Margate Property Investment Group Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

1.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis.

At 30 November 2025, the company had net assets of £1,108,549 and net current liabilities of £31,566. The directors have considered the company’s financial position, expected rental income and the recoverability of amounts due from the director and companies under common control.

Current liabilities include £770,222 due to companies under common control. The relevant companies have confirmed that they will not seek repayment to the extent that doing so would prevent the company from meeting its liabilities as they fall due.

The directors therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and continue to adopt the going concern basis.

1.3. Turnover

Rental Income

Rental income arising from investment properties is recognised on a straight-line basis over the period of the lease to which it relates.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

1.5. Investment Properties

Investment properties are carried at fair value at each reporting date. Fair value is determined annually, based on current market rents and investment yields for comparable properties, adjusted where necessary for differences in the nature, location or condition of the asset.

No depreciation is provided in respect of investment properties. Changes in fair value are recognised in the profit and loss account for the period in which they arise.

A separate non-distributable reserve is maintained to reflect unrealised gains on investment properties. This reserve is ring-fenced from distribution.

Deferred taxation is recognised at each valuation date, measured on the basis of the tax consequences that would follow from the manner in which the Company expects to recover or settle the carrying amounts of its assets and liabilities.

1.6. Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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. This is generally for accelerated capital allowances.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 2 (2024: 2)

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Margate Property Investment Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

3. Investment Property

	Investment Properties
	£
Cost
As at 1 December 2024	2,200,000

As at 30 November 2025	2,200,000

Net Book Value
As at 30 November 2025	2,200,000

As at 1 December 2024	2,200,000

4. Debtors

	2025	2024
	£	£
Due within one year
Amounts owed by participating interests	281,567	33,534
Other debtors	460,303	421,881

	741,870	455,415
Due after more than one year
Amounts owed by participating interests	-	264,704
Other debtors	148,413	148,413

	148,413	413,117

	890,283	868,532

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Amounts owed to participating interests	770,222	770,222
Other creditors	25,942	12,627
Taxation and social security	125,685	154,695

	921,849	937,544

6. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	747,500	747,500

	747,500	747,500

7. Secured Creditors

Of the creditors the following amounts are secured.

	2025		2024
	£		£
Bank loans and overdrafts	747,500		747,500

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Margate Property Investment Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

8. Deferred Taxation

The deferred tax provision arises from taxable timing differences relating to the fair value measurement of investment properties.

Deferred taxation is recognised at each valuation period based on measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

	2025	2024
	£	£
Deferred Tax	312,385	312,385

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1,000	1,000

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 December 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 November 2025
	£	£	£	£	£
Mr Richard Criss	417,596	15,660	-	-	433,256

At the year end, the loan account with director Mr. Richard Criss was overdrawn by £433,256 (2024: £417,596). The highest balance outstanding during the year was £433,256 (2024: £476,263). Interest is charged on the overdrawn balance in line with HMRC’s official rate of interest; during the year interest of £15,660 (2024: £11,035) was charged at a rate of 3.75%. No formal repayment strategy has been agreed in respect of this loan. The loan is unsecured and repayable on demand.

Interest was charged on the outstanding balance at a rate of 3.75%. Interest charged during the year amounted to £15,660 (2024: £11,035) and was added to the loan account.

11. Reserves

	Revaluation Reserve
	£
As at 1 December 2024	937,168

As at 30 November 2025	937,168

The revaluation reserve represents cumulative unrealised gains arising from the fair-value measurement of investment properties.

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Margate Property Investment Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

12. Related Party Transactions

Other related party balances at the year end were as follows:

During the year, the company entered into transactions with companies under common control by virtue of common ultimate ownership and common directors.

At 30 November 2025, amounts due from companies under common control totalled £296,567 (2024: £268,238).

At 30 November 2025, amounts due to companies under common control totalled £770,222 (2024: £770,222).

There are no formal loan agreements in respect of these balances. Accordingly, the balances are unsecured, interest-free, repayable on demand and classified as falling due within one year. No guarantees have been given or received.

During the year, the net amount due from companies under common control increased by £28,329. Amounts due to companies under common control remained unchanged.

The directors have assessed the recoverability of amounts due from companies under common control and consider that no impairment provision is required at the reporting date.

Details of the loan to a director are disclosed separately in note 10.

13. Controlling Party

The company's controlling party is The Castle Collection Limited by virtue of ownership of 79% of the issued share capital in the company.

14. General Information

Margate Property Investment Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13019997 . The registered office is 85 Great Portland Street, London, W1W 7LT.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Property	3		2,200,000		2,200,000

			2,200,000		2,200,000
CURRENT ASSETS
Debtors	4	890,283		868,532

		890,283		868,532
Creditors: Amounts Falling Due Within One Year	5	(921,849 )		(937,544 )

NET CURRENT ASSETS (LIABILITIES)			(31,566 )		(69,012 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2,168,434		2,130,988

Creditors: Amounts Falling Due After More Than One Year	6		(747,500 )		(747,500 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	8		(312,385 )		(312,385 )

NET ASSETS			1,108,549		1,071,103

CAPITAL AND RESERVES
Called up share capital	9		1,000		1,000
Revaluation reserve	11		937,168		937,168
Profit and Loss Account			170,381		132,935

SHAREHOLDERS' FUNDS			1,108,549		1,071,103