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Registered number: 11811151
Materra Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11811151
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,806 7,175
Investments 5 35,825 35,825
40,631 43,000
CURRENT ASSETS
Debtors 6 371,188 45,786
Cash at bank and in hand 1,104,848 2,256,599
1,476,036 2,302,385
Creditors: Amounts Falling Due Within One Year 7 (167,731 ) (32,287 )
NET CURRENT ASSETS (LIABILITIES) 1,308,305 2,270,098
TOTAL ASSETS LESS CURRENT LIABILITIES 1,348,936 2,313,098
NET ASSETS 1,348,936 2,313,098
CAPITAL AND RESERVES
Called up share capital 8 37 37
Share premium account 3,852,243 3,852,243
Profit and Loss Account (2,503,344 ) (1,539,182 )
SHAREHOLDERS' FUNDS 1,348,936 2,313,098
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 17 October 2024 and were signed on its behalf by:
Mr Edward Brial
Director
17 October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Materra Ltd is a private company,  limited by shares, incorporated in England & Wales, registered number 11811151 . The registered office is Somerset House, Strand, London, WC2R 1LA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in  accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The company’s financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company’s needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.
2.3. Turnover
Revenue is recognised to the extent that it is probable 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.

Revenue from a contract to provide services is recognised in the period in which the services are provided.
2.4. Research and Development
Expenditure on reserch and development is written off in the year it is incurred.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.  Depreciation  is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 3 years on a straight line basis
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.

Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within the profit or loss.
2.6. Financial Instruments
Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Investments

Investments in subsidiaries are held at cost less accumulated impairment losses.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.

...CONTINUED
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2.6. Financial Instruments - continued
For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

2.7. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the tax currently payable .
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.
Current tax for the year is recognised in profit or loss.
2.9. Pensions
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 in 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 in the periods during which services are rendered by employees.
2.10. Grant Income
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.11. Preparation of consolidated financial statements
The company is exempt under Section 399 of the Companies Act from the requirement to prepare consolidated
financial statements by virtue of the fact it is subject to the small companies regime. These financial statements
contain information the company as an individual undertaking and not about this group.

1.13. Related Party Exemption

The company has taken advantage of the exemption available under FRS 102 not to disclose related party transactions with wholly owned subsidiaries in the group.
2.12. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees during the year was as follows: 8 (2023: 5)
8 5
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 12,282
Additions 1,989
As at 31 March 2024 14,271
Depreciation
As at 1 April 2023 5,107
Provided during the period 4,358
As at 31 March 2024 9,465
Net Book Value
As at 31 March 2024 4,806
As at 1 April 2023 7,175
5. Investments
Subsidiaries
£
Cost
As at 1 April 2023 35,825
As at 31 March 2024 35,825
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 35,825
As at 1 April 2023 35,825
Investments of £35,825 represent the cost of 100% shareholding in Materra India Private Limited, a company registered in India.
6. Debtors
2024 2023
£ £
Due within one year
Amounts owed by group undertakings 154,800 -
Other debtors 96,388 45,786
251,188 45,786
Due after more than one year
Amounts owed by group undertakings 120,000 -
371,188 45,786
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 146,114 16,438
Other creditors 7,009 2,857
Taxation and social security 14,608 12,992
167,731 32,287
Included within other creditors are outstanding pension contributions of £1,631 (2023: £1,411)
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 37 37
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 16,902 21,204
16,902 21,204
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