Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07015226 Mrs Kathryn Baines Miss Catrin Baines Miss Ceri Baines Mr Julian Baines Mr Huw Baines iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07015226 2023-03-31 07015226 2024-03-31 07015226 2023-04-01 2024-03-31 07015226 frs-core:CurrentFinancialInstruments 2024-03-31 07015226 frs-core:FurnitureFittings 2024-03-31 07015226 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07015226 frs-core:FurnitureFittings 2023-03-31 07015226 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 07015226 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 07015226 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 07015226 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 07015226 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07015226 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 07015226 frs-core:RevaluationReserve 2023-04-01 2024-03-31 07015226 frs-core:RevaluationReserve 2024-03-31 07015226 frs-core:ShareCapital 2024-03-31 07015226 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07015226 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07015226 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07015226 frs-bus:SmallEntities 2023-04-01 2024-03-31 07015226 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07015226 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07015226 frs-core:UnlistedNon-exchangeTraded 2024-03-31 07015226 frs-core:UnlistedNon-exchangeTraded 2023-03-31 07015226 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 07015226 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-03-31 07015226 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 07015226 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 07015226 frs-bus:Director1 2023-04-01 2024-03-31 07015226 frs-bus:Director2 2023-04-01 2024-03-31 07015226 frs-bus:Director3 2023-04-01 2024-03-31 07015226 frs-bus:Director4 2023-04-01 2024-03-31 07015226 frs-bus:Director5 2023-04-01 2024-03-31 07015226 frs-bus:Director5 2023-03-31 07015226 frs-bus:Director5 2024-03-31 07015226 frs-countries:EnglandWales 2023-04-01 2024-03-31 07015226 2022-03-31 07015226 2023-03-31 07015226 2022-04-01 2023-03-31 07015226 frs-core:CurrentFinancialInstruments 2023-03-31 07015226 frs-core:RevaluationReserve 2023-03-31 07015226 frs-core:ShareCapital 2023-03-31 07015226 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07015226
J & K (Cardiff) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07015226
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,663,463 1,422,341
1,663,463 1,422,341
CURRENT ASSETS
Cash at bank and in hand 84,685 190,071
84,685 190,071
Creditors: Amounts Falling Due Within One Year 7 (1,489,890 ) (1,495,281 )
NET CURRENT ASSETS (LIABILITIES) (1,405,205 ) (1,305,210 )
TOTAL ASSETS LESS CURRENT LIABILITIES 258,258 117,131
PROVISIONS FOR LIABILITIES
Deferred Taxation (35,367 ) -
NET ASSETS 222,891 117,131
CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 10 106,101 -
Profit and Loss Account 116,690 117,031
SHAREHOLDERS' FUNDS 222,891 117,131
Page 1
Page 2
For the year ending 31 March 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Julian Baines
Director
27/09/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
J & K (Cardiff) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07015226 . The registered office is Ellerslie, Sully Road, Penarth, CF64 2TQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises rent received.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold
Leasehold 4% Straight Line
Fixtures & Fittings 15% Straight Line
2.4. Investment Properties
Freehold investment properties are shown at fair value and the surplus or deficit arising from the change in fair value is recognised in profit and loss.  Leasehold investment properties are shown at cost less amortisation.  Amortisation is charged in equal instalments over 50 years or the remianing length of the lease whichever is lower.
2.5. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Repairs and maintenance
In the absence of a specific intention by the board of either a disposition or substantial reconstruction of letting units in investment properties, all expenditure incurred on general repair, maintenance and upgrade is written off as incurred.  It is the opinion of the board that the nature of the company's property ownership is such that any appreciation in value is due to the passage of time rather than intent to improve as policy and is as such reflected through the revaluation reseve.
2.8. Investments
Investments in unquoted companies are initially stated at cost and are subject to annual impairment reviews.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Land & Property
Freehold Leasehold Fixtures & Fittings Total
£ £ £ £
Cost or Valuation
As at 1 April 2023 1,408,010 21,705 5,478 1,435,193
Additions 71,688 - - 71,688
Revaluation 170,302 - - 170,302
As at 31 March 2024 1,650,000 21,705 5,478 1,677,183
Depreciation
As at 1 April 2023 - 7,380 5,472 12,852
Provided during the period - 868 - 868
As at 31 March 2024 - 8,248 5,472 13,720
Net Book Value
As at 31 March 2024 1,650,000 13,457 6 1,663,463
As at 1 April 2023 1,408,010 14,325 6 1,422,341
The values of the Investment properties were estimated on an open market basis as at 31 March 2024 by the Directors.
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5. Investment Property
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 1,508,532 1,436,844
6. Investments
Unlisted
£
Cost
As at 1 April 2023 50,250
As at 31 March 2024 50,250
Provision
As at 1 April 2023 50,250
As at 31 March 2024 50,250
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax - 6,698
Accruals and deferred income 3,634 3,000
Directors' loan accounts 1,486,256 1,485,583
1,489,890 1,495,281
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5
Page 6
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Huw Baines 1,749 - 1,749 - -
The above loan is unsecured, interest free and repayable on demand.
10. Reserves
Revaluation Reserve
£
Net investment property revaluation reserve 106,101
As at 31 March 2024 106,101
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