Company Registration No. 07236730 (England and Wales)
J&K BUSINESS ASSOCIATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
J&K BUSINESS ASSOCIATES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
J&K BUSINESS ASSOCIATES LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
44,546
30,447
Investments
5
323,442
325,308
367,988
355,755
Current assets
Debtors
6
664,579
-
0
Investments
7
462,942
352,850
Cash at bank and in hand
331,972
835,517
1,459,493
1,188,367
Creditors: amounts falling due within one year
8
(118,290)
(67,401)
Net current assets
1,341,203
1,120,966
Total assets less current liabilities
1,709,191
1,476,721
Provisions for liabilities
(11,137)
(7,612)
Net assets
1,698,054
1,469,109
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
1,697,954
1,469,009
Total equity
1,698,054
1,469,109

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

J&K BUSINESS ASSOCIATES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 27 March 2025
Mr Jonathan Schwarzmann
Director
Company registration number 07236730 (England and Wales)
J&K BUSINESS ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

J&K Business Associates Limited is a private company limited by shares incorporated in England and Wales. The registered office is 70 High Road, Bushey Heath, Bushey, Hertfordshire, United Kingdom, WD23 1GG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

1.2
Going concern

The director has a reasonable expectation the company will continue to have adequate resources to fund its working capital for the foreseeable future. The director has carried out a detailed assessment of the viability of the company.

As a result of his review, the director has taken appropriate measures to enable him to have a reasonable expectation that the company will have sufficient working capital for a period of at least 12 months from the date these financial statements have been approved.

On the basis of the above, the director is of the opinion there is no material uncertainty relating to going concern and therefore it is appropriate to prepare these financial  statements on a going concern basis.

1.3
Turnover

Turnover comprises the fair value of the consideration received or receivable for the company's share of profit derived from for The White House Dental Practice,a joint venture. Turnover is shown net of returns, rebates and discounts. The company is not registered for Value Added tax

 

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

1.4
Intangible fixed assets - goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Amortisation
Over 10 years
J&K BUSINESS ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures,fittings and equipment
25% Reducing balance
Motor vehicles
25% Straight line

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

1.6
Taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Current tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

 

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

1.7

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

1.8

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
1
J&K BUSINESS ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
630,000
Amortisation and impairment
At 1 May 2023 and 30 April 2024
630,000
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
-
0

 

4
Tangible fixed assets
Fixtures,fittings and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 May 2023
40,433
59,010
99,443
Additions
18,000
10,228
28,228
At 30 April 2024
58,433
69,238
127,671
Depreciation and impairment
At 1 May 2023
14,904
54,092
68,996
Depreciation charged in the year
7,507
6,622
14,129
At 30 April 2024
22,411
60,714
83,125
Carrying amount
At 30 April 2024
36,022
8,524
44,546
At 30 April 2023
25,529
4,918
30,447
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
323,442
325,308
J&K BUSINESS ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
5
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 May 2023
325,308
Valuation changes
(1,866)
At 30 April 2024
323,442
Carrying amount
At 30 April 2024
323,442
At 30 April 2023
325,308
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
664,579
-
0
7
Current asset investments
2024
2023
£
£
Other investments
462,942
352,850
8
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
109,364
61,605
Other taxation and social security
598
161
Other creditors
565
532
Accruals and deferred income
7,763
5,103
118,290
67,401
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
J&K BUSINESS ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
10
Directors' transactions

 

Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Loan advanced
-
(532)
365,111
364,579
(532)
365,111
364,579

The director's overdrawn loan account was repaid within 9 months of the end of the financial period.

11
Prior period adjustment
Reconciliation of changes in equity
1 May
30 April
2022
2023
£
£
Adjustments to prior year
Prior year adjustment
-
60,000
Equity as previously reported
1,265,158
1,409,109
Equity as adjusted
1,265,158
1,469,109
Analysis of the effect upon equity
Profit and loss reserves
-
60,000
Reconciliation of changes in profit for the previous financial period
2023
£
Adjustments to prior year
Prior year adjustment
60,000
Profit as previously reported
221,951
Profit as adjusted
281,951
12
Prior year adjustment

The prior year adjustment relates to Turnover understated of £60,000 in the year to 30 April 2023.

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