Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-311No description of principal activity2022-08-19falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetruetrue 14306268 2022-08-18 14306268 2022-08-19 2023-08-31 14306268 2021-08-19 2022-08-18 14306268 2023-08-31 14306268 c:Director1 2022-08-19 2023-08-31 14306268 d:CurrentFinancialInstruments 2023-08-31 14306268 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 14306268 d:ShareCapital 2023-08-31 14306268 d:RetainedEarningsAccumulatedLosses 2023-08-31 14306268 c:OrdinaryShareClass1 2022-08-19 2023-08-31 14306268 c:OrdinaryShareClass1 2023-08-31 14306268 c:OrdinaryShareClass2 2022-08-19 2023-08-31 14306268 c:OrdinaryShareClass2 2023-08-31 14306268 c:OrdinaryShareClass3 2022-08-19 2023-08-31 14306268 c:OrdinaryShareClass3 2023-08-31 14306268 c:OrdinaryShareClass4 2022-08-19 2023-08-31 14306268 c:OrdinaryShareClass4 2023-08-31 14306268 c:FRS102 2022-08-19 2023-08-31 14306268 c:AuditExempt-NoAccountantsReport 2022-08-19 2023-08-31 14306268 c:FullAccounts 2022-08-19 2023-08-31 14306268 c:PrivateLimitedCompanyLtd 2022-08-19 2023-08-31 14306268 2 2022-08-19 2023-08-31 14306268 6 2022-08-19 2023-08-31 14306268 e:PoundSterling 2022-08-19 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14306268






MARELA INVESTMENTS LTD

UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 AUGUST 2023

 
MARELA INVESTMENTS LTD
REGISTERED NUMBER: 14306268

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
Note
£

Fixed assets
  

Investments
 4 
3,067,820

  
3,067,820

Current assets
  

Cash at bank and in hand
 5 
245,602

  
245,602

Creditors: amounts falling due within one year
 6 
(3,188,401)

Net current (liabilities)/assets
  
 
 
(2,942,799)

Total assets less current liabilities
  
125,021

  

Net assets
  
125,021


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
124,921

  
125,021


The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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.





 
Page 1

 
MARELA INVESTMENTS LTD
REGISTERED NUMBER: 14306268
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023


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 3 April 2024.




A P Keen
Director

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

Page 2

 
MARELA INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.


General information

Marela Investments Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Calder & Co, 30 Orange Street, London, WC2H 7HF.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Interest income

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

 
2.4

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.

Page 3

 
MARELA INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
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 balance sheet date in the countries where the Company operates and generates income.

 
2.6

Valuation of investments

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not
Page 4

 
MARELA INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the period was 1.

Page 5

 
MARELA INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

4.


Fixed asset investments





Listed investments

£



Cost or valuation


Additions
3,003,242


Disposals
(94,685)


Revaluations
159,263



At 31 August 2023
3,067,820





5.


Cash and cash equivalents

2023
£

Cash at bank and in hand
245,602

245,602



6.


Creditors: Amounts falling due within one year

2023
£

Other creditors
3,184,801

Accruals and deferred income
3,600

3,188,401



7.


Share capital

2023
£
Allotted, called up and fully paid


40 Ordinary A shares of £1.00 each
40
40 Ordinary B shares of £1.00 each
40
10 Ordinary C shares of £1.00 each
10
10 Ordinary D shares of £1.00 each
10

100


Page 6

 
MARELA INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

7.Share capital (continued)

On 19th August 2022 100 ordinary £1 shares were issued at par for cash consideration.


8.


Related party transactions

As at 31st August 2023 the company owed its director £3,184,801 by virtue of a directors current account. This amount is interest free and has no fixed reapyment terms.

 
Page 7