Registered number
09955223
AJK Properties Leeds Limited
Unaudited Filleted Accounts
31 January 2024
AJK Properties Leeds Limited
Registered number: 09955223
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible fixed assets 4 23,499 31,345
Investment property 5 2,535,106 2,249,560
2,558,605 2,280,905
Current assets
Debtors 6 8,753 38,414
Cash at bank and in hand 34,755 157,929
43,508 196,343
Creditors: amounts falling due within one year 7 (146,187) (160,037)
Net current (liabilities)/assets (102,679) 36,306
Total assets less current liabilities 2,455,926 2,317,211
Creditors: amounts falling due after more than one year 8 (1,812,810) (1,674,640)
Provisions for liabilities (152,701) (115,760)
Net assets 490,415 526,811
Capital and reserves
Called up share capital 1 1
Fair value reserve 10 446,542 482,265
Profit and loss account 43,872 44,545
Shareholder's funds 490,415 526,811
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 A J Kristall
Director
Approved by the board on 31/10/2024.
AJK Properties Leeds Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Statutory information
AJK Properties Leeds Limited is a private company, limited by shares, registered in England and Wales.
The company's registered number and registered office address are as below:
Registered number: 09955223
Registered office: 5 Wike Ridge Court
Leeds
LS17 9NX
The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.
2 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" including 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.
Turnover
Turnover represents rents received and receivable, excluding VAT.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
2 Accounting policies (continued)
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.
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.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
4 Tangible fixed assets
Computer equipment Motor vehicles Total
£ £ £
Cost
At 1 February 2023 300 40,990 41,290
At 31 January 2024 300 40,990 41,290
Depreciation
At 1 February 2023 287 9,658 9,945
Charge for the year 13 7,833 7,846
At 31 January 2024 300 17,491 17,791
Net book value
At 31 January 2024 - 23,499 23,499
At 31 January 2023 13 31,332 31,345
5 Investment property
Total
£
Fair value
At 1 February 2023 2,249,560
Additions 285,546
At 31 January 2024 2,535,106
Historical cost
At 1 February 2023 1,654,171
At 31 January 2024 1,939,717
The investment property was valued on an open market basis on 31 January 2024 by the director.
6 Debtors 2024 2023
£ £
Prepayments and accrued income 574 1,934
Taxation and social security costs 1,779 -
Other debtors 6,400 36,480
8,753 38,414
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 26,301 24,817
Obligations under finance lease and hire purchase contracts 4,798 4,590
Trade creditors 125 1,270
Director's current account 71,438 89,939
Accruals and deferred income 15,416 11,312
Other creditors 28,109 28,109
146,187 160,037
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,788,992 1,646,024
Obligations under finance lease and hire purchase contracts 23,818 28,616
1,812,810 1,674,640
9 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 1,680,590 1,534,432
Secured bank loans 1,805,106 1,660,853
Bank loans are secured over the properties to which they relate.
10 Fair value reserve 2024 2023
£ £
At 1 February 2023 482,265 373,718
Reserve transfer (35,723) 108,547
At 31 January 2024 446,542 482,265
11 Related party transactions
During the year £36,204 (2023: £53,142) was advanced from and £54,705 (2023: £78,480) was repaid to the director of the company. An amount of £71,438 (2023: £89,939) remained due to the director at the year end.
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