Registered number
01949061
(England & Wales)
JIVRAT ASSOCIATES LIMITED
Unaudited Filleted Accounts
for the year ended 31 March 2024
JIVRAT ASSOCIATES LIMITED
Registered number: 01949061
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 1,750,285 1,865,075
Current assets
Stocks 4,000 4,014
Debtors 5 356,577 384,991
Cash at bank and in hand 298,080 360,677
658,657 749,682
Creditors: amounts falling due within one year 6 (420,172) (551,087)
Net current assets 238,485 198,595
Total assets less current liabilities 1,988,770 2,063,670
Creditors: amounts falling due after more than one year 7 (391,759) (478,398)
Provisions for liabilities (225,321) (246,606)
Net assets 1,371,690 1,338,666
Capital and reserves
Called up share capital 3,000 3,000
Profit and loss account 1,368,690 1,335,666
Shareholders' funds 1,371,690 1,338,666
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H J Kanabar
Director
Approved by the board on 27 March 2025
JIVRAT ASSOCIATES LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold property 0%
Fixtures, fittings and equipment 10% to 25% p.a. reducing balance basis
Hotel fixtures and fittings 5% p.a. straight line basis
Motor vehicles 25% p.a. reducing balance basis
The company operates in a sector where health and safety is paramount and maintains its hotel in a good state of repair. The director is of the opinion that any depreciation relating to the freehold property would not be material.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 31 19
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 290,000
At 31 March 2024 290,000
Amortisation
At 1 April 2023 290,000
At 31 March 2024 290,000
Net book value
At 31 March 2024 -
Goodwill is stated at cost less amortisation. Amortisation has been provided at rates in order to write off the assets over their estimated useful life of 20 years, commencing 01.04.2004.
4 Tangible fixed assets
Freehold property Hotel fixtures and fittings Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 1,261,407 1,212,472 93,000 2,566,879
Additions - 9,990 - 9,990
Disposals - (71,555) - (71,555)
At 31 March 2024 1,261,407 1,150,907 93,000 2,505,314
Depreciation
At 1 April 2023 - 700,641 1,163 701,804
Charge for the year - 52,078 1,147 53,225
At 31 March 2024 - 752,719 2,310 755,029
Net book value
At 31 March 2024 1,261,407 398,188 90,690 1,750,285
At 31 March 2023 1,261,407 511,831 91,837 1,865,075
Freehold land and buildings: 2024 2023
£ £
Historical cost 1,261,407 1,261,407
Cumulative depreciation based on historical cost - -
1,261,407 1,261,407
5 Debtors 2024 2023
£ £
Trade debtors 356,577 384,991
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 86,455 89,461
Trade creditors and accruals 228,298 281,626
Taxation and social security costs 50,267 41,145
Director's current account 17,319 58,193
Other creditors - loans from related parties 37,833 80,662
420,172 551,087
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 391,759 478,398
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 45,940 231,656
Secured bank loans 478,214 567,859
Loan secured against freehold property of company.
9 Related party transactions
The directors consider that all transactions between the company and related parties are on normal commercial terms.
10 Controlling party
The company is under the control of the director, Mr H J Kanabar, by virtue of his 75.33% holding of issued ordinary share capital. Mrs H Kanabar, his wife, owns the balance of the issued share capital. The dividends were paid to them in proportion to their shareholdings.
11 Other information
JIVRAT ASSOCIATES LIMITED is a private company limited by shares and incorporated in England. The accounts are presented in sterling which is the functional currency of the company. Its registered office is:
5-7 Fletton Avenue
Peterborough
Cambridgeshire
PE2 8AX
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