JMB Additions LLP

(Registration number: OC333046)
Balance Sheet as at 31 March 2025

The financial statements of JMB Additions LLP (registered number OC333046) were approved by the Board and authorised for issue on 23 December 2025. They were signed on behalf of the limited liability partnership by:

......................................... M A Burns Member

JMB Additions LLP

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

1	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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England & Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

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.

The functional currency of JMB Additions LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

JMB Additions LLP

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

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	over 4 years
Fixtures and fittings	15% reducing balance
Motor vehicles	over 4 years
Yacht	over 10 years
Equipment	over 5 years

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

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.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2	Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2024 - 0).

JMB Additions LLP

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

3	Tangible fixed assets

	Freehold land and buildings £	Plant and machinery £	Fixtures and fittings £	Motor vehicles £
Cost
At 1 April 2024	205,047	330,794	17,707	9,189
Additions	-	-	1,084	-
At 31 March 2025	205,047	330,794	18,791	9,189
Depreciation
At 1 April 2024	-	303,104	11,509	8,754
Charge for the year	-	11,662	956	433
At 31 March 2025	-	314,766	12,465	9,187
Net book value
At 31 March 2025	205,047	16,028	6,326	2
At 31 March 2024	205,047	27,690	6,198	435

	Yacht £	Total £
Cost
At 1 April 2024	339,285	902,022
Additions	-	1,084
At 31 March 2025	339,285	903,106
Depreciation
At 1 April 2024	338,138	661,505
Charge for the year	658	13,709
At 31 March 2025	338,796	675,214
Net book value
At 31 March 2025	489	227,892
At 31 March 2024	1,147	240,517

4

Stocks

	2025 £	2024 £
Stocks	8,462	8,395

JMB Additions LLP

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

5

Debtors

	2025 £	2024 £
Trade debtors	232,563	274,834
Prepayments and accrued income	1,008	752
Total current trade and other debtors	233,571	275,586

6	Creditors: Amounts falling due within one year

	2025 £	2024 £
Bank loans and overdrafts	10,812	10,057
Other creditors	2	2
Accruals and deferred income	14,695	16,755
Taxation and social security	115,277	96,533
	140,786	123,347

7	Creditors: Amounts falling due after more than one year

	2025 £	2024 £
Bank loans and overdrafts	73,089	84,676

8

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.