1 September 2023 false No description of principal activity Taxfiler 2024.6 12169115business:PrivateLimitedCompanyLtd2023-09-012024-08-31 121691152023-08-31 121691152023-09-012024-08-31 12169115business:AuditExempt-NoAccountantsReport2023-09-012024-08-31 12169115business:FilletedAccounts2023-09-012024-08-31 121691152024-08-31 121691152023-08-31 12169115core:WithinOneYear2024-08-31 12169115core:WithinOneYear2023-08-31 12169115core:AfterOneYear2024-08-31 12169115core:AfterOneYear2023-08-31 12169115core:ShareCapitalcore:PreviouslyStatedAmount2024-08-31 12169115core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 12169115core:RevaluationReservecore:PreviouslyStatedAmount2024-08-31 12169115core:RevaluationReservecore:PreviouslyStatedAmount2023-08-31 12169115core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-08-31 12169115core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 12169115core:PreviouslyStatedAmount2024-08-31 12169115core:PreviouslyStatedAmount2023-08-31 12169115business:SmallEntities2023-09-012024-08-31 12169115business:Director12023-09-012024-08-31 12169115countries:EnglandWales2023-09-012024-08-31 12169115business:RegisteredOffice2023-09-012024-08-31 12169115core:LandBuildings2023-09-012024-08-31 12169115core:PlantMachinery2023-09-012024-08-31 12169115core:FurnitureFittings2023-09-012024-08-31 12169115core:LandBuildings2023-08-31 12169115core:PlantMachinery2023-08-31 12169115core:FurnitureFittings2023-08-31 12169115core:LandBuildings2024-08-31 12169115core:PlantMachinery2024-08-31 12169115core:FurnitureFittings2024-08-31 12169115core:LandBuildings2023-08-31 12169115core:AfterOneYear2023-09-012024-08-31 121691152022-09-012023-08-31 iso4217:GBP xbrli:pure
Company Registration No. 12169115 (England and Wales)
KJB Asset Holdings Ltd Unaudited accounts for the year ended 31 August 2024
KJB Asset Holdings Ltd Unaudited accounts Contents
Page
- 2 -
KJB Asset Holdings Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
239,202 
216,725 
Current assets
Debtors
132,454 
107,904 
Cash at bank and in hand
58,112 
5,528 
190,566 
113,432 
Creditors: amounts falling due within one year
(276,506)
(239,916)
Net current liabilities
(85,940)
(126,484)
Total assets less current liabilities
153,262 
90,241 
Creditors: amounts falling due after more than one year
(46,832)
(22,533)
Provisions for liabilities
Deferred tax
(6,719)
(6,367)
Net assets
99,711 
61,341 
Capital and reserves
Called up share capital
120 
120 
Revaluation reserve
18,118 
18,118 
Profit and loss account
81,473 
43,103 
Shareholders' funds
99,711 
61,341 
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by
Lisa Cherie Simmonds Director Company Registration No. 12169115
- 3 -
KJB Asset Holdings Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
KJB Asset Holdings Ltd is a private company, limited by shares, registered in England and Wales, registration number 12169115. The registered office is 24 Red Lion Lane, Norton Canes , CANNOCK, Staffordshire, WS11 9QP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% on cost on buildings only
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred taxation is provided at 25% of any freehold revaluation surplus. Deferred tax assets and liabilities are not discounted.
- 4 -
KJB Asset Holdings Ltd Notes to the Accounts for the year ended 31 August 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 September 2023
215,000 
2,624 
458 
218,082 
Additions
20,624 
- 
2,536 
23,160 
At 31 August 2024
235,624 
2,624 
2,994 
241,242 
Depreciation
At 1 September 2023
- 
1,142 
215 
1,357 
Charge for the year
- 
296 
387 
683 
At 31 August 2024
- 
1,438 
602 
2,040 
Net book value
At 31 August 2024
235,624 
1,186 
2,392 
239,202 
At 31 August 2023
215,000 
1,482 
243 
216,725 
2024 
2023 
£ 
£ 
Carrying amount of land and buildings on cost basis
213,220 
192,596 
The Freehold Land and Building, including the Fishery Lake, were valued at £215,000 by the directors on 31st August 2023. Expenditure after that date has been included at cost without any depreciation charge. The Directors consider the value of land and buildings to be in excess of its net book value.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
132,454 
107,904 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
15,299 
9,990 
VAT
21,963 
15,543 
Trade creditors
41,761 
18,332 
Taxes and social security
26,662 
15,898 
Other creditors
20,773 
- 
Loans from directors
140,169 
179,203 
Accruals
9,879 
950 
276,506 
239,916 
- 5 -
KJB Asset Holdings Ltd Notes to the Accounts for the year ended 31 August 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
46,832 
22,533 
The Bounceback bank loan is repayable within five years and is unsecured. The company entered into a further Bank loan in the year that is secured by a fixed and floating legal mortgage over the company's freehold and leasehold property and certain plant and machinery and trade fixtures and fittings. This loan is repayable within 5 years.
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).
- 6 -