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Company No: 01482316 (England and Wales)

# J & B GIBBS & SONS LTD

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

J & B GIBBS & SONS LTD

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

J & B GIBBS & SONS LTD

## BALANCE SHEET

As at 31 December 2025
J & B GIBBS & SONS LTD

## BALANCE SHEET (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 3 | 810,000 |  | 820,000
Investments | 4 | 576,539 |  | 620,843
|  | 1,386,539 |  | 1,440,843
Current assets |  |  |  |
Debtors | 5 | 1,414 |  | 2,010
Cash at bank and in hand |  | 63,837 |  | 53,137
|  | 65,251 |  | 55,147
Creditors: amounts falling due within one year | 6 | ( 14,952) |  | ( 24,550)
Net current assets |  | 50,299 |  | 30,597
Total assets less current liabilities |  | 1,436,838 |  | 1,471,440
Provision for liabilities | 7 | ( 37,866) |  | ( 37,492)
Net assets |  | 1,398,972 |  | 1,433,948
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Undistributable reserve |  | 1,275,498 |  | 1,259,097
Profit and loss account |  | 123,374 |  | 174,751
Total shareholders' funds |  | 1,398,972 |  | 1,433,948

For the financial year ending 31 December 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 Profit and Loss Account has not been delivered.

The financial statements of J & B Gibbs & Sons Ltd (registered number: 01482316) were approved and authorised for issue by the Board of Directors on 26 May 2026. They were signed on its behalf by:

S J Lewis Director |

J & B GIBBS & SONS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
J & B GIBBS & SONS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

J & B Gibbs & Sons Ltd (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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

##### Turnover

Turnover represents rents receivable in relation to investment properties and is recognised in the period of occupation of the property by the tenant.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

##### 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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.

##### Trade and other debtors

Trade debtors are amounts due for rent owed from tenants and income owed from securities in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

##### 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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Investment property

| Investment property
| £
Valuation |
As at 01 January 2025 | 820,000
Fair value movement | (10,000)
As at 31 December 2025 | 810,000

Valuation

Investment properties were revalued on 31 December 2025 by the directors who are internal to the company. The basis of this valuation was open market value. The historical cost of the investment properties is £50,687 (2024 - £50,687).

#### 4. Fixed asset investments

| Listed investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 January 2025 | 620,843 |  | 620,843
Additions | 90,154 |  | 90,154
Disposals | ( 161,233) |  | ( 161,233)
Movement in fair value | 26,775 |  | 26,775
At 31 December 2025 | 576,539 |  | 576,539
Carrying value at 31 December 2025 | 576,539 |  | 576,539
Carrying value at 31 December 2024 | 620,843 |  | 620,843

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Other debtors | 1,414 |  | 2,010

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

| 2025 |  | 2024
| £ |  | £
Taxation and social security | 11,076 |  | 20,666
Other creditors | 3,876 |  | 3,884
| 14,952 |  | 24,550

#### 7. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 37,866 |  | 37,492