Registered number
10311509
KJD Investments Ltd
Report and Unaudited Accounts
31 August 2023
Collins
Chartered Accountants
West Midlands
KJD Investments Ltd
Registered number: 10311509
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 3 834,890 834,890
Current assets
Debtors 4 450 433
Cash at bank and in hand 10,752 9,640
11,202 10,073
Creditors: amounts falling due within one year 5 (448,410) (420,532)
Net current liabilities (437,208) (410,459)
Total assets less current liabilities 397,682 424,431
Creditors: amounts falling due after more than one year 6 (200,000) (265,000)
Provisions for liabilities (7,526) (5,720)
Net assets 190,156 153,711
Capital and reserves
Called up share capital 200 200
Profit and loss account 189,956 153,511
Shareholders' funds 190,156 153,711
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.
J H Goodwin
Director
Approved by the board on 4 March 2024
KJD Investments Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
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.
Turnover
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.
Tangible fixed assets
Tangible fixed assets comprise the investment property which is included at open market valuation:
Debtors
Short term debtors are measured at transaction price , less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are also recognised at transaction price net of any transaction costs.
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 2023 2022
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Investment Properties
£
Valuation
At 1 September 2022 834,890
At 31 August 2023 834,890
Depreciation
At 31 August 2023 -
Net book value
At 31 August 2023 834,890
At 31 August 2022 834,890
Freehold land and buildings: 2023 2022
£ £
Historical cost 786,129 786,129
Cumulative depreciation based on historical cost - -
786,129 786,129
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.
4 Debtors 2023 2022
£ £
Prepayments and accrued income 450 433
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 7 -
Corporation tax 8,972 6,831
Other taxes and social security costs 2,919 2,578
Directors loans 421,370 391,370
Accruals and deferred income 15,142 19,753
448,410 420,532
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 200,000 265,000
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 200,000 265,000
The bank loans are secured by a fixed and floating charge over all the company assets.
8 Other information
KJD Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Lodge, Castle Bromwich Hall
Chester Road
Castle Bromwich
West Midlands
B36 9DE
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