Company No: SC603794 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	0		822
		0		822
Current assets
Stocks		0		3,563,742
Debtors	4	9,858		6,444,802
Cash at bank and in hand		117,578		90,690
		127,436		10,099,234
Creditors: amounts falling due within one year	5	( 384,733)		( 9,965,685)
Net current (liabilities)/assets		(257,297)		133,549
Total assets less current liabilities		(257,297)		134,371
Net (liabilities)/assets		( 257,297)		134,371
Capital and reserves
Called-up share capital	6	2		2
Profit and loss account		( 257,299 )		134,369
Total shareholders' (deficit)/funds		( 257,297)		134,371

For the financial year ending 31 August 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 Mansion Kingdom Homes Limited (registered number: SC603794) were approved and authorised for issue by the Board of Directors on 26 August 2026. They were signed on its behalf by:

Mr S McCann 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

Mansion Kingdom Homes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael, 227 West George Street, Glasgow, G2 2ND, Scotland, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £257,297. The Company is supported through loans from the Associated Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Associated Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised at legal completion in respect of the the total proceeds received for the sale of property.

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, net of depreciation. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc.

4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Stocks

Stocks are stated at the lower of cost net realisable value.

Stocks include raw materials for the construction of homes and work in progress which consists of the cost of development land, direct materials, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Net realisable value is based on estimated selling price less anticipated costs to completion and disposal.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from connected companies, are recognised at transaction price.

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.

2. Employees

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

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 September 2024	5,640		5,640
Disposals	( 5,640)		( 5,640)
At 31 August 2025	0		0
Accumulated depreciation
At 01 September 2024	4,818		4,818
Charge for the financial year	822		822
Disposals	( 5,640)		( 5,640)
At 31 August 2025	0		0
Net book value
At 31 August 2025	0		0
At 31 August 2024	822		822

4. Debtors

	2025		2024
	£		£
Amounts owed by related parties	0		6,433,989
Other debtors	9,858		10,813
	9,858		6,444,802

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	0		95,255
Amounts owed to related parties	23,562		9,815,384
Taxation and social security	840		40,093
Other creditors	360,331		14,953
	384,733		9,965,685

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1 A ordinary share of £ 1.00	1		1
1 B ordinary share of £ 1.00	1		1
	2		2

7. Related party transactions

Other related party transactions

	2025		2024
	£		£
Amounts owed to related parties	23,562		9,815,384
Amounts owed from related parties	0		6,433,989

All loans with related parties are unsecured, interest free and have no fixed terms of repayment.