Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-313false2022-08-013truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07689826 2022-08-01 2023-07-31 07689826 2023-07-31 07689826 2021-08-01 2022-07-31 07689826 2022-07-31 07689826 2021-08-01 07689826 1 2022-08-01 2023-07-31 07689826 1 2021-08-01 2022-07-31 07689826 4 2022-08-01 2023-07-31 07689826 4 2021-08-01 2022-07-31 07689826 7 2022-08-01 2023-07-31 07689826 7 2021-08-01 2022-07-31 07689826 d:Director1 2022-08-01 2023-07-31 07689826 e:FreeholdInvestmentProperty 2023-07-31 07689826 e:FreeholdInvestmentProperty 2022-07-31 07689826 e:FreeholdInvestmentProperty 2 2022-08-01 2023-07-31 07689826 e:CurrentFinancialInstruments 2023-07-31 07689826 e:CurrentFinancialInstruments 2022-07-31 07689826 e:Non-currentFinancialInstruments 2023-07-31 07689826 e:Non-currentFinancialInstruments 2022-07-31 07689826 e:CurrentFinancialInstruments e:WithinOneYear 2023-07-31 07689826 e:CurrentFinancialInstruments e:WithinOneYear 2022-07-31 07689826 e:Non-currentFinancialInstruments e:AfterOneYear 2023-07-31 07689826 e:Non-currentFinancialInstruments e:AfterOneYear 2022-07-31 07689826 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-07-31 07689826 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2022-07-31 07689826 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-07-31 07689826 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2022-07-31 07689826 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-07-31 07689826 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2022-07-31 07689826 e:ShareCapital 2022-08-01 2023-07-31 07689826 e:ShareCapital 2023-07-31 07689826 e:ShareCapital 2021-08-01 2022-07-31 07689826 e:ShareCapital 2022-07-31 07689826 e:ShareCapital 2021-08-01 07689826 e:InvestmentPropertiesRevaluationReserve 2022-08-01 2023-07-31 07689826 e:InvestmentPropertiesRevaluationReserve 2023-07-31 07689826 e:InvestmentPropertiesRevaluationReserve 1 2022-08-01 2023-07-31 07689826 e:InvestmentPropertiesRevaluationReserve 2021-08-01 2022-07-31 07689826 e:InvestmentPropertiesRevaluationReserve 2022-07-31 07689826 e:InvestmentPropertiesRevaluationReserve 2021-08-01 07689826 e:InvestmentPropertiesRevaluationReserve 1 2021-08-01 2022-07-31 07689826 e:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 07689826 e:RetainedEarningsAccumulatedLosses 2023-07-31 07689826 e:RetainedEarningsAccumulatedLosses 1 2022-08-01 2023-07-31 07689826 e:RetainedEarningsAccumulatedLosses 4 2022-08-01 2023-07-31 07689826 e:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 07689826 e:RetainedEarningsAccumulatedLosses 2022-07-31 07689826 e:RetainedEarningsAccumulatedLosses 2021-08-01 07689826 e:RetainedEarningsAccumulatedLosses 1 2021-08-01 2022-07-31 07689826 e:RetainedEarningsAccumulatedLosses 4 2021-08-01 2022-07-31 07689826 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 07689826 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-07-31 07689826 d:OrdinaryShareClass1 2022-08-01 2023-07-31 07689826 d:OrdinaryShareClass1 2023-07-31 07689826 d:OrdinaryShareClass1 2022-07-31 07689826 d:OrdinaryShareClass2 2022-08-01 2023-07-31 07689826 d:OrdinaryShareClass2 2023-07-31 07689826 d:OrdinaryShareClass2 2022-07-31 07689826 d:OrdinaryShareClass3 2022-08-01 2023-07-31 07689826 d:OrdinaryShareClass3 2023-07-31 07689826 d:OrdinaryShareClass3 2022-07-31 07689826 d:FRS102 2022-08-01 2023-07-31 07689826 d:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 07689826 d:FullAccounts 2022-08-01 2023-07-31 07689826 d:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 07689826 e:OtherDeferredTax 2023-07-31 07689826 e:OtherDeferredTax 2022-07-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07689826


NJJB PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
NJJB PROPERTIES LIMITED
REGISTERED NUMBER: 07689826

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,055,000
2,010,000

  
2,055,000
2,010,000

Current assets
  

Cash at bank and in hand
 5 
23,553
35,094

  
23,553
35,094

Creditors: amounts falling due within one year
 6 
(28,971)
(25,064)

Net current (liabilities)/assets
  
 
 
(5,418)
 
 
10,030

Total assets less current liabilities
  
2,049,582
2,020,030

Creditors: amounts falling due after more than one year
 7 
(1,160,973)
(1,226,982)

Provisions for liabilities
  

Deferred tax
 10 
(56,869)
(123,244)

  
 
 
(56,869)
 
 
(123,244)

Net assets
  
831,740
669,804


Capital and reserves
  

Called up share capital 
 11 
1,000
1,000

Investment property reserve
 12 
240,185
195,185

Profit and loss account
 12 
590,555
473,619

  
831,740
669,804


Page 1

 
NJJB PROPERTIES LIMITED
REGISTERED NUMBER: 07689826
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr N J Benfield
Director
Date: 27 January 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
NJJB PROPERTIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 August 2021
1,000
155,185
520,815
677,000


Comprehensive income for the year

Profit for the year

-
-
81,377
81,377

Deferred tax movements
-
-
(88,573)
(88,573)

Fair value adjustments
-
-
(40,000)
(40,000)

Other movement
-
40,000
-
40,000


Other comprehensive income for the year
-
40,000
(128,573)
(88,573)


Total comprehensive income for the year
-
40,000
(47,196)
(7,196)


Total transactions with owners
-
-
-
-



At 1 August 2022
1,000
195,185
473,619
669,804


Comprehensive income for the year

Profit for the year

-
-
95,561
95,561

Deferred tax movements
-
-
66,375
66,375

Fair value adjustments
-
-
(45,000)
(45,000)

Other movement
-
45,000
-
45,000


Other comprehensive income for the year
-
45,000
21,375
66,375


Total comprehensive income for the year
-
45,000
116,936
161,936


At 31 July 2023
1,000
240,185
590,555
831,740


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
NJJB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

NJJB Properties Limited is a private company limited by share capital, incorporated in England and Wales, registration number 07689826. The address of the registered office is 8 King Edward Street, Oxford, OX1 4HL.
The principal place of business is:-
NJJB Properties Limited
7 Home Farm Close
Shipton-under-Wychwood
Chipping Norton
Oxfordshire
OX7 6EH

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
NJJB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
NJJB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
NJJB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2022
2,010,000


Surplus on revaluation
45,000



At 31 July 2023
2,055,000

The 2023 valuations were made by Mr N Benfield, a director of the company, on an open market value for existing use basis.

2023
2022
£
£

Revaluation reserves


At 1 August 2022
195,185
155,185

Net surplus/(deficit) in movement properties
45,000
40,000

At 31 July 2023
240,185
195,185



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
-
1,601,274

-
1,601,274

Page 7

 
NJJB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
23,553
35,094

23,553
35,094



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
13,509
12,669

Corporation tax
12,261
9,706

Accruals and deferred income
3,201
2,689

28,971
25,064



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
81,698
91,091

Other creditors
1,079,275
1,135,891

1,160,973
1,226,982


The following liabilities were secured:

2023
2022
£
£



Bank loan
94,955
103,760

94,955
103,760

Details of security provided:

Loan secured against 46 Harvest Way, Witney, Oxfordshire.

Page 8

 
NJJB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
13,509
12,669


13,509
12,669

Amounts falling due 1-2 years

Bank loans
13,509
12,669


13,509
12,669

Amounts falling due 2-5 years

Bank loans
40,527
38,006


40,527
38,006

Amounts falling due after more than 5 years

Bank loans
27,662
40,416

27,662
40,416

95,207
103,760



9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
23,553
-




Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.

Page 9

 
NJJB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

10.


Deferred taxation




2023
2022


£

£






At beginning of year
(123,244)
(34,671)


Charged to profit or loss
66,375
(88,573)



At end of year
(56,869)
(123,244)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Unrealised capital gains
(56,869)
(123,244)

(56,869)
(123,244)


11.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



332 (2022 - 332) A Ordinary shares of £1.00 each
332
332
400 (2022 - 400) B Ordinary shares of £1.00 each
400
400
268 (2022 - 268) C Ordinary shares of £1.00 each
268
268

1,000

1,000



12.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve is detailed in Note 4 and is not available for distribution to shareholders.

Page 10

 
NJJB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

13.


Related party transactions

Within Creditors due after one year is an amount of £679,275 (2021: £1,135,891) due to Mr Nigel Benfield a director of the company.
Within Creditors due after one year is an amount of £200,000 (2021: £Nil) due to Mr Julian Benfield a director of the company.
Within Creditors due after one year is an amount of £200,000 (2021: £Nil) due to Mr Jason Benfield a director of the company.
The directors loans are interest free and there is no fixed date of repayment.

 
Page 11