Company registration number 10874721 (England and Wales)
Mayoral UK Ltd
Financial Statements
For the year ended 31 December 2025
Mayoral UK Ltd
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
Mayoral UK Ltd
Balance sheet
As at 31 December 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,136
1,796
Current assets
Debtors
4
577,118
477,322
Cash at bank and in hand
486,138
647,395
1,063,256
1,124,717
Creditors: amounts falling due within one year
5
(55,292)
(245,665)
Net current assets
1,007,964
879,052
Total assets less current liabilities
1,012,100
880,848
Provisions for liabilities
(1,034)
(449)
Net assets
1,011,066
880,399
Capital and reserves
Called up share capital
100,000
100,000
Profit and loss reserves
911,066
780,399
Total equity
1,011,066
880,399

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 April 2026 and are signed on its behalf by:
Mr M D De La Maza
Director
Company registration number 10874721 (England and Wales)
Mayoral UK Ltd
Statement of changes in equity
For the year ended 31 December 2025
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2024
100,000
613,995
713,995
Year ended 31 December 2024:
Profit and total comprehensive income
-
166,404
166,404
Balance at 31 December 2024
100,000
780,399
880,399
Year ended 31 December 2025:
Profit and total comprehensive income
-
130,667
130,667
Balance at 31 December 2025
100,000
911,066
1,011,066
Mayoral UK Ltd
Notes to the financial statements
For the year ended 31 December 2025
- 3 -
1
Accounting policies
Company information

Mayoral UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 26 Cross Street, Manchester, England, M2 7AQ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Despite the decrease in sales this year, Mayoral thinks that this situation will change in the near future. We think that the UK market is in the middle of a changing process. Some well-established customers are in the middle of a generation change, where shop owners are retiring, and/or are in the midst of selling or passing down their businesses to their children/grandchildren. true

Mayoral is a well-known company and brand amongst our customers and consumers. In July’25 we attended the INDX KIDSWEAR (a children's fashion trading show) in Birmingham to promote the company/brand. Attendance in February 2026 resulted in 7 new clients, so we are happy that continued marketing is producing results.

During 2025, we launched our Men’s Brand (Boston Wear) in the multi-brand channels in Spain, Portugal, Italy, Greece, Poland, Morocco, Belgium, and Holland. During 2026, we intend to launch it into the UK. We are investing further resources into agents who will deal with our SS’27 collection, that we will start to sell during Q3 of 2026.

Up to the date of presentation of these annual accounts, there have been no significant effects on the activity of the Company and the Group and there is no material uncertainty that casts significant doubt upon the entity’s ability to continue as going concern. According to the current estimates of the Directors, no relevant effects are estimated in the year 2026.

1.3
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Mayoral UK Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
over life of lease
Fixtures and fittings
15% on cost
Computers
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 assets of the company after deducting all of its liabilities.

Mayoral UK Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Mayoral UK Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
- 6 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
Mayoral UK Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2025
- 7 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2025
20,760
37,149
57,909
Additions
-
0
4,118
4,118
At 31 December 2025
20,760
41,267
62,027
Depreciation and impairment
At 1 January 2025
20,760
35,353
56,113
Depreciation charged in the year
-
0
1,778
1,778
At 31 December 2025
20,760
37,131
57,891
Carrying amount
At 31 December 2025
-
0
4,136
4,136
At 31 December 2024
-
0
1,796
1,796
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
308,371
270,548
Corporation tax recoverable
7,937
-
0
Amounts owed by group undertakings
185,870
-
0
Other debtors
74,940
206,774
577,118
477,322
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
31,844
209,872
Corporation tax
-
0
12,856
Other taxation and social security
986
2,006
Other creditors
22,462
20,931
55,292
245,665
Mayoral UK Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2025
- 8 -
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 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.

Senior Statutory Auditor:
Christopher Abbott FCA
Statutory Auditor:
DJH Audit Limited
Date of audit report:
17 April 2026
7
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
66,675
104,775
8
Parent company

The company has taken advantage of the 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.

Mayoral UK Limited is a subsidiary company of ultimate parent company Indumenta Pueri S.L., Calle la Orotava, 118, Malaga 29006, Malaga, Spain, a company registered in Spain who produce consolidated financial statements for the group.

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