JMO Developments Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 10259528 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2025

for

JMO Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms A D O'Neill

A R Metcalfe

REGISTERED OFFICE:

6 Church Crescent

Whetstone

London

N20 0JP

REGISTERED NUMBER:

10259528 (England and Wales)

FIXED ASSETS

Investment property

4

2,485,005

CURRENT ASSETS

Debtors

5

10,711

Cash at bank

24,131

5,231

34,842

15,942

CREDITORS

Amounts falling due within one year

6

1,140,259

1,140,428

NET CURRENT LIABILITIES

(1,105,417

)

(1,124,486

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,379,588

1,360,519

CREDITORS

Amounts falling due after more than one
year

7

(1,158,830

)

(1,163,027

)

PROVISIONS FOR LIABILITIES

8

(30,867

)

(30,867

)

NET ASSETS

189,891

166,625

CAPITAL AND RESERVES

Called up share capital

9

1

Fair value reserve

10

103,936

Retained earnings

10

85,954

62,688

SHAREHOLDERS' FUNDS

189,891

166,625

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 9 December 2025 and were signed on its behalf by:

A R Metcalfe - Director

1.	STATUTORY INFORMATION

JMO Developments 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 as modified by the revaluation of certain assets.

Significant judgements and estimates

Estimates and judgments 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.

No significant judgments have had to be made by the directors in preparing these financial statements.

The directors have made key assumptions in the determination of the fair value of investment properties in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefit 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 service 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 turnover 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.

Rental income is billed monthly in advance and is recognised in the calendar month thereafter.

Investment property

Investment properties are carried at fair value determined annually 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 the statement of comprehensive income.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties, loan to related parties and investments in non-puttable ordinary shares.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in life.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - NIL ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2024

and 31 July 2025

2,485,005

NET BOOK VALUE

At 31 July 2025

2,485,005

At 31 July 2024

2,485,005

Fair value at 31 July 2025 is represented by:

£

Valuation in 2017

74,803

Valuation in 2018

60,000

Cost

2,350,202

2,485,005

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

Cost

2,350,202

Investment property was valued on an open market basis on 31 July 2025 by its directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

9,853

Prepayments and accrued income

858

10,711

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Tax

2,830

-

Other creditors

481,860

Directors' current accounts

654,367

657,366

Accruals and deferred income

1,202

1,140,259

1,140,428

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans - 2-5 years

1,153,360

Bank loans more 5 yr by instal

5,470

9,667

1,158,830

1,163,027

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

5,470

9,667

During the year ended 31 July 2025, interest rate has been charged at 5.74% - 6.89%. Bank borrowing is secured by legal mortgage charge over the freehold property, held in investment properties. Mortgage term is 25 - 34 years and interest rate on the bank loan is fixed for 5 years at 5.74% - 6.89%.

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

30,867

Deferred

tax

£

Balance at 1 August 2024

30,867

Balance at 31 July 2025

30,867

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100

Ordinary

0.01

1

10.

RESERVES

Profit and loss accounts includes all current period retained profits and losses.

Fair value reserves includes all current period deferred tax charges on revaluation of investment property and gains and losses on revaluation of investment property.

11.	RELATED PARTY DISCLOSURES

Creditors: Amount falling due within one year comprise an interest free loan of £1,136,227 (2024 - £1,139,226) of which £654,367 (2024 - £657,367) was due to directors and £481,860 (2024 - £481,860) was due to Adrian Metcalfe Consulting Limited. This loan was unsecured and repayable on demand. During the year, maximum amount of loan due to directors was £654,367.

Mr. A R Metcalfe is a director and also a shareholder in Adrian Metcalfe Consulting Limited.

12.	ULTIMATE CONTROLLING PARTY

The company is jointly controlled by its directors by virtue of equal shareholding.