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REGISTERED NUMBER: 09350412 (England and Wales)















J K PROPERTIES BIRMINGHAM LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2024






J K PROPERTIES BIRMINGHAM LIMITED (REGISTERED NUMBER: 09350412)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J K PROPERTIES BIRMINGHAM LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S S Bhogal
R S Bhogal
C S Bhogal
A S Bhogal





REGISTERED OFFICE: 25 Dulverton Road
Witton
Birmingham
West Midlands
B6 7EQ





REGISTERED NUMBER: 09350412 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

J K PROPERTIES BIRMINGHAM LIMITED (REGISTERED NUMBER: 09350412)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 23,175,253 18,480,796

CURRENT ASSETS
Debtors 5 3,676,207 2,373,139
Cash at bank 67,663 1,079,664
3,743,870 3,452,803
CREDITORS
Amounts falling due within one year 6 1,411,008 2,284,506
NET CURRENT ASSETS 2,332,862 1,168,297
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,508,115

19,649,093

CREDITORS
Amounts falling due after more than one
year

7

(5,046,380

)

(5,572,620

)

PROVISIONS FOR LIABILITIES (874,837 ) -
NET ASSETS 19,586,898 14,076,473

CAPITAL AND RESERVES
Called up share capital 8 8
Revaluation reserve 9 2,624,514 -
Retained earnings 16,962,376 14,076,465
SHAREHOLDERS' FUNDS 19,586,898 14,076,473

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

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

The directors acknowledge their 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 PROPERTIES BIRMINGHAM LIMITED (REGISTERED NUMBER: 09350412)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:





C S Bhogal - Director


J K PROPERTIES BIRMINGHAM LIMITED (REGISTERED NUMBER: 09350412)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

J K Properties Birmingham Limited 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 preparing the financial statements
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.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 18,480,796
Additions 1,512,000
Disposals (316,894 )
Revaluations 3,499,351
At 31 March 2024 23,175,253
NET BOOK VALUE
At 31 March 2024 23,175,253
At 31 March 2023 18,480,796

J K PROPERTIES BIRMINGHAM LIMITED (REGISTERED NUMBER: 09350412)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 23,175,253

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 19,675,902 18,480,796

Investment property was valued on an open market basis on 31 March 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 177,107 210,716
Other debtors - 79,166
Directors' current accounts 3,492,690 2,059,294
Prepayments 6,410 23,963
3,676,207 2,373,139

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 805,084 1,212,785
Trade creditors 574 9,543
Social security and other taxes 227,968 169,198
VAT - 24,265
Other creditors 309,441 767,592
Accrued expenses 67,941 101,123
1,411,008 2,284,506

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 805,084 1,212,785
Bank loans - 2-5 years 2,268,474 3,638,354
Bank loans more 5 yr by instal 1,972,822 721,481
5,046,380 5,572,620

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,972,822 721,481

J K PROPERTIES BIRMINGHAM LIMITED (REGISTERED NUMBER: 09350412)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 5,851,464 6,785,405

The bank borrowings are secured by a first charge over the company's freehold property.

9. RESERVES
Revaluation
reserve
£   
Revaluation in year 2,624,514

At 31 March 2024 2,624,514

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
A S Bhogal
Balance outstanding at start of year 514,824 (29,299 )
Amounts advanced - 544,123
Amounts repaid (514,824 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 514,824

C S Bhogal
Balance outstanding at start of year 514,824 (29,299 )
Amounts advanced 3,492,690 544,123
Amounts repaid (514,824 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,492,690 514,824

R S Bhogal
Balance outstanding at start of year 514,823 (29,299 )
Amounts advanced - 544,122
Amounts repaid (514,823 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 514,823

J K PROPERTIES BIRMINGHAM LIMITED (REGISTERED NUMBER: 09350412)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S S Bhogal
Balance outstanding at start of year 514,823 (29,299 )
Amounts advanced - 544,122
Amounts repaid (514,823 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 514,823