Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08059487 2022-01-01 2022-12-31 08059487 2021-01-01 2021-12-31 08059487 2022-12-31 08059487 2021-12-31 08059487 c:Director1 2022-01-01 2022-12-31 08059487 d:OfficeEquipment 2022-01-01 2022-12-31 08059487 d:OfficeEquipment 2022-12-31 08059487 d:OfficeEquipment 2021-12-31 08059487 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 08059487 d:ComputerEquipment 2022-01-01 2022-12-31 08059487 d:ComputerEquipment 2022-12-31 08059487 d:ComputerEquipment 2021-12-31 08059487 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 08059487 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 08059487 d:ComputerSoftware 2022-01-01 2022-12-31 08059487 d:ComputerSoftware 2022-12-31 08059487 d:ComputerSoftware 2021-12-31 08059487 d:OtherResidualIntangibleAssets 2022-01-01 2022-12-31 08059487 d:CurrentFinancialInstruments 2022-12-31 08059487 d:CurrentFinancialInstruments 2021-12-31 08059487 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08059487 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08059487 d:ShareCapital 2022-12-31 08059487 d:ShareCapital 2021-12-31 08059487 d:RetainedEarningsAccumulatedLosses 2022-12-31 08059487 d:RetainedEarningsAccumulatedLosses 2021-12-31 08059487 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 08059487 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 08059487 c:FRS102 2022-01-01 2022-12-31 08059487 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 08059487 c:FullAccounts 2022-01-01 2022-12-31 08059487 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 08059487 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2022-01-01 2022-12-31 08059487 2 2022-01-01 2022-12-31 08059487 d:ComputerSoftware d:OwnedIntangibleAssets 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 08059487









MANTRA CAPITAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
MANTRA CAPITAL LIMITED
REGISTERED NUMBER: 08059487

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
9,560
-

Tangible assets
  
607
1,158

  
10,167
1,158

Current assets
  

Debtors: amounts falling due within one year
  
178,905
178,591

Current asset investments
  
39,379
12,591

Cash at bank and in hand
 8 
37,633
20,165

  
255,917
211,347

Creditors: amounts falling due within one year
 9 
(35,888)
(4,202)

Net current assets
  
 
 
220,029
 
 
207,145

Total assets less current liabilities
  
230,196
208,303

Provisions for liabilities
  

Deferred tax
  
(9)
-

  
 
 
(9)
 
 
-

Net assets
  
230,187
208,303


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
230,185
208,301

  
230,187
208,303


Page 1

 
MANTRA CAPITAL LIMITED
REGISTERED NUMBER: 08059487
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Paul Anderson
Director

Date: 27 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MANTRA CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

The company is a private company limited by shares incorporated in England and Wales. The address of
its registered office is: 2 Church Street, Brighton East Sussex, BN1 1UJ. The financial statements
are prepared in GBP ("£") which is the functional and presentational currency of the primary economic
environment in which the company operates.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
MANTRA CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the revaluation model, intangible assets shall be carried at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated amortisation and subsequent impairment losses - provided that the fair value can be determined by reference to an active market.
Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the balance sheet date.

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.

 The estimated useful lives range as follows:

Digital assets
-
10
years

Page 4

 
MANTRA CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
3%
years straight-line
Computer equipment
-
3%
years straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 5

 
MANTRA CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Intangible assets




Digital Assets

£



Cost


Additions
27,703


Disposals
(17,448)


Revaluation surplus
330



At 31 December 2022

10,585



Amortisation


Charge for the year on owned assets
2,770


On disposals
(1,745)



At 31 December 2022

1,025



Net book value



At 31 December 2022
9,560



At 31 December 2021
-



Page 6

 
MANTRA CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2022
501
1,153
1,654



At 31 December 2022

501
1,153
1,654



Depreciation


At 1 January 2022
100
396
496


Charge for the year on owned assets
167
384
551



At 31 December 2022

267
780
1,047



Net book value



At 31 December 2022
234
373
607



At 31 December 2021
401
757
1,158


6.


Debtors

2022
2021
£
£


Amounts owed by joint ventures and associated undertakings
178,451
178,451

Other debtors
454
-

Tax recoverable
-
140

178,905
178,591



7.


Current asset investments

2022
2021
£
£

Unlisted investments
39,379
12,591

39,379
12,591


Page 7

 
MANTRA CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

8.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
37,633
20,165

37,633
20,165



9.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other loans
687
-

Corporation tax
1,503
-

Other taxation and social security
-
140

Other creditors
31,698
2,562

Accruals and deferred income
2,000
1,500

35,888
4,202



10.


Deferred taxation




2022


£






Charged to profit or loss
(9)



At end of year
(9)

The deferred taxation balance is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(9)
-

(9)
-

 
Page 8