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COMPANY REGISTRATION NUMBER: 09242655
Chartmogul Ltd
Filleted Unaudited Financial Statements
31 December 2021
Chartmogul Ltd
Financial Statements
Year ended 31 December 2021
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Chartmogul Ltd
Officers and Professional Advisers
The board of directors
N Franklin
B W Walsh
Registered office
71 - 75 Shelton Street
Covent Garden
London
WC2H 9JQ
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Chartmogul Ltd
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Chartmogul Ltd
Year ended 31 December 2021
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2021, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
Chartmogul Ltd
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
Fixed assets
Investments
5
1,847,904
1,608,641
Current assets
Debtors
6
355
3,244
Cash at bank and in hand
3,434
2,729
-------
-------
3,789
5,973
Creditors: amounts falling due within one year
7
8,409
2,437
-------
-------
Net current (liabilities)/assets
( 4,620)
3,536
------------
------------
Total assets less current liabilities
1,843,284
1,612,177
------------
------------
Net assets
1,843,284
1,612,177
------------
------------
Capital and reserves
Called up share capital
17,494
17,494
Share premium account
2,613,408
2,613,408
Share-based payments reserve
12,507
11,140
Profit and loss account
( 800,125)
( 1,029,865)
------------
------------
Shareholders funds
1,843,284
1,612,177
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2021 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 .
Chartmogul Ltd
Statement of Financial Position (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 14 September 2022 , and are signed on behalf of the board by:
B W Walsh
Director
Company registration number: 09242655
Chartmogul Ltd
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 71 - 75 Shelton Street, Covent Garden, London, WC2H 9JQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling .
Employee benefits
Short term employee benefits are accrued for in the year that they relate to.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
No significant judgements have had to be made by the directors in preparing these financial statements .
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Share-based payments
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates. Fair value is determined using an appropriate pricing model. All market conditions and non-vesting conditions are taken into account when estimating the fair value of the shares or share options. As long as all other vesting conditions are satisfied, no adjustment is made irrespective of whether market or non-vesting conditions are met.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2020: 1 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 January 2021
1,608,641
Additions
239,263
------------
At 31 December 2021
1,847,904
------------
Impairment
At 1 January 2021 and 31 December 2021
------------
Carrying amount
At 31 December 2021
1,847,904
------------
At 31 December 2020
1,608,641
------------
The investments above represents a 100% investment in Chartmogul Technology Canada Ltd., an entity incorporated in Canada, Chartmogul Management GmbH, an entity incorporated in Germany, Chartmogul LLC, an entity incorporated in South Korea and a 100% partnership in Chartmogul CMTDE GmbH & Co. KG, an entity incorporated in Germany.
6. Debtors
2021
2020
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,157
Other debtors
355
1,087
----
-------
355
3,244
----
-------
7. Creditors: amounts falling due within one year
2021
2020
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
5,972
Other creditors
2,437
2,437
-------
-------
8,409
2,437
-------
-------
8. Share-based payments
27,479 options were granted on 23 June 2015 to 3 employees (none of whom are directors), fully vested within 4 years of the grant with a 1 year cliff for the 1st year and then rolling monthly vesting over the remaining 3 years. 75,400 options were granted on 31 March, 19 May and 15 September 2016 to 8 employees (none of whom are directors) with the same conditions as that of 2015. Additionally, 24,500 options were granted to 4 employees on 21 April 2017 and 13,000 options were granted to 1 employee on 21 July 2017, both with the same conditions as that of 2015. During 2021, 30,600 (2020 : nil) options were granted and 10,412 (2020 : 7,217) had lapsed. The exercise price is £0.067745 ($0.10) per share.
Details of the number and weighted average exercise prices (WAEP) of share options during the year are as follows:
2021
2020
No.
WAEP
No.
WAEP
Outstanding at 1 January 2021
164,438
0.07
171,655
0.07
Granted during the year
30,600
0.07
0.07
Expired during the year
( 10,412)
( 7,217)
---------
-----
---------
-----
Outstanding at 31 December 2021
184,626
0.07
164,438
0.07
---------
-----
---------
-----
The total expense recognised in profit or loss for the year is as follows:
2021
2020
£
£
Equity-settled share-based payments
1,368
( 489)
-------
----