Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseletting and operating of own or leased estate22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12502663 2022-04-01 2023-03-31 12502663 2021-04-01 2022-03-31 12502663 2023-03-31 12502663 2022-03-31 12502663 c:Director1 2022-04-01 2023-03-31 12502663 d:FreeholdInvestmentProperty 2023-03-31 12502663 d:FreeholdInvestmentProperty 2022-03-31 12502663 d:CurrentFinancialInstruments 2023-03-31 12502663 d:CurrentFinancialInstruments 2022-03-31 12502663 d:Non-currentFinancialInstruments 2023-03-31 12502663 d:Non-currentFinancialInstruments 2022-03-31 12502663 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12502663 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12502663 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12502663 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 12502663 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 12502663 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 12502663 d:ShareCapital 2023-03-31 12502663 d:ShareCapital 2022-03-31 12502663 d:SharePremium 2023-03-31 12502663 d:SharePremium 2022-03-31 12502663 d:RetainedEarningsAccumulatedLosses 2023-03-31 12502663 d:RetainedEarningsAccumulatedLosses 2022-03-31 12502663 c:OrdinaryShareClass1 2022-04-01 2023-03-31 12502663 c:OrdinaryShareClass1 2023-03-31 12502663 c:OrdinaryShareClass1 2022-03-31 12502663 c:OrdinaryShareClass2 2022-04-01 2023-03-31 12502663 c:OrdinaryShareClass2 2023-03-31 12502663 c:OrdinaryShareClass2 2022-03-31 12502663 c:FRS102 2022-04-01 2023-03-31 12502663 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12502663 c:FullAccounts 2022-04-01 2023-03-31 12502663 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12502663 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12502663









JAKAD LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
JAKAD LIMITED
REGISTERED NUMBER: 12502663

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
                                                                     Note
£
£

Fixed assets
  

Investment property
 4 
4,255,513
4,255,513

  
4,255,513
4,255,513

Current assets
  

Cash at bank and in hand
 5 
135,722
75,603

  
135,722
75,603

Creditors: amounts falling due within one year
 6 
(894,789)
(835,503)

Net current liabilities
  
 
 
(759,067)
 
 
(759,900)

Total assets less current liabilities
  
3,496,446
3,495,613

Creditors: amounts falling due after more than one year
 7 
(2,561,694)
(2,561,694)

  

Net assets
  
934,752
933,919


Capital and reserves
  

Called up share capital 
 9 
200
200

Share premium account
  
925,815
925,815

Profit and loss account
  
8,737
7,904

  
934,752
933,919


Page 1

 
JAKAD LIMITED
REGISTERED NUMBER: 12502663
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 March 2024.




B Jhatakia
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
JAKAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Jakad Ltd ("the Company") is a private company limited by shares, incorporated in England and Wales. Its
registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.
The principal activity of the company during the period was that of letting and operating of own or leased
real estate.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rental income
Rental income from operating leases is recognised on straight line basis over the term of the lease.

 
2.3

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.5

Taxation

Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 3

 
JAKAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
JAKAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Investment property


Investment properties

£



Valuation


At 1 April 2022
4,255,513



At 31 March 2023
4,255,513

The 2023 valuations were made by directors, on an open market value for existing use basis.




2023
2022
£
£


Historic cost
4,255,513
4,255,513


5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
135,722
75,603

135,722
75,603



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,090
-

Corporation tax
7,749
3,151

Other creditors
864,503
829,352

Accruals and deferred income
19,447
3,000

894,789
835,503


Page 5

 
JAKAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
2,561,694
2,561,694

2,561,694
2,561,694


The following liabilities were secured:

2023
2022
£
£



Bank loans
2,561,694
2,561,694

2,561,694
2,561,694

Details of security provided:

Bank loans are secured on the investment properties in the company.


8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
2,561,694
2,561,694



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



136 (2022 - 136) Ordinary A shares of £1.00 each
136
136
64 (2022 - 64) Ordinary B shares of £1.00 each
64
64

200

200


Page 6

 
JAKAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Related party transactions

Included within other creditors due within one year is an amount of £864,503 (2022: £829,352) due to the directors of the company.

 
Page 7