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REGISTERED NUMBER: 03334206 (England and Wales)















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: D J N Nabarro
C R Woodbine Parish





Registered office: C/O Cooper Parry
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 03334206 (England and Wales)





Accountants: Cooper Parry Advisory Limited
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 4 503,902 460,941

Current assets
Debtors 5 437,744 382,799
Cash at bank 7,589 54,238
445,333 437,037
Creditors
Amounts falling due within one year 6 5,924 10,425
Net current assets 439,409 426,612
Total assets less current liabilities 943,311 887,553

Provisions for liabilities 61,488 46,604
Net assets 881,823 840,949

Capital and reserves
Called up share capital 219,893 219,893
Retained earnings 661,930 621,056
Shareholders' funds 881,823 840,949

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

MATHENGINE LIMITED (REGISTERED NUMBER: 03334206)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





D J N Nabarro - Director


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
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.

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 774,701
Additions 5,836
Disposals (46,180 )
Revaluations 67,728
At 31 December 2023 802,085
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 503,902
At 31 December 2022 460,941

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 437,744 382,799

6. Creditors: amounts falling due within one year
31/12/23 31/12/22
£ £
Trade creditors - 1
Other creditors 5,924 10,424
5,924 10,425

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.