Company No: 00762745 (England and Wales)

Contents

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

DIRECTORS	C W Langley (Appointed 01 July 2024)
	S A Langley
	W W Langley (Resigned 25 April 2024)
	M M Langley
	M C Teasdale

REGISTERED OFFICE	The Coach House Southwood Farm
	Buckhurst Road
	Westerham Hill
	Kent
	TN16 2HR
	United Kingdom

COMPANY NUMBER

00762745 (England and Wales)

ACCOUNTANT	S&W Partners (South East) Limited
	Brockbourne House
	77 Mount Ephraim
	Royal Tunbridge Wells
	TN4 8BS

	Note	31.03.25		31.03.24
		£		£
Fixed assets
Tangible assets	4	41,037		82,930
Investment property	5	5,310,000		12,185,000
		5,351,037		12,267,930
Current assets
Debtors	6	22,634		14,105
Cash at bank and in hand		104,244		70,584
		126,878		84,689
Creditors: amounts falling due within one year	7	( 545,948)		( 345,523)
Net current liabilities		(419,070)		(260,834)
Total assets less current liabilities		4,931,967		12,007,096
Creditors: amounts falling due after more than one year	8	0		( 25,937)
Provision for liabilities	9	( 168,740)		( 1,985,889)
Net assets		4,763,227		9,995,270
Capital and reserves
Called-up share capital	10	100		364
Undistributable reserve		1,077,786		7,085,675
Profit and loss account		3,685,341		2,909,231
Total shareholder's funds		4,763,227		9,995,270

For the financial 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.

Directors' responsibilities:

• The member has 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 Statement of Comprehensive Income has not been delivered.

The financial statements of Langley Property Co. (Mitcham) Limited (registered number: 00762745) were approved and authorised for issue by the Board of Directors on 29 December 2025. They were signed on its behalf by:

M M Langley 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

Langley Property Co. (Mitcham) Limited (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 The Coach House Southwood Farm, Buckhurst Road, Westerham Hill, Kent, TN16 2HR, 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 Langley Property Co. (Mitcham) Limited 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.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

Turnover comprises rent received for the period the property was let. Revenue is recognised on an accruals basis.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

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	5 years straight line
Vehicles	4 years straight line
Fixtures and fittings	4 years straight line

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 Statement of Comprehensive Income as described below.

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Comprehensive Income. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In determining the value of the properties held by the Company, the directors consider all relevant available information, including but not limited to relevant valuation indices for properties of a similar type in the locations in which the properties are held. The directors will use their judgements in selecting and applying the indices as well as their experience within the industry to determine a suitable valuation for the revaluation of the properties within the year.

3. Employees

	31.03.25		31.03.24
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		5

4. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2024	66,070		180,267		33,527		279,864
Additions	0		22,955		1,388		24,343
Disposals	( 17,822)		( 142,747)		0		( 160,569)
At 31 March 2025	48,248		60,475		34,915		143,638
Accumulated depreciation
At 01 April 2024	57,743		105,894		33,297		196,934
Charge for the financial year	0		17,480		254		17,734
Disposals	( 9,495)		( 102,572)		0		( 112,067)
At 31 March 2025	48,248		20,802		33,551		102,601
Net book value
At 31 March 2025	0		39,673		1,364		41,037
At 31 March 2024	8,327		74,373		230		82,930
Leased assets included above:
Net book value
At 31 March 2025	0		17,197		0		17,197
At 31 March 2024	0		0		0		0

5. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	12,185,000
Disposals	(6,875,000)
As at 31 March 2025	5,310,000

The 2025 valuations were made by the directors, on an open market value for existing use basis.

6. Debtors

	31.03.25		31.03.24
	£		£
Trade debtors	4,866		8,682
S455	1,138		1,138
Other debtors	16,630		4,285
	22,634		14,105

7. Creditors: amounts falling due within one year

	31.03.25		31.03.24
	£		£
Trade creditors	1,799		2,178
Accruals and deferred income	9,210		39,529
Taxation and social security	14,254		112,983
Obligations under finance leases and hire purchase contracts	0		7,359
Other creditors	520,685		183,474
	545,948		345,523

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

	31.03.25		31.03.24
	£		£
Obligations under finance leases and hire purchase contracts	0		25,937

Hire purchase liabilities are secured over the leased asset.

9. Deferred tax

	31.03.25		31.03.24
	£		£
At the beginning of financial year	( 1,985,889)		( 1,673,003)
Charged to the Profit and Loss Account	0		( 312,886)
Amounts written back	1,817,149		0
At the end of financial year	( 168,740)		( 1,985,889)

The deferred taxation balance is made up as follows:

	31.03.25		31.03.24
	£		£
Accelerated capital allowances	0		( 7,437)
Revaluation of investment property	( 168,740)		( 1,978,452)
	( 168,740)		( 1,985,889)

10. Called-up share capital

	31.03.25		31.03.24
	£		£
Allotted, called-up and fully-paid
23 Ordinary A shares of £ 1.00 each	23		23
43 Ordinary B shares of £ 1.00 each	43		43
21 Ordinary C shares of £ 1.00 each	21		21
6 Ordinary D shares of £ 1.00 each	6		6
2 Ordinary E shares of £ 1.00 each	2		2
4 Ordinary F shares of £ 1.00 each	4		4
1 Ordinary J share of £ 1.00	1		1
Nil Ordinary G shares (31.03.24: 69 shares of £ 1.00 each)	0		69
Nil Ordinary H shares (31.03.24: 132 shares of £ 1.00 each)	0		132
Nil Ordinary I shares (31.03.24: 63 shares of £ 1.00 each)	0		63
	100		364

11. Related party transactions

At the year end, £12,931 (2024: £3,500) was due from Southwood Farm, of which W. W. Langley is a partner. This amount is unsecured and interest free.

At the year end, £191,000 (2024: £nil) is payable to Langscope Limited. This amount is unsecured and interest free.

During the year, dividends in specie totalling £5,072,763 were paid to a previous shareholder of the Company, Langscope Limited, as part of the group demerger on 25 April 2024.

As part of this demerger, 52% of the investment properties were transferred to Langscope Limited.

During the year 100% of the shares of the Company were transferred to Langscope Limited, who subsequently transferred them to Mosach Property Limited.

12. Ultimate controlling party

Parent Company:

Mosach Property Company Limited

The Coach House Southwood Farm, Buckhurst Road, Westerham, England, TN16 2HR