Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31trueNo description of principal activity2022-04-01false22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10036988 2022-04-01 2023-03-31 10036988 2021-04-01 2022-03-31 10036988 2023-03-31 10036988 2022-03-31 10036988 c:Director1 2022-04-01 2023-03-31 10036988 d:FreeholdInvestmentProperty 2023-03-31 10036988 d:FreeholdInvestmentProperty 2022-03-31 10036988 d:CurrentFinancialInstruments 2023-03-31 10036988 d:CurrentFinancialInstruments 2022-03-31 10036988 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10036988 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10036988 d:ShareCapital 2023-03-31 10036988 d:ShareCapital 2022-03-31 10036988 d:RetainedEarningsAccumulatedLosses 2023-03-31 10036988 d:RetainedEarningsAccumulatedLosses 2022-03-31 10036988 c:FRS102 2022-04-01 2023-03-31 10036988 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10036988 c:FullAccounts 2022-04-01 2023-03-31 10036988 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10036988 2 2022-04-01 2023-03-31 10036988 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 10036988









MA'AM INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
MA'AM INVESTMENTS LIMITED
REGISTERED NUMBER: 10036988

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
250,000
650,000

Investment property
 6 
2,708,213
2,708,213

  
2,958,213
3,358,213

Current assets
  

Debtors: amounts falling due within one year
 7 
3,339,861
2,768,352

Cash at bank and in hand
 8 
26,941
3,085,907

  
3,366,802
5,854,259

Creditors: amounts falling due within one year
 9 
(5,038,276)
(8,083,512)

Net current liabilities
  
 
 
(1,671,474)
 
 
(2,229,253)

Total assets less current liabilities
  
1,286,739
1,128,960

  

Net assets
  
1,286,739
1,128,960


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
1,286,738
1,128,959

  
1,286,739
1,128,960


Page 1

 
MA'AM INVESTMENTS LIMITED
REGISTERED NUMBER: 10036988
    
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 H Clements
Director

Date: 27 January 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MA'AM INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Ma'am Investments Limited is a private company limited by shares and incorporated in England (registered number 10036988). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the company. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
MA'AM INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

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.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors 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.

 
2.7

Valuation of investments

Fixed asset investments are stated at cost less provisions for diminution in value.

 
2.8

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.

 
2.9

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.

 
2.10

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 4

 
MA'AM INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2, management is required to make judgments, estimates and assumptions about the carrying values of assets and the liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revisions affect only that period, or in the period of the revisions and future periods if the revision affects both current and future periods.
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.
Valuation of investment properties
As described in the notes to the financial statements, investment properties are stated at fair value based on the valuation by the director. The valuer used observable market prices adjusted as necessary for any difference in the nature, location or condition of the specific asset.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 April 2022
650,000


Disposals
(400,000)



At 31 March 2023
250,000




Page 5

 
MA'AM INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
2,708,213



At 31 March 2023
2,708,213

The 2023 valuations were made by the Directors, on an open market value for existing use basis.



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
2,708,213
2,708,213

2,708,213
2,708,213


7.


Debtors

2023
2022
£
£


Other debtors
3,183,106
2,701,971

Prepayments and accrued income
156,755
66,381

3,339,861
2,768,352



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
26,941
3,085,907

26,941
3,085,907


Page 6

 
MA'AM INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
52,017
59,456

Other taxation and social security
10,127
8,557

Other creditors
4,912,316
7,951,683

Accruals and deferred income
63,816
63,816

5,038,276
8,083,512



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £80,000 (2022: Nil).

 
Page 7