REGISTERED NUMBER: 09189258 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

JENNINGS ASSET MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S J Jennings

SECRETARY:

S J Jennings

REGISTERED OFFICE:

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

REGISTERED NUMBER:

09189258 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

670,000

670,000

670,000

670,000

CURRENT ASSETS

Debtors

6

2,114

2,162

Investments

7

72

74

Cash at bank and in hand

733

1,424

2,919

3,660

CREDITORS

Amounts falling due within one year

8

232,430

225,687

NET CURRENT LIABILITIES

(229,511

)

(222,027

)

TOTAL ASSETS LESS CURRENT LIABILITIES

440,489

447,973

CREDITORS

Amounts falling due after more than one year

9

(434,434

)

(442,814

)

PROVISIONS FOR LIABILITIES

(1,528

)

(1,528

)

NET ASSETS

4,527

3,631

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

11

6,530

6,530

Retained earnings

(2,103

)

(2,999

)

SHAREHOLDERS' FUNDS

4,527

3,631

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 8th December 2025 and were signed by:

S J Jennings - Director

1.	STATUTORY INFORMATION

Jennings Asset Management 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.

Turnover

Turnover represents net invoiced rents, excluding value added tax. Rental income is recognised in the period to which it relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Investment property

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.

Investments

Current asset investments are measured at fair value through income and expenditure. The fair value was determined by reference to the middle market price at the relevant year end date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2024

and 31st March 2025

8,678

DEPRECIATION

At 1st April 2024

and 31st March 2025

8,678

NET BOOK VALUE

At 31st March 2025

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2024

and 31st March 2025

670,000

NET BOOK VALUE

At 31st March 2025

670,000

At 31st March 2024

670,000

Fair value at 31st March 2025 is represented by:

£

Valuation in 2018

40,035

Valuation in 2019

8,007

Valuation in 2020

(40,000

)

Cost

661,958

670,000

The director has valued the investment properties as at 31 March 2025 and considers them to be a fair value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

1,000

1,000

Prepayments and accrued income

1,114

1,162

2,114

2,162

7.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Listed investments

72

74

The market value of the listed investments at 31 March 2025 was £72 but the original cost of the investments was £59.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Tax

210

216

Other creditors

231,020

224,271

Accrued expenses

1,200

1,200

232,430

225,687

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

434,434

442,814

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

434,434

442,814

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

434,434

442,814

The mortgages with Onesavings Bank Plc and Newbury Building Society are secured by legal charges over the residential investment properties to which they relate.

11.

RESERVES

Fair

value

reserve

£

At 1st April 2024

and 31st March 2025

6,530

12.	OTHER FINANCIAL COMMITMENTS

The company is commited to pay ground rent on the investment properties of £370 per annum, plus variable service charge costs, over the length of the leases or until the properties are sold.

13.	RELATED PARTY DISCLOSURES

During the year the company received £6,750 from Jennings Wealth Management Limited, a related company. The loan is repayable on demand and the amount outstanding at the year end and included in creditors is £231,020.