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REGISTERED NUMBER: 14369867 (England and Wales)









MIMI & MARBLE HOLDINGS LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 18


MIMI & MARBLE HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: N M I Gillanders





REGISTERED OFFICE: Unit 12a
The Io Centre
Stephenson Road
Fareham
Hants
PO15 5RU





REGISTERED NUMBER: 14369867 (England and Wales)





AUDITORS: Morris Crocker Limited
Chartered Accountants
Statutory Auditors
Station House
North Street
Havant
Hampshire
PO9 1QU

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The director presents his strategic report of the company and the group for the year ended 31 March 2024.

PRINCIPLE ACTIVITY
Mimi and Marble Holdings Limited is the parent company of a group involved in the renewable energy and insulation sectors. The group comprises SCIS Holdings Limited, which owns SCIS Limited and Cotswold Energy (Group) Limited, acquired on 10 May 2023. Additionally, the group includes Mimi and Marble Investments Limited.

REVIEW OF BUSINESS
The group operates primarily through two key subsidiaries, SCIS Limited and Cotswold Energy (Group) Limited, which are actively involved in trading. SCIS Limited focuses on providing insulation and energy-saving solutions, while Cotswold Energy specializes in renewable energy installations, such as solar PV systems, heat pumps, and insulation upgrades.

During the year, the acquisition of Cotswold Energy (Group) Limited has expanded the group's footprint in the renewable energy sector, enhancing market opportunities and operational synergies. This acquisition is expected to contribute significantly to future growth and diversification.

The group experienced strong overall performance, driven by the continued demand for energy efficiency solutions in both domestic and commercial sectors. Both SCIS Limited and Cotswold Energy delivered robust financial results during the year, with revenue growth in both businesses.

The integration of Cotswold Energy into the group is progressing smoothly, creating enhanced market offerings and increasing capacity for sustainable energy solutions.

Financial Key Performance Indicators (KPIs):

1. Group Turnover: £45.283mil, driven by the combined trading activities of SCIS Limited and
Cotswold Energy.
2. Gross Profit: £14.045mil, reflecting operational efficiencies and growing market demand.
3. Profit Before Tax: £3.275mil, reflecting investment in growth and the costs associated with the
acquisition of Cotswold Energy.

These KPIs illustrate the group's strong operational and financial performance during the year, with growth attributed to the demand for insulation and renewable energy solutions.

PRINCIPAL RISKS AND UNCERTAINTIES
1. Market and Policy Changes: The group operates in a highly regulated industry, with changes in
government policy and funding schemes potentially affecting demand. To mitigate this, the group
maintains close monitoring of policy developments and continues to diversify its service offerings.
2. Integration and Expansion Risks: Following the acquisition of Cotswold Energy, integration
remains a key focus. Managing operational efficiencies while realizing the potential synergies from
the acquisition will be critical to continued success.
3. Supply Chain Disruptions: The group is dependent on maintaining reliable supplier relationships.
Any disruptions in the supply chain could impact the timely delivery of projects.


MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

Future Developments
The group plans to continue investing in both SCIS Limited and Cotswold Energy to drive organic growth. Future strategic priorities include capitalizing on the synergies from the acquisition of Cotswold Energy and exploring further opportunities in renewable energy markets.

Mimi and Marble Holdings Limited has strengthened its market position in the renewable energy and energy efficiency sectors through its acquisition and expansion efforts. With a strong trading performance from SCIS Limited and the successful integration of Cotswold Energy, the group is well-positioned to capitalize on emerging opportunities. The directors remain confident in the group's ability to sustain growth and deliver value to stakeholders.

ON BEHALF OF THE BOARD:





N M I Gillanders - Director


7 November 2024

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2024

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2024.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2023 will be £1,133,234.

DIRECTOR
N M I Gillanders held office during the whole of the period from 1 April 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Morris Crocker Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





N M I Gillanders - Director


7 November 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MIMI & MARBLE HOLDINGS LIMITED

Opinion
We have audited the financial statements of Mimi & Marble Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MIMI & MARBLE HOLDINGS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MIMI & MARBLE HOLDINGS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

From discussions with management and those charged with governance, we documented information about the entity to assess the activities within the organization. We also discussed management's assessment of risks related to irregularities, fraud, and going concern.

Based on these discussions and our own assessments, we determined that the key risk areas included income recognition with respect to cut-off issues and management override, given the size and structure of the organization, which includes a holding company with two subsidiaries.

We set the financial statement materiality level based on the gross assets of the entity. Although income generation is important, the nature of the holding company and its subsidiaries, and their significant asset base, made gross assets the most appropriate benchmark for determining materiality. Our overall risk assessment was then used to set performance materiality at an appropriate level.

Substantive audit tests were designed after assessing and performing walkthrough tests. The walkthrough testing confirmed that the documented systems, designed as preventive measures against fraud and error, appear to be operating effectively. Substantive testing was conducted on a sample representative of the population to identify any errors. This testing did not reveal any material misstatements in the areas tested.

The audit’s substantive tests concluded that there were no material errors in the key risk areas of income recognition and management override.

The audit also considered whether the entity was exposed to material risk of error due to non-compliance with laws and regulations relevant to the organization. No material risks were identified in this area.

Management assessed that there is no going concern risk. The audit reviewed budgets, management accounts, and board minutes, and agreed with management's conclusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MIMI & MARBLE HOLDINGS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul Underwood (Senior Statutory Auditor)
for and on behalf of Morris Crocker Limited
Chartered Accountants
Statutory Auditors
Station House
North Street
Havant
Hampshire
PO9 1QU

11 November 2024

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

Year ended Period
31.3.24 22.9.22 to 31.3.23
Notes £    £    £    £   

TURNOVER 45,282,867 8,122,423

Cost of sales 31,238,344 4,598,390
GROSS PROFIT 14,044,523 3,524,033

Distribution costs 381,358 -
Administrative expenses 9,975,794 672,235
10,357,152 672,235
OPERATING PROFIT 4 3,687,371 2,851,798


Interest payable and similar expenses 5 412,249 24,038
PROFIT BEFORE TAXATION 3,275,122 2,827,760

Tax on profit 6 830,412 377,255
PROFIT FOR THE FINANCIAL YEAR 2,444,710 2,450,505
Profit attributable to:
Owners of the parent 2,444,710 2,450,505

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

Period
22.9.22
Year ended to
31.3.24 31.3.23
Notes £    £   

PROFIT FOR THE YEAR 2,444,710 2,450,505


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,444,710

2,450,505

Total comprehensive income attributable to:
Owners of the parent 2,444,710 2,450,505

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

CONSOLIDATED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 (5,581,701 ) (9,968,036 )
Tangible assets 11 4,152,309 1,492,026
Investments 12 1,302,783 1,137,484
(126,609 ) (7,338,526 )

CURRENT ASSETS
Stocks 13 8,957,181 6,747,776
Debtors 14 7,248,077 2,698,987
Cash at bank and in hand 1,499,270 2,607,956
17,704,528 12,054,719
CREDITORS
Amounts falling due within one year 15 12,081,253 2,163,151
NET CURRENT ASSETS 5,623,275 9,891,568
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,496,666

2,553,042

CREDITORS
Amounts falling due after more than one
year

16

(2,038,513

)

(880,634

)

PROVISIONS FOR LIABILITIES 19 (804,269 ) (356,823 )
NET ASSETS 2,653,884 1,315,585

CAPITAL AND RESERVES
Called up share capital 20 2 2
Retained earnings 21 2,653,882 1,315,583
SHAREHOLDERS' FUNDS 2,653,884 1,315,585

The financial statements were approved by the director and authorised for issue on 7 November 2024 and were signed by:





N M I Gillanders - Director


MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

COMPANY BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 3 3
3 3

CURRENT ASSETS
Debtors 14 393,396 393,395

CREDITORS
Amounts falling due within one year 15 393,397 393,396
NET CURRENT LIABILITIES (1 ) (1 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2

2

CAPITAL AND RESERVES
Called up share capital 20 2 2
SHAREHOLDERS' FUNDS 2 2

Company's profit for the financial year - 393,395

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 7 November 2024 and were signed by:





N M I Gillanders - Director


MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 22 September 2022 - (1,688 ) (1,688 )

Changes in equity
Issue of share capital 2 - 2
Dividends - (1,133,234 ) (1,133,234 )
Total comprehensive income - 2,450,505 2,450,505
Balance at 31 March 2023 2 1,315,583 1,315,585

Changes in equity
Dividends - (1,106,411 ) (1,106,411 )
Total comprehensive income - 2,444,710 2,444,710
Balance at 31 March 2024 2 2,653,882 2,653,884

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

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

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 2 - 2
Dividends - (393,395 ) (393,395 )
Total comprehensive income - 393,395 393,395
Balance at 31 March 2023 2 - 2

Changes in equity
Balance at 31 March 2024 2 - 2

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

Period
22.9.22
Year ended to
31.3.24 31.3.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,112,161 (5,678,307 )
Interest paid (700,477 ) -
Interest element of hire purchase
payments paid

(128,523

)

(24,465

)
Finance costs paid 416,751 -
Tax paid (43,868 ) (79,899 )
Net cash from operating activities 656,044 (5,782,671 )

Cash flows from investing activities
Purchase of intangible fixed assets (3,767,644 ) 10,879,094
Purchase of tangible fixed assets (1,393,052 ) (119,225 )
Purchase of fixed asset investments (165,299 ) (1,137,484 )
Sale of intangible fixed assets 19,549 -
Sale of tangible fixed assets 30,322 -
Net cash from investing activities (5,276,124 ) 9,622,385

Cash flows from financing activities
New loans in year 5,850,000 -
Loan repayments in period (696,221 ) (43,531 )
Capital repayments in year (535,974 ) (54,995 )
Share issue - 2
Equity dividends paid (1,106,411 ) (1,133,234 )
Net cash from financing activities 3,511,394 (1,231,758 )

(Decrease)/increase in cash and cash equivalents (1,108,686 ) 2,607,956
Cash and cash equivalents at
beginning of year

2

2,607,956

-

Cash and cash equivalents at end of
year

2

1,499,270

2,607,956

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

Period
22.9.22
Year ended to
31.3.24 31.3.23
£    £   
Profit before taxation 3,275,122 2,827,760
Depreciation charges 606,411 124,845
Profit on disposal of fixed assets (5,669 ) -
Amortisation charges (602,783 ) (911,058 )
Impairment loss 312,391 -
Bad debts - Non cash item 339,158 -
Finance costs 412,249 24,038
4,336,879 2,065,585
Increase in stocks (2,209,405 ) (6,747,776 )
Increase in trade and other debtors (4,549,090 ) (2,698,986 )
Increase in trade and other creditors 3,533,777 1,702,870
Cash generated from operations 1,112,161 (5,678,307 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 1,499,270 2,607,956
Period ended 31 March 2023
31.3.23 22.9.22
£    £   
Cash and cash equivalents 2,607,956 -


MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 2,607,956 (1,108,686 ) 1,499,270
2,607,956 (1,108,686 ) 1,499,270
Debt
Finance leases (745,391 ) (1,944,217 ) (2,689,608 )
Debts falling due within 1 year (167,085 ) (5,667,810 ) (5,834,895 )
Debts falling due after 1 year (384,571 ) 384,571 -
(1,297,047 ) (7,227,456 ) (8,524,503 )
Total 1,310,909 (8,336,142 ) (7,025,233 )

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Mimi & Marble Holdings 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 General Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Changes in accounting estimates
There has been a significant change in the amortization estimate for intangible assets. This change has been applied prospectively.

CategoryPrevious PolicyNew Policy
Computer softwareStraight line over 10 yearsStraight line over 5 years

This change in policy has been implemented to better reflect the usage and economic benefit derived from this asset. The revised amortisation rate is intended to provide a more accurate allocation of the cost of intangible fixed assets over their useful lives.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of twelve years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost and 15% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other 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

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade 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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS
Period
22.9.22
Year ended to
31.3.24 31.3.23
£    £   
Wages and salaries 9,673,728 1,316,162
Social security costs 504,206 52,163
Other pension costs 84,481 13,157
10,262,415 1,381,482

The average number of employees during the year was as follows:
Period
22.9.22
Year ended to
31.3.24 31.3.23

Direct 78 44
Support 50 43
128 87

The average number of employees by undertakings that were proportionately consolidated during the year was 128 (2023 - 87 ) .

Period
22.9.22
Year ended to
31.3.24 31.3.23
£    £   
Director's remuneration 82,883 8,144

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period
22.9.22
Year ended to
31.3.24 31.3.23
£    £   
Hire of plant and machinery 261,624 76,709
Other operating leases 41,097 20,686
Depreciation - owned assets 1,134,608 124,845
Profit on disposal of fixed assets (5,669 ) -
Goodwill amortisation (602,201 ) (912,449 )
Computer software amortisation 10,731 1,391
Health and Safety 38,692 (821 )

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
22.9.22
Year ended to
31.3.24 31.3.23
£    £   
Bank interest (11,650 ) (21,537 )
Bank loan interest (11,386 ) 21,110
Loan interest 306,762 -
Hire purchase interest 128,523 24,465
412,249 24,038

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
22.9.22
Year ended to
31.3.24 31.3.23
£    £   
Current tax:
UK corporation tax 382,966 123,767

Deferred tax 447,446 253,488
Tax on profit 830,412 377,255

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
Period
22.9.22
Year ended to
31.3.24 31.3.23
£    £   
Ordinary share shares of 1 each
Interim 1,106,411 1,133,234

9. PRIOR YEAR ADJUSTMENT

Cashflow statement:
An adjustment made to the prior period figures in our cash flow statement. Non-cash items pertaining to hire purchases were previously disclosed within the cash flow from operations note and on the face of the cashflow statement under financing activities, which was found to be incorrect.This restatement ensures greater accuracy and transparency in our financial reporting, aligning with the principles of FRS 102.

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. INTANGIBLE FIXED ASSETS

Group
Computer
Goodwill software Totals
£    £    £   
COST
At 1 April 2023 (10,949,386 ) 70,292 (10,879,094 )
Additions 3,766,244 48,170 3,814,414
Disposals (3,495 ) (16,637 ) (20,132 )
At 31 March 2024 (7,186,637 ) 101,825 (7,084,812 )
AMORTISATION
At 1 April 2023 (912,449 ) 1,391 (911,058 )
Amortisation for year (602,201 ) 10,731 (591,470 )
Eliminated on disposal (583 ) - (583 )
At 31 March 2024 (1,515,233 ) 12,122 (1,503,111 )
NET BOOK VALUE
At 31 March 2024 (5,671,404 ) 89,703 (5,581,701 )
At 31 March 2023 (10,036,937 ) 68,901 (9,968,036 )

The group is currently in the process of developing computer software. The project is still ongoing and has not yet been completed. In accordance with FRS 102, amortisation of the software should commence only when commercial production has started or when the developed product or service is put into use.

As the development costs capitalised have not yet resulted in a product that is in commercial production or use, no amortisation has been charged.

In accordance with FRS 102, negative goodwill arises when the fair value of the identifiable net assets acquired in a business combination exceeds the cost of acquisition.

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. TANGIBLE FIXED ASSETS

Group
Improvements
Right of to Plant and
Use asset property machinery
£    £    £   
COST
At 1 April 2023 - - 176,866
Additions 1,762,184 59,187 162,123
Disposals - - -
Impairments - - -
Reclassification/transfer - 649,054 -
At 31 March 2024 1,762,184 708,241 338,989
DEPRECIATION
At 1 April 2023 - - 21,409
Charge for year 284,192 82,744 50,873
Eliminated on disposal - - -
Impairments - - -
At 31 March 2024 284,192 82,744 72,282
NET BOOK VALUE
At 31 March 2024 1,477,992 625,497 266,707
At 31 March 2023 - - 155,457

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 287,636 1,126,488 25,881 1,616,871
Additions 835,608 1,242,864 69,969 4,131,935
Disposals - (33,423 ) - (33,423 )
Impairments (334,605 ) - - (334,605 )
Reclassification/transfer (649,054 ) - - -
At 31 March 2024 139,585 2,335,929 95,850 5,380,778
DEPRECIATION
At 1 April 2023 17,926 82,989 2,521 124,845
Charge for year (4,279 ) 692,422 28,656 1,134,608
Eliminated on disposal - (8,770 ) - (8,770 )
Impairments (22,214 ) - - (22,214 )
At 31 March 2024 (8,567 ) 766,641 31,177 1,228,469
NET BOOK VALUE
At 31 March 2024 148,152 1,569,288 64,673 4,152,309
At 31 March 2023 269,710 1,043,499 23,360 1,492,026

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. TANGIBLE FIXED ASSETS - continued

Group

In accordance with FRS 102, the Group recognizes right-of-use assets for property leases within tangible fixed assets. These assets are recognized at the present value of the lease payments over the lease term.

As of 31 March 2024, the Group has recognized right-of-use assets for various property leases.

12. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 1 April 2023 1,137,484
Additions 165,299
At 31 March 2024 1,302,783
NET BOOK VALUE
At 31 March 2024 1,302,783
At 31 March 2023 1,137,484
Company
Investment
in
subsidiaries
£   
COST
At 1 April 2023
and 31 March 2024 3
NET BOOK VALUE
At 31 March 2024 3
At 31 March 2023 3


The groups holds an investment in Digital Buildings Limited, comprising 11,278 shares.

As of 31 March 2024, the investment in Digital Buildings Limited is recorded at a cost of £1,302,783. The Company assesses the investment for impairment on an ongoing basis and makes necessary adjustments to reflect any decline in value that is not recoverable.

13. STOCKS

Group
2024 2023
£    £   
Stocks 354,354 -
Work-in-progress 8,602,827 6,747,776
8,957,181 6,747,776

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 2,253,937 699,681 - -
Loan - Supply Life 47,476 47,476 - -
Amounts owed by group undertakings - 1 393,395 393,395
Other debtors 1,468,799 33,030 - -
Loan - New Elite Ltd 734 734 - -
Retentions 95,280 21,972 - -
Directors' current accounts 1 - 1 -
VAT 210,606 443,195 - -
Prepayments 3,171,244 1,452,898 - -
7,248,077 2,698,987 393,396 393,395

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 17) 5,834,895 167,085 - -
Hire purchase contracts (see note 18) 651,095 249,328 - -
Trade creditors 3,173,891 1,365,629 - -
American Express Card - 11,450 - -
Amounts owed to group undertakings - - 393,397 393,396
Corporation tax 382,966 43,868 - -
Social security and other taxes 557,317 78,111 - -
Other creditors 548,020 4,505 - -
Retentions 383,657 - - -
Pension Contribution unpaid 30,107 13,410 - -
Directors' current accounts - 24,347 - -
Accrued expenses 519,305 205,418 - -
12,081,253 2,163,151 393,397 393,396

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2024 2023
£    £   
Bank loans (see note 17) - 384,571
Hire purchase contracts (see note 18) 2,038,513 496,063
2,038,513 880,634

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

17. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 5,834,895 167,085
Amounts falling due between one and two years:
Bank loans - 1-2 years - 160,000
Amounts falling due between two and five years:
Bank loans - 2-5 years - 224,571

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 651,095 249,328
Between one and five years 2,038,513 496,063
2,689,608 745,391

19. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 804,269 356,823

Group
Deferred
tax
£   
Balance at 1 April 2023 356,823
Accelerated capital allowances 470,728
Tax loss (23,282 )
Balance at 31 March 2024 804,269

MIMI & MARBLE HOLDINGS LIMITED (REGISTERED NUMBER: 14369867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as
restated
£    £   
2 Ordinary share 1 2 2

21. RESERVES

Group
Retained
earnings
£   

At 1 April 2023 1,315,583
Profit for the year 2,444,710
Dividends (1,106,411 )
At 31 March 2024 2,653,882