KJL Property Management Limited 12324875 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Other letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true 12324875 2022-04-01 2023-03-31 12324875 2023-03-31 12324875 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12324875 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 12324875 bus:SmallEntities 2022-04-01 2023-03-31 12324875 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 12324875 bus:FullAccounts 2022-04-01 2023-03-31 12324875 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 12324875 bus:RegisteredOffice 2022-04-01 2023-03-31 12324875 bus:Director1 2022-04-01 2023-03-31 12324875 bus:Director2 2022-04-01 2023-03-31 12324875 bus:Director3 2022-04-01 2023-03-31 12324875 bus:Director4 2022-04-01 2023-03-31 12324875 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12324875 countries:AllCountries 2022-04-01 2023-03-31 12324875 2022-03-31 12324875 2021-04-01 2022-03-31 12324875 2022-03-31 12324875 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 12324875 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 12324875

Report of the Director and


Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

for
 

KJL Property Management Limited

 

KJL Property Management Limited

Contents of the Financial Statements
for the Year Ended 31 March 2023

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

KJL Property Management Limited

Company Information
for the Year Ended 31 March 2023

Directors:

J Liu

K Peng

C S Staley

N M Miller

Registered office:

8 The Water Gardens
Wisbech
PE13 1LD

Registered number:

12324875

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

KJL Property Management Limited

(Registration number: 12324875)
Balance Sheet as at 31 March 2023

Note

31.03.23

31.03.22

   

£

£

£

£

FIXED ASSETS

   

 

Investment property

4

 

665,681

 

665,681

CURRENT ASSETS

   

 

Debtors

3,353

 

-

 

Cash at bank and in hand

 

4,547

 

10,020

 

 

7,900

 

10,020

 

CREDITORS

   

 

Creditors within 1yr

5

426,100

 

433,474

 

Net current liabilities

   

(418,200)

 

(423,454)

Total assets less current liabilities

   

247,481

 

242,227

Creditors
Amounts falling due after more than one year

5

 

28,000

 

32,000

PROVISIONS FOR LIABILITES

 

48,800

 

50,000

Net assets

   

170,681

 

160,227

CAPITAL AND RESERVES

   

 

Called up share capital

 

100

 

100

Investment property reserve

 

151,200

 

150,000

Profit and loss account

 

19,381

 

10,127

Shareholders' funds

   

170,681

 

160,227

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 November 2023 and signed on its behalf by:
 

 

KJL Property Management Limited

(Registration number: 12324875)
Balance Sheet as at 31 March 2023 (continued)

.........................................
J Liu
Director

 

KJL Property Management Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

1.

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
8 The Water Gardens
Wisbech
PE13 1LD
United Kingdom

These financial statements were authorised for issue by the Board on 22 November 2023.

2.

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 presentational currency is Pound Sterling (£).

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 company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company 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 company's activities.

Tax

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted orsubstantively enacted by the balance sheet date.

 

KJL Property Management Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 company will not be able to collect all amounts due according to the original terms of the receivables.

3.

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

KJL Property Management Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023 (continued)

4.

INVESTMENT PROPERTY

Total
£

Cost or valuation

At 1 April 2022

665,681

At 31 March 2023

665,681

Depreciation

Carrying amount

At 31 March 2023

665,681

At 31 March 2022

665,681

Fair value at 31 March 2023 is represented by:

£

Cost

465,681

Valuation in 2022

200,000

665,681

At the year end, the investment property was valued on an open market basis by the directors.
 

5.

Creditors

Creditors: amounts falling due within one year

Note

31.03.23
£

31.03.22
£

Due within one year

 

Loans and borrowings

4,000

4,000

Taxation and social security

 

12,450

8,280

Accruals and deferred income

 

4,740

6,360

Other creditors

 

404,910

414,834

 

426,100

433,474

Included in other creditors is amount owed to the directors on which no interest or repayment terms have been set.

 

KJL Property Management Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023 (continued)

5

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

31.03.23
£

31.03.22
£

Due after one year

 

Loans and borrowings

28,000

32,000

6.

SECURED DEBTS

The following secured debts are included within creditors:

31.03.23
£

31.03.22
£

Other loans

20,000

20,000

These are secured by a charge over the freehold property.

7.

LOANS

An analysis of the maturity of loans is given below:

31.03.23
£

31.03.22
£

Amounts falling due within one year or on demand:
Other loans

4,000

4,000

Amounts falling due between one and two years:
Other loans - 1-2 years

4,000

4,000

Amounts falling due between two and five years:
Other loans - 2-5 years

12,000

12,000

Amounts falling due over five years:
Other loan 1 (over 5 yrs)

12,000

16,000