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

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

Anglo-European Developments GB Limited is a private company limited by shares incorporated in England and Wales. The registered office is Winston House, Dollis Park, Finchley, London, England, N3 1HF.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts 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.

After considering the company's prospects, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.true

Turnover represents rents receivable for the year from investments properties and other income receivable from lessees, net of VAT.

Investment property is included at fair value as determined by the director. Revaluation surpluses or deficits are recognised in the income statement. Deferred tax is provided on those gains at the rate expected to apply when the property is sold.

The investment property is stated at fair value based on the valuation performed by the director who is experienced in property investment and has a good knowledge of the location and type of property owned. The valuation reflects observable market prices, if available, condition of the property, and likely income from the asset.

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.

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, 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.

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 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 payments 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. Amounts 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.

The 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 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 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.

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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

Joint property participants have 65% interest in the income or losses from the properties. The investment properties were revalued on an open market basis by the directors and internal consultants (qualified accountants) of the company on a yield basis as at the year end. The historical cost of the property is £l,096,917 (2025: £l,083,844).

Despite the demise of Peter Murphy, control of the project remains in the hands of the Company and its immediate parent, MFC Estates PLC. The property asset, where the equity interest held by the company is 35%, is included at its full value in the accounts with the respective joint venturer share shown as part of creditors.

Included within creditors are amounts owed to joint participants who have a 65% share of interest in the gains/losses from the properties. The share of loss for the year (excluding share of unrealised fair value gains/losses) was £1,762 (2025: £16,024). Amounts owed to joint participants as at the year end was £1,865,181 (2025: £1,781,144).

The company has recognised a provision in accordance with Section 21 of FRS 102, where it is probable that an outflow of economic benefits will be required to settle an obligation arising from a potential future profit distribution from the sale of the investment property.

The following are the major deferred tax liabilities and assets recognised by the company:

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 March 2026 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.

Emphasis of matter

We would draw your attention to note 6 in the financial statements which indicates that the investment properties for the year ended 31 March 2026 have been revalued on an open market basis by the directors and internal consultants of the company on a yield basis. Adjustments to the financial statements would arise if property values were to differ materially from that disclosed in the financial statements. Our opinion is not modified in respect of this matter.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group

During the year the company entered into the following transactions with related parties:

The share of profit/(loss) attributable to joint property participants includes loss £949 (2025: £8,628) allocated to Mountheed Limited, loss £136 (2025: £1,233) allocated to Reachdrum Limited, loss of £54 (2025: £493) allocated to M 25 Group Limited and loss of £108 (2025: £986) allocated to PLM Children's Trust.

Included within creditors under amounts due to joint property participants are sums of £1,029,787 (2025: £949,836) due to Mountheed Limited, £136,876 (2025: £137,012) due to Reachdrum Limited, £64,735 (2025: £59,889) due to M 25 Group Ltd and £100,985 (2025: £101,093) due to PLM Children's Trust.

Mountheed Limited is a wholly owned subsidiary of M 25 Group Limited, which in tum is a wholly owned subsidiary of Enterprise Properties Limited. The share capital of Enterprise Properties Limited is 50.3% owned by the estate of the Late P L Murphy and 49.7% owned by PLM Children's Trust. The Late P L Murphy was the settlor and a trustee of PLM Children's Trust. Reachdrum Limited is under the control of M Slane, a director of the parent company, MFC Estates plc.

The company is a wholly owned subsidiary of MFC Estates plc, a company registered in England and Wales. MFC Estates plc was under the control of P L Murphy until his demise on January 27th 2025. The new controlling party will be determined when Probate is granted.