0
31/03/2024
2024-03-31
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
false
false
2023-04-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
08189523
2023-04-01
2024-03-31
08189523
2024-03-31
08189523
2023-03-31
08189523
2023-03-31
08189523
bus:RegisteredOffice
2023-04-01
2024-03-31
08189523
bus:LeadAgentIfApplicable
2023-04-01
2024-03-31
08189523
bus:Director1
2023-04-01
2024-03-31
08189523
bus:Director2
2023-04-01
2024-03-31
08189523
core:LandBuildings
core:OwnedOrFreeholdAssets
2024-03-31
08189523
core:LandBuildings
core:LongLeaseholdAssets
2024-03-31
08189523
core:DeferredTaxation
2023-04-01
2024-03-31
08189523
core:WithinOneYear
2024-03-31
08189523
core:WithinOneYear
2023-03-31
08189523
core:ShareCapital
2024-03-31
08189523
core:ShareCapital
2023-03-31
08189523
core:RevaluationReserve
2024-03-31
08189523
core:RevaluationReserve
2023-03-31
08189523
core:RetainedEarningsAccumulatedLosses
2024-03-31
08189523
core:RetainedEarningsAccumulatedLosses
2023-03-31
08189523
bus:OrdinaryShareClass1
core:ShareCapital
2024-03-31
08189523
bus:OrdinaryShareClass1
core:ShareCapital
2023-03-31
08189523
core:RevaluationPropertyPlantEquipmentDeferredTax
2024-03-31
08189523
core:RevaluationPropertyPlantEquipmentDeferredTax
2023-03-31
08189523
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-03-31
08189523
core:LandBuildings
core:LongLeaseholdAssets
2023-03-31
08189523
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-03-31
08189523
core:LandBuildings
core:LongLeaseholdAssets
2023-03-31
08189523
core:DeferredTaxation
2023-03-31
08189523
core:DeferredTaxation
2024-03-31
08189523
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-04-01
2024-03-31
08189523
core:LandBuildings
core:LongLeaseholdAssets
2023-04-01
2024-03-31
08189523
bus:SmallEntities
2023-04-01
2024-03-31
08189523
bus:AuditExemptWithAccountantsReport
2023-04-01
2024-03-31
08189523
bus:FullAccounts
2023-04-01
2024-03-31
08189523
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
08189523
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
08189523
1
2023-04-01
2024-03-31
08189523
bus:OrdinaryShareClass1
2023-04-01
2024-03-31
Company registration number:
08189523
JTK Properties Limited
Unaudited filleted financial statements
31 March 2024
JTK Properties Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
JTK Properties Limited
Directors and other information
|
|
|
|
Directors |
Dr Andreas Tobias Keyser |
|
|
Mrs Janet Marie Keyser |
|
|
|
|
|
|
|
Company number |
08189523 |
|
|
|
|
|
|
|
Registered office |
Crossens Way Business Park |
|
|
Crossens Way |
|
|
Southport |
|
|
PR9 9LY |
|
|
|
|
|
|
|
Accountants |
Forshaws Accountants Limited |
|
|
Crossens Way Business Park |
|
|
Crossens Way |
|
|
Southport |
|
|
PR9 9LY |
|
|
|
JTK Properties Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of JTK Properties Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JTK Properties Limited for the year ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance.
This report is made solely to the board of directors of JTK Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of JTK Properties Limited and state those matters that we have agreed to state to the board of directors of JTK Properties Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JTK Properties Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that JTK Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JTK Properties Limited. You consider that JTK Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of JTK Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Forshaws Accountants Limited
Chartered Accountants
Crossens Way Business Park
Crossens Way
Southport
PR9 9LY
30 September 2024
JTK Properties Limited
Statement of financial position
31 March 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
4 |
3,070,000 |
|
|
|
3,042,000 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
3,070,000 |
|
|
|
3,042,000 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
5 |
350 |
|
|
|
- |
|
|
Cash at bank and in hand |
|
|
113,046 |
|
|
|
53,250 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
113,396 |
|
|
|
53,250 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
6 |
(
1,779,281) |
|
|
|
(
1,789,074) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
1,665,885) |
|
|
|
(
1,735,824) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
7 |
|
|
(
243,778) |
|
|
|
(
236,778) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
1,160,337 |
|
|
|
1,069,398 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
9 |
|
|
100 |
|
|
|
100 |
Revaluation reserve |
|
|
|
|
731,333 |
|
|
|
710,333 |
Profit and loss account |
|
|
|
|
428,904 |
|
|
|
358,965 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
1,160,337 |
|
|
|
1,069,398 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
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.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
30 September 2024
, and are signed on behalf of the board by:
Dr Andreas Tobias Keyser
Director
Company registration number:
08189523
JTK Properties Limited
Notes to the financial statements
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Crossens Way Business Park, Crossens Way, Southport, PR9 9LY.
The principal activity of the company is that of property rental.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets all represent investment properties, which are initially recorded at cost and subsequently revalued at each accounting date. Revalued amounts are recorded at the fair value at the date of revaluation.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Tangible assets
|
|
Freehold property |
Long leasehold property |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost or valuation |
|
|
|
|
|
|
|
|
At 1 April 2023 |
2,721,000 |
321,000 |
3,042,000 |
|
|
|
|
|
Revaluation |
19,000 |
9,000 |
28,000 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2024 |
2,740,000 |
330,000 |
3,070,000 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2023 and 31 March 2024 |
- |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2024 |
2,740,000 |
330,000 |
3,070,000 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
2,721,000 |
321,000 |
3,042,000 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
At the balance sheet date, the directors have valued the properties and consider them to be at fair market value.
5.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Other debtors |
|
350 |
- |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Corporation tax |
|
20,115 |
11,639 |
|
Other creditors |
|
1,759,166 |
1,777,435 |
|
|
|
_______ |
_______ |
|
|
|
1,779,281 |
1,789,074 |
|
|
|
_______ |
_______ |
|
|
|
|
|
At the balance sheet date, other creditors included £1,758,086 (2022: £1,775,305) due to the directors of the company. This balance is unsecured, interest free and repayable on demand.
7.
Provisions
|
|
Deferred tax (note 8) |
Total |
|
|
|
|
|
£ |
£ |
|
|
|
|
At 1 April 2023 |
236,778 |
236,778 |
|
|
|
|
Additions |
7,000 |
7,000 |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
At 31 March 2024 |
243,778 |
243,778 |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
8.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Included in provisions (note 7) |
|
243,778 |
236,778 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
Revaluation of tangible assets
243,778
236,778
_______
|
_______
|
9.
Called up share capital
Issued, called up and fully paid
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £ 1.00 each |
|
100 |
|
100 |
|
100 |
|
100 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
10.
Controlling party
The Company is controlled by Dr T & Mrs J Keyser by virtue of their combined 100% holding of the issued share capital in the Company.