Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3111false2023-04-01falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08628899 2023-04-01 2024-03-31 08628899 2022-04-01 2023-03-31 08628899 2024-03-31 08628899 2023-03-31 08628899 c:Director1 2023-04-01 2024-03-31 08628899 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 08628899 d:FreeholdInvestmentProperty 2024-03-31 08628899 d:FreeholdInvestmentProperty 2023-03-31 08628899 d:CurrentFinancialInstruments 2024-03-31 08628899 d:CurrentFinancialInstruments 2023-03-31 08628899 d:Non-currentFinancialInstruments 2024-03-31 08628899 d:Non-currentFinancialInstruments 2023-03-31 08628899 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08628899 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08628899 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 08628899 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08628899 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 08628899 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 08628899 d:ShareCapital 2024-03-31 08628899 d:ShareCapital 2023-03-31 08628899 d:RevaluationReserve 2023-04-01 2024-03-31 08628899 d:RevaluationReserve 2024-03-31 08628899 d:RevaluationReserve 2023-03-31 08628899 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 08628899 d:RetainedEarningsAccumulatedLosses 2024-03-31 08628899 d:RetainedEarningsAccumulatedLosses 2023-03-31 08628899 c:FRS102 2023-04-01 2024-03-31 08628899 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08628899 c:FullAccounts 2023-04-01 2024-03-31 08628899 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08628899 6 2023-04-01 2024-03-31 08628899 d:OtherDeferredTax 2024-03-31 08628899 d:OtherDeferredTax 2023-03-31 08628899 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 08628899









MALIBI INVESTMENTS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
MALIBI INVESTMENTS LTD
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
MALIBI INVESTMENTS LTD
REGISTERED NUMBER: 08628899

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
100
100

Investment property
 5 
3,515,000
3,505,000

  
3,515,100
3,505,100

Current assets
  

Debtors: amounts falling due within one year
 6 
5,215,218
5,244,023

Cash at bank and in hand
 7 
43,792
1,633

  
5,259,010
5,245,656

Creditors: amounts falling due within one year
 8 
(650,002)
(551,303)

Net current assets
  
 
 
4,609,008
 
 
4,694,353

Total assets less current liabilities
  
8,124,108
8,199,453

Creditors: amounts falling due after more than one year
 9 
(5,759,600)
(5,759,600)

Provisions for liabilities
  

Deferred tax
 11 
(404,745)
(404,745)

  
 
 
(404,745)
 
 
(404,745)

Net assets
  
1,959,763
2,035,108


Capital and reserves
  

Called up share capital 
  
300
300

Revaluation reserve
 12 
1,221,734
1,311,373

Profit and loss account
 12 
737,729
723,435

  
1,959,763
2,035,108


Page 1

 
MALIBI INVESTMENTS LTD
REGISTERED NUMBER: 08628899
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 13 February 2025.




B Patel
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MALIBI INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Malibi Investments Ltd is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 08628899. The address of the registered office is Ambe House, Commerce Way, Edenbridge, Kent, TN8 6ED. The company's principal activity during the year continued to be 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 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises of revenue recognised by the company in respect of rent invoiced, exclusive of Value Added Tax.
Rental income is recognised for the period for which it is payable.

 
2.3

Finance costs

Finance costs are charged to profit or loss 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.

 
2.4

Borrowing costs

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

Page 3

 
MALIBI INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 balance sheet 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 balance sheet 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 balance sheet date.


 
2.6

Investment property

Investment property is carried at fair value determined annually by the director 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 profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.8

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.

Page 4

 
MALIBI INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Creditors

Short-term 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.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
100



At 31 March 2024
100




Page 5

 
MALIBI INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
3,505,000


Additions at cost
10,000



At 31 March 2024
3,515,000

The 2024 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,886,021
1,876,021

1,886,021
1,876,021

Page 6

 
MALIBI INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
1,047
14,720

Other debtors
5,214,171
5,229,303

5,215,218
5,244,023



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
43,792
1,633

43,792
1,633



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
100
100

Corporation tax
-
2,370

Other creditors
648,867
547,143

Accruals and deferred income
1,035
1,690

650,002
551,303



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,759,600
5,759,600

5,759,600
5,759,600


Page 7

 
MALIBI INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Bank loans
5,759,600
5,759,600


5,759,600
5,759,600


5,759,600
5,759,600


The bank loans included in the accounts is secured against the property held within the company and some associated properties held outside of this company. 


11.


Deferred taxation




2024


£






At beginning of year
(404,745)



At end of year
(404,745)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value movements
404,745
404,745

404,745
404,745

Page 8

 
MALIBI INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Reserves

Revaluation reserve

The investment property revaluation reserve represents cumulative effects of fair value adjustments net of deferred tax and other adjustments.

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.


13.


Related party transactions

At the year-end the following amounts were due from/(to) the related parties:


2024
2023
£
£

Other related parties
4,565,934
4,697,662
4,565,934
4,697,662


14.


Controlling party

The ultimate controlling party at the year end was B Patel, by virtue of his majority shareholding in the company.

 
Page 9