Jiva and Hussain Properties Ltd |
Registered number: |
09970511 |
Balance Sheet |
as at 31 January 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
- |
|
|
302 |
Investments |
4 |
|
|
1,440,000 |
|
|
1,370,000 |
|
|
|
|
1,440,000 |
|
|
1,370,302 |
|
Current assets |
Debtors |
5 |
|
2,776 |
|
|
2,590 |
Cash at bank and in hand |
|
|
4,033 |
|
|
8,840 |
|
|
|
6,809 |
|
|
11,430 |
|
Creditors: amounts falling due within one year |
6 |
|
(587,614) |
|
|
(574,507) |
|
Net current liabilities |
|
|
|
(580,805) |
|
|
(563,077) |
|
Total assets less current liabilities |
|
|
|
859,195 |
|
|
807,225 |
|
Creditors: amounts falling due after more than one year |
7 |
|
|
(709,726) |
|
|
(738,748) |
|
Provisions for liabilities |
|
|
|
(35,170) |
|
|
(17,746) |
|
|
Net assets |
|
|
|
114,299 |
|
|
50,731 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
10 |
|
|
10 |
Revaluation reserve |
9 |
|
|
105,511 |
|
|
53,011 |
Profit and loss account |
|
|
|
8,778 |
|
|
(2,290) |
|
Shareholders' funds |
|
|
|
114,299 |
|
|
50,731 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Mr Mohamed Taiyeb Jiva |
Director |
Approved by the board on 21 October 2024 |
|
Jiva and Hussain Properties Ltd |
Notes to the Accounts |
for the year ended 31 January 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents rent charged to tenants. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Fixtures, fittings, tools and equipment |
over 4 years |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 February 2023 |
7,116 |
|
At 31 January 2024 |
7,116 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 February 2023 |
6,814 |
|
Charge for the year |
302 |
|
At 31 January 2024 |
7,116 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2024 |
- |
|
At 31 January 2023 |
302 |
|
|
4 |
Investments |
|
Other |
investments |
£ |
|
Cost |
|
At 1 February 2023 |
1,370,000 |
|
Revaluation |
70,000 |
|
|
At 31 January 2024 |
1,440,000 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 February 2023 |
1,299,319 |
|
At 31 January 2024 |
1,299,319 |
|
|
|
|
|
|
|
|
|
|
|
5 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
- |
|
450 |
|
Other debtors |
2,776 |
|
2,140 |
|
|
|
|
|
|
2,776 |
|
2,590 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
4,000 |
|
4,000 |
|
Trade creditors |
2,984 |
|
2,171 |
|
Taxation and social security costs |
2,649 |
|
860 |
|
Other creditors |
577,981 |
|
567,476 |
|
|
|
|
|
|
587,614 |
|
574,507 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
709,726 |
|
738,748 |
|
|
|
|
|
|
|
|
|
|
8 |
Loans |
2024 |
|
2023 |
£ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
704,392 |
|
729,415 |
|
|
|
|
|
|
|
|
|
|
The bank loans is secured against the below investment properties: 26 Somerset Road, Bolton, BL1 4NE Flat 37 The Sorting House, 83 Newton Street, Manchester, M1 1EP Apartment 139 City South, 39 City Road East, Manchester, M15 4QE. Apartment 94 Vie Building 189, Water Street, Manchester, M3 4JE Apartment 89 Vie Building 189, Water Street, Manchester, M3 4JE Flat 4 The Ropeworks. 35 Little Peter Street, Manchester, M15 4QJ |
|
|
|
|
|
|
|
|
|
Restated |
9 |
Fair value reserve |
2024 |
|
2023 |
£ |
£ |
|
|
At 1 February 2023 |
53,011 |
|
53,011 |
|
Gain on fair value movement in investment property |
70,000 |
|
- |
|
Deferred taxation arising on the fair value movement in investment property |
|
(17,500) |
|
- |
|
|
At 31 January 2024 |
105,511 |
|
53,011 |
|
|
|
|
|
|
|
|
|
|
10 |
Related party transactions |
|
|
Shazina Hussain Consultancy Ltd Key management Other creditors includes an amount £23,450 (2023 £23,150) owed to Shazina Hussain Consultancy Ltd, a company which Ms Shazina Hussain is a director and 100% shareholder. |
|
|
11 |
Controlling party |
|
|
The company is equally controlled by Ms Shazina Hussain and Mr Mohamed Taiyeb Jiva. |
|
|
12 |
Other information |
|
|
Jiva and Hussain Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
75 Westow Hill |
|
Crystal Palace |
|
London |
|
SE19 1TX |