Company No: 04554030 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	8,565,000		8,565,000
Investments	4	2,981,965		2,958,375
		11,546,965		11,523,375
Current assets
Debtors	5	12,417,034		6,929,859
Cash at bank and in hand	6	76,980		42,680
		12,494,014		6,972,539
Creditors: amounts falling due within one year	7	( 14,686,985)		( 9,110,179)
Net current liabilities		(2,192,971)		(2,137,640)
Total assets less current liabilities		9,353,994		9,385,735
Provision for liabilities	8	( 829,825)		( 647,998)
Net assets		8,524,169		8,737,737
Capital and reserves
Called-up share capital	9	68,966		68,966
Revaluation reserve		3,418,009		4,160,794
Capital redemption reserve		31,034		31,034
Profit and loss account		5,006,160		4,476,943
Total shareholder's funds		8,524,169		8,737,737

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Jubilee Industrial Investments Limited (registered number: 04554030) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Daniel Alexander Webber Director

18 September 2025

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

Jubilee Industrial Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 4th Floor Calls Landing, 36-38 The Calls, Leeds, LS2 7EW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and 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 £.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the
consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Turnover represents rent receivable net of value added tax.

Interest income

Interest income is recognised in profit or loss using the effective interest method

Employee benefits

Defined contribution schemes
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 Statement of Financial Position 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.

Borrowing costs

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The company as lessor
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

Trade and other debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised
cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade and other creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure
required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	2		2

3. Tangible assets

	Investment property		Total
	£		£
Cost
At 01 January 2024	8,565,000		8,565,000
Revaluation for Current year	0		0
At 31 December 2024	8,565,000		8,565,000
Accumulated depreciation
At 01 January 2024	0		0
At 31 December 2024	0		0
Net book value
At 31 December 2024	8,565,000		8,565,000
At 31 December 2023	8,565,000		8,565,000

4. Fixed asset investments

	Investments in associates		Other investments		Total
	£		£		£
Cost or valuation before impairment
At 01 January 2024	2,475,718		482,657		2,958,375
Additions	0		23,590		23,590
At 31 December 2024	2,475,718		506,247		2,981,965
Carrying value at 31 December 2024	2,475,718		506,247		2,981,965
Carrying value at 31 December 2023	2,475,718		482,657		2,958,375

5. Debtors

	2024		2023
	£		£
Trade debtors	0		( 4,048)
Amounts owed by group undertakings	11,087,335		5,274,011
Amounts owed by fellow subsidiaries	0		411,435
Prepayments	167,559		220,616
Corporation tax	( 11,993)		50,143
Other debtors	1,174,133		977,702
	12,417,034		6,929,859

6. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	76,980		42,680

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	5,442,225		5,613,013
Trade creditors	239,759		74,275
Amounts owed to group undertakings	7,347,597		2,126,533
Other loans	1,079,719		892,712
Accruals	394,673		147,200
Other taxation and social security	32,270		25,832
Other creditors	150,742		230,614
	14,686,985		9,110,179

8. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 647,998)		( 640,711)
Charged to the Statement of Comprehensive Income	( 181,827)		( 7,287)
At the end of financial year	( 829,825)		( 647,998)

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
31,034 Ordinary A shares of £ 1.00 each	31,034		31,034
31,034 Ordinary B shares of £ 1.00 each	31,034		31,034
6,898 Ordinary C shares of £ 1.00 each	6,898		6,898
	68,966		68,966

10. Ultimate controlling party

Parent Company:

Jubilee Property International Holdings Limited.

4th Floor Calls Landing, 36-38 The Calls, Leeds, West Yorkshire, LS2 7EW