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Registration number: 13841217

James Nicholas Homes Limited
Unaudited Financial Statements
for the Year Ended 31 March 2025

James Nicholas Homes Limited

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 6

James Nicholas Homes Limited

(Registration number: 13841217)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investments | 4 | 5 | 5
Current assets |  |  |
Debtors (Including £1,022,814 (2024: £909,735) due after one year. | 5 | 5,311,246 | 2,238,848
Cash at bank and in hand |  | 3,930 | 27
|  | 5,315,176 | 2,238,875
Creditors: Amounts falling due within one year | 6 | (6,025,382) | (2,444,032)
Net current liabilities |  | (710,206) | (205,157)
Net liabilities |  | (710,201) | (205,152)
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | (710,301) | (205,252)
Shareholders' deficit |  | (710,201) | (205,152)

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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:

......................................... Ms J E Ismail Director

James Nicholas Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2 Block C
14 Hulme Street
Salford
Greater Manchester
M5 4ZG
UK

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent, qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by its parent companies. The directors consider that
these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not
include any adjustments which would result if the going concern basis were not appropriate.

James Nicholas Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investments

Investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

James Nicholas Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 5 | 5

Subsidiaries | £
Cost or valuation
At 1 April 2024 | 5
Carrying amount
At 31 March 2025 | 5
At 31 March 2024 | 5

Details of investments (including principal place of business of unincorporated entities) in which the group holds 20% or more of the nominal value of any class of share capital are as follows:

|  |  | Proportion of voting rights |  |
Undertakings | Holding |  | and shares held |  | Principal activity
Subsidiary undertakings |  |  | 2025 | 2024 |  |
James Nicholas Homes Construction Limited | Ordinary |  | 100% | 100% |  | Development of building projects
James Nicholas Homes SPV 2 Limited | Ordinary |  | 100% | 100% |  | Development of building projects
James Nicholas Homes SPV 3 Limited | Ordinary |  | 100% | 100% |  | Development of building projects
James Nicholas Homes SPV 4 Limited | Ordinary |  | 100% | 100% |  | Development of building projects
James Nicholas Homes SPV 5 Limited | Ordinary |  | 100% | 100% |  | Development of building projects

All companies listed above hold the registered office of:
Unit 2 Block C
14 Hulme Street
Salford
Greater Manchester
England
M5 4ZG

James Nicholas Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5 | Debtors

Current |  | 2025 £ | 2024 £
Owed by group undertakings |  | 4,643,795 | 2,028,308
Prepayments |  | 667,401 | 210,490
Other debtors |  | 50 | 50
|  | 5,311,246 | 2,238,848

Details of non-current trade and other debtors

£1,022,814 (2024: £909,735) of 'owed by group undertakings' is classified as non current.

6 | Creditors

Creditors: amounts falling due within one year

|  | 2025 £ | 2024 £
Due within one year |  |  |
Owed to related parties |  | 4,993,930 | 1,952,329
Accruals and deferred income |  | 1,027,906 | 491,703
Other creditors |  | 3,545 | -
Owed to group undertakings |  | 1 | -
|  | 6,025,382 | 2,444,032

Included within owed to related parties £4,993,930 (2024: £1,952,329) is in relation to a loan which is secured by fixed and floating charges dated 4 August 2023 and 1 July 2024 over all the property or undertaking of the company.

James Nicholas Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7 | Parent and ultimate parent undertaking

The immediate parent companies are Salboy Partnerships Limited and MPF Holdings (Repton) Limited who both own 50% of the shareholding in James Nicholas Limited. There is no ultimate parent company of James Nicholas Homes Limited.
Salboy Partnerships Limited is a company incorporated in England and Wales, company number 13626842, registered office Unit 2 Block C, 14 Hulme Street, Salford, Greater Manchester, England, M5 4ZG.
The ultimate parent company of Salboy Partnerships Limited is Salboy Limited, incorporated in England and Wales, company number 09123542, registered office Unit 2 Block C, 14 Hulme Street, Salford, Greater Manchester, England, M5 4ZG.
MPF Holding (Repton) Limited is a company incorporated in England and Wales, company number 13793421, registered office Unit 9 Albion Gateway, Milan Road, Burton On Trent, United Kingdom, DE13 0FY.

8 | Exceptional items

Included in exceptional administrative expenses is £422,006 in relation to loans to subsidiaries written off in the current period. These subsidiaries were disposed of in the period and the amount is not considered to be recoverable.