Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.92023-01-01falseDevelopment and provision of digital educational services and products.3truetrue 11960891 2023-01-01 2023-12-31 11960891 2022-01-01 2022-12-31 11960891 2023-12-31 11960891 2022-12-31 11960891 c:Director1 2023-01-01 2023-12-31 11960891 d:ComputerEquipment 2023-01-01 2023-12-31 11960891 d:ComputerEquipment 2023-12-31 11960891 d:ComputerEquipment 2022-12-31 11960891 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11960891 d:CurrentFinancialInstruments 2023-12-31 11960891 d:CurrentFinancialInstruments 2022-12-31 11960891 d:Non-currentFinancialInstruments 2023-12-31 11960891 d:Non-currentFinancialInstruments 2022-12-31 11960891 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11960891 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11960891 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 11960891 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11960891 d:ShareCapital 2023-12-31 11960891 d:ShareCapital 2022-12-31 11960891 d:SharePremium 2023-12-31 11960891 d:SharePremium 2022-12-31 11960891 d:RetainedEarningsAccumulatedLosses 2023-12-31 11960891 d:RetainedEarningsAccumulatedLosses 2022-12-31 11960891 c:FRS102 2023-01-01 2023-12-31 11960891 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11960891 c:FullAccounts 2023-01-01 2023-12-31 11960891 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11960891 2 2023-01-01 2023-12-31 11960891 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 11960891










METAVERSE LEARNING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
METAVERSE LEARNING LIMITED
REGISTERED NUMBER: 11960891

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,503
4,372

  
6,503
4,372

Current assets
  

Debtors: amounts falling due within one year
 5 
205,285
22,829

Cash at bank and in hand
  
874,858
619,036

  
1,080,143
641,865

Creditors: amounts falling due within one year
 6 
(521,597)
(24,076)

Net current assets
  
 
 
558,546
 
 
617,789

Total assets less current liabilities
  
565,049
622,161

Creditors: amounts falling due after more than one year
  
(150,000)
-

  

Net assets
  
415,049
622,161


Capital and reserves
  

Called up share capital 
  
208
208

Share premium account
  
1,668,101
1,668,101

Profit and loss account
  
(1,253,260)
(1,046,148)

  
415,049
622,161


Page 1

 
METAVERSE LEARNING LIMITED
REGISTERED NUMBER: 11960891
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 or the directors' report 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: 




J Holt
Director

Date: 12 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
METAVERSE LEARNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Metaverse Learning Limited is a private company limited by shares and incorporated in England and
Wales. The registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

Interest income

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

 
2.4

Borrowing costs

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

Page 3

 
METAVERSE LEARNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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%
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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.8

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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price.

 
2.10

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.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Page 4

 
METAVERSE LEARNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)


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 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 within 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.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 5

 
METAVERSE LEARNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees




The average monthly number of employees, including directors, during the year was 9 (2022 - 3).


4.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 January 2023
5,450


Additions
5,012



At 31 December 2023

10,462



Depreciation


At 1 January 2023
1,078


Charge for the year on owned assets
2,881



At 31 December 2023

3,959



Net book value



At 31 December 2023
6,503



At 31 December 2022
4,372


5.


Debtors

2023
2022
£
£


Trade debtors
196,344
12,000

Other debtors
42
10,829

Prepayments and accrued income
8,899
-

205,285
22,829


Page 6

 
METAVERSE LEARNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,506
922

Other taxation and social security
10,399
850

Other creditors
3,029
2,898

Accruals and deferred income
505,663
19,406

521,597
24,076



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
150,000
-


 
Page 7