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REGISTERED NUMBER: 00272071 (England and Wales)

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

| FOR |

| MUTUAL REAL ESTATE COMPANY LIMITED |

MUTUAL REAL ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00272071) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2024

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 3 |

| MUTUAL REAL ESTATE COMPANY LIMITED |

COMPANY INFORMATION

for the Year Ended 31 December 2024

| DIRECTORS: | R J Alexander

| M J Alexander

| A P Alexander

| Ms S E Lock

| Ms M F Lock

| D J Lock

| SECRETARY: | R J Alexander

| REGISTERED OFFICE: | C/o Gervis PLC

| 4 Wick Lane

| Christchurch

| Dorset

| BH23 1HX

| REGISTERED NUMBER: | 00272071 (England and Wales)

| AUDITORS: | Rothmans Audit LLP

| Statutory Auditors

| Chartered Accountants

| Avebury House

| St Peter Street

| Winchester

| Hampshire

| SO23 8BN

MUTUAL REAL ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00272071) |

STATEMENT OF FINANCIAL POSITION

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Property, plant and equipment | 4 | 8,802 |  | 9,080 |  |

Investment property | 5 | 23,396,600 |  | 22,325,000 |  |

23,405,402 |  | 22,334,080 |  |

CURRENT ASSETS

Debtors | 6 | 90,845 |  | 68,171 |  |

Cash at bank | 283,600 |  | 289,283 |  |

374,445 |  | 357,454 |  |

CREDITORS

Amounts falling due within one year | 7 | 168,872 |  | 189,235 |  |

NET CURRENT ASSETS | 205,573 |  | 168,219 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 23,610,975 |  | 22,502,299 |  |

PROVISIONS FOR LIABILITIES | 8 | 4,186,753 |  | 3,946,255 |  |

NET ASSETS | 19,424,222 |  | 18,556,044 |  |

CAPITAL AND RESERVES

Called up share capital | 500 |  | 500 |  |

Fair Value Reserve | 16,697,086 |  | 15,865,984 |  |

Retained earnings | 2,726,636 |  | 2,689,560 |  |

SHAREHOLDERS' FUNDS | 19,424,222 |  | 18,556,044 |  |

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 8 March 2026 and were signed on its behalf by:

R J Alexander - Director

M J Alexander - Director

MUTUAL REAL ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00272071) |

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Mutual Real Estate Company 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" 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.

| These financial statements have been prepared on a going concern basis.

| Turnover

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

| Rental income from property is recognised for the period of occupation.

| Income on the sale of properties is recognised when an unconditional and irrevocable contract has been entered into for the sale of the property.

| Tangible fixed assets

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

| Plant and machinery | - | Straight line over 2 years

| Fixtures and fittings | - | 25% on 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. A fair value reserve is recognised within reserves which holds the cumulative fair value gains which are not available for distribution.

| Financial instruments

| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

| Debtors and creditors with no stated interest rate which are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

| 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date, including amounts held within the revaluation reserve.

| 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.

MUTUAL REAL ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00272071) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| 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.

| Cash and cash equivalents

| Cash and short term deposits included in the statement of financial position comprise cash and short term deposits with an original maturity of three months or less.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2023 - 2 ) .

4. | PROPERTY, PLANT AND EQUIPMENT

| Fixtures |

| Plant and |  | and |

| machinery |  | fittings |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024 | 34,024 |  | 26,799 |  | 60,823 |  |

| Additions | 1,499 |  | - |  | 1,499 |  |

| At 31 December 2024 | 35,523 |  | 26,799 |  | 62,322 |  |

| DEPRECIATION

| At 1 January 2024 | 24,944 |  | 26,799 |  | 51,743 |  |

| Charge for year | 1,777 |  | - |  | 1,777 |  |

| At 31 December 2024 | 26,721 |  | 26,799 |  | 53,520 |  |

| NET BOOK VALUE

| At 31 December 2024 | 8,802 |  | - |  | 8,802 |  |

| At 31 December 2023 | 9,080 |  | - |  | 9,080 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 January 2024 | 22,325,000 |  |

| Revaluations | 1,071,600 |  |

| At 31 December 2024 | 23,396,600 |  |

| NET BOOK VALUE

| At 31 December 2024 | 23,396,600 |  |

| At 31 December 2023 | 22,325,000 |  |

| Investment Property was revalued on an open market basis as at 31 December 2023 by Sneller Commercial and revalued by the directors on the same basis on 31 December 2024.

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

|  | 2023 |  |  | 2022 |  |

| £ |  |  | £ |  |

| Cost |  |  | 2,512,761 |  |  | 2,512,761 |  |

| All changes in the value of investment property have been included directly in the profit and loss account. Movements in the fair value of investment properties are not taxable until the investments are disposed of and provision has been made in these accounts for the potential tax which would be due if the assets were sold at their current market values.

MUTUAL REAL ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00272071) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2024

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

2024 | 2023 |

£ | £ |

| Trade debtors | 32,501 |  | 33,134 |  |

| Other debtors | 58,344 |  | 35,037 |  |

90,845 |  | 68,171 |  |

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

2024 | 2023 |

£ | £ |

| Trade creditors | 8,625 |  | 8,625 |  |

| Taxation and social security | 48,723 |  | 74,023 |  |

| Other creditors | 111,524 |  | 106,587 |  |

168,872 |  | 189,235 |  |

8. | PROVISIONS FOR LIABILITIES

2024 | 2023 |

£ | £ |

| Deferred tax | 4,186,753 |  | 3,946,255 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 3,946,255 |  |

| Provided during year | 240,498 |  |

| Balance at 31 December 2024 | 4,186,753 |  |

9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Lisa Wilson FCA (Senior Statutory Auditor)

| for and on behalf of Rothmans Audit LLP