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Registered number: 01640124
JURATEK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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JURATEK LIMITED
COMPANY INFORMATION
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JURATEK LIMITED
CONTENTS
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Independent Auditors' Report
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Statement of Profit or Loss and Other Comprehensive Income
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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JURATEK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their strategic report for the year ended 31 December 2025.
Business review
The directors report that the market in which the business operates remains competitive in the current economic climate, impacting on the margins achieved on many product lines and pre-tax profitability.
Principal risks and uncertainties
Sales and Profit risk - the Company operates in a competitive market but retains a good market share and continues to outperform some of it rivals. The Company's aim is to continue growing its turnover by introducing new products and adding to existing ranges whilst promoting the Juratek's own brand.
Credit Risk - where the Company extends credit to its customers it insures against the possibility of the debt not being paid, mitigating the impact of potential bad debts.
Liquidity Risk - the directors control and monitor the cash flow of the Company on a regular basis.
Foreign Exchange Rate Risk - the Company is not immune to changes in the global economic environment and subsequent fluctuations in foreign exchange rates. The directors reduce foreign exchange rate risk to an acceptably low level using forward currency contracts, which fix the exchange rate on goods purchased and therefore maintain a consistent gross profit margin.
Employees
In order to meet its objective it is essential that the Company recruits and retains the higher calibre of employees at every level of the organisation. The employment policies of the Company embody the principles of equal opportunity. The Company gives full and fair consideration to employment for disabled persons. If an employee became disabled, arrangements would be made wherever practicable by identifying employment suited to that person's capabilities and provided necessary retraining.
Financial key performance indicators
The company's key performance indicators for the year are as follows:
Turnover - £25,033,888 (2024: £24,754,741)
Gross profit - £11,658,557 (2024: £11,421,610)
Gross margin - 46.6% (2024: 46.1%)
Profit before tax - £2,766,228 (2024: £2,704,448)
Future developments and future strategy
The company continues to operate a sales strategy based on providing new model ranges and increasing and improving existing model ranges. The company continues to review and improve the performance of its products to ensure they remain one of the leading suppliers in the market. The company continues to look to increase its geographical market share by trading in a large number of countries.
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JURATEK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
This report was approved by the board on 10 June 2026 and signed on its behalf.
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JURATEK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
Directors' responsibilities statement
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The directors are responsible for preparing the Strategic Report, Directors' Report and the financial statements, in accordance with applicable law.
Company law requires the directors to prepare financial statements for each financial year. Under that law they have elected to prepare the financial statements in accordance with UK adopted international accounting standards (UK IAS).
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 the financial statements, the directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgements and estimates that are reasonable and prudent;
∙state whether they have been prepared in accordance with UK adopted international accounting standards (UK IAS), subject to any material departures disclosed and explained in the financial statements;
∙assess the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
∙use the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
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 responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Company and to prevent and detect fraud and other irregularities.
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The profit for the year, after taxation, amounted to £2,076,150 (2024 - £2,010,279).
The total distribution of dividends for the year ended 31 December 2025 was £2,152,953 (2024: nil).
The directors who served during the year were:
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JURATEK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Disclosure of information to auditors
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Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and
∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
The auditors, Sumer Auditco Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 10 June 2026 and signed on its behalf.
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JURATEK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JURATEK LIMITED
We have audited the financial statements of Juratek Limited for the year ended 31 December 2025 which comprise the Statement of Profit or Loss and Other Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies set out on pages 19 - 22. The financial reporting framework that has been applied in their preparation is applicable law and UK-adopted International Accounting Standards ('UK- IAS')
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 UK-adopted International Accounting Standards ; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. responsibilities under those standards are further described in the auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
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In auditing the financial statements, we have concluded that the 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.
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. 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. 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.
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JURATEK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JURATEK LIMITED (CONTINUED)
Opinion on other matters prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of 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 responsibilities statement on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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JURATEK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JURATEK LIMITED (CONTINUED)
∙the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙through discussions with the directors and other management and from our commercial knowledge and experience of the clients business, we identified the laws and regulations applicable to the Company; and
∙focusing on the specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, we assessed the extent of compliance with those laws and regulations identified above through making enquiries of management and inspecting relevant correspondence.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulation.
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙reviewed journal entries to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation;
∙enquiring of management as to actual and potential litigation and claims; and
∙reviewing and correspondence with HMRC, relevant regulators and the Company’s legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
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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JURATEK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JURATEK LIMITED (CONTINUED)
Daniel Varley (Senior Statutory Auditor)
for and on behalf of
Sumer Auditco Limited
Albert Works
Sidney Street
Sheffield
S1 4RG
10 June 2026
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JURATEK LIMITED
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
Other comprehensive income:
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Income tax relating to other comprehensive income
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Movement in foreign exchange reserve
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Other comprehensive income for the year, net of tax
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Total comprehensive income
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The notes on pages 19 to 38 form part of these financial statements.
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JURATEK LIMITED
REGISTERED NUMBER: 01640124
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Property, plant and equipment
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Trade and other receivables
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Cash and cash equivalents
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Trade and other liabilities
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Issued capital and reserves
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JURATEK LIMITED
REGISTERED NUMBER: 01640124
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements on pages 9 to 38 were approved and authorised for issue by the board of directors and were signed on its behalf by:
The notes on pages 19 to 38 form part of these financial statements.
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JURATEK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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Comprehensive income for the year
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Movement in foreign exchange reserve
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Total comprehensive income for the year
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Contributions by and distributions to owners
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Comprehensive income for the year
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Movement in foreign exchange reserve
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Total comprehensive income for the year
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Contributions by and distributions to owners
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Total contributions by and distributions to owners
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The notes on pages 19 to 38 form part of these financial statements.
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JURATEK LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
Cash flows from operating activities
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Depreciation of property, plant and equipment
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Gain on sale of property, plant and equipment
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Movements in working capital:
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Decrease in trade and other receivables
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Increase in trade and other payables
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Cash generated from operations
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Net cash from operating activities
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Cash flows from investing activities
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Purchases of property, plant and equipment
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Proceeds from disposal of property, plant and equipment
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Hire purchase interest paid
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Net cash used in investing activities
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JURATEK LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
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Cash flows from financing activities
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Repayment of bank borrowings
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Payments of finance lease creditors
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Movement in foreign exchange reserves
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Net cash used in financing activities
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Net increase in cash and cash equivalents
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Cash and cash equivalents at the beginning of year
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Cash and cash equivalents at the end of the year
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The notes on pages 19 to 38 form part of these financial statements.
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Juratek Limited is a private company limited by shares, incorporated in England and Wales (registered number: 01640124). Its registered office is Unit 3 Rockingham Way, Redhouse Interchange, Doncaster, South Yorkshire, England, DN6 7FB. The principal activity throughout the year continued to be that of the sale of vehicle parts and spares.
The financial statements have been prepared in accordance with applicable law and UK-adopted International Accounting Standards.
Details of the Company's accounting policies, including changes during the year, are included in note 1.
In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the Company accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates arerecognised prospectively.
The areas where judgements and estimates have been made in preparing the financial statements and their effects are disclosed in note 5.
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2.1 Adoption of new and revised standards
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In the current year, the following amendments have been made to IFRS Standards and Interpretations issued by the International Accounting Standards Board that are effective for an annual year that begins on or after 1 January 2025.
Amendments to IFRS 18 - presentation and disclosure - improved comparability in the Statement of profit or loss
Amendments to IFRS 19 - subsidiaries without public accountability: disclosures.
These amendments have had no material impact on the disclosures or on the amounts reported in these financial statements. Certain new accounting standards and interpretations have been published that are not yet effective and have not been early adopted by the company. These standards are not expected to have a material impact on the company in the current or future reporting periods and on foreseeable future transactions.
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Basis of preparation (continued)
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2.2 Changes in accounting policies
i) New standards, interpretations and amendments effective from 1 January 2025
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The following tables summarise the impacts of adopting new accounting standards on the Company's financial statements.
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Statement of Financial Position (extract)
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31 December 2024
As originally presented
£
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31 December 2024
As restated
£
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Property, plant and equipment
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Trade and other receivables
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Cash and cash equivalents
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Trade and other liabilities
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Basis of preparation (continued)
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2.2 Changes in accounting policies (continued)
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i) New standards, interpretations and amendments effective from 1 January 2025 (continued)
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Statement of Financial Position (extract) (continued)
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31 December 2024
As originally presented
£
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31 December 2024
As restated
£
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Issued capital and reserves attributable to owners of the parent
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Statement of Comprehensive Income (extract)
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2024
As originally presented
£
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Basis of preparation (continued)
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2.2 Changes in accounting policies (continued)
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i) New standards, interpretations and amendments effective from 1 January 2025 (continued)
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Statement of Comprehensive Income (extract) (continued)
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2024
As originally presented
£
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Other comprehensive income
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Movement in foreign exchange reserve
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Income tax relating to other comprehensive income
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Total comprehensive income
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Profit for the year attributable to:
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Total comprehensive income attributable to:
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Basis of preparation (continued)
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2.2 Changes in accounting policies (continued)
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i) New standards, interpretations and amendments effective from 1 January 2025 (continued)
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Statement of Comprehensive Income (extract) (continued)
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2024
As originally presented
£
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Functional and presentation currency
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These financial statements are presented in pound sterling, which is the Company's functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.
4.Accounting policies
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Foreign currency translation
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In preparing the financial statements of each individual group entity, transactions in currencies other than the entity's functional currency (foreign currencies) are recognised at the rates of exchange prevailing at the dates of the transactions. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.
Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The Company recognises revenue when it transfers control over a product or service to a customer.
The Company does not expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. As a consequence, the Company does not adjust any of the transaction prices for the time value of money.
Revenue from the sale of goods is recognised on the satisfaction of performance obligations, such as the transfer of a promised good, identified in the contract between the Company and the customer.
A receivable is recognised when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
4.Accounting policies (continued)
Income tax expense represents the sum of the tax currently payable and deferred tax.
Tax is recognised in the Statement of Income and Retained Earnings.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company opeates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
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Property, plant and equipment
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Items of property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.
If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment. Any gain or loss on disposal of an item of property, plant and equipment is recognised in profit or loss. Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Company.
Depreciation is provided on all other items of property, plant and equipment so as to write off their carrying value over their expected useful economic lives. It is provided at the following rates:
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Long-term leasehold property
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30% Straight line or over lease term
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Inventories are stated at the lower of cost and net realisable value. Costs of inventories are determined on a weighted average basis. Net realisable value represents the estimated selling price for inventories less all estimated costs of completion and costs necessary to make the sale.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
4.Accounting policies (continued)
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks
and rewards of ownership of the leased assets to the company. All other leases are classified as operating
leases.
Leased Assets
Rentals payable under the property lease are recorded in line with IFRS 16 Leases.
A lease is defined as 'a contract, or part of a contract, that conveys the right-of-use asset (the underlying assets) for the a period of time in exchange for consideration'.
To apply this definition the company assesses whether the contract meets three key evaluations which are
whether:
∙The contract contains an identified asset, which is either explicitly identified in the contract or implicitly specified by being identified at the time the asset is made available to the company.
∙The company has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use, considering its rights within the defined scope of the contract.
∙The company has the right to direct the use of the identified asset throughout the period of use. The company assess whether it has the right to direct 'how and for what purpose' the asset is used throughout the period of use.
At lease commencement date, the company recognises a right-of-use asset and a lease liability on the balance sheet. The right-of-use asset is measured at cost, which is made up of the initial measurement of the lease liability, any initial direct costs incurred by the company, an estimate of any costs to dismantle and remove the asset at the end of the lease, and any lease payments made in advance of the lease commencement date (net any incentives received).
The company depreciates the right-of-use assets on a straight-line basis from the lease commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term.
The company also assesses the right-of-use assets for impairment when such indicators exist. At the commencement date, the company measures the lease liability at the present value of the lease payments unpaid at the date, discounted using the interest rate implicit in the lease if that is readily available or the company's incremental borrowing rate.
Subsequent to initial measurement, the liability will be reduced for payments made and increased for interest. It is remeasured to reflect any reassessment or modification, or if there are changes in in substance fixed payments.
The company has elected to account for short-term leases and leases of low-value assets using the
practical expedients. Instead of recognising a right-of-use asset and lease liability, the payments in
relation to these are recognised as an expense in profit or loss on a straight-line basis over the lease term.
On the statement of financial position, right-of-use assets have been included in plant, property and
equipment with further disclosure within the notes of the financial statements.
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
4.Accounting policies (continued)
Short-term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset, and the net amount reported in the Balance sheet when there is an 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.
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Defined contribution schemes
|
Contributions to defined contribution pension schemes are charged to the statement of comprehensive income in the year to which they relate.
Dividends are recognised when they become legally payable. In the case of interim dividends to equity shareholders, this is when declared by the directors. In the case of final dividends, this is when approved by the shareholders at the AGM.
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Accounting estimates and judgements
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5.1 Estimates and assumptions
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Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include the carrying value of stocks and recoverability of debts. Although these estimates and associated assumptions are based on historical experience and management's best knowledge of current events and actions, the actual results may ultimately differ from those estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.
Inventories
The company makes an estimate of the recoverable value of inventory of finished goods and goods for resale. When assessing impairment of inventory, management considers factors such as market conditions, aging profile of stock and historical experience.
Impairment of receivables
The company makes an estimate of the recoverable value of trade receivables. When assessing impairment of trade and other receivables, management considers factors including the current credit rating of the receivable, the aging profile of receivable and historical experience.
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The following is an analysis of the Company's revenue for the year from continuing operations:
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Analysis of revenue by country of destination:
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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During the year, the Company obtained the following services from the Company's auditors:
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Fees payable to the Company's auditors for the audit of the Company's financial statements
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Employee benefit expenses
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Employee benefit expenses (including directors) comprise:
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Defined contribution pension cost
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The monthly average number of persons, including the directors, employed by the Company during the year was as follows:
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Company contributions to pension schemes
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The remuneration of the highest paid director in respect of qualifying services is £144,200 (2024: £133,333 for aggregate remuneration and £13,958 (2024: £25,468 for company contributions to defined contribution pension plans.
The number of directors who are accruing benefits under defined contribution pension schemes was 2 (2024: 3).
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Finance income and expense
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Recognised in profit or loss
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Other interest receivable
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Hire purchase interest payable
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Net finance expense recognised in profit or loss
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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11.1 Income tax recognised in profit or loss
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Current tax on profits for the year
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Origination and reversal of timing differences
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The reasons for the difference between the actual tax charge for the year and the standard rate of corporation tax in the United Kingdom applied to profits for the year are as follows:
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Income tax expense (including income tax on associate, joint venture and discontinued operations)
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Profit before income taxes
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Tax using the Company's domestic tax rate of 25% (2024:25%)
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Expenses not deductible for tax purposes, other than goodwill, amortisation and impairment
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Other tax adjustments, reliefs and transfers
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Differences arising from IFRS transitional adjustments
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Changes in tax rates and factors affecting the future tax charges
There are no factors that may affect future tax charges.
|
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
11.Tax expense (continued)
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11.2 Current tax assets and liabilities
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Corporation tax repayable
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11.3 Deferred tax balances
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The following is the analysis of deferred tax assets/(liabilities) presented in the statement of financial position:
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Recognised in profit or loss
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Property, plant and equipment
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Recognised in profit or loss
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Property, plant and equipment
|
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|
JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Interim dividend of 1,076 pence (2024 - nil) per Ordinary share paid during the year
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Property, plant and equipment
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Long-term leasehold property
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JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
13.Property, plant and equipment (continued)
|
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Long-term leasehold property
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Accumulated depreciation and impairment
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Charge owned for the year
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Charged financed for the year
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Charge owned for the year
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Charged financed for the year
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13.1. Right-of-use assets
|
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|
The net book value of owned and leased assets included as "Property, plant and equipment" in the Statement of Financial Position is as follows:
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Property, plant and equipment owned
|
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Right-of-use assets, excluding investment property
|
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|
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|
JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
13.Property, plant and equipment (continued)
|
|
13.1 Right-of-use assets (continued)
|
|
|
Information about right-of-use assets is summarised below:
Net book value
|
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Depreciation charge for the year ended
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Interest payable and lease liabilites are disclosed on Note 21.
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Raw materials and consumables
|
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|
|
|
JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
|
|
Trade and other receivables
|
|
|
|
|
|
|
|
|
Total non-current trade and other receivables
|
|
|
|
|
|
|
|
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|
|
Receivables from related parties
|
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|
|
Total financial assets other than cash and cash equivalents classified as loans and receivables
|
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|
|
Prepayments and accrued income
|
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|
Total current trade and other receivables
|
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Total financial liabilities, excluding loans and borrowings, classified as financial liabilities measured at amortised cost
|
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|
|
|
Other payables - tax and social security payments
|
|
|
|
|
Total current trade and other payables
|
|
|
|
|
JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
Employee benefit liabilities
|
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £89,228 (2024 - £97,461).
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Ordinary shares shares of £1.00 each
|
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|
Ordinary shares shares of £1.00 each
|
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At 1 January and 31 December
|
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|
|
Foreign exchange reserve
The foreign exchange reserve represents fair value movements arising from hedging instruments.
Profit and loss account
|
|
JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
20.Reserves (continued)
The profit and loss account represents all current and prior period retained profits and losses and is all considered to be distributable.
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|
JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
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|
Lease liabilities are as follows:
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Gross obligations repayable
|
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|
Interest element of amounts payable
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Finance charges repayable
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Net Obligations repayable
|
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|
|
|
JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
|
Financial instruments - fair values and risk management
|
|
|
|
22.1 Accounting classifications and fair values
|
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|
|
The following table shows the carrying amounts and fair values of financial assets and financial liabilities. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.
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Financial assets measured at fair value
|
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Financial assets not measured at fair value
|
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Trade and other receivables
|
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Financial liabilities not measured at fair value
|
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Financial lease liabilities
|
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|
|
|
|
|
|
|
|
|
JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
22.Financial instruments - fair values and risk management (continued)
|
|
22.1 Accounting classifications and fair values (continued)
|
|
|
Financial assets measured at fair value
|
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Financial assets not measured at fair value
|
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|
Trade and other receivables
|
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Financial liabilities not measured at fair value
|
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Financial lease liabilities
|
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Financial assets measured at fair value through the profit or loss comprises of cash at hand and at bank.
Financial assets that are debt instruments measured at amortised costs comprise of trade receivables,
receivables from related parties and other debtors.
Financial liabilities measured at amortised cost comprise trade creditors, lease liabilities, other creditors
and accruals.
|
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|
JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
Related party transactions
|
|
|
23.1 Trading transactions
|
|
|
During the year, the Company entered into the following trading transactions with related parties:
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Fras-le Friction Material (Pinghu) Co Ltd
|
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The following balances were outstanding at the end of the reporting period:
|
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|
Amounts owed to related parties
|
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Fras-le Friction Material (Pinghu) Co Ltd
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23.2 Loans to related parties
|
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|
The loan is unsecured, interest free and repayable on demand.
|
The immediate parent undertaking is AML Juratek Limited, a company registered in England and Wales.
The ultimate parent undertaking is Fras-Le, Avenida Rubem Bento Alves, No 1469, Room 6, Bairro Interlagos.
The company, being a member of a group which prepares consolidated financial statements. The consolidated financial statements in which this company's accounts are included are those of Fras-Le, a company incorporated in Brazil, and they may be obtained from its registered office at Avenida Rubem Bento Alves, No 1469, Room 6, Bairro Interlagos.
|
|
JURATEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
Notes supporting statement of cash flows
|
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Cash at bank available on demand
|
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Cash and cash equivalents in the statement of financial position
|
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Cash and cash equivalents in the statement of cash flows
|
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