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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
Page
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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
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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
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KRGJ Properties Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
135 
269 
Investment property
180,000 
173,437 
180,135 
173,706 
Current assets
Debtors
475 
- 
Cash at bank and in hand
1,665 
70,792 
2,140 
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)
Capital and reserves
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
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KRGJ Properties Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
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.
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.
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
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.
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KRGJ Properties Limited Notes to the Accounts for the year ended 31 May 2023
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 June 2022
403 
At 31 May 2023
403 
Depreciation
At 1 June 2022
134 
Charge for the year
134 
At 31 May 2023
268 
Net book value
At 31 May 2023
135 
At 31 May 2022
269 
5
Investment property
2023 
£ 
Fair value at 1 June 2022
173,437 
Additions
46,563 
Net loss from fair value adjustments
(40,000)
At 31 May 2023
180,000 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
475 
- 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Other creditors
34,380 
30,000 
Loans from directors
212,683 
210,124 
Accruals
840 
840 
247,903 
240,964 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
3,725 
4,924 
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.
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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).
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