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REGISTERED NUMBER: 04207917 (England and Wales)

| Michael D Graham Ltd |

| Financial Statements |

| for the Year Ended 30 April 2025 |

| Michael D Graham Ltd (Registered number: 04207917) |

Contents of the Financial Statements

for the year ended 30 April 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Michael D Graham Ltd |

Company Information

for the year ended 30 April 2025

| DIRECTOR: | M Graham

| SECRETARY: | Mrs V Graham

| REGISTERED OFFICE: | Stinsford Hill House

| Stinsford

| Dorchester

| Dorset

| DT2 8PS

| REGISTERED NUMBER: | 04207917 (England and Wales)

| ACCOUNTANTS: | Read Woodruff

| Chartered Accountants

| 24 Cornwall Road

| Dorchester

| Dorset

| DT1 1RX

| Michael D Graham Ltd (Registered number: 04207917) |

Balance Sheet

30 April 2025

| 2025 | 2024 |

| as restated |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 3,913 |  | 1,943 |  |

Investment property | 6 | 2,355,000 |  | 2,130,000 |  |

2,358,913 |  | 2,131,943 |  |

CURRENT ASSETS

Investments | 7 | 1,120,483 |  | 825,668 |  |

Cash at bank | 47,681 |  | 71,611 |  |

1,168,164 |  | 897,279 |  |

CREDITORS

Amounts falling due within one year | 8 | 50,302 |  | 58,708 |  |

NET CURRENT ASSETS | 1,117,862 |  | 838,571 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,476,775 |  | 2,970,514 |  |

PROVISIONS FOR LIABILITIES | 9 | 115,995 |  | 110,321 |  |

NET ASSETS | 3,360,780 |  | 2,860,193 |  |

CAPITAL AND RESERVES

Called up share capital | 1,200 |  | 1,200 |  |

Fair value reserve | 10 | 920,799 |  | 383,036 |  |

Retained earnings | 2,438,781 |  | 2,475,957 |  |

3,360,780 |  | 2,860,193 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 31 December 2025 and were signed by:

M Graham - Director

| Michael D Graham Ltd (Registered number: 04207917) |

Notes to the Financial Statements

for the year ended 30 April 2025

1. | STATUTORY INFORMATION

| Michael D Graham Ltd 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.

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.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

| 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.

| Tangible fixed assets

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

| Office equipment | - | 33% 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.

| Fair value reserve

| Whilst fair value gains on investment property are taken to the profit and loss account, they are not distributable as dividend to shareholders because the gain is unrealised. The company therefore adopts the policy of transferring the fair value adjustment net/inclusive of the deferred tax charge/credit to a separate account,'fair value reserve'.

| Unrealised gains on listed investments are similarly transferred to the fair value reserve.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2024 - 4 ) .

| Michael D Graham Ltd (Registered number: 04207917) |

Notes to the Financial Statements - continued

for the year ended 30 April 2025

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 May 2024

| and 30 April 2025 | 315,000 |  |

| AMORTISATION

| At 1 May 2024

| and 30 April 2025 | 315,000 |  |

| NET BOOK VALUE

| At 30 April 2025 | - |  |

| At 30 April 2024 | - |  |

5. | TANGIBLE FIXED ASSETS

| Office

| equipment

£ |

| COST

| At 1 May 2024 | 9,471 |  |

| Additions | 3,898 |  |

| At 30 April 2025 | 13,369 |  |

| DEPRECIATION

| At 1 May 2024 | 7,528 |  |

| Charge for year | 1,928 |  |

| At 30 April 2025 | 9,456 |  |

| NET BOOK VALUE

| At 30 April 2025 | 3,913 |  |

| At 30 April 2024 | 1,943 |  |

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 May 2024 | 2,130,000 |  |

| Revaluations | 225,000 |  |

| At 30 April 2025 | 2,355,000 |  |

| NET BOOK VALUE

| At 30 April 2025 | 2,355,000 |  |

| At 30 April 2024 | 2,130,000 |  |

| Fair value at 30 April 2025 is represented by:

£ |

| Valuation in 2023 | 492,871 |  |

| Valuation in 2025 | 225,000 |  |

| Cost | 1,637,129 |  |

2,355,000 |  |

| Michael D Graham Ltd (Registered number: 04207917) |

Notes to the Financial Statements - continued

for the year ended 30 April 2025

6. | INVESTMENT PROPERTY - continued

| If investment property had not been revalued it would have been included at the following historical cost:

2025 | 2024 |

| as restated |

£ | £ |

| Cost | 1,637,129 |  | 1,637,129 |  |

| Investment property was valued on a fair value basis on 30 April 2025 by the director .

7. | CURRENT ASSET INVESTMENTS

2025 | 2024 |

| as restated |

£ | £ |

| Listed investments | 1,120,483 |  | 825,668 |  |

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

2025 | 2024 |

| as restated |

£ | £ |

| Trade creditors | - |  | 51 |  |

| UK corporation tax | 4,110 |  | 9,351 |  |

| Tax and social security costs | 383 |  | - |  |

| Other creditors | 9,525 |  | 9,330 |  |

| Directors' current accounts | 34,250 |  | 38,295 |  |

| Accruals and deferred income | 2,034 |  | 1,681 |  |

50,302 |  | 58,708 |  |

9. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

| as restated |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 978 |  | 486 |  |

| Capital gains on investment property | 115,017 |  | 109,835 |  |

115,995 |  | 110,321 |  |

| Deferred |

| tax |

£ |

| Balance at 1 May 2024 | 110,321 |  |

| Charge to Income Statement during year | 5,674 |  |

| Balance at 30 April 2025 | 115,995 |  |

| Michael D Graham Ltd (Registered number: 04207917) |

Notes to the Financial Statements - continued

for the year ended 30 April 2025

10. | RESERVES

| Fair

| value

| reserve

£ |

| At 1 May 2024 | 383,036 |  |

| Transfer unrealised gain/loss on investments and property to fair value reserve | 537,763 |  |

| At 30 April 2025 | 920,799 |  |

| The fair value reserve represents the unrealised gains on carrying investment property at fair value less the deferred tax provision thereon; being unrealised, such amounts are not available to be distributed as dividend to shareholders.

| It also includes unrealised gains on listed investment portfolios.