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Company Registration No. 10914899 (England and Wales)
KJ & CJ Properties Limited Unaudited accounts for the year ended 31 March 2023
KJ & CJ Properties Limited Unaudited accounts Contents
Page
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KJ & CJ Properties Limited Company Information for the year ended 31 March 2023
Directors
Mr Kevin Williams Mrs Janice Williams
Company Number
10914899 (England and Wales)
Registered Office
314 Main Road Parson Drove Wisbech Cambridgeshire PE13 4LF
Accountants
ABLM Associates 1 Werrington Mews Church Street, Werrington Peterborough Cambridgeshire PE4 6GJ
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KJ & CJ Properties Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,706 
11,181 
Investment property
1,413,502 
1,413,502 
1,419,208 
1,424,683 
Current assets
Debtors
4,704 
4,317 
Cash at bank and in hand
3,856 
1,745 
8,560 
6,062 
Creditors: amounts falling due within one year
(58,569)
(58,850)
Net current liabilities
(50,009)
(52,788)
Total assets less current liabilities
1,369,199 
1,371,895 
Creditors: amounts falling due after more than one year
(383,928)
(387,618)
Net assets
985,271 
984,277 
Capital and reserves
Called up share capital
968,018 
968,018 
Profit and loss account
17,253 
16,259 
Shareholders' funds
985,271 
984,277 
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 directors acknowledge their 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 of Directors and authorised for issue on 23 December 2023 and were signed on its behalf by
Mr Kevin Williams Director Company Registration No. 10914899
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KJ & CJ Properties Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
KJ & CJ Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 10914899. The registered office is 314 Main Road, Parson Drove, Wisbech, Cambridgeshire, PE13 4LF.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property
Investment property is carried at fair value determined annually by the directors 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 the Statement of comprehensive income.
Tangible fixed assets and depreciation
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:
Motor vehicles
25% reducing balance
Computer equipment
25% straight line
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.
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KJ & CJ Properties Limited Notes to the Accounts for the year ended 31 March 2023
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.
Pension costs
Contributions to defined contribution plans are expensed in the period to which they relate.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
19,049 
2,912 
21,961 
At 31 March 2023
19,049 
2,912 
21,961 
Depreciation
At 1 April 2022
9,524 
1,256 
10,780 
Charge for the year
4,763 
712 
5,475 
At 31 March 2023
14,287 
1,968 
16,255 
Net book value
At 31 March 2023
4,762 
944 
5,706 
At 31 March 2022
9,525 
1,656 
11,181 
5
Investment property
2023 
£ 
Fair value at 1 April 2022
1,413,502 
At 31 March 2023
1,413,502 
The 2022 valuations were made by the directors, on an open market value for existing use basis.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
2,424 
2,155 
Accrued income and prepayments
2,280 
2,162 
4,704 
4,317 
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KJ & CJ Properties Limited Notes to the Accounts for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
4,810 
Taxes and social security
2,561 
2,485 
Other creditors
1,875 
1,463 
Loans from directors
54,133 
50,092 
58,569 
58,850 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
383,928 
387,618 
Bank loans falling due after more than one year totalling £387,598 (2021: £392,449) are secured by the company.
9
Transactions with related parties
During the year, transactions took place with a director. At the year end £54,133 (2022: £50,092) was owed to the director. This amount is shown within other creditors. The loan is interest free and repayable on demand.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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