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Registered number: 03894230










MALSA CONSULTANTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MALSA CONSULTANTS LIMITED
REGISTERED NUMBER: 03894230

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note

Fixed assets
  

Tangible assets
 5 
6,287,252
6,293,878

Investments
 6 
7,369,390
6,619,283

  
13,656,642
12,913,161

Current assets
  

Debtors: amounts falling due within one year
 7 
150,498
29,146

Cash at bank and in hand
  
952,652
772,785

  
1,103,150
801,931

Creditors: amounts falling due within one year
 8 
(12,725,795)
(12,695,440)

Net current liabilities
  
 
 
(11,622,645)
 
 
(11,893,509)

Total assets less current liabilities
  
2,033,997
1,019,652

Provisions for liabilities
  

Deferred tax
 9 
(1,047,176)
(859,649)

  
 
 
(1,047,176)
 
 
(859,649)

Net assets
  
986,821
160,003


Capital and reserves
  

Called up share capital 
  
3,254
3,254

Revaluation reserve
 10 
4,769,473
4,206,893

Profit and loss account
 10 
(3,785,906)
(4,050,144)

  
986,821
160,003


Page 1

 
MALSA CONSULTANTS LIMITED
REGISTERED NUMBER: 03894230
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her 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.

The Company has opted not to file the profit and loss account 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 28 August 2024.




C Caussin
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
MALSA CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Malsa Consultants Limited (03894230) is a private company limited by shares, and is incorporated in the UK and registered in England and Wales. The address of its registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW. 

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 Euros.

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.4

Interest income

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

Page 3

 
MALSA CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Computer software
-
%
50% - 66.67%

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
MALSA CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2.63% - 100%
Long-term leasehold property
-
4% - 100%
Plant and machinery
-
50%
Fixtures and fittings
-
20% - 100%
Office equipment
-
25% - 100%
Other fixed assets
-
50% - 100%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
MALSA CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 7).

Page 6

 
MALSA CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Computer software




Cost


At 1 January 2023
9,400



At 31 December 2023

9,400



Amortisation


At 1 January 2023
9,400



At 31 December 2023

9,400



Net book value



At 31 December 2023
-



At 31 December 2022
-




Page 7

 
MALSA CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Freehold property
Long-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment




Cost or valuation


At 1 January 2023
6,129,943
298,930
322
13,592
1,404


Additions
-
34,333
-
-
-


Disposals
-
-
(322)
-
-



At 31 December 2023

6,129,943
333,263
-
13,592
1,404



Depreciation


At 1 January 2023
58,335
83,658
322
10,243
1,226


Charge for the year on owned assets
7,930
33,614
-
1,625
178


Disposals
-
-
(322)
-
-



At 31 December 2023

66,265
117,272
-
11,868
1,404



Net book value



At 31 December 2023
6,063,678
215,991
-
1,724
-



At 31 December 2022
6,071,608
215,272
-
3,349
178
Page 8

 
MALSA CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           5.Tangible fixed assets (continued)


Other fixed assets
Total




Cost or valuation


At 1 January 2023
8,552
6,452,743


Additions
3,281
37,614


Disposals
(1,234)
(1,556)



At 31 December 2023

10,599
6,488,801



Depreciation


At 1 January 2023
5,081
158,865


Charge for the year on owned assets
893
44,240


Disposals
(1,234)
(1,556)



At 31 December 2023

4,740
201,549



Net book value



At 31 December 2023
5,859
6,287,252



At 31 December 2022
3,471
6,293,878


6.


Fixed asset investments





Listed investments




Valuation


At 1 January 2023
6,619,283


Revaluations
750,107



At 31 December 2023
7,369,390




Page 9

 
MALSA CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022


Trade debtors
9,461
2,999

Other debtors
141,037
26,147

150,498
29,146



8.


Creditors: Amounts falling due within one year

2023
2022

Trade creditors
2,918
12,601

Amounts owed to group undertakings
12,627,307
12,627,307

Corporation tax
17,251
-

Other taxation and social security
27,710
24,945

Other creditors
34,730
17,625

Accruals and deferred income
15,879
12,962

12,725,795
12,695,440



9.


Deferred taxation




2023








At beginning of year
859,649


Charged to profit or loss
187,527



At end of year
1,047,176

The provision for deferred taxation is made up as follows:

2023
2022


Unrealised gains on listed investments
1,047,176
859,649

1,047,176
859,649

Page 10

 
MALSA CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Reserves

Revaluation reserve

The other reserve represents revaluations relating to investments, net of associated deferred tax.

Profit and loss account

The profit and loss account comprises the balance of profit/(loss) accumulated over the life of the company.

 
Page 11