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Registration number: 05282624

J.K.L.(Enterprises) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

J.K.L.(Enterprises) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

J.K.L.(Enterprises) 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

 

J.K.L.(Enterprises) Limited

(Registration number: 05282624)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,836,597

4,142,084

Current assets

 

Stocks

5

413,117

1,889,314

Debtors

6

587,736

535,555

Cash at bank and in hand

 

166,796

144,443

 

1,167,649

2,569,312

Creditors: Amounts falling due within one year

7

(1,483,007)

(2,188,247)

Net current (liabilities)/assets

 

(315,358)

381,065

Total assets less current liabilities

 

4,521,239

4,523,149

Creditors: Amounts falling due after more than one year

7

(2,488,368)

(2,528,173)

Provisions for liabilities

(68,841)

(68,841)

Net assets

 

1,964,030

1,926,135

Capital and reserves

 

Called up share capital

100

100

Profit and loss account non-distributable

373,326

373,326

Profit and loss account distributable

1,590,604

1,552,709

Shareholders' funds

 

1,964,030

1,926,135

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

 

J.K.L.(Enterprises) 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Where properties are purchased, developed and sold, the profit and loss recognition point in the accounts is based on legal completion of the transaction.

Rental income received from Investment properties is shown as other operating income.

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.

 

J.K.L.(Enterprises) Limited

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

2

Accounting policies (continued)

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.

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

Plant and machinery

25% reducing balance

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.

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.

 

J.K.L.(Enterprises) 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.

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 1 (2023 - 2).

 

J.K.L.(Enterprises) Limited

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

4

Tangible assets

Investment properties
£

Plant and machinery
 £

Total
£

Cost or valuation

At 1 December 2023

4,142,084

5,500

4,147,584

Additions

694,513

-

694,513

At 30 November 2024

4,836,597

5,500

4,842,097

Depreciation

At 1 December 2023

-

5,500

5,500

At 30 November 2024

-

5,500

5,500

Carrying amount

At 30 November 2024

4,836,597

-

4,836,597

At 30 November 2023

4,142,084

-

4,142,084

Included within the net book value of Investment properties above is £4,836,597 (2023 - £4,142,084) in respect of freehold land and buildings. Investment properties have been measured at fair value by the director and not an independent valuer. Fair values are determined from market based evidence.
 

5

Stocks

2024
£

2023
£

Stocks

413,117

1,889,314

6

Debtors

2024
£

2023
£

Trade debtors

3,505

2,983

Prepayments

6,542

2,113

Other debtors

577,689

530,459

587,736

535,555

 

J.K.L.(Enterprises) Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

37,258

623,649

Amounts owed to connected parties

 

1,262,453

1,477,317

Taxation and social security

 

133,346

39,315

Accruals and deferred income

 

3,880

3,730

Other creditors

 

46,070

44,236

 

1,483,007

2,188,247

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

2,488,368

2,528,173

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

2024
£

2023
£

Due after more than five years

After more than five years by instalments

-

2,393,083

-

-

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Profit and loss reserve on revaluation
£

Retained earnings
£

Total
£

Fair value gains, net of deferred tax

-

8,954

8,954

Surplus/deficit on revaluation of other assets

(8,954)

-

(8,954)

(8,954)

8,954

-

 

J.K.L.(Enterprises) Limited

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

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

2,488,368

2,528,173

2024
£

2023
£

Current loans and borrowings

Bank borrowings

37,258

623,649


Bank Security

Bank borrowings are secured by way of a legal charge on the company's freehold properties and the banks standard debenture.

10

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 - 2.25% unsecured and repayable on demand

360,017

282,176

(642,193)

-

         
       

 

2023

At 1 December 2022
£

Advances to director
£

At 30 November 2023
£

Mr J K Long

Loan – interest 2.5% unsecured and repayable on demand

-

360,017

360,017