Registered number
NI603952
JPM PROPERTIES (NI) LIMITED
Report and Financial Statements
For the Year Ended
31 January 2025
JPM PROPERTIES (NI) LIMITED
Report and Financial Statements
for the year ended 31 January 2025
Contents
Page
Company information 2
Directors' report 3
Statement of directors' responsibilities 4
Strategic report 5
Independent auditor's report 6-9
Profit and loss account 10
Statement of comprehensive income 11
Balance sheet 12
Statement of changes in equity 13
Statement of cash flows 14
Notes to the financial statements 15-23
JPM PROPERTIES (NI) LIMITED
Report and Financial Statements
for the year ended 31 January 2025
Company Information
Directors
Mr Patrick McParland
Mr John McParland
Miss Mairead McParland
Secretary
Miss Eimear McArdle
Auditors
Fitzpatrick & Kearney Ltd
Chartered Accountants
& Registered Auditors
10c Marcus Square
Newry
Co. Down
BT34 1AE
Bankers
AIB (NI)
42/44 Hill Street
Newry
Co. Down
BT34 1AU
Allied Irish Bank
96 Clanbrassil Street
Dundalk
Co. Louth
Solicitors
Mills Selig
Solicitors
21 Arthur Street
Belfast
BT1 4GA
Registered office
29-32 Merchants Quay
Newry
Co. Down
BT35 8HF
Registered number
NI603952
JPM PROPERTIES (NI) LIMITED
Report and Financial Statements
for the year ended 31 January 2025
Registered number: NI603952
Directors' Report
The directors present their report and the audited financial statements of the company for the year ended 31 January 2025.
Principal activities
The company's principal activity during the year continued to be the operation of a hotel.
Future developments
The company does not intend to change its activities significantly in the coming year.
Dividends
The results for the year are set out on page 10.
No dividends were paid during the year.
Directors
The following persons served as directors during the year:
Mr John McParland
Mr Patrick McParland
Miss Mairead McParland
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
so far as he/she are aware, there is no relevant audit information of which the company's auditor is unaware; and
he/she has taken all the steps that he/she ought to have taken as a director in order to make himself/herself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board on 23 May 2025 and signed on its behalf.
Mr John McParland Mr Patrick McParland
Director Director
JPM PROPERTIES (NI) LIMITED
Report and Financial Statements
for the year ended 31 January 2025
Statement of Directors' Responsibilities
The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
JPM PROPERTIES (NI) LIMITED
Report and Financial Statements
for the year ended 31 January 2025
Strategic Report
The directors consider that the risks to the company's growth remain with the general economic uncertainty that exists in the marketplace, in particular how the cost of living crisis implications will impact upon the market in the short and medium term.
The directors remain confident that their policy of providing exceptional customer service and their awareness of the current industry will allow the company to return to trading profitably in the foreseeable future. Any risks from competitors is managed through close attention to quality of service provision.
The company has sufficient cash funds to allow it to take advantage of any growth opportunities that arise within the local market. The company's liquidity remains strong. The company has budgetary and financial reporting procedures, supported by key performance indicators to manage credit, liquidity and other financial risk.
This report was approved by the board on 23 May 2025 and signed by its order.
Mr John McParland
Secretary
JPM PROPERTIES (NI) LIMITED
Report and Financial Statements
for the year ended 31 January 2025
Independent auditor's report
to the members of JPM PROPERTIES (NI) LIMITED
Opinion
We have audited the financial statements of JPM Properties (NI) Limited for the year ended 31 January 2025 which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS102 "The Financial Reporting Standard applicable in the UK and the Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis of opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Our evaluation of the directors’ assessment of the company’s ability to continue to adopt the going concern basis of accounting included the following;
We considered as part of our risk assessment of the nature of the company, its business model and related risks including the impact of the cost of living crisis, the requirements of the applicable financial reporting framework and the system of internal control. We evaluated the directors’ assessment of the company's ability to continue as a going concern, including challenging the underlying data and key assumptions used to make the assessment, and evaluated the directors’ plans for future actions in relation to their going concern assessment.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the report and financial statements, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit;
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:
Identifying and Assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
the nature of the industry and sector, control environment and business performance;
results of our enquiries of management and other group auditors about their own identification and assessment of the risks of irregularities;
any matters we identified having obtained from management whether they were aware of any instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud; and reviewing the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and
the matters discussed among the audit engagement team regarding how and where fraud might occur in the accounts and any potential indicators of fraud.
As a result of these procedures, we identified the greatest potential for fraud in the areas in which management is required to exercise significant judgement. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory framework that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, pensions and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or to avoid a material penalty. These included data protection, employment, environmental and health and safety regulations.
Audit response to risks identified
As a result of performing the above, we identified the potential for management override of the controls as a key audit matter related to the potential risk of fraud. Our procedures to respond to the risks identified included the following:
reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
enquiring of management concerning actual and potential litigation and claims;
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and
in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Brian Delahunt FCA
(Senior Statutory Auditor)
For and on behalf of
Fitzpatrick & Kearney Ltd
Chartered Accountants and Statutory Auditors
10c Marcus Square
Newry
Co. Down
BT34 1AE
23 May 2025
JPM PROPERTIES (NI) LIMITED
Profit and Loss Account
for the year ended 31 January 2025
Notes 2025 2024
£ £
Turnover 4 9,418,823 8,988,934
Cost of sales (2,274,181) (2,191,064)
Gross profit 7,144,642 6,797,870
Administrative expenses (7,139,155) (7,226,526)
Other operating income 69,040 66,702
Operating profit/(loss) 5 74,527 (361,954)
Interest receivable 3,628 470
Interest payable 7 (86,257) (93,613)
(Loss) on ordinary activities before taxation (8,102) (455,097)
Tax on loss on ordinary activities 8 900 91,115
(Loss) for the financial year (7,202) (363,982)
JPM PROPERTIES (NI) LIMITED
Statement of comprehensive income
for the year ended 31 January 2025
Notes 2025 2024
£ £
(Loss) for the financial year (7,202) (363,982)
Other comprehensive income - -
Total comprehensive income for the year (7,202) (363,982)
JPM PROPERTIES (NI) LIMITED
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 9 7,675,564 7,922,389
Current assets
Stocks 10 168,042 204,031
Debtors 12 3,339,287 3,364,808
Cash at bank and in hand 1,348,286 1,360,241
4,855,615 4,929,080
Creditors: amounts falling due within one year 13 (1,502,335) (1,457,727)
Net current assets 3,353,280 3,471,353
Total assets less current liabilities 11,028,844 11,393,742
Creditors: amounts falling due after more than one year 14 (797,988) (1,101,793)
Provisions for liabilities
Deferred taxation 16 (179,085) (232,976)
Net assets 10,051,771 10,058,973
Capital and reserves
Called up share capital 17 101 101
Share premium 18 - 7,787,570
Profit and loss account 19 10,051,670 2,271,302
Total equity 10,051,771 10,058,973
Mr John McParland Mr Patrick McParland
Director Director
Approved by the board on 23 May 2025
JPM PROPERTIES (NI) LIMITED
Statement of Changes in Equity
for the year ended 31 January 2025
Share Share Profit Total
capital premium and loss
account
£ £ £ £
At 1 February 2023 101 7,787,570 2,755,284 10,542,955
(Loss) for the financial year (363,982) (363,982)
Dividends (120,000) (120,000)
At 31 January 2024 101 7,787,570 2,271,302 10,058,973
At 1 February 2024 101 7,787,570 2,271,302 10,058,973
(Loss) for the financial year (7,202) (7,202)
Transfer to Profit & Loss Reserve (7,787,570) 7,787,570 -
At 31 January 2025 101 - 10,051,670 10,051,771
JPM PROPERTIES (NI) LIMITED
Statement of Cash Flows
for the year ended 31 January 2025
Notes 2025 2024
£ £
Operating activities
(Loss) for the financial year (7,202) (363,982)
Adjustments for:
Interest receivable (3,628) (470)
Interest payable 86,257 93,613
Tax on loss on ordinary activities (900) (91,115)
Depreciation 356,790 367,246
Decrease/(increase) in stocks 35,989 (58,947)
Decrease/(increase) in debtors 25,521 (47,626)
Decrease in creditors (64,159) (50,854)
428,668 (152,135)
Interest received 3,628 470
Interest paid (86,257) (93,613)
Corporation tax paid (19,328) (72,471)
Cash generated by/(used in) operating activities 326,711 (317,749)
Investing activities
Payments to acquire tangible fixed assets (109,965) (250,292)
Cash used in investing activities (109,965) (250,292)
Financing activities
Equity dividends paid - (120,000)
Repayment of loans (228,701) (187,973)
Cash used in financing activities (228,701) (307,973)
Net cash used
Cash generated by/(used in) operating activities 326,711 (317,749)
Cash used in investing activities (109,965) (250,292)
Cash used in financing activities (228,701) (307,973)
Net cash used (11,955) (876,014)
Cash and cash equivalents at 1 February 1,360,241 2,236,254
Cash and cash equivalents at 31 January 1,348,286 1,360,241
Cash and cash equivalents comprise:
Cash at bank 1,348,286 1,360,241
JPM PROPERTIES (NI) LIMITED
Notes to the Financial Statements
for the year ended 31 January 2025
1 General Information
JPM Properties (NI) Limited is a private company limited by shares incorporated in Northern Ireland. Canal Court Hotel, 29-32 Merchants Quay, Newry, Co. Down, Northern Ireland, BT35 8HF is the registered office, which is also the place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The company's registration number is NI603952.
2 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The financial statements are presented in Sterling which is the functional currency of the company's operations.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Motor vehicles over 7 years
Equipment over 7 years
Fixtures and fittings over 7 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Government grants
The company receives government grants in respect of apprenticeship schemes. These grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance/accrual model.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Employee benefits
The company provides a range of benefits to employees including paid holiday arrangements and defined contribution pension plans.
(i) Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.
(ii) Defined contribution pension plans
The company operates a defined contribution plan. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate fund. Under defined contribution plans, the company has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
3 Critical accounting estimates and judgements
The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements.
Going Concern : The directors have prepared budgets and cash flows for a period of at least twelve months from the date of approval of the financial statements which demonstrate that there is no material uncertainty regarding the company's ability to meet its liabilities as they fall due, and to continue as a going concern. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. Accordingly, these financial statements do not include any adjustments to the carrying amounts and classification of assets and liabilities that may arise if the company was unable to continue as a going concern.
Impairment of Trade Debtors : The company trade with a large and varied number of customers on credit terms. Some debts will not be paid through the default of a small number of customers. The company uses estimate based on historical experience and current information in determining the level of debts for which an impairment charge is required. The level of impairment required is reviewed on an ongoing basis. The total trade debtors is £107,911
Impairment of Stocks : The company holds stocks amounting to £168,042 at the financial year end date. The directors are of the view that an adequate charge has been made to reflect the possibility of stocks being sold at less than cost. However, this estimate is subject to inherent uncertainty.
Useful Lives of Tangible and Intangible Fixed Assets : Long-lived assets comprising primarily of property and plant and machinery represent a significant portion of total assets. The annual depreciation charge depends primarily on the estimated lives of each type of asset and, in certain circumstances, estimates of residual values. The directors regularly review these useful lives and change them if necessary to reflect current conditions. In determining these useful lives management consider physical condition and expected economic utilisation of the assets. Changes in the useful lives can have a significant impact on the depreciation charge for the year. The net book value of Tangible Fixed Assets subject to depreciation at the financial year end was £7,675,564.
4 Analysis of turnover 2025 2024
£ £
Sale of goods and services connected with the hospitality industry 9,418,823 8,988,934
By geographical market:
United Kingdom 9,418,823 8,988,934
5 Operating profit 2025 2024
£ £
This is stated after charging:
Depreciation of owned fixed assets 356,790 367,246
Auditors' remuneration for audit services 10,250 10,000
6 Staff costs 2025 2024
£ £
Wages and salaries 4,063,096 4,186,249
Social security costs 315,903 326,255
Other pension costs 83,084 103,420
4,462,083 4,615,924
Average number of employees including directors during the year 2025 2024
No. No.
Management, administration, production & sales 228 233
2025 2024
£ £
Directors emoluments 205,450 212,000
7 Interest payable 2025 2024
£ £
Bank loans and overdrafts 86,257 93,613
8 Taxation 2025 2024
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 52,991 (71,406)
Deferred tax:
Origination and reversal of timing differences (53,891) (19,709)
Tax on (loss) on ordinary activities (900) (91,115)
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2025 2024
£ £
(Loss) on ordinary activities before tax (8,102) (455,097)
Standard rate of corporation tax in the UK 25% 19%/25%
£ £
Profit on ordinary activities multiplied by the standard rate of corporation tax (2,025) (86,468)
Effects of:
Expenses not deductible for tax purposes 1,125 83
Capital allowances for the period below (in excess of) depreciation 53,891 14,979
Current tax charge for period 52,991 (71,406)
9 Tangible fixed assets
Land and buildings Motor Vehicles Equipment Fixtures & Fittings Total
At cost At cost At cost At cost
£ £ £ £ £
Cost or valuation
At 1 February 2024 11,047,298 21,260 3,579,382 3,182,851 17,830,791
Additions - - 64,336 45,629 109,965
At 31 January 2025 11,047,298 21,260 3,643,718 3,228,480 17,940,756
Depreciation
At 1 February 2024 3,687,592 17,111 3,329,941 2,873,758 9,908,402
Charge for the year 157,248 1,037 70,070 128,435 356,790
At 31 January 2025 3,844,840 18,148 3,400,011 3,002,193 10,265,192
Carrying amount
At 31 January 2025 7,202,458 3,112 243,707 226,287 7,675,564
At 31 January 2024 7,359,706 4,149 249,441 309,093 7,922,389
The cost of non-depreciable assets included in land and buildings at 31st January 2025 was £Nil.
10 Stocks 2025 2024
£ £
Finished goods and goods for resale 168,042 204,031
There are no material differences between the balance sheet value of stock and their replacement stock.
11 Financial instruments 2025 2024
£ £
Carrying amount of financial assets
Debt instruments at amortised cost
Trade debtors 107,911 124,620
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,215,915 2,185,000
Other debtors 781,752 729,915
3,105,578 3,039,535
Equity instruments measured at cost less impairment 3 3
Carrying amount of financial liabilities
Bank loans and overdrafts 1,044,884 1,273,585
Trade creditors 380,297 521,316
1,425,181 1,794,901
12 Debtors 2025 2024
£ £
Trade debtors 107,911 124,620
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,215,915 2,185,000
Corporation tax - 90,735
Other debtors 781,752 729,915
Prepayments and accrued income 233,709 234,538
3,339,287 3,364,808
13 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 252,126 182,242
Trade creditors 380,297 521,316
Corporation tax 33,663 -
Other taxes and social security costs 169,190 227,030
Accruals and deferred income 667,059 527,139
1,502,335 1,457,727
14 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 792,758 1,091,343
Deposits and vouchers > 1 year 5,230 10,450
797,988 1,101,793
15 Loans 2025 2024
£ £
Loans not wholly repayable within five years: 1,044,884 1,273,585
Bank loan terms of repayment are noted below. The interest is payable as at 31st January 2025 at 6% and 8.75% on the principal amount.
Analysis of maturity of debt:
Within one year or on demand 252,126 182,242
Between one and two years 185,062 190,876
Between two and five years 56,691 291,254
After five years 551,005 609,213
1,044,884 1,273,585
The bank loan is secured by a fixed charge and a floating charge in relation to all that property known as lands and premises situate at Merchants Quay, Newry, Co, Down including the Canal Court Hotel being comprised in the following: Folios DN96129L, DN149027 and DN244157L all County Down.
16 Deferred taxation 2025 2024
£ £
Accelerated capital allowances 179,085 232,976
2025 2024
£ £
At 1 February 232,976 252,685
Credited to the profit and loss account (53,891) (19,709)
At 31 January 179,085 232,976
17 Share capital Nominal 2025 2025 2024
value Number £ £
Allotted, called up and fully paid:
1 Ordinary C Shares £1 each 1 1 1
100 Ordinary Shares £1 each 1 100 100
101 101
The rights attached to the A and C Shares are as follows:
The A shares shall be entitled to one vote per share. All shares participate equally on a distribution of capital whether by way of dividend or on winding up. The shares are not redeemable.
The C shares have no voting rights. The C shares have no rights to share in the profits of the company. On a repayment of capital the shares carry rights to repayment of the nominal value of the C ordinary shares in priority to payments of the other shareholders. The shares carry the right to appoint the majority of the directors. The shares are not redeemable.
18 Share premium 2025 2024
£ £
At 1 February 7,787,570 7,787,570
Transfer (to) Profit & Loss Reserve (7,787,570) -
At 31 January - 7,787,570
On 16th December 2024, the members passed a resolution whereby the share premium account was reduced
and credited to a distributable reserve. All necessary documentation was completed and submitted to
Companies House.
19 Profit and loss account 2025 2024
£ £
At 1 February 2,271,302 2,755,284
(Loss) for the financial year (7,202) (363,982)
Dividends - (120,000)
Transfer from Share Premium Reserve 7,787,570 -
At 31 January 10,051,670 2,271,302
20 Dividends 2025 2024
£ £
Dividends on ordinary shares (note 19) - 120,000
21 Events after the reporting date
There were no events since the balance sheet date which would necessitate a change in the above figures.
22 Related party transactions
McParland Brothers Builders Ltd, McParland Bros. and Carrickdale Enterprises Ltd are related parties through common directorship. The movements on these accounts and outstanding balances are as follows:
Carrickdale McParland
Enterprises McParland Brothers
Ltd Bros. Builders Ltd
£ £ £
Opening balance at 01.02.2024 195,300 464 1,989,236
Sales 18,645 266 -
Purchases (1,552) (63,000) -
Payments made 1,552 187,536 -
Payments received (12,532) (100,000) -
Closing balance at 31.01.2025 201,413 25,266 1,989,236
The comparatives in relation to related party transactions are as follows:
Carrickdale McParland
Enterprises McParland Brothers
Ltd Bros. Builders Ltd
£ £ £
Opening balance at 01.02.2023 195,300 1,144 1,989,236
Sales 29,757 392 -
Purchases (22,012) -
Payments made 22,012 -
Payments received (29,757) (1,072) -
Closing balance at 31.01.2024 195,300 464 1,989,236
23 Controlling party
The ultimate controlling parties of the company are John McParland and Patrick McParland.
JPM PROPERTIES (NI) LIMITED NI603952 false 2024-02-01 2025-01-31 2025-01-31 VT Final Accounts April 2025 NI603952 2023-02-01 2024-01-31 NI603952 bus:AllOrdinaryShares core:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 NI603952 countries:UnitedKingdom 2023-02-01 2024-01-31 NI603952 core:OwnedAssets 2023-02-01 2024-01-31 NI603952 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 NI603952 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 NI603952 bus:AllOrdinaryShares 2023-02-01 2024-01-31 NI603952 core:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 NI603952 core:WithinOneYear 2024-01-31 NI603952 core:AfterOneYear 2024-01-31 NI603952 core:ShareCapital 2024-01-31 NI603952 core:SharePremium 2024-01-31 NI603952 core:RetainedEarningsAccumulatedLosses 2024-01-31 NI603952 1 2024-01-31 NI603952 core:BetweenOneTwoYears 2024-01-31 NI603952 core:BetweenTwoFiveYears 2024-01-31 NI603952 core:MoreThanFiveYears 2024-01-31 NI603952 core:AllPeriods 2024-01-31 NI603952 core:AcceleratedTaxDepreciationDeferredTax 2024-01-31 NI603952 2023-01-31 NI603952 core:ShareCapital 2023-01-31 NI603952 core:SharePremium 2023-01-31 NI603952 core:RetainedEarningsAccumulatedLosses 2023-01-31 NI603952 2024-02-01 2025-01-31 NI603952 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 NI603952 bus:Audited 2024-02-01 2025-01-31 NI603952 bus:Director1 2024-02-01 2025-01-31 NI603952 bus:Director2 2024-02-01 2025-01-31 NI603952 bus:Director3 2024-02-01 2025-01-31 NI603952 bus:CompanySecretary1 2024-02-01 2025-01-31 NI603952 core:RetainedEarningsAccumulatedLosses 2024-02-01 2025-01-31 NI603952 1 2024-02-01 2025-01-31 NI603952 2 2024-02-01 2025-01-31 NI603952 countries:UnitedKingdom 2024-02-01 2025-01-31 NI603952 core:OwnedAssets 2024-02-01 2025-01-31 NI603952 core:LandBuildings 2024-02-01 2025-01-31 NI603952 core:VehiclesPlantMachinery 2024-02-01 2025-01-31 NI603952 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 NI603952 bus:OrdinaryShareClass1 2024-02-01 2025-01-31 NI603952 bus:OrdinaryShareClass2 2024-02-01 2025-01-31 NI603952 bus:AllOrdinaryShares 2024-02-01 2025-01-31 NI603952 bus:AllOrdinaryShares core:RetainedEarningsAccumulatedLosses 2024-02-01 2025-01-31 NI603952 1 2024-02-01 2025-01-31 NI603952 bus:FRS102 2024-02-01 2025-01-31 NI603952 bus:FullAccounts 2024-02-01 2025-01-31 NI603952 2025-01-31 NI603952 core:WithinOneYear 2025-01-31 NI603952 core:AfterOneYear 2025-01-31 NI603952 core:ShareCapital 2025-01-31 NI603952 core:SharePremium 2025-01-31 NI603952 core:RetainedEarningsAccumulatedLosses 2025-01-31 NI603952 core:LandBuildings 2025-01-31 NI603952 core:VehiclesPlantMachinery 2025-01-31 NI603952 core:FurnitureFittingsToolsEquipment 2025-01-31 NI603952 1 2025-01-31 NI603952 core:BetweenOneTwoYears 2025-01-31 NI603952 core:BetweenTwoFiveYears 2025-01-31 NI603952 core:MoreThanFiveYears 2025-01-31 NI603952 core:AllPeriods 2025-01-31 NI603952 core:AcceleratedTaxDepreciationDeferredTax 2025-01-31 NI603952 bus:OrdinaryShareClass1 2025-01-31 NI603952 bus:OrdinaryShareClass2 2025-01-31 NI603952 2024-01-31 NI603952 core:LandBuildings 2024-01-31 NI603952 core:VehiclesPlantMachinery 2024-01-31 NI603952 core:FurnitureFittingsToolsEquipment 2024-01-31 iso4217:GBP iso4217:GBP xbrli:shares xbrli:pure xbrli:shares