ACCOUNTS - Final Accounts preparation

Company registration number: 14599918

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 JANUARY 2025

	JMD INCORPORATION LIMITED


JMD INCORPORATION LIMITED

COMPANY INFORMATION

Director	D Ghazaryan


Registered number	14599918


Registered office	First Floor Flat
	45 Hamilton Gardens
	London
	NW8 9PX


Accountants	Menzies LLP
	Chartered Accountants
	95 Gresham Street
	London
	EC2V 7AB


JMD INCORPORATION LIMITED REGISTERED NUMBER:14599918

STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2025

		2025		2024
Note		£		£

Fixed assets
Investment property	4		2,406,041		1,910,378
			2,406,041		1,910,378
Current assets
Debtors: amounts falling due within one year	5	272		238
Cash at bank and in hand		56,294		19,682
		56,566		19,920
Creditors: amounts falling due within one year	6	(2,404,979)		(1,917,158)
Net current liabilities			(2,348,413)		(1,897,238)
Total assets less current liabilities			57,628		13,140

Net assets			57,628		13,140

Capital and reserves
Called up share capital	100	100
Profit and loss account	57,528	13,040
	57,628	13,140

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JMD INCORPORATION LIMITED REGISTERED NUMBER:14599918

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 JANUARY 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

D Ghazaryan

Director

Date: 21 May 2025

The notes on pages 3 to 5 form part of these financial statements.

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JMD INCORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

1.	General information

JMD Incorporation Limited is a private company, limited by shares, registered in England & Wales, company registration number 14599918. The registered office is First Floor Flat, 45 Hamilton Gardens, London, NW8 9PX.
The company was incoporated on 18 January 2023 resulting in a longer comparative period is long period ending 31 January 2024.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is generated through rental income and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

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JMD INCORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 February 2024	1,910,378
	Additions at cost	495,663
	At 31 January 2025	2,406,041

The 2025 valuations were made by the directors, on an open market value for existing use basis.

Debtors

					2025	2024
					£	£


Other debtors	272	238
	272	238

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Amounts owed to group undertakings	109,400	109,400
Corporation tax	14,164	3,129
Other creditors	2,276,879	1,800,309
Accruals and deferred income	4,536	4,320
	2,404,979	1,917,158

7.	Prior year adjustment

There has been a prior year adjustment to correct misstatements in the financial statements. Administrative expenses have reduced by £2,745, with a corresponding decrease in other creditors of £2,745. Additionally, corporation tax has increased by £138. These adjustments resulted in an increase in retained earnings bought forward of £2,607.

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JMD INCORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Related party transactions

Included within other creditors is an amount totalling £782,550 (2024: £328,871) owed to the director. This loan has been provided interest free.
Included within other creditors is an amount totalling £556,779 (2024: £557,229) owed to a relative of the director. This loan has been provided interest free.
Included within other creditors is an amount totalling £937,550 (2024: £915,454) owed to a beneficial owner. This loan has been provided interest free.

9.	Controlling party

The ultimate controlling party is JMD Holdings LLC, located at V.Sargsyan Street, 26/1, Room 301, Kentron, Yerevan, Armenia, 0010

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