IRIS Accounts Production v24.2.0.383 14109179 Board of Directors 1.1.23 31.12.23 31.12.23 0 false true false false true false Ordinary 1.00000 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh141091792022-12-31141091792023-12-31141091792023-01-012023-12-31141091792022-05-15141091792022-05-162022-12-31141091792022-12-3114109179ns15:EnglandWales2023-01-012023-12-3114109179ns14:PoundSterling2023-01-012023-12-3114109179ns10:Director12023-01-012023-12-3114109179ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3114109179ns10:SmallEntities2023-01-012023-12-3114109179ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3114109179ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3114109179ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3114109179ns10:FullAccounts2023-01-012023-12-3114109179ns10:EntityHasNeverTraded2023-01-012023-12-3114109179ns10:OrdinaryShareClass12023-01-012023-12-3114109179ns10:OrdinaryShareClass1112023-01-012023-12-3114109179ns10:Director22023-01-012023-12-3114109179ns10:RegisteredOffice2023-01-012023-12-3114109179ns5:CurrentFinancialInstruments2023-12-3114109179ns5:CurrentFinancialInstruments2022-12-3114109179ns5:Non-currentFinancialInstruments2023-12-3114109179ns5:Non-currentFinancialInstruments2022-12-3114109179ns5:ShareCapital2023-12-3114109179ns5:ShareCapital2022-12-3114109179ns5:SharePremium2023-12-3114109179ns5:SharePremium2022-12-3114109179ns5:RetainedEarningsAccumulatedLosses2023-12-3114109179ns5:RetainedEarningsAccumulatedLosses2022-12-3114109179ns5:ComputerEquipment2023-01-012023-12-3114109179ns5:ComputerEquipment2023-12-3114109179ns5:AdditionsToInvestments2023-12-3114109179ns5:CostValuation2023-12-3114109179ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3114109179ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3114109179ns5:AcceleratedTaxDepreciationDeferredTax2023-12-3114109179ns5:AcceleratedTaxDepreciationDeferredTax2022-12-3114109179ns5:DeferredTaxation2023-01-012023-12-3114109179ns5:DeferredTaxation2023-12-3114109179ns10:OrdinaryShareClass12023-12-3114109179ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31
REGISTERED NUMBER: 14109179 (England and Wales)















Mcwin Advisors UK Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Mcwin Advisors UK Limited (Registered number: 14109179)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mcwin Advisors UK Limited

Company Information
for the year ended 31 December 2023







Directors: H J Goss
T A Weeks





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 14109179 (England and Wales)






Mcwin Advisors UK Limited (Registered number: 14109179)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 3,899 -
Investments 5 197,442 -
201,341 -

Current assets
Debtors 6 6,400,897 100
Cash at bank 685,582 -
7,086,479 100
Creditors
Amounts falling due within one year 7 697,841 -
Net current assets 6,388,638 100
Total assets less current liabilities 6,589,979 100

Creditors
Amounts falling due after more than one
year

8

(6,069,000

)

-

Provisions for liabilities 9 (975 ) -
Net assets 520,004 100

Capital and reserves
Called up share capital 10 200 100
Share premium 11 139,900 -
Retained earnings 11 379,904 -
Shareholders' funds 520,004 100

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

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

The directors acknowledge their 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.

Mcwin Advisors UK Limited (Registered number: 14109179)

Balance Sheet - continued
31 December 2023


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 Board of Directors and authorised for issue on 23 May 2024 and were signed on its behalf by:





T A Weeks - Director


Mcwin Advisors UK Limited (Registered number: 14109179)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Mcwin Advisors UK Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Preparation of consolidated financial statements
The financial statements contain information about Mcwin Advisors UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
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.

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

Turnover represents amounts receivable for services provided in the year in respect of investment advisory fees.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment - 33% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Mcwin Advisors UK Limited (Registered number: 14109179)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables, convertible loan notes and loans and borrowings. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full.

Financial assets and liabilities - classified as basic financial instruments

(i) Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Income Statement.

(iii) Equity investments
Equity investments comprise ordinary shares, not publicly traded in active markets for which a reliable fair value cannot be measured reliably. Equity investments are initially recognised at fair value, which is the transaction price excluding transaction costs and are subsequently measured at fair value through profit or loss.

(iv) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the discounted amount of the cash expected to be paid.

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.

Mcwin Advisors UK Limited (Registered number: 14109179)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. Employees and directors

The average number of employees during the year was 2 (2022 - NIL ) .

4. Tangible fixed assets
Computer
equipment
£
Cost
Additions 4,009
At 31 December 2023 4,009
Depreciation
Charge for year 110
At 31 December 2023 110
Net book value
At 31 December 2023 3,899

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
Additions 197,442
At 31 December 2023 197,442
Net book value
At 31 December 2023 197,442

6. Debtors
2023 2022
£ £
Amounts falling due within one year:
Amounts owed by group undertakings 4,100 100
Other debtors 19,000 -
VAT 15,676 -
Prepayments and accrued income 293,121 -
331,897 100

Mcwin Advisors UK Limited (Registered number: 14109179)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


6. Debtors - continued
2023 2022
£ £
Amounts falling due after more than one year:
Amounts owed by group undertakings 6,069,000 -

Aggregate amounts 6,400,897 100

7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 397,757 -
Amounts owed to group undertakings 10,721 -
Tax 114,162 -
Social security and other taxes 19,378 -
Other creditors 11,444 -
Accrued expenses 144,379 -
697,841 -

8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Fixed rate bond 6,069,000 -

9. Provisions for liabilities
2023 2022
£ £
Deferred tax
Accelerated capital allowances 975 -

Deferred tax
£
Provided during year 975
Balance at 31 December 2023 975

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
200 Ordinary £1 200 100

100 Ordinary shares of £1 each were allotted as fully paid at a premium of £1,399 per share during the year.

Mcwin Advisors UK Limited (Registered number: 14109179)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


11. Reserves
Retained Share
earnings premium Totals
£ £ £

Profit for the year 379,904 379,904
Cash share issue - 139,900 139,900
At 31 December 2023 379,904 139,900 519,804

12. Ultimate controlling party

The ultimate controlling Company is Metropolitan Properties International s.r.o.