ACCOUNTS - Final Accounts preparation

Company registration number: 11369321

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	JUPITER 33 LIMITED


JUPITER 33 LIMITED

COMPANY INFORMATION

Directors	V Potschisvili
	A Tarlo


Registered number	11369321


Registered office	33 Sackville Sreet
	London
	W1S 3EB


Accountants	Menzies LLP
	Chartered Accountants
	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


JUPITER 33 LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JUPITER 33 LIMITED
FOR THE YEAR ENDED 31 MARCH 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jupiter 33 Limited for the year ended 31 March 2025 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.

As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at:
https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Jupiter 33 Limited, as a body, in accordance with the terms of our engagement letter dated 11 September 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Jupiter 33 Limited and state those matters that we have agreed to state to the Board of Directors of Jupiter 33 Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jupiter 33 Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Jupiter 33 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and loss. You consider that Jupiter 33 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Jupiter 33 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

$AccRepSigner

Menzies LLP

Chartered Accountants

4th Floor

95 Gresham Street

London

EC2V 7AB

24 December 2025

$AccRepSignerDate

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JUPITER 33 LIMITED REGISTERED NUMBER:11369321

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		94,853		113,550
Investment property	5		25,826,299		25,592,896
			25,921,152		25,706,446
Current assets
Debtors: amounts falling due within one year	6	51,734		50,000
Cash at bank and in hand		6,156		3,855
		57,890		53,855
Creditors: amounts falling due within one year	7	(18,190,780)		(4,210,887)
Net current liabilities			(18,132,890)		(4,157,032)
Total assets less current liabilities			7,788,262		21,549,414
Creditors: amounts falling due after more than one year	8		-		(13,522,235)
Provisions for liabilities
Deferred tax	9	(1,775,760)		(1,775,741)
			(1,775,760)		(1,775,741)
Net assets			6,012,502		6,251,438

Capital and reserves
Called up share capital	1	1
Profit and loss account	6,012,501	6,251,437
	6,012,502	6,251,438

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JUPITER 33 LIMITED REGISTERED NUMBER:11369321

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

A Tarlo

Director

Date: 23 December 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 3


JUPITER 33 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Jupiter 33 Limited is a private company, limited by shares, registered in England & Wales, company registration number 11369321. The registered office and principal place of business is 33 Sackville Street, London, W1S 3EB.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover represents rent receivable during the period.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Turnover in relation to the sale of properties is recognised on completion.

2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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JUPITER 33 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	10%
				Computer equipment	-	33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 5


JUPITER 33 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.9

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6


JUPITER 33 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

4.	Tangible fixed assets

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 April 2024	201,835	970	202,805
Additions	1,565	-	1,565
At 31 March 2025	203,400	970	204,370
Depreciation
At 1 April 2024	88,285	970	89,255
Charge for the year on owned assets	20,262	-	20,262
At 31 March 2025	108,547	970	109,517
Net book value
At 31 March 2025	94,853	-	94,853
At 31 March 2024	113,550	-	113,550

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2024	25,592,896
	Additions at cost	233,403
	At 31 March 2025	25,826,299

The 2025 valuations were made by the directors, on an open market value for existing use basis.
The historical cost of the investment properties at the balance sheet date was £18,489,854 (2024: £18,237,094)
There are fixed and floating charges that cover all the property or undertakings of the company.

Page 7


JUPITER 33 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Other debtors	50,000	50,000
Prepayments and accrued income	1,734	-
	51,734	50,000

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	13,647,162	400,000
Trade creditors	15,386	17,940
Amounts owed to group undertakings	4,246,481	3,274,782
Other creditors	32,240	238,960
Accruals	249,511	279,205
	18,190,780	4,210,887

The bank loan is secured by a fixed and floating charges over the assets of the company.
Post year end, updated terms on the bank loan have been agreed to change the repayment date to October 2026.

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	-	13,522,235
	-	13,522,235

The bank loan is secured by fixed and floating charges over the assets of the company.

Page 8


JUPITER 33 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9.	Deferred taxation

		2025
		£

	At beginning of year	(1,775,741)
	Charged to profit or loss	(19)
	At end of year	(1,775,760)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Revaluation of investment property now held as stock	(1,775,741)	(1,775,741)
Fixed asset timing differences	(19)	-
	(1,775,760)	(1,775,741)

Page 9