Registered number
01055142
J K Holdings Limited
Filleted Accounts
31 December 2023
J K Holdings Limited
Registered number: 01055142
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 40 50
Investments 4 4,846,617 4,601,798
4,846,657 4,601,848
Current assets
Debtors 5 101,033 157,932
Investments held as current assets - at cost 6 3,450 3,450
Cash at bank and in hand 376 1,219
104,859 162,601
Creditors: amounts falling due within one year 7 (267,531) (266,208)
Net current liabilities (162,672) (103,607)
Total assets less current liabilities 4,683,985 4,498,241
Creditors: amounts falling due after more than one year 8 (2,119,443) (2,251,004)
Provisions for liabilities - deferred tax (806,972) (805,349)
Net assets 1,757,570 1,441,888
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,757,470 1,441,788
Shareholders' funds 1,757,570 1,441,888
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J W Kiernan S J Loveday
Director Director
Approved by the board on 30 August 2024
J K Holdings Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from management services provided to it's subsidiary companies and rent receivable from property let to the companies.
Investment in subsidiaries
Investment in subsidiaries are accounted for at cost less impairment in the financial statements.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and equipment 25% reducing balance basis
Freehold investment properties
Investment Properties are revalued annually and any surplus or deficit dealt with through profit and loss. No depreciation is provided in respect of Investment Properties.
Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
£ £
Cost
At 1 January 2023 4,520
At 31 December 2023 4,520
Depreciation
At 1 January 2023 4,470
Charge for the year 10
At 31 December 2023 4,480
Net book value
At 31 December 2023 40
At 31 December 2022 50
4 Fixed Asset Investments
Freehold Investment property Investments in subsidiary undertakings Total
£ £ £
At Fair Value
At 1 January 2023 4,417,528 834,270 5,251,798
Additions - 244,819 244,819
Revaluation - - -
Disposals - - -
Irrecoverable Loans - written off - Essex Restaurants Ltd - - -
At 31 December 2023 4,417,528 1,079,089 5,496,617
Provisions
At 1 January 2023 - (650,000) (650,000)
Impairment Loss for the year - - -
At 31 December 2023 - (650,000) (650,000)
Net book value
At 31 December 2023 4,417,528 429,089 4,846,617
At 31 December 2022 4,417,528 184,270 4,601,798
The Freehold Investment Property in Heybridge (Hotel and Restaurant) was professionally valued in October 2021 by Christie & Co, Chartered Surveyors. The Company sold a 38% share in the Hotel in February 2022 at market value.
A second Freehold Property (Garden Centre) was also professional valued in August 2021 by Christie & Co, Chartered Surveyors.

Based on the above mentioned valuations, the Directors are of the opinion that the Fair Value of both Investment Properties was £4,417,528 as at 31 December 2023. The original cost of both Investment Properties at 31 December 2023 was £936,442 (2022: £936,442).
Investments in Investments in
subsidiary subsidiary
undertakings undertakings
£ £
Shares in group undertakings 390
Loans to group undertakings 428,699
At 31 December 2023 429,089
Subsidiaries Shares held Proportion Loans after
Class Number held Impairment & write offs
The Maldon Garden Centre Ltd Ordinary 170 85% -
Essex Restaurants Ltd Ordinary 100 100% -
Le Bouchon Hotel Ltd Ordinary 120 80% 428,699
390 428,699
All of the subsidiaries were incorporated in the UK.
Nature of business
The Maldon Garden Centre Ltd Garden Centre and Nursery
Essex Restaurants Ltd Restaurant (ceased trade in December 2021)
Le Bouchon Hotel Ltd Restaurant and Hotel
5 Debtors 2023 2022
£ £
Subsidary - The Maldon Garden Centre Ltd 34,996 149,545
Subsidary - Loan to Essex Restaurants Ltd 32,850 -
Amounts owed by Benbridge Management Ltd (note 11) 8,387 8,387
Other debtors 24,800 -
101,033 157,932
6 Investments - Current
The Listed Shares held at a Cost of £3,450 had a market value in June 2024 of £4,725.
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank overdraft and loans (Secured) 134,790 128,694
Trade creditors 2,220 344
Other taxes and social security costs 63,859 59,820
Directors' loan accounts 6,654 5,647
Loan from Jonathan Kiernan (connected) 45,000 45,000
Other creditors 15,008 26,703
267,531 266,208
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans (Secured) 2,119,443 2,251,004
The Company agreed a Bank Loan with Nat West Bank in November 2021. The Bank Loan was in the sum of £2,500,000, secured on the Company assets. The initial loan repayments were £19,126.83 per month over a period of 180 months at an intial fixed rate of 4.53%.
9 Pension commitments
The Company makes contributions to the Director's personal pension plans, the assets of which are held seperately from those of the Company. The pension cost charge to the profit and loss account of £600 (2022: £600) represents payments to those plans.
10 Group accounts
The accounts present information about the parent company, J K Holdings Ltd, as an individual undertaking and not about its group.

Group accounts have not been prepared as the parent and its subsidiaries are exempt from the requirement as they form a Small Group.
11 Related party transactions and subsidiaries
J W Kiernan owns 65% of the ordinary share capital of this company and is connected with the following companies:-
Le Bouchon Hotel Ltd (subsidiary)
J K Holdings Ltd owns 80% of the controlling ordinary share capital of Le Bouchon Hotel Ltd. Loans due from Subsidiary at 31/12/23 were £1,078,699 before an Impairment adjustment of £650,000. The Subsidiary accounts showed significant Net Liabilities at 31/12/2023, but it continues to be supported by the Holding Company,
The Maldon Garden Centre Ltd (subsidiary)
J K Holdings Ltd owns 85% of the Ordinary share capital of The Maldon Garden Centre Ltd.
Management charges of £300,000 (2022: £180,000) and rent £60,000 (2022: £60,000) were receivable from the Subsidiary. A dividend was also receivable from The Maldon Garden Centre Ltd of £170,000 for 2023 - (2022: £153,000). At 31/12/2023 the Subsidary owed to J K Holdings Ltd £34,996.
Essex Restaurants Ltd (subsidiary)
J K Holdings Ltd owns 100% of the controlling ordinary share capital of Essex Restaurants Ltd.
J K Holdings Ltd made further loans to Essex Restaurants Ltd during the year of £32,850 to assist with the settlement of various operating liabilities incurred by the previous business, which has now ceased.This debt was repaid in 2024.
Benbridge Management Ltd
J W Kiernan owns 100% of the ordinary share capital of Benbridge Management Ltd.
At 31/12/2023 Benbridge Management Ltd owed to J K Holdings Ltd £8,387 (2022: £8,387)
12 Controlling party
For the whole of the year the Company was under the control of J W Kiernan, a Director of the Company. He holds 65% of the issued share capital. Mrs S Kiernan owns the remaining 35% of the Share Capital.
13 Registration of Charge
Natwest bank has secured its loan by Registered Fixed and Floating Charges over the company assets.
14 Operating lease commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:-
2023 2022
£ £
Operating leases which expire:-
Within 1 year 14,778 14,543
2 - 5 years 27,670 23,169
42,448 37,712
15 Other information
J K Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
Victoria House
88 The Causeway
Maldon
Essex
CM9 4LL
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