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REGISTERED NUMBER: 10176790 (England and Wales)

Strategic Report, Director's Report and

Financial Statements for the Year Ended 31 March 2024

for

Mayfield Properties Limited

| Mayfield Properties Limited (Registered number: 10176790) |

Contents of the Financial Statements

for the Year Ended 31 March 2024

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Director's Report | 3 |

| Report of the Independent Auditors | 6 |

| Income Statement | 9 |

| Other Comprehensive Income | 10 |

| Balance Sheet | 11 |

| Statement of Changes in Equity | 12 |

| Notes to the Financial Statements | 13 |

| Mayfield Properties Limited |

Company Information

for the Year Ended 31 March 2024

| DIRECTOR: | Mr Anthony William Hinchliffe

| REGISTERED OFFICE: | The Chambers

| 14 Church Street

| Sheffield

| South Yorkshire

| S1 2GN

| REGISTERED NUMBER: | 10176790 (England and Wales)

| INDEPENDENT AUDITORS: | Landin Wilcock & Co

| Statutory Auditor

| 68 Queen Street

| Sheffield

| South Yorkshire

| S1 1WR

| BANKERS: | HSBC

| Unit 3 Carmel House

| 49-63 Fargate

| Sheffield

| South Yorkshire

| S1 2HD

| Mayfield Properties Limited (Registered number: 10176790) |

Strategic Report

for the Year Ended 31 March 2024

The director presents his strategic report for the year ended 31 March 2024.

REVIEW OF BUSINESS

The following key financial performance indicators provide information to assess how the group is performing:

| 2024 |  | 2023 |

£ |  | £ |  |

Turnover |  | 604,525 |  | 564,098 |

Profit before tax |  | 78,464 |  | 587,408 |

Net assets |  | 6,440,682 |  | 6,383,067 |

The company, together with its investment subsidiaries, continues to focus on residential and student property in Sheffield. The city remains supported by strong rental demand, underpinned by its universities and a large student and graduate population. The portfolio remained unchanged during the year, with no property acquisitions or disposals, and occupancy levels across the estate remained robust.

Turnover increased to £604,525 (2023: £564,098), reflecting further growth in rental income through a combination of rent increases and sustained occupancy. A fair value gain was recognised on the investment properties, indicating a modest uplift in the valuation of the portfolio despite ongoing wider market uncertainty.

Profit before tax decreased to £78,464 (2023: £587,408). This reduction is primarily due to the non-recurrence of a significant dividend from group undertakings that was recognised in the prior year and an increase in finance costs in a higher interest rate environment. Expenditure on repairs, renewals and legal matters was also higher in the year as the company invested in maintaining and protecting the portfolio. Notwithstanding these factors, the company reported a profit after tax and net assets continued to increase, reflecting the ongoing strength of the balance sheet.

The director remains mindful of the risks associated with interest rate movements, refinancing and property valuations. These are monitored closely alongside rental demand and occupancy levels to ensure that the company can meet its obligations and continue to operate on a sustainable basis.

ON BEHALF OF THE BOARD:

Mr Anthony William Hinchliffe - Director

20 January 2026

| Mayfield Properties Limited (Registered number: 10176790) |

Director's Report

for the Year Ended 31 March 2024

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of property rental and parent company for a trading subsidiary.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2024.

FUTURE DEVELOPMENTS

There were no significant post balance sheet events requiring disclosure. The board expects the Sheffield residential and student rental markets to remain supportive, with good levels of occupancy and scope for further rental optimisation, subject to tenant affordability and wider economic conditions.

The group's previous deleveraging strategy envisaged the sale of several properties; no such disposals were completed in the year as commercially acceptable offers were not achieved. The board's revised plan is to progress the sale of one property, following that disposal, to refinance the remaining portfolio with a view to simplifying funding arrangements and reducing overall finance costs.

DIRECTOR

Mr Anthony William Hinchliffe held office during the whole of the period from 1 April 2023 to the date of this report.

| Mayfield Properties Limited (Registered number: 10176790) |

Director's Report

for the Year Ended 31 March 2024

GOING CONCERN

Mayfield Properties Limited continues to operate as a stable and resilient business with a clear strategic focus on maintaining its long-term sustainability. The company remains committed to prudent financial management and careful stewardship of its property portfolio, which continues to perform well in the Sheffield rental market. Management actively monitors market conditions, regulatory changes and financing costs, ensuring the business can navigate external challenges while positioning itself to benefit from opportunities that may arise.

The company's rental portfolio remains well occupied, and demand for residential and student rental accommodation in Sheffield continues to be strong. Rental income has increased during the year, supported by upward revisions to tenancy agreements and natural market growth. This improvement is expected to continue into FY25 and beyond, contributing positively to operating cash flow and overall business stability.

During the period, the company did not undertake any material capital expenditure or property acquisitions, and no such expenditure has occurred in FY25 or is planned for FY26. This has allowed the company to avoid further leveraging its balance sheet while continuing to maintain and manage the property assets already owned. Finance costs have increased, reflecting the higher interest rate environment; however, management has taken, and continues to take, measures to mitigate this, including reviewing refinancing options and adjusting rental levels where appropriate.

Management is currently in an advanced phase of refinancing that will realise significant amounts of capital and lower ongoing finance costs. Management intends to restructure existing debt through this process but also maintain sufficient liquid funds to meet any short term cashflow needs.

The company retains a strong asset base comprised of well-positioned investment properties, and the directors perceive no material risk to property valuations. The balance sheet continues to reflect significant equity in the portfolio, providing resilience and strategic optionality should liquidity be required.

The company had previously anticipated the sale of a small number of properties as part of its deleveraging strategy. No such disposals were completed in the year ended 31 March 2024, as commercially acceptable offers were not received. Notwithstanding this, the company has continued to meet its obligations from ongoing rental income and existing facilities. The Board's revised strategy is to progress the sale of one property alongside a refinancing of the remaining portfolio in as noted above.

The director's current account position has been reviewed, and steps have been taken to materially reduce the balance during the year. Intercompany balances continue to be actively managed as part of the wider group cash and funding strategy, ensuring that resources are allocated efficiently across the group.

In forming their view on going concern, the directors have prepared forecasts and considered the projected performance and cash flows of the company, including reasonable downside sensitivities, for a period of at least twelve months from the date of approval of these financial statements. Based on current and forecast rental income, planned property disposal proceeds, anticipated refinancing, and the strength of the company's asset position, the directors are satisfied that Mayfield Properties Limited has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

| Mayfield Properties Limited (Registered number: 10176790) |

Director's Report

for the Year Ended 31 March 2024

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Landin Wilcock & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr Anthony William Hinchliffe - Director

20 January 2026

Report of the Independent Auditors to the Members of

Mayfield Properties Limited

Opinion

We have audited the financial statements of Mayfield Properties Limited (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Director's Report, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Mayfield Properties Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of director's remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page five, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- minimal reliance was placed upon the operating effectiveness of internal controls in the design and performance of our substantive procedures;

- discussions were held with management considering known or suspected non-compliance with laws, regulations and fraud;

- journal entries were reviewed for any entries made outside the ordinary reporting processes with particular emphasis on those with unusual account combinations, entries crediting revenue and those without specific descriptions;

- management assumptions in their significant accounting estimates were challenged and scrutinised.

There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of

Mayfield Properties Limited

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Hampstead (Senior Statutory Auditor)

for and on behalf of Landin Wilcock & Co

Statutory Auditor

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

20 January 2026

| Mayfield Properties Limited (Registered number: 10176790) |

Income Statement

for the Year Ended 31 March 2024

| 2024 |  | 2023

| Notes | £ | £ |

TURNOVER | 604,525 |  | 564,098 |  |

Administrative expenses | (292,464 | ) | (198,868 | ) |

312,061 |  | 365,230 |  |

Other operating income | 7,924 |  | - |  |

Gain/loss on revaluation of investment property | 122,042 |  | 97,380 |  |

OPERATING PROFIT | 4 | 442,027 |  | 462,610 |  |

Income from shares in group undertakings | - |  | 431,279 |  |

Interest receivable and similar income | 14,776 |  | 20,079 |  |

456,803 |  | 913,968 |  |

Interest payable and similar expenses | 5 | (378,339 | ) | (326,560 | ) |

PROFIT BEFORE TAXATION | 78,464 |  | 587,408 |  |

Tax on profit | 6 | (20,849 | ) | (40,831 | ) |

PROFIT FOR THE FINANCIAL YEAR | 57,615 |  | 546,577 |  |

| Mayfield Properties Limited (Registered number: 10176790) |

Other Comprehensive Income

for the Year Ended 31 March 2024

| 2024 |  | 2023

| Notes | £ | £ |

PROFIT FOR THE YEAR | 57,615 |  | 546,577 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 57,615 |  | 546,577 |  |

| Mayfield Properties Limited (Registered number: 10176790) |

Balance Sheet

31 March 2024

| 2024 |  | 2023

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 7 | 45,640 |  | 65,051 |  |

Investments | 8 | 3,339,295 |  | 2,100,003 |  |

Investment property | 9 | 11,720,077 |  | 11,598,035 |  |

15,105,012 |  | 13,763,089 |  |

CURRENT ASSETS

Debtors | 10 | 1,748,914 |  | 2,827,153 |  |

Cash at bank and in hand | 36,384 |  | 33,653 |  |

1,785,298 |  | 2,860,806 |  |

CREDITORS

Amounts falling due within one year | 11 | (2,543,093 | ) | (2,339,583 | ) |

NET CURRENT (LIABILITIES)/ASSETS | (757,795 | ) | 521,223 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 14,347,217 |  | 14,284,312 |  |

CREDITORS

Amounts falling due after more than one year | 12 | (7,392,540 | ) | (7,408,098 | ) |

PROVISIONS FOR LIABILITIES | 16 | (513,995 | ) | (493,147 | ) |

NET ASSETS | 6,440,682 |  | 6,383,067 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 4,378,705 |  | 4,378,705 |  |

Retained earnings | 18 | 2,061,977 |  | 2,004,362 |  |

SHAREHOLDERS' FUNDS | 6,440,682 |  | 6,383,067 |  |

The financial statements were approved by the director and authorised for issue on 20 January 2026 and were signed by:

Mr Anthony William Hinchliffe - Director

| Mayfield Properties Limited (Registered number: 10176790) |

Statement of Changes in Equity

for the Year Ended 31 March 2024

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 April 2022 | 4,378,705 |  | 1,457,785 |  | 5,836,490 |  |

Changes in equity

Total comprehensive income | - |  | 546,577 |  | 546,577 |  |

Balance at 31 March 2023 | 4,378,705 |  | 2,004,362 |  | 6,383,067 |  |

Changes in equity

Total comprehensive income | - |  | 57,615 |  | 57,615 |  |

Balance at 31 March 2024 | 4,378,705 |  | 2,061,977 |  | 6,440,682 |  |

| Mayfield Properties Limited (Registered number: 10176790) |

Notes to the Financial Statements

for the Year Ended 31 March 2024

1. | STATUTORY INFORMATION

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

| Going concern

| The Directors have considered the Company’s ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. The Company is actively in the process of undertaking a refinancing arrangement. This refinancing is expected to raise additional capital, which will be used to repay existing debt obligations and strengthen cash reserves. Furthermore, the refinancing is anticipated to reduce ongoing finance costs, thereby improving the Company’s overall financial position and performance into the future.

| Detailed forecasts prepared by management indicate that, following the successful completion of the refinancing, the business will be cash generative and able to meet its liabilities as they fall due. Based on these considerations, the Directors believe it is appropriate to prepare the financial statements on a going concern basis.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows.

| Preparation of consolidated financial statements

| The financial statements contain information about Mayfield Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Mayfield Property Assets LLP, The Chambers, 14 Church Street, Sheffield, S1 2GN.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Mayfield Properties Limited (Registered number: 10176790) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

2. | ACCOUNTING POLICIES - continued

| Significant judgements and estimates

| In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based upon historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recongised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

| Investment properties

| Investment properties are measured at their fair valuation. Professional valuations are periodically undertaken by independent chartered surveyors on all of the company's investment properties and the fair valuation is updated to this valuation estimate. In the intervening reporting periods between professional valuations, the trends in the property market are considered and applied to the company's investment properties. Where, in the opinion of the director, the fair values have changed significantly, the value of investment properties are updated accordingly.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Revenue on rental income is recognised evenly over the period for which the rental payment relates.

| Tangible fixed assets

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

| Fixtures and fittings | - | 20% on cost

| Motor vehicles | - | 25% on reducing balance

| Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

| Investments in subsidiaries

| Investments in subsidiary 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.

| Financial instruments

| Financial assets and financial liabilities are recognised when the company becomes 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 asset of the company after deducting all of its liabilities.

| Mayfield Properties Limited (Registered number: 10176790) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

2. | ACCOUNTING POLICIES - continued

| 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.

| Fixed asset investments

| Fixed asset investments, including alternative investment holdings, are stated at cost less any accumulated impairment losses.

3. | EMPLOYEES AND DIRECTORS

| There were no staff costs for the year ended 31 March 2024, nor for the year ended 31 March 2023.

| 2024 |  | 2023

£ | £ |

| Director's remuneration | - |  | - |  |

| There were no staff costs for the year ended 31 March 2024, nor for the year ended 31 March 2023.

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2024 |  | 2023

£ | £ |

| Depreciation - owned assets | 19,411 |  | 17,308 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2024 |  | 2023

£ | £ |

| Interest payable | 375,615 |  | 326,560 |  |

| Hire purchase | 2,724 |  | - |  |

378,339 |  | 326,560 |  |

| Mayfield Properties Limited (Registered number: 10176790) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

6. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2024 |  | 2023

£ | £ |

| Current tax:

| UK corporation tax | - |  | 2,007 |  |

| Deferred tax | 20,849 |  | 38,824 |  |

| Tax on profit | 20,849 |  | 40,831 |  |

7. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Motor |

| fittings |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 April 2023

| and 31 March 2024 | 28,621 |  | 69,500 |  | 98,121 |  |

| DEPRECIATION

| At 1 April 2023 | 21,487 |  | 11,583 |  | 33,070 |  |

| Charge for year | 4,931 |  | 14,480 |  | 19,411 |  |

| At 31 March 2024 | 26,418 |  | 26,063 |  | 52,481 |  |

| NET BOOK VALUE

| At 31 March 2024 | 2,203 |  | 43,437 |  | 45,640 |  |

| At 31 March 2023 | 7,134 |  | 57,917 |  | 65,051 |  |

8. | FIXED ASSET INVESTMENTS

2024 | 2023 |

£ | £ |

| Shares in group undertakings | 1,950,003 |  | 1,950,003 |  |

| Other investments not loans | 1,389,292 |  | 150,000 |  |

3,339,295 |  | 2,100,003 |  |

| Mayfield Properties Limited (Registered number: 10176790) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

8. | FIXED ASSET INVESTMENTS - continued

| Additional information is as follows:

| Shares in

| group

| undertakings

£ |

| COST

| At 1 April 2023

| and 31 March 2024 | 1,950,003 |  |

| NET BOOK VALUE

| At 31 March 2024 | 1,950,003 |  |

| At 31 March 2023 | 1,950,003 |  |

| Investments (neither listed nor unlisted) were as follows:

2024 | 2023 |

£ | £ |

| Other tangibles | - |  | 150,000 |  |

| Alternative investments | 1,389,292 |  | - |  |

1,389,292 |  | 150,000 |  |

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| Ant Marketing Limited

| Registered office: The Chambers, 14 Church Street, Sheffield, S1 2GN

| Nature of business: Telesales and call centre based marketing

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Mayfield Commercial Properties Limited

| Registered office: The Chambers, 14 Church Street, Sheffield, S1 2GN

| Nature of business: Commercial property rental

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Mayfield Student Properties Limited

| Registered office: The Chambers, 14 Church Street, Sheffield, S1 2GN

| Nature of business: Student property rental

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Mayfield Properties Limited (Registered number: 10176790) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

8. | FIXED ASSET INVESTMENTS - continued

| Mayfield Residential Properties Limited

| Registered office: The Chambers, 14 Church Street, Sheffield, S1 2GN

| Nature of business: Residential property rental

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

9. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2023 | 11,598,035 |  |

| Revaluations | 122,042 |  |

| At 31 March 2024 | 11,720,077 |  |

| NET BOOK VALUE

| At 31 March 2024 | 11,720,077 |  |

| At 31 March 2023 | 11,598,035 |  |

| The fair value of the company's investment properties were revalued on 31 March 2024 by the company director.

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

2024 | 2023 |

£ | £ |

| Trade debtors | 24,776 |  | 22,377 |  |

| Amounts owed by group undertakings | 1,315,990 |  | 1,283,162 |  |

| Other debtors | 305,017 |  | 277,387 |  |

| Directors' current accounts | 91,089 |  | 1,237,131 |  |

| Called up share capital not paid | 1 |  | 1 |  |

| Prepayments | 12,041 |  | 7,095 |  |

1,748,914 |  | 2,827,153 |  |

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

2024 | 2023 |

£ | £ |

| Other loans (see note 13) | 9,952 |  | 9,952 |  |

| Hire purchase contracts (see note 14) | 10,348 |  | 10,904 |  |

| Trade creditors | 34,962 |  | 18,732 |  |

| Amounts owed to group undertakings | 2,161,488 |  | 2,171,817 |  |

| Tax | 32,421 |  | 10,625 |  |

| Other creditors | 192,633 |  | 32,646 |  |

| Accruals and deferred income | 101,289 |  | 84,907 |  |

2,543,093 |  | 2,339,583 |  |

| Mayfield Properties Limited (Registered number: 10176790) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Other loans (see note 13) | 7,356,763 |  | 7,359,377 |  |

| Hire purchase contracts (see note 14) | 35,777 |  | 48,721 |  |

7,392,540 |  | 7,408,098 |  |

13. | LOANS

| An analysis of the maturity of loans is given below:

2024 | 2023 |

£ | £ |

| Amounts falling due within one year or on demand:

| Other loans | 9,952 |  | 9,952 |  |

| Amounts falling due between one and two years:

| Other loans - 1-2 years | 10,204 |  | 10,204 |  |

| Amounts falling due between two and five years:

| Other loans - 2-5 years | 2,283 |  | 12,233 |  |

| Amounts falling due in more than five years:

| Repayable otherwise than by instalments

| Other loans more 5yrs non-inst | 7,344,276 |  | 7,336,940 |  |

14. | LEASING AGREEMENTS

| Minimum lease payments under hire purchase fall due as follows:

2024 | 2023 |

£ | £ |

| Net obligations repayable:

| Within one year | 10,348 |  | 10,904 |  |

| Between one and five years | 35,777 |  | 48,721 |  |

46,125 |  | 59,625 |  |

| Mayfield Properties Limited (Registered number: 10176790) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

15. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2023 |

£ | £ |

| Other loans | 7,366,715 |  | 7,369,329 |  |

| The bank loans have been secured against the properties and a personal guarantee by the director.

16. | PROVISIONS FOR LIABILITIES

2024 | 2023 |

£ | £ |

| Deferred tax | 513,995 |  | 493,147 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2023 | 493,147 |  |

| Charge to Income Statement during year | 20,848 |  |

| Balance at 31 March 2024 | 513,995 |  |

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 437,870,500 | Ordinary | 0.01 | 4,378,705 |  | 4,378,705 |  |

18. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2023 | 2,004,362 |  |

| Profit for the year | 57,615 |  |

| At 31 March 2024 | 2,061,977 |  |

19. | ULTIMATE PARENT ENTITY

| Mayfield Property Assets LLP is regarded by the director as being the company's ultimate parent company.

| Mayfield Properties Limited (Registered number: 10176790) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

20. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 | 2023 |

£ | £ |

| Mr Anthony William Hinchliffe

| Balance outstanding at start of year | 1,237,131 |  | 790,824 |  |

| Amounts advanced | 386,242 |  | 446,307 |  |

| Amounts repaid | (1,532,284 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 91,089 |  | 1,237,131 |  |

21. | RELATED PARTY DISCLOSURES

| Other related parties

2024 | 2023 |

£ | £ |

| Amount due to related party | 187,260 |  | 29,446 |  |

| The related party is Ant Protect Limited, an entity under the control of the director, A W Hinchliffe.