Registration number:
James Gibbons Format Limited
for the Year Ended 31 December 2025
James Gibbons Format Limited
Contents
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Company Information |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
James Gibbons Format Limited
Company Information
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Directors |
G Dicken RJ Newman |
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Company secretary |
AS Harrison |
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Registered office |
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Auditors |
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James Gibbons Format 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 of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is the supply of architectural ironmongery.
Environmental matters
Streamlined Energy and Carbon Reporting
Under The Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, together with the accompanying government guidance ‘Environmental Reporting Guidelines: Including streamlined energy and carbon reporting guidance March 2019’, the Company is entitled to take exemption from reporting on its energy consumption.
This information is instead reported at consolidated level in the financial statements of the company’s ultimate parent, Newship Group Limited.
Disclosure of information to the auditor
Each director has taken all steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware of.
Reappointment of auditors
In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Cooper Parry Group Limited as auditors of the company is to be proposed at the forthcoming Annual General Meeting.
Small companies provision statement
This report has been prepared in accordance with the provisions applicable to companies entitled to small companies' exemption.
Approved and authorised by the
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James Gibbons Format Limited
Statement of Directors' Responsibilities
The directors are responsible for preparing 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• | select suitable accounting policies and apply them consistently; |
• | make judgements and accounting estimates that are reasonable and prudent; |
• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
James Gibbons Format Limited
Independent Auditor's Report to the Members of James Gibbons Format Limited
Opinion
We have audited the financial statements of James Gibbons Format Limited (the 'company') for the year ended 31 December 2025, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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.
James Gibbons Format Limited
Independent Auditor's Report to the Members of James Gibbons Format Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Directors' report has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors’ remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit; or |
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• |
the directors were not entitled to prepare the financial statements in accordance with the small company's regime and take advantage of the small companies exemption from the requirement to prepare a strategic report or preparing the directors' report. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities 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.
Auditor 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 auditor’s 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:
James Gibbons Format Limited
Independent Auditor's Report to the Members of James Gibbons Format Limited
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We discussed with the Directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.
During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation.
Our procedures in relation to fraud included but were not limited to: inquiries of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
James Gibbons Format Limited
Independent Auditor's Report to the Members of James Gibbons Format Limited
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 auditor’s 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.
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For and on behalf of
5th Floor
5 Appold St
London
EC2A 2AG
James Gibbons Format Limited
Profit and Loss Account for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Distribution costs |
( |
( |
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Administrative expenses |
( |
( |
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Operating profit |
4 |
29 |
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Profit before tax |
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Tax on profit |
- |
( |
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Profit for the financial year |
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James Gibbons Format Limited
Statement of Comprehensive Income for the Year Ended 31 December 2025
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2025 |
2024 |
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Profit for the year |
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Total comprehensive income for the year |
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James Gibbons Format Limited
(Registration number: 4240188)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
325 |
325 |
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Retained earnings |
(27) |
(31) |
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Shareholders' funds |
298 |
294 |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved and authorised by the
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James Gibbons Format Limited
Statement of Changes in Equity for the Year Ended 31 December 2025
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Share capital |
Retained earnings |
Total |
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At 1 January 2024 |
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( |
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Profit for the year |
- |
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At 31 December 2024 |
325 |
(31) |
294 |
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Share capital |
Retained earnings |
Total |
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At 1 January 2025 |
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( |
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Profit for the year |
- |
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At 31 December 2025 |
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( |
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James Gibbons Format Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital incorporated and domiciled in England and Wales.
The address of its registered office is:
United Kingdom
The principal place of business is:
11 - 13 Jubilee Parkway
Stores Road
Derby
DE21 4BJ
United Kingdom
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to the small company's regime and under the historical cost convention.
Summary of disclosure exemptions
The company has taken advantage of the exemption from the following information, as permitted by the reduced disclosure regime within FRS 102:
Section 7 'Statement of Cash Flows' - Presentation of a Statement of Cash Flow and related notes and disclosures.
Section 11 'Basic Financial Instruments' & Section 12 'Other Financial Instruments Issues' - Interest income/Expense and net gains/losses for financial instruments not measured at fair value, amount of any impairment loss, risks arising from financial instruments and transferred financial assets not derecognised, loan defaults or breaches and description of hedging relationships.
Section 33 'Related Party Disclosures' - Compensation for key management personnel.
Name of parent of group
These financial statements are consolidated in the financial statements of Newship Group Limited.
The financial statements of Newship Group Limited may be obtained from Fernside Place, 179 Queens Road, Weybridge, Surrey, KT13 0AH.
James Gibbons Format Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Going concern
At the time of approving the financial statements, given the current financing and availability of group support, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being a period of at least 12 months from time of approval. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Judgements
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Critical accounting estimates and assumptions |
The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the
respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary
items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on
the initial transaction dates.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of the tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
James Gibbons Format Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
10 - 33% per annum |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Financial instruments
Financial assets
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
James Gibbons Format Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Financial liabilities and equity
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as an employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Turnover |
The analysis of the company's revenue for the year from continuing operations is as follows:
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2025 |
2024 |
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Sale of goods |
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The analysis of the company's turnover for the year by market is as follows:
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2025 |
2024 |
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UK |
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Europe |
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Rest of world |
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James Gibbons Format Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Operating profit |
Arrived at after charging/(crediting)
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2025 |
2024 |
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Depreciation expense |
|
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Profit on disposal of property, plant and equipment |
- |
( |
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Audit of the financial statements |
7 |
6 |
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
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2025 |
2024 |
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Wages and salaries |
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Social security costs |
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Pension costs, defined contribution scheme |
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The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
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2025 |
2024 |
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Administration and support |
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Sales, marketing and distribution |
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James Gibbons Format Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Taxation |
Tax charged in the income statement
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2025 |
2024 |
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Current taxation |
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UK corporation tax |
- |
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The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2024 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
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2025 |
2024 |
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Profit before tax |
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Corporation tax at standard rate |
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Tax decrease from effect of capital allowances and depreciation |
( |
( |
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Total tax charge |
- |
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James Gibbons Format Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2025 |
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Additions |
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At 31 December 2025 |
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Depreciation |
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At 1 January 2025 |
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Charge for the year |
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At 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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At 31 December 2024 |
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Stocks |
|
2025 |
2024 |
|
|
Finished goods and goods for resale |
|
|
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Debtors |
|
Current |
Note |
2025 |
2024 |
|
Trade debtors |
|
|
|
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Amounts owed by related parties |
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Prepayments |
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Accrued income |
|
|
|
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Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash at bank |
|
|
James Gibbons Format Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
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Trade creditors |
|
|
|
|
Amounts due to group undertakings |
|
|
|
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Corporation tax |
5 |
5 |
|
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Social security and other taxes |
|
|
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Accruals and deferred income |
|
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|
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Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
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Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. 000 |
£ 000 |
No. 000 |
£ 000 |
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|
|
|
325 |
|
325 |
Rights, preferences and restrictions
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Ordinary shares have the following rights, preferences and restrictions: |
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Reserves |
Profit and loss
The profit and loss account is made up of retained profits and losses of the company.
James Gibbons Format Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
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Later than one year and not later than five years |
|
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The amount of non-cancellable operating lease payments recognised as an expense during the year was £
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Contingent liabilities |
The company was part of an unlimited composite company bank guarantee agreement to secure and cross-guarantee the liabilities of each of the other companies. The co-signatories are Newship Limited, Beatson Clark Limited, Pont Packaging BV and Lewis and Towers Limited. These arrangements came to an end in January 2025.
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Related party transactions |
Summary of transactions with other related parties
Income and receivables from related parties
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2025 |
Other related parties |
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Sale of goods |
|
|
|
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|
2024 |
Other related parties |
|
Sale of goods |
|
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James Gibbons Format Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Expenditure with and payables to related parties
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2025 |
Other related parties |
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Leases |
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|
2024 |
Other related parties |
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Leases |
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The smallest group for which consolidated accounts including James Gibbons Format Limited are prepared is Newship Limited. The most senior parent entity producing publicly available financial statements is