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REGISTERED NUMBER: 01567572 (England and Wales)
















J & A (INTERNATIONAL) LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017






J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017




Page

Company Information 1

Strategic Report 2 to 4

Report of the Directors 5 to 6

Report of the Independent Auditors 7 to 8

Income Statement 9

Other Comprehensive Income 10

Statement of Financial Position 11

Statement of Changes in Equity 12

Statement of Cash Flows 13

Notes to the Statement of Cash Flows 14

Notes to the Financial Statements 15 to 23


J & A (INTERNATIONAL) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2017







DIRECTORS: A P Apletree
R Carr
J Carr
C J Fry
S D Holderness
M D Kemp



SECRETARY: P J Law



REGISTERED OFFICE: Insignia House
Vale Road
Spilsby
Lincolnshire
PE23 5HE



REGISTERED NUMBER: 01567572 (England and Wales)



SENIOR STATUTORY AUDITOR: Timothy Godson FCA



AUDITORS: Duncan & Toplis Limited, Statutory Auditor
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2017

The directors present their strategic report for the year ended 31 December 2017.

REVIEW OF BUSINESS
During 2017, the directors continued to commit to growing the business and to investing in new technology.


2017 2016 Change
£    £    %
Turnover 12,491,040 11,323,935 10
Gross profit 6,588,630 6,034,479 9
Administrative
expenses


3,994,185


3,860,858


3


Profit after tax 2,329,136 1,770,803 32
Average number of
employees


138


130




The company traded very well during the year, increasing sales by 10% compared to the previous trading year of 2016.

Administrative expenses increased by 3% compared to the previous year with staff numbers having increased to assist
the company with its expansion and with overseas sales growth.

The company is committed to pursuing responsible and social practices as set out by its Environment & Quality report
which highlights the company's efforts to meet the following criteria:
- Comply with legal requirements
- Continual improvement, development and review
- Minimise emissions, waste and use of raw materials and energy
- Ensure wherever possible, waste products are reusable or able to be disposed of in an environmentally responsible
manner
- Prioritise health, safety and environmental measures.


J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2017

PRINCIPAL RISKS AND UNCERTAINTIES
The company is affected by a number of factors, the principal ones of which are:

- The company is exposed to the risk of negative developments in global and regional economies and financial
markets, either directly or through the impact on the company's bankers, suppliers or customers. These developments
can result in recession, inflation, deflation, currency fluctuations, restrictions in the availability of credit, business
failures in the customer or supplier base, or increases in financing costs, and in the cost of utilities, raw materials and
finished products. Such developments might increase operating costs, reduce revenues, lower asset values or result in
the business being unable to meet in full its strategic objectives.

- The company operates in a competitive market, and failure to compete effectively in terms of price, product
specification or levels of service can have an adverse effect on demand and / or margins.

The company mitigates risk in several ways:

- The company has in place an organisational structure with clearly defined lines of responsibility and delegation of
authority. There are established policies and procedures for the setting of corporate strategies; financial planning and
budgeting for risk management; for information and reporting systems; for systems of operational and financial
internal control; and for monitoring operations and performance.

- Management and staff at all levels work closely with customers and suppliers to operate as effectively and efficiently
as possible, whilst maintaining long term working relationships, innovation and good lines of communication.

- The company operates a recruitment and selection process to ensure employees are experienced and competent in
their work. The workforce is trained to be alert, responsive to customer needs, and to operate in line with the
company's corporate objectives.

FINANCIAL KEY PERFORMANCE INDICATORS
The key financial performance indicators used by the company are turnover, gross profit and operating profit. The
primary balance sheet indicators are solvency and the working capital position.

FUTURE DEVELOPMENTS
The company is proactive and focuses on reinvesting in new, state of the art equipment to continue its growth and to
hold its competitive advantage.

The company remains a responsive, innovative and flexible operator with a highly motivated and well trained
workforce, and is operating successfully.

The directors continue to grow the company in the UK and overseas to ensure a robust and strong business, and look
forward to the future growth of the company with optimism.

PENSIONS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to the profit and loss account in the period to which they relate.

RESEARCH & DEVELOPMENT
In-house research and development activity ensures the company remains at the forefront of printing technology.


J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2017

OVERSEAS OPERATIONS
The company actively develops relationships with customers to help grow export activity from within the UK. During
the year it has focused greater attention and staff in this area.

ON BEHALF OF THE BOARD:





C J Fry - Director


27 July 2018

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2017

The directors present their report with the financial statements of the company for the year ended 31 December 2017.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the manufacture of garment decoration
products for use in the industrial workwear and rental industries. The Company also provides a variety of products
and services which complement the main activity.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2017 will be £ 2,650,000 .

RESEARCH AND DEVELOPMENT
The company is committed to a policy of continuing research and development. During the year research and
development expenditure totalled £71,379 (2016: £63,434).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2017 to the date of this
report.

A P Apletree
R Carr
J Carr
C J Fry
S D Holderness
M D Kemp

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 then 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.

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2017


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies
Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to
have taken as a director in order to make himself aware of any relevant audit information and to establish that the
company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





C J Fry - Director


27 July 2018

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
J & A (INTERNATIONAL) LIMITED

Opinion
We have audited the financial statements of J & A (International) Limited (the 'company') for the year ended
31 December 2017 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial
Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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).

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 a Report of the Auditors 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 company's affairs as at 31 December 2017 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 Auditors' 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
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to
you where:
- the directors' use of the going concern basis of accounting in the preparation of the financial statements is not
appropriate; or
- the directors have not disclosed in the financial statements any identified material uncertainties that may cast
significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a
period of at least twelve months from the date when the financial statements are authorised for issue.

Other information
The directors are responsible for the other information. The other information comprises the information in the
Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the
Auditors thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of
assurance conclusion thereon.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. 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.

Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the
financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal
requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
J & A (INTERNATIONAL) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the
audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

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.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, 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 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.

Our 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 a Report of the Auditors 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.

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 Report of
the Auditors.




Timothy Godson FCA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Limited, Statutory Auditor
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

1 August 2018

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2017

2017 2016
Notes £    £    £    £   

TURNOVER 3 12,491,040 11,323,935

Cost of sales 5,902,410 5,289,456
GROSS PROFIT 6,588,630 6,034,479

Administrative expenses 3,994,185 3,860,858
OPERATING PROFIT 5 2,594,445 2,173,621

Income from shares in group undertakings 216,773 -
Interest receivable and similar income 2,934 23,881
219,707 23,881
PROFIT BEFORE TAXATION 2,814,152 2,197,502

Tax on profit 6 485,016 426,699
PROFIT FOR THE FINANCIAL YEAR 2,329,136 1,770,803

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2017

2017 2016
Notes £    £   

PROFIT FOR THE YEAR 2,329,136 1,770,803


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

2,329,136

1,770,803

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 2,491,865 2,519,823
Investments 9 568,303 568,303
3,060,168 3,088,126

CURRENT ASSETS
Stocks 10 921,928 943,441
Debtors 11 2,032,090 2,042,762
Cash at bank 3,405,047 3,697,231
6,359,065 6,683,434
CREDITORS
Amounts falling due within one year 12 1,316,570 1,318,831
NET CURRENT ASSETS 5,042,495 5,364,603
TOTAL ASSETS LESS CURRENT LIABILITIES 8,102,663 8,452,729

PROVISIONS FOR LIABILITIES 14 61,246 90,448
NET ASSETS 8,041,417 8,362,281

CAPITAL AND RESERVES
Called up share capital 15 90,000 90,000
Capital redemption reserve 16 10,000 10,000
Retained earnings 16 7,941,417 8,262,281
SHAREHOLDERS' FUNDS 8,041,417 8,362,281

The financial statements were approved by the Board of Directors on 27 July 2018 and were signed on its behalf by:





C J Fry - Director


J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2017

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   

Balance at 1 January 2016 90,000 6,931,478 10,000 7,031,478

Changes in equity
Dividends - (440,000 ) - (440,000 )
Total comprehensive income - 1,770,803 - 1,770,803
Balance at 31 December 2016 90,000 8,262,281 10,000 8,362,281

Changes in equity
Dividends - (2,650,000 ) - (2,650,000 )
Total comprehensive income - 2,329,136 - 2,329,136
Balance at 31 December 2017 90,000 7,941,417 10,000 8,041,417

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2017

2017 2016
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,249,693 2,717,550
Tax paid (499,856 ) (371,666 )
Net cash from operating activities 2,749,837 2,345,884

Cash flows from investing activities
Purchase of tangible fixed assets (584,769 ) (408,345 )
Sale of tangible fixed assets 40,198 37,119
Sale of fixed asset investments - 12,722
Interest received 2,934 23,881
Dividends received 216,773 -
Net cash from investing activities (324,864 ) (334,623 )

Cash flows from financing activities
Amount introduced by directors - 10,388
Amount withdrawn by directors (101,540 ) -
Amounts owed to group undertakings 34,383 147,604
Equity dividends paid (2,650,000 ) (440,000 )
Net cash from financing activities (2,717,157 ) (282,008 )

(Decrease)/increase in cash and cash equivalents (292,184 ) 1,729,253
Cash and cash equivalents at beginning of
year

2

3,697,231

1,967,978

Cash and cash equivalents at end of year 2 3,405,047 3,697,231

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2017

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2017 2016
£    £   
Profit before taxation 2,814,152 2,197,502
Depreciation charges 603,839 583,920
(Profit)/loss on disposal of fixed assets (31,310 ) 20,475
Finance income (219,707 ) (23,881 )
3,166,974 2,778,016
Decrease/(increase) in stocks 21,513 (30,922 )
Decrease/(increase) in trade and other debtors 10,672 (100,732 )
Increase in trade and other creditors 50,534 71,188
Cash generated from operations 3,249,693 2,717,550

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect
of these Statement of Financial Position amounts:

Year ended 31 December 2017
31.12.17 1.1.17
£    £   
Cash and cash equivalents 3,405,047 3,697,231
Year ended 31 December 2016
31.12.16 1.1.16
£    £   
Cash and cash equivalents 3,697,231 1,967,978

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

1. STATUTORY INFORMATION

J & A (International) Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements,
estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from
other sources. The estimates and underlying 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 and are covered within the
accounting policies:

(i) The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic
lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually.
They are amended when necessary to reflect current estimates, based on technological advancement, future
investments, economic utilisation and the physical condition of the assets. See note nine for the carrying
amount of the property plant and equipment, and accounting policy note for the usual economic lives of each
class of assets.

(ii) When calculating the stock provision, management considers the nature and condition of the stock, as well
as applying assumptions around anticipated saleability of finished goods and future usage of raw materials.
See note eleven for the net carrying amount of the stock and associated provision.

(iii) The company makes an estimate of the recoverable value of trade and other debtors. When assessing
impairment of trade and other debtors, management considers factors including the current credit rating of
the debtor, ageing profile of debtors and historical experience. See note twelve for the net carrying amount of
the debtors and associated impairment provision.

(iiii) The Company has an obligation to pay pension benefits to certain employees. The cost of these benefits
and the present value of the obligation depend on a number of factors, including; life expectancy, salary
increases, asset valuations and the discount rate on corporate bonds. Management estimates these factors in
determining the net pension obligation in the statement of financial position. The assumptions reflect
historical experience and current trends. See note eighteen for the disclosures relating to the defined benefit
pension scheme.

Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision
affects.

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

2. ACCOUNTING POLICIES - continued

Turnover
Turnover represents amounts charged to customers for goods and services provided during the year, excluding
value added tax and trade discounts. Sales are recognised upon delivery to the customer, or upon collection by
the customer.

In the opinion of the directors the United Kingdom and European markets do not differ substantially from each
other and have therefore been treated as one.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - at varying rates on cost
Plant and machinery - at varying rates on cost
Fixtures and fittings - 33% on cost, 25% on cost and 20% on cost
Motor vehicles - 25% on cost

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each
statement of financial position date. If, such indication exists, the recoverable amount of the asset, or the
asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount
exceeds its recoverable amount, an impairment loss is recognised in the income statement unless the asset is
carried at a revalued amount where the impairment loss is a revaluation decrease.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes
all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and
condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and
slow-moving stock where appropriate.

Financial instruments
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at
transaction price, unless the arrangement constitute a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective
evidence of impairment. 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 the income statement.

Basic financial liabilities, including trade and other 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 receipts discounted at a market rate of interest.

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. Accounts 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.

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Transactions expressed in foreign currencies are recorded at the rate ruling at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange
ruling at the period end reporting date.

All differences are taken to the income statement.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the
employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that
service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are
expensed as they become payable.

Provisions
Provisions are recognised when the company has an obligation at the statement of financial position date as a
result of a past event, it is probable that an outflow of economic benefits will be required in settlement and
the amount can be reliably estimated.

3. TURNOVER

In the opinion of the directors the United Kingdom and European markets do not differ substantially from each
other and have therefore been treated as one.

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

4. EMPLOYEES AND DIRECTORS
2017 2016
£    £   
Wages and salaries 3,408,724 3,168,939
Social security costs 273,883 250,544
Other pension costs 182,066 175,161
3,864,673 3,594,644

The average number of employees during the year was as follows:
2017 2016

Manufacturing 83 77
Administration 49 46
Sales and distribution 6 7
138 130

2017 2016
£    £   
Directors' remuneration 468,364 548,235
Directors' pension contributions to money purchase schemes 52,034 46,099

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 5 5

Information regarding the highest paid director is as follows:
2017 2016
£    £   
Emoluments etc 162,374 165,479
Pension contributions to money purchase schemes 15,375 5,036

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2017 2016
£    £   
Depreciation - owned assets 603,839 583,920
(Profit)/loss on disposal of fixed assets (31,310 ) 20,475
Auditors' remuneration 10,000 10,000
Research and development 71,379 63,434

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2017 2016
£    £   
Current tax:
UK corporation tax 514,218 469,856

Deferred tax (29,202 ) (43,157 )
Tax on profit 485,016 426,699

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is
explained below:

2017 2016
£    £   
Profit before tax 2,814,152 2,197,502
Profit multiplied by the standard rate of corporation tax in the UK of
19.247% (2016 - 20%)

541,640

439,500

Effects of:
Expenses not deductible for tax purposes - 6,811
Income not taxable for tax purposes (41,721 ) -
Depreciation in excess of capital allowances 35,855 -
Research and development enhancement (17,859 ) (16,699 )
Timing adjustment for pension contributions (3,697 ) (2,913 )
Movement in deferred tax (29,202 ) -
Total tax charge 485,016 426,699

7. DIVIDENDS
2017 2016
£    £   
A Ordinary shares of 50p each
Interim 1,325,000 220,000
B Ordinary shares of 50p each
Interim 1,325,000 220,000
2,650,000 440,000

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

8. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2017 1,390,147 2,883,396 1,374,996 302,236 5,950,775
Additions 156,616 265,153 79,786 83,214 584,769
Disposals - (10,605 ) (22,239 ) (99,969 ) (132,813 )
At 31 December 2017 1,546,763 3,137,944 1,432,543 285,481 6,402,731
DEPRECIATION
At 1 January 2017 235,735 1,865,448 1,141,413 188,356 3,430,952
Charge for year 25,739 343,105 154,674 80,321 603,839
Eliminated on disposal - (8,854 ) (21,791 ) (93,280 ) (123,925 )
At 31 December 2017 261,474 2,199,699 1,274,296 175,397 3,910,866
NET BOOK VALUE
At 31 December 2017 1,285,289 938,245 158,247 110,084 2,491,865
At 31 December 2016 1,154,412 1,017,948 233,583 113,880 2,519,823

Included in cost of land and buildings is freehold land of £ 353,457 (2016 - £ 353,457 ) which is not
depreciated.

9. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2017
and 31 December 2017 568,303
NET BOOK VALUE
At 31 December 2017 568,303
At 31 December 2016 568,303

The company's investments at the Statement of Financial Position date in the share capital of companies
include the following:

J&A Europe Limited
Registered office:
Nature of business: Dormant Company
%
Class of shares: holding
Ordinary 100.00
2017 2016
£    £   
Aggregate capital and reserves 30,111 30,111

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

9. FIXED ASSET INVESTMENTS - continued

J&A (International) SARL T/A Imatel
Registered office:
Nature of business: Wholesale of garment decoration in Europe
%
Class of shares: holding
Ordinary 100.00
2017 2016
£    £   
Aggregate capital and reserves 433,133 610,872
Profit/(loss) for the year 21,297 (52,074 )

10. STOCKS
2017 2016
£    £   
Raw materials 521,867 551,492
Finished goods 400,061 391,949
921,928 943,441

Stock recognised as an expense in the period were £21,513 (2016: (£30,922)).

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 1,891,496 1,935,502
Other debtors 4,119 4,658
Prepayments 136,475 102,602
2,032,090 2,042,762

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 599,948 510,204
Amounts owed to group undertakings 48,915 14,532
Taxation 234,796 220,434
Other taxes and social security 293,514 312,365
Other creditors 57,920 74,171
Directors' current accounts - 101,540
Accrued expenses 81,477 85,585
1,316,570 1,318,831

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

13. FINANCIAL INSTRUMENTS

The company has the following financial instruments:

20172016
Financial assets that are debt instruments measured at amortised cost

Trade debtors1,891,4961,935,502
Amounts owed by group undertakings--
Other Debtors4,1194,658
Financial liabilities measured at amortised cost
Trade creditors599,948510,204
Other creditors57,92074,171
Amounts owed to group undertakings48,91514,532

The total interest income for financial assets and financial liabilities that are not measured at fair value through
the income statement is £2,934 (2016: £23,881).

14. PROVISIONS FOR LIABILITIES
2017 2016
£    £   
Deferred tax
Accelerated capital allowances 61,246 90,448

Deferred
tax
£   
Balance at 1 January 2017 90,448
Credit to Income Statement during year (29,202 )
Capital allowances
Balance at 31 December 2017 61,246

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £    £   
90,000 A Ordinary 50p 45,000 45,000
90,000 B Ordinary 50p 45,000 45,000
90,000 90,000

J & A (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 01567572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

16. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2017 8,262,281 10,000 8,272,281
Profit for the year 2,329,136 2,329,136
Dividends (2,650,000 ) (2,650,000 )
At 31 December 2017 7,941,417 10,000 7,951,417

17. PENSION COMMITMENTS

The company pays into a defined contribution scheme for eligible employees. The assets are held separately
from those of the company in an independently administered fund. The pension cost charge represents
contributions paid by the company to the fund and amounts to £52,034 (2016: £46,099).

18. CAPITAL COMMITMENTS
2017 2016
£    £   
Contracted but not provided for in the
financial statements 903,184 -

19. RELATED PARTY DISCLOSURES

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.

Key management personnel of the entity or its parent (in the aggregate)
2017 2016
£    £   
Amount due to related party - 101,540

Other related parties
2017 2016
£    £   
Sales 377,821 289,451
Purchases 4,236 -
Amount due from related party 168,179 68,818

During the year, a total of key management personnel compensation of £ 468,364 (2016 - £ 548,235 ) was
paid.

The ultimate controlling party is J&A (International) HoldingsLimited.