Company registration number 03623591 (England and Wales)
JMC DRYWALL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
Affinia
Swift House
Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
UK
CM1 1GU
JMC DRYWALL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
JMC DRYWALL LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
145,800
175,066
Current assets
Debtors
5
1,478,009
1,441,440
Cash at bank and in hand
650,068
673,130
2,128,077
2,114,570
Creditors: amounts falling due within one year
6
(1,474,177)
(1,524,712)
Net current assets
653,900
589,858
Total assets less current liabilities
799,700
764,924
Creditors: amounts falling due after more than one year
7
(64,297)
(106,559)
Provisions for liabilities
(36,450)
(43,766)
Net assets
698,953
614,599
Capital and reserves
Called up share capital
8
40,035
40,035
Capital redemption reserve
1
1
Profit and loss reserves
658,917
574,563
Total equity
698,953
614,599
JMC DRYWALL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved by the board of directors and authorised for issue on 19 June 2026 and are signed on its behalf by:
Mr C Luscombe
Director
Company registration number 03623591 (England and Wales)
JMC DRYWALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

JMC Drywall Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4, Grange Farm, Grange Road, Tiptree, Essex, UK, CO5 0QQ.

1.1
Basis of preparation

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. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

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

Revenue from contracts for the provision of dry lining and plastering services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
50% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

JMC DRYWALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.6
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 current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

1.8
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.

1.9
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.

JMC DRYWALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.10
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.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

3
Employees

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

2025
2024
Number
Number
Total
12
14
JMC DRYWALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2025
282,112
Additions
24,782
At 31 December 2025
306,894
Depreciation and impairment
At 1 January 2025
107,046
Depreciation charged in the year
54,048
At 31 December 2025
161,094
Carrying amount
At 31 December 2025
145,800
At 31 December 2024
175,066
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,003,522
1,009,118
Other debtors
474,487
432,322
1,478,009
1,441,440
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
264,060
352,741
Trade creditors
729,534
562,831
Taxation and social security
95,667
107,543
Other creditors
384,916
501,597
1,474,177
1,524,712
JMC DRYWALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
6
Creditors: amounts falling due within one year
(Continued)
- 7 -

Other creditors includes £42,262 (2024: £43,222) in respect of liabilities due relating to finance leases. The finance leases are secured on the assets concerned.

The following part y has a fixed, floating and negative pledge charge over the property within these accounts:

Bibby Financial Services Ltd

The total creditor secured is £264,060 (2024: £334,222).

Specific details of the charge appear on the public record and are available from Companies House.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
64,297
106,559

Other creditors includes £64,297 (2024: £106,559) in respect of liabilities due relating to finance leases. The finance leases are secured on the assets concerned.

8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
40,035
40,035
40,035
40,035

The Ordinary shares carry equal rights in relation to voting, participating in dividends and participating in the distribution of capital in winding up the company.

9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
166,893
6,571
JMC DRYWALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
10
Related party transactions
Balances with related parties
Amounts owed by
Amounts owed to
related parties
related parties
2025
2024
2025
2024
£
£
£
£
Entities with control, joint control or significant influence over the company
269,999
269,999
-
0
-
0
11
Directors' transactions

At the balance sheet date, the directors owed the company £72 (2024: £685). This was repaid within 9 months of the year end.

12
Parent company

The ultimate parent company is Verdani Capital2 Limited, the registered office of the parent company is Swift House, Ground Floor, 18 Hoffmanns Way, Chelmsford, Essex, England, CM1 1GU.

2025-12-31 2025-01-01 false false false 19 June 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mr C Luscombe Mr L Smith Mr J Bedwell Mr R Saveall 03623591 2025-01-01 2025-12-31 03623591 2025-12-31 03623591 2024-12-31 03623591 core:OtherPropertyPlantEquipment 2025-12-31 03623591 core:OtherPropertyPlantEquipment 2024-12-31 03623591 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 03623591 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 03623591 core:WithinOneYear 2025-12-31 03623591 core:WithinOneYear 2024-12-31 03623591 core:AfterOneYear 2025-12-31 03623591 core:AfterOneYear 2024-12-31 03623591 core:CurrentFinancialInstruments 2025-12-31 03623591 core:CurrentFinancialInstruments 2024-12-31 03623591 core:ShareCapital 2025-12-31 03623591 core:ShareCapital 2024-12-31 03623591 core:CapitalRedemptionReserve 2025-12-31 03623591 core:CapitalRedemptionReserve 2024-12-31 03623591 core:RetainedEarningsAccumulatedLosses 2025-12-31 03623591 core:RetainedEarningsAccumulatedLosses 2024-12-31 03623591 core:ShareCapitalOrdinaryShareClass1 2025-12-31 03623591 core:ShareCapitalOrdinaryShareClass1 2024-12-31 03623591 bus:Director1 2025-01-01 2025-12-31 03623591 core:FurnitureFittings 2025-01-01 2025-12-31 03623591 core:MotorVehicles 2025-01-01 2025-12-31 03623591 2024-01-01 2024-12-31 03623591 core:OtherPropertyPlantEquipment 2024-12-31 03623591 core:OtherPropertyPlantEquipment 2025-01-01 2025-12-31 03623591 core:Non-currentFinancialInstruments 2025-12-31 03623591 core:Non-currentFinancialInstruments 2024-12-31 03623591 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 03623591 bus:OrdinaryShareClass1 2025-12-31 03623591 bus:OrdinaryShareClass1 2024-12-31 03623591 core:UltimateParent 2025-01-01 2025-12-31 03623591 core:UltimateParent 2025-12-31 03623591 core:UltimateParent 2024-12-31 03623591 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 03623591 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 03623591 bus:FRS102 2025-01-01 2025-12-31 03623591 bus:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 03623591 bus:Director2 2025-01-01 2025-12-31 03623591 bus:Director3 2025-01-01 2025-12-31 03623591 bus:Director4 2025-01-01 2025-12-31 03623591 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP