ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

As restated

Registered number: 08709187

J JOHAL PROPERTIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

J JOHAL PROPERTIES LIMITED

REGISTERED NUMBER: 08709187

BALANCE SHEET

AS AT 30 SEPTEMBER 2024

		As restated
	2024	2023
Note	£	£

Fixed assets
Investment property	4		113,300		113,300
			113,300		113,300
Current assets
Debtors: amounts falling due within one year		232		-
Cash at bank and in hand		765		635
		997		635
Creditors: amounts falling due within one year	6	(49,194)		(50,898)
Net current liabilities			(48,197)		(50,263)
Total assets less current liabilities			65,103		63,037
Creditors: amounts falling due after more than one year			(64,774)		(64,453)

Net assets/(liabilities)			329		(1,416)

Capital and reserves
Called up share capital	9	100	100
Profit and loss account		229	(1,516)
		329	(1,416)

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J JOHAL PROPERTIES LIMITED

REGISTERED NUMBER: 08709187

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 September 2025.

Joe Johal

Director

The notes on pages 3 to 7 form part of these financial statements.

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J JOHAL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.	General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 08709187. The Company's registered office is 197 Causeway Green Road, Oldbury, Birmingham, England, B68 8LQ.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company

The following principal accounting policies have been applied:

2.2

Going concern

The director has prepared the accounts on a going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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J JOHAL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

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J JOHAL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 October 2023	113,300
	At 30 September 2024	113,300

The 2024 valuations were made by the directors, on an open market value for existing use basis.

Debtors

					2024	2023
					£	£


Prepayments and accrued income	232	-
	232	-

Corporation tax	114	-
Other creditors	48,000	50,198
Accruals and deferred income	1,080	700
	49,194	50,898

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J JOHAL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Bank loans	64,774	64,453
	64,774	64,453

The following liabilities were secured:
	2024	2023
	£	£


Bank loan	64,774	64,453
	64,774	64,453

Details of security provided:

Bank loans are secured against the assets of the company and contain fixed charges and a negative pledge.




Amounts falling due after more than 5 years
Bank loans	64,774	64,453
	64,774	64,453
	64,774	64,453

9.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

100 (2023 - 100) Ordinary shares of £1.00 each	100	100

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J JOHAL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.	Related party transactions
	As at the balance sheet date £48,000 (2023: £50,198) was due to the director. The loan is interest free and repayable on demand.

11.	Prior year adjustment

There was a prior year adjustment to reduce repairs by £3,734 which as a result redcued the directors loan account.

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