Company registration number 12354756 (England and Wales)
JJ FOOD HOLDING CO LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
JJ FOOD HOLDING CO LTD
COMPANY INFORMATION
Directors
Mr. M. H. Kiamil
Mr. M. Ahmed
Mrs O. Kiamil
Company number
12354756
Registered office
7 Solar Way
Innova Park
Enfield
Middlesex
EN3 7XY
Auditor
TC Group
5th Floor
3 Dorset Rise
London
EC4Y 8EN
Business address
7 Solar Way
Innova Park
Enfield
Middlesex
EN3 7XY
JJ FOOD HOLDING CO LTD
CONTENTS
Page
Strategic report
1 - 4
Directors' report
5
Directors' responsibilities statement
6
Independent auditor's report
7 - 9
Group statement of comprehensive income
10
Group statement of financial position
11
Company statement of financial position
12
Group statement of changes in equity
13
Company statement of changes in equity
14
Group statement of cash flows
15
Company statement of cash flows
16
Notes to the financial statements
17 - 33
JJ FOOD HOLDING CO LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025

The directors present the ir strategic report for the year ended 31 March 2025.

Principal activities & fair review of the business

The group's principal activity consists of the wholesale distribution of food, drinks and packaging to catering establishments, retail outlets, hospitals, educational establishments, and private consumers.

The year under review has proven challenging due to inflationary pressures impacting the restaurant and catering sectors. The annual inflation rate of food and non-alcoholic beverages was 3% in the year to 31 March 2025, adversely affecting trading conditions across our customer base.

Despite these headwinds, the group took strategic steps to grow its turnover. The acquisitions of Gatelands Supplies Limited and Premier East Limited, whose operations were subsequently integrated into JJ Food Service Limited, enabled the company to expand its product range, particularly within the Asian market segment. These acquisitions are expected to drive future growth and strengthen our market position in the wholesale food and beverage industry.

Future developments

Looking forward, the company anticipates maintaining turnover at approximately £250m, with continued profitable operations.

Further growth is expected to be driven by strategic acquisitions aimed at diversifying and expanding our product portfolio.

Principal risks and uncertainties

Credit risk

Trade debtors are managed by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding.

Liquidity risk

In respect of bank balances, liquidity risk is managed by the movement of funds between accounts to obtain the maximum rate of interest while ensuring that funds are available as and when required.

Trade creditors liquidity risk is managed by ensuring payments for suppliers are made according to their credit terms and ensuring sufficient funds are available to meet those payments.

Foreign currency risk

Stock and trade creditors exchange rate risks are managed by contracting with forward foreign exchange contracts to minimise large fluctuations in exchange rates and also agreeing the cost in sterling wherever possible.

Key performance indicators

The key financial indicators of turnover, gross profit and net profit after taxation communicate the financial performance of the group as a whole. The key financial performance indicators for the last three years are as follows:-

|  | 20 25 | 2024 | 2023
|  | £ | £ | £
Turnover |  | 243,935,169 | 249,991,567 | 270,526,213
Gross profit |  | 63,063,333 | 64,079,038 | 73,286,963
Net profit after tax |  | 12,607,112 | 15,442,48 9 | 26,069,389

- 1 -
JJ FOOD HOLDING CO LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

Other performance indicators

On a regular basis, the directors also consider the impact on the group of the following key non-financial performance indicators namely staff, health and safety and environmental regulations.

1. Staff

The group is committed to a philosophy that content and well-trained employees are important assets of the business. Therefore, the group seeks to provide an environment which encourages the continuous development of employees through comprehensive training programmes where appropriate.

The group has an equal opportunities policy and is committed to ensuring that all employees are treated fairly, regardless of gender, marital status, ethnicity or disability. Training is provided to all levels of staff, and investment in employee development continues to be a priority. Within the equal opportunities policy, the group gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a disabled person.

The directors monitor staff turnover and staffing levels on a continuous basis recognising the crucial importance to the business of retaining the best staff.

The group will, for the third consecutive year, pay a bonus of 5% of the net profit before tax to all employees who qualify. This is as a reward for being a loyal employee and contributing to the success of the group.

2. Health and safety

The health and safety of staff is also regarded as paramount and incident rates are monitored closely.

3. Environmental regulations

The group seeks to operate to the highest standards and comply with all environmental regulations relating to food. The group fulfils its duty to minimise adverse environmental impacts by ensuring efficient use of materials and energy, recycling where possible, minimising waste and ensuring compliance with relevant legislation.

Section 172(1) Statement
During the preparation of these financial statements the directors have had regard to the matters set out in section 172(1)(a) to (f) of the Companies Act 2006 when performing their duties under section 172.
Under the Act, a director of a company must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its' members as a whole, and in doing so have regard (amongst other matters) to:
(a) the likely consequences of any decision in the long term,
(b) the interests of the company's employees,
(c) the need to foster the company's business relationships with suppliers, customers and others,
(d) the impact of the company's operations on the community and the environment,
(e) the desirability of the company maintaining a reputation for high standards of business conduct, and
(f) the need to act fairly, as between members of the company.
Group board objectives
The following paragraphs summarise how the directors fulfil their duties:
Risk management
The directors of the group have the responsibility for setting the risk management policies. This framework identifies, monitors, measures and implements strategies to manage and mitigate risk across the group. Further details of financial risk management are set out above in principal risks and uncertainties section of this report.
- 2 -
JJ FOOD HOLDING CO LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Staff and staff involvement
Our staff are at the forefront of our business and they represent the core value of the group, excellent customer service. The group is committed to being a responsible employer and managing the performance, needs and expectations of our employees in a fair and transparent manner. The group operates a number of initiatives promoting employee engagement, health and wellbeing and has been a strong supporter of “Women in Wholesale” to promote the presence of women in our industry, throughout all areas of operations.
The group has an equal opportunities policy and is committed to ensuring that all employees are treated fairly, regardless of gender, marital status, ethnicity or disability. Training is provided to all levels of staff and investment in employee development continues to be a priority.
The group's policy is to consult and discuss with employees matters likely to affect employees' interests. Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.
The group will, for the third consecutive year, pay a bonus of 5% of the net profit before tax to all employees who qualify. This is as a reward for being a loyal employee and contributing to the success of the group.
Our Customers and Suppliers
Our relationship with our customers is paramount to the ongoing success of our business. The needs and expectations of our customers are integral to our business strategy and planning to ensure the group delivers products that meet the highest high quality standards and are compliant with all food regulations.
We foster long term relationships with our suppliers through the collaboration and development of high quality and sustainable supply chains.
Community and environment
The group participates in a number of community initiatives to raise money for good causes and provide goods when the need arises. The group is continually looking to reduce its carbon footprint and is committed to sourcing sustainable, ethically sourced produce. During the year, the group continued to install solar panels on all branches and these installations should be completed this year.
Shareholders
The ultimate controlling party of the group is Mr. M. H. Kiamil who is also a director and involved in the day to day operations of the business, including the instigation and implementation of short and long term financial and business objectives.
Supplier payment policy
The group's current policy concerning the payment of trade creditors is to:
• settle the terms of payment with suppliers when initially entering into a trading relationship;
• ensure that suppliers are made aware of the group's terms of payment;
• pay in accordance with the group's contractual and other legal obligations.
- 3 -
JJ FOOD HOLDING CO LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Carbon reporting and the environment
The group supports the drive for sustainable business and reducing the impact on the environment and has developed a sustainability policy. The group's vision on sustainability is to conduct business responsibly, to the benefit of all stakeholders and with reference to relevant Sustainable Development Goals as set by the United Nations.
The group is required to make disclosures under Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018:
2025
2024
Energy use in kWh
Greenhouse gas emissions in kgCO2e
Energy use in kWh
Greenhouse gas emissions in kgCO2e
Electricity
6,335,099
1,203,669
7,516,424
1,556,456
Gas
434,540
78,217
540,779
97,340
Transport
11,240,404
2,697,697
11,357,249
2,725,740
Liquid Petroleum Gas
2,216
465
2,272
477
Greenhouse Gas ("GHG") intensity per £100 of sales is 1.632kgCO2e (2024: 1.756kgCO2e). The most significant reason for this decrease was due to the group's effort in GHG reduction during the year. Decreased transport mileage was the result of the scaling-back of customer next day delivery service further during the year. The group's new vehicle fleet meets LEZ requirements. The goods handling equipment was replaced which has resulted in a substantial reduction in LPG.
GHG emissions are from operationally controlled activities in accordance with WRI/WBCSD Reporting Protocols (Revised edition) using 2024 BEIS conversion factors.
The principal action taken for increasing the group's energy efficiency going forward is to install solar panels at all branches, a process that will be completed during the current year.
The group continued replacing lighting and equipment during maintenance with LED lighting and energy efficient equipment and all staff are encouraged to conserve energy wherever possible.

On behalf of the board

Mr. M. H. Kiamil
Director
5 December 2025
- 4 -
JJ FOOD HOLDING CO LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025

The directors present their annual report and financial statements for the year ended 31 March 2025.

Results and dividends

The results for the year are set out on page 10.

No dividends have been declared or paid during the current or previous year. No final dividend is proposed.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr. M. H. Kiamil
Mr. M. Ahmed
Mrs O. Kiamil
Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The group's policy is to consult and discuss with employees, through staff councils and at meetings, matters likely to affect employees' interests. Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

Auditor

TC Group were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006 and will be deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Other matters

The group has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of financial risk management objectives and future developments.

On behalf of the board
Mr. M. H. Kiamil
Director
5 December 2025
- 5 -
JJ FOOD HOLDING CO LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025

The directors are responsible for preparing the Annual Report 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). 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 group and company, 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;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

- 6 -
JJ FOOD HOLDING CO LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JJ FOOD HOLDING CO LTD
Opinion

We have audited the financial statements of JJ Food Holding Co Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 the parent company's affairs as at 31 March 2025 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

- 7 -
JJ FOOD HOLDING CO LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF JJ FOOD HOLDING CO LTD
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 identifie d material misstatements in the strategic report and the directors' r eport.

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
- 8 -

As explained more fully in the directors' r esponsibilities s tatement, 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor's report 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.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

Our approach was as follows:

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the group and determined that the most significant are those that relate to the reporting framework (FRS 102, the Companies Act 2006), and the relevant direct and indirect tax compliance regulation in the United Kingdom. In addition, the group is required to comply with data protection, anti-bribery, anti-money laundering, employment, environmental and health and safety legislation.

- We understood how the group is complying with those frameworks by making enquiries of management and seeking representations from those charged with governance. We corroborated our understanding by reviewing supporting evidence, including board meeting minutes.

- Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved enquiries of management and those charged with governance and a review of legal and professional expenses, including board meeting minutes.

JJ FOOD HOLDING CO LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF JJ FOOD HOLDING CO LTD

- We assessed the susceptibility of the group’s financial statements to material misstatement, including how fraud might occur by considering the risk of management override of internal control and by designating revenue recognition as a fraud risk. We performed journal entry testing by specific risk criteria, with a focus on journals indicating large or unusual transactions based on our understanding of the business. We tested completeness of income through substantive tests performed, analytical review procedures and cut off tests on the revenue recognised.

- 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's report 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.

Stephen Simou FCA (Senior Statutory Auditor)
For and on behalf of TC Group
8 December 2025
Statutory Auditor
5th Floor
3 Dorset Rise
London
EC4Y 8EN
- 9 -
JJ FOOD HOLDING CO LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
£
£
Revenue
3
243,935,169
249,991,567
Cost of sales
(180,871,836)
(185,912,529)
Gross profit
63,063,333
64,079,038
Distribution costs
(5,235,303)
(5,180,597)
Administrative expenses
(43,642,186)
(42,235,873)
Other operating income
1,111,401
1,020,263
Operating profit
5
15,297,245
17,682,831
Investment income
8
1,867,337
2,179,533
Other gains and losses
9
-
1,100,000
Profit before taxation
17,164,582
20,962,364
Tax on profit
10
(4,557,470)
(5,519,875)
Profit for the financial year
12,607,112
15,442,489
Profit for the financial year is all attributable to the owners of the parent company.

The income statement has been prepared on the basis that all operations are continuing operations.

- 10 -
JJ FOOD HOLDING CO LTD
GROUP STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
2025
2024
Notes
£
£
£
£
Non-current assets
Goodwill
11
1,000,000
-
0
Property, plant and equipment
12
60,395,264
60,706,954
Investment property
13
16,700,000
16,700,000
Investments
14
22,773
22,773
78,118,037
77,429,727
Current assets
Inventories
16
21,941,645
17,995,593
Trade and other receivables
17
9,419,391
12,512,359
Cash and cash equivalents
51,346,808
46,582,249
82,707,844
77,090,201
Current liabilities
18
(21,829,038)
(28,177,408)
Net current assets
60,878,806
48,912,793
Total assets less current liabilities
138,996,843
126,342,520
Provisions for liabilities
Deferred tax liability
19
(3,991,893)
(3,944,682)
Net assets
135,004,950
122,397,838
Equity
Called up share capital
21
2,000
2,000
Retained earnings
135,002,950
122,395,838
Total equity
135,004,950
122,397,838
The financial statements were approved by the board of directors and authorised for issue on
5 December 2025
05 December 2025
and are signed on its behalf by:
Mr. M. H. Kiamil
Director
Company registration number 12354756 (England and Wales)
- 11 -
JJ FOOD HOLDING CO LTD
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
31 March 2025
2025
2024
Notes
£
£
£
£
Non-current assets
Investments
14
36,228,321
36,228,321
Current assets
Trade and other receivables
17
7,064,620
58,404
Cash and cash equivalents
-
0
9,003
7,064,620
67,407
Current liabilities
18
(6,754,541)
(6,754,800)
Net current assets/(liabilities)
310,079
(6,687,393)
Total assets less current liabilities
36,538,400
29,540,928
Equity
Called up share capital
21
2,000
2,000
Retained earnings
36,536,400
29,538,928
Total equity
36,538,400
29,540,928

As permitted by s408 Companies Act 2006, the c ompany has not presented its own income statement and related notes. The c ompany’s profit for the year was £6,997,472 (2024 - £2,597 loss).

The directors of the company have elected not to include a copy of the income statement within the financial statements.

The financial statements were approved by the board of directors and authorised for issue on
5 December 2025
05 December 2025
and are signed on its behalf by:
Mr. M. H. Kiamil
Director
Company Registration No. 12354756
- 12 -
JJ FOOD HOLDING CO LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
Share capital
Retained earnings
Total
£
£
£
Balance at 1 April 2023
2,000
106,953,349
106,955,349
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
15,442,489
15,442,489
Balance at 31 March 2024
2,000
122,395,838
122,397,838
Year ended 31 March 2025:
Profit and total comprehensive income for the year
-
12,607,112
12,607,112
Balance at 31 March 2025
2,000
135,002,950
135,004,950
- 13 -
JJ FOOD HOLDING CO LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
Share capital
Retained earnings
Total
£
£
£
Balance at 1 April 2023
2,000
29,541,525
29,543,525
Year ended 31 March 2024:
Loss and total comprehensive income for the year
-
(2,597)
(2,597)
Balance at 31 March 2024
2,000
29,538,928
29,540,928
Year ended 31 March 2025:
Profit and total comprehensive income
-
6,997,472
6,997,472
Balance at 31 March 2025
2,000
36,536,400
36,538,400
- 14 -
JJ FOOD HOLDING CO LTD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
9,673,011
17,963,324
Income taxes paid
(3,581,795)
(4,672,743)
Net cash inflow from operating activities
6,091,216
13,290,581
Investing activities
Purchase of property, plant and equipment
(2,003,023)
(24,394,281)
Proceeds from disposal of property, plant and equipment
14,351
5,300
Purchase of subsidiaries, net of cash acquired
(2,045,428)
-
Purchase of investments
-
(6,070)
Repayment of loans
842,464
864,394
Interest received
1,864,979
2,179,533
Net cash used in investing activities
(1,326,657)
(21,351,124)
Net increase/(decrease) in cash and cash equivalents
4,764,559
(8,060,543)
Cash and cash equivalents at beginning of year
46,582,249
54,642,792
Cash and cash equivalents at end of year
51,346,808
46,582,249
- 15 -
JJ FOOD HOLDING CO LTD
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
27
(7,010,711)
(460)
Income taxes refunded
1,708
430
Net cash outflow from operating activities
(7,009,003)
(30)
Investing activities
Dividends received
7,000,000
-
0
Net cash generated from/(used in) investing activities
7,000,000
-
Cash and cash equivalents at beginning of year
9,003
9,033
Cash and cash equivalents at end of year
-
0
9,003
- 16 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
Company information

JJ Food Holding Co Ltd (“the company”) is a private company limited by shares incorporated in England and Wales. The registered office and business address is at 7 Solar Way, Innova Park, Enfield, Middlesex, EN3 7XY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the group. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company JJ Food Holding Co Ltd together with all entities controlled by the parent company.

All financial statements are made up to 31 March 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company and the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the se financial statements.

1.4
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on collection or dispatch of the goods.

- 17 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)

Other operating income

Other operating income relates to marketing services and rental income. Marketing services a re recognised in the accounting period in which the services are rendered when the outcome of the contract can be estimated reliably.

R ental income is recognised over the period of the lease.

Interest income

Interest income is recognised using the effective interest rate method when the right to receive interest has been established and it is probable that the economic benefits will flow to the group.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 3 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.6
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. The group only capitalise assets that cost over £1,000.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land
Nil
Buildings
0% to 2% straight line
Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Computer equipment
33 1/3% straight line
Motor vehicles
6% to 25% straight line

No depreciation is provided on the freehold building of one of the subsidiaries. Given the length of life of the building, and because it is maintained to a high standard, it is the opinion of the directors that the residual value would be sufficiently high to make any depreciation charge immaterial.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

1.7
Investment properties

Investment properties, which are properties held to earn rentals and/or for capital appreciation, are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently they are measured at fair value a t the reporting end date, as determined by the directors. The surplus or deficit on revaluation is recognised in profit or loss. Only the properties leased outside the group are recognised as investment properties.

- 18 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
1.8
Non-current investments

I n the parent company financial statements, investments in subsidiaries and associate s entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity ultimately controlled by the parent company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Artwork owned by the Group is initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

1.9
Impairment of non-current assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the group estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.10
Inventories
- 19 -

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit and loss.

1.11
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.

1.12
Financial instruments

The group 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 group's statement of financial position when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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 assets, which include trade and other receivables 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 m ethod 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
Impairment of financial assets

At the end of each reporting date, f inancial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the income statement.

Derecognition of financial assets

Financial assets are derecognised only when:-

- the contractual rights to the cash flows from the asset expire or are settled; or

- substantially all the risks and rewards of ownership are transferred to another entity; or

- control of the asset has transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

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 group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from fellow group companies 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 paymen ts 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 rate method.

Trade payables are obligations to pay for goods or 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.13
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs.

1.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

- 20 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the group is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.18
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

- 21 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities 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 revision affects both current and future periods.

The group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year are addressed below.

Depreciation

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Valuation of investment properties

The fair value of the investment properties at 31 March 202 5 had been arrived at on the basis of valuations carried out by the directors of the company. The valuations are made on an open market value basis with reference to recent transactions involving comparable properties.

3
Revenue
2025
2024
£
£
Revenue analysed by class of business
Wholesale distribution and cash and carry of food stuff and packaging
243,411,300
249,591,901
Commission from online system for food services and other income
523,869
399,666
243,935,169
249,991,567
2025
2024
£
£
Other significant revenue
Interest income
1,867,337
2,179,533
Marketing services
227,145
304,178
- 22 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
3
Revenue
(Continued)
2025
2024
£
£
Revenue analysed by geographical market
UK
243,183,489
249,682,300
Europe
530,994
210,088
Other
220,686
99,179
243,935,169
249,991,567
4
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and the company
3,300
3,420
Audit of the financial statements of the company's subsidiaries
85,923
73,320
89,223
76,740
For other services
All other non-audit services
3,477
12,827
5
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange losses/(gains)
381,174
(7,848)
Depreciation of owned property, plant and equipment
2,271,472
2,897,200
Loss/(profit) on disposal of property, plant and equipment
28,890
(3,813)
Amortisation of intangible assets
500,000
-
Cost of inventories recognised as an expense
180,871,836
185,912,529
Operating lease charges
632,285
725,894
6
Employees

The average monthly number of persons employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Operations
656
699
-
-
Sales, management and administration
111
112
-
-
Total
767
811
0
0
- 23 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
6
Employees
(Continued)

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
28,221,171
26,268,138
-
0
-
0
Social security costs
2,931,313
2,646,320
-
-
Pension costs
397,471
397,356
-
0
-
0
31,549,955
29,311,814
-
0
-
0
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
3,210,395
3,224,338
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
2,899,888
2,939,192

There were no key management personnel other than the directors.

8
Investment income
2025
2024
£
£
Interest income
Interest on bank deposits
1,821,659
2,179,533
Other interest income
45,678
-
Total income
1,867,337
2,179,533
9
Other gains and losses
2025
2024
£
£
Changes in the fair value of investment properties
-
1,100,000
- 24 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
4,536,958
4,400,415
Adjustments in respect of prior periods
21
-
0
Total current tax
4,536,979
4,400,415
Deferred tax
Origination and reversal of timing differences
20,491
1,119,460
Total tax charge
4,557,470
5,519,875

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
17,164,582
20,962,364
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
4,291,146
5,240,591
Tax effect of expenses that are not deductible in determining taxable profit
767,720
219,720
Gains not taxable
-
0
(275,000)
Unutilised tax losses carried forward
21,171
125,161
Permanent capital allowances in excess of depreciation
(543,079)
(733,718)
Under/(over) provided in prior years
21
-
0
Changes in deferred tax
20,491
943,121
Taxation charge
4,557,470
5,519,875
- 25 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 April 2024
-
0
Additions
1,500,000
At 31 March 2025
1,500,000
Amortisation and impairment
At 1 April 2024
-
0
Amortisation charged for the year
500,000
At 31 March 2025
500,000
Carrying amount
At 31 March 2025
1,000,000
At 31 March 2024
-
0
The company had no intangible fixed assets at 31 March 2025 or 31 March 2024.
- 26 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
12
Property, plant and equipment
Group
Freehold land
Leasehold improvements
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 April 2024
57,294,007
-
0
11,673,383
5,106,573
1,186,846
11,956,303
87,217,112
Additions
324,693
-
0
1,235,501
259,322
7,373
176,134
2,003,023
Business combinations
-
0
69,428
555,927
118,934
14,945
50,934
810,168
Disposals
-
0
(69,428)
(555,927)
(332,226)
(14,945)
(155,109)
(1,127,635)
At 31 March 2025
57,618,700
-
0
12,908,884
5,152,603
1,194,219
12,028,262
88,902,668
Depreciation and impairment
At 1 April 2024
7,276,978
-
0
5,320,496
3,934,849
1,172,033
8,805,802
26,510,158
Depreciation charged in the year
658,183
-
0
1,002,330
170,259
1,685
439,015
2,271,472
Eliminated in respect of disposals
-
0
-
0
(411,331)
(323,661)
(6,430)
(112,179)
(853,601)
Business combination
-
0
-
0
411,331
110,680
6,430
50,934
579,375
At 31 March 2025
7,935,161
-
0
6,322,826
3,892,127
1,173,718
9,183,572
28,507,404
Carrying amount
At 31 March 2025
49,683,539
-
0
6,586,058
1,260,476
20,501
2,844,690
60,395,264
At 31 March 2024
50,017,029
-
0
6,352,887
1,171,724
14,813
3,150,501
60,706,954
The company had no property, plant and equipment at 31 March 2025 or 31 March 2024.
- 27 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
13
Investment property
Group
Company
2025
2025
£
£
Fair value
At 1 April 2024 and 31 March 2025
16,700,000
-

The fair value of the investment properties have been arrived at on the basis of a valuation carried out by the directors of the group. The valuation was made on an open market value basis with reference to previous professional valuations, revised to reflect recent transactions involving comparable properties. The investment properties have an historical cost of £4,872,447 (202 4 - £4,872,447).

14
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
15
-
0
-
0
36,228,321
36,228,321
Other investments
22,773
22,773
-
0
-
0
22,773
22,773
36,228,321
36,228,321
Movements in non-current investments
Group
Other
£
Cost or valuation
At 1 April 2024 and 31 March 2025
22,773
Carrying amount
At 31 March 2025
22,773
At 31 March 2024
22,773
Movements in non-current investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 April 2024 and 31 March 2025
36,228,321
Carrying amount
At 31 March 2025
36,228,321
At 31 March 2024
36,228,321
- 28 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
15
Subsidiaries

Details of the company's subsidiaries at 31 March 2025 are as follows:

Name of undertaking
Address
Nature of business
Class of
% Held
shares held
Direct
Indirect
Falcon Fast Food Supplies Limited
1
Dormant
Ordinary
0
100.00
FOODit Limited
1
Facilitating online systems for food services
Ordinary
0
100.00
JJ Fast Foods Limited
1
Dormant
Ordinary
0
100.00
JJ Food Service Distribution Limited
1
Dormant
Ordinary
0
100.00
JJ Food Service Limited
1
Wholesale and distribution of foodstuffs
Ordinary
0
100.00
J J Food Service Holdings Limited
1
Property investment and holding company
Ordinary
100.00
-
JJFS Investments Ltd
1
Investment holding company
Ordinary
0
100.00
JJ Holding Anonim Sirketi
2
Investment holding company
Ordinary
0
100.00
Huska Turizm Anonim Sirketi
2
Tourism
Ordinary
0
75.00
Gatelands Supplies Limited
1
Wholesale of meat and meat products
Ordinary
0
100.00
Premier East Limited
1
Provision of human resources services
Ordinary
0
100.00

Registered office addresses (all UK unless otherwise indicated):

1
7 Solar Way, Innova Park, Enfield, Middlesex, EN3 7XY.
2
Kavakli Istiklal Mah, Hazar Sk, Nazkaya Blk No:4 Silivri, Turkey

In April 2024, the group acquired 100% of Gatelands Supplies Limited and Premier East Limited through a wholly owned subsidiary, JJ Food Service Holdings Limited. The acquisition was accounted for under acquisition method.

16
Inventories
Group
Company
2025
2024
2025
2024
£
£
£
£
Foodstuffs and other goods for resale
21,941,645
17,995,593
-
0
-
0
- 29 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
17
Trade and other receivables
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade receivables
3,006,182
3,936,094
-
0
-
0
Corporation tax recoverable
123,292
1,132,055
-
0
866
Amounts owed by group undertakings
-
-
7,064,453
57,371
Other receivables
4,272,581
5,648,127
167
167
Prepayments and accrued income
1,959,114
1,425,078
-
0
-
0
9,361,169
12,141,354
7,064,620
58,404
Deferred tax asset (note 19)
10,491
12,794
-
0
-
0
9,371,660
12,154,148
7,064,620
58,404
Amounts falling due after more than one year:
Other receivables
-
0
300,000
-
0
-
0
Deferred tax asset (note 19)
47,731
58,211
-
0
-
0
47,731
358,211
-
-
Total debtors
9,419,391
12,512,359
7,064,620
58,404
18
Current liabilities
Group
Company
2025
2024
2025
2024
£
£
£
£
Trade payables
10,420,898
11,978,262
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
6,750,441
-
0
Corporation tax payable
61,754
510
-
0
-
0
Other taxation and social security
1,418,022
1,361,539
-
-
Other payables
828,987
7,364,931
-
0
6,750,000
Accruals and deferred income
9,099,377
7,472,166
4,100
4,800
21,829,038
28,177,408
6,754,541
6,754,800
- 30 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
19
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group, and movements thereon:

Liabilities
Liabilities
Assets
Assets
2025
2024
2025
2024
Group
£
£
£
£
Accelerated capital allowances
1,346,636
1,299,425
58,222
71,005
Revaluations
2,645,257
2,645,257
-
-
3,991,893
3,944,682
58,222
71,005
Deferred tax assets and liabilities are offset where the Group has a legally enforceable right to do so.
The expected net reversal of deferred tax assets and liabilities in the next 12 months cannot be reliably estimated.
There is no expiry date on timing differences.
Company
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Net liability at 1 April 2024
3,873,677
-
Charge to profit or loss
20,491
-
Business combinations
39,503
-
Net liability at 31 March 2025
3,933,671
-
20
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
397,471
397,356

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

21
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2,000
2,000
2,000
2,000
- 31 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
22
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
802,346
717,117
-
-
Between two and five years
2,179,898
2,441,600
-
-
In over five years
116,131
492,846
-
-
3,098,375
3,651,563
-
-
23
Capital commitments

Amounts contracted for but not provided in the financial statements:

Group
Company
2025
2024
2025
2024
£
£
£
£
Acquisition of property, plant and equipment
64,912
237,442
-
-
24
Related party transactions

At the year end, the group was owed £2,937,651 (202 4: £3,780,115) by a director. This amount is interest free, unsecured and repayable on demand.

25
Ultimate controlling party

The ultimate controlling party of the group is Mr. M. H. Kiamil by virtue of his shareholding.

- 32 -
JJ FOOD HOLDING CO LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
26
Cash generated from group operations
2025
2024
£
£
Profit for the year after tax
12,607,112
15,442,489
Adjustments for:
Taxation charged
4,557,470
5,519,875
Investment income
(1,867,337)
(2,179,533)
Loss/(gain) on disposal of property, plant and equipment
28,890
(3,813)
Fair value gain on investment properties
-
0
(1,100,000)
Amortisation and impairment of intangible assets
500,000
-
Depreciation and impairment of property, plant and equipment
2,271,472
2,897,200
Movements in working capital:
Increase in inventories
(3,946,052)
(1,698,902)
Decrease in trade and other receivables
2,082,002
846,689
Decrease in trade and other payables
(6,560,546)
(1,760,681)
Cash generated from operations
9,673,011
17,963,324
27
Cash absorbed by operations - company
2025
2024
£
£
Profit/(loss) for the year after tax
6,997,472
(2,597)
Adjustments for:
Taxation credited
(842)
(866)
Investment income
(7,000,000)
-
0
Movements in working capital:
(Increase)/decrease in trade and other receivables
(7,007,082)
1,803
(Decrease)/increase in trade and other payables
(259)
1,200
Cash absorbed by operations
(7,010,711)
(460)
28
Analysis of changes in net funds - group
1 April 2024
Cash flows
31 March 2025
£
£
£
Cash at bank and in hand
46,582,249
4,764,559
51,346,808
29
Analysis of changes in net funds - company
1 April 2024
Cash flows
31 March 2025
£
£
£
Cash at bank and in hand
9,003
(9,003)
-
0
- 33 -
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