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REGISTERED NUMBER: 12145951 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

MANSION HOUSE GROUP MIDLANDS LIMITED

MANSION HOUSE GROUP MIDLANDS LIMITED (REGISTERED NUMBER: 12145951)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MANSION HOUSE GROUP MIDLANDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: R J E Peel





REGISTERED OFFICE: 8-10 Old Market Place
Altrincham
WA14 4DF





REGISTERED NUMBER: 12145951 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
3rd Floor
St George's House
56 Peter Street
Manchester
M2 3NQ

MANSION HOUSE GROUP MIDLANDS LIMITED (REGISTERED NUMBER: 12145951)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 4 7,962,677 7,714,867
Debtors 5 47,247 28,394
Cash at bank 3,367 17,045
8,013,291 7,760,306
CREDITORS
Amounts falling due within one year 6 24,647 22,741
NET CURRENT ASSETS 7,988,644 7,737,565
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,988,644

7,737,565

CREDITORS
Amounts falling due after more than one
year

7

8,003,174

7,749,033
NET LIABILITIES (14,530 ) (11,468 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (14,630 ) (11,568 )
(14,530 ) (11,468 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

MANSION HOUSE GROUP MIDLANDS LIMITED (REGISTERED NUMBER: 12145951)

BALANCE SHEET - continued
31 AUGUST 2024


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 15 May 2025 and were signed by:





R J E Peel - Director


MANSION HOUSE GROUP MIDLANDS LIMITED (REGISTERED NUMBER: 12145951)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Mansion House Group Midlands 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.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs, overheads and directly attributable borrowing costs that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


MANSION HOUSE GROUP MIDLANDS LIMITED (REGISTERED NUMBER: 12145951)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued
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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Going concern
The director, having considered the Company’s objectives and available resources, is satisfied that the Company has adequate resources to continue in operational existence for the foreseeable future based on the support from their lenders who have agreed to support the entity until the development is sold.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. STOCKS
2024 2023
£    £   
Work-in-progress 7,962,677 7,714,867

WIP includes capitalised finance costs of £1,950,856 (2023: £1,808,741).

MANSION HOUSE GROUP MIDLANDS LIMITED (REGISTERED NUMBER: 12145951)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 46,914 26,176
Other debtors 333 2,218
47,247 28,394

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 10,648 10,648
Trade creditors 12,634 10,728
Accruals and deferred income 1,365 1,365
24,647 22,741

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 8,003,174 7,749,033

Included within bank loans is an amount of £ 7,983,481 (2023: £7,728,253) secured by a legal charge
over the freehold property and a debenture over all the assets and undertaking of Mansion House Group Midlands Ltd.

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,648 10,648

Amounts falling due between one and two years:
Bank loans - 1-2 years 19,773 20,780

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,983,401 7,728,253

MANSION HOUSE GROUP MIDLANDS LIMITED (REGISTERED NUMBER: 12145951)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


9. RELATED PARTY DISCLOSURES

During the year the company was charged costs by Mansion House Project Management Limited, a company in which R J E Peel is a director and the sole shareholder of £10,872 (2023: £10,277). Mansion House Project Management Limited received funds of £47,470 (2023: £7,100) and made repayments to Mansion House Group Midlands Limited of £8,500 (2023: £8,025). At 31 August 2024 the balance owed from Mansion House Project Management Limited to Mansion House Group Midlands Limted was £46,914 (2023: £26,176).