MWADUI MINE HOLDINGS LIMITED

Company Registration Number:
14156727 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2023

Period of accounts

Start date: 7 June 2022

End date: 30 June 2023

MWADUI MINE HOLDINGS LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

MWADUI MINE HOLDINGS LIMITED

Directors' report period ended 30 June 2023

The directors present their report with the financial statements of the company for the period ended 30 June 2023

Principal activities of the company

The company has not commenced trading activities and is currently dormant. The company is considered to be a goingconcern as it is solvent and is likely to commence trading in the future, subject to the completion of the the written sale ofshares and claims agreement to be concluded between the Petra Group and Pink Diamonds, pursuant to which, inter alia, PinkDiamonds will acquire a shareholding interest in the company equal to 250 of the 501 issued shares of the company.



Directors

The director shown below has held office during the whole of the period from
7 June 2022 to 30 June 2023

Rupert Rowland-Clark


Secretary Rupert Rowland-Clark

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
6 March 2024

And signed on behalf of the board by:
Name: Rupert Rowland-Clark
Status: Secretary

MWADUI MINE HOLDINGS LIMITED

Profit And Loss Account

for the Period Ended 30 June 2023

13 months to 30 June 2023


£
Turnover: 0
Cost of sales: 0
Gross profit(or loss): 0
Distribution costs: 0
Administrative expenses: 0
Other operating income: 0
Operating profit(or loss): 0
Interest receivable and similar income: 0
Interest payable and similar charges: 0
Profit(or loss) before tax: 0
Tax: 0
Profit(or loss) for the financial year: 0

MWADUI MINE HOLDINGS LIMITED

Balance sheet

As at 30 June 2023

Notes 13 months to 30 June 2023


£
Called up share capital not paid: 0
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Debtors: 3 5
Total current assets: 5
Net current assets (liabilities): 5
Total assets less current liabilities: 5
Total net assets (liabilities): 5
Capital and reserves
Called up share capital: 5
Total Shareholders' funds: 5

The notes form part of these financial statements

MWADUI MINE HOLDINGS LIMITED

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 6 March 2024
and signed on behalf of the board by:

Name: Rupert Rowland-Clark
Status: Director

The notes form part of these financial statements

MWADUI MINE HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Other accounting policies

    1. Significant accounting policies The principal accounting policies applied in the preparation of these financial statements are set out below. These policies havebeen consistently applied during the periods, unless otherwise stated. The company meets the definition of a qualifying entity under Financial Reporting Standard (FRS) 100 issued by the FinancialReporting Council. The financial statements have therefore been prepared in accordance with FRS 101 ‘Reduced DisclosureFramework’ as issued by the Financial Reporting Council. The company is part the Petra group, where the parent, Petra Diamonds Limited prepares publicly available consolidated financialstatements which includes the results of the company in the consolidation. The consolidated financial statements of the PetraGroup is available to the public and can be obtained from its registered office (Third Floor, 15–17 Heddon Street, London, W1B4BF, United Kingdom) and from its website www.petradiamonds.com. Going concern The company has not commenced trading activities and is currently dormant. The company is considered to be a goingconcern as it is solvent and is likely to commence trading in the future, subject to the completion of the the written sale ofshares and claims agreement to be concluded between the Petra Group and Pink Diamonds, pursuant to which, inter alia, PinkDiamonds will acquire a shareholding interest in the company equal to 250 of the 501 issued shares of the company. Accordingly,the director has concluded that the going concern basis of preparation is appropriate for the company. Share capital Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources receivedor receivable net of the direct costs of issuing the equity instruments. Ordinary shares are recognised at par value and classified as 'share capital' in equity. Any amounts received from the issue ofshares in excess of par value is classified as 'share premium' in equity. Dividends are recognised as a liability in the year in whichthey are declared. Financial instruments Classification Financial assets and financial liabilities are recognised in the company’s balance sheet when the company becomes a party tothe contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value andsubsequently at amortised cost. Transaction costs that are directly attributable to the acquisition or issue of financial assetsand financial liabilities are added to or deducted from the fair value of the financial assets and financial liabilities, as appropriate,on recognition. Transaction costs are recognised immediately in profit or loss. Financial liabilities and equity Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the substance of thecontractual agreement. Equity instruments An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of itsliabilities. Equity instruments issued by the company are recognised at the proceeds received, net of direct issue costs. Trade and other receivables Trade receivables are measured at initial recognition at fair value, and are subsequently measured at amortised cost using theeffective interest rate method. Appropriate allowances for estimated irrecoverable amounts are recognised in profit or losswhen there is objective evidence that the asset is impaired. Significant financial difficulties of the debtor, probability that the debtorwill enter bankruptcy or financial reorganisation, and default or delinquency in payments (more than 30 days overdue) areconsidered indicators that the trade receivable is impaired. The allowance recognised is measured as the difference between theasset’s carrying amount and the present value of estimated future cash flows discounted at the effective interest rate computedat initial recognition. The carrying amount of the asset is reduced through the use of an allowance account, and the amount of the loss is recognisedin profit or loss within operating expenses. When a trade receivable is uncollectable, it is written off against the allowance accountfor trade receivables. Subsequent recoveries of amounts previously written off are credited against operating expenses in profitor loss. Trade and other receivables are classified as loans and receivables. Trade and other payables Trade payables are initially measured at fair value, and are subsequently measured at amortised cost, using the effectiveinterest rate method. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and demand deposits, and other short-term highly liquid investments thatare readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value. These are initiallyand subsequently recorded at fair value.

MWADUI MINE HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 2. Employees

    13 months to 30 June 2023
    Average number of employees during the period 0

MWADUI MINE HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Debtors

13 months to 30 June 2023
£
Trade debtors 0
Prepayments and accrued income 0
Other debtors 5
Total 5
Debtors due after more than one year: 0