REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
MATHENGINE LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
MATHENGINE LIMITED |
MATHENGINE LIMITED (REGISTERED NUMBER: 03334206) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MATHENGINE LIMITED |
Company Information |
for the year ended 31 December 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
MATHENGINE LIMITED (REGISTERED NUMBER: 03334206) |
Balance Sheet |
31 December 2023 |
31/12/23 | 31/12/22 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital |
Retained earnings |
Shareholders' funds |
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. |
MATHENGINE LIMITED (REGISTERED NUMBER: 03334206) |
Balance Sheet - continued |
31 December 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
MATHENGINE LIMITED (REGISTERED NUMBER: 03334206) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | Statutory information |
Mathengine Limited is a private company , 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 |
Going concern |
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered a period of twelve months from the date of approval of the financial statements,and having taken account of all available information about the future, including the company’s most recent trading results, budgets and cash flow forecasts, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
Significant judgements and estimates |
The preparation of the financial statements in conformity with FRS 102 requires management to use accounting estimates and exercise judgement in the process of applying the company's accounting policies. There were no areas which required significant judgement or measurement uncertainty. |
Financial instruments |
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables, loans and borrowings. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
MATHENGINE LIMITED (REGISTERED NUMBER: 03334206) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
2. | Accounting policies - continued |
Foreign currencies |
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | Employees and directors |
The average number of employees during the year was NIL (2022 - NIL). |
4. | Fixed asset investments |
Other |
investments |
£ |
Cost or valuation |
At 1 January 2023 |
Additions |
Disposals | ( |
) |
Revaluations |
At 31 December 2023 |
Provisions |
At 1 January 2023 | 313,760 |
Provision for year | (3,713 | ) |
Eliminated on disposal | (11,864 | ) |
At 31 December 2023 | 298,183 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
Cost or valuation at 31 December 2023 is represented by: |
Other |
investments |
£ |
Valuation in 2022 | 328,769 |
Valuation in 2023 | 67,728 |
Cost | 405,588 |
802,085 |
MATHENGINE LIMITED (REGISTERED NUMBER: 03334206) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
5. | Debtors: amounts falling due within one year |
31/12/23 | 31/12/22 |
£ | £ |
Other debtors |
6. | Creditors: amounts falling due within one year |
31/12/23 | 31/12/22 |
£ | £ |
Trade creditors |
Other creditors |
7. | Related party disclosures |
During the year the Company advanced unsecured loans amounting to £58,695 (2022: £114,150) to Cato Strategic Ltd at an interest rate of 15%. At the year end the Company was owed £437,744 (2022: £379,048) by Cato Strategic Ltd. Cato Strategic Limited is a company that is 60% owned by D J N Nabarro, who is a Director of MathEngine PLC. |
8. | Ultimate controlling party |
There is no controlling party. |