Caseware UK (AP4) 2025.0.111 2025.0.111 2026-04-30 2026-04-30 58 true true true true true 56 true false 2025-05-01 false Distribution of industrial fasteners and components false 01884896 2025-05-01 2026-04-30 01884896 2024-05-01 2025-04-30 01884896 2026-04-30 01884896 2025-04-30 01884896 2024-05-01 01884896 4 2025-05-01 2026-04-30 01884896 4 2024-05-01 2025-04-30 01884896 d:CompanySecretary1 2025-05-01 2026-04-30 01884896 d:Director1 2025-05-01 2026-04-30 01884896 d:Director4 2025-05-01 2026-04-30 01884896 d:Director5 2025-05-01 2026-04-30 01884896 d:Director5 2026-04-30 01884896 d:RegisteredOffice 2025-05-01 2026-04-30 01884896 e:Buildings 2025-05-01 2026-04-30 01884896 e:Buildings 2026-04-30 01884896 e:Buildings 2025-04-30 01884896 e:Buildings e:OwnedOrFreeholdAssets 2025-05-01 2026-04-30 01884896 e:PlantMachinery 2025-05-01 2026-04-30 01884896 e:PlantMachinery 2026-04-30 01884896 e:PlantMachinery 2025-04-30 01884896 e:PlantMachinery e:OwnedOrFreeholdAssets 2025-05-01 2026-04-30 01884896 e:MotorVehicles 2025-05-01 2026-04-30 01884896 e:MotorVehicles 2026-04-30 01884896 e:MotorVehicles 2025-04-30 01884896 e:MotorVehicles e:OwnedOrFreeholdAssets 2025-05-01 2026-04-30 01884896 e:FurnitureFittings 2025-05-01 2026-04-30 01884896 e:FurnitureFittings 2026-04-30 01884896 e:FurnitureFittings 2025-04-30 01884896 e:FurnitureFittings e:OwnedOrFreeholdAssets 2025-05-01 2026-04-30 01884896 e:OwnedOrFreeholdAssets 2025-05-01 2026-04-30 01884896 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2026-04-30 01884896 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-04-30 01884896 e:CurrentFinancialInstruments 2026-04-30 01884896 e:CurrentFinancialInstruments 2025-04-30 01884896 e:Non-currentFinancialInstruments 2026-04-30 01884896 e:Non-currentFinancialInstruments 2025-04-30 01884896 e:CurrentFinancialInstruments e:WithinOneYear 2026-04-30 01884896 e:CurrentFinancialInstruments e:WithinOneYear 2025-04-30 01884896 e:Non-currentFinancialInstruments e:AfterOneYear 2026-04-30 01884896 e:Non-currentFinancialInstruments e:AfterOneYear 2025-04-30 01884896 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2026-04-30 01884896 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2025-04-30 01884896 f:UnitedKingdom 2025-05-01 2026-04-30 01884896 f:UnitedKingdom 2024-05-01 2025-04-30 01884896 f:RestEuropeOutsideUK 2025-05-01 2026-04-30 01884896 f:RestEuropeOutsideUK 2024-05-01 2025-04-30 01884896 f:RestWorldOutsideUK 2025-05-01 2026-04-30 01884896 f:RestWorldOutsideUK 2024-05-01 2025-04-30 01884896 e:UKTax 2025-05-01 2026-04-30 01884896 e:UKTax 2024-05-01 2025-04-30 01884896 e:ShareCapital 2026-04-30 01884896 e:ShareCapital 2025-04-30 01884896 e:ShareCapital 2024-05-01 01884896 e:RevaluationReserve 2025-05-01 2026-04-30 01884896 e:RevaluationReserve 2026-04-30 01884896 e:RevaluationReserve 2024-05-01 2025-04-30 01884896 e:RevaluationReserve 2025-04-30 01884896 e:RevaluationReserve 2024-05-01 01884896 e:RetainedEarningsAccumulatedLosses 2025-05-01 2026-04-30 01884896 e:RetainedEarningsAccumulatedLosses 2026-04-30 01884896 e:RetainedEarningsAccumulatedLosses 2024-05-01 2025-04-30 01884896 e:RetainedEarningsAccumulatedLosses 2025-04-30 01884896 e:RetainedEarningsAccumulatedLosses 2024-05-01 01884896 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2026-04-30 01884896 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2025-04-30 01884896 e:FinancialAssetsAmortisedCost 2026-04-30 01884896 e:FinancialAssetsAmortisedCost 2025-04-30 01884896 e:FinancialLiabilitiesAmortisedCost 2026-04-30 01884896 e:FinancialLiabilitiesAmortisedCost 2025-04-30 01884896 d:OrdinaryShareClass1 2025-05-01 2026-04-30 01884896 d:OrdinaryShareClass1 2026-04-30 01884896 d:OrdinaryShareClass1 2025-04-30 01884896 d:FRS102 2025-05-01 2026-04-30 01884896 d:Audited 2025-05-01 2026-04-30 01884896 d:FullAccounts 2025-05-01 2026-04-30 01884896 d:PrivateLimitedCompanyLtd 2025-05-01 2026-04-30 01884896 e:Subsidiary1 2025-05-01 2026-04-30 01884896 e:Subsidiary1 1 2025-05-01 2026-04-30 01884896 e:Subsidiary2 2025-05-01 2026-04-30 01884896 e:Subsidiary2 1 2025-05-01 2026-04-30 01884896 e:Subsidiary3 2025-05-01 2026-04-30 01884896 e:Subsidiary3 1 2025-05-01 2026-04-30 01884896 e:WithinOneYear 2026-04-30 01884896 e:WithinOneYear 2025-04-30 01884896 e:BetweenOneFiveYears 2026-04-30 01884896 e:BetweenOneFiveYears 2025-04-30 01884896 e:DevelopmentCostsCapitalisedDevelopmentExpenditure e:ExternallyAcquiredIntangibleAssets 2025-05-01 2026-04-30 01884896 5 2025-05-01 2026-04-30 01884896 6 2025-05-01 2026-04-30 01884896 15 2025-05-01 2026-04-30 01884896 17 2025-05-01 2026-04-30 01884896 e:AcceleratedTaxDepreciationDeferredTax 2026-04-30 01884896 e:AcceleratedTaxDepreciationDeferredTax 2025-04-30 01884896 e:DevelopmentCostsCapitalisedDevelopmentExpenditure e:OwnedIntangibleAssets 2025-05-01 2026-04-30 01884896 g:PoundSterling 2025-05-01 2026-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01884896 JET PRESS LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026
JET PRESS LIMITED COMPANY INFORMATION
Directors | O C Guest
| R Johnson
| S R Cusick (resigned 30 April 2025)
Company secretary | M Gordon
Registered number | 01884896
Registered office | Nunn Close
| Huthwaite
| Nottinghamshire
| NG17 2HW
Independent auditors | Barnett & Turner Accountants Ltd
| Chartered Accountants & Statutory Auditors
| Cromwell House
| 68 West Gate
| Mansfield
| Nottinghamshire
| NG18 1RR
JET PRESS LIMITED CONTENTS
| Page
Strategic report | 1 - 2
Directors' report | 3 - 4
Independent auditors' report | 5 - 8
Statement of comprehensive income | 9
Balance sheet | 10
Statement of changes in equity | 11
Notes to the financial statements | 12 - 27
JET PRESS LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 30 APRIL 2026
Introduction
Jet Press Limited continues to operate as a specialist supplier of engineered fastening products, furniture components, and related distribution services. The company has remained focused on long-term customer relationships, international sourcing and investment in its people, systems and facilities to ensure resilience and sustainable growth.
Business review
During the year the company faced challenging market conditions in both the UK and export markets, with customer demand impacted by wider economic factors including interest rates, inflationary pressures, and changes to global trade tariffs. Despite these headwinds, sales performance remained broadly in line with expectations, supported by: ∙strong contributions from newly acquired businesses and integration of customer portfolios; ∙expansion into growth sectors such as military and specialist OEM markets; ∙continued development of international supply partnerships, ensuring a reliable and competitive product range; ∙investment in IT infrastructure, ERP systems and upgraded facilities, enabling operational efficiency and improved customer service. The Board has focused on stabilising performance while positioning the business for future growth. The budget for the next financial year has been designed from the customer level upwards, rather than on a top-down basis, to ensure greater alignment with market opportunities and strategic priorities.
Principal risks and uncertainties
The principal risks and uncertainties facing the company are: Economic conditions: Demand from OEM and distributor customers remains sensitive to changes in UK and EU economic performance, inflationary pressures and fluctuations in exchange rates. Supply chain resilience: The business relies on a mix of global sourcing and in-house capability. Disruptions caused by geopolitical instability, tariffs or logistics constraints could affect continuity of supply. Customer concentration: While new customer acquisition has diversified the base, a portion of revenue remains linked to larger accounts, and the reduction of business from such customers could impact results. Technological and systems change: The transition to new ERP and IT infrastructure creates operational risk if implementation is delayed or data migration issues occur. Regulatory and environmental requirements: Increasing expectations from customers and regulators on carbon reduction, sustainability, and product compliance create both risk and opportunity. The Board continues to monitor these risks closely, supported by structured mitigation plans, diversification of customers and suppliers, and investment in systems and skills to strengthen resilience. Page 1
JET PRESS LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2026
Financial key performance indicators
The directors consider that the company's key financial indicators are those that communicate financial performance and the strength of the company as a whole, these being turnover, cost of sales, selling and administration expenses as reported in the financial statements. This report was approved by the board on 11 August 2026 and signed on its behalf.
R Johnson Director
Page 2
JET PRESS LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 30 APRIL 2026 The directors present their report and the financial statements for the year ended 30 April 2026.
Directors' responsibilities statement
The directors are responsible for preparing the strategic report, the directors' report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the company's financial statements and then apply them consistently; ∙make judgments 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results
The profit for the year, after taxation, amounted to £813,317 (2025 - loss £247,153).
Directors
The directors who served during the year were:
O C Guest
R Johnson
S R Cusick (resigned 30 April 2025)
Future developments
The company continues to partner with both existing and new customers to broaden and deepen its product and service ranges whilst expanding into new markets, delivering the quality and reliability for which the company is renowned in its sector. Page 3
JET PRESS LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2026
Disclosure of information to auditors
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.
Auditors
The auditors, Barnett & Turner Accountants Ltd, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 11 August 2026 and signed on its behalf.
R Johnson Director
Page 4
JET PRESS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JET PRESS LIMITED
Opinion
We have audited the financial statements of Jet Press Limited (the 'company') for the year ended 30 April 2026, which comprise the statement of comprehensive income, the balance sheet, the 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). In our opinion the financial statements: ∙give a true and fair view of the state of the company's affairs as at 30 April 2026 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 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
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. Page 5
JET PRESS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JET PRESS LIMITED (CONTINUED)
Other information
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.
Opinion 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 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 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 directors' responsibilities statement set out 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. Page 6
JET PRESS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JET PRESS LIMITED (CONTINUED)
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 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: As part of our planning process: ∙We enquired of management regarding the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The company did not inform us of any known, suspected or alleged fraud. ∙We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102, Companies Act 2006 and current tax legislation. ∙We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly. ∙Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment. The key procedures we undertook to detect irregularities including fraud during the course of the audit included: ∙Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual. ∙Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied. ∙Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates, in particular in relation to depreciation and the valuation of stock. ∙Testing key revenue lines, in particular cut-off, for evidence of management bias. ∙Performing a physical verification of key assets and stock items (including testing of the stock system). ∙Obtaining third-party confirmation of material bank balances. ∙Documenting and verifying all significant related party balances and transactions. Page 7
JET PRESS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JET PRESS LIMITED (CONTINUED) ∙Reviewing documentation such as the company board minutes, correspondence with solicitors, for discussions of irregularities including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors. 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.
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 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. Jonathan Wilson FCA CTA (senior statutory auditor) for and on behalf of Barnett & Turner Accountants Ltd Chartered Accountants Statutory Auditors Cromwell House 68 West Gate Mansfield Nottinghamshire NG18 1RR 11 August 2026 Page 8
JET PRESS LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 APRIL 2026
| 2026 | 2025
Note | £ | £
Turnover | 4 | 9,168,130 | 8,954,262
Cost of sales |  | (4,721,798) | (5,438,164)
Gross profit |  | 4,446,332 | 3,516,098
Distribution costs |  | (316,138) | (370,236)
Administrative expenses |  | (3,047,527) | (3,373,489)
Operating profit/(loss) | 5 | 1,082,667 | (227,627)
Interest receivable and similar income | 9 | 15,472 | 16,074
Interest payable and similar expenses | 10 | (7,656) | (1,358)
Profit/(loss) before tax |  | 1,090,483 | (212,911)
Tax on profit/(loss) | 11 | (277,166) | (34,242)
Profit/(loss) for the financial year |  | 813,317 | (247,153)
There were no recognised gains and losses for 2026 or 2025 other than those included in the statement of comprehensive income.
There was no other comprehensive income for 2026 (2025:£NIL).
The notes on pages 12 to 27 form part of these financial statements.
Page 9
JET PRESS LIMITED REGISTERED NUMBER: 01884896 BALANCE SHEET AS AT 30 APRIL 2026
| 2026 | 2026 | 2025 | 2025
Note | £ | £ | £ | £
Fixed assets |  |  |  |  |
Intangible assets | 13 |  | 12,170 |  | 8,450
Tangible assets | 14 |  | 2,341,333 |  | 2,416,346
Investments | 15 |  | 1,010,375 |  | 1,010,376
|  |  | 3,363,878 |  | 3,435,172
Current assets |  |  |  |  |
Fixed assets held for sale |  | 367,500 |  | 367,500 |
Stocks | 16 | 2,620,130 |  | 2,213,496 |
Debtors | 17 | 1,723,465 |  | 1,545,509 |
Cash at bank and in hand | 18 | 900,315 |  | 952,038 |
|  | 5,611,410 |  | 5,078,543 |
Creditors: amounts falling due within one year | 19 | (1,049,886) |  | (1,149,892) |
Net current assets |  |  | 4,561,523 |  | 3,928,651
Total assets less current liabilities |  |  | 7,925,401 |  | 7,363,823
Creditors: amounts falling due after more than one year | 20 |  | (873,510) |  | (873,510)
Provisions for liabilities |  |  |  |  |
Deferred tax | 23 |  | (76,889) |  | (78,628)
Net assets |  |  | 6,975,002 |  | 6,411,685
Capital and reserves |  |  |  |  |
Called up share capital | 24 |  | 10,000 |  | 10,000
Revaluation reserve | 25 |  | 1,173,267 |  | 1,198,230
Profit and loss account | 25 |  | 5,791,735 |  | 5,203,455
|  |  | 6,975,002 |  | 6,411,685
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 August 2026.
R Johnson
Director
The notes on pages 12 to 27 form part of these financial statements. Page 10
JET PRESS LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 APRIL 2026
| Called up share capital | Revaluation reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 May 2024 | 10,000 | 1,234,678 | 5,664,160 | 6,908,838
Loss for the year | - | - | (247,153) | (247,153)
Dividends: Equity capital | - | - | (250,000) | (250,000)
Transfer to/from profit and loss account | - | (36,448) | 36,448 | -
At 1 May 2025 | 10,000 | 1,198,230 | 5,203,455 | 6,411,685
Profit for the year | - | - | 813,317 | 813,317
Dividends: Equity capital | - | - | (250,000) | (250,000)
Transfer to/from profit and loss account | - | (24,963) | 24,963 | -
At 30 April 2026 | 10,000 | 1,173,267 | 5,791,735 | 6,975,002
| The notes on pages 12 to 27 form part of these financial statements.
Page 11
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026
1. | General information
Jet Press Limited is a company incorporated and domiciled in England. Its registered office and principal place of business is situated at Nunn Close, Huthwaite, Nottinghamshire NG17 2HW. The principal activity of the company is the distribution of industrial fasteners and components. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
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 management to exercise judgment in applying the company's accounting policies (see note 3). Group accounts have not been prepared as all of the company's subsidiaries are permitted to be excluded from group accounts by virtue of sections 402 and 405 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group. The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); ∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; ∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23; ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Jet Press Holdings Limited as at 30 April 2026 and these financial statements may be obtained from Companies House (company number SC619070). Page 12
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026 2.Accounting policies (continued)
| 2.3 | Going concern
At the time of signing the accounts there is some degree of uncertainty regarding the full economic impact of the current geopolitical landscape. The directors have reviewed the working capital requirements of the business and anticipated cash flows until 30 September 2027. On the basis of their assessment of the company's financial position, the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of preparation of the financial statements.
| 2.4 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
| 2.5 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the company has transferred the significant risks and rewards of ownership to the buyer; ∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.6 | Operating leases: the company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Page 13
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026 2.Accounting policies (continued)
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.8 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
| 2.9 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 operates 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. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Page 14
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026 2.Accounting policies (continued)
| 2.10 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.11 | Tangible fixed assets
Tangible fixed assets under the cost model 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. 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:
|  |  |  | Freehold property | - | 2% straight line
|  |  |  | Plant and machinery | - | 12.5% or 33.33% straight line
|  |  |  | Motor vehicles | - | 25% straight line
|  |  |  | Fixtures and fittings | - | 10%, 12.5% or 33.3% straight line
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.
| 2.12 | Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value being fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.13 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Page 15
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026 2.Accounting policies (continued)
| 2.14 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. 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.
| 2.15 | Financial instruments
The company 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 company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Page 16
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026 2.Accounting policies (continued)
| 2.15 | Financial instruments (continued)
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
| 2.16 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
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: Depreciation of tangible fixed assets Determining the appropriate rate of depreciation of tangible fixed assets requires an estimation of the useful economic life and ultimate net realisable value. The useful economic life is determined to be the period during which each asset will generate positive cash flows for the company. Stock valuation Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in, first out basis. Provision is made to reduce the value of stock for slow moving and obsolete stock. Stock is deemed to be slow moving if there have been no sales of that stock within the last 3 years or they are parts that are no longer used (i.e. parts for a specific item that is no longer manufactured). Obsolete stock is valued at £Nil.
4. | Turnover
Analysis of turnover by country of destination:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| United Kingdom | 5,090,609 | 5,263,950
| Rest of Europe | 3,488,700 | 3,150,327
| Rest of the world | 588,821 | 539,985
|  | 9,168,130 | 8,954,262
Page 17
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026
5. | Operating profit/(loss)
| The operating profit/(loss) is stated after charging:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Exchange differences | (18,441) | 3,249
| Other operating lease rentals | 43,733 | 40,168
| Depreciation | 131,505 | 151,980
6. | Auditors' remuneration
| During the year, the company obtained the following services from the company's auditors:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Fees payable to the company's auditors for the audit of the company's financial statements | 11,000 | 10,500
7. | Employees
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Wages and salaries | 1,813,767 | 1,875,478
| Social security costs | 225,314 | 187,246
| Cost of defined contribution scheme | 193,363 | 212,530
|  | 2,232,444 | 2,275,254
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2026 | 2025
|  |  | No. | No.
|  | Operational and administration | 56 | 58
Page 18
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026
8. | Directors' remuneration
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Directors' emoluments | 149,803 | 273,337
| Company contributions to defined contribution pension schemes | 14,950 | 26,734
|  | 164,753 | 300,071
| During the year retirement benefits were accruing to 1 director (2025 - 2) in respect of defined contribution pension schemes.
| The highest paid director received remuneration of £127,757 (2025 - £127,839).
| The value of the company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £14,950 (2025 - £16,900).
9. | Interest receivable
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Other interest receivable | 15,472 | 16,074
10. | Interest payable and similar expenses
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Loans from group undertakings | - | 1,358
| Other interest payable | 7,656 | -
|  | 7,656 | 1,358
11. | Taxation
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 278,905 | 22,055
| Deferred tax |  |
| Origination and reversal of timing differences | (1,739) | 12,187
|  | 277,166 | 34,242
Page 19
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026 11.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2025 - higher than) the standard rate of corporation tax in the UK of 25% (2025 - 25%). The differences are explained below:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Profit/(loss) on ordinary activities before tax | 1,090,482 | (212,911)
| Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%) | 272,621 | (53,228)
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | (4,991) | 67,131
| Capital allowances for year in excess of depreciation | 11,275 | 19,235
| Book profit on chargeable assets | (1,739) | 12,187
| Group relief | - | (11,083)
| Total tax charge for the year | 277,166 | 34,242
12. | Dividends
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Dividends paid | 250,000 | 250,000
Page 20
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026
13. | Intangible assets
|  | Computer Software
|  | £
| Cost |
| At 1 May 2025 | 8,585
| Additions | 4,995
| At 30 April 2026 | 13,580
| Amortisation |
| At 1 May 2025 | 135
| Charge for the year on owned assets | 1,275
| At 30 April 2026 | 1,410
| Net book value |
| At 30 April 2026 | 12,170
| At 30 April 2025 | 8,450
Page 21
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026
14. | Tangible fixed assets
|  | Freehold property | Plant and machinery | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 May 2025 | 2,193,209 | 966,959 | 140,807 | 530,065 | 3,831,040
| Additions | 4,600 | 40,340 | - | 17,770 | 62,710
| Disposals | - | - | (37,301) | - | (37,301)
| At 30 April 2026 | 2,197,809 | 1,007,299 | 103,506 | 547,835 | 3,856,449
| Depreciation |  |  |  |  |
| At 1 May 2025 | 94,988 | 819,718 | 65,340 | 434,649 | 1,414,695
| Charge for the year on owned assets | 49,427 | 28,755 | 25,506 | 27,817 | 131,505
| Disposals | - | - | (31,084) | - | (31,084)
| At 30 April 2026 | 144,415 | 848,473 | 59,762 | 462,466 | 1,515,116
| Net book value |  |  |  |  |
| At 30 April 2026 | 2,053,394 | 158,826 | 43,744 | 85,369 | 2,341,333
| At 30 April 2025 | 2,098,222 | 147,241 | 75,467 | 95,416 | 2,416,346
The freehold property was valued on an open market for existing use basis by the directors, based on an average of the professional valuations obtained from Fisher Hargreaves Proctor Limited and Innes England Limited on 31 March 2023. The directors do not consider the movement in market values since that time to be material. Page 22
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026
15. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 May 2025 | 1,030,677
| Disposals | (1)
| At 30 April 2026 | 1,030,676
| Impairment |
| At 1 May 2025 | 20,301
| At 30 April 2026 | 20,301
| Net book value |
| At 30 April 2026 | 1,010,375
| At 30 April 2025 | 1,010,376
| Subsidiary undertakings
| The following were subsidiary undertakings of the company:
| Name | Registered office | Principal activity | Class of shares | Holding
| Jet Press Shirebrook Limited | Kingfisher House, Portland Road, Shirebrook, Mansfield, Notts, UK, NG20 8TY | Manufacturer of fasteners and plastics products | Ordinary | 100%
| Components Direct Limited | Nunn Close, Huthwaite, Notts, UK NG17 2HW | Dormant | Ordinary | 100%
| Jet Press GmbH | An der Welle 10. 60322 Frankfurt am Main, Germany | Dormant | Ordinary | 100%
Page 23
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026
16. | Stocks
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Raw materials and consumables | 3,733 | 3,888
| Finished goods and goods for resale | 2,616,397 | 2,209,608
|  | 2,620,130 | 2,213,496
17. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade debtors | 1,373,697 | 1,196,930
| Amounts owed by group undertakings | 29,979 | 23,827
| Other debtors | 82,441 | 30,872
| Prepayments and accrued income | 237,348 | 293,880
|  | 1,723,465 | 1,545,509
18. | Cash and cash equivalents
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Cash at bank and in hand | 900,315 | 952,038
19. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade creditors | 418,654 | 753,939
| Corporation tax | 278,905 | 15,641
| Other taxation and social security | 244,694 | 266,626
| Other creditors | 18,218 | 41,184
| Accruals and deferred income | 89,415 | 72,502
|  | 1,049,886 | 1,149,892
Page 24
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026
20. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Other loans | 873,510 | 873,510
21. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Amounts falling due 2-5 years |  |
| Other loans | 873,510 | 873,510
| Other loans from the parent company are unsecured. There are no fixed repayment terms but the parent company directors consider this to be a long term financing arrangement and have indicated that they do not intend calling any amounts in during the coming year.
22. | Financial instruments
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Financial assets |  |
| Financial assets measured at fair value through profit or loss | 900,315 | 952,038
| Financial assets that are debt instruments measured at amortised cost | 1,403,676 | 1,220,757
|  | 2,303,991 | 2,172,795
| Financial liabilities |  |
| Financial liabilities measured at amortised cost | 1,381,579 | 1,699,951
| Financial assets measured at fair value through profit or loss comprise cash and bank balances.
| Financial assets measured at amortised cost comprise trade and group debtors.
| Financial liabilities measured at amortised cost comprise trade and group creditors and accruals.
Page 25
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026
23. | Deferred taxation
|  | 2026
|  | £
| At beginning of year | 78,628
| Charged/(credited) to profit or loss | 1,739
| At end of year | 76,889
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Accelerated capital allowances | 76,889 | 78,628
24. | Share capital
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 10,000 (2025 - 10,000) Ordinary Shares shares of £1.00 each | 10,000 | 10,000
25. | Reserves
Revaluation reserve Unrealised gains and losses on revaluation of fixed assets, net of the related deferred tax charge, are held separately in the asset revaluation reserve. These gains are not distributable. The difference between depreciation calculated on the valuation of the the relevant assets and on their historical cost is released to the profit and loss account each year. Profit and loss account Profits after dividends are accumulated and carried forward in the profit and loss account.
26. | Pension commitments
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 £193,363 (2025: £212,529 contributions of £14,492 (2025: £37,622) were outstanding at the balance sheet date. Page 26
JET PRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026
27. | Commitments under operating leases
| At 30 April 2026 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Not later than 1 year | - | 9,321
| Later than 1 year and not later than 5 years | 85,714 | 70,799
|  | 85,714 | 80,120
28. | Controlling party
The company is a wholly owned subsidiary of Jet Press Holdings Limited, a private limited company incorporated and domiciled in Scotland. The company's results are included in the group financial statements prepared by Jet Press Holdings Limited, which can be obtained from Companies House (company number SC619070). G Schwarz holds the controlling interest in Jet Press Holdings Limited and is therefore the ultimate controlling party of Jet Press Limited.
Page 27