REGISTERED NUMBER: 00780856 (England and Wales)

Financial Statements

for the Year Ended 31 July 2025

for

J A PAYNE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

V Barker

D R Barker

C L Barker

Secretary:

D R Barker

Registered office:

80 Deansgate Lane

Timperley

Altrincham

Cheshire

WA14 1SP

Registered number:

00780856 (England and Wales)

Auditors:

S&W Audit

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Fixed assets

Tangible assets

5

47,233

51,228

Investments

6

690

690

Investment property

7

5,217,390

4,653,695

5,265,313

4,705,613

Current assets

Stocks

916,742

20,643

Debtors

8

415,378

756,128

Investments

9

6,709

6,709

Cash at bank and in hand

15,364

54,718

1,354,193

838,198

Creditors

Amounts falling due within one year

10

3,694,346

2,668,835

Net current liabilities

(2,340,153

)

(1,830,637

)

Total assets less current liabilities

2,925,160

2,874,976

Creditors

Amounts falling due after more than one year

11

(59,025

)

(90,830

)

Provisions for liabilities

12

(321,760

)

(314,760

)

Net assets

2,544,375

2,469,386

Capital and reserves

Called up share capital

13

3,500

3,500

Fair value reserve

14

2,337,775

2,250,275

Retained earnings

203,100

215,611

Shareholders' funds

2,544,375

2,469,386

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2026 and were signed on its behalf by:

D R Barker - Director

1.	Statutory information

J A Payne 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.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going Concern

The accounts have been prepared on a going concern basis, based on the ongoing support from a related party.

The directors consider it appropriate to prepare the financial statements on the going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors,including expectations of future events that are believed to be reasonable under the circumstances.

There are not considered to be any critical judgements in applying the company's accounting policies.The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of investment properties within the next financial year are addressed below

(i) Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in market value is charged or credited to the profit and loss account and then transferred to a non-distributable reserve, net of any deferred tax. The fair value of the investment property is calculated from reviewing market data available and looking at yields of similar properties and adjusting accordingly to reflect the condition of the properties.

Although this accounting policy is in accordance with FRS 102 it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view.

Turnover

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

Turnover comprises of rents receivable, net of VAT. Rent receivable income is recognised equally over the lease term.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land & buildings

-

2% on cost or valuation

Plant and machinery

-

20% straight line and 20% on reducing balance

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost included the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Freehold land and buildings are stated at deemed cost for assets held at the date of transition to FRS 102 less accumulated depreciation and accumulated impairment losses.

Stocks

Stocks of land for resale and development are valued at the lower of cost and net realisable value.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is

measured at the present value of the future receipts discounted at a market rate of interest.

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	Employees and directors

The average number of employees during the year was 5 (2024 - 5 ) .

5.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 August 2024

85,488

69,519

155,007

Additions

-

1,424

1,424

Disposals

-

(928

)

(928

)

At 31 July 2025

85,488

70,015

155,503

Depreciation

At 1 August 2024

51,634

52,145

103,779

Charge for year

1,710

3,709

5,419

Eliminated on disposal

-

(928

)

(928

)

At 31 July 2025

53,344

54,926

108,270

Net book value

At 31 July 2025

32,144

15,089

47,233

At 31 July 2024

33,854

17,374

51,228

6.	Fixed asset investments

Other

investments

£

Cost

At 1 August 2024

and 31 July 2025

690

Net book value

At 31 July 2025

690

At 31 July 2024

690

The fixed asset investment valuation is not materially different to the cost.

7.	Investment property

Total

£

Fair value

At 1 August 2024

4,653,695

Additions

469,195

Fair value adjustment

94,500

At 31 July 2025

5,217,390

Net book value

At 31 July 2025

5,217,390

At 31 July 2024

4,653,695

Investment properties

2025

2024

£

£

Freehold property

4,025,695

3,887,782

Long leasehold property

1,191,695

765,913

5,217,390

4,653,695

Fair value at 31 July 2025 is represented by:

£

Valuation in 2025

2,489,265

Cost

2,728,125

5,217,390

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

2025

2024

£

£

Cost

2,728,125

2,258,930

Aggregate depreciation

(22,539

)

(22,539

)

Investment properties were valued on an open market basis on 31 July 2025 by the directors .

8.

Debtors

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

18,796

7,463

Other debtors

396,582

399,270

415,378

406,733

Amounts falling due after more than one year:

Amounts owed by group undertakings

-

349,395

Aggregate amounts

415,378

756,128

9.	Current asset investments

2025

2024

£

£

Other

6,709

6,709

Current asset investments consist of deposits with banks and other financial institutions.

10.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

169,104

146,166

Amounts owed to group undertakings

3,392,211

2,375,594

Taxation and social security

55,358

73,960

Other creditors

77,673

73,115

3,694,346

2,668,835

11.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Other creditors

59,025

90,830

12.	Provisions for liabilities

2025

2024

£

£

Deferred tax

Other timing differences

284,000

277,000

Other provisions

37,760

37,760

321,760

314,760

Deferred

Other

tax

provisions

£

£

Balance at 1 August 2024

277,000

37,760

Provided during year

7,000

-

Balance at 31 July 2025

284,000

37,760

13.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

3,500

Ordinary

£1

3,500

3,500

14.

Reserves

Fair

value

reserve

£

At 1 August 2024

2,250,275

Transfer fair value movement

gain / (loss) on investment

properties

94,500

Deferred tax on investment property fair value (gain) / loss

(7,000

)

At 31 July 2025

2,337,775

15.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Angela Chorlton FCA (Senior Statutory Auditor)

for and on behalf of S&W Audit

16.	Ultimate controlling party

The company is a subsidiary undertaking of Leck Group Limited, a company incorporated in Great Britain. V and CM Barker control Leck Group Limited as they own 84% of its share capital.

Leck Group Limited is the sole parent company of the group of which the company is a member and for which group accounts are drawn up. Copies of the group accounts are available from Leck House, 80 Deansgate Lane, Timperley, Altrincham, Cheshire, WA14 1SP.

As a subsidiary of Leck Group Limited, the company has taken advantage of the exemption in FRS102 from disclosing transactions with other members of the group headed by Leck Group Limited.