REGISTERED NUMBER: SC533825 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

JML Group Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,110,934

979,776

CURRENT ASSETS

Debtors

5

187,683

131,264

Cash at bank

1,346,062

896,266

1,533,745

1,027,530

CREDITORS

Amounts falling due within one year

6

(459,060

)

(258,671

)

NET CURRENT ASSETS

1,074,685

768,859

TOTAL ASSETS LESS CURRENT LIABILITIES

2,185,619

1,748,635

CREDITORS

Amounts falling due after more than one year

7

(468,230

)

(460,649

)

PROVISIONS FOR LIABILITIES

(273,504

)

(186,157

)

NET ASSETS

1,443,885

1,101,829

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,443,883

1,101,827

1,443,885

1,101,829

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.

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 19 September 2025 and were signed on its behalf by:

Mr J Langley - Director

Mrs K Langley - Director

1.	STATUTORY INFORMATION

JML Group Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC533825. The registered office is The Arns, Auchterarder, Perthshire PH3 1LB.

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.

Turnover

Turnover represents net invoiced sales of services in respect of management services, excluding value added tax. Sales are recognised at the point at which the service is complete.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

713,278

681,499

1,394,777

Additions

109,145

373,675

482,820

Disposals

-

(89,786

)

(89,786

)

At 31 December 2024

822,423

965,388

1,787,811

DEPRECIATION

At 1 January 2024

148,483

266,518

415,001

Charge for year

165,976

169,630

335,606

Eliminated on disposal

-

(73,730

)

(73,730

)

At 31 December 2024

314,459

362,418

676,877

NET BOOK VALUE

At 31 December 2024

507,964

602,970

1,110,934

At 31 December 2023

564,795

414,981

979,776

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

249,475

527,464

776,939

Additions

103,500

335,175

438,675

Disposals

-

(46,096

)

(46,096

)

Transfer to ownership

(8,250

)

(54,111

)

(62,361

)

Reclassification/transfer

270,000

-

270,000

At 31 December 2024

614,725

762,432

1,377,157

DEPRECIATION

At 1 January 2024

68,102

175,952

244,054

Charge for year

133,750

150,626

284,376

Eliminated on disposal

-

(38,614

)

(38,614

)

Transfer to ownership

(5,132

)

(32,165

)

(37,297

)

Reclassification/transfer

11,250

-

11,250

At 31 December 2024

207,970

255,799

463,769

NET BOOK VALUE

At 31 December 2024

406,755

506,633

913,388

At 31 December 2023

181,373

351,512

532,885

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed by related parties

187,681

104,600

Other debtors

2

26,664

187,683

131,264

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

296,560

215,303

Trade creditors

-

16,087

Taxation and social security

135,427

-

Other creditors

27,073

27,281

459,060

258,671

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

422,397

388,774

Other creditors

45,833

71,875

468,230

460,649

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

718,957

604,077

Amounts due on hire purchase are secured over the individual assets concerned.

9.	COMPANIES WITH COMMON OWNERSHIP

Management charges received during the year: £275,000 (2023 £200,000)

Loan balance due from related party at year-end: £187,681 (2023: £104,600)