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REGISTERED NUMBER: 09490046 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Mafin Group Limited

Mafin Group Limited (Registered number: 09490046)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mafin Group Limited

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr J E B Fish
Mrs M A 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
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

Mafin Group Limited (Registered number: 09490046)

Balance Sheet
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 881,429 901,867
Investments 5 151 151
881,580 902,018

CURRENT ASSETS
Debtors 6 33,941 176,175
Cash at bank 6,182 13,805
40,123 189,980
CREDITORS
Amounts falling due within one year 7 286,383 512,490
NET CURRENT LIABILITIES (246,260 ) (322,510 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

635,320

579,508

CREDITORS
Amounts falling due after more than one
year

8

(325,000

)

(4,249

)

PROVISIONS FOR LIABILITIES (161,326 ) (171,436 )
NET ASSETS 148,994 403,823

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 380,802 421,906
Retained earnings (231,908 ) (18,183 )
SHAREHOLDERS' FUNDS 148,994 403,823

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 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 Board of Directors and authorised for issue on 24 June 2025 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 YEAR ENDED 31 DECEMBER 2024

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 YEAR ENDED 31 DECEMBER 2024

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 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.

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 YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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 year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant & and
property machinery fittings
£    £    £   
COST
At 1 January 2024 985,000 12,968 44,089
Additions - 70,000 -
Disposals (50,000 ) - -
At 31 December 2024 935,000 82,968 44,089
DEPRECIATION
At 1 January 2024 144,444 - -
Charge for year 19,700 10,818 8,818
At 31 December 2024 164,144 10,818 8,818
NET BOOK VALUE
At 31 December 2024 770,856 72,150 35,271
At 31 December 2023 840,556 12,968 44,089

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 3,783 471 1,046,311
Additions - - 70,000
Disposals - - (50,000 )
At 31 December 2024 3,783 471 1,066,311
DEPRECIATION
At 1 January 2024 - - 144,444
Charge for year 946 156 40,438
At 31 December 2024 946 156 184,882
NET BOOK VALUE
At 31 December 2024 2,837 315 881,429
At 31 December 2023 3,783 471 901,867

Mafin Group Limited (Registered number: 09490046)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. FIXED ASSET INVESTMENTS
Shares in Interest
group in joint
undertakings venture Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 101 50 151
NET BOOK VALUE
At 31 December 2024 101 50 151
At 31 December 2023 101 50 151

PPM (RHI) Limited - 06546805
(Formerly Plum Park Hotel Limited)
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
2024 2023
£    £   
Trade debtors 46 113
Amounts owed by group undertakings 29,996 -
Amounts owed by associates - 170,400
Other debtors 3,899 5,662
33,941 176,175

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 67,885 3,000
Trade creditors 39 -
Taxation and social security 5,666 1,189
Other creditors 212,793 508,301
286,383 512,490

Mafin Group Limited (Registered number: 09490046)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 4,249
Other creditors 325,000 -
325,000 4,249

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 23,000 23,000
Between one and five years 72,833 92,000
In more than five years - 3,833
95,833 118,833

10. RESERVES
Fair
value
reserve
£   
At 1 January 2024 421,906
Property revaluation (39,890 )
Deferred tax provision 10,110
Excess depreciation (11,324 )

At 31 December 2024 380,802

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.