REGISTERED NUMBER: OC422464 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2024 TO 31 MARCH 2025

FOR

MHG COMMERCIAL INVESTMENTS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mansion House Group Investments Ltd

R J E Peel

REGISTERED OFFICE:

8-10 Old Market Place

Altrincham

WA14 4DF

REGISTERED NUMBER:

OC422464 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

3rd Floor

St George's House

56 Peter Street

Manchester

M2 3NQ

FIXED ASSETS

Investment property

4

3,242,738

3,242,738

CURRENT ASSETS

Stocks

5,101,997

2,991,079

Debtors

5

91,687

653,166

Cash at bank

13,342

51,261

5,207,026

3,695,506

CREDITORS

Amounts falling due within one year

6

322,144

72,700

NET CURRENT ASSETS

4,884,882

3,622,806

TOTAL ASSETS LESS CURRENT LIABILITIES

8,127,620

6,865,544

CREDITORS

Amounts falling due after more than one year

7

7,359,982

5,688,983

NET ASSETS ATTRIBUTABLE TO MEMBERS

767,638

1,176,561

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

767,638

1,176,561

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

767,638

1,176,561

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 23 December 2025 and were signed by:

R J E Peel - Designated member

1.	STATUTORY INFORMATION

Mhg Commercial Investments LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time in relation to property leasing and recharged costs.

If, at the Balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the Balance sheet date are carried forward as work in progress.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs, overheads and directly attributable borrowing costs that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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

Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 any contract that evidences a residual interest in the assets of the limited liability partnership after deducting all of its liabilities.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

Going concern

The members have satisfied themselves that the entity can continue to operate as a going concern, on the basis that they will continue to support the company for the foreseeable future.

In their assessment of going concern the members observe that the LLP has net assets and will continue to operate with ongoing support from members.

Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

3.	EMPLOYEE INFORMATION

The average number of employees during the period was 1 (2024 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 June 2024

and 31 March 2025

3,242,738

Net book value

At 31 March 2025

3,242,738

At 31 May 2024

3,242,738

The investment property to which the revaluation adjustment relates was acquired during 2020 and is shown above at fair value. The directors consider that the fair value of the investment properties at 31 March 2025 in total is as stated above.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2024

3,242,738

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

4,982

6,034

Other debtors

86,705

647,132

91,687

653,166

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

13,094

13,853

Trade creditors

140,493

45,547

Other creditors

168,557

13,300

322,144

72,700

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

7,359,982

5,688,983

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the above amounts will rank equally with unsecured creditors.

9.	RELATED PARTY TRANSACTIONS

During the year the company made loan advances of £nil and received repayments of £72,500 (2024: made loan advances of £800 and received repayments of £513). At the year end, the balance owed by Mansion House Group Limited was £63,820 (2024: £136,320). This balance is included within 'other debtors'.

During the year the company made loan advances of £nil and received repayments of £nil from MHG Investments LLP (2024: made loan advances of £36,499 and received repayments of £20,232). At the year end, the balance owed from MHG Investments LLP was £nil (2024: £nil).

During the year the company made loan advances of £1,632,016 and received loan repayments of £2,021,563 from Mansion House Project Management Ltd (MHPM Ltd) (2024: made loan advances of £1,394,198 and received repayments of £1,473,117). At the year end the balance owed to MHPM Ltd was £136,707 (2024: owed from MHPM Ltd was £252,840). This balance is included within 'other creditors'.

These entities are all related by virtue of their relationship to R J Peel, a member of this LLP, who is also a member or a shareholder of the above entities.