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REGISTERED NUMBER: 09490046 (England and Wales)















Unaudited Financial Statements

FOR THE PERIOD

1 April 2023 to 31 December 2023

for

Mafin Group Limited

Mafin Group Limited (Registered number: 09490046)






Contents of the Financial Statements
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mafin Group Limited

Company Information
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023







DIRECTORS: Mrs M A Fish
Mr J E B Fish





SECRETARY: Mr J E B Fish





REGISTERED OFFICE: 40 Hillfield Road
London
NW6 1PZ





REGISTERED NUMBER: 09490046 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

Mafin Group Limited (Registered number: 09490046)

Balance Sheet
31 DECEMBER 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 901,867 855,358
Investments 5 151 101
902,018 855,459

CURRENT ASSETS
Debtors 6 176,175 4,180
Cash at bank and in hand 13,805 5,419
189,980 9,599
CREDITORS
Amounts falling due within one year 7 512,490 252,649
NET CURRENT LIABILITIES (322,510 ) (243,050 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

579,508

612,409

CREDITORS
Amounts falling due after more than one
year

8

(4,249

)

(43,902

)

PROVISIONS FOR LIABILITIES (171,436 ) (171,436 )
NET ASSETS 403,823 397,071

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 421,906 432,355
Retained earnings (18,183 ) (35,384 )
SHAREHOLDERS' FUNDS 403,823 397,071

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Mafin Group Limited (Registered number: 09490046)

Balance Sheet - continued
31 DECEMBER 2023


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 Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





Mr J E B Fish - Director


Mafin Group Limited (Registered number: 09490046)

Notes to the Financial Statements
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023

1. STATUTORY INFORMATION

Mafin Group 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.

Going concern
These accounts have been prepared on the going concern basis. The company had net liabilities at the balance sheet date and is reliant upon the continued support of the director and shareholders.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant & machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 3 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Mafin Group Limited (Registered number: 09490046)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision 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.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Mafin Group Limited (Registered number: 09490046)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Freehold property
Freehold property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in other comprehensive income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant & and
property machinery fittings
£    £    £   
COST
At 1 April 2023 985,000 - -
Reclassification/transfer - 12,968 44,089
At 31 December 2023 985,000 12,968 44,089
DEPRECIATION
At 1 April 2023 129,642 - -
Charge for period 14,802 - -
At 31 December 2023 144,444 - -
NET BOOK VALUE
At 31 December 2023 840,556 12,968 44,089
At 31 March 2023 855,358 - -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 - - 985,000
Reclassification/transfer 3,783 471 61,311
At 31 December 2023 3,783 471 1,046,311
DEPRECIATION
At 1 April 2023 - - 129,642
Charge for period - - 14,802
At 31 December 2023 - - 144,444
NET BOOK VALUE
At 31 December 2023 3,783 471 901,867
At 31 March 2023 - - 855,358

Mafin Group Limited (Registered number: 09490046)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023

5. FIXED ASSET INVESTMENTS
Shares in Interest
group in joint
undertakings venture Totals
£    £    £   
COST
At 1 April 2023 101 - 101
Additions - 50 50
At 31 December 2023 101 50 151
NET BOOK VALUE
At 31 December 2023 101 50 151
At 31 March 2023 101 - 101

Plum Park Hotel Limited - 06546805
100% shareholding
40 Hillfield Road
London
United Kingdom
NW6 1PZ

Mafin Limited - 10382467
100% shareholding
40 Hillfield Road
London
United Kingdom
NW6 1PZ

Plum Park Manor Ltd - 15251525
50% shareholding
Coach House
Rugby
United Kingdom
CV23 0PJ

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 113 -
Amounts owed by associates 170,400 -
Other debtors 5,662 4,180
176,175 4,180

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Bank loans and overdrafts 3,000 3,000
Amounts owed to group undertakings - 244,431
Taxation and social security 1,189 3,146
Other creditors 508,301 2,072
512,490 252,649

Mafin Group Limited (Registered number: 09490046)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2023
£    £   
Bank loans 4,249 6,500
Other creditors - 37,402
4,249 43,902

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2023
£    £   
Within one year 23,000 17,250
Between one and five years 92,000 -
In more than five years 3,833 -
118,833 17,250

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023 432,355
Excess depreciation (10,449 )

At 31 December 2023 421,906

Fair value reserve is made up of accumulated un-crystallised gains in relation to fair value adjustments on the freehold property. These reserves are not distributable.