1.
General Information
Jenkinsons Holdings (Stafford) Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
00518001
. The registered office is St Albans Road, Astonfields, Stafford, Staffordshire, ST16 3DR.
2.
Accounting Policies
2.1.
Basis of Preparation of 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.
2.2.
Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 March 2025.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
2.3.
Business Combinations
Business combinations are accounted for by applying the purchase method.
The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.
Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.
On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.
2.4.
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
Rental 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.
Jenkinsons Holdings (Stafford) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
2.5.
Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at costless 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.
2.6.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
| Leasehold |
|
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
2.7.
Investment Properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
2.8.
Leasing and Hire Purchase Contracts
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.
2.9.
Stocks and Work in Progress
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.
2.10.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.11.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.
Jenkinsons Holdings (Stafford) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
2.12.
Employee 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.
2.13.
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.
Other Operating Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Grant income |
|
|
|
| Rental income |
|
|
|
| 62,791 | 63,445 | ||
4.
Operating Profit
The operating profit is stated after charging:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation of tangible fixed assets |
|
|
|
| Amortisation of intangible fixed assets |
|
|
|
5.
Auditor's Remuneration
Remuneration received by the group's auditors and their associates during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
6.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Wages and salaries |
|
|
|
|
|||
| Social security costs |
|
|
|
|
|||
| Other pension costs |
|
|
|
|
|||
|
|
|
|
|
||||
Jenkinsons Holdings (Stafford) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
7.
Average Number of Employees
Group
Average number of employees, including directors, during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| Directors |
|
|
|
| Administration |
|
|
|
| Direct |
|
|
|
|
|
|
||
Company
Average number of employees, including directors, during the year was: 5 (2024: 2)
8.
Directors' remuneration
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
The number of directors to whom retirement benefits were accruing was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| Money purchase pension schemes |
|
|
|
9.
Interest Receivable and Similar Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
|
|
|
| Other interest receivable | 64 | - | |
| 74,210 | 49,457 | ||
10.
Interest Payable and Similar Charges
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Finance charges payable under finance leases and hire purchase contracts | 1,817 | 2,446 | |
| Other finance charges |
|
|
|
| 96,201 | 90,230 | ||
Jenkinsons Holdings (Stafford) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
11.
Tax on Profit
|
The tax charge on the profit for the year was as follows:
|
|||
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Current tax | |||
| UK Corporation Tax |
|
|
|
| Prior period adjustment |
|
|
|
|
|
|
||
| Deferred Tax | |||
| Origination and reversal of timing differences |
|
|
|
| Total tax charge for the period |
|
|
|
|
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
|
|||
| 2025 | 2024 | ||
| £ | £ | ||
| Profit before tax | 572,897 | 802,704 | |
| Tax on profit at 25% (UK standard rate) |
|
|
|
| Goodwill/depreciation not allowed for tax |
|
|
|
| Expenses not deductible for tax purposes |
|
|
|
| Tax losses utilised |
|
( |
|
| Capital allowances |
( |
( |
|
| Short term timing differences |
|
|
|
| Prior period adjustment |
|
|
|
| Changes in pension fund prepayment |
|
( |
|
| Total tax charge for the period | 176,973 | 174,990 | |
12.
Intangible Assets
Group
Company
| Other | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 April 2024 |
|
||
| Additions |
|
||
| As at 31 March 2025 |
|
||
| Amortisation | |||
| As at 1 April 2024 |
|
||
| Provided during the period |
|
||
| As at 31 March 2025 |
|
||
| Net Book Value | |||
| As at 31 March 2025 |
|
||
| As at 1 April 2024 |
|
||
Jenkinsons Holdings (Stafford) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
| Other | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 April 2024 |
|
||
| Additions |
|
||
| As at 31 March 2025 |
|
||
| Amortisation | |||
| As at 1 April 2024 |
|
||
| Provided during the period |
|
||
| As at 31 March 2025 |
|
||
| Net Book Value | |||
| As at 31 March 2025 |
|
||
| As at 1 April 2024 |
|
||
13.
Tangible Assets
Group
Company
| Land & Property | |||||
|---|---|---|---|---|---|
| Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 April 2024 |
|
|
|
|
|
| Additions |
|
|
|
|
|
| Disposals |
|
|
( |
( |
( |
| As at 31 March 2025 |
|
|
|
|
|
| Depreciation | |||||
| As at 1 April 2024 |
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| Disposals |
|
|
( |
( |
( |
| As at 31 March 2025 |
|
|
|
|
|
| Net Book Value | |||||
| As at 31 March 2025 |
|
|
|
|
|
| As at 1 April 2024 |
|
|
|
|
|
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Fixtures & Fittings |
|
|
|
| Motor Vehicles |
|
|
|
|
|
|
||
Jenkinsons Holdings (Stafford) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
| Land & Property | |||||
|---|---|---|---|---|---|
| Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 April 2024 |
|
|
|
|
|
| Additions |
|
|
|
|
|
| Disposals |
|
|
( |
( |
( |
| As at 31 March 2025 |
|
|
|
|
|
| Depreciation | |||||
| As at 1 April 2024 |
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| Disposals |
|
|
( |
( |
( |
| As at 31 March 2025 |
|
|
|
|
|
| Net Book Value | |||||
| As at 31 March 2025 |
|
|
|
|
|
| As at 1 April 2024 |
|
|
|
|
|
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Fixtures & Fittings |
|
|
|
14.
Investment Property
Group
Company
| 2025 | |
|---|---|
| £ | |
| Fair Value | |
| As at 1 April 2024 and 31 March 2025 |
|
| 2025 | |
|---|---|
| £ | |
| Fair Value | |
| As at 1 April 2024 and 31 March 2025 |
|
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Cost | 86,337 | 86,337 | |
Fair value at 31 March 2025 is represented by:
Jenkinsons Holdings (Stafford) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
|
£
|
||
|
Valuation in 1983
|
775,000
|
|
|
Valuation in 2004
|
455,000
|
|
|
Valuation in 2021
|
(565,000)
|
|
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
||
|
665,000
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
<line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
The investment properties were valued on an open market basis on 21 October 2022 by Rory Mack Associates.
15.
Investments
Company
| Subsidiaries | |
|---|---|
| £ | |
| Cost | |
| As at 1 April 2024 |
|
| As at 31 March 2025 |
|
| Provision | |
| As at 1 April 2024 |
|
| As at 31 March 2025 |
|
| Net Book Value | |
| As at 31 March 2025 |
|
| As at 1 April 2024 |
|
Subsidiaries
Details of the group's subsidiaries as at 31 March 2025 are as follows:
| Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
|---|---|---|---|---|
|
|
Jenkinsons Caterers, St Albans Road, Astonfields, Stafford, Staffordshire, ST16 3DR |
|
|
100.00% |
The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:
| Capital and Reserves | Profit/(loss) | |
|---|---|---|
| £ | £ | |
| Jenkinsons Caterers (Stafford) Limited |
|
|
16.
Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
|
|
|
Jenkinsons Holdings (Stafford) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
17.
Debtors
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Due within one year | |||||||
| Trade debtors |
|
|
|
|
|||
| Prepayments and accrued income |
|
|
|
|
|||
| Other debtors |
|
|
|
|
|||
| Corporation tax recoverable assets |
|
|
|
|
|||
| VAT | - | - |
|
|
|||
| Directors' loan accounts |
|
|
- | - | |||
| Amounts owed by group undertakings | - | - | - |
|
|||
|
|
|
|
|
||||
18.
Creditors: Amounts Falling Due Within One Year
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
| Trade creditors |
|
|
|
|
|||
| Corporation tax |
|
|
|
|
|||
| Other taxes and social security |
|
|
|
- | |||
| VAT |
|
|
- | - | |||
| Accruals and deferred income |
|
|
|
|
|||
| Amounts owed to group undertakings | - | - |
|
|
|||
|
|
|
|
|
||||
19.
Creditors: Amounts Falling Due After More Than One Year
| Group | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Net obligations under finance lease and hire purchase contracts |
|
|
||
20.
Obligations Under Finance Leases and Hire Purchase
| Group | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| The future minimum finance lease payments are as follows: | ||||
| Not later than one year |
|
|
||
| Later than one year and not later than five years |
|
|
||
|
|
|
|||
|
|
|
|||
Hire purchase liabilties are secured against the assets they relate to. There are no other secured creditors.
Lease included in the above liabilites have varying terms of repayment and interest rates as follows:
Lease 1 - Repayable over 36 months to September 2025. The interest rate on the lease is 4.17%.
Lease 2 - Repayable over 60 months to February 2029. The interest rate on the lease is 8.41%.
Jenkinsons Holdings (Stafford) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
21.
Deferred Taxation
The provision for deferred tax is made up as follows:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Other timing differences | 376,892 | 313,462 | 365,752 | 294,338 | |||
23.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
| Later than five years |
|
|
|
|
|
|
||
24.
Pension Commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £252,900 (2024: £93,302).
At the balance sheet date contributions of £18,534 (2024: £18,184) were due to the fund and are included in creditors.
Jenkinsons Holdings (Stafford) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
25.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at 1 April 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 March 2025 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Nigel Chaplin |
|
|
|
- |
|
The above loan is unsecured, interest free and repayable on demand.
26.
Dividends
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
|
|
|