REGISTERED NUMBER: 15265502 (England and Wales)

JEROBOAMS PROPERTIES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

Edward I Rich

Peter C Rich

Matthew F Tipping

Stephen J Cornwell

SECRETARY:

Caroline A Hall

REGISTERED OFFICE:

43 Portland Road

London

W11 4LJ

REGISTERED NUMBER:

15265502 (England and Wales)

SENIOR STATUTORY AUDITOR:

Theo Banos BA FCA

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

FIXED ASSETS

Investment property

4

3,050,000

3,800,000

CURRENT ASSETS

Debtors

5

5,186

4,832

Cash at bank

25,983

21,437

31,169

26,269

CREDITORS

Amounts falling due within one year

6

67,831

28,188

NET CURRENT LIABILITIES

(36,662

)

(1,919

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,013,338

3,798,081

CREDITORS

Amounts falling due after more than one year

7

(3,200,000

)

(3,716,968

)

PROVISIONS FOR LIABILITIES

-

(19,419

)

NET (LIABILITIES)/ASSETS

(186,662

)

61,694

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Fair value adjustment reserve

9

62,671

58,256

Retained earnings

(250,333

)

2,438

SHAREHOLDERS' FUNDS

(186,662

)

61,694

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

Matthew F Tipping - Director

1.	STATUTORY INFORMATION

Jeroboams Properties 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.

Functional and presentation currency

The company's functional and presentational currency is British Pound Sterling (GBP).

Rental income

Rental income, which excludes value added tax, represents rent from investment properties leased out under operating lease agreements and is measured at the fair value of the consideration received or receivable. Rental income from operating leases is recognised in the Income Statement on a straight line basis over the lease term. The lease term is the non-cancellable period of the lease. Where income is received in advance for a period beyond the accounting year end, income is deferred and a liability is recognised on the Balance Sheet.

Investment properties

Investment property is measured initially at cost, including related transaction costs. After initial recognition, investment property is carried at fair value. Fair value is based on active market prices, adjusted if necessary for differences in the nature, location or condition of the specific asset. The fair value of investment property reflects, among other things, rental income from current leases and other assumptions market participants would make when pricing the property under current market conditions.

Valuations are performed at the year-end internally by the directors who have experience in the location and category of the investment property being valued. These valuations form the basis for the carrying amounts in the Financial Statements.

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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 income statement.

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. Accounts 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2024 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

3,800,000

Additions

48,651

Disposals

(800,000

)

Revaluations

1,349

At 31 March 2025

3,050,000

NET BOOK VALUE

At 31 March 2025

3,050,000

At 31 March 2024

3,800,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

3,050,000

At 31 March 2025, an internal valuation was prepared which resulted in a market valuation for the investment properties of £3,050,000.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

4,186

4,832

Other debtors

1,000

-

5,186

4,832

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

134

1,037

Taxation and social security

21,308

3,151

Other creditors

46,389

24,000

67,831

28,188

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

3,200,000

3,716,968

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

1,000

1,000

9.

RESERVES

Fair

value

adjustment

reserve

£

At 1 April 2024

58,256

Deferred tax movement

19,418

Revaluation

(15,003

)

At 31 March 2025

62,671

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Theo Banos BA FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK, not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Jeroboams Group Limited. The principal place of business of Jeroboams Group Limited is:

7-9 Elliott's Place

London

N1 8HX