Caseware UK (AP4) 2022.0.179 2022.0.179 32022-05-01falseAccounting, Auditing and taxation4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07238098 2022-05-01 2023-04-30 07238098 2023-04-30 07238098 2022-04-30 07238098 2022-05-01 2023-04-30 07238098 2021-05-01 2022-04-30 07238098 2023-04-30 07238098 2022-04-30 07238098 c:Director1 2022-05-01 2023-04-30 07238098 c:RegisteredOffice 2022-05-01 2023-04-30 07238098 c:Agent1 2022-05-01 2023-04-30 07238098 d:FurnitureFittings 2022-05-01 2023-04-30 07238098 d:OfficeEquipment 2022-05-01 2023-04-30 07238098 d:OtherPropertyPlantEquipment 2022-05-01 2023-04-30 07238098 d:OtherPropertyPlantEquipment 2023-04-30 07238098 d:OtherPropertyPlantEquipment 2022-04-30 07238098 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 07238098 d:Goodwill 2022-05-01 2023-04-30 07238098 d:Goodwill 2023-04-30 07238098 d:Goodwill 2022-04-30 07238098 d:CurrentFinancialInstruments 2023-04-30 07238098 d:CurrentFinancialInstruments 2022-04-30 07238098 d:Non-currentFinancialInstruments 2023-04-30 07238098 d:Non-currentFinancialInstruments 2022-04-30 07238098 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07238098 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 07238098 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 07238098 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 07238098 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 07238098 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-04-30 07238098 d:ShareCapital 2023-04-30 07238098 d:ShareCapital 2022-04-30 07238098 d:RetainedEarningsAccumulatedLosses 2023-04-30 07238098 d:RetainedEarningsAccumulatedLosses 2022-04-30 07238098 c:FRS102 2022-05-01 2023-04-30 07238098 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 07238098 c:FullAccounts 2022-05-01 2023-04-30 07238098 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 07238098 2 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 07238098










MANTAX LYNTON LTD








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended April 30, 2023

 
MANTAX LYNTON LTD
 

Company Information


Director
Janak Pokhrel 




Registered number
07238098



Registered office
Suite 207 Equitable House
7 General gordon Square

London

SE18 6FH




Bankers
HSBC Bank PLC
74 Gosewell Road

London

EC1V 7DA





 
MANTAX LYNTON LTD
Registered number: 07238098

Statement of financial position
As at April 30, 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
10,031
11,046

  
10,031
11,046

Current assets
  

Debtors: amounts falling due within one year
 6 
154,141
151,497

Cash at bank and in hand
 7 
164,837
117,558

  
318,978
269,055

Creditors: amounts falling due within one year
 8 
(88,941)
(90,516)

Net current assets
  
 
 
230,037
 
 
178,539

Total assets less current liabilities
  
240,068
189,585

Creditors: amounts falling due after more than one year
 9 
(21,971)
(31,697)

  

Net assets
  
218,097
157,888


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
218,096
157,887

  
218,097
157,888



 
MANTAX LYNTON LTD
Registered number: 07238098

Statement of financial position (continued)
As at April 30, 2023

The director considers 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 director acknowledges his 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 on January 31, 2024.





Janak Pokhrel
Director

The notes on page 4 form part of these financial statements.


 
MANTAX LYNTON LTD
 

 
Notes to the financial statements
For the Year Ended April 30, 2023

1.


General information

Mantax Lynton Limited is a company, limited by shares, registered in England & Wales. The company's registered number and registered office can be found on the company information page.
The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

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 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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

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


 
MANTAX LYNTON LTD
 

 
Notes to the financial statements
For the Year Ended April 30, 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

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 reporting date in the countries where the Company operates and generates income.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other 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.

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.

 
2.10

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.


 
MANTAX LYNTON LTD
 

 
Notes to the financial statements
For the Year Ended April 30, 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
Furnitures and Office equipment
-
25% reducing balance

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the

 
MANTAX LYNTON LTD
 

 
Notes to the financial statements
For the Year Ended April 30, 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 3).


 
MANTAX LYNTON LTD
 

 
Notes to the financial statements
For the Year Ended April 30, 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 May 2022
20,000



At April 30, 2023

20,000



Amortisation


At 1 May 2022
20,000



At April 30, 2023

20,000



Net book value



At April 30, 2023
-



At April 30, 2022
-



Page 1

 
MANTAX LYNTON LTD
 

 
Notes to the financial statements
For the Year Ended April 30, 2023

5.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 May 2022
47,799


Additions
2,059



At April 30, 2023

49,858



Depreciation


At 1 May 2022
36,753


Charge for the year on owned assets
3,074



At April 30, 2023

39,827



Net book value



At April 30, 2023
10,031



At April 30, 2022
11,046


6.


Debtors

2023
2022
£
£


Trade debtors
26,974
24,330

Other debtors
127,167
127,167

154,141
151,497



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
164,837
117,558

164,837
117,558


Page 2

 
MANTAX LYNTON LTD
 

 
Notes to the financial statements
For the Year Ended April 30, 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,600
9,600

Corporation tax
28,029
27,235

Other taxation and social security
30,166
26,915

Other creditors
8,146
5,766

Accruals and deferred income
13,000
21,000

88,941
90,516



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
21,971
31,697

21,971
31,697



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,600
9,600


9,600
9,600


Amounts falling due 2-5 years

Bank loans
21,971
31,697


21,971
31,697


31,571
41,297


Page 3

 
MANTAX LYNTON LTD
 

 
Notes to the financial statements
For the Year Ended April 30, 2023

11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £10,636 (2022 - £273). Contributions totaling £307 (2022: £517) were outstanding to the fund at year end.


12.


Related party transactions

During the year, the company paid dividends of £60,000 (2022: £60,000) to the director.


13.


Controlling party

The Company is controlled by Mr J Pokhrel. 


Page 4