Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-314falsefalse2023-04-01No description of principal activity4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08129048 2023-04-01 2024-03-31 08129048 2022-04-01 2023-03-31 08129048 2024-03-31 08129048 2023-03-31 08129048 2022-04-01 08129048 c:Director1 2023-04-01 2024-03-31 08129048 d:FreeholdInvestmentProperty 2024-03-31 08129048 d:FreeholdInvestmentProperty 2023-03-31 08129048 d:CurrentFinancialInstruments 2024-03-31 08129048 d:CurrentFinancialInstruments 2023-03-31 08129048 d:Non-currentFinancialInstruments 2024-03-31 08129048 d:Non-currentFinancialInstruments 2023-03-31 08129048 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08129048 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08129048 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 08129048 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08129048 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 08129048 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 08129048 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 08129048 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 08129048 d:ShareCapital 2023-04-01 2024-03-31 08129048 d:ShareCapital 2024-03-31 08129048 d:ShareCapital 2022-04-01 2023-03-31 08129048 d:ShareCapital 2023-03-31 08129048 d:ShareCapital 2022-04-01 08129048 d:RevaluationReserve 2023-04-01 2024-03-31 08129048 d:RevaluationReserve 2024-03-31 08129048 d:RevaluationReserve 2022-04-01 2023-03-31 08129048 d:RevaluationReserve 2023-03-31 08129048 d:RevaluationReserve 2022-04-01 08129048 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 08129048 d:RetainedEarningsAccumulatedLosses 2024-03-31 08129048 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 08129048 d:RetainedEarningsAccumulatedLosses 2023-03-31 08129048 d:RetainedEarningsAccumulatedLosses 2022-04-01 08129048 c:OrdinaryShareClass1 2023-04-01 2024-03-31 08129048 c:OrdinaryShareClass1 2024-03-31 08129048 c:FRS102 2023-04-01 2024-03-31 08129048 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08129048 c:FullAccounts 2023-04-01 2024-03-31 08129048 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08129048 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 08129048 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08129048 e:PoundSterling 2023-04-01 2024-03-31 08129048 d:EntityControlledByKeyManagementPersonnel1 2023-04-01 2024-03-31 08129048 d:EntityControlledByKeyManagementPersonnel1 2024-03-31 08129048 d:EntityControlledByKeyManagementPersonnel2 2023-04-01 2024-03-31 08129048 d:EntityControlledByKeyManagementPersonnel2 2024-03-31 08129048 d:EntityControlledByKeyManagementPersonnel3 2023-04-01 2024-03-31 08129048 d:EntityControlledByKeyManagementPersonnel3 2024-03-31 08129048 d:EntityControlledByKeyManagementPersonnel4 2023-04-01 2024-03-31 08129048 d:EntityControlledByKeyManagementPersonnel4 2024-03-31 08129048 d:EntityControlledByKeyManagementPersonnel5 2023-04-01 2024-03-31 08129048 d:EntityControlledByKeyManagementPersonnel5 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08129048









MAFNAZ INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
MAFNAZ INVESTMENTS LIMITED
REGISTERED NUMBER: 08129048

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
2,250,000
2,250,000

Current assets
  

Debtors: amounts falling due within one year
 5 
1,026,615
1,034,679

Cash at bank and in hand
 6 
7,762
11,279

  
1,034,377
1,045,958

Creditors: amounts falling due within one year
 7 
(177,542)
(179,360)

Net current assets
  
 
 
856,835
 
 
866,598

Total assets less current liabilities
  
3,106,835
3,116,598

Creditors: amounts falling due after more than one year
 8 
(1,447,060)
(1,470,060)

Provisions for liabilities
  

Deferred tax
 10 
(334,968)
(334,968)

Net assets
  
1,324,807
1,311,570


Capital and reserves
  

Called up share capital 
 11 
100
100

Revaluation reserve
  
1,085,295
1,085,295

Profit and loss account
  
239,412
226,175

  
1,324,807
1,311,570


Page 1

 
MAFNAZ INVESTMENTS LIMITED
REGISTERED NUMBER: 08129048
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 directors acknowledge their 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 comprehensive income 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 8 October 2024.




M S Gani
Director


The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
MAFNAZ INVESTMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
100
1,085,295
226,175
1,311,570


Comprehensive income for the year

Profit for the year
-
-
13,237
13,237
Total comprehensive income for the year
-
-
13,237
13,237


At 31 March 2024
100
1,085,295
239,412
1,324,807



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


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
100
1,085,295
201,183
1,286,578


Comprehensive income for the year

Profit for the year
-
-
24,992
24,992
Total comprehensive income for the year
-
-
24,992
24,992


At 31 March 2023
100
1,085,295
226,175
1,311,570


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
MAFNAZ INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Mafnaz Investments Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 1 Commonside West, Mitcham, Surrey, CR4 4HA.
The company’s principal activity is that of property investment.

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors note that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the Statement of financial position date. As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on a going concern basis.

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of rent and service charges receivable in respect of properties held by the company exclusive of Value Added Tax and trade discounts.
Turnover is recognised on a straight line basis over the lease term.

 
2.4

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.

 
2.5

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.

 
2.6

Creditors

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.

Page 4

 
MAFNAZ INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.8

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.9

Current and deferred taxation

Tax is recognised in the Statement of comprehensive income, 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 Statement of financial position 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 Statement of financial position 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 Statement of financial position date.

 
2.10

Investment property

Investment property is carried at fair value determined annually by the directors and / or external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 
MAFNAZ INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Investment property

£



Valuation


At 1 April 2023
2,250,000



At 31 March 2024
2,250,000

The 2024 valuations were made by the directors, who are not qualified surveyors, on an open market value for existing use basis.




5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
924,024
-

Other debtors
100,055
1,032,079

Prepayments and accrued income
2,536
2,600

1,026,615
1,034,679



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
7,762
11,279

7,762
11,279


Page 6

 
MAFNAZ INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
69,000
69,000

Amounts owed to group undertakings
4,000
-

Corporation tax
4,044
5,862

Other creditors
97,618
101,618

Accruals and deferred income
2,880
2,880

177,542
179,360


Bank loans of £69,000 (2023 - £69,000) are secured by a fixed and floating charge against the assets of the company.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,093,750
1,116,750

Other creditors
353,310
353,310

1,447,060
1,470,060


Bank loans of £1,093,750 (2023 - £1,116,750) are secured by a fixed and floating charge against the assets of the company.
 

Page 7

 
MAFNAZ INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
69,000
69,000

Amounts falling due 1-2 years

Bank loans
69,000
69,000

Amounts falling due 2-5 years

Bank loans
1,024,750
1,047,750


1,162,750
1,185,750


Page 8

 
MAFNAZ INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
334,968
334,968



At end of year
334,968
334,968

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Potential capital gain on investment property
334,968
334,968

334,968
334,968


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100


Page 9

 
MAFNAZ INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Related party transactions

Included within other creditors due in less than one year, is an amount of £97,618 (2023 - £101,618) due to a company under common control.
 
Included within amount owed to group undertakings due in less than one year, is an amount of £4,000 (2023 - £Nil) due to a related party.
 
Included within amount owed by group undertakings due in more than one year is an amount of £924,024 due from (2023 - £Nil) a related party.
 
Included within other debtors due in more than one year is an amount of £Nil due from (2023 - £932,024) a related party.
 
Included within other debtors, is an amount of £87,500 (2023 - £87,500) due from companies under comon control.
 
During the year, the company paid management fees of £6,669 (2023 - £6,606) to a company under common control.
 
Included within other creditors due after more than one year is an amount of £353,310 (2023 - £353,310) due to a company under common control.


13.


Ultimate parent undertaking and controlling party

The immediate and ultimate parent undertaking was Newell Limited, a company incorporated in England and Wales.
The ultimate controlling parties are the directors by virtue of their majority shareholding in Newell Limited.

Page 10