J Housing Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 13980219 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

FOR

J HOUSING LTD

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Investment property

4

5,650,000

3,780,000

CURRENT ASSETS

Debtors

5

1,040

227,978

Cash at bank and in hand

11,599

82

12,639

228,060

CREDITORS

Amounts falling due within one year

6

66,665

2,786,438

NET CURRENT LIABILITIES

(54,026

)

(2,558,378

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,595,974

1,221,622

CREDITORS

Amounts falling due after more than one year

7

(3,750,000

)

(1,239,016

)

PROVISIONS FOR LIABILITIES

9

(497,282

)

(30,000

)

NET ASSETS/(LIABILITIES)

1,348,692

(47,394

)

CAPITAL AND RESERVES

Called up share capital

11

10

Share premium

396,229

-

Fair value reserve

10

1,491,845

89,127

Retained earnings

(539,393

)

(136,531

)

1,348,692

(47,394

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2025 and were signed by:

Mr A Alidina - Director

1.	STATUTORY INFORMATION

J Housing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

13980219

Registered office:

1 Kings Avenue

London

N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial

Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue

Revenue represents the value of rental income chargeable in respect of the company's investment property. Revenue is recognised evenly over the period of the rental agreement.

Investment property

Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cash and cash equivalent

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Change in comparatives

The accounts have been prepared for 11 months where as the comparatives are for a period of 13 months.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2023

3,780,000

Revaluations

1,870,000

At 31 May 2024

5,650,000

NET BOOK VALUE

At 31 May 2024

5,650,000

At 30 June 2023

3,780,000

Fair value at 31 May 2024 is represented by:

£

Valuation in 2023

119,127

Valuation in 2024

1,870,000

Cost

3,660,873

5,650,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

Cost

3,660,873

The directors consider the market value of the investment property at the period end to be as stated in the accounts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other debtors

1,040

227,978

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

-

2,500,000

Trade creditors

120

-

Other creditors

66,545

286,438

66,665

2,786,438

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans

3,750,000

-

Other creditors

-

1,239,016

3,750,000

1,239,016

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

3,750,000

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

3,750,000

2,500,000

Bank loan is secured by way of fixed and floating charge on the properties and other assets of the company and contains a negative pledge.

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

497,282

30,000

Deferred

tax

£

Balance at 1 July 2023

30,000

Provided during period

467,282

Balance at 31 May 2024

497,282

10.

RESERVES

Fair

value

reserve

£

At 1 July 2023

89,127

Movement during the year

1,402,718

At 31 May 2024

1,491,845

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other debtors less than one year is amount of £30 (2023: £Nil) due from a connected company with common directorship and control. The loan remains interest free and recoverable on demand.

Included in other creditors less than one year is an amount of £13,242 (2023: £Nil) due to a connected company with common directorship and control. Also included is an amount of £Nil (2023: £76,346) due to the director of the company. The loan remains interest free and repayable on demand.