1.
General Information
JCH Marine & Offshore Supplies Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
07079065
. The registered office is Jch House, Highgate Trade Park, Charles Clowes Drive, Stoke-On-Trent, Staffordshire, ST6 4JZ.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, excluding discounts,rebates, value added tax and other sales taxes.
2.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
|
| Leasehold |
|
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
2.5.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.7.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.8.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
JCH Marine & Offshore Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
2.9.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.10.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3.
Turnover
Analysis of turnover by geographical market is as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| United Kingdom |
|
|
|
| Europe |
|
|
|
| South America |
|
|
|
| Rest of the world |
|
|
|
| 12,264,764 | 13,098,694 | ||
4.
Operating Profit
The operating profit is stated after charging:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Operating lease rentals |
|
|
|
| Exchange differences |
|
|
|
| Depreciation of tangible fixed assets |
|
|
|
| Amortisation of intangible fixed assets | - |
|
|
|
Loss (profit) on disposal of fixed assets
|
(2,323)
|
31,516
|
|
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|
|
JCH Marine & Offshore Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
5.
Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
| Other Services | |||
| Other non-audit services |
|
|
|
6.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
7.
Average Number of Employees
Average number of employees, including directors, during the year was: 26 (2024: 27)
8.
Directors' remuneration
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
The number of directors to whom retirement benefits were accruing was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| Money purchase pension schemes |
|
|
|
9.
Interest Receivable and Similar Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable | - |
|
|
| Other interest receivable type A | - | 9,145 | |
| - | 9,161 | ||
JCH Marine & Offshore Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
10.
Interest Payable and Similar Charges
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | - |
|
|
| Factoring charges | 171,428 | 233,261 | |
| Finance charges payable under finance leases and hire purchase contracts | - | (5,929) | |
| Other finance charges |
|
|
|
| 201,406 | 242,165 | ||
11.
Tax on Profit
The tax charge on the profit for the year was as follows:
| Tax Rate | 2025 | 2024 | |||
|---|---|---|---|---|---|
| 2025 | 2024 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
|
|
| Deferred Tax | |||||
| Deferred taxation |
( |
( |
|||
| Total tax charge for the period |
|
|
|||
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 588,902 | 828,649 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Tax losses utilised |
|
( |
|||
| Capital allowances |
|
( |
|||
| Short term timing differences |
( |
( |
|||
| Total tax charge for the period | 152,066 | 189,638 | |||
12.
Intangible Assets
| Goodwill | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 December 2024 |
|
||
| As at 30 November 2025 |
|
||
| Amortisation | |||
| As at 1 December 2024 |
|
||
| As at 30 November 2025 |
|
||
...CONTINUED
JCH Marine & Offshore Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
| Net Book Value | |||
| As at 30 November 2025 |
|
||
| As at 1 December 2024 |
|
||
13.
Tangible Assets
| Land & Property | |||||
|---|---|---|---|---|---|
| Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 December 2024 |
|
|
|
|
|
| Additions |
|
|
|
|
|
| Disposals |
|
|
( |
( |
( |
| As at 30 November 2025 |
|
|
|
|
|
| Depreciation | |||||
| As at 1 December 2024 |
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| Disposals |
|
|
( |
|
( |
| As at 30 November 2025 |
|
|
|
|
|
| Net Book Value | |||||
| As at 30 November 2025 |
|
|
|
|
|
| As at 1 December 2024 |
|
|
|
|
|
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Plant & Machinery |
|
|
|
| Fixtures & Fittings |
|
|
|
| Motor Vehicles |
|
|
|
|
|
|
||
14.
Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
|
|
|
JCH Marine & Offshore Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
15.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Amounts owed by participating interests | 400,818 | 415,817 | |
| Other debtors | 921,440 | 853,197 | |
|
|
|
||
16.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Other loans |
|
|
|
| Other creditors | 32,861 | 102,537 | |
| Corporation tax |
|
|
|
| Accruals and deferred income | 278,662 | 279,293 | |
|
|
|
||
Included within other loans under one year is £1,263,889 (2024: £1,867,120) due to the invoice financing company, this amount is secured by way of fixed and floating charge on the company assets.
17.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
18.
Loans
An analysis of the maturity of loans is given below:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due within one year or on demand: | |||
| Other loans |
|
|
|
19.
Obligations Under Finance Leases and Hire Purchase
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
|
|
|
||
|
|
|
||
JCH Marine & Offshore Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
20.
Deferred Taxation
The provision for deferred tax is made up as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other timing differences | 4,389 | 18,060 | |
21.
Provisions for Liabilities
| Deferred Tax | Total | |
|---|---|---|
| £ | £ | |
| As at 1 December 2024 |
|
18,060 |
| Deferred taxation |
( |
( |
| Balance at 30 November 2025 |
|
4,389 |
23.
Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £75,779 (2024: £105,420).
24.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at 1 December 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 30 November 2025 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr John Hynes |
|
|
( |
- |
|
The above loan is unsecured, interest free and repayable on demand.
25.
Dividends
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
|
|
|
JCH Marine & Offshore Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
26.
Related Party Disclosures
L & J Holdings Ltd
A company under common control.
During the year, the company paid rent of £115,000 (2024: £123,000) to L & J Holdings Ltd.
Additionally, during the year, the company recceived loan repayments of £14,999 (2024: £45,000) from L & J Holdings Limited. At the end of the year, the balance due from L & J Holdings Limited was £400,818 (2024: £415,817).
The company has provided guarantees on behalf of L & J Holdings Limited in respect of loans owed by that company. The loans are secured by way of a fixed charge over the property held in that company and therefore it is highly unlikely that any liability will arise in this company.
27.
Controlling Parties
The company's ultimate controlling party is
John Hynes
by virtue of their interest in the share capital of the company.