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Registered Number: 12438835
England and Wales

 

 

 

MENTOR WISE MAGNATE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 9,073    7,759 
9,073    7,759 
Current assets      
Debtors 64,372    16,975 
Cash at bank and in hand 94,341    82,819 
158,713    99,794 
Creditors: amount falling due within one year (39,570)   (44,793)
Net current assets 119,143    55,001 
 
Total assets less current liabilities 128,216    62,760 
Creditors: amount falling due after more than one year (18,035)   (21,592)
Net assets 110,181    41,168 
 

Capital and reserves
     
Called up share capital 4 2    2 
Profit and loss account 110,179    41,166 
Shareholder's funds 110,181    41,168 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 28 November 2023 and were signed on its behalf by:


-------------------------------
Moises Marcelino
Director
1
General Information
Mentor Wise Magnate Ltd is a private company, limited by shares, registered in England and Wales, registration number 12438835, registration address 169 High Street, Barnet, EN5 5SU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 5 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 March 2022 4,069    5,312    9,381 
Additions 2,123    2,216    4,339 
Disposals    
At 28 February 2023 6,192    7,528    13,720 
Depreciation
At 01 March 2022 1,073    549    1,622 
Charge for year 1,280    1,745    3,025 
On disposals    
At 28 February 2023 2,353    2,294    4,647 
Net book values
Closing balance as at 28 February 2023 3,839    5,234    9,073 
Opening balance as at 01 March 2022 2,996    4,763    7,759 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
2 Class A shares of £1.00 each  
 

2