Company registration number 03731186 (England and Wales)
Middlereach Limited
Unaudited Financial Statements
For the year ended 31 December 2025
Middlereach Limited
Company information
Director
M W Middleton
Secretary
E L Middleton
Company number
03731186
Registered office
93 Chancery Lane
London
WC2A 1DU
Accountants
DJH Derby Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
Middlereach Limited
Contents
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
Middlereach Limited
Accountants' report to the director on the preparation of the unaudited statutory financial statements of Middlereach Limited for the year ended 31 December 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Middlereach Limited for the year ended 31 December 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of Middlereach Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Middlereach Limited and state those matters that we have agreed to state to the b oard of d irectors of Middlereach Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Middlereach Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Middlereach Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Middlereach Limited. You consider that Middlereach Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Middlereach Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

DJH Derby Limited
Accountants
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
4 August 2026
Middlereach Limited
Balance Sheet
For the year ended 31 December 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
3
5,120,918
4,750,000
Current assets
Debtors
4
18,554
3,351
Cash at bank and in hand
11,160
15,770
29,714
19,121
Creditors: amounts falling due within one year
5
(805,496)
(393,935)
Net current liabilities
(775,782)
(374,814)
Total assets less current liabilities
4,345,136
4,375,186
Creditors: amounts falling due after more than one year
6
(822,316)
(772,118)
Provisions for liabilities
(624,137)
(644,447)
Net assets
2,898,683
2,958,621
Capital and reserves
Called up share capital
7
100
100
Fair value reserve
2,749,613
2,816,228
Profit and loss reserves
148,970
142,293
Total equity
2,898,683
2,958,621
Middlereach Limited
Balance Sheet (continued)
For the year ended 31 December 2025
- 3 -

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

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 4 August 2026
M W Middleton
Director
Company registration number 03731186 (England and Wales)
Middlereach Limited
Notes to the financial statements
For the year ended 31 December 2025
- 4 -
1
Accounting policies
Company information

Middlereach Limited is a private company limited by shares incorporated in England and Wales. The registered office is 93 Chancery Lane, London, WC2A 1DU.

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 modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable true expectation that the company has adequate resources to continue in operation existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. The validity of this assumption is dependent on the continued support of the other group and related companies which has been received in writing.

1.3
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:

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.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
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.

Middlereach Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
- 5 -
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.

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.

1.6
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.

Middlereach Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
- 6 -
2
Employees

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

2025
2024
Number
Number
Total
0
0
3
Investment property
2025
£
Fair value
At 1 January 2025
4,750,000
Additions
370,918
At 31 December 2025
5,120,918

The fair value of the investment property was reviewed by the director at 31 December 2025. The fair value has been determined by carrying out a review of the property market and investment yields in the area. When determining the value of the property the director has also considered the prospective planning applications and future opportunities of the site.

The investment property has a carrying amount at historical cost of £1,659,927 (2024 - £1,289,009).

4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
18,554
3,351
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
37,407
14,348
Other creditors
768,089
379,587
805,496
393,935
Middlereach Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
- 7 -
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
822,316
772,118
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
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