REGISTERED NUMBER: 07534238 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

FJ CORPORATION LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs B Qureshi

REGISTERED OFFICE:

Langley House

53 Theobald Street

Borehamwood

WD6 4RT

REGISTERED NUMBER:

07534238 (England and Wales)

ACCOUNTANTS:

Accura Accountants Ltd

Langley House

53 Theobald Street

Borehamwood

WD6 4RT

FIXED ASSETS

Tangible assets

4

133,192

177,591

Investments

5

794,046

794,046

Investment property

6

17,845,731

17,817,500

18,772,969

18,789,137

CURRENT ASSETS

Debtors

7

5,293,515

5,410,992

Cash at bank

19,665

178,961

5,313,180

5,589,953

CREDITORS

Amounts falling due within one year

8

2,806,450

3,028,297

NET CURRENT ASSETS

2,506,730

2,561,656

TOTAL ASSETS LESS CURRENT LIABILITIES

21,279,699

21,350,793

CREDITORS

Amounts falling due after more than one year

9

(8,551,295

)

(8,616,351

)

PROVISIONS FOR LIABILITIES

(2,738,818

)

(1,644,345

)

NET ASSETS

9,989,586

11,090,097

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

11

8,216,454

8,340,105

Retained earnings

1,773,131

2,749,991

9,989,586

11,090,097

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 6 August 2026 and were signed by:

Mrs B Qureshi - Director

1.	STATUTORY INFORMATION

FJ Corporation Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Preparation of consolidated financial statements

The financial statements contain information about FJ Corporation Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery 25% reducing balance

Motor vehicles 25% reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

This is a departure from the Companies Act which requires assets to be depreciated. However, in the opinion of the directors, property is held primarily for their investment potential and so fair value is of more significance as a measure of consumption. They therefore have applied a true and fair override with respect to investment properties.

The directors have made key assumptions in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Taxation

Taxation for the year 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

321,133

DEPRECIATION

At 1 April 2024

143,542

Charge for year

44,399

At 31 March 2025

187,941

NET BOOK VALUE

At 31 March 2025

133,192

At 31 March 2024

177,591

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

2,046

792,000

794,046

NET BOOK VALUE

At 31 March 2025

2,046

792,000

794,046

At 31 March 2024

2,046

792,000

794,046

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

17,817,500

Additions

28,231

At 31 March 2025

17,845,731

NET BOOK VALUE

At 31 March 2025

17,845,731

At 31 March 2024

17,817,500

Fair value at 31 March 2025 is represented by:

£

Valuation in 2016

5,067,272

Valuation in 2018

4,139,783

Valuation in 2020

919,982

Valuation in 2021

429,735

Valuation in 2023

398,500

Cost

6,890,459

17,845,731

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

127,593

37,748

Amounts owed by participating interests

5,121,417

5,329,218

Other debtors

44,505

44,026

5,293,515

5,410,992

Included within other debtors are prepayments of £20,000 (2024: £19,521).

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

59,744

59,744

Hire purchase contracts

16,093

16,093

Trade creditors

1,105,550

1,147,746

Amounts owed to group undertakings

145,210

-

Amounts owed to participating interests

-

19,587

Taxation and social security

43,393

456,080

Other creditors

1,436,460

1,329,047

2,806,450

3,028,297

Included within other creditors are a provision for expenses of £3,500 (£2024: £Nil) and deferred income of £ 542,395 (2024: £560,126).

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

8,409,100

8,452,378

Hire purchase contracts

142,195

163,973

8,551,295

8,616,351

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

8,409,100

8,452,378

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

8,465,428

8,508,706

Bank loans are secured against companies assets by way of fixed and floating charge.

11.

RESERVES

Revaluation

reserve

£

At 1 April 2024

8,340,105

Adjustment for fair value

(123,651

)

At 31 March 2025

8,216,454

Revaluation reserve of £8,216,454 (2024: £8,340,105) represents the fair value adjustment of the investment properties less deferred tax. FRS 102 section 1A requires that the changes in fair value be recognised in the profit and loss, but that the fair value gains cannot be distributed to the shareholders as a dividend.

Deferred tax liability of £2,738,818 (2024: £1,644,345) has been provided on the investment property in accordance with the requirements of FRS 102 section 1A based on the potential capital gains tax payable if the properties were to be disposed of at a fair value. The deferred tax has been calculated based on the current corporation tax rate at 25%.