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REGISTERED NUMBER: 11314563 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

MAYA HTT UK LTD

MAYA HTT UK LTD (REGISTERED NUMBER: 11314563)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MAYA HTT UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Inta Zvagulis





REGISTERED OFFICE: 7 Savoy Court
London
United Kingdom
WC2R 0EX





REGISTERED NUMBER: 11314563 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Riverside House
40-46 High Street
Maidstone
Kent
ME14 1JH

MAYA HTT UK LTD (REGISTERED NUMBER: 11314563)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 9,474 8,481

CURRENT ASSETS
Debtors 5 488,768 381,428
Cash at bank 420,333 923,094
909,101 1,304,522
CREDITORS
Amounts falling due within one year 6 2,158,888 2,014,036
NET CURRENT LIABILITIES (1,249,787 ) (709,514 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,240,313

)

(701,033

)

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 (1,240,314 ) (701,034 )
SHAREHOLDERS' FUNDS (1,240,313 ) (701,033 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 December 2023 and were signed by:





Inta Zvagulis - Director


MAYA HTT UK LTD (REGISTERED NUMBER: 11314563)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

MAYA HTT UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised as follows:
- Services - time and materials contracts are recognized based on billable time spent. Fixed bid contracts are recognized based on percentage of completion.
- Software - perpetual licenses are recognized upfront upon license activation. Subscription licenses are recognized over the term of the contract as time passes, from date of activation. Software maintenance & support is recognized over the term of the contract as time passes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MAYA HTT UK LTD (REGISTERED NUMBER: 11314563)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Going concern
Accounting standards require the director to consider the appropriateness of the going concern basis when preparing the financial statements. The director confirms that she considers that the going concern basis remains appropriate. The director believes that the company has sufficient resources to continue in operational existence for the foreseeable future. The director believes this to be the case as the company has the ongoing support of a major creditor, being the parent company which does not have the intention to withdraw support to the detriment of the company's ability to continue as a going concern.

Having regard to the above, the director believes it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Debtors
Short term debtors are measured at transaction price, less any impairment.

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 no significant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial
statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Office
equipment
£
COST
At 1 August 2022 15,019
Additions 1,811
At 31 July 2023 16,830
DEPRECIATION
At 1 August 2022 6,538
Charge for year 818
At 31 July 2023 7,356
NET BOOK VALUE
At 31 July 2023 9,474
At 31 July 2022 8,481

MAYA HTT UK LTD (REGISTERED NUMBER: 11314563)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 458,841 381,428
Prepayments and accrued income 29,927 -
488,768 381,428

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 270,125 858,777
Amounts owed to group undertakings 1,179,465 780,631
VAT 28,645 36,985
Other creditors - 2,792
Deferred income 480,982 190,287
Accrued expenses 199,671 144,564
2,158,888 2,014,036

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1 Ordinary £1 1 1

8. RESERVES
Retained
earnings
£

At 1 August 2022 (701,034 )
Deficit for the year (539,280 )
At 31 July 2023 (1,240,314 )

9. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charged represents contributions payable by the company to the fund and amounted to £22,456 (2022: £11,476). At the balance sheet date, outstanding contributions amounted to £nil (2022: £2,792).

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by its parent company Maya Heat Transfer Technologies Ltd, a company registered in Canada.