Acorah Software Products - Accounts Production 16.0.110 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 03943617 Mr Patrick Kremer Mr James Mason Ms Nina Mitts iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03943617 2022-12-31 03943617 2023-12-31 03943617 2023-01-01 2023-12-31 03943617 frs-core:CurrentFinancialInstruments 2023-12-31 03943617 frs-core:Non-currentFinancialInstruments 2023-12-31 03943617 frs-core:ComputerEquipment 2023-12-31 03943617 frs-core:ComputerEquipment 2023-01-01 2023-12-31 03943617 frs-core:ComputerEquipment 2022-12-31 03943617 frs-core:SharePremium 2023-12-31 03943617 frs-core:ShareCapital 2023-12-31 03943617 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 03943617 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03943617 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 03943617 frs-bus:SmallEntities 2023-01-01 2023-12-31 03943617 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03943617 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03943617 frs-bus:Director1 2023-01-01 2023-12-31 03943617 frs-bus:Director1 2022-12-31 03943617 frs-bus:Director1 2023-12-31 03943617 frs-bus:Director2 2023-01-01 2023-12-31 03943617 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 03943617 frs-countries:EnglandWales 2023-01-01 2023-12-31 03943617 2021-12-31 03943617 2022-12-31 03943617 2022-01-01 2022-12-31 03943617 frs-core:CurrentFinancialInstruments 2022-12-31 03943617 frs-core:Non-currentFinancialInstruments 2022-12-31 03943617 frs-core:SharePremium 2022-12-31 03943617 frs-core:ShareCapital 2022-12-31 03943617 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 03943617
Mtivity Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Clear Accounting Limited
Parc Gwyddoniaeth Menai
Gaerwen
Ynys Mon
LL60 6AG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 03943617
2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,516 15,591
13,516 15,591
CURRENT ASSETS
Debtors 5 784,560 403,590
Cash at bank and in hand 423,155 467,515
1,207,715 871,105
Creditors: Amounts Falling Due Within One Year 6 (1,197,748 ) (767,272 )
NET CURRENT ASSETS (LIABILITIES) 9,967 103,833
TOTAL ASSETS LESS CURRENT LIABILITIES 23,483 119,424
Creditors: Amounts Falling Due After More Than One Year 7 (18,380 ) (27,243 )
NET ASSETS 5,103 92,181
CAPITAL AND RESERVES
Called up share capital 8 712,419 712,419
Share premium account 11,703,261 11,763,262
Profit and Loss Account (12,410,577 ) (12,383,500 )
SHAREHOLDERS' FUNDS 5,103 92,181
Page 1
Page 2
For the year ending 31 December 2023 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.
On behalf of the board
Mr Patrick Kremer
Director
30th October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mtivity Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03943617 . The registered office is Kemp House, 152-160 City Road, London, EC1V 2NX.
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. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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 25% reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2022: 11)
11 11
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2023 31,495
Additions 4,150
As at 31 December 2023 35,645
Depreciation
As at 1 January 2023 15,904
Provided during the period 6,225
As at 31 December 2023 22,129
Net Book Value
As at 31 December 2023 13,516
As at 1 January 2023 15,591
Page 3
Page 4
5. Debtors
2023 2022
as restated
£ £
Due within one year
Trade debtors 703,383 403,590
Amounts recoverable on contracts 80,429 -
Other debtors 748 -
784,560 403,590
6. Creditors: Amounts Falling Due Within One Year
2023 2022
as restated
£ £
Trade creditors 12,892 73
Bank loans and overdrafts 9,812 10,000
Amounts owed to group undertakings 682,556 582,971
Other creditors 353,179 73,913
Taxation and social security 139,309 100,315
1,197,748 767,272
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
as restated
£ £
Bank loans 18,380 27,243
8. Share Capital
2023 2022
as restated
£ £
Allotted, Called up and fully paid 712,419 712,419
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Patrick Kremer - 748 - - 748
The above loan is unsecured, interest free and repayable on demand.
Page 4