Company Registration No. 07534238 (England and Wales)
FJ CORPORATION LTD
Unaudited accounts
for the year ended 31 March 2023
FJ CORPORATION LTD
Unaudited accounts
Contents
FJ CORPORATION LTD
Company Information
for the year ended 31 March 2023
Company Number
07534238 (England and Wales)
Registered Office
International House
24 Holborn Viaduct
London
EC1A 2BN
Accountants
DananSarzin Chartered Accountants
International House
24 Holborn Viaduct
London
EC1A 2BN
FJ CORPORATION LTD
Statement of financial position
as at 31 March 2023
Tangible assets
96,795
33,594
Investment property
16,385,000
15,968,266
Debtors
5,477,608
4,958,774
Cash at bank and in hand
1,357
159,804
Creditors: amounts falling due within one year
(3,026,720)
(2,440,766)
Net current assets
2,452,245
2,677,812
Total assets less current liabilities
18,936,086
18,681,718
Creditors: amounts falling due after more than one year
(6,224,520)
(6,385,449)
Provisions for liabilities
Deferred tax
(1,659,678)
(1,655,691)
Net assets
11,051,888
10,640,578
Called up share capital
1
1
Revaluation reserve
7,511,870
7,511,870
Fair value reserve
828,235
429,735
Profit and loss account
2,711,782
2,698,972
Shareholders' funds
11,051,888
10,640,578
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 November 2023 and were signed on its behalf by
Binish Qureshi
Director
Company Registration No. 07534238
FJ CORPORATION LTD
Notes to the Accounts
for the year ended 31 March 2023
FJ CORPORATION LTD is a private company, limited by shares, registered in England and Wales, registration number 07534238. The registered office is International House, 24 Holborn Viaduct, London, EC1A 2BN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
FJ CORPORATION LTD
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2022
152,401
-
152,401
At 31 March 2023
152,401
88,914
241,315
At 1 April 2022
118,807
-
118,807
Charge for the year
8,345
17,368
25,713
At 31 March 2023
127,152
17,368
144,520
At 31 March 2023
25,249
71,546
96,795
At 31 March 2022
33,594
-
33,594
Fair value at 1 April 2022
15,968,266
Net gain from fair value adjustments
398,500
At 31 March 2023
16,385,000
6
Investments
Subsidiary undertakings
Valuation at 1 April 2022
2,046
Valuation at 31 March 2023
2,046
Amounts falling due within one year
Trade debtors
50,383
15,935
Accrued income and prepayments
18,000
18,000
Other debtors
5,409,225
4,924,839
FJ CORPORATION LTD
Notes to the Accounts
for the year ended 31 March 2023
8
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
193,931
130,000
Obligations under finance leases and hire purchase contracts
7,033
-
Trade creditors
746,271
291,643
Taxes and social security
384,467
441,373
Other creditors
442,353
483,741
Loans from directors
55,351
44
Deferred income
344,266
333,721
9
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
6,174,520
6,385,449
Obligations under finance leases and hire purchase contracts
50,000
-
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).