Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29trueholding company2023-03-01false1false1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13606518 2023-03-01 2024-02-29 13606518 2021-09-07 2023-02-28 13606518 2024-02-29 13606518 2023-02-28 13606518 c:Director1 2023-03-01 2024-02-29 13606518 d:CurrentFinancialInstruments 2024-02-29 13606518 d:CurrentFinancialInstruments 2023-02-28 13606518 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 13606518 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13606518 d:ShareCapital 2024-02-29 13606518 d:ShareCapital 2023-02-28 13606518 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2024-02-29 13606518 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2023-02-28 13606518 c:FRS102 2023-03-01 2024-02-29 13606518 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13606518 c:FullAccounts 2023-03-01 2024-02-29 13606518 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13606518 6 2023-03-01 2024-02-29 13606518 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number:  13606518














MAIA (US) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


 
MAIA (US) LIMITED
REGISTERED NUMBER: 13606518

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
1,759,613
434,659

  
1,759,613
434,659

  

Creditors: amounts falling due within one year
 5 
(1,759,612)
(434,658)

Net current liabilities
  
 
 
(1,759,612)
 
 
(434,658)

Total assets less current liabilities
  
1
1

  

Net assets
  
1
1


Capital and reserves
  

Called up share capital 
  
1
1

  
1
1


Page 1

 
MAIA (US) LIMITED
REGISTERED NUMBER: 13606518
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 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 income and retained earnings 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: 




Sir T P Leahy
Director

Date: 26 February 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
MAIA (US) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act
2006 and registered in England & Wales (no. 13606518). The registered office is 11th Floor, The Plaza,
100 Old Hall Street, Liverpool, Merseyside, United Kingdom, L3 9QJ.
These financial statements present information about the company as an individual undertaking. The
principal activity of the company is that of a holding company.

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.3

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.

 
2.4

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are
Page 3

 
MAIA (US) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.4
Financial instruments (continued)

initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.


3.


Employees




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

Page 4

 
MAIA (US) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Fixed asset investments








Unlisted investments

£



Cost or valuation


At 1 March 2023
434,659


Additions
1,324,954



At 29 February 2024
1,759,613





5.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Other creditors
1,759,612
434,658

1,759,612
434,658



6.


Financial instruments

29 February
28 February
2024
2023
£
£



Financial liabilities


Financial liabilities measured at amortised cost
1,759,612
434,658


Financial liabilities measured at amortised cost comprise of other creditors.


7.


Related party transactions

Included in other creditors is an amount of £1,759,612 (2023: £434,658) owed to Sir T P Leahy, the director. The loan is repayable on demand and no interest has been charged.


8.


Controlling party

The company is under the control of the director.

Page 5