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REGISTERED NUMBER: 03037684 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Mill Reef Developments Limited

| Mill Reef Developments Limited (Registered number: 03037684) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Mill Reef Developments Limited |

Company Information

for the Year Ended 31 March 2025

| DIRECTOR: | Mr S Miller

| REGISTERED OFFICE: | 1st Floor

| 314 Regents Park Road

| Finchley

| London

| N3 2LT

| REGISTERED NUMBER: | 03037684 (England and Wales)

| ACCOUNTANTS: | Wolfson Associates Limited

| 1st Floor

| 314 Regents Park Road

| Finchley

| London

| N3 2LT

| Mill Reef Developments Limited (Registered number: 03037684) |

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 1,172 |  | 1,379 |  |

Investments | 5 | 801,540 |  | 811,178 |  |

Investment property | 6 | 240,000 |  | 240,000 |  |

1,042,712 |  | 1,052,557 |  |

CURRENT ASSETS

Debtors | 7 | 22,043 |  | 19,937 |  |

Cash at bank | 76,265 |  | 70,850 |  |

98,308 |  | 90,787 |  |

CREDITORS

Amounts falling due within one year | 8 | 603,436 |  | 618,623 |  |

NET CURRENT LIABILITIES | (505,128 | ) | (527,836 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 537,584 |  | 524,721 |  |

PROVISIONS FOR LIABILITIES | 87,428 |  | 88,312 |  |

NET ASSETS | 450,156 |  | 436,409 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 450,056 |  | 436,309 |  |

SHAREHOLDERS' FUNDS | 450,156 |  | 436,409 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

| Mill Reef Developments Limited (Registered number: 03037684) |

Balance Sheet - continued

31 March 2025

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 December 2025 and were signed by:

Mr S Miller - Director

| Mill Reef Developments Limited (Registered number: 03037684) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Mill Reef Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Turnover

| Turnover represents rents receivable and sale of properties.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Fixtures and fittings | - | 15% on reducing balance

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Freehold investment property

| Mill Reef Developments Limited (Registered number: 03037684) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Freehold 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 at the reporting date. The surplus or deficit on revaluation is recognized in the income statement.

3. | EMPLOYEES AND DIRECTORS

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

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| Short |  | and |

| leasehold |  | fittings |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024

| and 31 March 2025 | 3,375 |  | 11,949 |  | 15,324 |  |

| DEPRECIATION

| At 1 April 2024 | 3,375 |  | 10,570 |  | 13,945 |  |

| Charge for year | - |  | 207 |  | 207 |  |

| At 31 March 2025 | 3,375 |  | 10,777 |  | 14,152 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  | 1,172 |  | 1,172 |  |

| At 31 March 2024 | - |  | 1,379 |  | 1,379 |  |

5. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST OR VALUATION

| At 1 April 2024 | 811,178 |  |

| Additions | 154,846 |  |

| Disposals | (160,948 | ) |

| Revaluations | (3,536 | ) |

| At 31 March 2025 | 801,540 |  |

| NET BOOK VALUE

| At 31 March 2025 | 801,540 |  |

| At 31 March 2024 | 811,178 |  |

| Mill Reef Developments Limited (Registered number: 03037684) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | FIXED ASSET INVESTMENTS - continued

| Cost or valuation at 31 March 2025 is represented by:

| Other

| investments

£ |

| Valuation in 2024 | 51,439 |  |

| Valuation in 2025 | 90,166 |  |

| Cost | 659,935 |  |

801,540 |  |

| J M Finn Investments was valued on an open market basis on 31 March 2025 by J M Finn & Co. Ltd .

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2024

| and 31 March 2025 | 240,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | 240,000 |  |

| At 31 March 2024 | 240,000 |  |

| Fair value at 31 March 2025 is represented by:

£ |

| Valuation in 2004 | 57,840 |  |

| Valuation in 2016 | 110,000 |  |

| Valuation in 2018 | (20,000 | ) |

| Valuation in 2019 | 60,000 |  |

| Cost | 32,160 |  |

240,000 |  |

| If 6 Mowatt Close had not been revalued it would have been included at the following historical cost:

| 31.3.25 |  | 31.3.24

£ | £ |

| Cost | 32,160 |  | 32,160 |  |

| Freehold investment property was valued on an open market basis on 31 March 2025 by a director. .

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Other debtors | 22,043 |  | 19,937 |  |

| Mill Reef Developments Limited (Registered number: 03037684) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Taxation and social security | 2,583 |  | 1,225 |  |

| Other creditors | 600,853 |  | 617,398 |  |

603,436 |  | 618,623 |  |

9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| At 1 April 2024 the director's loan account had a credit balance of £616,677. During the year, the company repaid £16,544 back to the director. As a result, as at 31 March 2025, the company owed £600,133 to the director.

10. | ULTIMATE CONTROLLING PARTY

| The controlling party of the company is the director, S Miller, by virtue of his controlling interest in the issued share capital of the company.