Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 10932353 Mr Nicholas Clarke Mr Nicholas Davis Nicholas Clarke Marlborough House, 298 Regents Park Road, London N£ 2SZ true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10932353 2023-04-30 10932353 2024-04-30 10932353 2023-05-01 2024-04-30 10932353 frs-core:CurrentFinancialInstruments 2024-04-30 10932353 frs-core:SharePremium 2024-04-30 10932353 frs-core:ShareCapital 2024-04-30 10932353 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 10932353 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10932353 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 10932353 frs-bus:SmallEntities 2023-05-01 2024-04-30 10932353 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10932353 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 10932353 1 2023-05-01 2024-04-30 10932353 frs-core:CostValuation 2023-04-30 10932353 frs-core:CostValuation 2024-04-30 10932353 frs-core:ProvisionsForImpairmentInvestments 2023-04-30 10932353 frs-core:ProvisionsForImpairmentInvestments 2024-04-30 10932353 frs-bus:Director1 2023-05-01 2024-04-30 10932353 frs-bus:Director2 2023-05-01 2024-04-30 10932353 frs-countries:EnglandWales 2023-05-01 2024-04-30 10932353 2022-04-30 10932353 2023-04-30 10932353 2022-05-01 2023-04-30 10932353 frs-core:CurrentFinancialInstruments 2023-04-30 10932353 frs-core:SharePremium 2023-04-30 10932353 frs-core:ShareCapital 2023-04-30 10932353 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 10932353
Midus Holdings Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Company Information 1
Balance Sheet 2
Notes to the Financial Statements 3—4
Page 1
Company Information
Directors Mr Nicholas Clarke
Mr Nicholas Davis
Company Number 10932353
Registered Office Marlborough House
298 Regents Park Road
London
N3 2SZ
Solicitors Mishcon de Reya
Africa House
70 Kingsway
London
WC2B 6AH
Page 1
Page 2
Balance Sheet
Registered number: 10932353
2024 2023
Notes $ $ $ $
FIXED ASSETS
Investments 4 1 1
1 1
Creditors: Amounts Falling Due Within One Year 5 (1,893,907 ) (1,900,137 )
NET CURRENT ASSETS (LIABILITIES) (1,893,907 ) (1,900,137 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,893,906 ) (1,900,136 )
NET LIABILITIES (1,893,906 ) (1,900,136 )
CAPITAL AND RESERVES
Called up share capital 6 6
Share premium account 4,899,997 4,899,997
Profit and Loss Account (6,793,909 ) (6,800,139 )
SHAREHOLDERS' FUNDS (1,893,906) (1,900,136)
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nicholas Clarke
Director
27 January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Midus Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10932353 . The registered office is Marlborough House, 298 Regents Park Road, London, N3 2SZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared in US$ which is the functional currency of Midus Holdings Limited (the 'Company'). The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the requirements of the Companies Act 2006 as applied to companies subject to the small companies regime. 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 principal accounting policies adopted are set out below.
2.2. lnvestments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.3. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.4. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Investments
Subsidiaries
$
Cost
As at 1 May 2023 1
As at 30 April 2024 1
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 1
As at 1 May 2023 1
At year-end the company directly owns 100% of Midus Global Mining Limited, an investment holding company whose registered office is at Marlborough House, 298 Regents Park Road, London, N3 2SZ.
At year-end the company indirectly owns 100% of Congo Mining Ltd SARLU, a licence holding entity whose registered office is at Villa 100, Agostino Neto Quartier Plateau, Centre-ville, Point-Noire, Congo Republic.
...CONTINUED
Page 3
Page 4
4. Investments - continued
On 15 November 2021,the company and Congo Mining Ltd SARLU, collectively the claimants, filed with the International Centre for Settlement of Investment Disputes (“ICSID”) a Request for Arbitration against Republic of the Congo which was registered on 8 December 2021 and has been assigned ICSID Case Number ARB/21/58. The claimants are seeking an award of monetary compensation equal to the fair value of the Mayoko-Moussondji iron ore project on the date that its mining licence was unlawfully revoked. Clifford Chance are representing the claimants in the arbitration.
5. Creditors: Amounts Falling Due Within One Year
2024 2023
$ $
Other creditors - 6,231
Amounts owed to parent undertaking 1,893,907 1,893,906
1,893,907 1,900,137
6. Related Party Transactions
All purchases from related parties are made at normal market prices. There have been no transactions with related parties who are not members of the group during the year ended 30 April 2024.
7. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Curzon African Holdings Limited . Curzon African Holdings Limited was incorporated in England. The ultimate controlling party is Nicholas Clarke .
Page 4