REGISTERED NUMBER: 15358107 (England and Wales)

Financial Statements

for the Period 18 December 2023 to 31 December 2024

for

J Marylebone Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mohamed Jasim Mohamed Ebrahim AlShaikh

REGISTERED OFFICE:

St Johns House

16 Church Street

Bromsgrove

Worcestershire

B61 8DN

REGISTERED NUMBER:

15358107 (England and Wales)

AUDITORS:

Clay GBP Audit Limited

St Johns House

16 Church Street

Bromsgrove

Worcestershire

B61 8DN

FIXED ASSETS

Tangible assets

4

439,575

CURRENT ASSETS

Debtors

5

389,509

Cash at bank

1,000

390,509

CREDITORS

Amounts falling due within one year

6

1,424,395

NET CURRENT LIABILITIES

(1,033,886

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(594,311

)

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

(594,411

)

SHAREHOLDERS' FUNDS

(594,311

)

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 director and authorised for issue on 9 June 2026 and were signed by:

Mohamed Jasim Mohamed Ebrahim AlShaikh - Director

1.	STATUTORY INFORMATION

J Marylebone 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.

The financial statements are presented in Pound Sterling (£), which is the functional currency of the company.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, sales returns, rebates and discounts.

Revenue is recognised on the provision of services. Where not all services have been rendered, revenue is recognised based upon the period elapsed relative to the total period over which the services are delivered.

Tangible fixed assets

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

Fixtures and fittings - 20% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of a company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the income statement.

Financial assets and liabilities

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs).

Trade debtors

Trade debtors are recognised initially at transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for 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 receivable.

Trade creditors

Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as amounts falling due after more than one year.

Equity instruments

Equity instruments are measured at the fair value of the cash or other resources transferred or transferrable, net of the direct costs of issuing or receiving the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern

At the balance sheet date there is an excess of current liabilities over current assets. This position creates uncertainty over the ability of the company to continue as a going concern.

The company is dependent on the continued financial support of the wider group in order to enable it to meet its liabilities as they fall due, for a period of at least 12 months from the date that these financial statements are approved, including not recalling any debts for repayment.

Based upon current expectations and with the continue support of the group, the company are forecast to have sufficient resources to meet their liabilities for the foreseeable future.

As such, the director does not consider there to be a material uncertainty in relation to the ability of the company to continue as a going concern and believes that preparing the financial statements on the going concern basis is appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

650,828

At 31 December 2024

650,828

DEPRECIATION

Charge for period

211,253

At 31 December 2024

211,253

NET BOOK VALUE

At 31 December 2024

439,575

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

27,521

Amounts owed by group undertakings

100

Other debtors

361,888

389,509

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

32,715

Amounts owed to group undertakings

948,884

Other creditors

442,796

1,424,395

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

2,900,000

Between one and five years

10,391,667

13,291,667

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion

During the period, the company changed its internal hotel booking system. Following the change in system, no historic evidence was made available to us in relation to hotel bookings made under the previous system and their associated revenue documentation. We were unable to satisfy ourselves by alternative means concerning the revenue recognised in the period, as stated in the profit and loss account. Despite this, due to the "pay on check-in" policy, we are satisfied that the issue we identified is isolated to revenue only. As a result of this matter, we were unable to determine whether any adjustments might have been found necessary in respect of recorded or unrecorded revenue.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Robert Kempson ACA (Senior Statutory Auditor)

for and on behalf of Clay GBP Audit Limited

10.	OTHER FINANCIAL COMMITMENTS

QIB (UK) plc has a fixed charge over all the assets and undertakings of the company, for bank borrowings to Saint Marylebone Limited, a group company.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption conferred within FRS102 section 33.1A not to disclose transactions between wholly owned members of the same group.

During the year, BS UK Dev Limited, an associated company, paid for services on behalf of the company, giving rise to a creditor balance of £108,000 included within other creditors at 31 December 2024.

12.	PARENT AND ULTIMATE CONTROLLING PARTY

The parent company is Scorpius Estate Limited.

The ultimate controlling party is Blacksand Real Estate Company W.L.L, a company incorporated in the Kingdom of Bahrain.