for the Period Ended 31 December 2022
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2022
Principal activities of the company
Additional information
Results and dividendsThe loss for the year, after taxation, amounted to £1,200,292 (2021 - loss £184,288).The directors do not recommend payment of a dividend for the year (2021 - £Nil).Qualifying third party indemnity provisionsThe company has put in place qualifying third party indemnity provisions for all of the directors of the companyand these were in force at the date of approval of this report.Going concernThe directors are confident that the company has adequate resources to continue in operation for theforeseeable future and for at least one year from the date of signing these financial statements. The businessmodel of the group in which the company is a part of is dependent on returns made by subsidiary undertaking,Medius Software Limited.The directors after making enquiries, are comfortable that the company will be able to meet its liabilities as theyfall due and have a reasonable expectation that the company has adequate resources to continue in operationalexistence for the foreseeable future. Accordingly, they continue to prepare the financial statements on a goingconcern basis.The directors of Mefla 1 AB, confirm their intention to provide financial support to Mefla UK Limited and itssubsidiaries for a period of at least 12 months from signing of the Mefla UK Limited and subsidiary companies’financial statements for the year ended 31 December 2022.Financial support shall be defined as providing such funding as necessary to support the trading operations ofthe Company and its subsidiaries, together with the repayment of any intercompany debts. Further, the directorsconfirmed that should Mefla UK Limited and subsidiaries do not generate sufficient cash flows to servicerepayment of its borrowing facilities, Mefla 1 AB will make necessary funds available in order to satisfy thescheduled repayments.Matters covered in the Strategic ReportDisclosures required under S416(4) of the Companies Act 2006 are commented upon in the strategic report asthe directors consider them to be of strategic importance to the companyDisclosure of information to auditorEach of the persons who are directors at the time when this directors' report is approved has confirmed that:- so far as the director is aware, there is no relevant audit information of which the company's auditor isunaware; and- the director has taken all the steps that ought to have been taken as a director in order to be aware of anyrelevant audit information and to establish that the company's auditor is aware of that information.AuditorThe auditor, BDO LLP , will be proposed for reappointment in accordance with section 485 of the CompaniesAct 2006.
Directors
The directors shown below have held office during the whole of the period from
1 January 2022 to 31 December 2022
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2022 | 2021 | |
---|---|---|
| £ | £ |
Administrative expenses: | | |
Operating profit(or loss): | | |
Interest receivable and similar income: | | |
Interest payable and similar charges: | ( | ( |
Profit(or loss) before tax: | ( | ( |
Tax: | | ( |
Profit(or loss) for the financial year: | ( | ( |
As at
Notes | 2022 | 2021 | |
---|---|---|---|
| £ | £ | |
Fixed assets | |||
Investments: | 3 | | |
Total fixed assets: | | | |
Current assets | |||
Debtors: | 4 | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 5 | ( | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Creditors: amounts falling due after more than one year: | 6 | ( | ( |
Total net assets (liabilities): | | | |
Capital and reserves | |||
Called up share capital: | | | |
Profit and loss account: | ( | ( | |
Total Shareholders' funds: | | |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2022
Basis of measurement and preparation
Intangible fixed assets amortisation policy
Valuation information and policy
Other accounting policies
for the Period Ended 31 December 2022
2022 | 2021 | |
---|---|---|
Average number of employees during the period | | |
for the Period Ended 31 December 2022
Investments in subsidiary companies (£)Cost and net book value At 1 January 2022 and 31 December 2022 24,929,674Subsidiary undertakingsThe following were subsidiary undertakings of the company:Name; Principal activity; Class of shares HoldingHive Topco Limited Holding company Ordinary 100%Hive Bidco Limited * Holding company Ordinary 100%Medius Software Limited ** Software provider Ordinary 100%The registered office of all companies is Grafton House, Grafton Street, Hyde, Cheshire, United Kingdom, SK14 2AX.* Hive Bidco Limited is a subsidiary of Hive Topco Limited.** Medius Software Limited is a subsidiary undertaking of Hive Bidco Limited.
for the Period Ended 31 December 2022
2022 | 2021 | |
---|---|---|
£ | £ | |
Trade debtors | | |
Other debtors | | |
Total | | |
Debtors due after more than one year: | | |
for the Period Ended 31 December 2022
2022 | 2021 | |
---|---|---|
£ | £ | |
Bank loans and overdrafts | | |
Trade creditors | | |
Taxation and social security | | |
Accruals and deferred income | | |
Total | | |
for the Period Ended 31 December 2022
2022 | 2021 | |
---|---|---|
£ | £ | |
Bank loans and overdrafts | | |
Total | | |
for the Period Ended 31 December 2022