Caseware UK (AP4) 2022.0.179 2022.0.179 false2022-02-01No description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10890477 2022-02-01 2023-01-31 10890477 2021-02-01 2022-01-31 10890477 2023-01-31 10890477 2022-01-31 10890477 c:Director1 2022-02-01 2023-01-31 10890477 d:CurrentFinancialInstruments 2023-01-31 10890477 d:CurrentFinancialInstruments 2022-01-31 10890477 d:Non-currentFinancialInstruments 2023-01-31 10890477 d:Non-currentFinancialInstruments 2022-01-31 10890477 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 10890477 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 10890477 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 10890477 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 10890477 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 10890477 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 10890477 d:ShareCapital 2023-01-31 10890477 d:ShareCapital 2022-01-31 10890477 d:RetainedEarningsAccumulatedLosses 2023-01-31 10890477 d:RetainedEarningsAccumulatedLosses 2022-01-31 10890477 c:OrdinaryShareClass1 2022-02-01 2023-01-31 10890477 c:OrdinaryShareClass1 2023-01-31 10890477 c:OrdinaryShareClass1 2022-01-31 10890477 c:OrdinaryShareClass2 2022-02-01 2023-01-31 10890477 c:OrdinaryShareClass2 2023-01-31 10890477 c:OrdinaryShareClass2 2022-01-31 10890477 c:FRS102 2022-02-01 2023-01-31 10890477 c:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 10890477 c:FullAccounts 2022-02-01 2023-01-31 10890477 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 10890477 d:Subsidiary1 2022-02-01 2023-01-31 10890477 d:Subsidiary1 1 2022-02-01 2023-01-31 10890477 6 2022-02-01 2023-01-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10890477










Myatt Holdings Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 January 2023

 
Myatt Holdings Ltd
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Myatt Holdings Ltd for the year ended 31 January 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Myatt Holdings Ltd for the year ended 31 January 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Myatt Holdings Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Myatt Holdings Ltd  and state those matters that we have agreed to state to the Board of directors of Myatt Holdings Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Myatt Holdings Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Myatt Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Myatt Holdings Ltd. You consider that Myatt Holdings Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Myatt Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Montague Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
13 October 2023
Page 1

 
Myatt Holdings Ltd
Registered number: 10890477

Balance sheet
As at 31 January 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1,232,035
1,232,035

Current assets
  

Debtors: amounts falling due within one year
 5 
22,613
22,613

Bank and cash balances
  
179
2,013

  
22,792
24,626

Creditors: amounts falling due within one year
 6 
(84,820)
(74,654)

Net current liabilities
  
 
 
(62,028)
 
 
(50,028)

Total assets less current liabilities
  
1,170,007
1,182,007

Creditors: amounts falling due after more than one year
 7 
(788,306)
(842,561)

  

Net assets
  
381,701
339,446


Capital and reserves
  

Called up share capital 
 9 
294,100
294,100

Profit and loss account
  
87,601
45,346

  
381,701
339,446


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 income and retained earnings 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 on 11 October 2023.



J P G Myatt
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
Myatt Holdings Ltd
 

 
Notes to the financial statements
For the year ended 31 January 2023

1.


General information

Myatt Holdings Ltd ("the company") is a private company limited by shares and is incorporated in England and Wales with the registration number 10890477. The address of the registered office is Montague Place, Quayside, Chatham, Kent, ME4 4QU.

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

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet 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 balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
Myatt Holdings Ltd
 

 
Notes to the financial statements
For the year ended 31 January 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

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


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 February 2022
1,232,035



At 31 January 2023
1,232,035




Page 4

 
Myatt Holdings Ltd
 

 
Notes to the financial statements
For the year ended 31 January 2023

Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

Mockbeggar Developments Limited
Ordinary
100%

The aggregate of the share capital and reserves as at 31 January 2023 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

Mockbeggar Developments Limited
708,344
50,312


5.


Debtors

2023
2022
£
£


Other debtors
22,513
22,513

Called up share capital not paid
100
100

22,613
22,613



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
38,877
37,808

Trade creditors
5,672
3,240

Amounts owed to group undertakings
29,900
29,900

Other creditors
760
466

Accruals and deferred income
9,611
3,240

84,820
74,654



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
788,306
842,561


Page 5

 
Myatt Holdings Ltd
 

 
Notes to the financial statements
For the year ended 31 January 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
38,877
37,808


Amounts falling due 2-5 years

Bank loans
788,306
842,561


827,183
880,369



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares shares of £1.00 each
100
100
294,000 (2022 - 294,000) Preference shares shares of £1.00 each
294,000
294,000

294,100

294,100



10.


Related party transactions

J Myatt & Co is a related party of Myatt Holdings Ltd as J P G Myatt is a partner of J Myatt & Co and director of Myatt Holdings Ltd. At the balance sheet date J Myatt & Co owed Myatt Holdings Ltd £22,500 (2022 - £22,513). This is an interest free loan to J Myatt & Co and is repayable on demand.
Myatt Holdings Ltd owed its subsidiary company Mockbeggar Developments Limited £29,900 (2022 - £29,900) at the balance sheet date. This is an interest free loan from Mockbeggar Developments Limited and is repayable on demand.


Page 6