Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3112023-04-01falseletting and operating of own or leased real estate1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13232200 2023-04-01 2024-03-31 13232200 2022-04-01 2023-03-31 13232200 2024-03-31 13232200 2023-03-31 13232200 2022-04-01 13232200 2 2023-04-01 2024-03-31 13232200 2 2022-04-01 2023-03-31 13232200 d:Director1 2023-04-01 2024-03-31 13232200 e:FreeholdInvestmentProperty 2024-03-31 13232200 e:FreeholdInvestmentProperty 2023-03-31 13232200 e:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 13232200 e:CurrentFinancialInstruments 2024-03-31 13232200 e:CurrentFinancialInstruments 2023-03-31 13232200 e:Non-currentFinancialInstruments 2024-03-31 13232200 e:Non-currentFinancialInstruments 2023-03-31 13232200 e:CurrentFinancialInstruments e:WithinOneYear 2024-03-31 13232200 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 13232200 e:Non-currentFinancialInstruments e:AfterOneYear 2024-03-31 13232200 e:Non-currentFinancialInstruments e:AfterOneYear 2023-03-31 13232200 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2024-03-31 13232200 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-03-31 13232200 e:ShareCapital 2023-04-01 2024-03-31 13232200 e:ShareCapital 2024-03-31 13232200 e:ShareCapital 2022-04-01 2023-03-31 13232200 e:ShareCapital 2023-03-31 13232200 e:ShareCapital 2022-04-01 13232200 e:SharePremium 2023-04-01 2024-03-31 13232200 e:SharePremium 2024-03-31 13232200 e:SharePremium 2 2023-04-01 2024-03-31 13232200 e:SharePremium 2022-04-01 2023-03-31 13232200 e:SharePremium 2023-03-31 13232200 e:SharePremium 2022-04-01 13232200 e:SharePremium 2 2022-04-01 2023-03-31 13232200 e:InvestmentPropertiesRevaluationReserve 2023-04-01 2024-03-31 13232200 e:InvestmentPropertiesRevaluationReserve 2024-03-31 13232200 e:InvestmentPropertiesRevaluationReserve 2 2023-04-01 2024-03-31 13232200 e:InvestmentPropertiesRevaluationReserve 2022-04-01 2023-03-31 13232200 e:InvestmentPropertiesRevaluationReserve 2023-03-31 13232200 e:InvestmentPropertiesRevaluationReserve 2022-04-01 13232200 e:InvestmentPropertiesRevaluationReserve 2 2022-04-01 2023-03-31 13232200 e:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 13232200 e:RetainedEarningsAccumulatedLosses 2024-03-31 13232200 e:RetainedEarningsAccumulatedLosses 2 2023-04-01 2024-03-31 13232200 e:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 13232200 e:RetainedEarningsAccumulatedLosses 2023-03-31 13232200 e:RetainedEarningsAccumulatedLosses 2022-04-01 13232200 e:RetainedEarningsAccumulatedLosses 2 2022-04-01 2023-03-31 13232200 e:AcceleratedTaxDepreciationDeferredTax 2024-03-31 13232200 e:AcceleratedTaxDepreciationDeferredTax 2023-03-31 13232200 d:OrdinaryShareClass1 2023-04-01 2024-03-31 13232200 d:OrdinaryShareClass1 2024-03-31 13232200 d:FRS102 2023-04-01 2024-03-31 13232200 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13232200 d:FullAccounts 2023-04-01 2024-03-31 13232200 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13232200 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13232200









LJ & G PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
LJ & G PROPERTY LIMITED
REGISTERED NUMBER: 13232200

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
3,195,000
3,270,000

Current assets
  

Cash at bank and in hand
 5 
391
2,991

  
391
2,991

Creditors: amounts falling due within one year
 6 
(151,466)
(163,444)

Net current liabilities
  
 
 
(151,075)
 
 
(160,453)

Total assets less current liabilities
  
3,043,925
3,109,547

Creditors: amounts falling due after more than one year
 7 
(1,644,186)
(1,644,186)

Provisions for liabilities
  

Deferred tax
 9 
(70,000)
(88,750)

Net assets
  
1,329,739
1,376,611


Capital and reserves
  

Called up share capital 
 10 
10,000
10,000

Share premium account
  
1,107,891
1,107,891

Investment property reserve
  
210,000
266,250

Profit and loss account
  
1,848
(7,530)

  
1,329,739
1,376,611


Page 1

 
LJ & G PROPERTY LIMITED
REGISTERED NUMBER: 13232200
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 6 August 2024.




G Cocks
Director

The notes on pages 5 to 9 form part of these financial statements.

Page 2

 
LJ & G PROPERTY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Share premium account
Investment property reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 April 2023
10,000
1,107,891
266,250
(7,530)
1,376,611


Comprehensive income for the year

Loss for the year
-
-
-
(46,872)
(46,872)
Total comprehensive income for the year
-
-
-
(46,872)
(46,872)

Transfer of fair value adjustments net of deferred tax
-
-
(56,250)
56,250
-


Total transactions with owners
-
-
(56,250)
56,250
-


At 31 March 2024
10,000
1,107,891
210,000
1,848
1,329,739


The notes on pages 5 to 9 form part of these financial statements.

Page 3

 
LJ & G PROPERTY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Share premium account
Investment property reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 April 2022
10,000
1,107,891
236,250
3,425
1,357,566


Comprehensive income for the year

Profit for the year
-
-
-
19,045
19,045

Transfer of fair value adjustment net of deferred tax
-
-
30,000
(30,000)
-


Total transactions with owners
-
-
30,000
(30,000)
-


At 31 March 2023
10,000
1,107,891
266,250
(7,530)
1,376,611


The notes on pages 5 to 9 form part of these financial statements.

Page 4

 
LJ & G PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

LJ & G Property Limited is a company limited by shares incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, United Kingdom, UB8 2FX.
The company specialises in 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements are prepared on a going concern basis, notwithstanding the Statement of financial position showing net current liabilities of £151,075 (2023 - £160,453) The director notes that the company is trading adequately and the loan in other creditors of £151,130 is due to the director who has confirmed that the loan will only be called to be repaid when the company has the available resources to do so. The director therefore is able to confirm that the company has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date of approval of these accounts. As such, the director believes that there are no significant uncertainties in his assessment of whether the business is a going concern and therefore has prepared the accounts on a going concern basis.

 
2.3

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 5

 
LJ & G PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

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.

 
2.8

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.

Page 6

 
LJ & G PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
3,270,000


Fair value adjustment
(75,000)



At 31 March 2024
3,195,000

The 2024 valuations were made by the director, on an open market value for existing use basis.




5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
391
2,991

391
2,991


Page 7

 
LJ & G PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
336
-

Other creditors
151,130
163,444

151,466
163,444



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,644,186
1,644,186

1,644,186
1,644,186



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
1,644,186
1,644,186


Page 8

 
LJ & G PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
88,750
78,750


(Credited) / charged to the Statement of comprehensive income
(18,750)
10,000



At end of year
70,000
88,750

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Potential capital gain on property disposal
70,000
88,750

70,000
88,750


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,000 Ordinary shares of £1 each
10,000
10,000



11.


Related party transactions

Included within other creditors is a loan of £151,130 (2023 - £163,444) due to the director. During the year, interest of £700 (2023 - £104) was charged on this loan. 


12.


Controlling party

The ultimate controlling party is  the director, G Cocks, by virtue of his majority shareholding.

 
Page 9