Registration number:
Maistro UK Limited
for the Year Ended 31 December 2024
Maistro UK Limited
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Maistro UK Limited
Company Information
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Director |
Mr D J Rumble |
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Company secretary |
Mr R Croft |
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Registered office |
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Auditors |
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Maistro UK Limited
Strategic Report for the Year Ended 31 December 2024
The director presents his strategic report and financial statements for the year ended 31 December 2024. During this period, the company has maintained its focus on delivering high-quality sourcing and supplier managed services using our platform-based AI-enabled digital procurement services.
Business review
Over the past year, the company has achieved stability in its core trading activities following a realignment of key revenue sources initiated in the previous year. This has been supported by strengthened relationships with significant clients, which we believe will underpin future growth opportunities.
Our strategy to leverage our core platform capabilities in combination with our specialist managed services is more closely aligned with market requirements. Our continued focus on category management in GBS (Global Business Services) procurement through data, technology and artificial intelligence to overcome client sourcing challenges, continues to provide the business with a highly differentiated proposition.
This year we complemented our GBS offering by expanding platform-led managed services and diversifying revenues through enhanced buy-build-operate capabilities in Technology Services. Across our portfolio we will continue to focus on speed to value, repeatability, and measurable outcomes for clients.
Performance focus
The company focuses on both pre and post award procurement and sourcing, combining technology with category expertise to deliver value across the contract lifecycle. Our managed services blend human expertise with platform capabilities in automation, analytics, and AI to challenge traditional outsourcing models. Our continued investment in automated workflows, AI integration, and enhanced analytics provides clients with stronger spend management, service delivery controls, and clearer visibility of performance across complex supply chains and ecosystems.
Alongside our financial performance we consider the following key strategic measures:
- New client wins/expansions – % uplift, yoy
- Multi-year managed services contracts – % uplift, yoy
- Pipeline cover improvement – % uplift, yoy
- Average sales cycle reduction – % improvement, yoy
- Revenue per employee - % uplift, yoy
Strategic outlook
Looking ahead, we will build on the progress of 2024 by scaling our managed services activities in core categories and adjacent technology services as clients continue to seek support for smarter sourcing solutions to address ever more complex requirements.
In parallel we will continue to invest in data integrity, platform resilience, and embedding responsible AI focused on accuracy and relevance. The increased usage of our platform that we have seen through 2024 and expect to grow in 2025 enriches our dataset, improving supplier selection and post-award performance which positions us strongly as buyers seek faster time-to-value, cost certainty, and post-award outcomes.
We will continue to differentiate with whole-of-market supplier reach in our chosen categories, delivering value and certainty to clients, mitigating risks around sourcing cycles, and ensuring cost discipline.
Maistro UK Limited
Strategic Report for the Year Ended 31 December 2024
Closing
Thank you to our clients, partners, and colleagues for a year of disciplined execution and meaningful progress. We enter 2025 with a stronger model, a clearer proposition, and a focused plan to grow sustainably.
Approved and authorised by the
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Maistro UK Limited
Director's Report for the Year Ended 31 December 2024
The director presents his report and the financial statements for the year ended 31 December 2024.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is that it owns and operates online propretary marketplaces, which enable businesses to buy, sell and pay for business services, including marketing, design, advertising and technology services.
Going concern
The company’s financial statements have been prepared on a going concern basis, which assumes that the company will be able to realise its assets and discharge its liabilities in the normal course of business.
During 2024, the Directors continued their Business Strategy of building the company’s capabilities and changing its base operating model to create a sustainable business financially, thereby laying the foundations for a return to profitability in 2025, and continue to grow and expand its technology platform.
To fund the strategy, the company raised further funds during 2024 of £0.45m, through a secured debt instrument.
Importantly, in the first six months of 2025, the company has become cash generative.
Furthermore, the Directors have prepared financial forecasts for the 18 months to 31 December 2026, which show that the company continues to be cash generative.
As a result the Directors are confident that the company has adequate resources to continue to operate for at least twelve months from the date of approval of these financial statements.
The Directors have therefore continued to adopt the going concern basis in preparing the Directors’ Report and Financial Statements.
Disclosure of information to the auditors
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Maistro UK Limited
Director's Report for the Year Ended 31 December 2024
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Maistro UK Limited
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
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• |
select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Maistro UK Limited
Independent Auditor's Report to the Members of Maistro UK Limited
Opinion
We have audited the financial statements of Maistro UK Limited (the 'company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss 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. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Maistro UK Limited
Independent Auditor's Report to the Members of Maistro UK Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Director's Report has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit; or |
• | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities [set out on page 6], the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Maistro UK Limited
Independent Auditor's Report to the Members of Maistro UK Limited
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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We obtained an understanding of the legal and regulatory frameworks that are applicable to this company and its sector and determined that the most significant are those relating to the reporting framework and the relevant UK tax legislation. |
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We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. |
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As an audit engagement team, we assessed the susceptibility of the company’s financial statements to material misstatement including how fraud might occur and considered the opportunities and incentives that may exist within the company for fraud. We considered the controls that the company has established to address the risks identified to prevent, deter and detect fraud; and how the management and directors monitor those controls. |
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Based on our understanding we designed our audit procedures to identify non-compliance with laws and regulations. Those procedures involved: - enquiries of management and those charged with governance; - journal entry testing; - assessing whether judgements in making accounting estimates are indicative of a potential bias; and – evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. |
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Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk or other risk of material misstatement. These procedures included revenue recognition and testing manual journals and were designed to provide reasonable assurance that the financial statements were free from fraud or error. |
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We remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shropshire
SY2 6LG
Maistro UK Limited
Profit and Loss Account for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Turnover |
|
|
|
|
Cost of sales |
( |
( |
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|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Operating loss |
(1,307,323) |
(1,202,173) |
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar expenses |
- |
( |
|
|
8,827 |
(10,993) |
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Loss before tax |
( |
( |
|
|
Tax on loss |
|
|
|
|
Loss for the financial year |
( |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Maistro UK Limited
(Registration number: 06211244)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Investments |
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|
|
|
|
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||
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Current assets |
|||
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Debtors |
|
|
|
|
Cash at bank and in hand |
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|
|
|
|
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||
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Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
- |
( |
|
|
Net liabilities |
( |
( |
|
|
Capital and reserves |
|||
|
Called up share capital |
19,619 |
19,619 |
|
|
Share premium reserve |
15,136,108 |
15,136,108 |
|
|
Other reserves |
66,385 |
66,385 |
|
|
Retained earnings |
(36,451,814) |
(35,281,580) |
|
|
Shareholders' deficit |
(21,229,702) |
(20,059,468) |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Maistro UK Limited
Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Share premium |
Other reserves |
Retained earnings |
Total |
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|
At 1 January 2024 |
|
|
|
( |
( |
|
Loss for the year |
- |
- |
- |
( |
( |
|
At 31 December 2024 |
|
|
|
( |
( |
|
Share capital |
Share premium |
Other reserves |
Retained earnings |
Total |
|
|
At 1 January 2023 |
|
|
|
( |
( |
|
Loss for the year |
- |
- |
- |
( |
( |
|
At 31 December 2023 |
19,619 |
15,136,108 |
66,385 |
(35,281,580) |
(20,059,468) |
Maistro UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Summary of disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and the Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
Name of parent of group
These financial statements are consolidated in the financial statements of Maistro Limited.
The financial statements of Maistro Limited may be obtained from Companies House.
Group accounts not prepared
Maistro UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Going concern
The company’s financial statements have been prepared on a going concern basis, which assumes that the company will be able to realise its assets and discharge its liabilities in the normal course of business.
During 2024, the Directors continued their Business Strategy of building the company’s capabilities and changing its base operating model to create a sustainable business financially, thereby laying the foundations for a return to profitability in 2025, and continue to grow and expand its technology platform.
To fund the strategy, the company raised further funds during 2024 of £0.45m, through a secured debt instrument.
Importantly, in the first six months of 2025, the company has become cash generative.
Furthermore, the Directors have prepared financial forecasts for the 18 months to 31 December 2026, which show that the company continues to be cash generative.
As a result the Directors are confident that the company has adequate resources to continue to operate for at least twelve months from the date of approval of these financial statements.
The Directors have therefore continued to adopt the going concern basis in preparing the Directors’ Report and Financial Statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue from a contract to provide services when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Maistro UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
R&D credits are recognised with the tax charge/credit in the Financial Statements when amounts due can be reliably estimated and there is sufficient certainty of receipt.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
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Development expenditure |
straight line over four years |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Maistro UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Maistro UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
|
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
|
Loss before tax |
Arrived at after charging/(crediting)
|
2024 |
2023 |
|
|
Depreciation expense |
- |
|
|
Amortisation expense |
|
|
|
Intangible assets |
|
Development expenditure |
Computer software |
Total |
|
|
Cost or valuation |
|||
|
At 1 January 2024 |
|
|
|
|
Additions internally developed |
|
- |
|
|
At 31 December 2024 |
|
|
|
|
Amortisation |
|||
|
At 1 January 2024 |
|
|
|
|
Amortisation charge |
|
- |
|
|
At 31 December 2024 |
|
|
|
|
Carrying amount |
|||
|
At 31 December 2024 |
|
- |
|
|
At 31 December 2023 |
|
- |
|
Maistro UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Investments |
|
2024 |
2023 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 January 2024 |
|
|
At 31 December 2024 |
|
|
Carrying amount |
|
|
At 31 December 2024 |
|
|
At 31 December 2023 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2024 |
2023 |
|||
|
Subsidiary undertakings |
||||
|
|
12021 Orange St
USA |
|
|
|
|
Debtors |
|
Current |
Note |
2024 |
2023 |
|
Trade debtors |
|
|
|
|
Amounts owed by related parties |
- |
|
|
|
Prepayments |
|
|
|
|
|
|
Maistro UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Creditors |
Creditors: amounts falling due within one year
|
Note |
2024 |
2023 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
|
|
Taxation and social security |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Other creditors |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
Note |
2024 |
2023 |
|
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
|
Other non-current financial liabilities |
|
|
|
|
|
|
Other non-current financial liabilities relate to amounts owed to the parent company.
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
15,205 |
|
15,205 |
|
|
|
4,414 |
|
4,414 |
|
|
|
|
|
|
Maistro UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Reserves |
Share premium - The amount of ordinary capital contributed in excess of the nominal value of each Ordinary share.
Share-based payment reserve - Reserve for share-based payments on options granted during the current or prior period, not yet exercised.
Profit and loss reserve - All other net gains and losses and transactions with owners not recognised elsewhere.
Capital contribution reserve - Amounts invested in the company by its parent entity not in the form of Ordinary shares.
|
Share-based payments |
The company’s parent, Maistro Limited, has an approved EMI scheme in place to issue share options to employees of the company. During the year, no options over the shares of the company’s parent, Maistro Limited, were issued. During the year 200,654 options lapsed or were surrendered.
During the year, Maistro Limited undertook a share consolidation to convert its existing £1 Ordinary shares into £300 Ordinary shares. Following the consolidation and at the year end, 362 share options were in existence. The options vest provided the employees remain in the service of Maistro UK Limited for a period of between 2 and 4 years from the grant date but only on condition of an exit event arising. No charge has
been recognised in respect of these options (2023 - £nil) as vesting is contingent on a sale.
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Related party transactions |
The company is exempt under FRS102 33.1A from the requirement to disclose transactions with group companies that are wholly owned.
During the year the company made purchases of £139,645 (2023 - £92,946) from companies of which the director holds significant influence. At 31 December 2024 a balance of £14,594 (2023 - £9,702) was included in trade creditors in respect of purchases made.
Maistro UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Parent and ultimate parent undertaking |
The company's immediate parent is
The most senior parent entity producing publicly available financial statements is