Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseNo description of principal activity44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11755084 2023-02-01 2024-01-31 11755084 2022-02-01 2023-01-31 11755084 2024-01-31 11755084 2023-01-31 11755084 2022-02-01 11755084 1 2023-02-01 2024-01-31 11755084 1 2022-02-01 2023-01-31 11755084 d:Director3 2023-02-01 2024-01-31 11755084 e:CurrentFinancialInstruments 2024-01-31 11755084 e:CurrentFinancialInstruments 2023-01-31 11755084 e:Non-currentFinancialInstruments 6 2024-01-31 11755084 e:Non-currentFinancialInstruments 6 2023-01-31 11755084 e:CurrentFinancialInstruments e:WithinOneYear 2024-01-31 11755084 e:CurrentFinancialInstruments e:WithinOneYear 2023-01-31 11755084 e:Non-currentFinancialInstruments e:AfterOneYear 2024-01-31 11755084 e:Non-currentFinancialInstruments e:AfterOneYear 2023-01-31 11755084 e:ShareCapital 2023-02-01 2024-01-31 11755084 e:ShareCapital 2024-01-31 11755084 e:ShareCapital 2022-02-01 2023-01-31 11755084 e:ShareCapital 2023-01-31 11755084 e:ShareCapital 2022-02-01 11755084 e:SharePremium 2023-02-01 2024-01-31 11755084 e:SharePremium 2024-01-31 11755084 e:SharePremium 1 2023-02-01 2024-01-31 11755084 e:SharePremium 2022-02-01 2023-01-31 11755084 e:SharePremium 2023-01-31 11755084 e:SharePremium 2022-02-01 11755084 e:SharePremium 1 2022-02-01 2023-01-31 11755084 e:OtherMiscellaneousReserve 2024-01-31 11755084 e:OtherMiscellaneousReserve 1 2023-02-01 2024-01-31 11755084 e:OtherMiscellaneousReserve 2022-02-01 2023-01-31 11755084 e:OtherMiscellaneousReserve 2023-01-31 11755084 e:OtherMiscellaneousReserve 2022-02-01 11755084 e:OtherMiscellaneousReserve 1 2022-02-01 2023-01-31 11755084 e:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 11755084 e:RetainedEarningsAccumulatedLosses 2024-01-31 11755084 e:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 11755084 e:RetainedEarningsAccumulatedLosses 2023-01-31 11755084 e:RetainedEarningsAccumulatedLosses 2022-02-01 11755084 d:OrdinaryShareClass1 2023-02-01 2024-01-31 11755084 d:OrdinaryShareClass1 2024-01-31 11755084 d:OrdinaryShareClass1 2023-01-31 11755084 d:FRS102 2023-02-01 2024-01-31 11755084 d:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 11755084 d:FullAccounts 2023-02-01 2024-01-31 11755084 d:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11755084 6 2023-02-01 2024-01-31 11755084 f:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11755084


NEW DAWN METALS LIMITED
Formerly known as Optiva Resources Limited
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

 
NEW DAWN METALS LIMITED
REGISTERED NUMBER: 11755084

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
789
789

  
789
789

Current assets
  

Debtors: amounts falling due within one year
 5 
382,214
382,214

Cash at bank and in hand
 6 
1,485
10,592

  
383,699
392,806

Creditors: amounts falling due within one year
 7 
(204,798)
(177,424)

Net current assets
  
 
 
178,901
 
 
215,382

Total assets less current liabilities
  
179,690
216,171

Creditors: amounts falling due after more than one year
  
(50,000)
-

  

Net assets
  
129,690
216,171


Capital and reserves
  

Called up share capital 
 9 
97
93

Share premium account
  
1,697,232
1,502,155

Other reserves
  
25,000
195,081

Profit and loss account
  
(1,592,639)
(1,481,158)

  
129,690
216,171


Page 1

 
NEW DAWN METALS LIMITED
REGISTERED NUMBER: 11755084
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 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 by: 


................................................
C D Douglas-Hamilton
Director

Date: 18 December 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
NEW DAWN METALS LIMITED
 

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


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

£
£
£
£
£


At 1 February 2022
87
1,301,066
-
(633,728)
667,425


Comprehensive income for the year

Loss for the year
-
-
-
(847,430)
(847,430)


Other comprehensive income for the year
-
-
-
-
-


Total comprehensive income for the year
-
-
-
(847,430)
(847,430)


Contributions by and distributions to owners

Shares issued during the year
6
201,089
-
-
201,095

Funds received in advance
-
-
195,081
-
195,081


Total transactions with owners
6
201,089
195,081
-
396,176



At 1 February 2023
93
1,502,155
195,081
(1,481,158)
216,171


Comprehensive income for the year

Loss for the year
-
-
-
(111,481)
(111,481)


Contributions by and distributions to owners

Shares issued during the year
4
195,077
-
-
195,081

Funds received in advance
-
-
(170,081)
-
(170,081)


At 31 January 2024
97
1,697,232
25,000
(1,592,639)
129,690


The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
NEW DAWN METALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Optiva Resources Limited is a private limited company incorporated in England and Wales, registered number 11755084. 
The company's registered and trading address is 118 Piccadilly, London, W1J 7NW. 
The principal activity of the company is mining of other non-ferrous metal ores.

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

Going concern

During the year ended 31 January 2024 the company made a loss of £111,748 (2023: £847,430) and had retained losses of £1,592,639 (2023: £1,481,158) as at that date. The financial statements have been prepared on a going concern basis, the applicability of which is dependent on the continuous financial support from directors. The directors have reviewed the company's liabilities over the next 12 months and consider the business to be a going concern. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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 Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
NEW DAWN METALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

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.

 
2.9

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

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


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 February 2023
789



At 31 January 2024
789




Page 5

 
NEW DAWN METALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
2,522
2,522

Amounts owed by group undertakings
376,946
376,946

Other debtors
2,746
2,746

382,214
382,214



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,485
10,592



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
73,659
73,659

Trade creditors
72,490
95,845

Other creditors
29,794
-

Accruals
28,855
7,920

204,798
177,424



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Unsecured convertible loan notes
50,000
-


Page 6

 
NEW DAWN METALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



96,792,776 (2023 - 93,146,666) Ordinary shares of £0.000001 each
97
93


During the period 3,646,110 Ordinary shares of £0.000001 were issued for a total consideration of £195,077.


10.


Related party transactions

Included within debtors is £376,946 (2023: £376,946) owing from African Titanium SASU a subsidiary company. 
Included within other creditors is £18,000 (2023: £nil) owing to a director of the company and £73,659 (2023: £73,659) owing to Optiva Securities Limited. These amounts are interest free and repayable on demand. 

Page 7