JAKTO_HOLDINGS_LIMITED - Accounts

The directors present the strategic report and financial statements for the year ended 30 November 2015.

The consolidated profit and loss account for the year is set out on page 6.

It is proposed that the retained profit of £603,827 is transferred to the group's reserves.

The key financial highlights are as follows:-

2015 2014 2013 2012

£ £ £ £

Turnover 14,112,577 12,262,838 15,743,292 11,206,599

Turnover growth (percent) 15.1 -22.1 40.5 0.6

Gross profit margin (percent) 35.6 34.5 30.8 30.3

Profit before tax 1,909,569 1,521,402 2,281,528 714,658

Risk Management

The group's financial instruments comprise bank balances, bank overdrafts, trade creditors, trade debtors, and HP finance. The main purpose of these instruments is to raise funds and finance the group's operations. The group keeps it's exposure to price risk to a minimum by negotiating HP finance facilities on a regular basis. In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of the bank overdraft.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

The principal activity of the company continued to be that of a holding company. The principal activity of the subsidiary undertaking is shown in note 10 to the accounts.

The principal activity of the subsidiary undertaking is shown in note 10 to the accounts.

In the opinion of the directors, the value of the group's long term leasehold land and buildings is not materially in excess of that shown in the financial statements when considered in relation to its use in the group's operations.

A resolution to reappoint GBAC Limited as auditor of the company will be proposed at the forthcoming annual general meeting.

So far as the directors are aware, there is no relevant audit information of which the group's auditor is unaware. Additionally, the directors have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the group's auditor is aware of that information.

We have audited the group and parent company financial statements (the "financial statements") of Jakto Holdings Limited for the year ended 30 November 2015 set out on pages 6 to 22. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements: give a true and fair view of the state of the group’s and parent company's affairs as at 30 November 2015 and of the group's 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. In our opinion the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

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.

In our opinion the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

certain disclosures of directors' remuneration specified by law are not made; or

The financial statements are prepared under the historical cost convention.

The group financial statements comprise all of its subsidiary undertakings. In accordance with section 405 of the Companies Act 2006, no profit and loss is presented for the company. The companies included within the financial statements are disclosed in note 10.

Goodwill arising on an acquisition represents any excess of the fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is recognised as an asset and is reviewed for impairment annually. Any impairment is recognised immediately in the group's profit and loss account. Amortisation is charged on a straight line basis over the asset's useful life, which is estimated to be 10 years.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in 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.

Stock is valued at the lower of cost and net realisable value.

Dividends totalling £3,000 per share (2014 £3,000) were declared during the year.

Jakto Transport Limited

Registered in England and Wales

Nature of business: Haulage contractors, site clearance and excavation

Class of shares: Ordinary

Holding: 100% 2015 2014

£ £

Aggregate capital and reserves 3,867,374 3,240,911

Profit for the year 1,426,463 1,112,707

The company has been included in the consolidated financial statements.

During the year the company purchased back 12 of the 72 ordinary shares in issue, for a sum of £750,000.

The company has entered into various performance bonds during the year ended 30 November 2015. At the year end the value of the bonds outstanding was £594,000 (2014: £442,000).

Group

Mr G A Hellewell and Mrs J Hellewell resigned as directors of the company during the previous year, They also sold 12 (2014 28) of their 40 shares back to the company for a sum of £750,000 (2014 £1,750,000). Whilst they were shareholders, they received dividends during the previous year from Jakto Holdings Limited totalling £60,000. At the year end there was an amount owed to Mr and Mrs Hellewell totalling £250,000 (2014: £5,000) by Jakto Holdings Limited.

Director, Mr N Hellewell received dividends during the year from Jakto Holdings Limited totalling £60,000 (2014 £60,000). At the year end there was an amount owed to Mr Hellewell of £nil (2014 £5,000) by the holding company.

Director, Mr A Hellewell received dividends during the year from Jakto Holdings Limited totalling £60,000 (2014 £60,000) At the year end there was an amount owed to Mr Hellwell of £10 (2014 £10) by Jakto Transport Limited and an amount of £nil (2014 £5,000) owed to Mr Hellewell by Jakto Holdings Limited.

Director, Mrs S Armitage received dividends during the year from Jakto Holdings Limited totalling £60,000 (2014 £60,000). At the year end there was an amount owed to Mrs Armitage of £20 (2014 £20) by Jakto Transport Limited and an amount of £nil (2014 £5,000) owed to Mrs Armitage by Jakto Holdings Limited.

Director, Mr D Gleadall received a loan from the subsidiary company totalling £5,000 (2014 £5,000) and repayments of £4,900 were made during the year. The balance due to the subsidiary company at the year end totalled £3,500 (2014 £3,400).

Company

Mr G A Hellewell and Mrs J Hellewell had a loan account with the company with the balance owing at the year end totalling £250,000 (2014: £5,000).

Director, Mr N Hellewell had a loan account with the company with the balance owing at the year end totalling £nil (2014 £5,000) due to the director.

Director, Mr A Hellewell had a loan account with the company, with the balance owing at the year end totalling £nil (2014: £5,000) due to the director.

Director, Mrs S Armitage had a loan account with the company, with the balance owing at the year end totalling £nil (2014: £5,000) due to the director.

The ultimate controlling parties are the directors, who together own 100% of the shares in the holding company at the year end.

During the year, the company received rent of £160,008 (2014 £160,008) and dividends of £800,000 (2014 £400,000) from Jakto Transport Limited, a wholly owned subsidiary. There is balance due to Jakto Holdings Limited by Jakto Transport Limited, at the year end amounting to £ 82,700 (2014 £82,700). The company purchased back a total of 12 shares owned by Mr G and Mrs J Hellewell for a sum of £750,000. Mr and Mrs Hellewell both resigned as directors of the company in 2014.

The company purchased back a total of 12 shares owned by Mr G and Mrs J Hellewell for a sum of £750,000. Mr and Mrs Hellewell both resigned as directors of the company in 2014.