REGISTERED NUMBER: NI004697 (Northern Ireland)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 December 2025

for

Johnson Brothers (Belfast) Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Profit and Loss Account

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Cash Flow Statement

17

Notes to the Consolidated Cash Flow Statement

18

Notes to the Consolidated Financial Statements

20

DIRECTORS:

M Y Johnson

D W M Johnson

M A Johnson

R J Johnson

P Mills

N J W Patton

Mrs M Maginnis

A M Johnson

SECRETARY:

Mrs M Maginnis

REGISTERED OFFICE:

137 Hillsborough Old Road

Lisburn

Co. Antrim

BT27 5QR

REGISTERED NUMBER:

NI004697 (Northern Ireland)

SENIOR STATUTORY AUDITOR:

Anthony Bradley FCA

AUDITORS:

Cleaver Black

Chartered Accountants

Registered Auditors

Suite 5 Ormeau House

91-97 Ormeau Road

Belfast

Co. Antrim

BT7 1SH

BANKERS:

Bank Of Ireland

4 - 8 High Street

Belfast

BT1 2BA

The directors present their strategic report of the company and the group for the year ended 31 December 2025.

REVIEW OF BUSINESS

The trading results for the year and the group's financial position at the end of the year are shown in the attached financial statements. The directors consider both the results for the year and the prospects for the future as satisfactory. There was a profit for the year after taxation amounting to £447,998 (2024: £28,904).

PRINCIPAL RISKS AND UNCERTAINTIES

The group uses various financial instruments including bank loans or overdrafts, cash and various items, such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the group's operations.

The existence of these financial instruments exposes the group to a number of financial risks, which are described in more detail below.

The main risks arising from the group's financial instruments are interest risk and liquidity risk.

The directors review and agree policies for managing each of these risks and they are summarised below. These policies remain unchanged from previous years.

Liquidity risk

The group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs. Short term flexibility is achieved by overdraft facilities.

Currency risk

The group is exposed to translation and transaction foreign exchange risk.

Interest rate risk

The group finances its operations through a mixture of retained profits and bank borrowings. The group exposure to interest rate fluctuations on its borrowings is managed through annual review of its borrowing requirements.

Credit risk

The group's principal financial assets are cash and debtors: the credit risk associated with cash is limited. An assessment is made of prospective commercial customers before goods are supplied on credit. Overdue amounts are reviewed on an ongoing basis and are followed up on a monthly basis.

FINANCIAL KEY PERFORMANCE INDICATORS

The group's key performance indicators are as follows:

2025

2024

Growth/(decline) in sales

7.33%

(4.04%)

Growth/(decline) in operating profit

502.08%

(86.78%)

Net assets (£'000)

14,931

14,483

ON BEHALF OF THE BOARD:

Mrs M Maginnis - Director

30 April 2026

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of selling and distribution, coffee manufacturing and coffee equipment hire.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

M Y Johnson

D W M Johnson

M A Johnson

R J Johnson

P Mills

N J W Patton

Mrs M Maginnis

A M Johnson

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Cleaver Black, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs M Maginnis - Director

30 April 2026

Opinion

We have audited the financial statements of Johnson Brothers (Belfast) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the Consolidated Profit and Loss Account, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2025 and of the group's 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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent 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 directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 Statement of Directors' Responsibilities set out on page four, 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 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

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 a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identify and assessing potential risks related to irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

1

The nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies;

2

Results of our enquiries of management about their own identification and assessment of the risks of irregularities;

3

Any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:

(i)Identifying, evaluating and complying with laws and regulations and whether they were aware of any cases of

non-compliance;

(ii) Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or

alleged fraud;

(iii) The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

4

The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud;

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue deferrals. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to risk management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

Anthony Bradley FCA (Senior Statutory Auditor)

for and on behalf of Cleaver Black

Chartered Accountants

Registered Auditors

Suite 5 Ormeau House

91-97 Ormeau Road

Belfast

Co. Antrim

BT7 1SH

30 April 2026

TURNOVER

4

33,958,644

31,636,998

Cost of sales

(28,468,703

)

(26,999,271

)

GROSS PROFIT

5,489,941

4,637,727

Distribution costs

(3,491,250

)

(3,219,489

)

Administrative expenses

(1,963,582

)

(1,858,265

)

35,109

(440,027

)

Other operating income

619,255

548,711

OPERATING PROFIT

6

654,364

108,684

Interest receivable and similar income

17

19

654,381

108,703

Interest payable and similar expenses

7

(22,214

)

(34,507

)

PROFIT BEFORE TAXATION

632,167

74,196

Tax on profit

8

(184,169

)

(45,292

)

PROFIT FOR THE FINANCIAL YEAR

447,998

28,904

Profit attributable to:

Owners of the parent

447,998

28,904

PROFIT FOR THE YEAR

447,998

28,904

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

447,998

28,904

Total comprehensive income attributable to:

Owners of the parent

447,998

28,904

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

3,364,428

3,277,721

Investments

12

-

-

Investment property

13

4,178,560

4,178,560

7,542,988

7,456,281

CURRENT ASSETS

Stocks

14

6,537,498

5,340,551

Debtors

15

6,943,057

6,051,891

Cash at bank and in hand

699,649

401,254

14,180,204

11,793,696

CREDITORS

Amounts falling due within one year

16

(6,492,075

)

(4,530,844

)

NET CURRENT ASSETS

7,688,129

7,262,852

TOTAL ASSETS LESS CURRENT LIABILITIES

15,231,117

14,719,133

PROVISIONS FOR LIABILITIES

19

(300,454

)

(236,468

)

NET ASSETS

14,930,663

14,482,665

CAPITAL AND RESERVES

Called up share capital

20

4,597

4,597

Revaluation reserve

21

1,108,810

1,192,753

Capital redemption reserve

21

5,403

5,403

Retained earnings

21

13,811,853

13,279,912

SHAREHOLDERS' FUNDS

14,930,663

14,482,665

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2026 and were signed on its behalf by:

D W M Johnson - Director

M A Johnson - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

3,118,668

2,970,102

Investments

12

4,299

4,299

Investment property

13

4,178,560

4,178,560

7,301,527

7,152,961

CURRENT ASSETS

Stocks

14

5,765,533

4,583,505

Debtors

15

7,620,838

6,684,659

Cash at bank and in hand

66,706

111,055

13,453,077

11,379,219

CREDITORS

Amounts falling due within one year

16

(6,090,109

)

(4,188,313

)

NET CURRENT ASSETS

7,362,968

7,190,906

TOTAL ASSETS LESS CURRENT LIABILITIES

14,664,495

14,343,867

PROVISIONS FOR LIABILITIES

19

(239,014

)

(159,563

)

NET ASSETS

14,425,481

14,184,304

CAPITAL AND RESERVES

Called up share capital

20

4,597

4,597

Revaluation reserve

21

1,108,810

1,192,753

Capital redemption reserve

21

5,403

5,403

Retained earnings

21

13,306,671

12,981,551

SHAREHOLDERS' FUNDS

14,425,481

14,184,304

Company's profit for the financial year

241,177

161,731

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2026 and were signed on its behalf by:

D W M Johnson - Director

M A Johnson - Director

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

4,597

13,166,884

1,276,877

5,403

14,453,761

Changes in equity

Total comprehensive income

-

113,028

(84,124

)

-

28,904

Balance at 31 December 2024

4,597

13,279,912

1,192,753

5,403

14,482,665

Changes in equity

Total comprehensive income

-

531,941

(83,943

)

-

447,998

Balance at 31 December 2025

4,597

13,811,853

1,108,810

5,403

14,930,663

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

4,597

12,735,696

1,276,877

5,403

14,022,573

Changes in equity

Total comprehensive income

-

245,855

(84,124

)

-

161,731

Balance at 31 December 2024

4,597

12,981,551

1,192,753

5,403

14,184,304

Changes in equity

Total comprehensive income

-

325,120

(83,943

)

-

241,177

Balance at 31 December 2025

4,597

13,306,671

1,108,810

5,403

14,425,481

Cash flows from operating activities

Cash generated from operations

1

392,648

564,374

Interest paid

(22,214

)

(34,507

)

Government grants

-

1,500

Tax paid

-

(176,349

)

Net cash from operating activities

370,434

355,018

Cash flows from investing activities

Purchase of tangible fixed assets

(781,489

)

(710,461

)

Sale of tangible fixed assets

9,250

9,833

Interest received

17

19

Net cash from investing activities

(772,222

)

(700,609

)

Decrease in cash and cash equivalents

(401,788

)

(345,591

)

Cash and cash equivalents at beginning of year

2

(448,173

)

(102,582

)

Cash and cash equivalents at end of year

2

(849,961

)

(448,173

)

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

632,167

74,196

Depreciation charges

689,791

638,649

(Profit)/loss on disposal of fixed assets

(4,259

)

3,626

Government grants

-

(1,500

)

Finance costs

22,214

34,507

Finance income

(17

)

(19

)

1,339,896

749,459

(Increase)/decrease in stocks

(1,196,947

)

243,717

(Increase)/decrease in trade and other debtors

(891,166

)

535,491

Increase/(decrease) in trade and other creditors

1,140,865

(964,293

)

Cash generated from operations

392,648

564,374

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2025

31/12/25

1/1/25

£

£

Cash and cash equivalents

699,649

401,254

Bank overdrafts

(1,549,610

)

(849,427

)

(849,961

)

(448,173

)

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

401,254

695,230

Bank overdrafts

(849,427

)

(797,812

)

(448,173

)

(102,582

)

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/1/25

Cash flow

At 31/12/25

£

£

£

Net cash

Cash at bank and in hand

401,254

298,395

699,649

Bank overdrafts

(849,427

)

(700,183

)

(1,549,610

)

(448,173

)

(401,788

)

(849,961

)

Total

(448,173

)

(401,788

)

(849,961

)

1.	GOING CONCERN

The directors have assessed based on the anticipated activities of the company, that there are adequate resources in place to meet the on-going costs of the business for a minimum of 12 months from the date of signing of the financial statements. In coming to this conclusion, the directors have assessed the entity's current financing arrangements and liquid resources. For this reason, the financial statements have been prepared on a going concern basis which presumes the utilisation of assets and liabilities in the normal course of business.

2.	STATUTORY INFORMATION

Johnson Brothers (Belfast) Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the General Information page.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are presented in Sterling (£).

Basis of consolidation

The consolidated financial statements incorporate the financial statements of the company and its subsidiary. As a consolidated profit and loss account is published, a separate profit and loss account for the parent company is omitted from the financial statements by virtue of section 408 of the Companies Act 2006.

Significant judgements and estimates

In applying the company's accounting policies the director is required to make significant judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherence subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The items in the financial statements where these judgements and estimates have been made include:

Recoverability of Debtors:

Estimates are made in respect to the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of the debtors are considered.

Assessing indicators of impairment:

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit or loss. If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the asset that would have been determined had no impairment loss been recognised for the asset in previous years. A reversal of an impairment loss is recognised immediately in the profit or loss.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.