Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-3113The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-09-01falseManaged servers12truetruefalse 04052652 2022-09-01 2023-08-31 04052652 2021-09-01 2022-08-31 04052652 2023-08-31 04052652 2022-08-31 04052652 c:Director2 2022-09-01 2023-08-31 04052652 d:ComputerEquipment 2022-09-01 2023-08-31 04052652 d:ComputerEquipment 2023-08-31 04052652 d:ComputerEquipment 2022-08-31 04052652 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 04052652 d:PatentsTrademarksLicencesConcessionsSimilar 2023-08-31 04052652 d:PatentsTrademarksLicencesConcessionsSimilar 2022-08-31 04052652 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 04052652 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-08-31 04052652 d:Goodwill 2022-09-01 2023-08-31 04052652 d:Goodwill 2023-08-31 04052652 d:Goodwill 2022-08-31 04052652 d:ComputerSoftware 2023-08-31 04052652 d:ComputerSoftware 2022-08-31 04052652 d:CurrentFinancialInstruments 2023-08-31 04052652 d:CurrentFinancialInstruments 2022-08-31 04052652 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 04052652 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 04052652 d:ShareCapital 2023-08-31 04052652 d:ShareCapital 2022-08-31 04052652 d:SharePremium 2023-08-31 04052652 d:SharePremium 2022-08-31 04052652 d:RetainedEarningsAccumulatedLosses 2023-08-31 04052652 d:RetainedEarningsAccumulatedLosses 2022-08-31 04052652 c:OrdinaryShareClass1 2022-09-01 2023-08-31 04052652 c:OrdinaryShareClass1 2023-08-31 04052652 c:OrdinaryShareClass1 2022-08-31 04052652 c:OrdinaryShareClass2 2022-09-01 2023-08-31 04052652 c:OrdinaryShareClass2 2023-08-31 04052652 c:OrdinaryShareClass2 2022-08-31 04052652 c:OrdinaryShareClass3 2022-09-01 2023-08-31 04052652 c:OrdinaryShareClass3 2023-08-31 04052652 c:OrdinaryShareClass3 2022-08-31 04052652 c:OrdinaryShareClass4 2022-09-01 2023-08-31 04052652 c:OrdinaryShareClass4 2023-08-31 04052652 c:OrdinaryShareClass4 2022-08-31 04052652 c:FRS102 2022-09-01 2023-08-31 04052652 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 04052652 c:FullAccounts 2022-09-01 2023-08-31 04052652 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04052652 d:WithinOneYear 2023-08-31 04052652 d:WithinOneYear 2022-08-31 04052652 d:BetweenOneFiveYears 2023-08-31 04052652 d:BetweenOneFiveYears 2022-08-31 04052652 d:MoreThanFiveYears 2023-08-31 04052652 d:MoreThanFiveYears 2022-08-31 04052652 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 04052652 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 04052652 d:OtherDeferredTax 2023-08-31 04052652 d:OtherDeferredTax 2022-08-31 04052652 2 2022-09-01 2023-08-31 04052652 6 2022-09-01 2023-08-31 04052652 d:Goodwill d:OwnedIntangibleAssets 2022-09-01 2023-08-31 04052652 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2022-09-01 2023-08-31 04052652 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-09-01 2023-08-31 04052652 d:ComputerSoftware d:OwnedIntangibleAssets 2022-09-01 2023-08-31 04052652 e:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04052652









MYTHIC BEASTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

 
MYTHIC BEASTS LIMITED
REGISTERED NUMBER: 04052652

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
24,747
29,867

Tangible assets
 5 
330,038
287,611

Investments
 6 
1
1

  
354,786
317,479

Current assets
  

Debtors: amounts falling due within one year
 7 
170,318
160,775

Bank and cash balances
  
906,196
649,417

  
1,076,514
810,192

Creditors: amounts falling due within one year
 8 
(1,014,294)
(750,391)

Net current assets
  
 
 
62,220
 
 
59,801

Total assets less current liabilities
  
417,006
377,280

Provisions for liabilities
  

Deferred tax
 9 
(75,036)
(64,821)

  
 
 
(75,036)
 
 
(64,821)

Net assets
  
341,970
312,459


Capital and reserves
  

Called up share capital 
 10 
1,465
1,454

Share premium account
  
10,746
9,192

Profit and loss account
  
329,759
301,813

  
341,970
312,459


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.
 
Page 1

 
MYTHIC BEASTS LIMITED
REGISTERED NUMBER: 04052652
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023


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 income and retained earnings 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: 




................................................
R A Smith
Director
Date: 1 August 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
MYTHIC BEASTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

The principal activity of the company is the provision of managed VPS and dedicated servers, shared web and email hosting, domain registrations and DNS hosting.
The Company is a private company limited by shares and incorporated in England and Wales.
The address of its registered office is 45 Argyle Street, Cambridge, England, CB1 3LR.

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 judgment 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 GBP.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MYTHIC BEASTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.3

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.4

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 Income and Retained Earnings 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.

Page 4

 
MYTHIC BEASTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

  
2.5

Licences

Licence costs are capitalised where the directors are satisfied that the criteria set out in FRS 102 are met. These costs are then amortised over the period in which the company is expected to benefit from the commercial exploitation of the licences, which is 3 years. Provisions are made for any impairment.

 
2.6

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:

Computer equipment
-
33%
on cost

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.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
 

Page 5

 
MYTHIC BEASTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

Interest income

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

 
2.12

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 reporting 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 reporting 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 reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 13).

Page 6

 
MYTHIC BEASTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Intangible assets




Customer lists
Licences
IP addresses
Goodwill
Total

£
£
£
£
£



Cost


At 1 September 2022
4,524
3,950
51,200
67,005
126,679



At 31 August 2023

4,524
3,950
51,200
67,005
126,679



Amortisation


At 1 September 2022
4,524
3,950
21,333
67,005
96,812


Charge for the year on owned assets
-
-
5,120
-
5,120



At 31 August 2023

4,524
3,950
26,453
67,005
101,932



Net book value



At 31 August 2023
-
-
24,747
-
24,747



At 31 August 2022
-
-
29,867
-
29,867



Page 7

 
MYTHIC BEASTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 September 2022
1,526,458


Additions
213,979



At 31 August 2023

1,740,437



Depreciation


At 1 September 2022
1,238,847


Charge for the year on owned assets
171,552



At 31 August 2023

1,410,399



Net book value



At 31 August 2023
330,038



At 31 August 2022
287,611


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 September 2022
1



At 31 August 2023
1




Page 8

 
MYTHIC BEASTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


Debtors

2023
2022
£
£


Trade debtors
75,440
89,852

Amounts owed by group undertakings
37,726
37,664

Other debtors
1
1

Prepayments and accrued income
57,151
33,258

170,318
160,775



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
311,949
137,436

Corporation tax
30,091
7,994

Other taxation and social security
40,762
39,253

Other creditors
4,172
7,523

Accruals and deferred income
627,320
558,185

1,014,294
750,391


Page 9

 
MYTHIC BEASTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Deferred taxation




2023


£






At beginning of year
(64,821)


Charged to profit or loss
(10,215)



At end of year
(75,036)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(75,428)
(64,821)

Short term timing differences
392
-

(75,036)
(64,821)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



73,167 (2022 - 72,579) Ordinary shares of £0.01 each
731.67
725.79
1 (2022 - 1) A Ordinary share of £1.00
1.00
1.00
1 (2022 - 1) B Ordinary share of £1.00
1.00
1.00
73,167 (2022 - 72,579) C Ordinary shares of £0.01 each
731.67
725.79

1,465.34

1,453.58


During the year the Company alloted 588 Ordinary shares (2022: 647) with an aggregate nominal value of £5.88 for a total consideration of £1,553.96 (2022: £2,219.21).
The Company also allotted 588 C Ordinary shares (2022: 647) with an aggregate nominal value of £5.88 for a consideration of £5.88 (2022: £6.47).

Page 10

 
MYTHIC BEASTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

11.


Commitments under operating leases

At 31 August 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
832,568
655,320

Later than 1 year and not later than 5 years
1,160,882
1,122,375

Later than 5 years
195,306
111,300

2,188,756
1,888,995

 
Page 11