For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question 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.

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

Myfield Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ground Floor, 31 Kentish Town Road, London, NW1 8NL. The principal place of business is Unit 3, Delta Court, Manor Way, Borehamwood, Herts, WD6 1FJ.

The principal activity of the company is that of property investment.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investment properties at fair value. The changes in fair value are recognised in the statement of income and retained earnings.

The company's investment properties comprise properties jointly owned with other parties as tenants in common. It is only the company's share of assets, liabilities, income and expenditure that is brought into the accounts.

The principal accounting policies adopted are set out below.

The directors have assessed whether the going concern basis of preparation of the financial statements continues to be appropriate based upon whether there are any material uncertainties related to events or conditions that may cast doubt on the ability of the company to continue as a going concern. This assessment has been required in light of the deficit in the company's Statement of Income and Retained Earnings (page 4). The company's main indebtedness is to the parent company which has indicated its willingness to continue to support the company to continue in business. The company is part of a group with a robust financial position, has no institutional borrowings, has a substantial cash balance, and continues to enjoy good cash flows and revenues from its rental stream. Accordingly, at the time of approving the financial statements, the directors consider that the company will be able to continue its operations for at least the next twelve months and for the foreseeable future, and thus conclude that the going concern basis remains appropriate.

The turnover represents rents receivable for the year.

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment properties are revalued to their fair values at each reporting date and any changes in fair values are recognised in the statement of income and retained earnings.

Property purchases and disposals

Purchases and disposal of investment properties are recognised where contracts have been completed during the accounting period. Net surplus or deficit arising on sale, if applicable, is taken to the statement of income and retained earnings.

Property maintenance and refurbishments costs

Irrecoverable running costs directly attributable to specific properties are charged to the statement of income and retained earnings as costs of sales. Costs incurred in the improvement of the portfolio which, in the opinion of the directors, are not of a capital nature are written off to the statement of income and retained earnings as incurred.

Administration

All costs not directly attributable to the individual properties are treated as administration expenses.

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly, and a loss is recognised in the statement of income and retained earnings, Prior impairments are also reviewed for possible reversal at each reporting date.

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.

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, 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.

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.

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 payments 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. Amounts 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.

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.

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

Related party transactions

The company has taken advantage of the exemption from disclosing transactions with members of the group as they are wholly owned.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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

The employees comprise only the directors who are also directors of the other active companies within the group.

The group's payroll is operated by a fellow subsidiary and apportioned to group companies as appropriate.

Investment property comprises the company's share in freehold properties which are jointly owned with other parties as tenants in common.

All of the company's investment properties were valued at 30 November 2025 by Marc Robson B.Sc. (Estate Management) and a member of NAEA Propertymark. The valuations were carried out on an open market value. An appropriate all risk yield was applied to the rental income stream of each property to derive the capital value. The all risk yield factors in the following considerations; recent private treaty and auction investment sales; length of lease remaining and the risk of the tenant not renewing; quality of the town and how much supply/voids are in the location, whether rents are increasing/decreasing and then factoring this into the rental income stream; size of the unit and the condition of the unit.

The historical cost of the investment properties at 30 November 2025 was £2,999,722 (2024 - £2,951,997).

Amounts owed to group undertakings are unsecured, interest-free have no fixed date of repayment and are repayable on demand.

The ultimate parent company (note 9) is not controlled by any single party.

The company is exempt from disclosing transactions with members of the group as they are wholly owned, other than amounts owed to group undertakings as disclosed in note 6.

The company's ultimate parent undertaking is Starmount (Securities) Limited, a company incorporated in England and Wales.