Company No: SC087971 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	862		0
Investment property	4	1,521,539		1,490,000
		1,522,401		1,490,000
Current assets
Debtors	5	13,269		7,040
Cash at bank and in hand	6	4,270		5,319
		17,539		12,359
Creditors: amounts falling due within one year	7	( 71,167)		( 73,312)
Net current liabilities		(53,628)		(60,953)
Total assets less current liabilities		1,468,773		1,429,047
Creditors: amounts falling due after more than one year	8	( 163,504)		( 174,077)
Provision for liabilities	9, 10	( 69,781)		( 133,111)
Net assets		1,235,488		1,121,859
Capital and reserves
Called-up share capital	11	33,000		33,000
Revaluation reserve		500,446		463,300
Profit and loss account		702,042		625,559
Total shareholders' funds		1,235,488		1,121,859

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of JJNB (Properties) Ltd (registered number: SC087971) were approved and authorised for issue by the Board of Directors on 18 September 2025. They were signed on its behalf by:

Mr J C Barclay Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

JJNB (Properties) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Summerhill, Bellwood Park, Perth, PH2 7AJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents rents receivable net of VAT.

Rental income is recognised on a straight line basis over the term of the lease.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2024	0		0
Additions	899		899
At 31 March 2025	899		899
Accumulated depreciation
At 01 April 2024	0		0
Charge for the financial year	37		37
At 31 March 2025	37		37
Net book value
At 31 March 2025	862		862
At 31 March 2024	0		0

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	1,490,000
Additions	31,539
As at 31 March 2025	1,521,539

Valuation

Investment property comprises various commercial properties across Perth. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2025 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5. Debtors

	2025		2024
	£		£
Trade debtors	12,309		4,930
Other debtors	960		2,110
	13,269		7,040

6. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	4,270		5,319

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	13,780		10,184
Taxation and social security	14,085		11,532
Other creditors	43,302		51,596
	71,167		73,312

Included in Bank loans is an amounts advanced to the company via a bounce back loan of £10,441 (2024 - £10,184). This loan is covered by a government backed guarantee.

Also included in Bank loans is an amount of £3,339 (2024 - £0) which is secured over the asset to which it relates.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	48,482		13,055
Other creditors	115,022		161,022
	163,504		174,077

Included in Bank loans is an amounts advanced to the company via a bounce back loan of £2,614 (2024 - £13,055). This loan is covered by a government backed guarantee.

Also included in Bank loans is an amount of £45,868 (2024 - £0) which is secured over the asset to which it relates.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans (repayable by instalments)	29,414		0

9. Provision for liabilities

	2025		2024
	£		£
Deferred tax	69,781		133,111

10. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 133,111)		( 133,111)
Credited to the Profit and Loss Account	63,330		0
At the end of financial year	( 69,781)		( 133,111)

11. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
33,000 Ordinary shares of £ 1.00 each	33,000		33,000

12. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts owed to directors	155,022		209,022

The directors loan account is interest free and unsecured. £40,000 of this balance has been presented as repayable within 12 months and the balance is repayable over 12 months.