REGISTERED NUMBER: 09176007 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

JUTE DUNDEE LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

Directors:

R Kyle

T J Mihill

Registered office:

C/o Foresight Group Llp The Shard

32 London Bridge Street

London

SE1 9SG

Registered number:

09176007 (England and Wales)

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

Directors

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

R Kyle

T J Mihill

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

T J Mihill - Director

23 December 2025

Turnover

1,562,885

1,292,536

Administrative expenses

(419,853

)

(1,168,023

)

1,143,032

124,513

Other operating income

16,892

4,643

Operating profit

1,159,924

129,156

Interest payable and similar expenses

(869,565

)

(836,191

)

Profit/(loss) before taxation

290,359

(707,035

)

Tax on profit/(loss)

5

268,050

-

Profit/(loss) for the financial year

558,409

(707,035

)

Fixed assets

Investment property

6

16,130,093

15,959,472

Current assets

Debtors

7

471,655

214,967

Cash at bank

1,274,613

923,364

1,746,268

1,138,331

Creditors

Amounts falling due within one year

8

(3,036,980

)

(2,566,831

)

Net current liabilities

(1,290,712

)

(1,428,500

)

Total assets less current liabilities

14,839,381

14,530,972

Creditors

Amounts falling due after more than one year

9

(15,750,000

)

(16,000,000

)

Net liabilities

(910,619

)

(1,469,028

)

Capital and reserves

Called up share capital

1

1

Retained earnings

(910,620

)

(1,469,029

)

(910,619

)

(1,469,028

)

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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

T J Mihill - Director

1.	Statutory information

Jute Dundee 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.

Turnover

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

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3.	Employees and directors

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

4.	Exceptional items

31.3.25

31.3.24

£

£

Exceptional items

-

145,876

5.

Taxation

The tax charge on the profit for the year was as follows

31.03.25

31.03.24

£

£

Current Tax:

Uk Corporation tax

68367

-176759

Deferred Tax

-268050

0

Group Relief

-68367

176759

Tax on Profit

0

0

6.	Investment property

Total

£

Fair value

At 1 April 2024

15,959,472

Additions

170,621

At 31 March 2025

16,130,093

Net book value

At 31 March 2025

16,130,093

At 31 March 2024

15,959,472

7.

Debtors: amounts falling due within one year

31.3.25

31.3.24

£

£

Other debtors

471,655

214,967

8.

Creditors: amounts falling due within one year

31.3.25

31.3.24

£

£

Trade creditors

99,940

(3,871

)

Amounts owed to group undertakings

2,572,586

1,724,501

Other creditors

364,454

846,201

3,036,980

2,566,831

9.

Creditors: amounts falling due after more than one year

31.3.25

31.3.24

£

£

Amounts owed to group undertakings

15,750,000

16,000,000

10.	Related party disclosures

Jute Holdings Limited is considered a related party by virtue of common directors. There was a long term loan of £16,000,000 from Jute Holdings Limited to the company, all of which was outstanding at the year end. £836,191 of interest was accrued on the loan during the year, all of which was outstanding at the year end.

11.	Ultimate controlling party

The ultimate controlling party is Averon Park Limited.