Registration number:
Mapstack Ltd
for the Period from 21 November 2022 to 30 November 2023
Pages for filing with Registrar
Mapstack Ltd
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Mapstack Ltd
Company Information
Director |
C Brown |
Registered office |
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Registered number |
14495846 |
Accountants |
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Mapstack Ltd
(Registration number: 14495846)
Balance Sheet as at 30 November 2023
Note |
2023 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
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Profit and loss account |
( |
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Total equity |
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Mapstack Ltd
(Registration number: 14495846)
Balance Sheet as at 30 November 2023
For the financial period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
Director
Mapstack Ltd
Statement of Changes in Equity for the Period from 21 November 2022 to 30 November 2023
Share capital |
Equity component of convertible debt |
Profit and loss account |
Total |
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Loss for the period |
- |
- |
( |
( |
New share capital subscribed |
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- |
- |
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Equity component of convertible debt |
- |
12,649 |
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12,649 |
At 30 November 2023 |
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( |
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Mapstack Ltd
Notes to the Unaudited Financial Statements for the Period from 21 November 2022 to 30 November 2023
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The director has indicated his willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.
Government grants
Government grants are recognised, using the accrual model, at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.
Research and development costs
Research and development costs are written off to profit or loss in the year incurred.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand.
Mapstack Ltd
Notes to the Unaudited Financial Statements for the Period from 21 November 2022 to 30 November 2023
Trade creditors
Trade creditors are recognised initially at the transaction price and subsequently measured at cost.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Convertible debt
The net proceeds received from the issue of convertible debt instruments are split between a liability element and an equity component at the date of issue. The fair value of the liability component is estimated using the prevailing market interest rate for similar non-convertible debt. The difference between the proceeds of issue of the convertible bonds and the fair value assigned to the liability component, representing the embedded option to convert the liability into equity of the company, is included in equity and is not remeasured. The liability component is carried at amortised cost.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Debtors: amounts falling due within one year |
2023 |
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Prepayments |
11,454 |
Other debtors |
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Mapstack Ltd
Notes to the Unaudited Financial Statements for the Period from 21 November 2022 to 30 November 2023
Creditors |
2023 |
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Amounts falling due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Accruals |
2,375 |
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2023 |
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Due after one year |
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Convertible debt |
37,351 |
The convertible debt is unsecured and interest free. The convertible debt matures on 1 June 2028.
Mapstack Ltd
Notes to the Unaudited Financial Statements for the Period from 21 November 2022 to 30 November 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
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No. |
£ |
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8.00 |
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1.40 |
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0.60 |
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On incorporation, 100 Ordinary shares were issued at par with a nominal value of £1.
Subsequently on 1 June 2023, a further 700 Ordinary shares were issued at par with a nominal value of £7. On 1 June 2023, 140 A Ordinary shares were issued at par with a nominal value of £1.40, and 60 B Ordinary shares were issued at par with a nominal value of £0.60.
Related party transactions |
Summary of transactions with entities with joint control or significant interest