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Registration number: SC613384

JMAX Properties Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

JMAX Properties Ltd

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 9

JMAX Properties Ltd

Company Information

Directors | Mrs EP McLaren TS McLaren

Registered office | 51 Moss Street Paisley PA1 1DR

Accountants | Boon and Worth Limited Suite A4, Skylon Court Coldnose Road Rotherwas Hereford HR2 6JS

JMAX Properties Ltd

(Registration number: SC613384)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 161,168 | 141,672
Investment property | 5 | 950,000 | 850,000
|  | 1,111,168 | 991,672
Current assets |  |  |
Debtors | 6 | 13,549 | 24,662
Cash at bank and in hand |  | 2,565 | 12,089
|  | 16,114 | 36,751
Creditors: Amounts falling due within one year | 7 | (125,673) | (87,389)
Net current liabilities |  | (109,559) | (50,638)
Total assets less current liabilities |  | 1,001,609 | 941,034
Creditors: Amounts falling due after more than one year | 7 | (796,077) | (809,110)
Provisions for liabilities |  | (82,621) | (43,792)
Net assets |  | 122,911 | 88,132
Capital and reserves |  |  |
Called up share capital | 8 | 200 | 200
Retained earnings |  | 122,711 | 87,932
Shareholders' funds |  | 122,911 | 88,132

JMAX Properties Ltd

(Registration number: SC613384)
Balance Sheet as at 31 March 2025

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:

......................................... Mrs EP McLaren Director

JMAX Properties Ltd

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 Scotland.

The address of its registered office is:
51 Moss Street
Paisley
PA1 1DR
Scotland

These financial statements were authorised for issue by the Board on 29 September 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

JMAX Properties Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | 25% Straight Line Method
Computer equipment | 33% Reducing Balance Method
Plant and machinery | Over 25 years using straight line method
Fixtures and fittings | 25% Reducing Balance Method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

JMAX Properties Ltd

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4 | Tangible assets

| Furniture, fittings and equipment £ | Fixture and fittings £ | Total £
Cost or valuation
At 1 April 2024 | 142,536 | 6,000 | 148,536
Additions | 28,158 | - | 28,158
At 31 March 2025 | 170,694 | 6,000 | 176,694
Depreciation
At 1 April 2024 | 6,614 | 250 | 6,864
Charge for the year | 7,224 | 1,438 | 8,662
At 31 March 2025 | 13,838 | 1,688 | 15,526
Carrying amount
At 31 March 2025 | 156,856 | 4,312 | 161,168
At 31 March 2024 | 135,922 | 5,750 | 141,672

JMAX Properties Ltd

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

5 | Investment properties

| 2025 £
At 1 April | 850,000
Fair value adjustments | 100,000
At 31 March | 950,000

There has been no valuation of investment property by an independent valuer.

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 1,742 | 662
Other debtors | 11,807 | 24,000
| 13,549 | 24,662

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | - | 21,500
Taxation and social security | - | 479
Accruals and deferred income | 1,800 | 1,680
Other creditors | 123,873 | 63,730
| 125,673 | 87,389

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 796,077 | 809,110

JMAX Properties Ltd

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

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 100 | 100 | 100 | 100
Ordinary A shares of £1 each | 100 | 100 | 100 | 100
| 200 | 200 | 200 | 200

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 606,777 | 590,300
Other borrowings | 189,300 | 218,810
| 796,077 | 809,110

10 | Related party transactions

Transactions with directors

2025 | At 1 April 2024 £ | Advances to director £ | Repayments by director £ | At 31 March 2025 £
Mrs EP McLaren
Directors loan account | (63,455) | 15,863 | (75,534) | (123,126)

2024 | At 1 April 2023 £ | Advances to director £ | Repayments by director £ | At 31 March 2024 £
Mrs EP McLaren
Directors loan account | (70,950) | 56,043 | (48,549) | (63,455)

JMAX Properties Ltd

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

Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 12,570 | 12,570