Macalvins Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12111287 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 AUGUST 2020 TO 31 MARCH 2021

FOR

MACALVINS GROUP LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Directors:

S Patel

P Rajani

T C A Husain

Registered office:

7 St. John's Road

Harrow

Middlesex

HA1 2EY

Registered number:

12111287 (England and Wales)

Fixed assets

Investments

4

4,431,528

3,000,000

Current assets

Cash at bank and in hand

20,050

50

Creditors

Amounts falling due within one year

5

(20,001

)

-

Net current assets

49

50

Total assets less current liabilities

4,431,577

3,000,050

Creditors

Amounts falling due after more than one year

6

(1,381,527

)

-

Net assets

3,050,050

3,000,050

Capital and reserves

Called up share capital

7

200

200

Fair value reserve

2,999,850

2,999,850

Retained earnings

50,000

-

Shareholders' funds

3,050,050

3,000,050

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2021 and were signed on its behalf by:

S Patel - Director

1.	Statutory information

Macalvins Holdings Limited is a private company, limited by shares, registered in England and Wales.Thecompany's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investments in subsidiaries

Investments in subsidiaries are shown at fair value with changes in fair value recognised in other comprehensive income.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Business combinations

Acquisitions of subsidiaries are accounted under the merger relief provisions where relevant conditions are met and accounted for at fair value. If merger relief provisions are not met, the purchase method is adopted. Under the purchase method the cost of the business combination is measured at the aggregate of the fair values of assets, liabilities plus costs directly attributable to the business combination. Any excess of the cost of the business combination over te acquirers interest in the net fair value of the identifiable assets and liabilities is recognised as goodwill.

Preparation of consolidated financial statements

The financial statements contain information about Macalvins Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Change of accounting period

Macalvins Group Limited (formerly Macalvins Holdings Limited) has changed its accounting reference date from 31st July to 31st March to align its accounting period with those of its subsidiaries. Accordingly, these financial statements have been prepared for the 8 month period from 1st August 2020 to 31st March 2021.

The comparative figures in the financial statements relate to the period from 18th July 2019 to 31st July 2020.

3.	Employees and directors

The average number of employees during the period was NIL (2020 - NIL).

4.	Fixed asset investments

Shares in

group

undertakings

£

COST OR VALUATION

At 1 August 2020

3,000,000

Additions

1,431,528

At 31 March 2021

4,431,528

NET BOOK VALUE

At 31 March 2021

4,431,528

At 31 July 2020

3,000,000

Cost or valuation at 31 March 2021 is represented by:

Shares in

group

undertakings

£

Valuation in 2020

3,000,000

Valuation in 2021

1,431,528

4,431,528

5.

Creditors: amounts falling due within one year

2021

2020

£

£

Amounts owed to group undertakings

1

-

Other Creditors

20,000

-

20,001

-

6.

Creditors: amounts falling due after more than one year

2021

2020

£

£

Other Creditors

1,381,527

-

Other creditors represents a 6% loan note repayable on future liquidity event. The loan note is secured over the shares of Global Infosys Limited.

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

150

Ordinary

1

150

150

40

Ordinary A

1

40

40

10

Ordinary B

1

10

10

200

200

8.	Related party disclosures

Other creditors represents a 6% loan note repayable on a future lliquidity event. The loan note is secured over the shares of Global Infosys Limited.