1 July 2023 v2025.18.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP141544722023-07-012024-06-30141544722024-06-30141544722023-06-3014154472core:AfterOneYear2024-06-3014154472core:AfterOneYear2023-06-3014154472core:ShareCapital2024-06-3014154472core:ShareCapital2023-06-3014154472core:RetainedEarningsAccumulatedLosses2024-06-3014154472core:RetainedEarningsAccumulatedLosses2023-06-3014154472bus:Director12023-07-012024-06-3014154472bus:RegisteredOffice2023-07-012024-06-3014154472core:CostValuation2023-07-0114154472core:AdditionsToInvestments2024-06-3014154472core:OtherIncreaseDecreaseInInvestments2024-06-3014154472core:CostValuation2024-06-301415447212023-07-012024-06-30141544722022-06-072023-06-3014154472countries:EnglandWales2023-07-012024-06-3014154472bus:AuditExempt-NoAccountantsReport2023-07-012024-06-3014154472bus:PrivateLimitedCompanyLtd2023-07-012024-06-3014154472bus:SmallEntities2023-07-012024-06-3014154472bus:FullAccounts2023-07-012024-06-30
Company registration number:
14154472
Mirlem Limited
Unaudited Filleted Financial Statements for the year ended
30 June 2024
Mirlem Limited
Statement of Financial Position
30 June 2024
20242023
Note££
Fixed assets    
Investments 5
38,326,402
 
11,677,446
 
Current assets    
Debtors 6
489,683
 
326,874
 
Cash at bank and in hand
297,700
 
995
 
787,383
 
327,869
 
Net current assets
787,383
 
327,869
 
Total assets less current liabilities 39,113,785   12,005,315  
Creditors: amounts falling due after more than one year 7
(40,171,720
)
(12,851,485
)
Net liabilities
(1,057,935
)
(846,170
)
Capital and reserves    
Called up share capital
6
 
2
 
Profit and loss account
(1,057,941
)
(846,172
)
Shareholders deficit
(1,057,935
)
(846,170
)
For the year ending
30 June 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
26 March 2025
, and are signed on behalf of the board by:
W Loubser
Director
Company registration number:
14154472
Mirlem Limited
Notes to the Financial Statements
Year ended
30 June 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Milner House
,
14 Manchester Square
,
London
,
W1U 3PP
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Investments

Other investments other than loans
£
Cost  
At
1 July 2023
11,677,446
 
Additions
25,394,298
 
Other movements
1,254,658
 
At
30 June 2024
38,326,402
 
Impairment  
At
1 July 2023
and
30 June 2024
-  
Carrying amount  
At
30 June 2024
38,326,402
 
At 30 June 2023
11,677,446
 

6 Debtors

20242023
££
Other debtors
489,683
 
326,874
 
The debtors above include the following amounts falling due after more than one year:
20242023
££
Other debtors
312,879
 
326,874
 

7 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
40,171,720
 
12,851,485