Company registration number 09967602 (England and Wales)
MAIA ASSET MANAGEMENT LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
MAIA ASSET MANAGEMENT LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
MAIA ASSET MANAGEMENT LTD
BALANCE SHEET
AS AT 31 JANUARY 2025
31 January 2025
- 1 -
2025
31 January 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
508,036
400,479
Current assets
Debtors
6
336,590
306,888
Cash at bank and in hand
546,243
513,930
882,833
820,818
Creditors: amounts falling due within one year
7
(268,224)
(285,768)
Net current assets
614,609
535,050
Total assets less current liabilities
1,122,645
935,529
Creditors: amounts falling due after more than one year
8
(369,111)
(284,860)
Net assets
753,534
650,669
Capital and reserves
Called up share capital
10
100,310
100,300
Share premium account
320,000
320,000
Profit and loss reserves
333,224
230,369
Total equity
753,534
650,669
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 27 May 2025 and are signed on its behalf by:
Mr Laurence Boyle
Director
Company registration number 09967602 (England and Wales)
MAIA ASSET MANAGEMENT LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 February 2023
100,300
320,000
606,808
1,027,108
Year ended 31 January 2024:
Profit and total comprehensive income
-
-
475,561
475,561
Dividends
-
-
(852,000)
(852,000)
Balance at 31 January 2024
100,300
320,000
230,369
650,669
Year ended 31 January 2025:
Profit and total comprehensive income
-
-
572,853
572,853
Issue of share capital
10
10
-
10
Dividends
-
-
(469,998)
(469,998)
Balance at 31 January 2025
100,310
320,000
333,224
753,534
MAIA ASSET MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information
MAIA Asset Management Ltd is a private company limited by shares incorporated in England and Wales. The registered office is April Barn, Redditch Road, Ullenham, Warwickshire, B95 5NY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
10% reducing balance
Motor vehicles
Enter depreciation rate via StatDB - cd78
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
MAIA ASSET MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
As lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.8
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.9
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at present value.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
10
9
MAIA ASSET MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -
4
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
470,000
488,234
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
470,000
488,234
5
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 February 2024
40,184
491,187
531,371
Additions
3,036
225,340
228,376
Disposals
(104,157)
(104,157)
At 31 January 2025
43,220
612,370
655,590
Depreciation and impairment
At 1 February 2024
18,291
112,601
130,892
Depreciation charged in the year
2,230
42,658
44,888
Eliminated in respect of disposals
(28,226)
(28,226)
At 31 January 2025
20,521
127,033
147,554
Carrying amount
At 31 January 2025
22,699
485,337
508,036
At 31 January 2024
21,893
378,586
400,479
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Unpaid share capital
100,310
100,300
Other debtors
25,264
18,463
Prepayments and accrued income
211,016
188,125
336,590
306,888
MAIA ASSET MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
7
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
83,569
96,524
Other borrowings
9
16,697
18,475
Corporation tax
155,473
156,674
Other taxation and social security
383
Other creditors
2,267
Accruals and deferred income
12,485
11,445
268,224
285,768
8
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
369,111
268,164
Other borrowings
9
16,696
369,111
284,860
9
Loans and overdrafts
2025
2024
£
£
Other loans
16,697
35,171
Payable within one year
16,697
18,475
Payable after one year
16,696
The long-term loans are secured.
10
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary A shares of £1 each
25,000
25,000
25,000
25,000
Ordinary B shares of £1 each
55,000
55,000
55,000
55,000
Ordinary c shares of £1 each
20,000
20,000
20,000
20,000
100,000
100,000
100,000
100,000
MAIA ASSET MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
10
Share capital
(Continued)
- 7 -
2025
2024
2025
2024
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference A shares of £1 each
100
100
100
100
Preference B shares of £1 each
100
100
100
100
Preference C shares of £1 each
100
100
100
100
Preference D shares of £1 each
10
0
10
-
310
300
310
300
Preference shares classified as equity
310
300
Total equity share capital
100,310
100,300
Alloted Called up Share Capital not paid in the year amounted to £100,310 (2024 : £100,300)
11
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
R H D Gold FCA
Statutory Auditor:
Barnett Ravenscroft Limited
Date of audit report:
27 May 2025
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