Company No: 13082060 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Paul David Crabb
	Michaela Jean Patricia Sayles

REGISTERED OFFICE	107 Darlington Lane
	Stockton-On-Tees
	TS20 1BW
	United Kingdom

COMPANY NUMBER

13082060 (England and Wales)

ACCOUNTANT	S&W Partners Newcastle Limited
	17 Queens Lane
	Newcastle
	NE1 1RN

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	17,763		23,684
Investment property	4	1,336,970		881,037
		1,354,733		904,721
Current assets
Debtors	5	28,017		12,867
Cash at bank and in hand		56,286		60,431
		84,303		73,298
Creditors: amounts falling due within one year	6	( 1,610,604)		( 1,019,568)
Net current liabilities		(1,526,301)		(946,270)
Total assets less current liabilities		(171,568)		(41,549)
Creditors: amounts falling due after more than one year	7	( 97,500)		( 97,500)
Net liabilities		( 269,068)		( 139,049)
Capital and reserves
Called-up share capital		100		100
Fair value reserve		57,536		57,536
Profit and loss account		( 326,704 )		( 196,685 )
Total shareholders' deficit		( 269,068)		( 139,049)

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 members have 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 Profit and Loss Account has not been delivered.

The financial statements of Mandeville Properties Ltd (registered number: 13082060) were approved and authorised for issue by the Board of Directors on 15 December 2025. They were signed on its behalf by:

Michaela Jean Patricia Sayles 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 year, unless otherwise stated.

General information and basis of accounting

Mandeville Properties Ltd (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 107 Darlington Lane, Stockton-On-Tees, TS20 1BW, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Mandeville Properties Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for property rentals, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company and when specific criteria have been met for each of the company's activities described below.

Property rentals :
Turnover from property rentals are recognised in the profit and loss account on a receivable basis.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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 Balance Sheet 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 enacted or substantively enacted 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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	43,000		43,000
At 31 December 2024	43,000		43,000
Accumulated depreciation
At 01 January 2024	19,316		19,316
Charge for the financial year	5,921		5,921
At 31 December 2024	25,237		25,237
Net book value
At 31 December 2024	17,763		17,763
At 31 December 2023	23,684		23,684

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	881,037
Additions	455,933
As at 31 December 2024	1,336,970

Valuation

The fair value of the Company’s investment property has been arrived at on the basis of valuations carried out on that date by the directors of the business. In carrying out their review, the directors have made assumptions in relation to rental yields and estimated future achievable rents.

5. Debtors

	2024		2023
	£		£
Other debtors	28,017		12,867

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Other taxation and social security	2,084		17,944
Other creditors	1,608,520		1,001,624
	1,610,604		1,019,568

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

	2024		2023
	£		£
Other creditors	97,500		97,500

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2024		2023
	£		£
Other creditors (secured)	97,500		97,500

The other loan is secured against the property at 120 Grindon Lane, Sunderland, SR3 4EL