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REGISTERED NUMBER: 07521761 (England and Wales)











































Monad Software Ltd

Unaudited Financial Statements

for the Year Ended 30th March 2024






Monad Software Ltd (Registered number: 07521761)






Contents of the Financial Statements
for the year ended 30th March 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Monad Software Ltd

Company Information
for the year ended 30th March 2024







Directors: B J Curthoys
A Curthoys





Secretary: B J Curthoys





Registered office: 62 Church Street
Berwick-Upon-Tweed
Northumberland
TD15 1DU





Registered number: 07521761 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Monad Software Ltd (Registered number: 07521761)

Balance Sheet
30th March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 500,000 500,000
Tangible assets 5 2,068 2,521
502,068 502,521

Current assets
Debtors 6 16,122 7,764
Cash at bank 5,800 6,037
21,922 13,801
Creditors
Amounts falling due within one year 7 26,765 22,282
Net current liabilities (4,843 ) (8,481 )
Total assets less current liabilities 497,225 494,040

Provisions for liabilities 393 -
Net assets 496,832 494,040

Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 466,134 466,134
Retained earnings 30,598 27,806
Shareholders' funds 496,832 494,040

Monad Software Ltd (Registered number: 07521761)

Balance Sheet - continued
30th March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th September 2024 and were signed on its behalf by:





B J Curthoys - Director


Monad Software Ltd (Registered number: 07521761)

Notes to the Financial Statements
for the year ended 30th March 2024

1. Statutory information

Monad Software Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned.

Intangible assets
Intangible assets arising from the development of ticketing software are measured at fair value less any subsequent accumulated amortisation and any subsequent accumulated impairment losses, with changes being recorded through the Revaluation Reserve.

It is the intention of the Directors not to capitalise future development costs but to treat development salaries as expenses recognised on the Profit and Loss account. The continued development expenses serve to maintain the software and keep it up to date, so there is no need to amortise the value of the intangible asset.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Office equipment - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Long term contracts
Amounts recoverable on long term contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, shareholders loans and directors' loans.

Shareholders loans, directors' loans (being repayable on demand), trade debtors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at 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 in the statement of income and retained earnings.


Monad Software Ltd (Registered number: 07521761)

Notes to the Financial Statements - continued
for the year ended 30th March 2024

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a period of 12 months and beyond from the date of signing these financial statements and have an expectation that the company should be in position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 3 ) .

4. Intangible fixed assets
Development
costs
£   
Cost or valuation
At 31st March 2023
and 30th March 2024 500,000
Net book value
At 30th March 2024 500,000
At 30th March 2023 500,000

Monad Software Ltd (Registered number: 07521761)

Notes to the Financial Statements - continued
for the year ended 30th March 2024

4. Intangible fixed assets - continued

Cost or valuation at 30th March 2024 is represented by:

Development
costs
£   
Valuation in 2023 500,000

5. Tangible fixed assets
Office
equipment
£   
Cost
At 31st March 2023 4,774
Additions 228
At 30th March 2024 5,002
Depreciation
At 31st March 2023 2,253
Charge for year 681
At 30th March 2024 2,934
Net book value
At 30th March 2024 2,068
At 30th March 2023 2,521

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 4,879 3,563
Amounts recoverable on contract 11,243 4,201
16,122 7,764

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 288 -
Taxation and social security 6,624 7,240
Other creditors 19,853 15,042
26,765 22,282

8. Reserves
Revaluation
reserve
£   
At 31st March 2023
and 30th March 2024 466,134