Company Registration No. 11346313 (England and Wales)
KRGJ Properties Limited
Unaudited accounts
for the year ended 31 May 2023
KRGJ Properties Limited
Unaudited accounts
Contents
KRGJ Properties Limited
Company Information
for the year ended 31 May 2023
Director
Kulvinder Singh Jandu
Company Number
11346313 (England and Wales)
Registered Office
26 RANELAGH ROAD
WOLVERHAMPTON
WV2 3EJ
ENGLAND
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
KRGJ Properties Limited
Accountants' report
Accountants' report to the director of KRGJ Properties Limited on the preparation of the unaudited statutory accounts for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
KRGJ Properties Limited for the year ended
31 May 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of KRGJ Properties Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of KRGJ Properties Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KRGJ Properties Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that KRGJ Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of KRGJ Properties Limited. You consider that KRGJ Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of KRGJ Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
24 January 2024
KRGJ Properties Limited
Statement of financial position
as at 31 May 2023
Investment property
180,000
173,437
Cash at bank and in hand
1,665
70,792
Creditors: amounts falling due within one year
(247,903)
(240,964)
Net current liabilities
(245,763)
(170,172)
Total assets less current liabilities
(65,628)
3,534
Creditors: amounts falling due after more than one year
(3,725)
(4,924)
Net liabilities
(69,353)
(1,390)
Called up share capital
100
100
Revaluation reserve
(40,000)
-
Profit and loss account
(29,453)
(1,490)
Shareholders' funds
(69,353)
(1,390)
For the year ending 31 May 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 his 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 30 January 2024 and were signed on its behalf by
Kulvinder Singh Jandu
Director
Company Registration No. 11346313
KRGJ Properties Limited
Notes to the Accounts
for the year ended 31 May 2023
KRGJ Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 11346313. The registered office is 26 RANELAGH ROAD, WOLVERHAMPTON, WV2 3EJ, ENGLAND.
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:
Computer equipment
33% on cost
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.
KRGJ Properties Limited
Notes to the Accounts
for the year ended 31 May 2023
4
Tangible fixed assets
Computer equipment
Fair value at 1 June 2022
173,437
Net loss from fair value adjustments
(40,000)
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Other creditors
34,380
30,000
Loans from directors
212,683
210,124
8
Creditors: amounts falling due after more than one year
2023
2022
In June 2020, the company received a Bounce Back Loan of £6,000, which is a 100% UK Government backed loan.
Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government.
After the first 12 months, an interest rate of 2.5% is applicable.
The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
KRGJ Properties Limited
Notes to the Accounts
for the year ended 31 May 2023
9
Transactions with related parties
At the year end, the company owed the Director £212,683 (2022 - £212,323). No interest has been charged (2022 - £1,000).
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).