Company No: 06522503 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2026		2025
		€		€
Fixed assets
Tangible assets	3	241,359		248,410
Investments	4	1,366,065		1,587,858
		1,607,424		1,836,268
Current assets
Debtors	5	0		14,925
Cash at bank and in hand		2,585,436		2,379,260
		2,585,436		2,394,185
Creditors: amounts falling due within one year	6	( 183,051)		( 184,905)
Net current assets		2,402,385		2,209,280
Total assets less current liabilities		4,009,809		4,045,548
Net assets		4,009,809		4,045,548
Capital and reserves
Called-up share capital	7	1		1
Profit and loss account		4,009,808		4,045,547
Total shareholder's funds		4,009,809		4,045,548

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Mazal E&Y Limited (registered number: 06522503) were approved and authorised for issue by the Director. They were signed on its behalf by:

E J Bouanich Director

14 October 2026

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

Mazal E&Y Limited (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 EUR which is the functional currency of the company and rounded to the nearest €.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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 reporting date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the reporting date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the reporting date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 reporting date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Fixtures and fittings	3 years straight line
Computer equipment	3 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 reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments held as fixed assets are shown at cost less provision for impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are
recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for
the period.

Cash and cash equivalents

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 creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the company during the year, including the director	1		1

3. Tangible assets

	Land and buildings		Fixtures and fittings		Computer equipment		Total
	€		€		€		€
Cost
At 01 April 2025	517,999		60,752		4,046		582,797
Additions	0		2,577		1,298		3,875
At 31 March 2026	517,999		63,329		5,344		586,672
Accumulated depreciation
At 01 April 2025	269,589		60,752		4,046		334,387
Charge for the financial year	10,246		501		179		10,926
At 31 March 2026	279,835		61,253		4,225		345,313
Net book value
At 31 March 2026	238,164		2,076		1,119		241,359
At 31 March 2025	248,410		0		0		248,410

4. Fixed asset investments

	Listed investments		Other investments		Total
	€		€		€
Cost or valuation before impairment
At 01 April 2025	457,333		1,130,525		1,587,858
Additions	98,967		800,000		898,967
Disposals	( 300,000)		( 840,000)		( 1,140,000)
Revaluations	5,265		37,481		42,746
At 31 March 2026	261,565		1,128,006		1,389,571
Provisions for impairment
At 01 April 2025	0		0		0
Impairment	0		23,506		23,506
At 31 March 2026	0		23,506		23,506
Carrying value at 31 March 2026	261,565		1,104,500		1,366,065
Carrying value at 31 March 2025	457,333		1,130,525		1,587,858

5. Debtors

	2026		2025
	€		€
Other debtors	0		14,925

6. Creditors: amounts falling due within one year

	2026		2025
	€		€
Trade creditors	1,260		4,800
Accruals	6,193		4,920
Other creditors	175,598		175,185
	183,051		184,905

7. Called-up share capital

	2026		2025
	€		€
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

8. Related party transactions

Included within other creditors is a balance of €169,892 (2025: €175,185) owed to the director, for expenditure incurred on behalf of the company. This balance is unsecured and interest free, with no fixed repayment terms.