Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00164687 2022-04-01 2023-03-31 00164687 2021-04-01 2022-03-31 00164687 2023-03-31 00164687 2022-03-31 00164687 2021-04-01 00164687 1 2022-04-01 2023-03-31 00164687 1 2021-04-01 2022-03-31 00164687 d:Director1 2022-04-01 2023-03-31 00164687 d:Director3 2022-04-01 2023-03-31 00164687 d:RegisteredOffice 2022-04-01 2023-03-31 00164687 e:FreeholdInvestmentProperty 2023-03-31 00164687 e:FreeholdInvestmentProperty 2022-03-31 00164687 e:CurrentFinancialInstruments 2023-03-31 00164687 e:CurrentFinancialInstruments 2022-03-31 00164687 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 00164687 e:CurrentFinancialInstruments e:WithinOneYear 2022-03-31 00164687 e:ShareCapital 2022-04-01 2023-03-31 00164687 e:ShareCapital 2023-03-31 00164687 e:ShareCapital 2021-04-01 2022-03-31 00164687 e:ShareCapital 2022-03-31 00164687 e:ShareCapital 2021-04-01 00164687 e:InvestmentPropertiesRevaluationReserve 2022-04-01 2023-03-31 00164687 e:InvestmentPropertiesRevaluationReserve 2023-03-31 00164687 e:InvestmentPropertiesRevaluationReserve 1 2022-04-01 2023-03-31 00164687 e:InvestmentPropertiesRevaluationReserve 2021-04-01 2022-03-31 00164687 e:InvestmentPropertiesRevaluationReserve 2022-03-31 00164687 e:InvestmentPropertiesRevaluationReserve 2021-04-01 00164687 e:InvestmentPropertiesRevaluationReserve 1 2021-04-01 2022-03-31 00164687 e:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 00164687 e:RetainedEarningsAccumulatedLosses 2023-03-31 00164687 e:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 00164687 e:RetainedEarningsAccumulatedLosses 2022-03-31 00164687 e:RetainedEarningsAccumulatedLosses 2021-04-01 00164687 d:OrdinaryShareClass1 2022-04-01 2023-03-31 00164687 d:OrdinaryShareClass1 2023-03-31 00164687 d:OrdinaryShareClass1 2022-03-31 00164687 d:OrdinaryShareClass2 2022-04-01 2023-03-31 00164687 d:OrdinaryShareClass2 2023-03-31 00164687 d:OrdinaryShareClass2 2022-03-31 00164687 d:FRS102 2022-04-01 2023-03-31 00164687 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 00164687 d:FullAccounts 2022-04-01 2023-03-31 00164687 d:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00164687 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 00164687







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023


MIWA LIMITED






































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MIWA LIMITED
 


 
COMPANY INFORMATION


Directors
P Scacco 
M Cooper 




Registered number
00164687



Registered office
Unit 29
The Ridgeway

Iver

Buckinghamshire

SL0 9HX




Accountants
Menzies LLP

Centrum House

36 Station Road

Egham

Surrey

TW20 9LF





 


MIWA LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Statement of changes in equity
3 - 4
Notes to the financial statements
5 - 8


 


MIWA LIMITED
REGISTERED NUMBER:00164687



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
800,000
800,000

Investment property
 5 
6,845,500
6,845,500

  
7,645,500
7,645,500

Current assets
  

Debtors: amounts falling due within one year
 6 
4,097,155
4,726,485

Cash at bank and in hand
  
5,051,605
4,400,154

  
9,148,760
9,126,639

Creditors: amounts falling due within one year
 7 
(328,029)
(872,163)

Net current assets
  
 
 
8,820,731
 
 
8,254,476

Total assets less current liabilities
  
16,466,231
15,899,976

Provisions for liabilities
  

Deferred tax
  
(588,292)
(447,102)

  
 
 
(588,292)
 
 
(447,102)

Net assets
  
15,877,939
15,452,874


Capital and reserves
  

Called up share capital 
 8 
2,600,000
2,600,000

Investment property reserve
  
3,048,400
3,189,590

Profit and loss account
  
10,229,539
9,663,284

  
15,877,939
15,452,874


Page 1

 


MIWA LIMITED
REGISTERED NUMBER:00164687


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Scacco
Director

Date: 25 September 2023

The notes on pages 5 to 8 form part of these financial statements.

Page 2

 


MIWA LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
2,600,000
3,189,590
9,663,284
15,452,874


Comprehensive income for the year

Profit for the year

-
-
425,065
425,065


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
425,065
425,065

Transfer to/from profit and loss account
-
-
141,190
141,190

Transfer between other reserves
-
(141,190)
-
(141,190)


Total transactions with owners
-
(141,190)
141,190
-


At 31 March 2023
2,600,000
3,048,400
10,229,539
15,877,939


The notes on pages 5 to 8 form part of these financial statements.

Page 3

 


MIWA LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2021
2,600,000
5,847,792
5,826,161
14,273,953


Comprehensive income for the year

Profit for the year

-
-
1,178,921
1,178,921


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
1,178,921
1,178,921

Transfer to/from profit and loss account
-
-
2,658,202
2,658,202

Transfer between other reserves
-
(2,658,202)
-
(2,658,202)


Total transactions with owners
-
(2,658,202)
2,658,202
-


At 31 March 2022
2,600,000
3,189,590
9,663,284
15,452,874


The notes on pages 5 to 8 form part of these financial statements.

Page 4

 


MIWA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

MIWA Limited is a private company limited by shares incorporated in England and Wales. The address of the
registered office is disclosed on the company information page.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 5

 


MIWA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments represent a minority shareholding in a related party company measured at cost less accumalated impairment.

 
2.6

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.7

Financial instruments

The Company only enters into basic financial instrument 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 related parties and investments in ordinary shares.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2022
800,000



At 31 March 2023
800,000




Page 6

 


MIWA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
6,845,500



At 31 March 2023
6,845,500

The November 2021 valuations were made by Sedgwick International UK, on an open market value for existing use basis.
The directors consider that there has been no material change in the investment property values since the date of the last revaluations carried out, having considered recent market conditions, that the values at the year-end remain materially consistent.

2023
2022
£
£

Revaluation reserves


At 1 April 2022
3,189,590
5,847,792

Movement net of deferred tax
(141,190)
(2,658,202)

At 31 March 2023
3,048,400
3,189,590



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
3,208,808
3,208,808

3,208,808
3,208,808


6.


Debtors

2023
2022
£
£


Trade debtors
13,500
22,712

Amounts owed by group undertakings
500,000
500,000

Other debtors
3,580,422
4,200,739

Prepayments and accrued income
3,233
3,034

4,097,155
4,726,485


Page 7

 


MIWA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
10,593
4,131

Corporation tax
132,671
680,562

Other taxation and social security
29,765
29,970

Other creditors
141,500
141,500

Accruals and deferred income
13,500
16,000

328,029
872,163



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100,000 (2022 - 100,000) Ordinary shares of £1.00 each
100,000
100,000
2,500,000 (2022 - 2,500,000) Ordinary redeemable shares of £1.00 each
2,500,000
2,500,000

2,600,000

2,600,000



9.


Controlling party

The parent undertaking of the company is Lattice Holdings Limited, a company registered in Guernsey whose registered office is Granary House, The Grange, St Peter Port, Guernsey, GY1 2QG.

 
Page 8