Mayfair Group Investment Limited 31/12/2024 iXBRL

Deferred tax (note 9)

At 1 January 2024 and 31 December 2024

Company registration number: 05500972

Mayfair Group Investment Limited

Unaudited filleted abridged financial statements

31 December 2024

Mayfair Group Investment Limited

Contents

Directors and other information

Abridged statement of financial position

Notes to the financial statements

Mayfair Group Investment Limited

Directors and other information


	Directors	R Dhand
		R Dhand
		M K Dhand


	Secretary	R Dhand


	Company number	05500972


	Registered office	Office 3
		9 East Parade
		Leeds
		LS1 2AJ


	Accountant	A Dawson
		Accountants Advice Limited
		29 Temple Lane
		Copmanthorpe
		YO23 3TB

Mayfair Group Investment Limited

Abridged statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	3,033,235		2,568,815
Investments	6	300		300
		_______		_______
			3,033,535		2,569,115

Current assets
Debtors		2,860,858		1,277,526
Cash at bank and in hand		32,256		207,384
		_______		_______
		2,893,114		1,484,910
Creditors: amounts falling due
within one year		( 540,683)		( 300,431)
		_______		_______
Net current assets			2,352,431		1,184,479
			_______		_______
Total assets less current liabilities			5,385,966		3,753,594

Creditors: amounts falling due
after more than one year	7		( 2,725,174)		( 1,545,163)

Provisions for liabilities	8		( 124,693)		( 50,412)

			_______		_______
Net assets			2,536,099		2,158,019
			_______		_______

Capital and reserves
Called up share capital			90		90
Profit and loss account	10		2,536,009		2,157,929
			_______		_______
Shareholders funds			2,536,099		2,158,019
			_______		_______

For the year ending 31 December 2024 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 year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

R Dhand

Director

Company registration number: 05500972

Mayfair Group Investment Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Office 3, 9 East Parade, Leeds, LS1 2AJ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	33.33 %	straight line
Fittings fixtures and equipment	-	20% and 25% straight line
Motor vehicles	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2023: Nil).

5. Tangible assets


		£
	Cost or valuation
	At 1 January 2024	2,729,802
	Additions	32,749
	Revaluation	448,457
		_______
	At 31 December 2024	3,211,008
		_______
	Depreciation
	At 1 January 2024	160,987
	Charge for the year	16,786
		_______
	At 31 December 2024	177,773
		_______
	Carrying amount
	At 31 December 2024	3,033,235
		_______
	At 31 December 2023	2,568,815
		_______

Investment property

Included within the above is investment property measured at fair value as follows:

		£
	At 1 January 2024	2,545,036
	Additions	20,752
	Fair value adjustments	448,457
		_______
	At 31 December 2024	3,014,245
		_______

The investment property fair value brought forward included £150,182 of property revaluation. On 21st June 2024 the properties were professionally revalued by Eddisons Chartered Surveyors.

6. Investments


		£
	Cost
	At 1 January 2024 and 31 December 2024	300
		_______
	Impairment
	At 1 January 2024 and 31 December 2024	-
		_______
	Carrying amount
	At 31 December 2024	300
		_______
	At 31 December 2023	300
		_______

Investments in group undertakings
	Registered office	Class of share	Percentage of shares held
Subsidiary undertakings
Greenhithe Healthcare Developments Ltd	49a St pauls Street, Leeds	Ordinary	100

LS9 Healthcare Developments Ltd	49a St pauls Street, Leeds	Ordinary	100

MGI Old Vinyl Factory Healthcare Ltd	49a St pauls Street, Leeds	Ordinary	100

The results and capital and reserves for the period of the trading companies are as follows:


		Capital and		Profit/(loss)
		reserves		for the
				period
	2024	2023	2024	2023
	£	£	£	£
Subsidiary undertakings
Greenhithe Healthcare Developments Ltd	100	100	-	-
LS9 Healthcare Developments Ltd	(22,188)	(15,540)	( 6,548)	( 9,101)
MGI Old Vinyl Factory Healthcare Ltd	100	100	-	-

7. Creditors: amounts falling due after more than one year

Included in the above long term loans are bank loans of £2,725,171 (2023:£1,545,163) that are secured by fixed and floating charges over the company's investment properties and are repayable within 5 years.

8. Provisions

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in debtors (note )	124,693	50,412
Included in provisions (note 8)	( 124,693)	( 50,412)
	_______	_______
	-	-
The deferred tax account consists of the tax effect of timing differences in respect of:
	2024	2023
	£	£
Accelerated capital allowances	84,804	91,291
Fair value adjustment of investment property	( 204,310)	( 141,703)
Unused tax losses	119,506	50,412
	_______	_______
	-	-

10. Reserves

Included within retained earnings are unrealised profits of £598,639 (2023:£150,182) which relate to cumulative fair value gains made on investment properties. As these gains are unrealised they are not permitted to be distributed to shareholders.