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REGISTERED NUMBER: 05752067 (England and Wales)

| FINANCIAL STATEMENTS |

| FOR THE PERIOD |

| 1 JULY 2024 TO 31 DECEMBER 2025 |

| FOR |

| MANGROVE ESTATES LIMITED |

MANGROVE ESTATES LIMITED (REGISTERED NUMBER: 05752067) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Chartered Accountants' Report | 6 |

| MANGROVE ESTATES LIMITED |

COMPANY INFORMATION

FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2025

| DIRECTORS: | Mr P K F Sparkes

| Mrs K Sparkes

| REGISTERED OFFICE: | 3 Oak Meadows

| Bramhall

| Stockport

| Cheshire

| SK7 1AR

| REGISTERED NUMBER: | 05752067 (England and Wales)

| ACCOUNTANTS: | Dunhams

| Chartered Accountants

| 11 Warwick Road

| Old Trafford

| Stretford

| Manchester

| M16 0QQ

MANGROVE ESTATES LIMITED (REGISTERED NUMBER: 05752067) |

BALANCE SHEET

31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | - |  | 1 |  |

Investment property | 5 | 1,017,612 |  | 717,612 |  |

1,017,612 |  | 717,613 |  |

CURRENT ASSETS

Stocks | 6 | 1,253,259 |  | 1,490,350 |  |

Debtors | 7 | 242,350 |  | 499,467 |  |

Cash at bank | 220,897 |  | 346,884 |  |

1,716,506 |  | 2,336,701 |  |

CREDITORS

Amounts falling due within one year | 8 | 176,905 |  | 251,277 |  |

NET CURRENT ASSETS | 1,539,601 |  | 2,085,424 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,557,213 |  | 2,803,037 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 2,557,113 |  | 2,802,937 |  |

SHAREHOLDERS' FUNDS | 2,557,213 |  | 2,803,037 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 3 February 2026 and were signed on its behalf by:

Mr P K F Sparkes - Director

MANGROVE ESTATES LIMITED (REGISTERED NUMBER: 05752067) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Mangrove Estates 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 (£).

| The accounts are presented rounded to the nearest pound.

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.

| Significant judgements and estimates

| In preparing the accounts the directors are required to make certain judgements and estimates in compliance with FRS102 (Section 1a), those which are significant are explained below.

| Work in progress

| In calculating the amounts included as work in progress the directors look at all the available information for each site, including the latest applications, and their own knowledge of the projects. This is then used to assess any work completed but not billed within the period to include as work in progress.

| No other estimates or judgements are deemed to have a significant impact on the financial statements.

| Turnover

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

| Tangible fixed assets

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

| Computer equipment | - | 33% on cost

| Investment property

| It is the policy of the directors to state at market value.

| Stocks and work-in-progress

| Land stock & work in progress is comprised of land purchased with the intention to realise development

| opportunities.

| It is valued at the lower of cost and net realisable and this is reviewed each year by the directors based on their

| knowledge of the market at the year end.

| Taxation

| Taxation for the period 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.

MANGROVE ESTATES LIMITED (REGISTERED NUMBER: 05752067) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

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

| Going concern basis of accounting

| At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the director that he will continue to give financial support to the company for twelve months from the date of signing these financial statements.On this basis the director considers it appropriate to prepare the accounts on a going concern basis. Without this assurance the company's ability to continue as a going concern may be in doubt.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was NIL (2024 - NIL).

4. | TANGIBLE FIXED ASSETS

| Computer

| equipment

£ |

| COST

| At 1 July 2024

| and 31 December 2025 | 7,207 |  |

| DEPRECIATION

| At 1 July 2024

| and 31 December 2025 | 7,207 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  |

| At 30 June 2024 | - |  |

MANGROVE ESTATES LIMITED (REGISTERED NUMBER: 05752067) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2025

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 July 2024 | 717,612 |  |

| Additions | 300,000 |  |

| At 31 December 2025 | 1,017,612 |  |

| NET BOOK VALUE

| At 31 December 2025 | 1,017,612 |  |

| At 30 June 2024 | 717,612 |  |

6. | STOCKS

2025 | 2024 |

£ | £ |

| Work-in-progress | 1,253,259 |  | 1,490,350 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 47,300 |  | 9,250 |  |

| Other debtors | 99 |  | 99 |  |

| PSC | 3,626 |  | 3,626 |  |

| BBS Developments | 160,000 |  | 160,000 |  |

| VAT | 3,247 |  | 3,349 |  |

| Prepayments and accrued income | 12,652 |  | 12,652 |  |

| Prepayments | 15,426 |  | 310,491 |  |

242,350 |  | 499,467 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | - |  | 3,144 |  |

| Tax | - |  | 40,035 |  |

| Social security and other taxes | 6,409 |  | 6,409 |  |

| Other creditors | 138,218 |  | 171,424 |  |

| Directors' current accounts | 1,979 |  | 1,979 |  |

| Accrued expenses | 30,299 |  | 28,286 |  |

176,905 |  | 251,277 |  |

9. | ULTIMATE CONTROLLING PARTY

| The director Mr P K F Sparkes holds the majority of the shares in the company and is therefore the controlling party of the company.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

MANGROVE ESTATES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mangrove Estates Limited for the period ended 31 December 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mangrove Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mangrove Estates Limited and state those matters that we have agreed to state to the Board of Directors of Mangrove Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mangrove Estates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mangrove Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Mangrove Estates Limited. You consider that Mangrove Estates Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Mangrove Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dunhams

Chartered Accountants

11 Warwick Road

Old Trafford

Stretford

Manchester

M16 0QQ

3 February 2026