10 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 5,000 4,999 1 1 xbrli:pure xbrli:shares iso4217:GBP 03972772 2024-01-01 2024-12-31 03972772 2024-12-31 03972772 2023-12-31 03972772 2023-01-01 2023-12-31 03972772 2023-12-31 03972772 2022-12-31 03972772 core:PlantMachinery 2024-01-01 2024-12-31 03972772 core:MotorVehicles 2024-01-01 2024-12-31 03972772 core:NetGoodwill 2024-01-01 2024-12-31 03972772 bus:Director3 2024-01-01 2024-12-31 03972772 core:WithinOneYear 2024-12-31 03972772 core:WithinOneYear 2023-12-31 03972772 core:NetGoodwill 2024-12-31 03972772 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 03972772 core:PlantMachinery 2023-12-31 03972772 core:MotorVehicles 2023-12-31 03972772 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 03972772 core:LandBuildings core:ShortLeaseholdAssets 2024-12-31 03972772 core:PlantMachinery 2024-12-31 03972772 core:MotorVehicles 2024-12-31 03972772 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03972772 core:LandBuildings core:ShortLeaseholdAssets 2024-01-01 2024-12-31 03972772 core:AfterOneYear 2024-12-31 03972772 core:AfterOneYear 2023-12-31 03972772 core:ShareCapital 2024-12-31 03972772 core:ShareCapital 2023-12-31 03972772 core:RetainedEarningsAccumulatedLosses 2024-12-31 03972772 core:RetainedEarningsAccumulatedLosses 2023-12-31 03972772 core:NetGoodwill 2023-12-31 03972772 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 03972772 core:PlantMachinery 2023-12-31 03972772 core:MotorVehicles 2023-12-31 03972772 bus:SmallEntities 2024-01-01 2024-12-31 03972772 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03972772 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03972772 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03972772 bus:FullAccounts 2024-01-01 2024-12-31 03972772 core:ComputerEquipment 2024-01-01 2024-12-31 03972772 core:ComputerEquipment 2023-12-31 03972772 core:ComputerEquipment 2024-12-31 03972772 core:AfterOneYear 2024-01-01 2024-12-31 03972772 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 03972772 core:AllAssociates 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: 03972772
KJS Properties Limited
Unaudited financial statements
31 December 2024
KJS Properties Limited
Statement of financial position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
1
1
Tangible assets
6
1,458,514
1,350,675
-----------
-----------
1,458,515
1,350,676
Current assets
Stocks
121,015
81,740
Debtors
7
141,341
149,391
Cash at bank and in hand
29,927
23,081
---------
---------
292,283
254,212
Creditors: Amounts falling due within one year
8
( 93,465)
( 62,670)
---------
---------
Net current assets
198,818
191,542
-----------
-----------
Total assets less current liabilities
1,657,333
1,542,218
Creditors: Amounts falling due after more than one year
9
( 232,924)
( 264,633)
Provisions
Taxation including deferred tax
( 15,606)
( 16,330)
-----------
-----------
Net assets
1,408,803
1,261,255
-----------
-----------
Capital and reserves
Called up share capital
3
3
Profit and loss account
10
1,408,800
1,261,252
-----------
-----------
Shareholders funds
1,408,803
1,261,255
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
KJS Properties Limited
Statement of financial position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 20 June 2025 , and are signed on behalf of the board by:
Mr S Phillips
Director
Company registration number: 03972772
KJS Properties Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sixty Six, North Quay, Great Yarmouth, Norfolk, NR30 1HE. The company's place of business is 56 Regent Road, Great Yarmouth Norfolk NR30 2AL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Judgements and key sources of estimation uncertainty
Estimates and judgements used in preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will, by definition seldom equal the related actual results. Any subsequent changes are accounted for with an effect on income at the time such updated information is available. The estimates and assumptions that have a significant effect on the carrying amounts of assets and liabilities are as follows: (i) Freehold investment properties Management judgements are required to ascertain the fair value of the freehold investment properties as at the reporting date.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over five years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
-
Over three years
Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 10 (2023: 10 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
5,000
------
Amortisation
At 1 January 2024 and 31 December 2024
4,999
------
Carrying amount
At 31 December 2024
1
------
At 31 December 2023
1
------
6. Tangible assets
Freehold property
Short leasehold property
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost or valuation
At 1 January 2024
1,290,000
53,840
27,800
26,835
1,398,475
Additions
848
4,503
3,605
8,956
Revaluations
110,000
110,000
-----------
----
-------
-------
-------
-----------
At 31 December 2024
1,400,000
848
58,343
27,800
30,440
1,517,431
-----------
----
-------
-------
-------
-----------
Depreciation
At 1 January 2024
19,090
14,735
13,975
47,800
Charge for the year
116
5,449
3,266
2,286
11,117
-----------
----
-------
-------
-------
-----------
At 31 December 2024
116
24,539
18,001
16,261
58,917
-----------
----
-------
-------
-------
-----------
Carrying amount
At 31 December 2024
1,400,000
732
33,804
9,799
14,179
1,458,514
-----------
----
-------
-------
-------
-----------
At 31 December 2023
1,290,000
34,750
13,065
12,860
1,350,675
-----------
----
-------
-------
-------
-----------
Tangible assets held at valuation
The directors revalued the freehold investment properties at 31 December 2024 by considering each individual property and estimating their market values based on the asking prices of similar properties for sale at the year end in the immediate vicinity of the freehold investment properties. If freehold investment properties had not been revalued they would have been included in the following amounts: 2024 2023 £ £
Cost 730,934 730,934
--------- ---------
7. Debtors
2024
2023
£
£
Trade debtors
17,809
Prepayments and accrued income
10,703
11,662
Other debtors
112,829
137,729
---------
---------
141,341
149,391
---------
---------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
38,281
31,387
Trade creditors
9,824
8,703
Accruals and deferred income
2,795
2,650
Corporation tax
21,612
7,762
Social security and other taxes
13,519
3,196
Director loan accounts
7,434
8,972
-------
-------
93,465
62,670
-------
-------
Bank loans and overdrafts are secured on the assets concerned.
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
232,924
264,633
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £120,000 (2023: £140,000) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
Bank loans and overdrafts are secured on the assets concerned.
10. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses. Within this reserve are cumulative unrealised gains on the company's freehold investment properties shown at market value of £669,066 (2023: £559,066).
11. Related party transactions
At the year end SP & KAP Holdings Limited owed £107,646 (2023: £133,046) to the company. SP & KAP Holdings Limited is the parent company.