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Registration number: 06034806

MJM Developments (Portrack Grange) Limited
Filleted Unaudited Financial Statements
for the Year Ended 31 March 2025

MJM Developments (Portrack Grange) Limited

(Registration number: 06034806)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 123,433 | -
Investment property | 5 | 3,685,542 | 3,510,542
|  | 3,808,975 | 3,510,542
Current assets |  |  |
Debtors | 6 | 403,519 | 620,370
Cash at bank and in hand |  | 14,087 | 9,863
|  | 417,606 | 630,233
Creditors: Amounts falling due within one year | 7 | (128,143) | (99,690)
Net current assets |  | 289,463 | 530,543
Total assets less current liabilities |  | 4,098,438 | 4,041,085
Creditors: Amounts falling due after more than one year | 7 | (1,313,140) | (1,263,608)
Provisions for liabilities |  | (159,376) | (166,133)
Net assets |  | 2,625,922 | 2,611,344
Capital and reserves |  |  |
Called up share capital | 9 | 200 | 200
Other reserves |  | 759,628 | 760,245
Retained earnings |  | 1,866,094 | 1,850,899
Shareholders' funds |  | 2,625,922 | 2,611,344

MJM Developments (Portrack Grange) Limited

(Registration number: 06034806)
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 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 6 November 2025 and signed on its behalf by:

Mr J R McCulloch Director |  |

MJM Developments (Portrack Grange) 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.

The address of its registered office is:
Unit 1
Portrack Grange Road
Stockton on Tees
TS18 2PH

Registration number: 06034806

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.
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.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

MJM Developments (Portrack Grange) Limited

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

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors 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.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured less a provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

MJM Developments (Portrack Grange) Limited

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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).

MJM Developments (Portrack Grange) Limited

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

4 | Tangible assets

| Motor vehicles £ | Total £
Cost or valuation
Additions | 129,929 | 129,929
At 31 March 2025 | 129,929 | 129,929
Depreciation
Charge for the year | 6,496 | 6,496
At 31 March 2025 | 6,496 | 6,496
Carrying amount
At 31 March 2025 | 123,433 | 123,433

5 | Investment properties

| 2025 £
At 1 April | 3,510,542
Additions | 175,823
Fair value adjustments | (823)
At 31 March | 3,685,542

The value of investment property is reviewed annually by the directors.

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

MJM Developments (Portrack Grange) Limited

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

6 | Debtors

| 2025 £ | 2024 £
Trade debtors | 13,451 | 21,467
Amounts owed by related parties | 384,632 | 585,266
Prepayments | 5,436 | 6,637
Other debtors | - | 7,000
| 403,519 | 620,370

7 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 47,908 | 26,284
Trade creditors |  | 35,287 | 15,489
Social security and other taxes |  | 1,926 | 1,933
Other creditors |  | 43,022 | 55,984
|  | 128,143 | 99,690

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 1,313,140 | 1,263,608

8 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 35,991 | 26,284
Hire purchase contracts | 11,917 | -
| 47,908 | 26,284

MJM Developments (Portrack Grange) Limited

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

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 1,218,108 | 1,263,608
Hire purchase contracts | 95,032 | -
| 1,313,140 | 1,263,608

The bank borrowings are secured against the assets of the company.
The hire purchase borrowings are secured against the assets they relate to.
Included in loans and borrowings are bank loans due for repayment by instalments of £48,777 (2024 - £61,594) due after more than five years.

9 | Share capital

Allotted, called up and fully paid shares

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