Mishons Limited
(formerly Mishon Welton Limited)
Unaudited Financial Statements
For the year ended 31 December 2025
Pages for Filing with Registrar
Company Registration No. 05830818 (England and Wales)
Mishons Limited
(formerly Mishon Welton Limited)
Company Information
Director
R James
Company number
05830818
Registered office
94 Church Road
Hove
East Sussex
BN3 2EB
Accountants
Moore Kingston Smith LLP
The Shipping Building
The Old Vinyl Factory
Blyth Road
Hayes
London
UB3 1HA
Business address
94 Church Road
Hove
East Sussex
BN3 2EB
Mishons Limited
(formerly Mishon Welton Limited)
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
Mishons Limited
(formerly Mishon Welton Limited)
Balance Sheet
As at 31 December 2025
31 December 2025
Page 1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
25,087
40,677
Current assets
Debtors
4
171,680
120,296
Cash at bank and in hand
18,088
19,378
189,768
139,674
Creditors: amounts falling due within one year
5
(318,945)
(346,444)
Net current liabilities
(129,177)
(206,770)
Total assets less current liabilities
(104,090)
(166,093)
Creditors: amounts falling due after more than one year
6
(18,340)
(17,419)
Provisions for liabilities
(6,272)
(10,169)
Net liabilities
(128,702)
(193,681)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(128,802)
(193,781)
Total equity
(128,702)
(193,681)
Mishons Limited
(formerly Mishon Welton Limited)
Balance Sheet (Continued)
As at 31 December 2025
31 December 2025
Page 2

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.

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.

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.

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

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

The financial statements were approved and signed by the director and authorised for issue on 12 August 2026
R James
Director
Company Registration No. 05830818
Mishons Limited
(formerly Mishon Welton Limited)
Notes to the Financial Statements
For the year ended 31 December 2025
Page 3
1
Accounting policies
Company information

Mishons Limited is a private company limited by shares incorporated in England and Wales. The registered office is 94 Church Road, Hove, East Sussex, BN3 2EB.

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 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. The principal accounting policies adopted are set out below.

1.2
Going concern

For the year ended 31 December 2025, the company reported a profit before tax of £86,968 (loss £37,040: 2024). At the balance sheet date, the company had net current liabilities of £128,702 (2024: £193,681). Based on cash flow projections the company is expected to generate positive cash flows over the next 12 months.true

The company continues to be financed by a bank loan, a loan from the director, and support from other group companies. The director and the other group companies have confirmed that this support will continue for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

1.3
Turnover

Turnover, which excludes VAT, comprises commissions and fees receivable. Commissions earned on sales of property is recognised on exchange of contracts.

1.4
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:

Leasehold land and buildings
Over the life of the lease
Plant and machinery
25% straight line
Fixtures and fittings
25% straight line
Computers
25% straight line

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.

Mishons Limited
(formerly Mishon Welton Limited)
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 4
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.6
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 current liabilities.

1.7
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.

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.

Mishons Limited
(formerly Mishon Welton Limited)
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 5
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.

1.8
Equity instruments

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.

1.9
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.

Mishons Limited
(formerly Mishon Welton Limited)
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 6
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

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

2025
2024
Number
Number
Total
4
4
Mishons Limited
(formerly Mishon Welton Limited)
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 7
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2025
18,510
105,211
123,721
Additions
-
0
2,767
2,767
At 31 December 2025
18,510
107,978
126,488
Depreciation and impairment
At 1 January 2025
18,510
64,534
83,044
Depreciation charged in the year
-
0
18,357
18,357
At 31 December 2025
18,510
82,891
101,401
Carrying amount
At 31 December 2025
-
0
25,087
25,087
At 31 December 2024
-
0
40,677
40,677
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
40,050
30,367
Amounts owed by group undertakings
106,585
77,519
Other debtors
12,805
1,913
Prepayments and accrued income
12,240
10,497
171,680
120,296
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
4,637
10,076
Trade creditors
10,853
21,446
Amounts owed to group undertakings
242,718
289,719
Corporation tax
25,886
-
0
Other taxation and social security
26,806
15,244
Other creditors
5,545
5,640
Accruals and deferred income
2,500
4,319
318,945
346,444
Mishons Limited
(formerly Mishon Welton Limited)
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
5
Creditors: amounts falling due within one year
(Continued)
Page 8

Bank loans balance of £4,637 represent a loan obtained under the Government guaranteed Bounce Back Loan Scheme.

6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
18,340
17,419

Bank loans balance of £18,340 represent a loan obtained under the Government guaranteed Bounce Back Loan Scheme.

7
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
3,594
1,906

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

The balance outstanding at the year end in respect of defined contribution schemes was £545 (20 2 4: £605).

8
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
98 Ordinary shares of £1 each
98
98
1 Ordinary A share of £1 each
1
1
1 Ordinary B share of £1 each
1
1
100
100
9
Events after the reporting date

On 05 March 202 6 the company name was changed to Mishons Limited from Mishon Welton Limited.

10
Parent company

The company's ultimate parent company is RJ Property Group Holdings Limited, a company registered in England and Wales.

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