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REGISTERED NUMBER: 10265491 (England and Wales)

| Financial Statements |

| for the Year Ended 30 September 2025 |

| for |

| Mandale Apartments 4 Limited |

| Mandale Apartments 4 Limited (Registered number: 10265491) |

Contents of the Financial Statements

for the Year Ended 30 September 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Mandale Apartments 4 Limited |

Company Information

for the Year Ended 30 September 2025

| DIRECTOR: | R T Harriman

| SECRETARIES: | Mrs P Davidson

| J Darragh

| REGISTERED OFFICE: | Mandale House Mandale Park

| Urlay Nook Road

| Eaglescliffe

| Stockton on Tees

| TS16 0TA

| REGISTERED NUMBER: | 10265491 (England and Wales)

| SENIOR STATUTORY AUDITOR: | David Shawcross FCA

| AUDITORS: | Anderson Barrowcliff Limited

| Statutory Auditors

| Chartered Accountants

| 3 Kingfisher Court

| Bowesfield Park

| Stockton on Tees

| TS18 3EX

| Mandale Apartments 4 Limited (Registered number: 10265491) |

Balance Sheet

30 September 2025

| 2025 |  | 2024

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 4 | 7,009,414 |  | 7,261,391 |  |

Cash at bank | 46,593 |  | 91,729 |  |

7,056,007 |  | 7,353,120 |  |

CREDITORS

Amounts falling due within one year | 5 | 2,142,074 |  | 2,434,966 |  |

NET CURRENT ASSETS | 4,913,933 |  | 4,918,154 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,913,933 |  | 4,918,154 |  |

CAPITAL AND RESERVES

Called up share capital | 6 | 1 |  | 1 |  |

Retained earnings | 4,913,932 |  | 4,918,153 |  |

SHAREHOLDERS' FUNDS | 4,913,933 |  | 4,918,154 |  |

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 director and authorised for issue on 13 August 2026 and were signed by:

R T Harriman - Director

| Mandale Apartments 4 Limited (Registered number: 10265491) |

Notes to the Financial Statements

for the Year Ended 30 September 2025

1. | STATUTORY INFORMATION

| Mandale Apartments 4 Limited 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.

| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

| 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.

| Debtors and creditors receivable/payable within one year

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss.

| Impairment

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

| Amounts recoverable on contracts

| Amounts recoverable on contracts are stated at cost plus attributable profit to the extent that such profit is reasonably certain and after making provision for any foreseeable losses in completing contracts, less payments on account received.

| Judgements and key sources of estimation uncertainty

| In the application of the company's accounting policies, which are described above, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

| Mandale Apartments 4 Limited (Registered number: 10265491) |

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

3. | EMPLOYEES AND DIRECTORS

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

4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other debtors | 28,254 |  | 28,254 |  |

| Owed from group undertakings | 6,523,992 |  | 6,777,338 |  |

| Owed from associated undertakings | 455,799 |  | 455,799 |  |

| VAT | 1,369 |  | - |  |

7,009,414 |  | 7,261,391 |  |

| As shown above, debtors include £6,979,791 (2024 : £7,233,137) owing from group and associated undertakings. Due to liquidity concerns within the property sector generally, and therefore within the group and associated debtor undertakings, the timescale for recovery of these debtor balances is unknown, but considered by the directors to be greater than one year for a significant proportion of this amount. There are no formal terms of repayment for these balances.

5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Owed to associated

| undertakings | 320,954 |  | 205,638 |  |

| Owed to group undertakings | 1,815,120 |  | 2,113,120 |  |

| Provisions | - |  | 110,208 |  |

| Accrued expenses | 6,000 |  | 6,000 |  |

2,142,074 |  | 2,434,966 |  |

| As shown above, creditors include £2,136,074 ( 2024 : £2,318,758) owing to group and associated undertakings. The company is dependent upon the support of its group and associated companies with regard to the timing of the payment of these group and associated company creditors. Given the liquidity concerns within the property sector generally, and therefore within the group and associated companies, the timescale for payment of these balances is unknown. There are no formal terms of payment for these group and associated company balances.

6. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 1 | Ordinary | £1 | 1 |  | 1 |  |

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

| The Report of the Auditors was unqualified.

| David Shawcross FCA (Senior Statutory Auditor)

| for and on behalf of Anderson Barrowcliff Limited

| Mandale Apartments 4 Limited (Registered number: 10265491) |

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

8. | CONTINGENT LIABILITIES

| In the year ended 30 September 2023 the company created a combustible materials provision. This provision is subject to the Director's estimates on costs and timing, and the existence and identification of legacy developments where the company may have an obligation to remediate or upgrade to meet new Government guidance where it is responsible to do so.

| The company and its associated companies (as defined in The Act) are no longer the freehold owner and have no visibility over remediation requirements. Due to the Building Safety Act 2022 (The Act) becoming law in April 2022, the limitation period in relation to defects was extended to 30 years for works completed before the change in the law and 15 years for these commenced after the new provisions. If the company responsible for the defects no longer exists, then the High Court can provide for a Building Liability Order whereby companies associated with the responsible company (as detailed in The Act) may be liable.

| Whilst the company believes that most significant liabilities will have been identified through the process of building owners assessing buildings, contingent liabilities exist where additional buildings have not yet been identified which require remediation. This may lead to liabilities for the company.

| Due to the enduring challenges of developing a reliable estimate of these possible costs, the company cannot disclose an expected range.

9. | RELATED PARTY DISCLOSURES

| During the year the company traded with the following related parties, and/or provided or received funds to be assisted with working capital requirements as necessary.

| Other related parties - group companies

|  | 2025 |  | 2024 |  |

| £ |  | £ |  |

| Net receipt of finance |  | 44,654 |  | (1,090,000 | ) |

| Balance at year end - creditor |  | (1,815,120 | ) | (2,113,120 | ) |

| Balance at year end - debtor |  | 6,523,992 |  | 6,777,338 |  |

| Other related parties - common control

|  | 2025 |  | 2024 |  |

| £ |  | £ |  |

| Wages/salaries recharged |  | - |  | (83,518 | ) |

| Net provision of finance |  | (115,316 | ) | 996,993 |  |

| Balance at year end - creditor |  | (320,954 | ) | (205,638 | ) |

| Balance at year end - debtor |  | 455,799 |  | 455,799 |  |

10. | POST BALANCE SHEET EVENTS

| After the year end, the directors declared dividends totalling £4,750,000 (2024: £Nil). These dividends have not been provided for in the financial statements as they were not declared until after the reporting date.

11. | PARENT UNDERTAKING

| The immediate and ultimate parent company is Mandale Homes Holdings Limited. These financial statements are included in the consolidated financial statements of Mandale Homes Holdings Limited. The parent's registered office address is the same as Mandale Apartments 4 Limited as detailed on the Company Information page.

| On 11th March 2026, subsequent to the reporting date, the ultimate parent company transferred to AG IOM Holdings 2026 Limited as part of a group reorganisation. This represents a non-adjusting event under FRS 102. The new ultimate parent undertaking is incorporated in Isle of Man.