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REGISTERED NUMBER: 10938737 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 April 2023

for

JOSH INVESTMENTS LTD

JOSH INVESTMENTS LTD (REGISTERED NUMBER: 10938737)






Contents of the Financial Statements
for the year ended 30 APRIL 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


JOSH INVESTMENTS LTD

Company Information
for the year ended 30 APRIL 2023







DIRECTORS: D.A. Mody
J.C. Gandhi
A. Gandhi





REGISTERED OFFICE: Global House
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: 10938737 (England and Wales)





ACCOUNTANTS: K J Pittalis and Partners LLP
Chartered Certified Accountants
Global House
303 Ballards Lane
London
N12 8NP

JOSH INVESTMENTS LTD (REGISTERED NUMBER: 10938737)

Statement of Financial Position
30 APRIL 2023

30/4/23 30/4/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 3,532,928 4,355,994
Investments 6 250,000 250,000
Investment property 7 850,000 -
4,632,928 4,605,994

CURRENT ASSETS
Stocks 948,763 987,623
Debtors 8 529,148 687,420
Cash at bank and in hand 281,696 186,756
1,759,607 1,861,799
CREDITORS
Amounts falling due within one year 9 2,214,390 2,176,732
NET CURRENT LIABILITIES (454,783 ) (314,933 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,178,145

4,291,061

CREDITORS
Amounts falling due after more than one
year

10

(2,611,433

)

(2,789,829

)

PROVISIONS FOR LIABILITIES 11 (349,114 ) (209,497 )
NET ASSETS 1,217,598 1,291,735

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 1,022,010 1,155,406
Retained earnings 195,488 136,229
SHAREHOLDERS' FUNDS 1,217,598 1,291,735

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JOSH INVESTMENTS LTD (REGISTERED NUMBER: 10938737)

Statement of Financial Position - continued
30 APRIL 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





J.C. Gandhi - Director


JOSH INVESTMENTS LTD (REGISTERED NUMBER: 10938737)

Notes to the Financial Statements
for the year ended 30 APRIL 2023

1. STATUTORY INFORMATION

Josh Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Building only over 100 years on building
Long leasehold - Straight line over 125 years
Fixtures and fittings - 25% on reducing balance

Land and building held and used in the Company's own activities for production and supply of goods or for administration purposes are stated in the statement of financial position at their revalued amounts. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

Depreciation on cost of buildings is charged to profit and loss. Depreciation on the revaluation amount on buildings is charged to the revaluation reserve, so as to write off their value less residual value, over their estimated useful life, using the straight line method.

Once the property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

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.

Investment property held under lease is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value are recognised in profit or loss in line with the 125 year lease term.

Investments
Equity investments are measured at fair value through profit or loss , except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably , which are recognised at cost less impairment until a reliable measure of fair value becomes available.

JOSH INVESTMENTS LTD (REGISTERED NUMBER: 10938737)

Notes to the Financial Statements - continued
for the year ended 30 APRIL 2023

3. ACCOUNTING POLICIES - continued

Stocks
Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Taxation
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 or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
These accounts have been prepared on a going concern basis on the grounds that related entities of the company will not withdraw support until such a time as the company has funds available to meet its debts and liabilities as and when they fall due.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 19 ) .

JOSH INVESTMENTS LTD (REGISTERED NUMBER: 10938737)

Notes to the Financial Statements - continued
for the year ended 30 APRIL 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and
property leasehold fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 May 2022 4,128,796 381,746 25,317 4,535,859
Additions - - 33,356 33,356
Reclassification/transfer (850,000 ) - - (850,000 )
At 30 April 2023 3,278,796 381,746 58,673 3,719,215
DEPRECIATION
At 1 May 2022 165,152 3,054 11,659 179,865
Charge for year 25,615 3,054 11,753 40,422
Charge written back (34,000 ) - - (34,000 )
At 30 April 2023 156,767 6,108 23,412 186,287
NET BOOK VALUE
At 30 April 2023 3,122,029 375,638 35,261 3,532,928
At 30 April 2022 3,963,644 378,692 13,658 4,355,994

Long leasehold property as included above also meets the definition of investment property. As the fair value of the company's interest in the leasehold property can not be measured reliably without undue cost or effort, it has been classified as long leasehold property and depreciated over the life of the lease, in accordance with FRS 102 - 16.3.

During the year the company commence renting one of its freehold properties to an unconnected third party. The freehold property has therefore been reclassified to investment properties. Depreciation charged on this assets has been reversed accordingly.

Cost or valuation at 30 April 2023 is represented by:

Fixtures
Freehold Long and
property leasehold fittings Totals
£    £    £    £   
Valuation in 2018 635,571 370,000 - 1,005,571
Cost 2,643,225 11,746 58,673 2,713,644
3,278,796 381,746 58,673 3,719,215

The fair value of the freehold properties at April 2023 has been arrived at on the basis of a valuation carried out at that date by the directors of the company who are not professionally qualified valuers. The directors believe the values shown in the accounts reflect the market value at at the reporting date. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in the location and takes into account the yield from rentals in the area where the property is situated.

JOSH INVESTMENTS LTD (REGISTERED NUMBER: 10938737)

Notes to the Financial Statements - continued
for the year ended 30 APRIL 2023

6. FIXED ASSET INVESTMENTS
Unlisted
investment
£   
COST
At 1 May 2022
and 30 April 2023 250,000
NET BOOK VALUE
At 30 April 2023 250,000
At 30 April 2022 250,000

7. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
Additions 494,376
Revaluations 355,624
At 30 April 2023 850,000
NET BOOK VALUE
At 30 April 2023 850,000

The fair value of the properties at April 2023 has been arrived at on the basis of a valuation carried out at that date by the directors of the company who are not professionally qualified valuers. The directors believe the values shown in the accounts reflect the market value at at the reporting date. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in the location and takes into account the yield from rentals in the area where the property is situated.

Cost or valuation at 30 April 2023 is represented by:
£   
Valuation in 2018 355,624
Cost 494,376
850,000

8. DEBTORS
30/4/23 30/4/22
£    £   
Amounts falling due within one year:
Trade debtors 127,759 130,998
Other debtors 91,119 260,313
218,878 391,311

Amounts falling due after more than one year:
Amounts owed by participating interests 310,270 296,109

Aggregate amounts 529,148 687,420

JOSH INVESTMENTS LTD (REGISTERED NUMBER: 10938737)

Notes to the Financial Statements - continued
for the year ended 30 APRIL 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/23 30/4/22
£    £   
Trade creditors 402,992 468,928
Amounts owed to associates 1,720,063 1,508,549
Taxation and social security 13,585 72,922
Other creditors 77,750 126,333
2,214,390 2,176,732

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/4/23 30/4/22
£    £   
Other creditors 2,611,433 2,789,829

Other creditors represent the loan balance owed to buy the trading property in November 2017. There is no security on the loans and no interest is charged on the balance due.

11. PROVISIONS FOR LIABILITIES
30/4/23 30/4/22
£    £   
Deferred tax
Accelerated capital allowances 8,815 2,595
Deferred tax 340,299 206,902
349,114 209,497

Deferred
tax
£   
Balance at 1 May 2022 209,497
Provided during year 139,617
Balance at 30 April 2023 349,114

The deferred tax provision as shown above relates to the potential future tax due should the investment properties and freehold property held by the company be sold. The provision has been calculated based on the difference between the historic cost of the properties and the market value of those properties as at the Balance Sheet date at the future applicable corporation tax rates. The increase in the provision for the year reflects the change in corporation tax rates from 19% to 25%, as required by FRS 102 S1A.

12. RELATED PARTY DISCLOSURES

The company is owed £310,270 (2022- £296,109) by Gandhi Investments Ltd, an entity in which the company holds 50% interest.