Registered number
10209519
Mantle Labs Limited
Unaudited Filleted Accounts
31 December 2023
Mantle Labs Limited
Registered number: 10209519
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 797 797
Tangible assets 4 746 539
Investments 5 15,063 15,674
16,606 17,010
Current assets
Debtors 6 759,870 581,320
Cash at bank and in hand 561,410 833,462
1,321,280 1,414,782
Creditors: amounts falling due within one year 7 (59,825) (86,068)
Net current assets 1,261,455 1,328,714
Total assets less current liabilities 1,278,061 1,345,724
Provisions for liabilities (142) (102)
Net assets 1,277,919 1,345,622
Capital and reserves
Called up share capital 18 17
Share premium 5,171,775 3,563,643
Profit and loss account (3,893,874) (2,218,038)
Shareholders' funds 1,277,919 1,345,622
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S. Baokar
Director
Approved by the board on 9 April 2024
Mantle Labs Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 50% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 797
At 31 December 2023 797
Amortisation
At 31 December 2023 -
Net book value
At 31 December 2023 797
At 31 December 2022 797
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 4,867
Additions 2,328
At 31 December 2023 7,195
Depreciation
At 1 January 2023 4,328
Charge for the year 2,121
At 31 December 2023 6,449
Net book value
At 31 December 2023 746
At 31 December 2022 539
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 15,674
Additions 14,963
Disposals (15,574)
At 31 December 2023 15,063
6 Debtors 2023 2022
£ £
Trade debtors 196,811 182,413
Amounts owed by group undertakings and undertakings in which the company has a participating interest 94,624 24,624
Other debtors 468,435 374,283
759,870 581,320
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 10,580 41,389
Taxation and social security costs 43,245 38,679
Other creditors 6,000 6,000
59,825 86,068
8 Other information
Mantle Labs Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cambridge House
32 Padwell Road
Southampton
Hampshire
SO14 6QZ
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