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REGISTERED NUMBER: 00518001 (England and Wales)















JENKINSONS HOLDINGS (STAFFORD) LIMITED

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Profit and Loss Account 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


JENKINSONS HOLDINGS (STAFFORD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P D Goldsbrough
N F Chaplin





SECRETARY: P D Goldsbrough





REGISTERED OFFICE: St Albans Road
Astonfields
Stafford
Staffordshire
ST16 3DR





REGISTERED NUMBER: 00518001 (England and Wales)

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their strategic report of the company and the group for the year ended 31 March 2024.

REVIEW OF BUSINESS
The company continues to provide catering and bar services to wedding and corporate venue hire businesses.

Development, performance and financial position:
We aim to present a balanced and comprehensive review of the development and performance of our business during the period and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face. The company has been trading for 71 years as a successful event and venue caterer.

The company has a strong workforce both operationally and administratively and ensures the catering equipment and IT infrastructure utilised provides a superb catering and bar experience for its customers.

The company reported a profit of £627,714 (2023 £514,589) The result is consistent with that in the previous year following the recovery from the restrictions imposed on the hospitality industry from March 2020 to 2021 because of the declaration of the Covid-19 pandemic by the World Health Organisation.

The balance sheet as of the 31st March 2024 shows continued strength with net assets of £2,270,570.

Future Developments
The company's bookings are now at a consistent level following the recovery from Covid-19. There is no indication that the level of bookings will decrease in future years. As the company's major clients invest in new venues the company will also continue to invest in catering and bar equipment in these venues with the intention of increasing the number of events catered for each year. This policy of controlled growth gives a positive outlook for the company.

PRINCIPAL RISKS AND UNCERTAINTIES
The hospitality sector in which the company operates continues to be a growing sector with new venues presenting both growth opportunities and competition challenges. The company constantly reviews and evolves its services to ensure the best possible service to its customers.

The company operates on solid cash reserves with minimal borrowing requirements.

The main risks associated with the company's financial assets and liabilities are:

Liquidity, Credit and Cashflow Risk

The company manages its cash reserves to ensure that there is surplus cash over and above amounts received from customers in advance of their wedding date at a level to maintain the required working capital of its day to day operations plus returns to shareholders and other investment requirements as determined by the directors. The company has minimal liquidity, credit and cashflow risk.

Food Safety and Workplace Safety

The company has a potential risk of providing food that may cause allergic reaction or illness to its customers and asks employees to work in environments that may potentially cause injury. To mitigate these risks the company

- invests heavily in a hospitality management solution system on an ongoing basis
- ensures that it complies with all relevant Food Safety regulations
- develops, reviews and updates food safety policies and manuals regularly
- inducts and trains team members in procedures
- employs an external consultant to test, monitor and report on its food preparation, food storage and food transport policies to ensure compliance with relevant regulations

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

- employs an external consultant to write deliver and train on, risk assessments and safe working practices for team members
- maintains an appropriate level of public and employers' liability insurance cover

KEY PERFORMANCE INDICATORS
2024 2023
Turnover £12,914,333 £11,853,095
Gross Profit margin 26.03% 23.54%
Current Ratio 1.20 1.20
Quick Ratio 1.17 1.17
Net Assets £2,270,570 £1,967,856


The company reviews its anticipated and actual turnover by closely monitoring the number of events, number of guests attending an event and net spend per cover. This measure helps to determine resource requirements of the business on an ongoing basis.

The current and quick ratios identify the working capital requirements of the business essential to maintain working capital. The company maintains a healthy working capital position.

The net asset position is monitored to ensure the stability of the company is in a healthy position and the directors are committed to maintaining a stable balance sheet.

ON BEHALF OF THE BOARD:





N F Chaplin - Director


13 August 2024

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 March 2024.

DIVIDENDS
The Directors recommend an interim dividend of £325,000 be paid.

DIRECTORS
The director shown below has held office during the whole of the period from 1 April 2023 to the date of this report.

P D Goldsbrough
N F Chaplin

ENGAGEMENT WITH EMPLOYEES
The company actively encourages all employees to take part in the running, development and growth of the business. The company structure ensures that communication channels are set for management to obtain and utilise feedback for decision-making.

The company recognises exceptional performance and behaviour as nominated by fellow team members or customers on a regular basis.

The company invites employees to an online six-monthly update whereby it communicates the financial and operational performance of the business together with any past, present and future developments. The company actively encourages feedback from employees from these meetings.

The company welcomes its social and statutory obligations to employ disabled persons and adopts a policy of providing the same employment opportunities to disabled persons as others wherever possible. The company also adopts the same policy for employees who have become disabled by providing relevant training, career development and promotion opportunities during their employment with the company.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the group 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;
- 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


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 group'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 group's auditors are aware of that information.

AUDITORS
The auditors, Deans, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





N F Chaplin - Director


13 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JENKINSONS HOLDINGS (STAFFORD) LIMITED


Opinion
We have audited the financial statements of Jenkinsons Holdings (Stafford) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Profit and Loss Account, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2024 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.

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 group 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
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group 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, except to the extent otherwise explicitly stated in our report, 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 we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JENKINSONS HOLDINGS (STAFFORD) LIMITED


Opinions 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 four, 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 group's and the 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 the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
-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 identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company's operating sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JENKINSONS HOLDINGS (STAFFORD) LIMITED


We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risk of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual balances, variances or unexpected relationships;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;
- investigated the rationale behind significant or unusual transactions; and
- specifically tested the controls around banking payments.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation claims;
- reviewing correspondence with HMRC and other relevant regulators.

There are inherent limitations in our audit procedures described above. The more removed that 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 enquiry of the directors 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 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.

Use of our report
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.




Jeremy G Hodgkiss (Senior Statutory Auditor)
for and on behalf of Deans
Chartered accountants
Statutory auditor
Gibson House
Hurricane Court
Hurricane Close
Stafford
ST16 1GZ

13 August 2024

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 3 12,914,333 11,853,095

Cost of sales (9,553,256 ) (9,063,466 )
GROSS PROFIT 3,361,077 2,789,629

Administrative expenses (2,662,028 ) (2,198,273 )
699,049 591,356

Other operating income 4 63,445 91,970
OPERATING PROFIT 6 762,494 683,326

Interest receivable and similar income 49,457 8,372
811,951 691,698

Interest payable and similar expenses 7 (9,247 ) (8,361 )
PROFIT BEFORE TAXATION 802,704 683,337

Tax on profit 8 (174,990 ) (168,748 )
PROFIT FOR THE FINANCIAL YEAR 627,714 514,589
Profit attributable to:
Owners of the parent 627,714 514,589

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 627,714 514,589


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

627,714

514,589

Total comprehensive income attributable to:
Owners of the parent 627,714 514,589

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

CONSOLIDATED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 11 122,688 37,552
Tangible assets 12 928,149 724,357
Investments 13 - -
Investment property 14 665,000 665,000
1,715,837 1,426,909

CURRENT ASSETS
Stocks 15 129,068 115,993
Debtors 16 798,722 1,191,859
Cash at bank and in hand 4,378,803 3,486,629
5,306,593 4,794,481
CREDITORS
Amounts falling due within one year 17 (4,430,975 ) (3,999,575 )
NET CURRENT ASSETS 875,618 794,906
TOTAL ASSETS LESS CURRENT LIABILITIES 2,591,455 2,221,815

CREDITORS
Amounts falling due after more than one
year

18

(7,423

)

(26,703

)

PROVISIONS FOR LIABILITIES 21 (313,462 ) (227,256 )
NET ASSETS 2,270,570 1,967,856

CAPITAL AND RESERVES
Called up share capital 22 72,250 72,250
Revaluation reserve 23 487,980 492,623
Retained earnings 23 1,710,340 1,402,983
SHAREHOLDERS' FUNDS 2,270,570 1,967,856

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





N F Chaplin - Director


JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

COMPANY BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 11 90,913 -
Tangible assets 12 847,908 611,505
Investments 13 2 2
Investment property 14 665,000 665,000
1,603,823 1,276,507

CURRENT ASSETS
Debtors 16 66,412 2,826
Cash at bank 130,029 127,797
196,441 130,623
CREDITORS
Amounts falling due within one year 17 (40,256 ) (163,255 )
NET CURRENT ASSETS/(LIABILITIES) 156,185 (32,632 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,760,008 1,243,875

PROVISIONS FOR LIABILITIES 21 (294,338 ) (200,186 )
NET ASSETS 1,465,670 1,043,689

CAPITAL AND RESERVES
Called up share capital 22 72,250 72,250
Revaluation reserve 23 487,980 492,623
Retained earnings 23 905,440 478,816
SHAREHOLDERS' FUNDS 1,465,670 1,043,689

Company's profit for the financial year 746,981 209,758

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





N F Chaplin - Director


JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2022 72,250 1,156,273 509,744 1,738,267

Changes in equity
Profit for the year - 514,589 - 514,589
Other comprehensive income - 17,121 (17,121 ) -
Total comprehensive income - 531,710 (17,121 ) 514,589
Dividends - (285,000 ) - (285,000 )
Balance at 31 March 2023 72,250 1,402,983 492,623 1,967,856

Changes in equity
Profit for the year - 627,714 - 627,714
Other comprehensive income - 4,643 (4,643 ) -
Total comprehensive income - 632,357 (4,643 ) 627,714
Dividends - (325,000 ) - (325,000 )
Balance at 31 March 2024 72,250 1,710,340 487,980 2,270,570

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2022 72,250 536,937 509,744 1,118,931

Changes in equity
Profit for the year - 209,758 - 209,758
Other comprehensive income - 17,121 (17,121 ) -
Total comprehensive income - 226,879 (17,121 ) 209,758
Dividends - (285,000 ) - (285,000 )
Balance at 31 March 2023 72,250 478,816 492,623 1,043,689

Changes in equity
Profit for the year - 746,981 - 746,981
Other comprehensive income - 4,643 (4,643 ) -
Total comprehensive income - 751,624 (4,643 ) 746,981
Dividends - (325,000 ) - (325,000 )
Balance at 31 March 2024 72,250 905,440 487,980 1,465,670

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,932,376 745,714
Interest paid (6,801 ) (6,227 )
Interest element of hire purchase payments
paid

(2,446

)

(2,134

)
Tax paid (143,783 ) 175,462
Net cash from operating activities 1,779,346 912,815

Cash flows from investing activities
Purchase of intangible fixed assets (66,402 ) -
Purchase of tangible fixed assets (492,858 ) (110,739 )
Sale of tangible fixed assets - 1,667
Interest received 49,457 8,372
Net cash from investing activities (509,803 ) (100,700 )

Cash flows from financing activities
Capital repayments in year (55,969 ) (4,047 )
Amount introduced by directors 3,600 18,038
Amount withdrawn by directors - (14,438 )
Equity dividends paid (325,000 ) (285,000 )
Net cash from financing activities (377,369 ) (285,447 )

Increase in cash and cash equivalents 892,174 526,668
Cash and cash equivalents at beginning of
year

2

3,486,629

2,959,961

Cash and cash equivalents at end of year 2 4,378,803 3,486,629

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Profit before taxation 802,704 683,337
Depreciation charges 270,332 224,155
Profit on disposal of fixed assets - (1,667 )
Finance costs 9,247 8,361
Finance income (49,457 ) (8,372 )
1,032,826 905,814
Increase in stocks (13,075 ) (25,910 )
Decrease/(increase) in trade and other debtors 389,537 (568,281 )
Increase in trade and other creditors 523,088 434,091
Cash generated from operations 1,932,376 745,714

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 4,378,803 3,486,629
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 3,486,629 2,959,961


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 3,486,629 892,174 4,378,803
3,486,629 892,174 4,378,803
Debt
Finance leases (82,682 ) 55,969 (26,713 )
(82,682 ) 55,969 (26,713 )
Total 3,403,947 948,143 4,352,090

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Jenkinsons Holdings (Stafford) 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 General Information page.

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.

The financial statements are presented in sterling which is the functional currency of the company and
rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade
discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from catering is recognised by
reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to function date.

Rental income
Renta income from operating leases (net of any incentives given to the lease's) is recognised on a straight-line basis over the lease term.

Interest receivable
Interest income is recognised using the effective interest method and dividend income is recognised as the
company's right to receive payment is established.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise costs are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - over the period of the lease
Plant and machinery - at varying rates on cost
Fixtures and fittings - at varying rates on cost
Motor vehicles - 25% on cost, 10% - 25% reducing balance and 25% straight line or reducing balance

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
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.

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.

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

All income originates from the UK.

4. OTHER OPERATING INCOME
2024 2023
£    £   
Rents received 62,954 65,045
Government grants 491 26,925
63,445 91,970

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 4,943,236 4,518,003
Social security costs 345,559 334,549
Other pension costs 93,302 81,770
5,382,097 4,934,322

The average number of employees during the year was as follows:
2024 2023

Directors 3 4
Administration 27 24
Direct 233 231
263 259

2024 2023
£    £   
Directors' remuneration 198,409 239,007
Directors' pension contributions to money purchase schemes 21,000 27,576

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. OPERATING PROFIT

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

2024 2023
£    £   
Hire of plant and machinery 7,397 14,068
Other operating leases 23,683 20,765
Depreciation - owned assets 231,315 190,289
Depreciation - assets on hire purchase contracts 32,611 28,090
Profit on disposal of fixed assets - (1,667 )
Franchise costs amortisation 5,777 5,777
Computer software amortisation 629 -
Auditors' remuneration 35,438 -

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 6,801 6,227
Hire purchase 2,446 2,134
9,247 8,361

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 75,811 143,783
Adjustment for prior years 12,973 182
Total current tax 88,784 143,965

Deferred tax:
Origination and reversal of timing differences 86,206 24,783
Tax on profit 174,990 168,748

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. TAXATION - continued

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:

2024 2023
£    £   
Profit before tax 802,704 683,337
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

200,676

129,834

Effects of:
Capital allowances in excess of depreciation (72,083 ) -
Depreciation in excess of capital allowances - 13,950
Utilisation of tax losses (35,712 ) -
Adjustments to tax charge in respect of previous periods 12,973 181
Movement in pension creditor (17,070 ) -
Deferred tax 86,206 24,783
Total tax charge 174,990 168,748

9. INDIVIDUAL PROFIT AND LOSS ACCOUNT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 325,000 285,000

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. INTANGIBLE FIXED ASSETS

Group
Franchise Computer
costs software Totals
£    £    £   
COST
At 1 April 2023 57,772 - 57,772
Additions - 66,402 66,402
Reclassification/transfer - 25,140 25,140
At 31 March 2024 57,772 91,542 149,314
AMORTISATION
At 1 April 2023 20,220 - 20,220
Amortisation for year 5,777 629 6,406
At 31 March 2024 25,997 629 26,626
NET BOOK VALUE
At 31 March 2024 31,775 90,913 122,688
At 31 March 2023 37,552 - 37,552

Company
Computer
software
£   
COST
Additions 66,402
Reclassification/transfer 25,140
At 31 March 2024 91,542
AMORTISATION
Amortisation for year 629
At 31 March 2024 629
NET BOOK VALUE
At 31 March 2024 90,913

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. TANGIBLE FIXED ASSETS

Group
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 106,244 113,898 1,257,694 188,526 1,666,362
Additions - - 478,358 14,500 492,858
Reclassification/transfer - - (25,140 ) - (25,140 )
At 31 March 2024 106,244 113,898 1,710,912 203,026 2,134,080
DEPRECIATION
At 1 April 2023 47,719 60,524 758,088 75,674 942,005
Charge for year 1,201 7,585 218,904 36,236 263,926
At 31 March 2024 48,920 68,109 976,992 111,910 1,205,931
NET BOOK VALUE
At 31 March 2024 57,324 45,789 733,920 91,116 928,149
At 31 March 2023 58,525 53,374 499,606 112,852 724,357

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 163,054
DEPRECIATION
At 1 April 2023 50,202
Charge for year 32,611
At 31 March 2024 82,813
NET BOOK VALUE
At 31 March 2024 80,241
At 31 March 2023 112,852

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 106,244 113,898 1,257,694 25,472 1,503,308
Additions - - 478,358 14,500 492,858
Reclassification/transfer - - (25,140 ) - (25,140 )
At 31 March 2024 106,244 113,898 1,710,912 39,972 1,971,026
DEPRECIATION
At 1 April 2023 47,719 60,524 758,088 25,472 891,803
Charge for year 1,201 7,585 218,904 3,625 231,315
At 31 March 2024 48,920 68,109 976,992 29,097 1,123,118
NET BOOK VALUE
At 31 March 2024 57,324 45,789 733,920 10,875 847,908
At 31 March 2023 58,525 53,374 499,606 - 611,505

13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 2
NET BOOK VALUE
At 31 March 2024 2
At 31 March 2023 2

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


13. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Jenkinsons Caterers (Stafford) Limited
Registered office: Jenkinsons Caterers,St Albans Road, Astonfields, Stafford, Staffordshire, ST16 3DR
Nature of business: Caterers
%
Class of shares: holding
Ordinary 100.00


14. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 665,000
NET BOOK VALUE
At 31 March 2024 665,000
At 31 March 2023 665,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 1983 775,000
Valuation in 2004 455,000
Valuation in 2021 (565,000 )
665,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 86,337 86,337

The investment properties were valued on an open market basis on 21 October 2022 by Rory Mack Associates .

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


14. INVESTMENT PROPERTY - continued

Company
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 665,000
NET BOOK VALUE
At 31 March 2024 665,000
At 31 March 2023 665,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 1983 775,000
Valuation in 2004 455,000
Valuation in 2021 (565,000 )
665,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 86,337 86,337

The investment properties were valued on an open market value basis on 21 October 2020 by Rory Mack Associates .

15. STOCKS

Group
2024 2023
£    £   
Stocks 129,068 115,993

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 623,801 878,253 3,750 -
Amounts owed by group undertakings - - 33,832 -
Other debtors 107 106,707 - -
Directors' loan accounts 10,838 14,438 - -
Tax 6,447 6,447 - -
VAT - - 247 57
Prepayments and accrued income 128,946 186,014 - -
Prepayments 28,583 - 28,583 2,769
798,722 1,191,859 66,412 2,826

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts (see note 19) 19,290 55,979 - -
Trade creditors 476,261 404,242 - -
Amounts owed to group undertakings - - - 123,974
Tax 88,784 143,783 - 32,768
Social security and other taxes 87,776 82,850 - -
VAT 461,573 386,240 - -
Accruals and deferred income 3,297,291 2,926,481 40,256 6,513
4,430,975 3,999,575 40,256 163,255

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
2024 2023
£    £   
Hire purchase contracts (see note 19) 7,423 26,703

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 19,290 55,979
Between one and five years 7,423 26,703
26,713 82,682

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 17,720 19,880
Between one and five years 68,000 68,720
In more than five years 4,250 21,250
89,970 109,850

20. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Hire purchase contracts 26,713 82,682

Hire purchase liabilities are secured against the assets they relate to.

21. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax
Accelerated capital allowances 313,462 227,256 294,338 200,186

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


21. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 April 2023 227,256
Utilised during year 86,206
Balance at 31 March 2024 313,462

Company
Deferred
tax
£   
Balance at 1 April 2023 200,186
Charge to Income Statement during year 94,152
Balance at 31 March 2024 294,338

22. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
32,250 Ordinary £1 32,250 32,250
40,000 A Ordinary £1 40,000 40,000
72,250 72,250

Rights of Ordinary shares
- Right to receive notice of, attend, or vote at any general meeting.
- To receive dividends as recommended by the directors.
- To participate in any surplus on winding up of the company.

Rights of A Ordinary shares
- No right to receive notice of, attend, or vote at any general meeting.
- To receive dividends as recommended by the directors.
- To participate in any surplus on winding up of the company, ranking pari-passu with ordinary shares.

JENKINSONS HOLDINGS (STAFFORD) LIMITED (REGISTERED NUMBER: 00518001)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


23. RESERVES

Group
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 1,402,983 492,623 1,895,606
Profit for the year 627,714 627,714
Dividends (325,000 ) (325,000 )
Deferred tax provision - (4,643 ) (4,643 )
Trf to revaluation reserve 4,643 - 4,643
At 31 March 2024 1,710,340 487,980 2,198,320

Company
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 478,816 492,623 971,439
Profit for the year 746,981 746,981
Dividends (325,000 ) (325,000 )
Deferred tax provision - (4,643 ) (4,643 )
Trf to revaluation reserve 4,643 - 4,643
At 31 March 2024 905,440 487,980 1,393,420


24. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
N F Chaplin
Balance outstanding at start of year 14,438 18,038
Amounts repaid (3,600 ) (3,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,838 14,438

The director's loan has been provided interest free and is repayable on demand.