K J DISCOUNT MOTOR SPARES LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01707849 (England and Wales)

K J DISCOUNT MOTOR SPARES LTD

ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M K Raithatha

R V Raithatha

R M Raithatha

R Raithatha

S N Popat

SECRETARY:

R M Raithatha

REGISTERED OFFICE:

17 Sudbury Court Road

Harrow

Middlesex

HA1 3SD

REGISTERED NUMBER:

01707849 (England and Wales)

FIXED ASSETS

Investments

4

84,884

84,884

Investment property

5

2,092,879

2,011,169

2,177,763

2,096,053

CURRENT ASSETS

Debtors

6

1,878,891

2,072,663

Cash at bank

23,616

9,334

1,902,507

2,081,997

CREDITORS

Amounts falling due within one year

(75,108

)

(337,393

)

NET CURRENT ASSETS

1,827,399

1,744,604

TOTAL ASSETS LESS CURRENT LIABILITIES

4,005,162

3,840,657

CREDITORS

Amounts falling due after more than one year

7

(688,767

)

(578,125

)

PROVISIONS FOR LIABILITIES

(301,000

)

(319,000

)

NET ASSETS

3,015,395

2,943,532

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

1,553,572

1,535,572

Retained earnings

1,461,723

1,407,860

SHAREHOLDERS' FUNDS

3,015,395

2,943,532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 30 December 2019 and were signed on its behalf by:

R M Raithatha - Director

1.	STATUTORY INFORMATION

K J DISCOUNT MOTOR SPARES 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.

Income

Income represents rent receivable.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in the income statement and is ultimately shown in the fair value reserve. No

depreciation is provided on investment property.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet 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.

Fixed asset investments

Fixed asset investments are stated at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2018

and 31 March 2019

84,884

NET BOOK VALUE

At 31 March 2019

84,884

At 31 March 2018

84,884

The company's investments at the Balance Sheet date in the share capital of companies include the following:

K J D M S (Tamworth) Limited

Registered office: United Kingdom

Nature of business: Property Investment

%

Class of shares:

holding

Ordinary shares of £1 each

100.00

31.3.19

31.3.18

£

£

Aggregate capital and reserves

180,525

116,918

Profit for the year

63,607

65,252

K J D M S (Hemel) Limited

Registered office: United Kingdom

Nature of business: Property Investment

%

Class of shares:

holding

Ordinary shares of £1 each

100.00

31.3.19

31.3.18

£

£

Aggregate capital and reserves

710,148

675,903

Profit for the year

34,245

42,720

KJDMS (Harrow) Limited

Registered office: United Kingdom

Nature of business: Property Investment

%

Class of shares:

holding

Ordinary shares of £1 each

100.00

31.3.19

31.3.18

£

£

Aggregate capital and reserves

1,143,504

1,048,372

Profit for the year

74,732

69,941

KJDMS (Kingsbury) Limited

Registered office: United Kingdom

Nature of business: Property Investment

%

Class of shares:

holding

Ordinary shares of £1 each

100.00

31.3.19

31.3.18

£

£

Aggregate capital and reserves

(39,299

)

(10,735

)

Loss for the year

(28,564

)

(10,835

)

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

2,011,169

Additions

81,710

At 31 March 2019

2,092,879

NET BOOK VALUE

At 31 March 2019

2,092,879

At 31 March 2018

2,011,169

Fair value at 31 March 2019 is represented by:

£

Valuation in 2005

1,168,453

Valuation in 2017

686,119

Cost

238,307

2,092,879

The investment property is stated at fair value at the date of the balance sheet in the opinion of the directors

based on professional valuation carried out by Lamberts, Chartered Surveyors in June 2017.

6.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Other debtors

1,854,901

2,042,096

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.3.19

31.3.18

£

£

Repayable by instalments

Bank loans more than 5 years

by instalments

109,460

-

109,460

-

The bank loans are secured by debenture charging all assets and undertaking and by first charge on the freehold

properties of the company.

8.

RESERVES

Fair

value

reserve

£

At 1 April 2018

1,535,572

Movement on revaluation

18,000

At 31 March 2019

1,553,572