REGISTERED NUMBER: 02921086 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

FOR

JOHNSON BROS (TOURS) LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

L P Johnson

S P Johnson

A Johnson

Ms C Johnson

SECRETARY:

Mrs S Johnson

REGISTERED OFFICE:

Green Acres

Green Lane

Hodthorpe

Worksop

Nottinghamshire

S80 4XR

REGISTERED NUMBER:

02921086 (England and Wales)

AUDITORS:

Beeley Hawley & Co. Ltd

Chartered Accountants

Statutory Auditors

42-44 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BL

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

REVIEW OF BUSINESS

We aim to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties faced.

The results for the year and the financial position at the year end were considered satisfactory by the directors.

2025 proved to be a challenging year with regards to staffing costs together with a tightening of the bus market.

The directors addressed the need to control costs and continue to recruit suitable staff whenever possible. Despite these challenging times the directors are pleased to report that the company made a profit before tax.

The company's key financial and other performance indicators during the year were as follows:

2025

2024

Turnover

£11,947,228

£12.785,560

Gross profit margin (percent)

24.3%,

26.9%

Profit before tax

£513,228

£744,619

At the balance sheet date, the company held cash reserves of £2.9m and net assets of £11.6m.

PRINCIPAL RISKS AND UNCERTAINTIES

We face competition from both large nationals and smaller local players, as the retail market is very much consumer and price driven. There are of course also risks outside our control as there are for any business.

The forthcoming year will present further challenges to the company as staffing costs are set to rise , but the Company is prepared to deal with this by ensuring it retains necessary cash balances and a strong balance sheet position.

The company's financial instruments comprise bank balances, trade creditors, trade debtors and loans to the company. The main purpose of these instruments is to raise funds and finance the company's operations. Due to the nature of the financial instruments used by the company exposure to price risk is minimised. The company's approach to managing other risks applicable to the financial instruments concerned is shown below.

The company manages the liquidity risk by ensuring there are sufficient funds to meet the payments.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

ON BEHALF OF THE BOARD:

L P Johnson - Director

28 May 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a coach and tour operator and the repairs and servicing of coaches and other commercial vehicles.

DIVIDENDS

The total distribution of dividends for the year ended 31 August 2025 will be £ 438,150 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2024 to the date of this report.

L P Johnson

S P Johnson

A Johnson

Ms C Johnson

FINANCIAL INSTRUMENTS

The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are only conducted in sterling. The company does not enter into any hedging transactions.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 company'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 company's auditors are aware of that information.

AUDITORS

The auditors, Beeley Hawley & Co. Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

L P Johnson - Director

28 May 2026

Opinion

We have audited the financial statements of Johnson Bros (Tours) Limited (the 'company') for the year ended 31 August 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 August 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 UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the 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 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 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, 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 Statement of Directors' Responsibilities set out on page three, 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 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.

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:

Based on our understanding of the company and industry, we identify the key laws and regulations affecting the company. We identified that the principle risk of fraud or non-compliance with laws and regulations related to:

- management bias in respect of accounting estimates and judgements made;

- management override of control;

- posting of unusual journals or transactions.

We focused on those areas that could give rise to a materials misstatement in the company financial statements. Our procedures included, but were not limited to:

- enquiry of management and those charged with governance around actual and potential litigation and claims, including instances of non-compliance with laws and regulations and fraud;

- reviewing minutes of meetings of those charged with governance where available;

- reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud;

- reviewing financial statement disclosures and testing to support documentation to assess compliance with applicable laws and regulations;

- performing audit work over the risk of management override controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

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

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

G M Beeley (Senior Statutory Auditor)

Beeley Hawley & Co Ltd Beeley Hawley & Co. Ltd

Chartered Accountants

Statutory Auditors

42-44 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BL

28 May 2026

TURNOVER

3

11,947,228

12,785,558

Cost of sales

9,039,055

9,324,859

GROSS PROFIT

2,908,173

3,460,699

Administrative expenses

2,660,596

2,927,575

247,577

533,124

Other operating income

4

160,075

149,509

OPERATING PROFIT

6

407,652

682,633

Interest receivable and similar income

72,768

40,468

480,420

723,101

Gain/loss on revaluation of investment property

32,808

21,188

513,228

744,289

Interest payable and similar expenses

7

-

(330

)

PROFIT BEFORE TAXATION

513,228

744,619

Tax on profit

8

165,761

216,398

PROFIT FOR THE FINANCIAL YEAR

347,467

528,221

PROFIT FOR THE YEAR

347,467

528,221

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

347,467

Prior year adjustment

(439,314

)

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT

88,907

FIXED ASSETS

Tangible assets

10

8,467,361

7,445,589

Investments

11

-

-

Investment property

12

1,239,000

1,206,192

9,706,361

8,651,781

CURRENT ASSETS

Stocks

13

193,144

86,000

Debtors

14

1,922,287

1,679,541

Cash at bank and in hand

2,870,955

4,210,684

4,986,386

5,976,225

CREDITORS

Amounts falling due within one year

15

1,679,486

1,825,386

NET CURRENT ASSETS

3,306,900

4,150,839

TOTAL ASSETS LESS CURRENT LIABILITIES

13,013,261

12,802,620

PROVISIONS FOR LIABILITIES

17

1,463,232

1,161,908

NET ASSETS

11,550,029

11,640,712

CAPITAL AND RESERVES

Called up share capital

18

100

100

Share premium

19

1,563,237

1,563,237

Fair value reserve

19

244,038

211,230

Retained earnings

19

9,742,654

9,866,145

SHAREHOLDERS' FUNDS

23

11,550,029

11,640,712

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2026 and were signed on its behalf by:

L P Johnson - Director

Called up

Fair

share

Retained

Share

value

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 September 2023

100

10,121,822

1,563,237

190,042

11,875,201

Prior year adjustment

-

(439,314

)

-

-

(439,314

)

As restated

100

9,682,508

1,563,237

190,042

11,435,887

Changes in equity

Dividends

-

(323,396

)

-

-

(323,396

)

Total comprehensive income

-

507,033

-

21,188

528,221

Balance at 31 August 2024

100

9,866,145

1,563,237

211,230

11,640,712

Changes in equity

Dividends

-

(438,150

)

-

-

(438,150

)

Total comprehensive income

-

314,659

-

32,808

347,467

Balance at 31 August 2025

100

9,742,654

1,563,237

244,038

11,550,029

Cash flows from operating activities

Cash generated from operations

1

1,112,525

1,421,252

Interest paid

-

330

Tax paid

(234,569

)

(304,312

)

Net cash from operating activities

877,956

1,117,270

Cash flows from investing activities

Purchase of tangible fixed assets

(2,070,087

)

(503,137

)

Purchase of investment property

-

(129,000

)

Sale of tangible fixed assets

486,700

21,548

Interest received

72,768

40,468

Net cash from investing activities

(1,510,619

)

(570,121

)

Cash flows from financing activities

Loan repayments in year

65,288

(142,313

)

Amount introduced by directors

276,107

224,808

Amount withdrawn by directors

(610,311

)

(192,201

)

Equity dividends paid

(438,150

)

(323,396

)

Net cash from financing activities

(707,066

)

(433,102

)

(Decrease)/increase in cash and cash equivalents

(1,339,729

)

114,047

Cash and cash equivalents at beginning of year

2

4,210,684

4,096,637

Cash and cash equivalents at end of year

2

2,870,955

4,210,684

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

2025

2024

£

£

Profit before taxation

513,228

744,619

Depreciation charges

726,234

755,597

Profit on disposal of fixed assets

(164,620

)

(14,050

)

Gain on revaluation of fixed assets

(32,808

)

(21,188

)

Finance costs

-

(330

)

Finance income

(72,768

)

(40,468

)

969,266

1,424,180

Increase in stocks

(107,144

)

-

Increase in trade and other debtors

(76,955

)

(37,476

)

Increase in trade and other creditors

327,358

34,548

Cash generated from operations

1,112,525

1,421,252

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 August 2025

31.8.25

1.9.24

£

£

Cash and cash equivalents

2,870,955

4,210,684

Year ended 31 August 2024

31.8.24

1.9.23

£

£

Cash and cash equivalents

4,210,684

4,096,637

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.24

Cash flow

At 31.8.25

£

£

£

Net cash

Cash at bank and in hand

4,210,684

(1,339,729

)

2,870,955

4,210,684

(1,339,729

)

2,870,955

Total

4,210,684

(1,339,729

)

2,870,955

1.	STATUTORY INFORMATION

Johnson Bros (Tours) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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.

Consolidated accounts have not been prepared on the basis that the subsidiary accounts are dormant and therefore have no trade or assets.

Critical accounting judgements and key sources of estimation uncertainty

The company makes estimates and assumptions concerning the future. The directors are also required to exercise judgement in the process of applying the company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

In preparing these financial statements, the directors have made the following judgements:

Impairment of non-current assets

The company assesses the impairment of freehold property, leasehold alterations, plant and machinery, motor vehicles and fixtures and fittings, subject to depreciation whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors considered important that could trigger an impairment review include the following:

• significant underperformance relative to historical or projected future operating results;

• significant changes in the manner of the use of the acquired assets or the strategy for the overall business;

and

• significant negative industry or economic trends.

Carrying value of investment property

The directors review the market value of the company's investment property annually. The directors use their knowledge of market conditions, historical experiences and published indices to assess market value.

Recoverability of trade debtors

Trade debtors are recognised to the extent that they are judged recoverable. The directors' reviews are performed to estimate the level of reserves required for irrecoverable debt. Provisions are made specifically against invoices where recoverability is uncertain.

The directors make allowances for doubtful debts based on an assessment of recoverability of debtors. Allowances are applied to debtors where events or changes in circumstances indicate that the carrying amounts may not be recoverable. The directors specifically analyse historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when making a judgement to evaluate the adequacy of the provision for doubtful debts. Where the expectation is different from the original estimate, such difference will impact the carrying value of debtors and the charge in the profit and loss account.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Long leasehold

-

in accordance with the property

Plant and machinery

-

at variable rates on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are held under the cost model and 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.

Repairs and maintenance are charged to the profit and loss account during the period in which they are incurred.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to and from related parties.

All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised costs.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount, and best estimate, which is an approximation of the amount that the company would receive for the assets if it were to be sold at the balance sheet date.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

At the balance sheet date the Company had a significant cash balance of £2.9m and a strong net current asset position of £3.2m. At the time of signing these accounts, the directors have considered future prospects on the going concern position and consider that the company will continue to trade for a period of at least 12 months from the date of signing these accounts with the current level of funding available to it.

On that basis, the directors have prepared these financial statements on a going concern basis.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Coach & tour operations

8,004,401

8,773,100

Repairs & servicing of coaches

3,942,827

4,012,458

11,947,228

12,785,558

4.	OTHER OPERATING INCOME

2025

2024

£

£

Rents received

160,075

143,751

Revenue grants receivable

-

5,758

160,075

149,509

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

4,364,458

4,364,842

Social security costs

382,792

337,816

Other pension costs

248,238

231,263

4,995,488

4,933,921

The average number of employees during the year was as follows:

2025

2024

Office, management & drivers

140

141

2025

2024

£

£

Directors' remuneration

56,590

54,336

Directors' pension contributions to money purchase schemes

111,798

109,045

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

3

3