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Company Registration No.
FOR THE YEAR ENDED 31 AUGUST 2025
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COMPANY INFORMATION
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CONTENTS
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GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The board presents the strategic report together with the consolidated financial statements of the group for the year ended 31 August 2025.
The principal activity of the company is that of an investment holding company.
The principal activity of the sole subsidiary, J.J.Sweeney Limited, was that of joinery and fit out contractors. All activities are carried out within the United Kingdom.
Our priority is the successful delivery of our projects to the highest standard of quality and in a timely manner, while protecting health and safety of our workers at all times. Our key financial targets remain profit and balance sheet strength.
The group made profit before tax of £1,624,193 (2024: £1,820,134) on turnover of £17,464,039 (2024: 12,232,119) during the period and the balance sheet strength of the group as at 31 August 2025 was £13,607,625 (2024: £13,456,261).
The profit and loss account of the group for the year is set out on page 10. The results were in line with the expectations of the directors.
The group had a successful year, and the directors are pleased with the results.
The key performance indicators outlined above show increased turnover, consistent profitability and continued balance sheet growth, driven by the successful completion and handover of large-scale joinery and fit-out projects on schedule and to the highest standards. Ongoing global conflicts and a general economic slowdown have created a challenging trading environment with increased material costs, energy prices, and transportation costs impacting performance. However, our consistent profits resulted from a combination of factors such as continuing focus on core activities, strengthening relationships with our key clients and the quality of our management team.
Our current contracts are progressing satisfactorily. We have a strong forward order book from well-established Tier 1 customers and an encouraging pipeline of future opportunities.
The fundamentals of our business are strong and focussed and our financial strength continues to enable us to invest in our people and resources. Turnover and profit margins have become more difficult to achieve with significant delays to works on several contracts and the added challenges presented by the geo-political climate, with conflicts in Ukraine and the Middle East, ongoing inflation concerns and persistently high interest. However, as we enter another year of successful trading we are confident that the strength of the group with its strong and liquid balance sheet, our dedicated and experienced team, our reputation in our sector to continue the delivery of a consistent, timely and quality service to our valued customers and to generate profit and positive cash flow going forward.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
The principal risks for our group include the following:
Pricing and delivery of joinery and fit out contracts The pricing and delivery of large and complex joinery and fit out contracts present many challenges, principal amongst them being the availability of materials and tradespeople and meeting tight deadlines. Our policy remains to have an experienced team of pre-construction, construction, commercial, surveying, estimating and resource professionals who carry out an in depth analysis of every tender before submission and to have an experienced team to deliver the contracts we win. Health and safety risk Construction can be a higher risk activity. Health and safety remains at the forefront of our management principles. We work hard to eliminate and prevent the recurrence of even the most minor accidents and non-injury events. We prioritise investment in health and safety training to maintain, monitor and enhance our Health & Safety performance. Our management team The success of the group is dependent on recruiting and retaining skilled management, tradespeople and support staff and our employment policy is designed to attract, train and provide a rewarding and challenging career that retains the best people throughout their working life. Quality workmanship Construction projects have to be delivered to exacting design, engineering and quality workmanship standards. Our policy remains to have a stable team of skilled and experienced directors, managers, tradespeople and support staff and we are proud of our ability to retain the best people. Credit risk The group’s credit risks are mainly attributable to trade debtors and amounts recoverable on contracts. Our policy remains to have a good mix of long-standing blue chip customers and we operate a modern and efficient financial and management reporting system that monitors our customers and our debtors book on a day to day basis. In particular our longstanding monthly Cost Value Reporting system and review meetings cover the operational, commercial and financial performance of every project and help act as an advance warning of any variances. The group does not have a concentration of credit risk with the exposure spread over a number of customers. Liquidity risk The group maintains a strong and liquid balance sheet and finances its operations through a mixture of cash reserves in the bank, trade debtors, including amounts receivable from contracts less trade and other creditors. Cashflow forecasts are constantly monitored and updated. The group does not have any complex financial instruments or hedging products, nor does it have any loans or overdrafts. Therefore, the directors are confident that they can meet their obligations as they fall due.
The Board of Directors is required to consider the group's ability to continue as a going concern over a period of at least 12 months from the date of approval of these financial statements. The directors are confident that the group can continue to trade successfully and continue to provide an excellent and reliable service to our customers for the foreseeable future because we have a strong order book from well-established customers and the group has a £13.61 million balance sheet with strong liquidity and consistent profits. Thus, we continue to adopt the going concern basis in preparing the financial statements.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
The Directors look forward with confidence to continue the success of the group into the future.
This report was approved by the board on 28 May 2026 and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The directors present their report and the financial statements for the year ended 31 August 2025.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK 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 Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's and group's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £1,151,364 (2024 - £1,265,238).
Interim dividends of £1,000,000 (2024: 1,200,000) were paid during the year. The directors have not proposed a final dividend (2024: £Nil).
The directors who served during the year were:
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Riordan O'Sullivan & Co, the previous auditors, have transferred their audit business to Sumer Auditco Limited who will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 28 May 2026 and signed on its behalf.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF J.J. SWEENEY HOLDINGS LIMITED
We have audited the financial statements of J.J. Sweeney Holdings Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 August 2025, which comprise the Consolidated Profit and Loss Account, the Consolidated Analysis of Net Debt, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company 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).
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 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.
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 or 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.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF J.J. SWEENEY HOLDINGS LIMITED (CONTINUED)
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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group 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 Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
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 Directors' Report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF J.J. SWEENEY HOLDINGS LIMITED (CONTINUED)
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 Group 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 group, company and the industry in which it operates, through discussions with directors and senior management and from our commercial knowledge and experience of the construction industry. We focused on specific laws and regulations which we considered may have a material effect on the financial statements or the operations of the group and company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. We assessed the extent of compliance with these laws and regulations through discussions and enquiry with directors and senior management. We assessed the susceptibility of the group’s and company's financial statements to material misstatement, including how fraud might occur. We considered the financial controls in place to mitigate risks of fraud and error, including the risk of management bias or override. We tested the appropriateness of journal entries that appeared unusual as to nature or amount. Our audit procedures were designed to respond to the risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment or collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations are from financial transactions, the less likely we are to become aware of it.
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 Auditors' Report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF J.J. SWEENEY HOLDINGS LIMITED (CONTINUED)
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.
for and on behalf of
Chartered Accountants and Statutory Auditors
38-40 Chamberlayne Road
NW10 3JE
28 May 2026
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CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
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CONSOLIDATED BALANCE SHEET
AS AT 31 AUGUST 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 May 2026.
The notes on pages 17 to 28 form part of these financial statements.
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COMPANY BALANCE SHEET
AS AT 31 AUGUST 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 May 2026.
The notes on pages 17 to 28 form part of these financial statements.
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
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COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
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CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2025
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CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 AUGUST 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
J.J.Sweeney Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Conqueror Court, Spilsby Road, Harold Hill, Romford, RM3 8SB.
The group consists of J.J Sweeney Holdings Limited and its wholly owned subsidiary, J.J. Sweeney Limited.
2.Accounting policies
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 Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and Loss Account in these financial statements.
The financial statements are prepared in sterling, which is the functional currency of the group.
The following principal accounting policies have been applied:
The group financial statements consolidate the financial statements of the company and its subsidiary undertaking using acquisition accounting at the balance sheet date. A subsidiary is an entity that is controlled by another entity, known as the parent. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The results of subsidiary undertakings acquired or disposed of during a financial period are included from, or to, the effective date of acquisition or disposal. All financial statements are made up to 31 August each year. Intra group balance, sales and profits are eliminated fully on consolidation. Uniform accounting policies have been adopted across the group.
The Directors' Report and the Strategic Report sets out the group's business activities, and highlights the factors which may impact on its financial performance, market position and future prospects.
The Strategic Report also provides information in relation to the group's financial and liquidity position, details of its financial instruments, management of capital and exposure to credit and liquidity risk. The group has a strong balance sheet and a substantial order book for the twelve months from the date of approval of these financial statements and its forecasts indicate that it will continue to generate profit and positive cash flows for the foreseeable future. As a consequence, the directors believe that the group has adequate resources to continue in operational existence and that it is well placed to continue to manage its business risks successfully. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Transactions in currencies other than pound 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 are included in the profit and loss account for the period.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Current 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 group’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.
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:
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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Group 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 Group's Balance Sheet when the Group 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.
Construction contracts Recognition of revenue and profit on long term contracts requires management judgement regarding the anticipated final outcome of individual contracts and of the proportion of works completed at the balance sheet date. Management undertakes detailed reviews on a monthly basis in order to exercise judgement over the outcome of each contract and the associated risks and opportunities.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
The total turnover of the group for the year has been derived from its principal activity wholly undertaken in the UK.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
11.Taxation (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Other debtors represents VAT recoverable of 133,816 (2024: £204,533) and directors loan account of £169,930 (2024: £Nil).
Amounts owed by group and related undertakings are unsecured, interest free and payable on demand.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
The group operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £27,659 (2024: £25,529). Contributions totalling £1,801 (2024: £1,647) were payable to the fund at the balance sheet date.
J.J.Sweeney Holdings Limited is controlled by the directors of the group by virtue of their shareholdings.
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