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Company No: 08757407 (England and Wales)

MEDIACLE LIMITED

Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

MEDIACLE LIMITED

Financial Statements

For the financial year ended 31 December 2023

Contents

MEDIACLE LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
MEDIACLE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Mr Santosh Jain
REGISTERED OFFICE 16 Upper Woburn Place
United Kingdom
COMPANY NUMBER 08757407 (England and Wales)
AUDITOR Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT
MEDIACLE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
MEDIACLE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 275,759 145,432
Tangible assets 4 464 580
Investments 5 2,479,428 2,479,428
2,755,651 2,625,440
Current assets
Debtors 6 520,687 575,478
Cash at bank and in hand 7,258,014 5,487,567
7,778,701 6,063,045
Creditors: amounts falling due within one year 7 ( 681,437) ( 580,205)
Net current assets 7,097,264 5,482,840
Total assets less current liabilities 9,852,915 8,108,280
Net assets 9,852,915 8,108,280
Capital and reserves
Called-up share capital 8 10 10
Fair value reserve 56,149 0
Profit and loss account 9,796,756 8,108,270
Total shareholder's funds 9,852,915 8,108,280

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of Mediacle Limited (registered number: 08757407) were approved and authorised for issue by the Director on 09 September 2024. They were signed on its behalf by:

Mr Santosh Jain
Director
MEDIACLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
MEDIACLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mediacle Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 16 Upper Woburn Place, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Taxation

Current tax
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible
temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available
to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 20 % reducing balance

Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Investments in Subsidiaries

Investments are stated at cost less any provision for impairment. Investment in LLP's, where control is held, are treated as subsidiary undertakings.

Intangible fixed assets - Digital Assets

The Company holds Digital Assets equal to the amount due to holders of Digital Securities solely for the purposes of meeting its obligations under the Digital Securities. Digital Assets are priced on a daily basis based on the amount of the Digital Assets held using the relevant Quoted Price, and is considered to be the fair value of the Digital Assets. Digital Assets are included at cost less accumulated amortisation. Subsequent measurement is carried out using the revaluation model.

2. Employees

2023 2022
Number Number
Average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Website costs Other intangible assets Total
£ £ £
Cost/Valuation
At 01 January 2023 70,000 95,682 165,682
Additions 0 140,412 140,412
Revaluations 0 85,048 85,048
Disposals 0 ( 71,692) ( 71,692)
At 31 December 2023 70,000 249,450 319,450
Accumulated amortisation
At 01 January 2023 7,000 13,250 20,250
Charge for the financial year 7,000 16,441 23,441
At 31 December 2023 14,000 29,691 43,691
Net book value
At 31 December 2023 56,000 219,759 275,759
At 31 December 2022 63,000 82,432 145,432

4. Tangible assets

Computer equipment Total
£ £
Cost
At 01 January 2023 3,173 3,173
At 31 December 2023 3,173 3,173
Accumulated depreciation
At 01 January 2023 2,593 2,593
Charge for the financial year 116 116
At 31 December 2023 2,709 2,709
Net book value
At 31 December 2023 464 464
At 31 December 2022 580 580

5. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 2,479,428
At 31 December 2023 2,479,428
Carrying value at 31 December 2023 2,479,428
Carrying value at 31 December 2022 2,479,428

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Mediacle Technologies LLP
Registered office: India
Nature of business: Website Design/Development
Class of shares: LLP Member
Holding (%) : 99.99

6. Debtors

2023 2022
£ £
Trade debtors 71,472 88,054
Amounts owed by Group undertakings 0 10,267
Prepayments 434,574 477,157
VAT recoverable 14,641 0
520,687 575,478

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 34,479 70,372
Amounts owed to Group undertakings 102,417 232,550
Accruals 163,578 125,814
Taxation and social security 380,963 134,850
Other creditors 0 16,619
681,437 580,205

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10 Ordinary shares of £ 1.00 each 10 10

9. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2023 was unqualified.

The audit report was signed by Martin Howard on behalf of Hazlewoods LLP, Windsor House.

10. Ultimate controlling party

Parent Company:

The company's immediate and ultimate parent is Mediacle Group AB (Publ), incorporated in Sweden.
Po Box 16416, 10 327 Stockholm, Sweden