Company registration number 10792439 (England and Wales)
JESSOPS DEVELOPMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
JESSOPS DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
JESSOPS DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT 31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
884,352
884,352
Current assets
Debtors
5
100
100
Cash at bank and in hand
59,049
41,291
59,149
41,391
Creditors: amounts falling due within one year
6
(728,560)
(729,350)
Net current liabilities
(669,411)
(687,959)
Total assets less current liabilities
214,941
196,393
Provisions for liabilities
(26,356)
(26,356)
Net assets
188,585
170,037
Capital and reserves
Called up share capital
7
100
100
Revaluation reserve
8
79,068
79,068
Profit and loss reserves
109,417
90,869
Total equity
188,585
170,037

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 6 June 2026
R Wherry
Director
Company registration number 10792439 (England and Wales)
JESSOPS DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 2 -
1
Accounting policies
Company information

Jessops Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/o Mercer & Hole, Trinity Court, Church Street, Rickmansworth, WD3 1RT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has disposed of all of its investment properties subsequent to the year end, which represented its sole trading activity. Following this disposal, the company true has cease d to trade and the director ha s therefore concluded that it is not appropriate to prepare the financial statements on a going concern basis.

Accordingly, the financial statements have been prepared on a basis other than going concern. No adjustments have been made to the carrying value of assets and liabilities in the current period as a result of adopting this basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for property rental provided in the normal course of business, and is shown net of value added tax and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash at bank and in hand 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.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

JESSOPS DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

JESSOPS DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Investment properties

A key area of judgement in the financial statements relates to the carrying value of the investment properties which are stated at fair value. The Director has reviewed the market conditions a nd sales prices based upon known market transactions for similar properties as a basis for determining the directors' estimation of the fair value of the investment properties. However, the valuation of the groups investment properties is inherently subjective, as it is made on the basis of valuation assumptions which may in the future not prove to be accurate. In addition, the deferred tax liabilities recognised in respect of the fair value gains and losses on these investment properties are assessed on the basis of assumptions regarding the future, the likelihood that assets will be realised and liabilities will be settled, and estimates as to the timing of those future events and as to the future tax rates that will be applicable.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
4
Investment property
2025
£
Fair value
At 1 June 2024 and 31 May 2025
884,352
JESSOPS DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
4
Investment property
(Continued)
- 5 -

The fair value of the investment properties have been arrived at on the basis of a director's valuation based upon advice sought from independent parties; however, this does not constitute a formal valuation.
In accordance with the requirements of FRS102, deferred tax on any potential gain has been provided for in full.

Subsequent to the year end, all of the investment properties were disposed of.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
100
100
6
Creditors: amounts falling due within one year
2025
2024
£
£
Amounts owed to group undertakings
722,893
722,893
Corporation tax
5,667
6,457
728,560
729,350
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100

8
Revaluation reserve
2025
2024
£
£
At the beginning and end of the year
79,068
79,068
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

JESSOPS DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
9
Audit report information
(Continued)
- 6 -
Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 May 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Jolene Upshall FCA
Statutory Auditor:
Mercer & Hole LLP
Date of audit report:
8 June 2026
10
Events after the reporting date

Subsequent to the year end, Jessops Developments Limited disposed of its entire portfolio of investment properties in a series of transactions completed between November 2025 and January 2026.

The directors have reviewed the carrying value of these properties at the balance sheet date and are satisfied that no impairment was required prior to disposal.

Following the completion of these transactions, the Company has ceased its investment property activities. The director does not intend for the Company to continue trading and, accordingly, the financial statements have not been prepared on a going concern basis.

As a result, the financial statements have been prepared on an alternative basis of preparation. Under this basis, assets are stated at their net realisable values and liabilities are stated at the amounts expected to be settled. The director has assessed the net realisable value of assets and liabilities and are satisfied that these are not materially different from their carrying values at the balance sheet date.

11
Parent company

In the current year the company was a wholly owned subsidiary of Jessops (Holdings) Limited, as it owned 100% of the issued share capital.

The largest and smallest group in which results of the company are consolidated is that of Jessops (Holdings) Limited. Jessops (Holdings) Limited has a registered office of Trinity Court, Church Street, Rickmansworth, WD3 1RT.

R Wherry was the ultimate controlling party throughout the prior and current year as he owns 100% of the issued share capital of Jessops (Holdings) Limited.

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