Company No: 02110837 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	2,001		1,247
Investment property	4	484,564		543,000
Investments	5	64,229		17,913
		550,794		562,160
Current assets
Debtors
- due within one year	6	150,671		289,926
- due after more than one year	6	50,000		50,000
Cash at bank and in hand		111,388		268,398
		312,059		608,324
Creditors: amounts falling due within one year	7	( 5,991)		( 40,228)
Net current assets		306,068		568,096
Total assets less current liabilities		856,862		1,130,256
Provision for liabilities		( 49,409)		( 60,369)
Net assets		807,453		1,069,887
Capital and reserves
Called-up share capital	8	1,000		1,000
Profit and loss account	10	806,453		1,068,887
Total shareholders' funds		807,453		1,069,887

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of J.B. & G. Trading Limited (registered number: 02110837) were approved and authorised for issue by the Board of Directors on 20 November 2025. They were signed on its behalf by:

Freda Annis Gittos Director

1. Accounting policies

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.

General information and basis of accounting

J.B. & G. Trading Limited (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 Woodland Place, The Hudnalls, St.Briavels, GL15 6RT, 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings	15 % reducing balance
Computer equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Tangible assets

	Fixtures and fittings		Computer equipment		Total
	£		£		£
Cost
At 01 April 2024	843		1,458		2,301
Additions	0		1,529		1,529
At 31 March 2025	843		2,987		3,830
Accumulated depreciation
At 01 April 2024	659		395		1,054
Charge for the financial year	28		747		775
At 31 March 2025	687		1,142		1,829
Net book value
At 31 March 2025	156		1,845		2,001
At 31 March 2024	184		1,063		1,247

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	543,000
Fair value movement	(58,436)
As at 31 March 2025	484,564

Valuation

The fair value of the investment properties have been arrived at on the basis of a valuation carried out by the director. The valuation
was made on an open market basis by reference to market evidence of transaction prices for similar properties

5. Fixed asset investments

	Listed investments		Other investments		Total
	£		£		£
Cost or valuation before impairment
At 01 April 2024	290		17,623		17,913
Additions	0		46,142		46,142
Movement in fair value	174		0		174
At 31 March 2025	464		63,765		64,229
Carrying value at 31 March 2025	464		63,765		64,229
Carrying value at 31 March 2024	290		17,623		17,913

6. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Amounts owed by directors	52,411		69,853
Prepayments	0		125
Corporation tax	64,200		63,689
Other debtors	34,060		156,259
	150,671		289,926
Debtors: amounts falling due after more than one year
Other debtors	50,000		50,000

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Accruals	3,792		2,940
Taxation and social security	2,199		36,232
Other creditors	0		1,056
	5,991		40,228

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100,000 Ordinary shares of £ 0.01 each	1,000		1,000

9. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Loans due from directors	52,411		69,853

Interest has been charged on the above loans to directors at HMRC's official interest rate.

Other related party transactions

	2025		2024
	£		£
Loan to F A Gittos Discretionary Trust	34,060		156,259
Dividends paid to shareholders	224,000		0

10. Profit and loss reserve

Within the profit and loss reserve is a non-distributable amount of £314,938 (2024: £361,947), comprising the total unrealised gain on investment property of £363,967 (2024: £422,073) less the estimated associated deferred tax charge of £49,029 (2024: £60,126). Distributable reserves at the balance sheet date are £491,515 (2024: £706,940).