IRIS Accounts Production v24.3.2.46 10476073 director 1.12.23 30.11.24 30.11.24 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh104760732023-11-30104760732024-11-30104760732023-12-012024-11-30104760732022-11-30104760732022-12-012023-11-30104760732023-11-3010476073ns15:EnglandWales2023-12-012024-11-3010476073ns14:PoundSterling2023-12-012024-11-3010476073ns10:Director12023-12-012024-11-3010476073ns10:PrivateLimitedCompanyLtd2023-12-012024-11-3010476073ns10:SmallEntities2023-12-012024-11-3010476073ns10:AuditExempt-NoAccountantsReport2023-12-012024-11-3010476073ns10:SmallCompaniesRegimeForDirectorsReport2023-12-012024-11-3010476073ns10:SmallCompaniesRegimeForAccounts2023-12-012024-11-3010476073ns10:FullAccounts2023-12-012024-11-3010476073ns10:OrdinaryShareClass12023-12-012024-11-3010476073ns10:RegisteredOffice2023-12-012024-11-3010476073ns5:CurrentFinancialInstruments2024-11-3010476073ns5:CurrentFinancialInstruments2023-11-3010476073ns5:Non-currentFinancialInstruments2024-11-3010476073ns5:Non-currentFinancialInstruments2023-11-3010476073ns5:ShareCapital2024-11-3010476073ns5:ShareCapital2023-11-3010476073ns5:SharePremium2024-11-3010476073ns5:SharePremium2023-11-3010476073ns5:FurtherSpecificReserve3ComponentTotalEquity2024-11-3010476073ns5:FurtherSpecificReserve3ComponentTotalEquity2023-11-3010476073ns5:RetainedEarningsAccumulatedLosses2024-11-3010476073ns5:RetainedEarningsAccumulatedLosses2023-11-3010476073ns5:WithinOneYearns5:CurrentFinancialInstruments2024-11-3010476073ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-3010476073ns5:Secured2024-11-3010476073ns5:Secured2023-11-3010476073ns5:DeferredTaxation2023-11-3010476073ns5:DeferredTaxation2024-11-3010476073ns10:OrdinaryShareClass12024-11-3010476073ns5:FurtherSpecificReserve3ComponentTotalEquity2023-11-30
REGISTERED NUMBER: 10476073 (England and Wales)






















J J LIM Limited

Unaudited Financial Statements

for the Year Ended 30 November 2024






J J LIM Limited (Registered number: 10476073)






Contents of the Financial Statements
for the year ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J J LIM Limited

Company Information
for the year ended 30 November 2024







DIRECTOR: P Turner





REGISTERED OFFICE: 13a Duke Street
Southport
Merseyside
PR8 1LS





REGISTERED NUMBER: 10476073 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
13a Duke Street
Southport
Merseyside
PR8 1LS

J J LIM Limited (Registered number: 10476073)

Balance Sheet
30 November 2024

2024 2023
Notes £ £
FIXED ASSETS
Investment property 4 1,450,000 1,450,000

CURRENT ASSETS
Debtors 5 60,043 72,272
Cash at bank 93,372 95,343
153,415 167,615
CREDITORS
Amounts falling due within one year 6 (84,029 ) (94,574 )
NET CURRENT ASSETS 69,386 73,041
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,519,386

1,523,041

CREDITORS
Amounts falling due after more than one year 7 (475,295 ) (508,473 )

PROVISIONS FOR LIABILITIES 9 (84,323 ) (84,323 )
NET ASSETS 959,768 930,245

CAPITAL AND RESERVES
Called up share capital 10 100 100
Share premium 609,364 609,364
Fair value reserve 11 252,968 252,968
Retained earnings 97,336 67,813
SHAREHOLDERS' FUNDS 959,768 930,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 1 April 2025 and were signed by:





P Turner - Director


J J LIM Limited (Registered number: 10476073)

Notes to the Financial Statements
for the year ended 30 November 2024

1. STATUTORY INFORMATION

J J LIM 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

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 NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 December 2023
and 30 November 2024 1,450,000
NET BOOK VALUE
At 30 November 2024 1,450,000
At 30 November 2023 1,450,000

J J LIM Limited (Registered number: 10476073)

Notes to the Financial Statements - continued
for the year ended 30 November 2024

4. INVESTMENT PROPERTY - continued

Fair value at 30 November 2024 is represented by:
£
Valuation in 2020 37,291
Valuation in 2023 300,000
Cost 1,112,709
1,450,000

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

2024 2023
£ £
Cost 1,112,709 1,112,709

Investment property was valued on an open market basis basis on 30 November 2023 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 3,150 250
Other debtors 56,893 72,022
60,043 72,272

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 11,442 14,704
Trade creditors 363 252
Taxation and social security 10,019 9,681
Other creditors 62,205 69,937
84,029 94,574

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 285,771 318,949
Other creditors 189,524 189,524
475,295 508,473

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 228,563 245,428

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 297,213 333,653

The company's bank borrowings are secured on the properties to which they relate.

J J LIM Limited (Registered number: 10476073)

Notes to the Financial Statements - continued
for the year ended 30 November 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 84,323 84,323

Deferred tax
£
Balance at 1 December 2023 84,323
Balance at 30 November 2024 84,323

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary 1.00 100 100

11. RESERVES
Fair value
reserve
£
At 1 December 2023
and 30 November 2024 252,968