The directors present the strategic report for the year ended 31 January 2026.
During the year 2025-2026 the group had an increase in turnover from £13m in 2024-25 to £14.7m in 2025-26. There was an increase in margin from 13.9% to 14.9%, and the group produced a net profit of £129,336 which is a significant improvement on the £9,085 achieved in 2024-25 and a positive step forward for the business as a whole.
From a well-structured plan to continual review and thorough analysis of the product portfolio, we have continued to maximise our stock turnover and as a result have been able to further invest in the strong relationships already established with our customers and suppliers. Whilst the group finished with a negative cash balance of £342,630, this was an unfortunate timing issue only and was immediately rectified in the month of February 2026 when all rebates were received.
Building upon the foundations established in previous years, the group has continued to refine and invest in its online retail platform, further enhancing our deep understanding of our marketplace and strengthening our digital positioning. Throughout 2025-2026, we have fine-tuned our ecommerce strategies and worked closely alongside our key service suppliers, utilising increasingly accurate data analytics to maximise the effectiveness and return on investment of our marketing budgets. This ongoing optimisation continues to drive sustainable online growth.
The wholesale arm of the business has continued to nurture its existing customer relationships while actively seeking and securing strategic new partnerships within our industry sphere. Our experienced team continues to fine-tune bespoke commercial packages tailored to evolving customer needs. During 2025-2026, the company successfully maintained its status as a preferred supplier to major buying groups, consistently proving our ability to deliver a wide portfolio of leading brands reliably to retail locations across the UK.
Our commitment to robust Health & Safety systems and proactive HR management remains strong. Building on the comprehensive training delivered to key personnel, we have continued to embed and fine-tune these frameworks across the management team and wider staff body. Maintaining our active partnerships with our third-party H&S consultancy and legal advisers has ensured that safety policies, staff support structures, and regulatory compliance reviews operate seamlessly and cycle effectively, driving continuous workplace improvement.
We have maintained a sharp focus on performance management, efficiency, and team development. Our management team continues to optimise productivity by constantly reviewing internal processes and refining workflows. Furthermore, our flexible IT and digital infrastructure have undergone further enhancements to keep our online offering agile and responsive to market developments. Across procurement, inventory management, and strategic planning, our continued focus on fine-tuning operations has directly contributed to the company’s improved margin and overall profitability.
Excellence in customer service remains at the heart of our operations. By continuing to prioritise the customer experience at every touchpoint, we have maintained excellent positive feedback and engagement across all major review platforms throughout the year.
The group considers supply chain disruption and general economic pressures, such as rising operational costs across the wider economy, as its primary operational risks. To mitigate geopolitical instability and international shipping delays, the business maintains alternative sourcing across multiple manufacturers and preserves strong relationships with key suppliers by paying to agreed terms. Domestic cost pressures, including statutory wage adjustments and increased Employer National Insurance contributions, are proactively managed by remaining efficient with productivity, ensuring we can support our staff with their cost of living while maintaining business stability through strict procurement controls and cross-functional process efficiencies across our operations.
All operational costs and revenues remain sterling based within the UK, eliminating direct foreign exchange exposure; as such, the company does not utilise currency hedging. Liquidity and working capital requirements are robustly maintained, specifically mitigating short term cash flow timing differences such as supplier rebates, through appropriate short term or long-term financial facilities.
Given the challenges faced by the wider UK economy in terms of changes in interest rates and the pressures this puts on the UK housing and building industries, the group has still been able to grow its market share by developing both processes and practices over a four-year period to work with customers closely to ensure stability and when required a flexible approach that meets our customers' needs.
The group continues to invest in the long-term future and has working capital facilities from a supportive bank in order to expand trading.
On behalf of the board
The directors present their annual report and financial statements for the year ended 31 January 2026.
Ordinary dividends were paid amounting to £124,000. The directors do not recommend payment of a further dividend.
Preference dividends were paid amounting to £56,298. The directors do not recommend payment of a final dividend.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Information relating to events since the end of the year is given in the notes to the financial statements.
The auditors, Fairhurst Audit Services Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.
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 Entwistle & Joynt Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2026 which comprise 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.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
In identifying and addressing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we have identified included Companies Act 2006, Tax legislation, Price Regulation Legislation, data protection, employment, environmental and health & safety legislation.
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing minutes of meetings and inspecting legal correspondence.
In assessing the susceptibility of the company's financial statements to material misstatement, including obtaining and understanding of how fraud might occur;
We gained an understanding of the controls that management have in place to prevent and detect fraud. We enquired of management about any instances of fraud that had taken place during the year.
To address the risk of fraud through management bias and override of controls;
We performed analytical procedures to identify any unusual or unexpected relationships;
We tested journal entries to identify unusual transactions; and
We assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.
Due 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. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.
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.
The notes on pages 15 to 26 form part of these financial statements.
The notes on pages 15 to 26 form part of these financial statements.
The notes on pages 15 to 26 form part of these financial statements.
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 £180,298 (2025 - £193,748 profit).
The notes on pages 15 to 26 form part of these financial statements.
The notes on pages 15 to 26 form part of these financial statements.
The notes on pages 15 to 26 form part of these financial statements.
Entwistle & Joynt Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is 62 Darlington Street East, Wigan, Lancashire, WN1 3AT.
The group consists of Entwistle & Joynt Holdings Limited 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 financial statements incorporate those of Entwistle & Joynt Holdings Limited and its subsidiary undertakings (ie entities that the group controls through its power to govern the financial and operating policies so as to gain economic benefits).
All financial statements are made up to 31st January 2026.
The directors have prepared a cashflow forecast which demonstrates that the group should be able to work within its agreed banking facilities, whilst being able to continue to meet its liabilities as they fall due for payment during the 12 month period following approval of the accounts. Therefore the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover represents amounts recievable for the sale of goods as machinery and tool distributors, net of VAT amd trade discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
In the company's financial statements, investments in subsidiary undertakings are stated at cost less impairment.
The consolidated financial statements incorporate the financial statements of the company and entities controlled by the group using accounting policies consistent with those of the parent. All intra group transactions, balances, income and expenses are eliminated in full on consideration.
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.
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.
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.
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.
The group does not have any financial assets which are not classified as basic financial instruments.
Financial assets 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 and bank loans are initially recognised at transaction price unless the arrangements constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts 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.
The group does not have any financial liabilities which are not classified as basic financial instruments.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Development expenditure
Identifiable development expenditure is written off against profits in the year in which it is incurred, even if the technical, commercial and financial feasibility can be demonstrated.
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.
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
The useful economic life of tangible fixed assets is judged at the point of purchase and is then reassessed at each reporting date. A useful economic life of 50 years is applied to land and buildings, 4 years for plant and machinery and motor vehicles, and 10 years for fixtures, fittings and equipment.
At inception of each lease, management undertake an assessment of the terms of the lease including the payments to be made over the life of the lease, the fair value of the asset subject to the lease, the length of the lease and whether the terms of the lease transfer substantially all of the risks and rewards of ownership.
Based on the assessment, management will determine whether the lease should be classified as a finance or operating lease.
The directors are required to consider whether the preference shares constitute debt or equity instrument. The preference shares are redeemable at the direction of the board of directors. The shares confer the right to a cumulative variable preferential dividend at a variable rate to be determined by the board, in consultation with shareholders. As the shares do no carry any fixed contractual cashflows, the directors have concluded that the shares represent an equity instrument.
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.
At each balance sheet date, management undertake a review of the outstanding trade debtor balances and estimate the balance that should either be impaired or provided against.
The calculation is based on the financial position of the customers, the historical speed of payment and any ongoing discussions.
At each balance sheet date, management undertake an assessment of the value at which stock items are held within the accounts. The provision is calculated on an individual stock line basis, with due regards to previous and expected future stock movements. The provision is reviewed and updated at each reporting date.
The turnover and profit before taxation are attributable to the one principal activity of the group.
As permitted by section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.
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 January 2026 are as follows:
Total bank borrowings were secured by a first legal charge over the property at 62 Darlington Street East, Wigan, a debenture incorporating a fixed and floating charge over the group's current and future assets. There is a cross company guarantee across the group.
The group operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
Minimum lease payments under non-cancellable operating leases fall due as follows:
Dividends of £135,224 have been paid to the shareholders between the balance sheet date and the signing of the auditor's report.
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.