Registration number:
JKS Holdings Ltd
for the Year Ended 31 July 2025
Registration number:
JKS Holdings Ltd
for the Year Ended 31 July 2025
JKS Holdings Ltd
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Consolidated Statement of Comprehensive Income |
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Consolidated Statement of Financial Position |
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Statement of Financial Position |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
JKS Holdings Ltd
Company Information
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Directors |
Mr Singh Mr Singh |
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Company secretary |
Mr Singh |
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Registered office |
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Auditors |
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JKS Holdings Ltd
Strategic Report for the Year Ended 31 July 2025
The directors present their strategic report for the year ended 31 July 2025.
Principal activity
The principal activity of the group is that of a holding company.
Fair review of the business
The directors are pleased to report turnover for the group of £4,789,393 (2024: £4,794,538) an decrease of £5,145 during the year.
Profit before tax for the group has decreased from £587,614 to £582,674 during the year, the gross profit margin for the group has risen to 34.91% from 33.44% in 2024.
Profit for the year after tax was reported as £417,545 (2024: £427,967, after a gain on financial assets at fair value of £30,000)
The directors are satisfied with the performance of the group during the period.
The net assets of the group as at 31 July 2025 were £2,927,847 compared to £2,685,302 as at 31 July 2024.
The directors do not recommend payment of a final dividend.
Principal risks and uncertainties
The directors assess the performance of the group using change in turnover, gross profit and operating profit and net assets as set out above.
The group assesses its opportunities and risks in the market place including areas such as competition, market trends and health and safety policies in order to maintain and extend its business activities.
The company has a normal level of exposure to price, credit, liquidity and cashflow risks arising from trading activities which are conducted in sterling. The group does not enter into hedging transactions.
At the balance sheet date there were no significant areas of risk not covered.
Directors
Both company directors are male.
Approved and authorised by the
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JKS Holdings Ltd
Directors' Report for the Year Ended 31 July 2025
The directors present their report and the for the year ended 31 July 2025.
Directors of the group
The directors who held office during the year were as follows:
Information included in the Strategic Report
The company has chosen in accordance with section 414C(11) of the Companies Act 2006 to set out in the groups Strategic Report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the Directors' Report.
Environmental matters
Information about environmental matters, the groups employees and human rights issues have not been provided as the directors do not believe that this is fundamental to gain an understanding of the business.
Future developments
The Directors were satisfied with the overall performance in 2025. During 2026 the group will continue to be impacted by the increase in wage costs but expect another strong financial performance.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Reappointment of auditors
The auditors Westcotts (SW) LLP are deemed to be reappointed under Section 487(2) of the Companies Act 2006.
Approved and authorised by the
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JKS Holdings Ltd
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities 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 the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 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 the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the 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 the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
JKS Holdings Ltd
Independent Auditor's Report to the Members of JKS Holdings Ltd
Qualified opinion
We have audited the financial statements of JKS Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2025, which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Statement of Financial Position, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion, except for the possible effects of the matters described in the basis for qualified opinion section of our report, 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 July 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 qualified opinion
On 31 July 2025, the group transferred stock with a recorded cost of £470,000 to investment
property at fair value of £738,250, recognising a gain of £268,250. We were unable to obtain sufficient
audit evidence in respect of the recorded cost of this stock as management was unable to provide
supporting documentation. Consequently, we were unable to determine whether any adjustments to
this stock, which was included in the opening and prior year balance sheets at the same value which was acquired prior to 2012 and the related gain on transfer recognised in cost of sales, were necessary to the financial statements or the strategic report.
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 responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 qualified opinion.
Other matters
In the previous accounting period, the directors of the group took advantage of audit exemption under s477 of the Companies Act 2006. Therefore, the prior period financial statements were not subject to audit.
JKS Holdings Ltd
Independent Auditor's Report to the Members of JKS Holdings Ltd (continued)
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's 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 ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning the carrying amount of £2.2 million (2024: £2.3 million) of land and buildings acquired prior to 2010, the gain of £268,250 arising on the transfer of stock with a recorded value of £470,000 to investment property and the opening stock valuation alongside the prior year stock valuation. We have concluded that where the other information relates to fixed assets, opening stock or the profit and loss account, it may be materially misstated for the same reason.
Opinion on other matter prescribed by the Companies Act 2006
Except for the possible effects of the matters described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
Except for the matter described in the basis for qualified opinion section of our report, in the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
Arising solely from the limitation on scope of our work relating to tangible fixed assets, opening stock, cost of sales or the profit and loss account, referred to above:
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we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and |
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we were unable to determine whether adequate accounting records have been kept. |
JKS Holdings Ltd
Independent Auditor's Report to the Members of JKS Holdings Ltd (continued)
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:
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returns adequate for our audit have not been received from branches not visited by us; or |
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the parent company financial statements are not in agreement with the accounting records and returns; or |
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certain disclosures of directors' remuneration specified by law are not made. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], 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 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 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
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The group is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other companies legislation.
To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:
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identifying areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with management and directors; |
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communicating identified laws and regulations throughout our team, and remained alert to any indications of non-compliance throughout the audit; and |
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assessing the extent of compliance through making enquiries of management and inspecting legal, regulatory, and HMRC correspondence, if any. |
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We evaluated the incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance and revenue being recorded in the incorrect accounting period.. Our audit procedures in relation to fraud included but were not limited to: |
JKS Holdings Ltd
Independent Auditor's Report to the Members of JKS Holdings Ltd (continued)
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making enquiries of management and directors on whether they had knowledge of any actual, suspected or alleged fraud; |
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gaining an understanding of the internal controls established to mitigate risks related to fraud; |
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discussing amongst the engagement team the risks of fraud; |
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performing sales cut off testing around the year end to confirm that revenue was recognised in the period to which it related; and |
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addressing the risks of fraud through management override of controls by performing risk-based target testing of journal entries. |
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: 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.
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For and on behalf of
Barnstaple
Devon
EX31 1SQ
JKS Holdings Ltd
Consolidated Statement of Comprehensive Income for the Year Ended 31 July 2025
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Note |
2025 |
(As restated) |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Other operating income |
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Operating profit |
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Gain on financial assets at fair value through profit and loss |
- |
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Other interest receivable and similar income |
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Interest payable and similar expenses |
( |
( |
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(155,184) |
(116,194) |
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Profit before tax |
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Tax on profit |
( |
( |
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Profit for the financial year |
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Profit/(loss) attributable to: |
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Owners of the company |
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The group has no recognised gains or losses for the year other than the results above.
JKS Holdings Ltd
(Registration number: 06320952)
Consolidated Statement of Financial Position as at 31 July 2025
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Note |
2025 |
(As restated) |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investment property |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
202 |
202 |
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Profit and loss account |
2,927,645 |
2,685,100 |
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Equity attributable to owners of the company |
2,927,847 |
2,685,302 |
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Shareholders' funds |
2,927,847 |
2,685,302 |
Approved and authorised by the
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JKS Holdings Ltd
(Registration number: 06320952)
Statement of Financial Position as at 31 July 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Investments |
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Current assets |
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Cash at bank and in hand |
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Net assets |
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Capital and reserves |
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Called up share capital |
202 |
202 |
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Shareholders' funds |
202 |
202 |
The company made a profit after tax for the financial year of £175,000 (2024 - profit of £92,000).
Approved and authorised by the
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JKS Holdings Ltd
Consolidated Statement of Changes in Equity for the Year Ended 31 July 2025
Equity attributable to the parent company
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Share capital |
Profit and loss account |
Total |
Total equity |
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At 1 August 2023 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
( |
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At 31 July 2024 |
202 |
2,685,100 |
2,685,302 |
2,685,302 |
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Share capital |
Profit and loss account |
Total |
Total equity |
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At 1 August 2024 |
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Prior period adjustment |
- |
( |
( |
( |
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At 1 August 2024 (As restated) |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
( |
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At 31 July 2025 |
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JKS Holdings Ltd
Statement of Changes in Equity for the Year Ended 31 July 2025
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Share capital |
Profit and loss account |
Total |
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At 1 August 2023 |
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- |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 July 2024 |
202 |
- |
202 |
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Share capital |
Profit and loss account |
Total |
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At 1 August 2024 |
|
- |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 July 2025 |
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- |
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JKS Holdings Ltd
Consolidated Statement of Cash Flows for the Year Ended 31 July 2025
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Note |
2025 |
(As restated) |
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Cash flows from operating activities |
|||
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Profit for the year |
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Adjustments to cash flows from non-cash items |
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Depreciation and amortisation |
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Changes in fair value of investment property |
- |
( |
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Loss on disposal of tangible assets |
- |
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Finance income |
( |
( |
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Finance costs |
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Income tax expense |
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Capitalisation of stock |
(738,250) |
- |
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Working capital adjustments |
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Decrease in stocks |
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- |
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Decrease/(increase) in debtors |
|
( |
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Increase in creditors |
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Cash generated from operations |
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Income taxes paid |
( |
( |
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Net cash flow from operating activities |
|
|
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Cash flows from investing activities |
|||
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Interest received |
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|
|
Acquisitions of tangible assets |
( |
( |
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Net cash flows from investing activities |
( |
( |
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Cash flows from financing activities |
|||
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Interest paid |
( |
( |
|
|
Proceeds from bank borrowing draw downs |
( |
( |
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Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net (decrease)/increase in cash and cash equivalents |
( |
|
|
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Cash and cash equivalents at 1 August |
|
|
|
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Cash and cash equivalents at 31 July |
1,621,658 |
1,625,835 |
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JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025
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General information |
The company is a private company limited by share capital, incorporated in United Kingdom .
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling which is the functional currency of the entity.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 July 2025.
Turnover and profits arising between group companies are excluded.
A separate income statement for the company itself is not required following the exemptions afforded by Section 408 of the Companies Act 2006.
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
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Accounting policies (continued) |
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Statement of Comprehensive Income from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Going concern
The directors assessed that the group will have adequate resources available to finance its trading and other obligations during the course of twelve months from the approval date of these financial statements. They have therefore been prepared on a going concern basis.
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
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2 |
Accounting policies (continued) |
Prior period errors
During the year it was identified that £106,384 of loan interest and a related tax impact of £26,596 was omitted from the accounts for the year ended 31 July 2024. This loan interest and corporation tax charge has been included in the restated profit and loss account for 2024. The reduction in the corporation tax liability and increase in the loan balance have been included in creditors in the restated creditor balances as at 31 July 2024.
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the group’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
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.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
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2 |
Accounting policies (continued) |
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Asset class |
Depreciation method and rate |
|
Freehold property |
2% straight line |
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Plant and machinery |
20% reducing balance |
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Motor vehicles |
25% straight line |
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Fixtures and fittings |
25% reducing balance |
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Solar panels |
5% straight line |
|
Leasehold property |
Over term of lease - 999 years |
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Investment property
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Goodwill |
10 year straight line |
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated losses.
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
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2 |
Accounting policies (continued) |
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
|
2 |
Accounting policies (continued) |
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
|
Turnover |
The analysis of the group's turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Nursing and care fees |
|
|
|
Rental income from investment property |
|
|
|
|
|
The whole of the turnover is attributable to the principle activities of the group wholly undertaken in the United Kingdom.
|
Other operating income |
The analysis of the group's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Rent received |
|
|
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
- |
|
Loss on disposal of property, plant and equipment |
- |
|
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
- |
|
Other finance income |
|
|
|
|
|
|
Interest payable and similar expenses |
|
2025 |
(As restated) |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
|
8 |
Staff costs (continued) |
|
2025 |
2024 |
|
|
Directors |
|
|
|
Administration |
|
|
|
Other |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
In respect of the highest paid director:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
7,500 |
- |
|
Taxation |
Tax charged/(credited) in the consolidated statement of comprehensive income
|
2025 |
(As restated) |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
( |
|
Tax expense in the income statement |
|
|
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
|
11 |
Taxation (continued) |
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
(As restated) |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Deferred tax expense/(credit) relating to changes in tax rates or laws |
|
( |
|
Further item of tax increase |
- |
|
|
Total tax charge |
|
|
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
|
11 |
Taxation (continued) |
Deferred tax
Group
The deferred tax liability is made up as follows:
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
Revaluation of investment property |
- |
|
|
- |
|
|
2024 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
Revaluation of investment property |
- |
|
|
- |
|
|
Intangible assets |
Group
|
Goodwill |
Total |
|
|
Cost or valuation |
||
|
At 1 August 2024 |
|
|
|
At 31 July 2025 |
|
|
|
Amortisation |
||
|
Amortisation charge |
|
|
|
At 31 July 2025 |
|
|
|
Carrying amount |
||
|
At 31 July 2025 |
|
|
|
At 31 July 2024 |
|
|
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
|
Tangible assets |
Group
|
Land and buildings |
Long leasehold land and buildings |
Fixtures and fittings |
Plant and machinery |
Solar Panels |
Motor vehicles |
Total |
|
|
Cost or valuation |
|||||||
|
At 1 August 2024 |
|
|
|
|
- |
|
|
|
Additions |
|
- |
- |
|
|
- |
|
|
At 31 July 2025 |
|
|
|
|
|
|
|
|
Depreciation |
|||||||
|
At 1 August 2024 |
|
- |
|
|
- |
|
|
|
Charge for the year |
|
|
|
|
|
- |
|
|
At 31 July 2025 |
|
|
|
|
|
|
|
|
Carrying amount |
|||||||
|
At 31 July 2025 |
|
|
|
|
|
- |
|
|
At 31 July 2024 |
|
|
|
|
- |
- |
|
Included within the net book value of land and buildings above is £2,964,990 (2024 - £2,910,043) in respect of freehold land and buildings and £145,868 (2024 - £149,000) in respect of long leasehold land and buildings.
|
Investment properties |
Group
|
2025 |
|
|
At 1 August 2024 |
|
|
Transfers to and from stocks |
|
|
At 31 July 2025 |
|
Hatchmoor Nursing Home Limited - The investment property was revalued in April 2025 by an independent qualified valuer, Tim Hickman of Wright Commercial. The directors have confirmed the valuation remains appropriate at 31 July 2025.
Swimbridge Court Ltd - the investment properties were valued by an independent examiner, Toby Dowding of Chequers Estate agent as at 31st July 2025.
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
|
Investments |
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 August 2024 |
|
|
Provision |
|
|
Carrying amount |
|
|
At 31 July 2025 |
|
|
At 31 July 2024 |
|
The details of the subsidiary undertakings fully consolidated within these accounts are as follows:
Company: Hatchmoor Nursing Home Limited
Nature of business: Residential care home
Ordinary £1
Proportion held: 100% of nominal and voting rights
Company:Swimbridge Court Limited
Nature of business: Sales and letting of sheltered (care home) accommodation on purchased leasehold land.
Ordinary £1
Proportion held: 100% of nominal and voting rights
|
Stocks |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Finished goods and goods for resale |
|
|
- |
- |
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
|
Debtors |
|
Group |
Company |
|||
|
Current |
2025 |
2024 |
2025 |
2024 |
|
Trade debtors |
|
|
- |
- |
|
Other debtors |
|
|
- |
- |
|
Prepayments |
|
|
- |
- |
|
|
|
- |
- |
|
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash at bank |
|
|
|
|
|
Short-term deposits |
|
- |
- |
- |
|
|
|
|
|
|
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
(As restated) |
2025 |
2024 |
|
|
Due within one year |
|||||
|
Loans and borrowings |
|
|
- |
- |
|
|
Trade creditors |
|
|
- |
- |
|
|
Amounts due to related parties |
|
- |
- |
- |
|
|
Other payables |
|
|
- |
- |
|
|
Accruals |
|
|
- |
- |
|
|
Corporation tax liability |
117,547 |
227,563 |
- |
- |
|
|
|
|
- |
- |
||
|
Due after one year |
|||||
|
Loans and borrowings |
|
|
- |
- |
|
The bank loan is secured by a freehold 1st legal charge over land and its associated assets and a debenture over all assets of the company.
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 August 2024 |
|
|
|
Increase (decrease) in existing provisions |
|
|
|
At 31 July 2025 |
|
|
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
202 |
|
202 |
|
Reserves |
Company
Profit and loss account
This reserve records retained earnings and accumulated losses. Included within this fund are non-distributable funds of £7,452 relating to revaluation of investment properties.
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
|
Loans and borrowings |
Non-current loans and borrowings
|
Group |
Company |
|||
|
2025 |
(As restated) |
2025 |
2024 |
|
|
Bank borrowings |
|
|
- |
- |
Current loans and borrowings
|
Group |
Company |
|||
|
2025 |
(As restated) |
2025 |
2024 |
|
|
Bank borrowings |
|
|
- |
- |
Bank borrowings contain two loans held with NatWest Bank.
The first loan of £246,080 was taken out in September 2023 and is repayable in 60 monthly equal instalments of £4,836.42 commencing November 2023 and a final instalment of an amount sufficient to repay the loan and interest in full. The interest on the loan is at 1.5% over base rate, as of September 2023 base rate was 5.25%. As at the year-end £49,336 is shown as repayable within one year and £118,494 shown as repayable after one year.
The second loan of £2,447,997 was taken out in September 2023 and is and interest only loan which is repayable 60 months after the loan is drawn. The interest on the loan is fixed at 1.5% over base rate, as of September 2023 base rate was 5.25%. As at the year-end £2,447,997 is shown as repayable within two and five years.
These loans are secured by an existing fixed and floating debenture charge, dated April 2008, which NatWest Bank holds over the Company and all it's property and assets and a freehold 1st legal charge over the land and its associated assets.
JKS Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025 (continued)
|
Related party transactions |
Group
|
Transactions with directors |
|
2025 |
At 1 August 2024 |
Advances to director |
Repayments by director |
At 31 July 2025 |
|
Mr Singh |
||||
|
|
294,195 |
137,929 |
(145,750) |
286,374 |
|
Mr Singh |
||||
|
|
217,328 |
56,313 |
(273,000) |
641 |
|
2024 |
At 1 August 2023 |
Advances to director |
Repayments by director |
At 31 July 2024 |
|
Mr Singh |
||||
|
|
39,437 |
294,258 |
(39,500) |
294,195 |
|
Mr Singh |
||||
|
|
45,178 |
218,150 |
(46,000) |
217,328 |
The loan is repayable on demand and interest is charged on overdrawn balances at the official rate.
|
Parent and ultimate parent undertaking |
The group and the company were controlled throughout the year by its directors Mr JK Singh and Mr SS Singh.