Company No: 12272389 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	Sir Nigel Kim Darroch
	Vanessa Claire Darroch

Registered office	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA
	United Kingdom

Company number

12272389 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA

	Note	2025		2024
		£		£
Current assets
Debtors	5	331,003		243,975
Cash at bank and in hand		310,081		290,278
		641,084		534,253
Creditors: amounts falling due within one year	6	( 153,615)		( 86,969)
Net current assets		487,469		447,284
Total assets less current liabilities		487,469		447,284
Net assets		487,469		447,284
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		487,369		447,184
Total shareholders' funds		487,469		447,284

For the financial year ending 31 October 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of St Mawes Enterprises Limited (registered number: 12272389) were approved and authorised for issue by the Board of Directors on 30 July 2026. They were signed on its behalf by:

Sir Nigel Kim Darroch Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

St Mawes Enterprises Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor, 168 Shoreditch High Street, , London, E1 6RA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings	3 years straight line
Office equipment	3 years straight line

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Dividends on equity shares

	2025		2024
	£		£
Amounts recognised as distributions to equity holders in the financial year:
Final dividend for the financial year ended 31 October 2025 of £2,100.00 (2024: £720.00) per ordinary share	210,000		72,000

4. Tangible assets

	Fixtures and fittings		Office equipment		Total
	£		£		£
Cost
At 01 November 2024	2,414		5,572		7,986
At 31 October 2025	2,414		5,572		7,986
Accumulated depreciation
At 01 November 2024	2,414		5,572		7,986
At 31 October 2025	2,414		5,572		7,986
Net book value
At 31 October 2025	0		0		0
At 31 October 2024	0		0		0

5. Debtors

	2025		2024
	£		£
Trade debtors	0		34,449
Other debtors	331,003		209,526
	331,003		243,975

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	2,263		0
Taxation and social security	149,231		85,044
Other creditors	2,121		1,925
	153,615		86,969

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 A ordinary shares of £ 1.00 each	100		100

8. Related party transactions

Transactions with the entity's directors

During the year, the company loaned the directors £344,000 (2024: £209,526). The directors met expenses on behalf of the company totalling £12,523 (2024: £Nil). The directors made repayments of £210,000 (2024: £71,987). As at the balance sheet date, the company was owed £331,003 (2024: £209,526) by the directors. The loan to the directors was repaid within 9 months of the year end.