Registered number
09516317
The Maldon Garden Centre Limited
Filleted Accounts
31 December 2024
The Maldon Garden Centre Limited
Registered number: 09516317
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 30,500
Tangible assets 4 257,695 146,125
257,695 176,625
Current assets
Stocks 772,500 704,179
Debtors 5 20,054 64,968
Cash at bank and in hand 20,932 75,192
813,486 844,339
Creditors: amounts falling due within one year 6 (539,343) (597,266)
Net current assets 274,143 247,073
Total assets less current liabilities 531,838 423,698
Creditors: amounts falling due after more than one year 7 (231,225) (115,871)
Net assets 300,613 307,827
Capital and reserves
Called up share capital 200 200
Profit and loss account 300,413 307,627
Shareholders' funds 300,613 307,827
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 22 July 2025
The Maldon Garden Centre Limited
Notes to the Accounts
for the year ended 31 December 2024
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 the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Leasehold Property 10% per annum reducing balance basis
Plant and machinery 15 - 20% per annum reducing balance basis
Motor Vehicles 20% per annum reducing balance basis
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.
2 Employees 2024 2023
Average number of persons employed by the company 21 21
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 305,000
At 31 December 2024 305,000
Amortisation
At 1 January 2024 274,500
Provided during the year 30,500
At 31 December 2024 305,000
Net book value
At 31 December 2024 -
At 31 December 2023 30,500
Goodwill is being written off in equal annual instalments over its estimated economic life of ten years.
4 Tangible fixed assets
Leasehold Property Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 74,140 187,915 12,867 274,922
Additions 122,950 18,939 8,050 149,939
Disposals - - (5,000) (5,000)
At 31 December 2024 197,090 206,854 15,917 419,861
Depreciation
At 1 January 2024 38,115 87,410 3,272 128,797
Charge for the year 15,905 16,379 2,885 35,169
On disposals - - (1,800) (1,800)
At 31 December 2024 54,020 103,789 4,357 162,166
Net book value
At 31 December 2024 143,070 103,065 11,560 257,695
At 31 December 2023 36,025 100,505 9,595 146,125
5 Debtors 2024 2023
£ £
Trade debtors 19,814 26,982
Group Companies 240 -
Other debtors - 37,986
20,054 64,968
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts (Secured) 15,000 -
Obligations under finance lease and hire purchase contracts 3,237 4,317
Trade creditors 358,354 429,544
Parent Company - J K Holdings Ltd 46,936 34,996
Group company - Le Bouchon Hotel Ltd - 5,403
Group company - Essex Restaurants Ltd - 3,797
Corporation tax 12,747 -
Other taxes and social security costs 10,554 23,190
Directors loan - Mr and Mrs S Loveday 70,357 82,504
Other creditors 22,158 13,515
539,343 597,266
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans (Secured) 231,225 112,634
Obligations under finance lease and hire purchase contracts - 3,237
231,225 115,871
8 Related party transactions
The loans from the directors are repayable under terms to be agreed.

The Company paid a rent of £60,000 (see note below) and a Management Charge of £285,000
to it Parent Company in the year - (2023: Rent £60,000 and £300,000 Management Charge).
9 Controlling party
The Company is under the control of JK Holdings Limited (the Parent Company), by virtue of it's ownership of 85% of the issued Ordinary share capital.
10 Rent of premises
As from 1 January 2016 the company has an arrangement with its Parent Company to pay rent for the garden centre premises. The company pays a rent of £60,000 + VAT per annum to JK Holdings Ltd.
11 Operating lease commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:-
2024 2023
£ £
Operating leases which expire:
Within one year 1,240 1,493
2 - 5 years 2,480 2,458
3,720 3,951
12 Bank Loan and Registration of Charge
A Fixed and Floating Charge was registered against the Company assets by Natwest Bank PLC on 21 September 2015 and further supported by a Debenture and Charge over the assets of the Holding Company.
The Company entered into a new Bank Loan facility provided by Nat West Bank in the year to assist with
the development of Claremont Nurseries. The terms were staged draw downs to a maximum facilty
of £250,000 over 15 years with interest payable at 3.25% over Base Rate.
The Bank loan repayments started in October 2024 at variable rate of £2,500 per month approx..
13 Other information
The Maldon Garden Centre 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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