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Registration number: 03364921

JKL Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

JKL Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

JKL Limited

Company Information

Directors

Mr J K Long

Mrs N J Long

Company secretary

Mrs N J Long

Registered office

The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

Accountants

Wilkinsons Accountants Limited
Chartered Certified Accountants
The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

 

JKL Limited

(Registration number: 03364921)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

2,428,486

2,472,799

Current assets

 

Stocks

7

15,300

21,405

Debtors

8

2,216,863

2,397,543

Cash at bank and in hand

 

196,587

154,101

 

2,428,750

2,573,049

Creditors: Amounts falling due within one year

9

(409,365)

(474,949)

Net current assets

 

2,019,385

2,098,100

Total assets less current liabilities

 

4,447,871

4,570,899

Creditors: Amounts falling due after more than one year

9

(1,813,215)

(1,772,606)

Provisions for liabilities

(53,996)

(66,100)

Net assets

 

2,580,660

2,732,193

Capital and reserves

 

Called up share capital

100

100

Profit and loss account non-distributable

353,849

353,849

Profit and loss account distributable

2,226,711

2,378,244

Shareholders' funds

 

2,580,660

2,732,193

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 August 2025 and signed on its behalf by:
 

.........................................
Mr J K Long
Director

 

JKL Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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.

The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of sales of goods and services to customers.

Tax

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.

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 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.

 

JKL Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

not depreciated (see below)

Short leasehold property

in accordance with the lease

Plant and machinery

10% reducing balance

Motor vehicles

25% reducing balance

Fixtures and fittings

20% reducing balance

Computer equipment

25% reducing balance


Freehold buildings have not been depreciated during the year. The directors are of the opinion that as the buildings have been continuously repaired and maintained their residual value is not less than their carrying value.

Investment property

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with Financial Reporting Standard 102 Section 1A, as follows:
No depreciation is provided in respect of investment properties and they are valued under the fair value provisions annually. The surplus or deficit is transferred to the non-distributable profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

JKL Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 45 (2023 - 48).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

24,160

32,479

 

JKL Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

137,500

137,500

At 30 November 2024

137,500

137,500

Amortisation

At 1 December 2023

137,500

137,500

At 30 November 2024

137,500

137,500

Carrying amount

At 30 November 2024

-

-

6

Tangible assets

Land and buildings and Investment properties
£

Fixtures fittings and computer equipment
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 December 2023

2,636,913

398,669

103,015

71,849

3,210,446

Additions

6,209

5,980

-

-

12,189

Disposals

-

-

-

(37,500)

(37,500)

At 30 November 2024

2,643,122

404,649

103,015

34,349

3,185,135

Depreciation

At 1 December 2023

317,479

324,055

81,686

14,427

737,647

Charge for the year

-

16,320

5,332

2,508

24,160

Eliminated on disposal

-

-

-

(5,158)

(5,158)

At 30 November 2024

317,479

340,375

87,018

11,777

756,649

Carrying amount

At 30 November 2024

2,325,643

64,274

15,997

22,572

2,428,486

At 30 November 2023

2,319,434

74,614

21,328

57,423

2,472,799

Included within the net book value of land and buildings above is £2,325,642 (2023 - £2,319,433) in respect of freehold land and buildings and £1 (2023 - £1) in respect of short leasehold land and buildings. Investment properties have been measured at fair value by a director and not an independent valuer. Fair values are determined from market based evidence.
 

 

JKL Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

7

Stocks

2024
£

2023
£

Stock

15,300

21,405

8

Debtors

Note

2024
£

2023
£

Amounts owed by connected parties

 

1,834,755

2,029,222

Prepayments

 

10,693

12,114

Other debtors

12

371,415

356,207

 

2,216,863

2,397,543

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

65,758

157,289

Trade creditors

 

33,181

31,665

Taxation

 

77,948

33,425

Other tax and social security

 

103,734

95,248

Other creditors

 

128,744

157,322

 

409,365

474,949

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

1,813,215

1,772,606

Included in the loans and borrowings are the following amounts due after more than five years:

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

1,813,215

1,772,606

 

JKL Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

10

Loans and borrowings (continued)

2024
£

2023
£

Current loans and borrowings

Bank borrowings

65,758

157,289

Bank Security

The company has provided legal charges to lenders which are secured on the relevant freehold properties together with the banks standard debenture.

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £54,000 (2023 - £54,000). This includes annual rental and leasing commitments of £54,000 (2023 - £54,000)

12

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

Mr J K Long

Loan – interest charged, unsecured and repayable on demand

343,159

443,448

(429,853)

356,754

         
       

 

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr J K Long

Loan – interest charged, unsecured and repayable on demand

495,866

428,804

(581,510)

343,159