Silverfin false false 30/04/2024 01/05/2023 30/04/2024 K Ruparelia 09/04/1998 13 January 2025 The principal activity of the company continued to be that of property investment. 03543661 2024-04-30 03543661 bus:Director1 2024-04-30 03543661 2023-04-30 03543661 core:CurrentFinancialInstruments 2024-04-30 03543661 core:CurrentFinancialInstruments 2023-04-30 03543661 core:ShareCapital 2024-04-30 03543661 core:ShareCapital 2023-04-30 03543661 core:OtherCapitalReserve 2024-04-30 03543661 core:OtherCapitalReserve 2023-04-30 03543661 core:RetainedEarningsAccumulatedLosses 2024-04-30 03543661 core:RetainedEarningsAccumulatedLosses 2023-04-30 03543661 bus:OrdinaryShareClass1 2024-04-30 03543661 2023-05-01 2024-04-30 03543661 bus:FilletedAccounts 2023-05-01 2024-04-30 03543661 bus:SmallEntities 2023-05-01 2024-04-30 03543661 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03543661 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03543661 bus:Director1 2023-05-01 2024-04-30 03543661 2022-05-01 2023-04-30 03543661 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 03543661 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03543661 (England and Wales)

K J ENTERPRISE LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

K J ENTERPRISE LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

K J ENTERPRISE LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
K J ENTERPRISE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTOR K Ruparelia
SECRETARY K Ruparelia
REGISTERED OFFICE 6 Baud Close
Hadham Hall
Little Hadham
SG11 2BB
United Kingdom
COMPANY NUMBER 03543661 (England and Wales)
ACCOUNTANT Gravita II LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
K J ENTERPRISE LIMITED

BALANCE SHEET

As at 30 April 2024
K J ENTERPRISE LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Investment property 4 225,000 200,000
225,000 200,000
Current assets
Debtors 5 788 599
Cash at bank and in hand 25,993 22,501
26,781 23,100
Creditors: amounts falling due within one year 6 ( 5,699) ( 5,242)
Net current assets 21,082 17,858
Total assets less current liabilities 246,082 217,858
Provision for liabilities ( 20,552) ( 15,802)
Net assets 225,530 202,056
Capital and reserves
Called-up share capital 7 2 2
Other reserves 131,202 110,952
Profit and loss account 94,326 91,102
Total shareholders' funds 225,530 202,056

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of K J Enterprise Limited (registered number: 03543661) were approved and authorised for issue by the Director on 13 January 2025. They were signed on its behalf by:

K Ruparelia
Director
K J ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
K J ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

K J Enterprise Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 6 Baud Close, Hadham Hall, Little Hadham, SG11 2BB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents rent receivable from letting of investment properties. Rent receivable from tenants are measured at fair value. Rental income is recognised in the period to which it arises on an accrual basis and in accordance with the terms of the lease.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

4. Investment property

Investment property
£
Valuation
As at 01 May 2023 200,000
Fair value movement 25,000
As at 30 April 2024 225,000

Valuation

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

On a historical cost basis these would have been included at an original cost of £73,246 (2022: £73,246)

5. Debtors

2024 2023
£ £
Other debtors 788 599

6. Creditors: amounts falling due within one year

2024 2023
£ £
Corporation tax 457 0
Other creditors 5,242 5,242
5,699 5,242

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2