The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MB Woolwich Phase 4 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

These financial statements have been prepared in accordance with section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company’s ultimate parent undertaking, Woolwich JV S.à r.l., included the company in its consolidated financial statements. The consolidated financial statements of Woolwich JV S.à r.l. are prepared in accordance with International Financial Reporting Standards as adopted by the EU and are available to the public and may be obtained upon request. In these financial statements, the company is considered to be a qualifying entity (for the purposes of this FRS) and has applied the exemptions available under FRS 102 in respect of the following:

• Reconciliation of the number of shares outstanding from the beginning to the end of the period; and

• Cash flow statement and related notes, and

• Key management personnel compensation; and

• Basic financial instruments.

These accounts are not prepared on a going concern basis due to the director's exit strategy. There is no change to the income statement or statement of financial position as a result of preparing the financial statements on a basis other than going concern. trueThe directors will continue to meet the liabilities of the company as they fall due.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell.

Cost includes land purchases and associated costs, materials, direct labour and any associated professional fees. Borrowing costs directly attributable to the acquisition or construction of inventory are not capitalised, instead such costs are recognised as an expense in the Income Statement.

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

Cash and cash equivalents comprise cash in hand and at bank, recognised initially at fair value then subsequently measured at amortised cost

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Income Statement.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The average monthly number of persons employed by the company during the year was: nil (2023: nil)

Included within due to fellow group undertakings are loan agreements with the parent company. These loans have fixed interest of 6.193% per annum and are repayable on demand. The loans will be repaid on realisation of the company's assets.

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so.

The deferred tax asset has been recognised on the gross tax losses of £20,591,295 (2023: £20,591,295) has been derecognised as it is not expected that there will be future taxable profits against which to utilise the losses.

Management fees relate to recharges from Meyer Homes Limited in relation to the management costs incurred by the entity. The fees for the period amounted to £121,652 (2023: £111,755) and an amount of £3,947 (2023: £106,125) was owed to Meyer Homes Limited at the year end.

The investment management fees are charged by MARK I Capital Management (Guernsey) Limited (formerly Meyer Bergman (Guernsey) Limited), an affiliated entity. The fees for the period amounted to £Nil (2023: £254,272) and £Nil (2023: £963,907) was owed to MARK I Capital Management (Guernsey) Limited (formerly Meyer Bergman (Guernsey) Limited) at the year end.

The immediate parent company and controlling entity is Woolwich JV S.à r.l., a company incorporated in the Grand Duchy of Luxembourg (registered office 12C, Impasse Drosbach, L-1882 Luxembourg, R.C.S Luxembourg, 198 558).  The ultimate undertaking and controlling party is Woolwich JV S.à r.l., and represents the only group of which this company is a member and for which consolidated financial statements are publicly available upon request.