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MJL Developments (Cornwall) Limited
Annual Report and Unaudited Financial Statements
Year Ended 30 September 2025

Registration number: 07889995

MJL Developments (Cornwall) Limited

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 5

MJL Developments (Cornwall) Limited

Balance Sheet

30 September 2025

| Note | 2025 £ | 2024 £
Current assets |  |  |
Stocks | 4 | 571,051 | 473,681
Debtors | 5 | 2,081 | 909
Cash at bank and in hand |  | 8,076 | 88,763
|  | 581,208 | 563,353
Creditors: Amounts falling due within one year | 6 | (296,984) | (276,752)
Net assets |  | 284,224 | 286,601
Capital and reserves |  |  |
Called up share capital | 7 | 100 | 100
Profit and loss account |  | 284,124 | 286,501
Shareholders' funds |  | 284,224 | 286,601

For the financial year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 February 2026 and signed on its behalf by:

......................................... M J Lugg Director

Company Registration Number: 07889995

MJL Developments (Cornwall) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
MJL House
Cornwall Business Park West
Scorrier
Redruth
Cornwall
TR16 5FG

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in pounds sterling which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest pound.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis.
The company has development sites and is exploring options on the build on each of these locations. In addtion, the company continues to be supported by its shareholders through the extension of loan facilities which will not be called for repayment until such time that the company can advance funds.

Revenue recognition

Turnover represents amounts chargeable, net of VAT and discounts, in respect of the sale of units to third parties.
Revenue is recognised at the point of completion.

MJL Developments (Cornwall) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Stocks

Stocks, which relates to work in progress on development projects, are carried at the lower of cost and net realisable value.
The sale of development projects are recognised in profit and loss on completion.

Financial instruments

Classification
The company holds the following financial instruments:
• Short term other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

MJL Developments (Cornwall) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2025

Critical judgements and estimation uncertainty

In applying the company’s accounting policies, the directors are 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 on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
In the opinion of the directors the following areas are where judgements have been made by management:
Carrying value of work in progress
The directors have considered the carrying value of work in progress which relates to an ongoing site development (note 4). Based on expectations of future sales and anticipated costs to complete the Directors do not believe that an impairment of this value is required.
At the balance sheet date the carrying value of work in progress is £571,051 (2024 - £473,681)

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4 | Stocks

| 2025 £ | 2024 £
Work in progress | 571,051 | 473,681

5 | Debtors

Current | 2025 £ | 2024 £
Other debtors | 2,081 | 909
| 2,081 | 909

MJL Developments (Cornwall) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2025

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Amounts due to group undertakings | 8 | 169,384 | 149,352
Other creditors |  | 125,300 | 125,300
Accrued expenses |  | 2,300 | 2,100
|  | 296,984 | 276,752

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary share capital of £1 each | 100 | 100 | 100 | 100

8 | Related party transactions

Transactions with Directors
During the year the company has had a loan with a director. The loan is interest free, unsecured, and repayable upon demand.
At the balance sheet date the company owed the director £125,000 (2024 - £125,000).
Transactions with associates
During the year the company had loan accounts with its associates. The loans are interest free, unsecured, and repayable upon demand.
At the balance sheet date the company owed its associates £154,384 (2024 - £149,352). In addition to this in September 2025 an associated company advanced £15,000 (2024 - £nil) in respect of the purchase of a site for future development. This facility attracts interest at 12% compounded and is repayable on demand.
The total amount outstanding to associates including this facility is £169.384 (2024 - £149,352).