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Registration number: 10504590

Mitrium Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Mitrium Holdings Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Mitrium Holdings Limited

(Registration number: 10504590)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,262

5,708

Investments

5

411

411

 

12,673

6,119

Current assets

 

Debtors

6

920,675

871,163

Cash at bank and in hand

 

83,234

77,908

 

1,003,909

949,071

Creditors: Amounts falling due within one year

7

(174,171)

(130,270)

Net current assets

 

829,738

818,801

Net assets

 

842,411

824,920

Capital and reserves

 

Called up share capital

401

401

Retained earnings

842,010

824,519

Shareholders' funds

 

842,411

824,920

 

Mitrium Holdings Limited

(Registration number: 10504590)
Balance Sheet as at 30 April 2023

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

Approved and authorised by the Board on 29 March 2024 and signed on its behalf by:
 

.........................................
Mrs Sarah Nerys Wells
Company secretary and director

   
     
 

Mitrium Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of being a holding company. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line basis

Plant and machinery

25% straight line basis

Fixtures and fittings

25% straight line basis

Motor vehicles

25% straight line basis

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Mitrium Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Other Tangible Assets
£

Total
£

Cost or valuation

At 1 May 2022

2,496

7,377

20,697

-

30,570

Additions

-

-

-

8,842

8,842

At 30 April 2023

2,496

7,377

20,697

8,842

39,412

Depreciation

At 1 May 2022

1,891

7,317

15,654

-

24,862

Charge for the year

247

31

2,010

-

2,288

At 30 April 2023

2,138

7,348

17,664

-

27,150

Carrying amount

At 30 April 2023

358

29

3,033

8,842

12,262

At 30 April 2022

605

60

5,043

-

5,708

 

Mitrium Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

411

411

Subsidiaries

£

Cost or valuation

At 1 May 2022

411

Provision

Carrying amount

At 30 April 2023

411

At 30 April 2022

411

 

Mitrium Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Polar Bear Design Limtied

2 Old Bath Road
Newbury
Berkshire
RG14 6RS

England & Wales

A Ordinary shares

100%

100%

Interactive Homes Limited

2 Old Bath Road
Newbury
Berkshire
RG14 1QL

England & Wales

A Ordinary shares

100%

100%

Mitrium Properties Limited

2 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QL

England & Wales

A Ordinary Shares

100%

100%

Subsidiary undertakings

Polar Bear Design Limtied

The principal activity of Polar Bear Design Limtied is specialised design.

Interactive Homes Limited

The principal activity of Interactive Homes Limited is design and installation of next generation smart home technologies into new or exisiting properties.

Mitrium Properties Limited

The principal activity of Mitrium Properties Limited is Other letting and operating of own or leased real estate.

 

Mitrium Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

4,475

2,325

Amounts owed by related parties

8

915,484

866,757

Other debtors

 

716

2,081

   

920,675

871,163

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,501

3,411

Other creditors

172,670

126,859

174,171

130,270

 

Mitrium Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

8

Related party transactions

Other transactions with directors

J Wells, director, had an interest free loan with the company. The amount due to J Wells at the balance sheet date was £76,247 (2022 : £54,312).
S Wells, director, had an interest free loan with the company. The amount due to S Wells at the balance sheet date was £93,424 (2022 : £69,548).