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Registered number: 04513261


MIA 18 LIMITED








UNAUDITED

PAGES FOR FILING WITH REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MIA 18 LIMITED
REGISTERED NUMBER: 04513261

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 3 
220,000
220,000

  
220,000
220,000

  

Total assets less current liabilities
  
 
220,000
 
220,000

  

Net assets
  
220,000
220,000


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
 4 
266,344
124,294

Profit and loss account
 4 
(46,444)
95,606

  
220,000
220,000


Page 1

 
MIA 18 LIMITED
REGISTERED NUMBER: 04513261
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

For the year ended 31 December 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

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 his 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 statement of income and retained earnings 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 by: 




................................................
D S Clements
Director

Date: 23 September 2024

The notes on pages 4 to 6 form part of these financial statements.

Page 2

 
MIA 18 LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
100
-
219,900
220,000


Comprehensive income for the year

Loss for the year
-
-
(124,294)
(124,294)

Share based payment
-
124,294
-
124,294



At 1 January 2023
100
124,294
95,606
220,000


Comprehensive income for the year

Loss for the year
-
-
(142,050)
(142,050)

Share based payment
-
142,050
-
142,050


At 31 December 2023
100
266,344
(46,444)
220,000


The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
MIA 18 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Mia 18 Limited  is  a  limited  liability  company.  The  company  is  incorporated  in  England and Wales. The registered office is 1 Vincent Square, London, SW1P 2PN.
The principal activity of the company during the year under review was that of a holding company.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less 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.

Page 4

 
MIA 18 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
220,000



At 31 December 2023
220,000





4.


Reserves

Other reserves

The company ‘other reserves’ comprise the share based payment reserve as shown below.

Profit & loss account

Includes all current and prior period retained profits and losses

Page 5

 
MIA 18 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Share-based payments

Mia 18  Limited  operates  an  equity-settled  share  based  remuneration  scheme  for employees and directors.
The share options have the following performance conditions:
- Each option granted is based upon the individual performance of the employee and length of service.
- The vesting period for share options granted is typically 2.5 years.
No share options had fully vested as at the balance sheet date. A pro-rata calculation of the options with respect to their vesting dates were made for the period in question to determine the charge for the year. The total number of share options in the pool as at 31 December 2023 was 1,094 (2022: 1,094).
The black-scholes option pricing model was used to value the share-based payment awards as it was
considered  that  this  approach  would  result  in  materially  accurate  estimate  of  the  fair  value options granted. The  total  expense recognised in the profit or  loss for the year in respect of  share based payments is £142,050 (2022: £124,294). The  total  carrying  amount  at  the  end  of  the  year  for  liabilities arising  from  share based  payment transactions is £266,344 (2022: £124,294).

Weighted average exercise price (pence)
2023
Number
2023

Outstanding at the beginning of the year

325

1,094

Granted during the year

0

-

Outstanding at the end of the year

1,094





Page 6