Company No: 14906464 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.12.2024		31.12.2023
		£		£
Current assets
Stocks		16,477,215		0
Debtors	3	98,247		41
Cash at bank and in hand		1,078		0
		16,576,540		41
Creditors: amounts falling due within one year	4	( 18,798,367)		( 6,038)
Net current liabilities		(2,221,827)		(5,997)
Total assets less current liabilities		(2,221,827)		(5,997)
Net liabilities		( 2,221,827)		( 5,997)
Capital and reserves
Called-up share capital	5	1		1
Profit and loss account		( 2,221,828 )		( 5,998 )
Total shareholder's deficit		( 2,221,827)		( 5,997)

For the financial 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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Summix MQE Developments Limited (registered number: 14906464) were approved and authorised for issue by the Board of Directors on 30 September 2025. They were signed on its behalf by:

B McComb Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Summix MQE Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Fifth Floor, Berkeley Square House, Berkeley Square, London, W1J 6BY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The comparative period represents the first year of operations for the company, covering the period from 31 May 2023 to 31 December 2023.

Turnover

Turnover represents amounts receivable recognised by the company in respect of sale of property developments.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Other operating income

Other operating income relates to rental income which comprises monies received and receivable from the Company's property.

Stocks

Stock of properties are stated at lower of cost and estimated selling price less cost to complete and sell.

Cash and cash equivalents

Cash at bank in hand are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 cost 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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 cost, 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	Year ended 31.12.2024		Period from 31.05.2023 to 31.12.2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		3

3. Debtors

	31.12.2024		31.12.2023
	£		£
Other debtors	98,247		41

4. Creditors: amounts falling due within one year

	31.12.2024		31.12.2023
	£		£
Trade creditors	453,004		0
Amounts owed to Group undertakings	18,157,434		779
Amounts owed to connected companies	0		246
Amounts owed to related parties	52,893		0
Other creditors	135,036		5,013
	18,798,367		6,038

5. Called-up share capital

	31.12.2024		31.12.2023
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

6. Related Party transaction

The company has taken advantage of the exemptions available under FRS 102 not to disclose transactions with wholly owned group companies.