REGISTERED NUMBER: 08819508 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 202

FOR

MIDAS LAND LIMITED

Page

Company Information

1

Report of the Directors

2

Consolidated Income Statement

3

Consolidated Balance Sheet

4

Company Balance Sheet

6

Notes to the Consolidated Financial Statements

8

DIRECTORS:

Y A Bux

P L Waring

REGISTERED OFFICE:

Barton Hall

Garstang Road

Broughton

Preston

Lancashire

PR3 5BT

REGISTERED NUMBER:

08819508 (England and Wales)

ACCOUNTANTS:

JT2 Accountants

5 Crescent East

Thornton Cleveleys

Lancashire

FY5 3LJ

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of a property holding company.

DIRECTORS

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

Y A Bux

P L Waring

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:

Y A Bux - Director

23 September 2026

TURNOVER

178,117

200,000

Cost of sales

183,328

290,247

GROSS LOSS

(5,211

)

(90,247

)

Administrative expenses

7,668

(45,135

)

(12,879

)

(45,112

)

Other operating income

17,300

43,060

OPERATING PROFIT/(LOSS)

4

4,421

(2,052

)

Interest payable and similar expenses

1,007

692

PROFIT/(LOSS) BEFORE TAXATION

3,414

(2,744

)

Tax on profit/(loss)

319

850

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

3,095

(3,594

)

Profit/(loss) attributable to:

Owners of the parent

3,095

(3,594

)

FIXED ASSETS

Tangible assets

6

3,000

4,000

Investments

7

-

-

3,000

4,000

CURRENT ASSETS

Stocks

2,540,988

2,683,792

Debtors

8

772,872

999,185

Cash at bank and in hand

3,648

21,626

3,317,508

3,704,603

CREDITORS

Amounts falling due within one year

9

1,214,477

1,599,915

NET CURRENT ASSETS

2,103,031

2,104,688

TOTAL ASSETS LESS CURRENT LIABILITIES

2,106,031

2,108,688

CREDITORS

Amounts falling due after more than one year

10

(11,784

)

(17,287

)

PROVISIONS FOR LIABILITIES

(748

)

(997

)

NET ASSETS

2,093,499

2,090,404

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,093,497

2,090,402

SHAREHOLDERS' FUNDS

2,093,499

2,090,404

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

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 23 September 2026 and were signed on its behalf by:

Y A Bux - Director

FIXED ASSETS

Tangible assets

6

3,000

4,000

Investments

7

4

4

3,004

4,004

CURRENT ASSETS

Debtors

8

3,830,380

4,027,545

Cash at bank

1,419

683

3,831,799

4,028,228

CREDITORS

Amounts falling due within one year

9

1,188,371

1,553,298

NET CURRENT ASSETS

2,643,428

2,474,930

TOTAL ASSETS LESS CURRENT LIABILITIES

2,646,432

2,478,934

CREDITORS

Amounts falling due after more than one year

10

(11,784

)

(17,287

)

PROVISIONS FOR LIABILITIES

(748

)

(997

)

NET ASSETS

2,633,900

2,460,650

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,633,898

2,460,648

SHAREHOLDERS' FUNDS

2,633,900

2,460,650

Company's profit for the financial year

173,250

61,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 21 September 2026 and were signed on its behalf by:

Y A Bux - Director

1.	STATUTORY INFORMATION

Midas Land 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 General 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.

Related party exemption

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 20% on cost

Stocks and work-in-progress

Stocks are valued at the lower of cost and net realiseable value, after making due allowance for obsolete and slow moving items. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and applicable variable selling expenses. Work-in-progress in relation to a construction project, is valued at costs incurred to date plus recognised profits less recognised losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include investments, stock and work in progress, debtors, and bank balances, are initially measured at transaction price, and are subsequently carried at cost. Basic financial liabilities, which include creditors, loans and borrowings, are initially recognised at transaction price and are subsequently carried at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging:

31.12.25

31.12.24

£

£

Depreciation - owned assets

1,000

1,325

5.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

6.	TANGIBLE FIXED ASSETS

Group

Plant and

machinery

etc

£

COST

At 1 January 2025

and 31 December 2025

57,860

DEPRECIATION

At 1 January 2025

53,860

Charge for year

1,000

At 31 December 2025

54,860

NET BOOK VALUE

At 31 December 2025

3,000

At 31 December 2024

4,000

Company

Plant and

machinery

etc

£

COST

At 1 January 2025

and 31 December 2025

26,850

DEPRECIATION

At 1 January 2025

22,850

Charge for year

1,000

At 31 December 2025

23,850

NET BOOK VALUE

At 31 December 2025

3,000

At 31 December 2024

4,000

7.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1 January 2025

and 31 December 2025

4

NET BOOK VALUE

At 31 December 2025

4

At 31 December 2024

4

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

ML (Preston) Limited

Registered office: Barton Hall, Garstang Road, Broughton, Preston, PR3 5BT.

Nature of business: Property development

%

Class of shares:

holding

Ordinary

100.00

31.12.25

31.12.24

£

£

Aggregate capital and reserves

(285,485

)

(285,333

)

(Loss)/profit for the year

(152

)

323

Aurum Homes Limited

Registered office: Barton Hall, Garstang Road, Broughton, Preston, PR3 5BT.

Nature of business: Property development

%

Class of shares:

holding

Ordinary

100.00

31.12.25

31.12.24

£

£

Aggregate capital and reserves

45,382

52,551

Profit for the year

172,461

11,163

The Hub (NW) Limited

Registered office: Barton Hall, Garstang Road, Broughton, Preston, PR3 5BT.

Nature of business: property development

%

Class of shares:

holding

Ordinary

100.00

31.12.25

31.12.24

£

£

Aggregate capital and reserves

(71,559

)

(47,940

)

(Loss)/profit for the year

(23,619

)

61,515

Stoneygate Living Limited

Registered office: Barton Hall, Garstang Road, Broughton, Preston. PR3 5BT

Nature of business: property development

%

Class of shares:

holding

Ordinary

100.00

31.12.25

31.12.24

£

£

Aggregate capital and reserves

(228,735

)

(89,520

)

Loss for the year

(139,215

)

(122,974

)

Investments in subsidiary undertakings are recognised at cost.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.25

31.12.24

31.12.25

31.12.24

£

£

£

£

Trade debtors

931

-

-

-

Amounts owed by group undertakings

-

-

3,060,380

3,187,450

Amounts owed by participating interests

-

150,000

-

-

Other debtors

771,941

849,185

770,000

840,095

772,872

999,185

3,830,380

4,027,545

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.25

31.12.24

31.12.25

31.12.24

£

£

£

£

Bank loans and overdrafts

5,915

5,842

5,915

5,842

Trade creditors

47,472

67,397

22,456

22,456

Taxation and social security

1,089

1,676

-

-

Other creditors

1,160,001

1,525,000

1,160,000

1,525,000

1,214,477

1,599,915

1,188,371

1,553,298

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group

Company

31.12.25

31.12.24

31.12.25

31.12.24

£

£

£

£

Bank loans

11,784

17,287

11,784

17,287

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of the 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.

At the year end Midas Land Limited owed £580,000 (2024: £762,500) to Bux & Co Limited, a company controlled by one of its directors, Mr Y A Bux and his wife.

At the year end Midas Land Limited owed £580,000 (2024: £762,500) to Waring & Co Limited, a company controlled by one of its directors, Mr P L Waring and his sons.

12.	ULTIMATE CONTROLLING PARTY

The directors consider that there is no ultimate controlling party, as the company is owned equally between companies owned by each of the directors.