Mainsforth Estates Limited

	Page
Balance Sheet	1—2
Statement of Changes in Equity	3
Notes to the Financial Statements	4—6

Registered number: 4425281

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		6,476,299		6,750,746

			6,476,299		6,750,746
CURRENT ASSETS
Debtors	5	817,391		997,466
Cash at bank and in hand		89,606		94,389

		906,997		1,091,855
Creditors: Amounts Falling Due Within One Year	6	(689,577 )		(978,263 )

NET CURRENT ASSETS (LIABILITIES)			217,420		113,592

TOTAL ASSETS LESS CURRENT LIABILITIES			6,693,719		6,864,338

PROVISIONS FOR LIABILITIES
Deferred Taxation			(106,500 )		(16,500 )

NET ASSETS			6,587,219		6,847,838

CAPITAL AND RESERVES
Called up share capital	7		2		2
Profit and Loss Account			6,587,217		6,847,836

SHAREHOLDERS' FUNDS			6,587,219		6,847,838

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Mainsforth Estates Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Peter Baker

Director

22/12/2025

The notes on pages 4 to 6 form part of these financial statements.

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 April 2023	2	7,526,273	7,526,275
Profit for the year and total comprehensive income	-	159,563	159,563

Dividends paid	-	(388,000)	(388,000)
Transfer to/from Fair value reserve	-	(450,000)	(450,000)

As at 31 March 2024 and 1 April 2024	2	6,847,836	6,847,838


Loss for the year and total comprehensive income	-	(360,558 )	(360,558)

Dividends paid	-	(260,060)	(260,060)
Transfer to/from Fair value reserve	-	359,999	359,999

As at 31 March 2025	2	6,587,217	6,587,219

1. General Information

Mainsforth Estates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 4425281 . The registered office is 17 , Wood Street, St.Annes-on-Sea, FY8 1QR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable from rental income.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	0%
Plant & Machinery	20% reducing balance

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit and loss.

2.4. Taxation

Corporation tax represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

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Mainsforth Estates Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Total
	£	£	£
Cost or Valuation
As at 1 April 2024	6,742,898	158,355	6,901,253
Additions	1,300	-	1,300
Disposals	(634,177 )	-	(634,177 )
Revaluation	360,000	-	360,000

As at 31 March 2025	6,470,021	158,355	6,628,376

Depreciation
As at 1 April 2024	-	150,507	150,507
Provided during the period	-	1,570	1,570

As at 31 March 2025	-	152,077	152,077

Net Book Value
As at 31 March 2025	6,470,021	6,278	6,476,299

As at 1 April 2024	6,742,898	7,848	6,750,746

The original cost of freehold property was £6,060,737 (2024: £6,693,614)

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	13,442	78,649
Other debtors	9,768	31,715
Directors' loan accounts	-	67,579

	23,210	177,943
Due after more than one year
Other debtors	794,181	819,523

	817,391	997,466

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Mainsforth Estates Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	261	-
Corporation tax	196,235	198,110
Other creditors	486,674	779,186
Accruals and deferred income	976	967
Directors' loan accounts	5,431	-

	689,577	978,263

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

8. Directors Advances, Credits and Guarantees

Included within debtors are the following loans to directors:

Estate of P.G. Watson : nil (2024 : £67,579). Interest is charged at 2.25 % p.a.

9. Related Party Transactions

The company was controlled by P.G.Watson's estate, subsequently his wlll trust, throughout the current and preceding periods. Mr.Watson died in December 2021

Other creditors includes the following:

Bickford Land & Property Limited £91,068 (2024 : £361,798)

Wentworth Mann Limited £367,191 (2024 :£365,928)

Fir Tree Estates Limited £27,754 (2024 : £51,425)

Interest is charged at 5% on the above loans. The above companies are controlled by the estate/will trust of P.G.Watson apart from Bickford Land & Property which is controlled by his son.

Other debtors due after more than one year includes Fishburn Property Limited £794,181 (2024 :£819,523), a company controlled by the estate/trust of P.G.Watson. This was after provisions charged to the profit and loss account of £800,000 (2024 : £546,642).

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