Company registration number 01014714 (England and Wales)
J & K PARTNERS LIMITED
FORMELY ANDERTON'S ROOFING SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
J & K PARTNERS LIMITED
FORMELY ANDERTON'S ROOFING SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
J & K PARTNERS LIMITED
FORMELY ANDERTON'S ROOFING SERVICES LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
285,982
287,301
Current assets
Debtors
5
10
1,016
Cash at bank and in hand
3,740
18,849
3,750
19,865
Creditors: amounts falling due within one year
6
(259,218)
(252,315)
Net current liabilities
(255,468)
(232,450)
Net assets
30,514
54,851
Capital and reserves
Called up share capital
7
1,000
1,000
Capital redemption reserve
1,000
1,000
Profit and loss reserves
28,514
52,851
Total equity
30,514
54,851

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 13 October 2023
Mr A B Page
Director
Company registration number 01014714 (England and Wales)
J & K PARTNERS LIMITED
FORMELY ANDERTON'S ROOFING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information

J & K Partners Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1-4 Kings Parade, Lower Coombe Street, Croydon, Surrey, CR0 1AA.

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 company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents rental income received from investment properties.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Plant and equipment
25% Reducing Balance
Fixtures and fittings
25% Reducing Balance
Computers
25% Straight Line

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 credited or charged to profit or loss.

1.5
Cash and cash equivalents

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

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

J & K PARTNERS LIMITED
FORMELY ANDERTON'S ROOFING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

J & K PARTNERS LIMITED
FORMELY ANDERTON'S ROOFING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
1
1
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 March 2022 and 28 February 2023
282,025
44,103
37,524
23,123
386,775
Depreciation and impairment
At 1 March 2022
-
0
43,354
32,997
23,123
99,474
Depreciation charged in the year
-
0
187
1,132
-
0
1,319
At 28 February 2023
-
0
43,541
34,129
23,123
100,793
Carrying amount
At 28 February 2023
282,025
562
3,395
-
0
285,982
At 28 February 2022
282,025
749
4,527
-
0
287,301
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
131
Other debtors
10
885
10
1,016
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
256,758
251,759
Accruals and deferred income
2,460
556
259,218
252,315
J & K PARTNERS LIMITED
FORMELY ANDERTON'S ROOFING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
7
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
500
500
500
500
Ordinary B Shares of £1 each
500
500
500
500
1,000
1,000
1,000
1,000
8
Related party transactions

Included within other creditors is a balance of £256,758 (2022: £251,759) due to the directors of the company.

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