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REGISTERED NUMBER: 14260132 (England and Wales)













Financial Statements

for the Year Ended 31 July 2024

for

Joshi Property Group Limited

Joshi Property Group Limited (Registered number: 14260132)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Joshi Property Group Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: V K Joshi
S Joshi





REGISTERED OFFICE: Newland House The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN





REGISTERED NUMBER: 14260132 (England and Wales)





ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN

Joshi Property Group Limited (Registered number: 14260132)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 2,225
Investment property 5 612,500 494,500
612,500 496,725

CURRENT ASSETS
Debtors 6 44 342
Cash at bank 7,280 39,956
7,324 40,298
CREDITORS
Amounts falling due within one year 7 182,420 195,244
NET CURRENT LIABILITIES (175,096 ) (154,946 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

437,404

341,779

CREDITORS
Amounts falling due after more than
one year

8

464,416

374,146
NET LIABILITIES (27,012 ) (32,367 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (27,112 ) (32,467 )
(27,012 ) (32,367 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Joshi Property Group Limited (Registered number: 14260132)

Balance Sheet - continued
31 July 2024


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 Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by:





V K Joshi - Director


Joshi Property Group Limited (Registered number: 14260132)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Joshi Property Group 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.

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.

Turnover represents rents receivable on an accrual basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

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.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.


Joshi Property Group Limited (Registered number: 14260132)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 August 2023 2,450
Disposals (2,450 )
At 31 July 2024 -
DEPRECIATION
At 1 August 2023 225
Charge for year 556
Eliminated on disposal (781 )
At 31 July 2024 -
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 2,225

Joshi Property Group Limited (Registered number: 14260132)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 494,500
Additions 118,000
At 31 July 2024 612,500
NET BOOK VALUE
At 31 July 2024 612,500
At 31 July 2023 494,500

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2024 (5,216 )
Valuation in 2023 (22,340 )
Cost 640,056
612,500

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

2024 2023
£    £   
Cost 640,056 516,840
Aggregate depreciation (17,112 ) (4,567 )

The investment properties are initially measured at cost which comprises the purchase price and any directly attributable expenditure. Investment properties are subsequently measured to fair value at each reporting date with changes in the fair value recognised in the profit or loss.The Directors are satisfied that the properties value in the accounts is not materially different from their fair value as at 31st July 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 44 342

Joshi Property Group Limited (Registered number: 14260132)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 1,600 2,295
Directors' current accounts 179,021 187,674
Accruals and deferred income 1,799 5,275
182,420 195,244

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans more 5 yr by instal 464,416 374,146

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 464,416 374,146

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 464,416 374,146

Mortgages are secured on the properties to which they relate.

10. RELATED PARTY DISCLOSURES

Included in creditors due within one year is a directors loan account balance of £179,021 (2023: £187,674). This is unsecured and interest free.