REGISTERED NUMBER: 08054682 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

JM Property 1 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S O T Hookway

S Garner

F R C Lea

REGISTERED OFFICE:

6 Lichfield Street

Burton On Trent

Staffordshire

DE14 3RD

REGISTERED NUMBER:

08054682 (England and Wales)

ACCOUNTANTS:

Bourne & Co

Chartered Accountants

6 Lichfield Street

Burton-on-Trent

Staffordshire

DE14 3RD

FIXED ASSETS

Investment property

4

6,056,400

7,357,920

CURRENT ASSETS

Debtors

5

70,760

129,480

Cash at bank

-

735

70,760

130,215

CREDITORS

Amounts falling due within one year

6

3,076,003

3,815,071

NET CURRENT LIABILITIES

(3,005,243

)

(3,684,856

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,051,157

3,673,064

PROVISIONS FOR LIABILITIES

709,344

919,799

NET ASSETS

2,341,813

2,753,265

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

2,128,029

2,759,398

Retained earnings

213,684

(6,233

)

SHAREHOLDERS' FUNDS

2,341,813

2,753,265

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 4 December 2025 and were signed on its behalf by:

S O T Hookway - Director

1.	STATUTORY INFORMATION

JM Property 1 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The financial statements have been prepared on a going concern basis, the applicability of which dependent upon the continued support from group companies to pay any debts.

Turnover

Turnover is measured at the fair value of the rents received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

In accordance with Financial Reporting Standard 102 (FRS 102), investment properties are revalued and the surplus or deficit is transferred to the profit and loss account, and no depreciation is provided in respect of freehold investment properties. The requirement of the Companies Act 2006 is to depreciate all properties, but that requirement conflicts with the generally accepted accounting principle set out in FRS 102. The director considers that to depreciate such properties would not give a true and fair view, but that a true and fair view is given by following FRS 102 as described above. The effect of this departure from the Companies Act 2006 has not been quantified because it is impracticable and, in the opinion of the director, would be misleading.

Financial liabilities

Short term creditors are measured at transaction price. Other financial liabilities, including loans from group companies are measured initially at fair value, net of transaction cost and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Financial assets

Short term debtors are measured at transaction price. Other financial liabilities, including loans to group companies are measured initially at fair value, net of transaction cost and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

7,357,920

Disposals

(1,301,520

)

At 31 March 2025

6,056,400

NET BOOK VALUE

At 31 March 2025

6,056,400

At 31 March 2024

7,357,920

Investment property is treated as a long-term investment and is carried at fair value. The fair value methodology used to value the investment properties is based on the RIC's income approach guidelines where the value is determined by reference to the value of income, cash flow or cost savings generated utilising conservative projections of the amount and timing of future income. The properties were valued on 31st March 2025 by the directors.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2022

783,018

Valuation in 2023

2,054,358

Cost

3,219,024

6,056,400

If the investment properties had not been revalued they would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

3,219,024

3,678,722

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

149

10,383

Amounts owed by group undertakings

1,140

15,525

Other debtors

69,471

103,572

70,760

129,480

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts (see note 7)

6,322

-

Trade creditors

16,998

18,307

Amounts owed to group undertakings

3,011,334

3,760,376

Other creditors

41,349

36,388

3,076,003

3,815,071

7.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

6,322

-

8.	CONTINGENT LIABILITIES

There are fixed and floating charges over the company's assets. The debt in relation to this security is held in another group company.

9.	CONTROLLING PARTY

The immediate parent company of JM Property 1 Limited is MSS G Limited. The company's accounts are consolidated in the accounts of JMP Finance A Limited, a company incorporated in Malta with its registered office address at 93, Mill Street, Qormi, QRM 3102, Malta.

The ultimate parent company of JMP Finance A Limited is MSS Millennial Property Rental Fund Limited, a company registered in the Cayman Islands, with its registered office address at Cayman Corporate Centre, 27 Hospital Road, George Town, KY1- 9008, Grand Cayman, Cayman Islands.

There is no ultimate controlling party.