Company No:
Contents
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 |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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Investments | 5 |
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2,755,651 | 2,625,440 | |||
Current assets | ||||
Debtors | 6 |
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Cash at bank and in hand |
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7,778,701 | 6,063,045 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 7,097,264 | 5,482,840 | ||
Total assets less current liabilities | 9,852,915 | 8,108,280 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Fair value reserve |
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Profit and loss account |
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Total shareholder's funds |
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The financial statements of Mediacle Limited (registered number:
Mr Santosh Jain
Director |
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.
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 £.
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
Computer equipment |
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Investments are stated at cost less any provision for impairment. Investment in LLP's, where control is held, are treated as subsidiary undertakings.
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.
2023 | 2022 | ||
Number | Number | ||
Average number of persons employed by the Company during the year, including the director |
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Website costs | Other intangible assets | Total | |||
£ | £ | £ | |||
Cost/Valuation | |||||
At 01 January 2023 |
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Additions |
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Revaluations |
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Disposals |
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At 31 December 2023 |
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Accumulated amortisation | |||||
At 01 January 2023 |
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Charge for the financial year |
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At 31 December 2023 |
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Net book value | |||||
At 31 December 2023 |
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At 31 December 2022 |
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Computer equipment | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2023 |
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At 31 December 2023 |
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Accumulated depreciation | |||
At 01 January 2023 |
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Charge for the financial year |
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At 31 December 2023 |
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Net book value | |||
At 31 December 2023 |
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At 31 December 2022 |
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Investments in subsidiaries
2023 | |
£ | |
Cost | |
At 01 January 2023 |
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At 31 December 2023 |
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Carrying value at 31 December 2023 |
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Carrying value at 31 December 2022 |
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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
2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by Group undertakings |
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Prepayments |
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VAT recoverable |
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2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Accruals |
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Taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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The audit report was signed by Martin Howard on behalf of Hazlewoods LLP, Windsor House.
Parent Company:
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Po Box 16416, 10 327 Stockholm, Sweden |