IJK Limited
Registered number: 04373186
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 460,340 594,840
Current assets
Debtors 4 292 292
Deposit 131,138 7,112
Cash at bank and in hand 1,030 1,297
132,460 8,701
Creditors: amounts falling due within one year 5 (12,989) (15,121)
Net current assets/(liabilities) 119,471 (6,420)
Total assets less current liabilities 579,811 588,420
Creditors: amounts falling due after more than one year 6 (489,150) (497,577)
Net assets 90,661 90,843
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 1,406 1,406
Profit and loss account 89,155 89,337
Shareholder's funds 90,661 90,843
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Kuldip Singh Gujral
Director
Approved by the board on 9 April 2024
IJK Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
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:
Fixtures, fittings, tools and equipment 25% per annum Reducing Balance
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 -
3 Tangible fixed assets
Freehold Properties Fixtures & Equipment Leasehold Properties Total
£ £ £ £
Cost
At 1 August 2022 514,490 747 80,340 595,577
Surplus on revaluation (160) - - (160)
Disposals (134,340) - - (134,340)
At 31 July 2023 379,990 747 80,340 461,077
Depreciation
At 1 August 2022 - 737 - 737
At 31 July 2023 - 737 - 737
Net book value
At 31 July 2023 379,990 10 80,340 460,340
At 31 July 2022 514,490 10 80,340 594,840
4 Debtors 2023 2022
£ £
Other debtors 292 292
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,174 10,174
Corporation tax 895 1,107
Accruals 1,920 3,840
12,989 15,121
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 274,004 274,004
Directors Loan Account 212,624 221,051
Other creditors 2,522 2,522
489,150 497,577
7 Revaluation reserve 2023 2022
£ £
At 1 August 2022 1,406 -
Gain on revaluation of land and buildings - 1,406
At 31 July 2023 1,406 1,406
8 Other information
IJK Limited is a private company limited by shares and incorporated in England. Its registered office is:
70 Slade Road
Sutton Coldfield
West Midlands
B75 5PG
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