REGISTERED NUMBER: 08259114 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MAYFIELD PROPERTY GROUP LIMITED

Page

Company Information

1

Report of the Director

2

Consolidated comprehensive income

3

Consolidated Statement of Financial Position

4

Company Statement of Financial Position

6

Notes to the Consolidated Financial Statements

8

DIRECTOR:

Mr J Mansour

REGISTERED OFFICE:

Mayfield House

177 Shaftesbury Avenue

London

WC2H 8JR

REGISTERED NUMBER:

08259114 (England and Wales)

ACCOUNTANTS:

David Simon Limited

Chartered Certified Accountants

5 Jardine House

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

The director presents his report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of property investment, management and development.

DIRECTOR

Mr J Mansour held office during the whole of the period from 1 January 2024 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr J Mansour - Director

27 December 2025

TURNOVER

1,312,422

1,417,369

Cost of sales

(221,200

)

2,786,342

GROSS PROFIT/(LOSS)

1,533,622

(1,368,973

)

Administrative expenses

479,169

(1,605,558

)

1,054,453

236,585

Other operating income

7,000

111,253

OPERATING PROFIT

4

1,061,453

347,838

Profit on sale of tangible fix ed assets

5

36,758

-

Profit on sale of investment

5

-

1,665,612

1,098,211

2,013,450

Amounts written off investments

-

1,479

1,098,211

2,011,971

Interest payable and similar expenses

924,563

1,199,767

PROFIT BEFORE TAXATION

173,648

812,204

Tax on profit

30,113

66,572

PROFIT FOR THE FINANCIAL YEAR

143,535

745,632

Profit attributable to:

Owners of the parent

143,535

745,632

FIXED ASSETS

Intangible assets

7

-

-

Tangible assets

8

1,034,676

1,039,242

Investments

9

Interest in associate

2

2

Other investments

219,391

232,941

Investment property

10

20,185,000

21,490,000

21,439,069

22,762,185

CURRENT ASSETS

Stocks

11

9,002,958

8,759,973

Debtors

12

201,552

76,117

Cash at bank and in hand

217,981

296,241

9,422,491

9,132,331

CREDITORS

Amounts falling due within one year

13

1,972,997

1,730,125

NET CURRENT ASSETS

7,449,494

7,402,206

TOTAL ASSETS LESS CURRENT LIABILITIES

28,888,563

30,164,391

CREDITORS

Amounts falling due after more than one year

14

(17,449,756

)

(18,896,938

)

PROVISIONS FOR LIABILITIES

(1,398,160

)

(1,368,047

)

NET ASSETS

10,040,647

9,899,406

CAPITAL AND RESERVES

Called up share capital

1,000,000

1,000,000

Non-distributable reserves

16

6,388,695

6,418,809

Retained earnings

2,651,952

2,480,597

SHAREHOLDERS' FUNDS

10,040,647

9,899,406

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

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

The financial statements were approved by the director and authorised for issue on 27 December 2025 and were signed by:

Mr J Mansour - Director

FIXED ASSETS

Intangible assets

7

-

-

Tangible assets

8

14,676

19,242

Investments

9

969,293

982,843

Investment property

10

-

-

983,969

1,002,085

CURRENT ASSETS

Stocks

11

1,934,466

1,409,360

Debtors

12

5,229,079

5,633,810

Cash at bank and in hand

205,004

276,114

7,368,549

7,319,284

CREDITORS

Amounts falling due within one year

13

1,518,286

1,287,603

NET CURRENT ASSETS

5,850,263

6,031,681

TOTAL ASSETS LESS CURRENT LIABILITIES

6,834,232

7,033,766

CREDITORS

Amounts falling due after more than one year

14

245,357

362,500

NET ASSETS

6,588,875

6,671,266

CAPITAL AND RESERVES

Called up share capital

1,000,000

1,000,000

Retained earnings

16

5,588,875

5,671,266

SHAREHOLDERS' FUNDS

6,588,875

6,671,266

Company's (loss)/profit for the financial year

(81,391

)

1,789,846

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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

The financial statements were approved by the director and authorised for issue on 27 December 2025 and were signed by:

Mr J Mansour - Director

1.	STATUTORY INFORMATION

Mayfield Property Group 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 General 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Land and buildings

-

not provided and Straight line over life of lease

Plant and machinery etc

-

25% on reducing balance, 25% on cost and 25% on cost

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

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.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated comprehensive income, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Furlough payments receivable

Furlough payments receivable are credited to profit and loss account on an accruals basis.

Investments

Investments held as fixed assets are stated at cost less provision for permanent diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 2 (2023 - 2 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Depreciation - owned assets

4,892

6,414

Patents and licences amortisation

-

1,704

Computer software amortisation

-

246

5.	EXCEPTIONAL ITEMS

2024

2023

£

£

Profit on sale of tangible fix ed assets

36,758

-

Profit on sale of investment

-

1,665,612

36,758

1,665,612

6.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

7.	INTANGIBLE FIXED ASSETS

Group

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

9,758

AMORTISATION

At 1 January 2024

and 31 December 2024

9,758

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

Company

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

9,758

AMORTISATION

At 1 January 2024

and 31 December 2024

9,758

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

8.	TANGIBLE FIXED ASSETS

Group

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

1,020,000

157,346

1,177,346

Additions

-

326

326

At 31 December 2024

1,020,000

157,672

1,177,672

DEPRECIATION

At 1 January 2024

-

138,104

138,104

Charge for year

-

4,892

4,892

At 31 December 2024

-

142,996

142,996

NET BOOK VALUE

At 31 December 2024

1,020,000

14,676

1,034,676

At 31 December 2023

1,020,000

19,242

1,039,242

Cost or valuation at 31 December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2024

1,020,000

157,672

1,177,672

Company

Plant and

machinery

etc

£

COST

At 1 January 2024

145,124

Additions

326

At 31 December 2024

145,450

DEPRECIATION

At 1 January 2024

125,882

Charge for year

4,892

At 31 December 2024

130,774

NET BOOK VALUE

At 31 December 2024

14,676

At 31 December 2023

19,242

9.	FIXED ASSET INVESTMENTS

Group

Shares in

Interest

group

in

Other

undertakings

associate

investments

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2024

18

2

232,923

232,943

Restructure

-

-

900

900

Disposals

-

-

(14,450

)

(14,450

)

At 31 December 2024

18

2

219,373

219,393

NET BOOK VALUE

At 31 December 2024

18

2

219,373

219,393

At 31 December 2023

18

2

232,923

232,943

Cost or valuation at 31 December 2024 is represented by:

Shares in

Interest

group

in

Other

undertakings

associate

investments

Totals

£

£

£

£

Valuation in 2024

18

2

219,373

219,393

Company

Shares in

Interest

group

in

Unlisted

undertakings

associate

investments

Totals

£

£

£

£

COST

At 1 January 2024

749,918

2

232,923

982,843

Restructure

-

-

900

900

Disposals

-

-

(14,450

)

(14,450

)

At 31 December 2024

749,918

2

219,373

969,293

NET BOOK VALUE

At 31 December 2024

749,918

2

219,373

969,293

At 31 December 2023

749,918

2

232,923

982,843

10.	INVESTMENT PROPERTY

Group

Total

£

FAIR VALUE

At 1 January 2024

21,490,000

Disposals

(1,305,000

)

At 31 December 2024

20,185,000

NET BOOK VALUE

At 31 December 2024

20,185,000

At 31 December 2023

21,490,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

20,185,000

11.

STOCKS

Group

Company

2024

2023

2024

2023

£

£

£

£

Stocks

9,002,958

8,759,973

1,934,466

1,409,360

12.

DEBTORS

Group

Company

2024

2023

2024

2023

£

£

£

£

Amounts falling due within one year:

Trade debtors

36,994

8,641

-

-

Other debtors

164,558

67,476

85,797

26,434

201,552

76,117

85,797

26,434

Amounts falling due after more than one year:

Amounts owed by group undertakings

-

-

5,143,282

5,607,376

Aggregate amounts

201,552

76,117

5,229,079

5,633,810

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2024

2023

2024

2023

£

£

£

£

Development loans

196,850

195,836

150,000

150,000

Trade creditors

371,306

239,831

329,591

228,077

Taxation and social security

221,586

57,964

76,758

57,964

Investment loans and other creditors

1,183,255

1,236,494

961,937

851,562

1,972,997

1,730,125

1,518,286

1,287,603

14.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group

Company

2024

2023

2024

2023

£

£

£

£

Development loans

14,063,109

13,679,180

245,357

362,500

Investment loans and other

creditors

3,386,647

5,217,758

-

-

17,449,756

18,896,938

245,357

362,500

Amounts falling due in more than five years:

Group

2024

2023

£

£

Repayable otherwise than by instalments

Development loans due more

than 5 years non-instalments

13,599,183

13,042,091

Other loans due more than 5

years by non-instalments

3,386,647

5,217,758

16,985,830

18,259,849

Repayable by instalments

Bank loans more 5 yr by instal

30,213

87,040

15.	SECURED DEBTS

The loans are secured by way of a charge over the group's assets and contains a covenant of equal coverage.

16.

RESERVES

Group

Non-distribu

reserves

£

At 1 January 2024

6,418,809

Transfer

(30,114

)

At 31 December 2024

6,388,695