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REGISTERED NUMBER: 08354431 (England and Wales)













Unaudited Financial Statements

for the Period 1 April 2023 to 31 July 2024

for

JM Property Investments Limited

JM Property Investments Limited (Registered number: 08354431)






Contents of the Financial Statements
for the Period 1 April 2023 to 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JM Property Investments Limited

Company Information
for the Period 1 April 2023 to 31 July 2024







DIRECTOR: J J Maguire





REGISTERED OFFICE: Franks The Flooring Store
Linden House
Portrack Lane
STOCKTON ON TEES
Cleveland
TS18 2PS





REGISTERED NUMBER: 08354431 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

JM Property Investments Limited (Registered number: 08354431)

Balance Sheet
31 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 150,122 150,122
Tangible assets 5 48,368 68,010
Investments 6 4,929,007 4,929,007
Investment property 7 18,584,500 17,800,000
23,711,997 22,947,139

CURRENT ASSETS
Debtors 8 153,216 423,775
Cash at bank 196,435 341,308
349,651 765,083
CREDITORS
Amounts falling due within one year 9 (835,419 ) (2,960,782 )
NET CURRENT LIABILITIES (485,768 ) (2,195,699 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,226,229

20,751,440

CREDITORS
Amounts falling due after more than one
year

10

(9,949,737

)

(8,522,973

)

PROVISIONS FOR LIABILITIES 12 (964,921 ) (880,167 )
NET ASSETS 12,311,571 11,348,300

CAPITAL AND RESERVES
Called up share capital 13 125 100
Investment property
revaluations 3,322,093 3,040,843
Retained earnings 8,989,353 8,307,357
SHAREHOLDERS' FUNDS 12,311,571 11,348,300

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 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.

JM Property Investments Limited (Registered number: 08354431)

Balance Sheet - continued
31 July 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 April 2025 and were signed by:





J J Maguire - Director


JM Property Investments Limited (Registered number: 08354431)

Notes to the Financial Statements
for the Period 1 April 2023 to 31 July 2024

1. STATUTORY INFORMATION

JM Property Investments Limited 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 the provisions of Section 1a "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

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.

Related party exemption
All transactions entered into with companies under common control and directors were concluded under normal market conditions, therefore no further disclosure is necessary in accordance with FRS102 section 1A.

Turnover
Turnover represents net invoiced rents received on investment properties, excluding value added tax.

Income recognition
Rental income is recognised in accordance with the contractual terms of the lease.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Investment property
Investment property is included at fair value and gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
Basic financial instruments are recognised at amortised cost with charges recognised in profit or loss.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


JM Property Investments Limited (Registered number: 08354431)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 July 2024

2. ACCOUNTING POLICIES - continued
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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Fixed asset investments are recognised at cost less any provisions for impairment.
Investments are reviewed annually for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Licences
£   
COST
At 1 April 2023
and 31 July 2024 150,122
NET BOOK VALUE
At 31 July 2024 150,122
At 31 March 2023 150,122

JM Property Investments Limited (Registered number: 08354431)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 July 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 2,100 151,691 153,791
Additions - 55,356 55,356
Disposals - (151,691 ) (151,691 )
At 31 July 2024 2,100 55,356 57,456
DEPRECIATION
At 1 April 2023 455 85,326 85,781
Charge for period 560 14,393 14,953
Eliminated on disposal - (91,646 ) (91,646 )
At 31 July 2024 1,015 8,073 9,088
NET BOOK VALUE
At 31 July 2024 1,085 47,283 48,368
At 31 March 2023 1,645 66,365 68,010

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 July 2024 4,929,007
NET BOOK VALUE
At 31 July 2024 4,929,007
At 31 March 2023 4,929,007

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 17,800,000
Additions 409,500
Revaluations 375,000
At 31 July 2024 18,584,500
NET BOOK VALUE
At 31 July 2024 18,584,500
At 31 March 2023 17,800,000

JM Property Investments Limited (Registered number: 08354431)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 July 2024

7. INVESTMENT PROPERTY - continued

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2019 1,076,629
Valuation in 2020 325,000
Valuation in 2021 3,012,604
Valuation in 2022 854,982
Valuation in 2023 1,624,720
Valuation in 2024 375,000
Cost 11,315,565
18,584,500

Investment property was valued on a fair value basis on 17 January 2024 by Cluttons LLP .

Directors have assessed the valuation of investment properties based on current market value at the year end and believe there to be no significant changes in valuation.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,000 157,071
Other debtors 43 -
Amounts due from related
undertakings 138,533 265,243
Prepayments and accrued income 1,640 1,461
153,216 423,775

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 168,665 168,665
Trade creditors 23,873 47,376
Amounts owed to group undertakings 66,427 -
Taxation and social security 82,374 716,796
Other creditors 257 7,182
Directors' current accounts - 1,537,595
Accruals and deferred income 493,823 483,168
835,419 2,960,782

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,512,142 7,722,973
Amounts owed to related undertaking 2,437,595 800,000
9,949,737 8,522,973

JM Property Investments Limited (Registered number: 08354431)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 July 2024

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 7,680,807 7,891,638

The above facilities are secured by a fixed charge over the assets of the company.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 964,921 880,167

Deferred
tax
£   
Balance at 1 April 2023 880,167
Accelerated capital allowances (8,996 )
Tax impact of revaluations 93,750
Balance at 31 July 2024 964,921

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 A Ordinary £1 100 100
25 B Ordinary £1 25 -
125 100

25 £1 Ordinary B shares were issued during the period for par value.

The above classes of share capital rank pari pasu.

14. RELATED PARTY DISCLOSURES


2024 2023
£ £

Amounts due to directors - 1,537,595
No interest has been charged on credit balance.