JGH (Oxygen) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13428273

JGH (Oxygen) Limited

Filleted Unaudited Financial Statements

31 May 2025

JGH (Oxygen) Limited

Statement of Financial Position

31 May 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		3,163,016	3,171,359

Current assets

Debtors	6	10,089	11,421
Cash at bank and in hand		52	16
		--------	--------
		10,141	11,437

Creditors: amounts falling due within one year	7	( 1,380,746)		( 1,431,223)
		------------		------------
Net current liabilities			( 1,370,605)	( 1,419,786)
			------------	------------
Total assets less current liabilities			1,792,411	1,751,573

Creditors: amounts falling due after more than one year	8		( 1,801,685)	( 1,796,333)

Provisions	( 3,462)	( 5,547)
	------------	------------
Net liabilities	( 12,736)	( 50,307)
	------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 12,836)	( 50,407)
	--------	--------
Shareholders deficit	( 12,736)	( 50,307)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 May 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

JGH (Oxygen) Limited

Statement of Financial Position (continued)

31 May 2025

These financial statements were approved by the board of directors and authorised for issue on 24 February 2026 , and are signed on behalf of the board by:

Mr S A Jumani	Mr M D Curtis
Director	Director

Company registration number: 13428273

JGH (Oxygen) Limited

Notes to the Financial Statements

Year ended 31 May 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 30 Woodsford Square, London, W14 8DP, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on the going concern basis after taking into account the excess of liabilities over assets at the balance sheet date, as the directors believe that adequate cash resources will be available to operate for the foreseeable future, which covers a period of not less than twelve months from the date the financial statements are approved. The directors will continue to provide financial support and will not seek repayment of the loans provided until the company has sufficient cash reserves.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Valuation of investment property: The valuation of the company's investment property is inherently subjective due to, among other factors, the nature of the property, its location and the expected future rental revenues from that particular property. As a result, the valuation the company places on its investment property is subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of volatility or low transaction flow in the property market.

Revenue recognition

Turnover represents rents receivable from letting of investment properties during the year.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	20% straight line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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 and loans to related parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, 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, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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 value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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 payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

4. Employee numbers

The average number of persons employed by the company during the year was Nil.

5. Tangible assets

	Investment properties	Fixtures and fittings	Total
	£	£	£
Cost
At 1 June 2024	3,149,170	44,255	3,193,425
Additions	–	636	636
	------------	--------	------------
At 31 May 2025	3,149,170	44,891	3,194,061
	------------	--------	------------
Depreciation
At 1 June 2024	–	22,066	22,066
Charge for the year	–	8,979	8,979
	------------	--------	------------
At 31 May 2025	–	31,045	31,045
	------------	--------	------------
Carrying amount
At 31 May 2025	3,149,170	13,846	3,163,016
	------------	--------	------------
At 31 May 2024	3,149,170	22,189	3,171,359
	------------	--------	------------

The directors have reviewed the fair value of the investment properties at the balance sheet date and consider the value to be £3,149,170 (2024: £3,149,170).

6. Debtors

	2025	2024
	£	£
Trade debtors	771	–
Prepayments and accrued income	9,318	11,421
	--------	--------
	10,089	11,421
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Amounts owed to group undertakings	42,743	38,110
Accruals and deferred income	15,718	16,354
Director loan accounts	1,322,285	1,376,759
	------------	------------
	1,380,746	1,431,223
	------------	------------

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

	2025	2024
	£	£
Bank loans and overdrafts	1,801,685	1,796,333
	------------	------------

Bank loans of £1,801,685 (2024: £1,796,333) are secured by a fixed charge over the company's investment properties.

9. Related party transactions

1) Included in creditors due within one year, is a loan of £1,322,285 (2024: £1,376,759) from the directors. The loan is interest-free and has no fixed repayment term. 2) One of the directors and his close family member have provided personal guarantees in respect of the company's bank loans. 3) The company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.