Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31truefalsetrue2022-04-0169The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09138270 2022-04-01 2023-03-31 09138270 2021-04-01 2022-03-31 09138270 2023-03-31 09138270 2022-03-31 09138270 2021-04-01 09138270 c:Director1 2022-04-01 2023-03-31 09138270 d:OfficeEquipment 2022-04-01 2023-03-31 09138270 d:OfficeEquipment 2023-03-31 09138270 d:OfficeEquipment 2022-03-31 09138270 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09138270 d:CurrentFinancialInstruments 2023-03-31 09138270 d:CurrentFinancialInstruments 2022-03-31 09138270 d:Non-currentFinancialInstruments 2023-03-31 09138270 d:Non-currentFinancialInstruments 2022-03-31 09138270 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09138270 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09138270 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09138270 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 09138270 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 09138270 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 09138270 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 09138270 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 09138270 d:ShareCapital 2023-03-31 09138270 d:ShareCapital 2022-03-31 09138270 d:SharePremium 2023-03-31 09138270 d:SharePremium 2022-03-31 09138270 d:CapitalRedemptionReserve 2023-03-31 09138270 d:CapitalRedemptionReserve 2022-03-31 09138270 d:RetainedEarningsAccumulatedLosses 2023-03-31 09138270 d:RetainedEarningsAccumulatedLosses 2022-03-31 09138270 c:OrdinaryShareClass1 2022-04-01 2023-03-31 09138270 c:OrdinaryShareClass1 2023-03-31 09138270 c:OrdinaryShareClass2 2022-04-01 2023-03-31 09138270 c:OrdinaryShareClass3 2022-04-01 2023-03-31 09138270 c:OrdinaryShareClass3 2023-03-31 09138270 c:OrdinaryShareClass4 2022-04-01 2023-03-31 09138270 c:OrdinaryShareClass4 2023-03-31 09138270 c:FRS102 2022-04-01 2023-03-31 09138270 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09138270 c:FullAccounts 2022-04-01 2023-03-31 09138270 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09138270 2 2022-04-01 2023-03-31 09138270 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 09138270 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 09138270














MENTOR EUROPE ASSOCIATES LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
MENTOR EUROPE ASSOCIATES LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
MENTOR EUROPE ASSOCIATES LIMITED
REGISTERED NUMBER:09138270

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,539
6,577

  
3,539
6,577

Current assets
  

Debtors: amounts falling due within one year
 5 
5,961
58,180

Cash at bank and in hand
 6 
815,796
250,336

  
821,757
308,516

Creditors: amounts falling due within one year
 7 
(608,446)
(218,158)

Net current assets
  
 
 
213,311
 
 
90,358

Total assets less current liabilities
  
216,850
96,935

Creditors: amounts falling due after more than one year
 8 
(22,500)
(32,525)

Provisions for liabilities
  

Deferred tax
 10 
(319)
(955)

  
 
 
(319)
 
 
(955)

Net assets
  
194,031
63,455


Capital and reserves
  

Called up share capital 
 11 
370
400

Share premium account
  
50,000
50,000

Capital redemption reserve
  
111
-

Profit and loss account
  
143,550
13,055

  
194,031
63,455


1

 
MENTOR EUROPE ASSOCIATES LIMITED
REGISTERED NUMBER:09138270
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 profit and loss account 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: 




................................................
T D Hilliard
Director

Date: 30 January 2024

The notes on pages 3 to 9 form part of these financial statements.

2

 
MENTOR EUROPE ASSOCIATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Mentor Europe Associates Limited is a private company, limited by shares, registered in England and Wales, registration number 09138270. The registered office is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The principal activity of the company continued to be that of consultancy services.

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

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Turnover

Turnover from consultancy service 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. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure. Grants related to Coronavirus Job Retention Scheme are included in other operating income.

 
2.5

 Interest income

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

3

 
MENTOR EUROPE ASSOCIATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

 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.

 
2.7

Borrowing costs

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

 
2.8

 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 Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.9

 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
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.

4

 
MENTOR EUROPE ASSOCIATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
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.

 
2.11

 Debtors

Short term debtors are measured at transaction price, 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.

 
2.13

 Creditors

Short-term creditors are measured at the transaction price.

 
2.14

 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.

 
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 7 (2022 - 9).

5

 
MENTOR EUROPE ASSOCIATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2022
53,849



At 31 March 2023

53,849



Depreciation


At 1 April 2022
47,273


Charge for the year on owned assets
3,037



At 31 March 2023

50,310



Net book value



At 31 March 2023
3,539



At 31 March 2022
6,577


5.


Debtors

2023
2022
£
£


Trade debtors
2,400
1,028

Other debtors
-
38,019

Prepayments and accrued income
3,561
19,133

5,961
58,180



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank
815,796
250,336


6

 
MENTOR EUROPE ASSOCIATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
357,265
121,987

Corporation tax
84,044
16,048

Other taxation and social security
78,477
3,066

Other creditors
48,395
50,770

Accruals
30,265
16,287

608,446
218,158


The bank loan of £10,000 (2022 - £10,000) included in creditors due within one year is a Coronavirus
Bounce Back Loan, 100% guaranteed by the government.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
22,500
32,525


The bank loan of £22,500 (2022 - £32,525) included in creditors due after more than one year is a
Coronavirus Bounce Back Loan, 100% guaranteed by the government.


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
12,500
22,525


32,500
42,525


7

 
MENTOR EUROPE ASSOCIATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Deferred taxation




2023
2022


£

£






At beginning of year
(955)
(73)


Charged to profit or loss
636
(882)



At end of year
(319)
(955)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
319
955


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



59 Ordinary A shares of £1.00 each
59
59
NIL (2022 - 111) Ordinary B shares of £1.00 each
-
111
111 (2022 - 30) Ordinary C shares of £1.00 each
111
30
200 Ordinary D shares of £1.00 each
200
200

370

400


On 23 June 2022, 111 Ordinary B shares of £1.00 each were purchased by the company and cancelled from the issued and fully paid share capital.
On 2 March 2023, 81 Ordinary C shares were issued at an aggregate subscription price of £81 and an aggregate nominal value of £81.


12.


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 £11,734 (2022 - £15,461).

8

 
MENTOR EUROPE ASSOCIATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

13.


Related party transactions

As at the balance sheet date, £5,690 (2022 - £46,824) was owed to the directors. The loans are unsecured and repayable on demand.

As at the balance sheet date, £NIL (2022 - £37,317) was owed by the directors. The interest at official interest rate is charged on the loans due to the company and the loans are repayable on demand.
During the year, the company paid dividends of £70,000 (2022 - £100,000) to the directors. 
 
9