Registered number
05845020
KJT Developments Limited
Unaudited Filleted Accounts
31 December 2023
KJT Developments Limited
Registered number: 05845020
Balance Sheet
as at 31 December 2023
Notes 31/12/23 30/6/23
£ £
Fixed assets
Intangible assets 3 - 9,000
Tangible assets 4 - 12,941
- 21,941
Current assets
Debtors 5 23,787 54,699
Cash at bank and in hand 9,760 41,382
33,547 96,081
Creditors: amounts falling due within one year 6 (1,600) (25,848)
Net current assets 31,947 70,233
Net assets 31,947 92,174
Capital and reserves
Called up share capital 1 40,000
Profit and loss account 31,946 52,174
Shareholder's funds 31,947 92,174
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K T E Bolton
Director
Approved by the board on 11 March 2024
KJT Developments Limited
Notes to the Accounts
for the period from 1 July 2023 to 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 31/12/23 30/6/23
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 60,000
At 31 December 2023 60,000
Amortisation
At 1 July 2023 51,000
Provided during the period 9,000
At 31 December 2023 60,000
Net book value
At 31 December 2023 -
At 30 June 2023 9,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 6,613 25,653 32,266
Disposals - (25,653) (25,653)
At 31 December 2023 6,613 - 6,613
Depreciation
At 1 July 2023 6,498 12,827 19,325
Charge for the period 115 - 115
On disposals - (12,827) (12,827)
At 31 December 2023 6,613 - 6,613
Net book value
At 31 December 2023 - - -
At 30 June 2023 115 12,826 12,941
5 Debtors 31/12/23 30/6/23
£ £
Other debtors 23,787 54,699
6 Creditors: amounts falling due within one year 31/12/23 30/6/23
£ £
Trade creditors - 428
Taxation and social security costs 850 5,080
Other creditors 750 20,340
1,600 25,848
7 Other information
KJT Developments Limited is a private company limited by shares and incorporated in England. Its registered office is:
33 Fortunes Way
Bedhampton
Havant
Hampshire
PO9 3LX
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