KJD Investments Ltd |
Registered number: |
10311509 |
Balance Sheet |
as at 31 August 2023 |
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Notes |
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2023 |
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2022 |
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£ |
£ |
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£ |
£ |
Fixed assets |
Tangible assets |
3 |
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834,890 |
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834,890 |
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Current assets |
Debtors |
4 |
|
450 |
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|
433 |
Cash at bank and in hand |
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10,752 |
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9,640 |
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11,202 |
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10,073 |
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Creditors: amounts falling due within one year |
5 |
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(448,410) |
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(420,532) |
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Net current liabilities |
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(437,208) |
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(410,459) |
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Total assets less current liabilities |
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397,682 |
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424,431 |
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Creditors: amounts falling due after more than one year |
6 |
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(200,000) |
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(265,000) |
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Provisions for liabilities |
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(7,526) |
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(5,720) |
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Net assets |
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190,156 |
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153,711 |
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Capital and reserves |
Called up share capital |
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|
200 |
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|
200 |
Profit and loss account |
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189,956 |
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153,511 |
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Shareholders' funds |
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190,156 |
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153,711 |
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their 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. |
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J H Goodwin |
Director |
Approved by the board on 4 March 2024 |
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KJD Investments Ltd |
Notes to the Accounts |
for the year ended 31 August 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102 ( as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
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Turnover |
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Turnover is measured at the fair value of the consideration receivable, net of value added taxes. Turnover comprises revenue earned from rental income in respect of the investment property. |
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Tangible fixed assets |
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Tangible fixed assets comprise the investment property which is included at open market valuation: |
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Debtors |
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Short term debtors are measured at transaction price , less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price. Loans and other financial liabilities are also recognised at transaction price net of any transaction costs. |
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Taxation |
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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. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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3 |
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3 |
Tangible fixed assets |
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Investment Properties |
£ |
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Valuation |
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At 1 September 2022 |
834,890 |
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At 31 August 2023 |
834,890 |
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Depreciation |
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At 31 August 2023 |
- |
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Net book value |
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At 31 August 2023 |
834,890 |
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At 31 August 2022 |
834,890 |
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Freehold land and buildings: |
2023 |
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2022 |
£ |
£ |
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Historical cost |
786,129 |
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786,129 |
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Cumulative depreciation based on historical cost |
- |
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- |
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786,129 |
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786,129 |
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Investment property at an original cost of £518,239 was revalued on an open market basis in August 2019 by Underwood Wright Chartered Surveyors. A second Investment Property was acquired during the year to August 2022 and it's acquisition price is considered to be fair value. |
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4 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Prepayments and accrued income |
|
450 |
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433 |
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5 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Trade creditors |
7 |
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- |
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Corporation tax |
8,972 |
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6,831 |
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Other taxes and social security costs |
2,919 |
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2,578 |
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Directors loans |
421,370 |
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391,370 |
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Accruals and deferred income |
15,142 |
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19,753 |
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448,410 |
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420,532 |
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6 |
Creditors: amounts falling due after one year |
2023 |
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2022 |
£ |
£ |
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Bank loans |
200,000 |
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265,000 |
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7 |
Loans |
2023 |
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2022 |
£ |
£ |
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Creditors include: |
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Secured bank loans |
200,000 |
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265,000 |
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The bank loans are secured by a fixed and floating charge over all the company assets. |
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8 |
Other information |
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KJD Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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The Lodge, Castle Bromwich Hall |
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Chester Road |
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Castle Bromwich |
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West Midlands |
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B36 9DE |