Company No: 02730689 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	162,121		173,805
Investment property	4	50,787,408		51,853,562
Investments	5	1,065,165		1,072,025
		52,014,694		53,099,392
Current assets
Stocks	6	647,856		33,255
Debtors	7	8,332,739		6,451,366
Cash at bank and in hand		8,889,833		9,397,906
		17,870,428		15,882,527
Creditors: amounts falling due within one year	8	( 1,837,071)		( 6,161,191)
Net current assets		16,033,357		9,721,336
Total assets less current liabilities		68,048,051		62,820,728
Provision for liabilities	9	( 3,293,212)		( 3,483,115)
Net assets		64,754,839		59,337,613
Capital and reserves
Called-up share capital		1,560,887		1,560,887
Share premium account		6,331,585		6,331,585
Fair value reserve		2,845,649		3,468,337
Capital redemption reserve		( 180,000 )		( 180,000 )
Profit and loss account		54,196,718		48,156,804
Total shareholder's funds		64,754,839		59,337,613

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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of David Jones Property Limited (registered number: 02730689) were approved and authorised for issue by the Board of Directors on 22 December 2025. They were signed on its behalf by:

Mrs K Jones Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

David Jones Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is D J Property, Unit C, Oxford Court Cambridge Road, Granby Trading Estate, Weymouth, DT4 9GH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of land and commercial property, energy, consultancy and other services to customers.
Turnover also includes rents receivable.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	10 - 25 % reducing balance
	5 - 7 years straight line
Vehicles	7 years straight line
Office equipment	7 years straight line
Computer equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, derived from the rental yield determined annually

Stocks

The figures shown as stock in the accounts relate to the work in progress of properties owned by the company.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		4

3. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	176,965		8,462		1,701		4,635		191,763
Additions	7,077		0		1,115		3,202		11,394
Disposals	( 337)		0		0		0		( 337)
At 31 March 2025	183,705		8,462		2,816		7,837		202,820
Accumulated depreciation
At 01 April 2024	15,164		1,209		258		1,327		17,958
Charge for the financial year	19,587		1,036		335		1,883		22,841
Disposals	( 100)		0		0		0		( 100)
At 31 March 2025	34,651		2,245		593		3,210		40,699
Net book value
At 31 March 2025	149,054		6,217		2,223		4,627		162,121
At 31 March 2024	161,801		7,253		1,443		3,308		173,805

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	51,853,562
Additions	199,750
Fair value movement	(439,941)
Transfers to and from inventories	(825,963)
As at 31 March 2025	50,787,408

Valuation

For commercial investment property, the yield methodology was used which involved applying market derived capitalisation yields to current and market derived future income streams with appropriate adjustments for income
voids arising from vacancies or rent free periods. These capitalisation yields and future income streams are derived from comparable property and leasing transactions.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	44,689,476		44,942,944

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	1,065,165
At 31 March 2025	1,065,165
Carrying value at 31 March 2025	1,065,165
Carrying value at 31 March 2024	1,065,165

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	6,860		6,860
Disposals	( 6,860)		( 6,860)
At 31 March 2025	0		0
Carrying value at 31 March 2025	0		0
Carrying value at 31 March 2024	6,860		6,860

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.03.2025	Ownership 31.03.2024	Held
Zone Weymouth Limited	D J Property, Unit C, Oxford Court Cambridge Road, Granby Industrial Estate, Weymouth, Dorset, United Kingdom, DT4 9GH	Operating a health and fitness club	B shares	78.00%	78.00%	Direct
D J Commercial Limited	D J Property, Unit C, Oxford Court Cambridge Road, Granby Industrial Estate, Weymouth, Dorset, United Kingdom, DT4 9GH	Commercial property	Ordinary A	100.00%	100.00%	Direct
Old Co (DJP) Limited	D J Property, Unit C, Oxford Court Cambridge Road, Granby Industrial Estate, Weymouth, Dorset, United Kingdom, DT4 9GH	Commercial property	Ordinary A	100.00%	100.00%	Direct
Weymouth Harbour Estates Limited	D J Property, Unit C, Oxford Court Cambridge Road, Granby Industrial Estate, Weymouth, Dorset, United Kingdom, DT4 9GH	Commercial property	Ordinary	100.00%	100.00%	Direct
D J Contracts (Structural) Limited	D J Property, Unit C, Oxford Court Cambridge Road, Granby Industrial Estate, Weymouth, Dorset, United Kingdom, DT4 9GH	Commercial property	Ordinary A	100.00%	100.00%	Direct
D J Contracts (Weymouth) Limited	D J Property, Unit C, Oxford Court Cambridge Road, Granby Industrial Estate, Weymouth, Dorset, United Kingdom, DT4 9GH	Commercial property	Ordinary A	100.00%	100.00%	Direct

6. Stocks

	2025		2024
	£		£
Stocks	613,280		0
Work in progress	34,576		33,255
	647,856		33,255

7. Debtors

	2025		2024
	£		£
Trade debtors	221,988		183,752
Other debtors	8,110,751		6,267,614
	8,332,739		6,451,366

Included within debtors are loans, which are repayable on demand, from companies in which one of the directors is a member of the key management personnel. Interest is charged at a commercial rate. At the balance sheet date the amounts due were £5,344,150 (2024 - £4,814,111).

Included within debtors are loans, which are repayable on demand, from three family members of the directors. Interest is charged at a commercial rate. At the balance sheet date the amounts due were £392,843 (2024 - £593,887).

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	26,446		56,733
Taxation and social security	622,572		712,184
Other creditors	1,188,053		5,392,274
	1,837,071		6,161,191

In the prior year, amounts included within other creditors comprised dividends payable to subsidiaries totalling £3,638,002. These dividends were settled during the current financial year.

9. Provision for liabilities

	2025		2024
	£		£
Deferred tax	3,293,212		3,483,115

10. Related party transactions

Other related party transactions

Zone Weymouth Limited (subsidiary)
At the balance sheet date the amount owed by the subsidiary was £1,373,590 (2024 - £1,373,590)

D J Commercial Limited (subsidiary)
At the balance sheet date the amount owed to the subsidiary was £nil (2024 - £2,282,394)

Old Co (DJP) Limited (subsidiary)
At the balance sheet date the amount owed to the subsidiary was £nil (2024 - £91,778)

Weymouth Harbour Estates Limited (subsidiary)
At the balance sheet date the amount owed to the subsidiary was £nil (2024 - £346,979)

D J Contracts (Structural) Limited (subsidiary)
At the balance sheet date the amount owed to the subsidiary was £nil (2024 - £85,706)

D J Contracts (Weymouth) Limited (subsidiary)
At the balance sheet date the amount owed to the subsidiary was £nil (2024 - £831,143)

11. Events after the Balance Sheet date

After the year end, the company acquired 100% of the shares of Bincombe Park Limited, a company engaged in the buying and selling of development land.