Company Registration No. 12169115 (England and Wales)
KJB Asset Holdings Ltd
Unaudited accounts
for the year ended 31 August 2023
KJB Asset Holdings Ltd
Unaudited accounts
Contents
KJB Asset Holdings Ltd
Statement of financial position
as at 31 August 2023
Tangible assets
216,725
146,901
Cash at bank and in hand
5,528
5,595
Creditors: amounts falling due within one year
(239,916)
(233,073)
Net current liabilities
(126,484)
(97,677)
Total assets less current liabilities
90,241
49,224
Creditors: amounts falling due after more than one year
(22,533)
(32,420)
Provisions for liabilities
Called up share capital
120
120
Revaluation reserve
18,118
-
Profit and loss account
43,103
16,274
Shareholders' funds
61,341
16,394
For the year ending 31 August 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 2 August 2024 and were signed on its behalf by
Lisa Cherie Simmonds
Director
Company Registration No. 12169115
KJB Asset Holdings Ltd
Notes to the Accounts
for the year ended 31 August 2023
KJB Asset Holdings Ltd is a private company, limited by shares, registered in England and Wales, registration number 12169115. The registered office is 24 Red Lion Lane, Norton Canes , CANNOCK, Staffordshire, WS11 9QP, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
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:
Land & buildings
2% on cost on buildings only
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
KJB Asset Holdings Ltd
Notes to the Accounts
for the year ended 31 August 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At valuation
At cost
At cost
At 1 September 2022
145,866
2,624
458
148,948
Additions
46,730
-
-
46,730
Revaluations
22,404
-
-
22,404
At 31 August 2023
215,000
2,624
458
218,082
At 1 September 2022
1,122
771
154
2,047
Charge for the year
631
371
61
1,063
Surplus on revaluation
(1,753)
-
-
(1,753)
At 31 August 2023
-
1,142
215
1,357
At 31 August 2023
215,000
1,482
243
216,725
At 31 August 2022
144,744
1,853
304
146,901
Carrying amount of land and buildings on cost basis
192,596
145,866
The Freehold Land and Building, including the Fishery Lake, were valued at £215,000 by the directors on 31st August 2023.
Amounts falling due within one year
Trade debtors
107,904
114,801
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
9,990
10,092
Trade creditors
18,332
4,319
Taxes and social security
15,898
4,404
Loans from directors
179,203
210,605
7
Creditors: amounts falling due after more than one year
2023
2022
The bank loan is repayable within five years.
KJB Asset Holdings Ltd
Notes to the Accounts
for the year ended 31 August 2023
8
Average number of employees
During the year the average number of employees was 3 (2022: 2).