0 false false false false true false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 383,804 383,804 383,804 xbrli:pure xbrli:shares iso4217:GBP 06316608 2022-06-01 2023-05-31 06316608 2023-05-31 06316608 2022-05-31 06316608 2021-06-01 2022-05-31 06316608 2022-05-31 06316608 2021-05-31 06316608 core:Subsidiary1 2022-06-01 2023-05-31 06316608 core:Subsidiary2 2022-06-01 2023-05-31 06316608 core:Subsidiary3 2022-06-01 2023-05-31 06316608 bus:Director1 2022-06-01 2023-05-31 06316608 core:WithinOneYear 2023-05-31 06316608 core:WithinOneYear 2022-05-31 06316608 core:ShareCapital 2023-05-31 06316608 core:ShareCapital 2022-05-31 06316608 core:SharePremium 2023-05-31 06316608 core:SharePremium 2022-05-31 06316608 core:RetainedEarningsAccumulatedLosses 2023-05-31 06316608 core:RetainedEarningsAccumulatedLosses 2022-05-31 06316608 core:CostValuation core:Non-currentFinancialInstruments 2023-05-31 06316608 core:Non-currentFinancialInstruments 2023-05-31 06316608 core:Non-currentFinancialInstruments 2022-05-31 06316608 bus:SmallEntities 2022-06-01 2023-05-31 06316608 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 06316608 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 06316608 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 06316608 bus:FullAccounts 2022-06-01 2023-05-31
COMPANY REGISTRATION NUMBER: 06316608
MAPWAY HOLDINGS LIMITED
Filleted Unaudited Financial Statements
31 May 2023
MAPWAY HOLDINGS LIMITED
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
383,804
383,804
Current assets
Debtors
5
464,926
464,926
Cash at bank and in hand
2,429
---------
---------
464,926
467,355
Creditors: amounts falling due within one year
6
310,759
313,188
---------
---------
Net current assets
154,167
154,167
---------
---------
Total assets less current liabilities
537,971
537,971
---------
---------
Capital and reserves
Called up share capital
401,373
401,373
Share premium account
122,942
122,942
Profit and loss account
13,656
13,656
---------
---------
Shareholders funds
537,971
537,971
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31st May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MAPWAY HOLDINGS LIMITED
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 30 January 2024 , and are signed on behalf of the board by:
Mr D James
Director
Company registration number: 06316608
MAPWAY HOLDINGS LIMITED
Notes to the Financial Statements
Year ended 31st May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Dalton Place, 29 John Dalton Street, Manchester, M2 6DS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Investments
Shares in group undertakings
£
Cost
At 1st June 2022 and 31st May 2023
383,804
---------
Impairment
At 1st June 2022 and 31st May 2023
---------
Carrying amount
At 31st May 2023
383,804
---------
At 31st May 2022
383,804
---------
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Mapway Limited
Ordinary
100
Mapway Technologies Limited
Ordinary
100
mxData Limited
Ordinary
100
The results and capital and reserves for the year are as follows:
Capital and reserves
Profit/(loss) for the year
2023
2022
2023
2022
£
£
£
£
Subsidiary undertakings
Mapway Limited
(8,206,036)
(8,466,218)
260,182
(117,162)
Mapway Technologies Limited
10,526,066
10,130,324
395,742
67,368
mxData Limited
100
100
-------------
-------------
---------
---------
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
464,926
464,926
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
310,759
313,188
---------
---------
7. Related party transactions
The company was under the control of Mr D James throughout the current and previous year. The company had the following subsidiary undertakings at the end of the financial year; Mapway Limited Mapway Technologies Limited mxData Limited Shares held in Mapway Limited; 1,000 Ordinary shares of £1 each This represents 100% of the nominal value. Shares held in Mapway Technologies Limited; 8,165,241 Ordinary shares of £0.01 each This represents 100% of the nominal value. 928,572 A Preferred shares of £0.01 each This represents 100% of the nominal value. 1,608,677 Deferred shares of £0.01 each This represents 100% of the nominal value. Shares held in mxData Limited 100 Ordinary shares of £1 each This represents 100% of the nominal value. Included in Debtors is amounts owed by group undertakings of £464,926. This relates to an amount owed from Mapway Technologies Limited. Included in Creditors are amounts owed to group undertakings of £310,759. This relates to an amount owed to Mapway Limited of £310,659 and an amount owed to mxData Limited of £100.