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REGISTERED NUMBER: 01959285 (England and Wales)















KJN Developments (Alton) Limited

Financial Statements for the Year Ended 31st December 2023






KJN Developments (Alton) Limited (Registered number: 01959285)

Contents of the Financial Statements
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KJN Developments (Alton) Limited

Company Information
for the Year Ended 31st December 2023







DIRECTOR: S Newland





REGISTERED OFFICE: Orchard Cottage
Church Lane
Holybourne
Alton
Hampshire
GU34 4HD





REGISTERED NUMBER: 01959285 (England and Wales)





ACCOUNTANTS: Sheen Stickland
Chartered Accountants
2 Oriel Court
Omega Park
Alton
Hampshire
GU34 2YT

KJN Developments (Alton) Limited (Registered number: 01959285)

Balance Sheet
31st December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 142,554 142,554
Investment property 5 2,687,000 1,221,978
2,829,554 1,364,532

CURRENT ASSETS
Debtors 6 18,453 18,383
Cash at bank 288 21,802
18,741 40,185
CREDITORS
Amounts falling due within one year 7 (669,327 ) (657,724 )
NET CURRENT LIABILITIES (650,586 ) (617,539 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,178,968

746,993

CREDITORS
Amounts falling due after more than
one year

8

(6,671

)

(59,271

)

PROVISIONS FOR LIABILITIES (91,586 ) -
NET ASSETS 2,080,711 687,722

KJN Developments (Alton) Limited (Registered number: 01959285)

Balance Sheet - continued
31st December 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 10 1,373,436 -
Retained earnings 10 707,273 687,720
2,080,711 687,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17th January 2025 and were signed by:





S Newland - Director


KJN Developments (Alton) Limited (Registered number: 01959285)

Notes to the Financial Statements
for the Year Ended 31st December 2023


1. STATEMENT OF COMPLIANCE

KJN Developments (Alton) Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Orchard Cottage, Church Lane, Holybourne, Alton, Hampshire, GU34 4HD. The registration number is 01959285.

The financial statements are presented in sterling which is the functional currency of the company, and rounded to the nearest period.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis as the director has confirmed that she will continue to provide financial and other support required by the company.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable. The following criteria must also be met before turnover is recognised:

Rent receivable
Turnover comprises rent receivable from the company's investment properties.

Tangible fixed assets
Tangible assets are depreciated over their useful lives taking into account residual values, where appropriate. The useful lives of these assets are estimates based on historic experience and future considerations and these are re-assessed annually.

Any gain or loss arising on the disposal of an asset is determined by the difference between sale proceeds and carrying value of the asset, and is credited or charged to the profit or loss.

Investment property
Investment property is included at fair value, any aggregate surplus of deficit arising from changes in fair value is recognised in profit or loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

KJN Developments (Alton) Limited (Registered number: 01959285)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when KJN Developments (Alton) Limited becomes party to the contractual provisions of the financial instrument.

Cash and cash equivalents
These comprise cash at bank.

Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Creditors
Creditors are not interest bearing and are stated at their nominal value.

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 1 (2022 - 1 ) .

KJN Developments (Alton) Limited (Registered number: 01959285)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2023 142,554 36,972 179,526
Disposals - (36,972 ) (36,972 )
At 31st December 2023 142,554 - 142,554
DEPRECIATION
At 1st January 2023 - 36,972 36,972
Eliminated on disposal - (36,972 ) (36,972 )
At 31st December 2023 - - -
NET BOOK VALUE
At 31st December 2023 142,554 - 142,554
At 31st December 2022 142,554 - 142,554

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2023 1,221,978
Revaluations 1,465,022
At 31st December 2023 2,687,000
NET BOOK VALUE
At 31st December 2023 2,687,000
At 31st December 2022 1,221,978

KJN Developments (Alton) Limited (Registered number: 01959285)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


5. INVESTMENT PROPERTY - continued

Fair Value at 31st December 2023 is represented by:
£
Valuation movement 2023 1,465,022
Cost 1,221,978
2,687,000

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£ £
Cost 1,221,978 1,221,978

The properties are held at the fair value as estimated by the directors, based on their knowledge of the market and industry information.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 18,453 18,383

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 41,769 27,660
Trade creditors - 2,680
Taxation 5,336 20,862
Other creditors 622,222 606,522
669,327 657,724

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 6,671 59,271

KJN Developments (Alton) Limited (Registered number: 01959285)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 48,440 86,931

The bank loans are secured by way of a a fixed charge over the investment properties.

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st January 2023 687,720 - 687,720
Profit for the year 1,392,989 1,392,989
Transfer (1,373,436 ) 1,373,436 -
At 31st December 2023 707,273 1,373,436 2,080,709

Revaluation reserve
To assist with the identification of profits available for distribution this reserve represents changes in the fair value of the company's investment properties to the extent that they are not considered to be distributable to the company's shareholders, less any related provision for current or deferred tax.

Retained earnings
This reserve comprises all current and prior period retained profits and losses after deducting any distributions made to the company's shareholder.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2023 and 31st December 2022:

2023 2022
£    £   
S Newland
Balance outstanding at start of year (596,847 ) (628,829 )
Amounts advanced - 31,982
Amounts repaid (15,059 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (611,906 ) (596,847 )

KJN Developments (Alton) Limited (Registered number: 01959285)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


12. RELATED PARTY DISCLOSURES

Anstey Road Management Company Limited

A company with common ownership.

During the year the company made sales of £160 (2023: £160), recharged expenses of £6,260 (2023: £8,620), and made purchases of £6,120 (2023: £6,120) to Anstey Road Management Company Limited. At the year end a balance of £18,450 (2023: £18,150) was owed from Anstey Road Management Company Limited.