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REGISTERED NUMBER: 04013331 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

JML Estates Limited

JML Estates Limited (Registered number: 04013331)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JML Estates Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: P F Lovel
Mrs H M Lovel





SECRETARY: P F Lovel





REGISTERED OFFICE: 12 Innovation Drive
Newport
Brough
East Yorkshire
HU15 2FW





REGISTERED NUMBER: 04013331 (England and Wales)





ACCOUNTANTS: WOODGATES
Chartered Accountants
25 Woodgates Lane
North Ferriby
East Yorkshire
HU14 3JR

JML Estates Limited (Registered number: 04013331)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 905,000 1,065,000

CURRENT ASSETS
Stocks 289,000 289,000
Debtors 5 26,658 -
Cash at bank 6,847 5,263
322,505 294,263
CREDITORS
Amounts falling due within one year 6 551,683 75,923
NET CURRENT (LIABILITIES)/ASSETS (229,178 ) 218,340
TOTAL ASSETS LESS CURRENT
LIABILITIES

675,822

1,283,340

CREDITORS
Amounts falling due after more than one
year

7

-

(583,642

)

PROVISIONS FOR LIABILITIES (103,500 ) (121,500 )
NET ASSETS 572,322 578,198

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 572,222 578,098
SHAREHOLDERS' FUNDS 572,322 578,198

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

JML Estates Limited (Registered number: 04013331)

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2025 and were signed on its behalf by:





P F Lovel - Director


JML Estates Limited (Registered number: 04013331)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

JML Estates 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 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.

Significant judgements and estimates
The directors revalue the Company's investment properties each year. The determination of the fair value of each property requires the use of estimates and assumptions in relation to factors such as future rental income and current market conditions.

Turnover
Turnover represents rents receivable and sales of properties held as stock.

Rents receivable are recognised for the period to which they relate.
Property sales are recognised on legal completion.

Investment property
Investment properties are shown at the most recent fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account. Deferred taxation is provided on gains recognised in the profit and loss account. No depreciation is provided on Investment Properties.

Stocks
Properties held for resale and redevelopment are held as stock and are valued at the lower of cost and net realisable value.

Financial instruments
Cash and bank balances
Cash and bank balances are recognised at transaction price.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of future payments.


JML Estates Limited (Registered number: 04013331)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 1,065,000
Disposals (160,000 )
At 31 December 2024 905,000
NET BOOK VALUE
At 31 December 2024 905,000
At 31 December 2023 1,065,000

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2016 478,068
Valuation in 2020 116,000
Cost 310,932
905,000

JML Estates Limited (Registered number: 04013331)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. INVESTMENT PROPERTY - continued

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

31.12.24 31.12.23
£    £   
Cost 310,932 366,676

Investment properties were valued on an open market basis on 4 March 2020 by Allied Chartered Surveyors & Valuers .

The Directors consider the valuation of the properties at the year end to be the same as professionally valued during the year ended 31 December 2020.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Other debtors 26,658 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 529,118 16,767
Trade creditors 15 15
Taxation and social security 15,347 91
Other creditors 7,203 59,050
551,683 75,923

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans - 583,642

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 529,118 600,409

Bank loans are secured against investment properties and properties held as stock.

JML Estates Limited (Registered number: 04013331)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
P F Lovel
Balance outstanding at start of year - -
Amounts advanced - 14,557
Amounts repaid - (14,557 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Interest is charged at HMRC's Official Rate on overdrawn balances.

10. ANALYSIS OF RETAINED EARNINGS

£
Profit and loss 81,654

Fair value reserve 490,568

Total 572,222