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REGISTERED NUMBER: 08566286 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

JKC RETAIL LTD.

JKC RETAIL LTD. (REGISTERED NUMBER: 08566286)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JKC RETAIL LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: S Jablon





REGISTERED OFFICE: 1 Rosoman Place
London
EC1R 0JY





REGISTERED NUMBER: 08566286 (England and Wales)





AUDITORS: Numera Partners LLP
Statutory Auditors
4th Floor
Charles House
108-110 Finchley Road
London
NW3 5JJ

JKC RETAIL LTD. (REGISTERED NUMBER: 08566286)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 131,304 108,615
131,304 108,615

CURRENT ASSETS
Debtors 6 930,570 641,392
Cash at bank and in hand 71,821 383,549
1,002,391 1,024,941
CREDITORS
Amounts falling due within one year 7 2,190,284 2,064,668
NET CURRENT LIABILITIES (1,187,893 ) (1,039,727 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,056,589

)

(931,112

)

PROVISIONS FOR LIABILITIES 9 11,666 11,666
NET LIABILITIES (1,068,255 ) (942,778 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (1,068,256 ) (942,779 )
(1,068,255 ) (942,778 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 May 2025 and were signed by:





S Jablon - Director


JKC RETAIL LTD. (REGISTERED NUMBER: 08566286)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

JKC Retail Ltd. 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 (£), rounded to the nearest Pound.

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" including the provisions of Section 1A "Small Entities" 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, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilites that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the term of the lease
Office equipment - 33% on cost and 25% on cost
Fixtures and fittings - 25% on cost

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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

JKC RETAIL LTD. (REGISTERED NUMBER: 08566286)

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

2. ACCOUNTING POLICIES - continued

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

Financial instruments
The company has elected to apply the provisions of section 11 'basic financial instruments' and section 12 'other financial instruments issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to contractual provisions of the instruments.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial instruments, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Going concern
The financial statements have been prepared on a going concern basis. The company made a loss before tax of £125,477 (2023: profit before tax of £29,155) and had net current liabilities of £1,187,893 (2023: £1,039,727) and net liabilities of £1,068,255 (2023: £942,778) at 31 August 2024.

The director considers that the going concern basis is appropriate as the parent company and fellow subsidiaries have confirmed their willingness and ability to support the company for at least 12 months from the approval date of the financial statements.

The director has considered the annual budget, future cash flow forecasts and other relevant information in forming their assessment of the going concern policy.

Based on this assessment and having regard to the resources available to the entity, the director has concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

JKC RETAIL LTD. (REGISTERED NUMBER: 08566286)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2023
and 31 August 2024 14,500
AMORTISATION
At 1 September 2023
and 31 August 2024 14,500
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Office and
leasehold equipment fittings Totals
£    £    £    £   
COST
At 1 September 2023 182,605 27,200 402,425 612,230
Additions 16,401 538 31,131 48,070
Disposals (40,620 ) (8,158 ) (15,088 ) (63,866 )
At 31 August 2024 158,386 19,580 418,468 596,434
DEPRECIATION
At 1 September 2023 115,521 24,103 363,991 503,615
Charge for year 14,363 864 10,152 25,379
Eliminated on disposal (40,620 ) (8,157 ) (15,087 ) (63,864 )
At 31 August 2024 89,264 16,810 359,056 465,130
NET BOOK VALUE
At 31 August 2024 69,122 2,770 59,412 131,304
At 31 August 2023 67,084 3,097 38,434 108,615

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 61,650 58,842
Amounts owed by group undertakings 750,213 530,489
Other debtors 118,707 52,061
930,570 641,392

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 48,875 25,326
Amounts owed to group undertakings 1,954,637 1,958,394
Taxation and social security 69,318 55,539
Other creditors 117,454 25,409
2,190,284 2,064,668

JKC RETAIL LTD. (REGISTERED NUMBER: 08566286)

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

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.24 31.8.23
£    £   
Within one year 223,460 417,904
Between one and five years 886,133 884,593
In more than five years 337,500 562,500
1,447,093 1,864,997

9. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 11,666 11,666

Deferred
tax
£   
Balance at 1 September 2023 11,666
Balance at 31 August 2024 11,666

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Giles Cohen (Senior Statutory Auditor)
for and on behalf of Numera Partners LLP

11. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption contained in FRS 102, Section 1AC.35, and has not disclosed transactions with group companies on the grounds that consolidated financial statements are prepared by the parent company, SPL J Holdings Limited and these are publicly available.

12. PARENT COMPANY

SPL J Holdings Limited is the smallest group undertaking to prepare consolidated financial statements that include JKC Retail Ltd.. The registered office of this company is 1 Rosoman Place, London, England, EC1R 0JY.

The group financial statements ae available to the public and may be obtained from the registered office or Companies House.