The directors present the strategic report for the year ended 31 December 2025.
JCW Capital Holdings Ltd exists to own and control its subsidiary companies, CHN Investment Management Ltd, of which it is an 80% shareholder, and Clayton Holmes Naisbitt Financial Consultancy LLP (CHNFC), of which JCW is a designated member. All businesses within the group operate within the financial services industry and provide independent financial advice and brokerage of financial products to private individuals and private businesses. The Group is based in Leeds, West Yorkshire, and this is area is where the majority of the client base is situated.
JCW creates value for the Group by providing leadership, compliance and operational oversight over all members of the group by utilising a shared leadership and management team. The individual businesses benefit through employing economies of scale that they could not access without this group structure, as well as benefiting from synergy of leadership. Through this Group structure, CHN Investment Management provide discretionary managed portfolio solutions to CHNFC on an “agent as client” basis. The portfolios are designed to meet the needs of the underlying investors, predominantly retail client’s receiving regulated investment advice from CHN FC LLP.
The firm’s initial business is the management of assets invested in the CHNFC Centralised Investment Proposition (CIP). CHN Investment Management have responsibility for managing the portfolios in line with the mandate and CHNFC provide the underlying investor with holistic financial advice and monitor ongoing suitability of their investment in the CHN CIP.
In 2025, Group revenues were £1,444,112, an over 100% increase on 2024 revenue. This is as a result of CHN IM’s trade commencing in 2025, as well as growth in CHN FC LLP, with several new financial advisors joining that business in the period. It is expected that group revenues will grow again in 2026, but by a lesser amount. Group profits were £1,221,078 in Operating Profit, £964,206 in Net profit, both of which are substantially more than 2024 profit figures. Group Cash flows saw a net increase of cash and equivalent of £789,818, more than three times the cash increase of 2024. As previously stated, this is due to increases in business trade, but has also arisen due to improved management of cash reserves and associated interest incomes, as well as no requirement to pay any bank loans or other finance obligations.
Key developments within the Group include the commencement of trading in CHN Investment management. CHN Investment Management was established in 2019 but was only able to begin trading in 2025 due to delays in licencing. CHN Investment Management has achieved Asset Under Management growth, and as a result, income growth, far in excess of what was forecast. The performance of CHN Investment Management was revenue of £357,262, gross profit of £232,262 and operating profit of £146,668. In 2024 the business had no revenue and was loss making as it was still setting up before trade commenced. Performance in CHNFC saw increased turnover and profits in 2025 compared to 2024. The primary reason for this growth in income was four additional financial advisors joining the business in the year, which provided additional revenues without the need to substantially increase overheads to increase capacity.
In the future, it is expected that business performance across the group will remain robust and continue to improve. CHN Investment Management expects to see continued strong growth to Assets Under Management and resulting incomes. CHNFC intends to acquire additional income portfolios and hire additional financial advisors to service them as a key driver of business growth. CHNFC is committed to staff development, both of financial advisors, but also support staff, to ensure the business is equipped with the required skills to meet future business needs.
Key risks facing JCW and the Group include key risks across the Group such as; loss of access to business reserves held, and Market corrections.
CHNFC faces a number of specific risks. There is a strategic risk arising in the acquisition of portfolios of clients to fuel income growth. Portfolios are valued based on previous income and growth performance, however continued future growth is not certain, and slowed growth or a reduction in portfolio due to clients leaving the business or market performance could result in the value decreasing, and CHNFC facing a reduced/longer term return on investment.
CHNFC must always be considerate of its levels of cash reserves and patterns of cashflows as it must be able to pay its liabilities to suppliers and employees; satisfy regulatory requirements regarding “Capital Resources” i.e. cash held, as set out by the Financial Conduct Authority (FCA) and have the needed cash to proceed with planned future business acquisitions to spur future growth.
CHN Investment Management faces the specific risks of trade error, loss of AUM (due to underperformance) and “concentration of clients” risk.
Additionally, due to the nature of that business, it is a requirement that specific risks to capital held and future capital inflows are regularly monitored and updated. The business regularly reviews “stress-testing” scenarios, where the value of Assets Under Management (AUM) is reduced by various amounts and the arising income as a result of these reduced AUM is forecast, which is then assess against the capital requirements that the firm must meet.
The business monitors the formal Risk Register for the most likely risks to the business’ performance, with mitigating factors and controls in place to minimise occurrence of the risk or the resultant consequences.
Both of the above are requirements for the ICARA reporting framework which the business must abide by.
CHNFC and CHN Investment Management are regulated by the FCA and must abide by its rules and regulations, as well as make regular data submissions to the FCA demonstrating that they are doing so. Failure to abide by regulations could result in restrictions being placed on business activities, fines being levied or other penalties that the FCA can apply. Compliance is regularly monitored by the business’ Compliance and Finance managers, with support from a Third-Party compliance expert.
If both or either of the subsidiary businesses in the group underperform financially, then JCW faces a substantial Operational Risk, being a risk affecting JCW that arises from outside of that business, as JCW depends on the successful performance of its subsidiaries to earn an income.
2025 2024
Return on Assets(%) 33.73 18.85
Return on Equity (%) 74.67 (111.25)
Return on Capital Employed (%) 54.48 (123.40)
Current Ratio 6.73 6.73
Debt-to-Equity 0.17 0.17
On behalf of the board
The directors present their annual report and financial statements for the year ended 31 December 2025.
The results for the year are set out on page 10.
No ordinary dividends were paid. The directors do not recommend payment of a further dividend.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
The director acknowledges the importance of effective financial risk management to the success of the company. The primary financial risks faced by the company include market price risk, credit risk, liquidity risk, and cash flow risk. The company's overall risk management strategy is designed to safeguard its financial stability and protect shareholder value.
Market price risk
The company is exposed to market price risk arising from fluctuations in interest rates and commodity prices. To manage this risk, the company regularly monitors market conditions.
Credit risk
Credit risk is the risk that a counterparty will be unable to fulfill its contractual obligations, resulting in financial loss to the company. The company manages credit risk through a comprehensive credit assessment process for customers and suppliers. Credit limits are set based on the assessment of the counterparty's creditworthiness, and ongoing monitoring is performed to ensure compliance.
Liquidity risk
Liquidity risk is the risk that the company may encounter difficulty in meeting its short-term financial obligations. The company maintains sufficient liquidity through a combination of cash reserves, committed credit facilities, and ongoing cash flow management. The director regularly reviews and approves the liquidity risk management strategy.
Cash flow risk
Cash flow risk is the risk that the company may face disruptions in its cash flows, impacting its ability to fund operations and meet financial commitments. The company mitigates cash flow risk by maintaining a diversified customer base, managing working capital efficiently, and closely monitoring cash flow forecasts.
The auditor, Ascendis Audit Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company 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 group and parent company, and of the profit or loss of the group for that period.
In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent 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 group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
We have audited the financial statements of JCW Capital Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the group income statement, the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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).
Basis for opinion
Conclusions relating to going concern
Other information
Opinions on other matters prescribed by the Companies Act 2006
As explained more fully in the directors' responsibilities statement, 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 group's and parent 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 group or parent company or to cease operations, or have no realistic alternative but to do so.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
- the nature of the industry, control environment and business performance including the design of the company's remuneration policies including bonus levels and performance targets;
- results of our enquiries of management about their own identification and assessment of the risks of irregularities;
- any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: bank payment processing (for personal benefit), revenue recognition, together with the presentation of non-underlying items within the financial statements. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included FCA regulations, Companies Act 2006, and tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.
In addition to the above, our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are indicative of a potential bias, and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in our audit procedures described above. The more removed the laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to inquiry of the Director and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £817,539 (2024 - £496,727 profit).
JCW Capital Holdings Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is CHN House, 1 John Charles Way, Gelderd Road, Leeds, LS12 6QA. The company's registered number is 13091511.
The group consists of JCW Capital Holdings Ltd and all of its subsidiaries.
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.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The consolidated group financial statements consist of the financial statements of the parent company JCW Capital Holdings Ltd together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.
All financial statements are made up to 31 December 2025. No adjustments are necessary to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.
Investments in joint ventures and associates are carried in the group statement of financial position at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.
If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.
Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.
At the time of approving the financial statements, the directors have a reasonable expectation that the group and parent company have adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Revenue comprises commission and management recharges from fellow group companies which are recognised when receivable. VAT is not charged on this revenue.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.
Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.
In the parent company financial statements, investments in associates are accounted for at cost less impairment.
Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's statement of financial position when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and 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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
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 group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.
The 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 net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
There are no key judgements requiring disclosure.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment, management considers factors including the ageing profile and recent correspondence with the debtors and historical experience.
The whole of the turnover is attributable to the principal activity of financial consultancy. The activities were wholly undertaken in the United Kingdom.
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
Details of the company's subsidiaries at 31 December 2025 are as follows:
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
All Ordinary shares have attached to them full voting, dividend and capital distribution rights.
In 2024 other movements relates to a change in minority shareholdings following a share issue by the subsidiary company.
Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.
During the year the group and company entered into the following transactions with related parties:
Other related parties
Group
During the year there were sales made to related parties totalling £1,076,849 (2024 - £716,695) and purchases from the related parties totalling £8,333 (2024 - £10,000). Costs paid by the related parties on behalf of the group total £342 (2024 - £218) and a profit share of £24,310 (2024 - loss of £5129) was attributed to the group. Loans to the related party in the year totalled £156,097 (2024 - £Nil) and loan repayment received during the year totalled £58,316 (2024 - £128,500).
Amounts due to related parties at the year end are £19,727 (2024 - £19,384).
Amounts due from related parties at the year end are £1,018,899 (2024 - £896,807).
Company
During the year there were sales made to related parties totalling £1,076,849 (2024 - £716,695) and a profit share of £24,310 (2024 - loss of £5,129) was attributed to the company. Loans to the related party in the year totalled £156,097 (2024 - £Nil) and loan repayment received during the year totalled £58,316 (2024 - £128,500). There were also further transactions of £Nil (2024 - £138,932)
Amounts due from related parties at the year end are £1,018,899 (2024 - £896,807).
All balances are unsecured, interest-free, and repayable on demand.
Interest free loans have been granted by the group and company to its directors as follows:
The group and company figures for the year ended 31st December 2024 have been restated due to an amendment to prepayments of £110,548 legal and professional fees, consultancy fees and professional subscriptions. £55,805 prepayment has been reversed against legal and professional fees, £53,195 against consultancy fees and £1,548 against professional subscriptions. The directors believe this is a more accurate reflection of the company's expenses incurred in the year.
The company figures only have been restated as at 31 December 2024 due to the reclassification of £50,000 to investments in subsidiaries which has had a subsequent effect on other debtors. This better reflects the nature of the transaction.