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Company No: 07214489 (England and Wales)

# JPRS (SOUTH WEST) LIMITED

### Unaudited Financial Statements
For the financial year ended 31 October 2025
Pages for filing with the registrar

JPRS (SOUTH WEST) LIMITED

## Unaudited Financial Statements

For the financial year ended 31 October 2025

Contents

JPRS (SOUTH WEST) LIMITED

## BALANCE SHEET

As at 31 October 2025
JPRS (SOUTH WEST) LIMITED

## BALANCE SHEET (continued)

As at 31 October 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 0 |  | 2,564
Tangible assets | 4 | 102,946 |  | 70,154
Investments | 5 | 70,641 |  | 50,169
|  | 173,587 |  | 122,887
Current assets |  |  |  |
Debtors | 6 | 44,538 |  | 38,167
Cash at bank and in hand |  | 129,913 |  | 146,456
|  | 174,451 |  | 184,623
Creditors: amounts falling due within one year | 7 | ( 115,487) |  | ( 117,049)
Net current assets |  | 58,964 |  | 67,574
Total assets less current liabilities |  | 232,551 |  | 190,461
Creditors: amounts falling due after more than one year | 8 | ( 96,833) |  | ( 57,541)
Provision for liabilities |  | ( 29,473) |  | ( 19,148)
Net assets |  | 106,245 |  | 113,772
Capital and reserves |  |  |  |
Called-up share capital | 9 | 255 |  | 255
Capital redemption reserve |  | 90 |  | 90
Profit and loss account |  | 105,900 |  | 113,427
Total shareholders' funds |  | 106,245 |  | 113,772

For the financial year ending 31 October 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of JPRS (South West) Limited (registered number: 07214489) were approved and authorised for issue by the Board of Directors on 31 March 2026. They were signed on its behalf by:

Mr R D Loughton Director |

JPRS (SOUTH WEST) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2025
JPRS (SOUTH WEST) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2025

##### 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

JPRS (South West) 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 Town Hall House, Bovey Tracey, Newton Abbot, TQ13 9EQ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date, turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Dividend income

Dividend income is recognised when the company's right to receive payment has been established.

##### Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

##### 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.
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 average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 5 years straight line

###### Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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/reducing balance basis over its expected useful life, as follows:

Vehicles | 25 % reducing balance
Fixtures and fittings | 5 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.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### 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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 14 |  | 12

#### 3. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 November 2024 | 94,645 |  | 94,645
At 31 October 2025 | 94,645 |  | 94,645
Accumulated amortisation |  |  |
At 01 November 2024 | 92,081 |  | 92,081
Charge for the financial year | 2,564 |  | 2,564
At 31 October 2025 | 94,645 |  | 94,645
Net book value |  |  |
At 31 October 2025 | 0 |  | 0
At 31 October 2024 | 2,564 |  | 2,564

#### 4. Tangible assets

| Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 November 2024 | 119,164 |  | 47,953 |  | 167,117
Additions | 113,334 |  | 16,290 |  | 129,624
Disposals | ( 119,164) |  | 0 |  | ( 119,164)
At 31 October 2025 | 113,334 |  | 64,243 |  | 177,577
Accumulated depreciation |  |  |  |  |
At 01 November 2024 | 57,883 |  | 39,080 |  | 96,963
Charge for the financial year | 28,333 |  | 7,218 |  | 35,551
Disposals | ( 57,883) |  | 0 |  | ( 57,883)
At 31 October 2025 | 28,333 |  | 46,298 |  | 74,631
Net book value |  |  |  |  |
At 31 October 2025 | 85,001 |  | 17,945 |  | 102,946
At 31 October 2024 | 61,281 |  | 8,873 |  | 70,154

#### 5. Fixed asset investments

| Listed investments |  | Other investments |  | Total
| £ |  | £ |  | £
Cost or valuation before impairment |  |  |  |  |
At 01 November 2024 | 35,462 |  | 14,707 |  | 50,169
Additions | 11,966 |  | 0 |  | 11,966
Movement in fair value | 8,506 |  | 0 |  | 8,506
At 31 October 2025 | 55,934 |  | 14,707 |  | 70,641
Carrying value at 31 October 2025 | 55,934 |  | 14,707 |  | 70,641
Carrying value at 31 October 2024 | 35,462 |  | 14,707 |  | 50,169

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 14,577 |  | 14,793
Amounts owed by directors | 3,176 |  | 3,176
Prepayments | 13,285 |  | 14,198
Other debtors | 13,500 |  | 6,000
| 44,538 |  | 38,167

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 1,573 |  | 0
Amounts owed to directors | 151 |  | 151
Accruals | 3,951 |  | 3,949
Corporation tax | 83,459 |  | 94,738
Obligations under finance leases and hire purchase contracts | 16,988 |  | 17,367
Other creditors | 9,365 |  | 844
| 115,487 |  | 117,049

Hire purchase liabilities are secured on the individual assets taken out on hire purchase.

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Obligations under finance leases and hire purchase contracts | 96,833 |  | 57,541

Hire purchase liabilities are secured on the individual assets taken out on hire purchase.

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
80 Ordinary shares of £ 1.00 each | 80 |  | 80
25 Ordinary A shares of £ 1.00 each | 25 |  | 25
25 Ordinary C shares of £ 1.00 each | 25 |  | 25
25 Ordinary J shares of £ 1.00 each | 25 |  | 25
25 Ordinary L shares of £ 1.00 each | 25 |  | 25
25 Ordinary R shares of £ 1.00 each | 25 |  | 25
25 Ordinary S shares of £ 1.00 each | 25 |  | 25
25 Ordinary W shares of £ 1.00 each | 25 |  | 25
| 255 |  | 255

#### 10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
within one year | 7,048 |  | 0
between one and five years | 13,507 |  | 0
Total future minimum lease payments under non-cancellable operating leases | 20,555 |  | 0

#### 11. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Amounts owed from the directors | 3,176 |  | 3,176

The Company paid rent during the year to the Loughtons SSAS of £10,933 (2024 - £12,600).

#### 12. Reserves

Included within the profit and loss account balance carried forward are non-distributable reserves of £11,209 (2024 - £4,829 ). These reserves represent the cumulative unrealised gains on the company's investments, net of the provision for deferred taxation thereon.