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REGISTERED NUMBER: 00712168 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

JOSEPH KERSH (PROPERTIES) LIMITED

JOSEPH KERSH (PROPERTIES) LIMITED (REGISTERED NUMBER: 00712168)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOSEPH KERSH (PROPERTIES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: A Kiersz-Brownstone
S Brownstone





SECRETARY: A Kiersz-Brownstone





REGISTERED OFFICE: First Floor, Winston House
349 Regents Park Road
London
N3 1DH





REGISTERED NUMBER: 00712168 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

JOSEPH KERSH (PROPERTIES) LIMITED (REGISTERED NUMBER: 00712168)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,049 1,235
Investments 5 40,000 40,000
Investment property 6 2,875,000 2,875,000
2,916,049 2,916,235

CURRENT ASSETS
Debtors 7 508,241 499,413
Cash at bank 286,564 302,909
794,805 802,322
CREDITORS
Amounts falling due within one year 8 28,481 20,251
NET CURRENT ASSETS 766,324 782,071
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,682,373

3,698,306

PROVISIONS FOR LIABILITIES 630,787 630,787
NET ASSETS 3,051,586 3,067,519

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Other reserves 2,268,718 2,268,718
Profit and loss account 781,868 797,801
SHAREHOLDERS' FUNDS 3,051,586 3,067,519

JOSEPH KERSH (PROPERTIES) LIMITED (REGISTERED NUMBER: 00712168)

BALANCE SHEET - continued
31 AUGUST 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 January 2025 and were signed on its behalf by:





A Kiersz-Brownstone - Director


JOSEPH KERSH (PROPERTIES) LIMITED (REGISTERED NUMBER: 00712168)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Joseph Kersh (Properties) 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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.

Investment properties are stated at open market value in accordance with FRS 102 (Section 1A). No depreciation has been provided as required by the Companies Act 2006 as the directors consider that the valuation results in the accounts showing a true and fair view.

Financial instruments
A financial asset or a financial liability is recognised only when the entity 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 unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Financial liabilities that are classified as payable within one year are subsequently measured at the undiscounted amount of the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


JOSEPH KERSH (PROPERTIES) LIMITED (REGISTERED NUMBER: 00712168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued
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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 45,948
DEPRECIATION
At 1 September 2023 44,713
Charge for year 186
At 31 August 2024 44,899
NET BOOK VALUE
At 31 August 2024 1,049
At 31 August 2023 1,235

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2023
and 31 August 2024 40,000
NET BOOK VALUE
At 31 August 2024 40,000
At 31 August 2023 40,000

JOSEPH KERSH (PROPERTIES) LIMITED (REGISTERED NUMBER: 00712168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 2,875,000
NET BOOK VALUE
At 31 August 2024 2,875,000
At 31 August 2023 2,875,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2023 2,832,996
Cost 42,004
2,875,000

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

2024 2023
£    £   
Cost 42,004 42,004

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 508,241 499,413

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 411 299
Other creditors 28,070 19,952
28,481 20,251

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
A Kiersz-Brownstone
Balance outstanding at start of year 21,987 21,876
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,934 21,987

JOSEPH KERSH (PROPERTIES) LIMITED (REGISTERED NUMBER: 00712168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S Brownstone
Balance outstanding at start of year 4,398 17,166
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,304 4,398

Interest was charged on all relevant loans at the official HM Revenue and Customs Rates. All balances will be cleared within 9 months of the year end.