1 June 2023 v2024.43.2 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP119836772023-06-012024-05-31119836772024-05-31119836772023-05-3111983677core:WithinOneYear2024-05-3111983677core:WithinOneYear2023-05-3111983677core:AfterOneYear2024-05-3111983677core:AfterOneYear2023-05-3111983677core:ShareCapital2024-05-3111983677core:ShareCapital2023-05-3111983677core:RetainedEarningsAccumulatedLosses2024-05-3111983677core:RetainedEarningsAccumulatedLosses2023-05-3111983677bus:Director12023-06-012024-05-3111983677bus:Director22023-06-012024-05-3111983677bus:RegisteredOffice2023-06-012024-05-3111983677core:OfficeEquipment2023-06-012024-05-31119836772022-06-012023-05-3111983677core:LandBuildings2024-05-3111983677core:PlantMachinery2024-05-3111983677core:PlantMachinery2023-06-01119836772023-06-0111983677core:PlantMachinery2023-06-012024-05-3111983677core:LandBuildings2023-05-3111983677core:PlantMachinery2023-05-3111983677core:CostValuation2023-06-0111983677core:CostValuation2024-05-311198367712023-06-012024-05-3111983677countries:EnglandWales2023-06-012024-05-3111983677bus:AuditExemptWithAccountantsReport2023-06-012024-05-3111983677bus:PrivateLimitedCompanyLtd2023-06-012024-05-3111983677bus:SmallEntities2023-06-012024-05-3111983677bus:FullAccounts2023-06-012024-05-31
Company registration number:
11983677
Jkj Property Ltd
Unaudited Filleted Financial Statements for the year ended
31 May 2024
Jkj Property Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Jkj Property Ltd
Year ended
31 May 2024
As described on the statement of financial position, the Board of Directors of
Jkj Property Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 May 2024
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Atkinson Accounts
Egerton House
55 Hoole Road
Chester
CH2 3NJ
United Kingdom
Jkj Property Ltd
Statement of Financial Position
31 May 2024
20242023
Note££
Fixed assets    
Tangible assets 5
200,555
 
200,740
 
Investments 6
1
 
1
 
200,556
 
200,741
 
Current assets    
Stocks
2,122
 
1,887
 
Debtors 7
150
 
150
 
Cash at bank and in hand
193
 
1,986
 
2,465
 
4,023
 
Creditors: amounts falling due within one year 8
(3,871
)
(1,935
)
Net current (liabilities)/assets
(1,406
)
2,088
 
Total assets less current liabilities 199,150   202,829  
Creditors: amounts falling due after more than one year 9
(171,400
)
(175,300
)
Provisions for liabilities -  
(140
)
Net assets
27,750
 
27,389
 
Capital and reserves    
Called up share capital
200
 
200
 
Profit and loss account
27,550
 
27,189
 
Shareholders funds
27,750
 
27,389
 
For the year ending
31 May 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
24 September 2024
, and are signed on behalf of the board by:
J Edwards
K Mclaughlin
DirectorDirector
Company registration number:
11983677
Jkj Property Ltd
Notes to the Financial Statements
Year ended
31 May 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
1 Laurel Grove
,
Hoole
,
Chester
,
CH2 3HU
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
33% straight line

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 June 2023
and
31 May 2024
200,000
 
2,015
 
202,015
 
Depreciation      
At
1 June 2023
-  
1,275
 
1,275
 
Charge -  
185
 
185
 
At
31 May 2024
-  
1,460
 
1,460
 
Carrying amount      
At
31 May 2024
200,000
 
555
 
200,555
 
At 31 May 2023
200,000
 
740
 
200,740
 

Investment property

Included in land and buildings are the following amounts in relation to investment properties:
2024
£
Carrying value at
1 June 2023
and
31 May 2024
200,000
 

6 Investments

Other investments other than loans
£
Cost  
At
1 June 2023
1
 
At
31 May 2024
1
 
Impairment  
At
1 June 2023
and
31 May 2024
-  
Carrying amount  
At
31 May 2024
1
 
At 31 May 2023
1
 

7 Debtors

20242023
££
Other debtors
150
 
150
 

8 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts -  
676
 
Trade creditors -  
797
 
Taxation and social security
330
  -  
Other creditors
3,541
 
462
 
3,871
 
1,935
 

9 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
118,175
 
118,175
 
Other creditors
53,225
 
57,125
 
171,400
 
175,300