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REGISTERED NUMBER: 04737034 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

J.K.T. PROPERTIES LTD

J.K.T. PROPERTIES LTD (REGISTERED NUMBER: 04737034)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J.K.T. PROPERTIES LTD

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTOR: Mr B S Thorp





REGISTERED OFFICE: Arc Terrace Road
Pinvin
Pershore
Worcestershire
WR10 2DJ





REGISTERED NUMBER: 04737034 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

J.K.T. PROPERTIES LTD (REGISTERED NUMBER: 04737034)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,098 9,479
Investment property 5 11,519,017 11,050,000
11,527,115 11,059,479

CURRENT ASSETS
Stocks 206,551 350,601
Debtors 6 2,464,028 252,987
Cash at bank and in hand 1,827,247 3,281,352
4,497,826 3,884,940
CREDITORS
Amounts falling due within one year 7 3,018,082 2,903,611
NET CURRENT ASSETS 1,479,744 981,329
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,006,859

12,040,808

PROVISIONS FOR LIABILITIES 8 1,760,056 1,758,308
NET ASSETS 11,246,803 10,282,500

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Share premium 1,049,000 1,049,000
Fair value reserve 10 5,274,103 5,274,103
Retained earnings 4,922,700 3,958,397
SHAREHOLDERS' FUNDS 11,246,803 10,282,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

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.

J.K.T. PROPERTIES LTD (REGISTERED NUMBER: 04737034)

BALANCE SHEET - continued
31 January 2024


The 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.

The financial statements were approved by the director and authorised for issue on 22 October 2024 and were signed by:





Mr B S Thorp - Director


J.K.T. PROPERTIES LTD (REGISTERED NUMBER: 04737034)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. GENERAL INFORMATION

J.K.T. Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern
In accordance with the Financial Reporting Council's 'Going Concern and Liquidity Risk: Guidance for Directors of UK Companies 2009' the directors of all companies are required to provide disclosure regarding the adoption of the going concern basis of accounting.

The board have considered the going concern assertion. The company's principle activity is the purchase, development and sale of properties together with lettings services, which have continued throughout the year.

The Director therefore has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and has continued to adopt the going concern basis in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Judgements
No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised.

J.K.T. PROPERTIES LTD (REGISTERED NUMBER: 04737034)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax,returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and Machinery-10 - 33% straight line basis

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost, less provision for impairment.

Investment property
Investment property is carried at fair value, which is reviewed annually. Any surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

J.K.T. PROPERTIES LTD (REGISTERED NUMBER: 04737034)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 February 2023
and 31 January 2024 19,932
DEPRECIATION
At 1 February 2023 10,453
Charge for year 1,381
At 31 January 2024 11,834
NET BOOK VALUE
At 31 January 2024 8,098
At 31 January 2023 9,479

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 11,050,000
Additions 502,190
Disposals (33,173 )
At 31 January 2024 11,519,017
NET BOOK VALUE
At 31 January 2024 11,519,017
At 31 January 2023 11,050,000

The investment properties have been revalued by the Director on a fair value basis.

J.K.T. PROPERTIES LTD (REGISTERED NUMBER: 04737034)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2011 (666,445 )
Valuation in 2015 2,023,945
Valuation in 2023 5,674,638
Cost 4,486,879
11,519,017

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 224,822 78,463
Amounts owed by group undertakings 23,573 23,573
Other debtors 2,215,633 150,951
2,464,028 252,987

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 109,031 8,551
Amounts owed to group undertakings 2,371,807 2,625,315
Taxation and social security 468,356 172,101
Other creditors 68,888 97,644
3,018,082 2,903,611

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,760,056 1,758,308

Deferred
tax
£   
Balance at 1 February 2023 1,758,308
Provided during year 1,748
Balance at 31 January 2024 1,760,056

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary shares £1 1,000 1,000

J.K.T. PROPERTIES LTD (REGISTERED NUMBER: 04737034)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

10. RESERVES
Fair
value
reserve
£   
At 1 February 2023
and 31 January 2024 5,274,103

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr B S Thorp
Balance outstanding at start of year - -
Amounts advanced 180,072 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 180,072 -

12. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption allowed relating to subsidiaries where 100% of the voting rights are controlled within the group not to disclose transactions between the company and fellow group undertakings.