and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably.

When a subsequent event causes the amount of impairment loss to decrease, the decrease in impairment loss is reversed through the profit and loss.

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.

Due to the nature of the timing of shipping dates at the reporting date there is a need for management to accrue income/costs associated with goods that are being exported/imported. This can require management to make an estimate of the income/costs of such transactions.

JP Logistics Solutions Limited (company number: 01034009) is a private company limited by shares incorporated in England and Wales. The registered office is 5 Cedar Court, Hazell Drive, Newport, Wales, NP10 8FY.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1,000.

The financial statements have been prepared under the historical cost convention other than for the investment property. The principal accounting policies adopted are set out below and have been applied consistency to all periods presented in these financial statements.

The company has taken advantage of the exemption under section 401 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

JP Logistics Solutions Limited is a wholly owned subsidiary of the company's ultimate parent undertaking, Pan Jamaica Group Limited which includes the company in its consolidated financial statements. The consolidated financial statements of Pan Jamaica Group Limited are prepared in accordance with International Financial Reporting Standards and are available to the public and may be obtained from 60 Knutsford Boulevard, Kingston 5, Jamaica. In these financial statements, the company is considered to be a qualifying entity (for the purpose of this FRS) and has applied the exemptions available under FRS 102 in respect of the following disclosures:

• Reconciliation of the number of shares outstanding from the beginning to end of the period;

• Cash Flow Statement and related notes; and

• Key Management Personnel compensation.

As the consolidated financial statements of Pan Jamaica Group Limited include the equivalent disclosures, the Company has also taken exemptions under FRS 102 available in respect of the following disclosures:

• The disclosures required by FRS 102.11 Basic Financial Instruments and FRS 102.12 Other Financial Instrument Issues in respect of financial instruments not falling within the fair value accounting rules of Paragraph 36(4) of Schedule 1.

The company has taken advantage of the exemption under FRS 102.3.21 from the requirement to disclose transactions with Pan Jamaica Group Limited and its wholly owned subsidiary undertakings on the basis that the company is a wholly owned subsidiary and the accounts of Pan Jamaica Group Limited are publicly available.

The company has a strong net current asset position together with contracts with a number of customers and suppliers across different geographical areas and industries. As a consequence, the directors believe that the company is well placed to manage its business risks successfully.true

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future which is at least 12 months from the approval of these financial statements. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided during the year, and is shown net of VAT and other sales related taxes.

Revenue on shipping services is recognised once the vessel has sailed.

Goodwill is stated at cost less any accumulated amortisation and accumulated impairment losses. In accordance with FRS 102.35, Section 19 of FRS 102 has not been applied in these financial statements in respect of business combinations effected prior to the date of transition.

Goodwill continues to be amortised to nil by equal annual instalments over its estimated useful life of 20 years. Provision is made for any impairment.

The company reviews the amortisation period and method when events and circumstances indicate that the useful life may have changed since the last reporting date.

Goodwill is tested for impairment in accordance with Section 27 Impairment of assets when there is an indication that goodwill may be impaired.

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:

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.

Land included in freehold land and buildings is not depreciated.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

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.

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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, 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.

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, 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 payments 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. Amounts 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.

Contained within trade creditors is an amount for trading accruals, some of which have been held for greater than one year. These accruals are payable on demand. Trade accruals which are held for in excess of six years are released to the profit and loss account.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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

The company operates a defined contribution pension plan. A defined contribution plan is a post-employment benefit plan under which the company pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognised as an expense in the profit and loss account in the periods during which services are rendered by employees.

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 except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

The average monthly number of persons (including directors) employed by the company during the year was 24 (2024 - 25).

Investment property comprises the upper floor of the office building that is owned by JP Logistics Solutions Ltd and is let on a medium term basis to a third party. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors at the 31 December 2025. The valuation was made by comparing the price of the property to the average increase in office property prices from the date of purchase to 31 December 2025. The valuation obtained using this method was not materially different to the apportioned cost of the building.

On 3rd January 2022 JP Shipping Services Limited, acquired 100% of the equity of Miami Freight and Shipping Company for an initially determined consideration of £444,000. In prior years the value of the deferred consideration payable was reassessed, the value of the investment held was reduced and a total impairment has been made of the investment to date of £335,000.

Details of the company's subsidiaries at 31 December 2025 are as follows:

Trade debtors are stated after a provision for impairment amounting to £179,238 (2024: £155,529).

Amounts owed by group undertakings are stated after a provision for impairment amounting to £484,000 (2024: £398,000).

In August 2023 the company entered into a bank loan for £275,500 which is secured against the company property purchased in the year. The loan is repayable in 120 equal monthly instalments of £3,430. Interest is charged at a rate of 2.95% above the floating base rate

Included in amounts due in less than one year is a loan from Pan Jamaica Group Limited. The principal amount of the loan included in the comparative period was £122,666 with an interest rate applied of 6% per annum. The overall loan amount is subject to three seperate loan agreements. The new agreements were entered into on 14th March 2025, 25th April 2025 and 22nd May 2025 with maturity dates of 12th March 2026, 16th March 2026 and 2nd May 2026. The interest rate applied to all agreements is 6% per annum with interest payable in arrears on the maturity date.

The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the company.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 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.

a) Barclays Bank PLC hold a fixed charge and negative pledge over the property and other assets of the company.

b) Barclays Bank PLC hold a charge over the company for all monies due or to become due to the company with all bank accounts held by the company with Barclays Bank PLC.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the Company to the scheme and amounted to £65,284 (2024: £59,963).

The ultimate parent company is Pan Jamaica Group Limited, a company incorporated in Jamaica, listed on the Jamaica Stock Exchange, and registered at 60 Knutsford Boulevard, Kingston, Jamaica. The consolidated financial statements of Pan Jamaica Group Limited can be obtained from JP Logistics Solutions Limited , 5 Cedar Court, Hazell Drive, Newport, NP10 8FY.