MAYO DEVELOPMENTS LIMITED


Directors	A O Ogbeta
	O O Ogbeta


Registered Address	Ritzy Offices 2-3 Dorcan Business Village
	Murdock Road
	Swindon
	SN3 5HY


Registered Number	10349136 (England and Wales)

Balance Sheet as at
31 August 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		5,638		5,736
Investment property	4		2,430,000		2,100,000
			2,435,638		2,105,736
Current assets
Debtors		9,790		9,724
Cash at bank and on hand		276		18,528
		10,066		28,252
Creditors amounts falling due within one year	5	(144,954)		(280,089)
Net current assets (liabilities)			(134,888)		(251,837)
Total assets less current liabilities			2,300,750		1,853,899
Creditors amounts falling due after one year	6		(2,481,782)		(2,283,372)
Provisions for liabilities	8		(159,429)		(81,529)
Net assets			(340,461)		(511,002)
Capital and reserves
Called up share capital			100		100
Revaluation reserve			478,286		326,121
Profit and loss account			(818,847)		(837,223)
Shareholders' funds			(340,461)		(511,002)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 22 May 2026, and are signed on its behalf by:

A O Ogbeta
Director
Registered Company No. 10349136

MAYO DEVELOPMENTS LIMITED

Notes to the Financial Statements
for the year ended 31 August 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Fixtures and fittings	20

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Fixtures & fittings	Total
	£	£
Cost or valuation
At 01 September 24	16,760	16,760
Additions	1,314	1,314
At 31 August 25	18,074	18,074
Depreciation and impairment
At 01 September 24	11,024	11,024
Charge for year	1,412	1,412
At 31 August 25	12,436	12,436
Net book value
At 31 August 25	5,638	5,638
At 31 August 24	5,736	5,736

4.	Investment property
	Investment property comprises of freehold properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.


		£
	Fair value at 01 September 24	2,100,000
	Additions	18,403
	Fair value adjustments	311,597
	At 31 August 25	2,430,000

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	28,424	23,250
Bank borrowings and overdrafts	2,596	2,596
Other creditors	108,678	62,964
Accrued liabilities and deferred income	5,256	191,279
Total	144,954	280,089

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	1,605,085	1,607,681
Other creditors	876,697	675,691
Total	2,481,782	2,283,372

7.	Secured creditors
	Bank borrowings are secured by way of fixed and floating charges over the assets of the company.

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	159,429	81,529
Total	159,429	81,529