REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Joppa Books Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Joppa Books Ltd |
Joppa Books Ltd (Registered number: 02329946) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Joppa Books Ltd |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
35 Station Approach |
West Byfleet |
Surrey |
KT14 6NF |
Joppa Books Ltd (Registered number: 02329946) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium | 9 |
Fair value reserve | 9 |
Retained earnings | 9 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Joppa Books Ltd (Registered number: 02329946) |
Balance Sheet - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Joppa Books Ltd (Registered number: 02329946) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Joppa Books Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The director expects that the next twelve months will generate positive cash flows and has therefore continued to adopt the going concern basis of preparing the financial statements. |
Turnover |
Turnover represents gross rental income receivable. |
Tangible fixed assets |
Plant and machinery | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Depreciation is not provided on the investment property. This treatment may be a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, the property is not held for consumption but for investment and the director considers that systematic annual depreciation would not be inappropriate.The accounting policy adopted is therefore necessary for the accounts to give a true and fair view. Depreciation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Joppa Books Ltd (Registered number: 02329946) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Revaluations | 172,000 |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Included in fair value of investment property is freehold land of £ 512,000 (2023 - £ 340,000 ) which is not depreciated. |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2011 | 106,384 |
Valuation in 2012 | 176,616 |
Valuation in 2014 | 47,000 |
Valuation in 2015 | 39,950 |
Valuation in 2017 | 15,050 |
Valuation in 2019 | 5,000 |
Valuation in 2022 | (50,000 | ) |
Valuation in 2024 | 172,000 |
512,000 |
If the Investment Property had not been revalued it would have been included at the following historical cost: |
31.3.24 | 31.3.23 |
£ | £ |
Cost | 106,384 | 106,384 |
The investment property was valued on an open market basis on 31 March 2024 by the director . |
Joppa Books Ltd (Registered number: 02329946) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other creditors |
9. | RESERVES |
Fair |
Retained | Share | value |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
At 1 April 2023 | ( |
) | 60,217 |
Deficit for the year | ( |
) | - | - | ( |
) |
Revaluation | - | - | 114,983 | 114,983 |
At 31 March 2024 | ( |
) | 162,919 |
10. | RELATED PARTY DISCLOSURES |
Total due to the N El Issa at the balance sheet date was £21,283 (2023 £51,283). Of the total loan to the company, £16,000 is classified as long term and will be repaid when the property is sold. |
Total due to Y B Samaha at the balance sheet date was £31,689 (2023 £6,957) |
Both loans are unsecured and interest-free |
11. | ULTIMATE CONTROLLING PARTY |
Mr Y B Samaha, the majority shareholder, is the ultimate controlling party. |