Company No:
Contents
| Note | 2026 | 2025 | ||
| £ | £ | |||
| Restated - note 2 | ||||
| Fixed assets | ||||
| Investment property | 4 |
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| 625,000 | 1,124,468 | |||
| Current assets | ||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| 429,568 | 5,615 | |||
| Creditors: amounts falling due within one year | 6 | (
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(
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| Net current assets/(liabilities) | 407,612 | (5,336) | ||
| Total assets less current liabilities | 1,032,612 | 1,119,132 | ||
| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Revaluation reserve |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of JM Group (RWB) LTD (registered number:
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J White
Director |
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.
JM Group (RWB) 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 143 High Street, Royal Wootton Bassett, Wiltshire, SN4 7AB, 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 £.
Property management
Revenue in respect to property management is recognised on an accruals basis in the period to which the rent applies.
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.
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 average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
During the year, the directors identified that properties had been incorrectly classified as freehold land and buildings in prior periods. Following a review of the nature and use of these assets, it was concluded that the properties meet the definition of investment property and should therefore be accounted for as investment properties.
As a result, the comparative figures have been restated to reclassify the properties from tangible fixed assets to investment properties. In addition, depreciation previously charged on these properties has been reversed, as investment properties are not depreciated under the Company's accounting policy. The carrying value of the properties and retained earnings at the comparative balance sheet date have been adjusted accordingly.
The prior year adjustment increased investment properties by £1,123,136 (2024: nil), reduced tangible fixed assets by £1,080,861 (2024: 1,089,985), increased retained earnings by £33,151 representing depreciation previously charged, and reduced administrative expenses in the comparative period by £10,456.
The correction has been accounted for as a prior year adjustment in accordance with FRS 102. Comparative information has been restated to reflect the revised classification and measurement of the properties.
| As previously reported | Adjustment | As restated | ||||
| Year ended 31 January 2025 | £ | £ | £ | |||
| Investment property | 0 | 1,123,136 | 1,123,136 | |||
| Freehold land and buildings | 997,147 | (997,147) | 0 | |||
| Improvements to property | 83,714 | (83,714) | 0 | |||
| Retained Earnings | (25,069) | 33,151 | 8,082 | |||
| Administrative expenses | 26,622 | (10,456) | 16,166 |
| 2026 | 2025 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Investment property | |
| £ | |
| Valuation | |
| As at 01 February 2025 |
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| Additions | 900 |
| Fair value movement | 17,862 |
| Disposals | (518,230) |
| As at 31 January 2026 |
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Investment properties are included in the balance sheet at the directors' valuation as at 31 January 2026, based on an existing use open market value.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
| 2026 | 2025 | ||
| £ | £ | ||
| Historic cost | 606,238 | 1,124,468 |
| 2026 | 2025 | ||
| £ | £ | ||
| Other debtors |
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| 2026 | 2025 | ||
| £ | £ | ||
| Trade creditors |
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| Accruals |
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| Corporation tax |
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| Other creditors |
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At the year end the company was owed £427,116 by an associated company (2025 - £nil). The loan is interest free and repayable on demand.
During the year, the company sold two investment properties to a company controlled by the spouse of a director for consideration of £420,000. The properties were sold at market value and settled in cash.