REGISTERED NUMBER: 15080605 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

MP BOND STREET LTD

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Income Statement

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Financial Statements

8

DIRECTORS:

V Hariharan

P K Mistry

M K Mistry

N Saujani

REGISTERED OFFICE:

7 St. John's Road

Harrow

HA1 2EY

REGISTERED NUMBER:

15080605 (England and Wales)

SENIOR STATUTORY AUDITOR:

Shailesh Patel

AUDITORS:

MCA Audit Limited

7 St John's Road

Harrow

HA1 2EY

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of other letting and operating of own or leased real estate

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

V Hariharan

P K Mistry

M K Mistry

N Saujani

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, MCA Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

N Saujani - Director

18 August 2026

Opinion

We have audited the financial statements of MP Bond Street Ltd (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, key drivers for directors’ remuneration, bonus levels and performance targets;

- results of our enquiries of management about their own identification and assessment of the risks of irregularities;

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Shailesh Patel (Senior Statutory Auditor)

for and on behalf of MCA Audit Limited

7 St John's Road

Harrow

HA1 2EY

19 August 2026

MCA Audit Limited

TURNOVER

3

55,567

60,880

Administrative expenses

123,943

72,045

OPERATING LOSS

(68,376

)

(11,165

)

Interest receivable and similar income

-

11,358

(68,376

)

193

Gain/loss on revaluation of investments

-

(864,813

)

(68,376

)

(864,620

)

Interest payable and similar expenses

-

57

LOSS BEFORE TAXATION

(68,376

)

(864,677

)

Tax on loss

-

19

LOSS FOR THE FINANCIAL YEAR

(68,376

)

(864,696

)

FIXED ASSETS

Investment property

5

11,076,583

11,050,000

CURRENT ASSETS

Debtors

6

3,013,848

3,035,994

Cash at bank

1,948

126,651

3,015,796

3,162,645

CREDITORS

Amounts falling due within one year

7

25,451

77,341

NET CURRENT ASSETS

2,990,345

3,085,304

TOTAL ASSETS LESS CURRENT LIABILITIES

14,066,928

14,135,304

CAPITAL AND RESERVES

Called up share capital

15,000,000

15,000,000

Retained earnings

(933,072

)

(864,696

)

SHAREHOLDERS' FUNDS

14,066,928

14,135,304

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

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2026 and were signed on its behalf by:

N Saujani - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

15,000,000

-

15,000,000

Total comprehensive income

-

(864,696

)

(864,696

)

Balance at 31 December 2024

15,000,000

(864,696

)

14,135,304

Changes in equity

Total comprehensive income

-

(68,376

)

(68,376

)

Balance at 31 December 2025

15,000,000

(933,072

)

14,066,928

1.	STATUTORY INFORMATION

MP Bond Street Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

The company is a small company as defined by section 382 of the Companies Act 2006 and has applied the small companies regime in preparing these financial statements.

The presentation currency is the Pound Sterling (£), and the figures in the financial statements have been rounded to the nearest Pound Sterling (£).

Investment property

Investment property is initially recognised at cost and subsequently measured at fair value at each reporting date in accordance with the provision of Section 1A of FRS 102 and are not depreciated. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised in the Company's balance sheet when the Company becomes a party to the contractual provisions of the instrument.

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.

3.

TURNOVER

Turnover represents rental income receivable arising in the ordinary course of the company’s property letting activities, net of Value Added Tax , rent-free incentives, rebates, discounts, and any other amounts written off or not recoverable. Revenue is recognised on an accruals basis over the period to which the rental income relates.

During the financial year, the company recognised turnover of £55,567 (2024: £60,880).

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 4).

No remuneration, benefits, advances or credits were granted to the directors during the year (2024: £nil).

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

11,050,000

Additions

26,583

At 31 December 2025

11,076,583

NET BOOK VALUE

At 31 December 2025

11,076,583

At 31 December 2024

11,050,000

The investment property market value as at 31 December 2025 was £11,076,583 based on directors assessment.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Unpaid share capital

3,000,000

3,000,000

VAT

10,746

29,583

Prepayments and accrued income

3,102

6,411

3,013,848

3,035,994

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

-

58,948

Corporation Tax payable

-

19

Other creditors

10,124

10,124

Accrued expenses

15,327

8,250

25,451

77,341

8.	RELATED PARTY DISCLOSURES

Included within debtors is a balance of £3,000,000 due from M Pallonji Logistics Private Limited, a company incorporated in India and related by virtue of common directorship. The balance represents unpaid share capital outstanding at the reporting date.

9.	GOING CONCERN

The financial statements have been prepared on the going concern basis. The directors have assessed the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements.

As at 31 December 2025, the company held cash balances of £1,948 and had net current assets of £2,990,345. Included within debtors is £3,000,000 of unpaid share capital due from the company's immediate parent undertaking. Subsequent to the year end, £1,500,000 of this balance was received.

Having considered the financial resources available to the company and the financial support available from its parent undertaking, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.

10.	POST BALANCE SHEET EVENTS

Subsequent to the year end, in January 2026, the company received £1,500,000 of the £3,000,000 outstanding as at 31 December 2025.

11.	ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate controlling party is M Pallonji Logistics Private Limited, company based in India owning 100% issued share capital by virtue of common directorship of Mr Pheroze Kersasp Mistry and Mr Mehli Kersasp Mistry.