REGISTERED NUMBER: 04227399 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

JGWCO 178 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M A Joyce

REGISTERED OFFICE:

Central House

47 St. Pauls Street

Leeds

LS12TE

REGISTERED NUMBER:

04227399 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

Equinox House

Clifton Park, Shipton Road

York

YO30 5PA

FIXED ASSETS

Investments

4

185,539

185,539

Investment property

5

1,483,334

1,477,877

1,668,873

1,663,416

CURRENT ASSETS

Debtors

6

242,941

176,721

Cash at bank

10,161

21,878

253,102

198,599

CREDITORS

Amounts falling due within one year

7

(1,672,683

)

(1,501,987

)

NET CURRENT LIABILITIES

(1,419,581

)

(1,303,388

)

TOTAL ASSETS LESS CURRENT LIABILITIES

249,292

360,028

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

249,291

360,027

SHAREHOLDERS' FUNDS

249,292

360,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 1 July 2026 and were signed by:

M A Joyce - Director

1.	STATUTORY INFORMATION

JGWCO 178 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In applying the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities. Estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The main judgement concerns the likely future demand for the company's products and how that impacts on the carrying value of stock. The director has based his judgement on his considerable experience and understanding of the product and its marketplace.

Turnover

Turnover represents property sales, excluding value added tax.

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The company enters into basic financial instrument transactions resulting in the recognition of financial assets and liabilities such as trade debtors and trade creditors, loans from banks and loans to and from related parties. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured at the undiscounted constitutes a financing transaction, such as the payment of a trade debt beyond normal business terms or financed at a non-market rate of interest, the financial asset or liability is measured at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Taxation

Taxation for the year 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST

At 1 November 2024

and 31 October 2025

55

185,484

185,539

NET BOOK VALUE

At 31 October 2025

55

185,484

185,539

At 31 October 2024

55

185,484

185,539

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2024

1,477,877

Additions

5,457

At 31 October 2025

1,483,334

NET BOOK VALUE

At 31 October 2025

1,483,334

At 31 October 2024

1,477,877

The director has considered the fair value of the investment properties and believes that the carrying value within the financial statements at 31 October 2024 continues to be fair.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,328

10,070

Amounts owed by related undertakings

199,598

162,399

VAT

34,266

-

Prepayments and accrued income

7,749

4,252

242,941

176,721

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

733

-

Amounts owed to group undertakings

1,667,054

1,482,055

Corporation tax

2,213

-

VAT

-

11,389

Accruals and deferred income

2,683

8,543

1,672,683

1,501,987

8.	RELATED PARTY DISCLOSURES

Controlling parties

The company is controlled by M A Joyce through his beneficial interest in the parent company Precis (1638) Limited.

Related party transactions and balances

Amounts owed to related undertakings

2025

2024

£

£

Ratefield Limited

1,404,961

1,476,500

Precis (1638) Limited

262,093

5,555

Total owed to related undertakings

1,667,054

1,482,055

Amounts owed by related undertakings

AQH Micklegate (2015) Limited

199,598

140,432

Seacroft Approach Limited

-

21,967

Total owed by related undertakings

199,598

162,399

Interest paid to related undertakings

Ratefield Limited

20,791

19,296

Precis (1638) Limited

1,358

1,415

Total interest paid to related undertakings

22,149

20,711

During the year the company paid a management charge to Ratefield Limited of £nil (2024: £159,286).

During the year the company paid management charges of Precis (1638) Limited of £144,216 (2024: nil).

During the year the company received management charges of Precis (1638) Limited of £nil (2024: 120,180).

9.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its director, M A Joyce, through his beneficial interest in the ultimate parent company, Precis (1638) Limited.