REGISTERED NUMBER: 10696819 (England and Wales)

Manxprop Ltd

Financial Statements

for the Year Ended 30 September 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Westhorpe

P Ligertwood

REGISTERED OFFICE:

Unit 2, Kenyon Forge

Kenyon Street

Birmingham

West Midlands

B18 6DH

REGISTERED NUMBER:

10696819 (England and Wales)

AUDITORS:

TC Group

Statutory Auditor

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

FIXED ASSETS

Investments

4

104

4,398,186

CURRENT ASSETS

Debtors

5

1,000,852

-

CREDITORS

Amounts falling due within one year

6

18,377

7,760

NET CURRENT ASSETS/(LIABILITIES)

982,475

(7,760

)

TOTAL ASSETS LESS CURRENT LIABILITIES

982,579

4,390,426

CAPITAL AND RESERVES

Called up share capital

7

4,398,186

4,398,186

Retained earnings

(3,415,607

)

(7,760

)

SHAREHOLDERS' FUNDS

982,579

4,390,426

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 18 June 2026 and were signed on its behalf by:

S Westhorpe - Director

1.	STATUTORY INFORMATION

Manxprop Ltd 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.

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.

The financial statements have been prepared on a going concern basis which assumes that the company will continue to operate for the foreseeable future.

The directors have a reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. For this reason, along with the continued support of the directors, wider group and strong associates, they are continuing to adopt the going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Manxprop Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less accumulated impairment.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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 balance sheet date.

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 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.

Going concern

The directors have a reasonable expectation that the group and the parent company have adequate resources to continue operations for the foreseeable future such that it can continue to meet its liabilities for a period of not less than twelve months after the date of approval of these financial statements. For this reason, along with the continued support of the directors, they are continuing to adopt the going concern basis.

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2024

4,398,186

Additions

4

Disposals

(4,398,086

)

At 30 September 2025

104

NET BOOK VALUE

At 30 September 2025

104

At 30 September 2024

4,398,186

The company's investments at the Balance Sheet date in the share capital of companies include the following:

TVCO Limited

Registered office: Unicol House, Green Road, Headington, Oxford, OX3 8EU

Nature of business: Rental of investment properties

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

£

Aggregate capital and reserves

13,927,882

12,757,634

Profit/(loss) for the year

1,170,248

(472,610

)

Kenyon Forge Management Company Limited *

Registered office: Unit 18, Kenyon Forge, Kenyon Street, Birmingham, West Midlands, B18 6DH

Nature of business: Dormant company

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

£

Aggregate capital and reserves

2

2

Following implementation of a group reorganisation in the year, and prior to Zyox Limited leaving the group headed by Manxprop Limited, the company acquired the shares in Kenyon Forge Management Company Limited from Zyox Limited.

Kenyon Forge Limited *

Registered office: Unit 18, Kenyon Forge, Kenyon Street, Birmingham, West Midlands, B18 6DH

Nature of business: Rental of investment properties

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

£

Aggregate capital and reserves

18,915,352

6,365,870

Profit for the year

138,220

175,420

Following implementation of a group reorganisation in the year, the shares in Kenyon Forge Limited were directly acquired by Manxprop Limited from Birmingham Swallow Investments Limited, prior to that company undertaking a capital reduction and commencing strike-off procedures. Subsequently a bonus share issue was made in respect of the company's ordinary £1 shares in Kenyon Forge Limited, under which the company received 99,998 new ordinary £1 shares.

* previously indirectly held, however following reorganisation, held directly

During the year, the entire issued share capital held in Zyox Limited (and its direct subsidiaries, Birmingham Swallow Investments Limited and Megabrokers Limited), was transferred to the Trustees of the Peter Ligertwood Manx Trust (a trust settled by Mr P Ligertwood, who is also the sole shareholder of the company) for a consideration of £1,000,852, representing market value as determined by the directors.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

1,000,852

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

-

7,760

Other creditors

18,377

-

18,377

7,760

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

4,398,186

Ordinary

£1

4,398,186

4,398,186

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

The Report of the Auditors was unqualified.

Stephen Butler (Senior Statutory Auditor)

for and on behalf of TC Group

9.	ULTIMATE CONTROLLING PARTY

The controlling party is P Ligertwood.