REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30TH NOVEMBER 2023 |
FOR |
META SPHERE GROUP LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30TH NOVEMBER 2023 |
FOR |
META SPHERE GROUP LTD |
META SPHERE GROUP LTD (REGISTERED NUMBER: 13721900) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
META SPHERE GROUP LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 Jesus Lane |
Cambridge |
Cambridgeshire |
CB5 8BA |
META SPHERE GROUP LTD (REGISTERED NUMBER: 13721900) |
BALANCE SHEET |
30TH NOVEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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 were approved by the director and authorised for issue on |
META SPHERE GROUP LTD (REGISTERED NUMBER: 13721900) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
META Sphere Group Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
An impairment loss has been recognised in the Profit and loss account, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value. |
Software development costs |
Software and website development costs (not research costs) are recognised at cost less impairment as internally generated intangibles only if it be can be demonstrated that: |
a) the technical feasibility of completing the intangible asset so that it will be available for use or sale; |
b) the intention to complete the intangible asset and use or sell it; |
c) the ability to use or sell the intangible asset; |
d) how the intangible asset will generate probable future economic benefits; |
e) the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; |
f) the ability to measure reliably the expenditure attributable to the intangible asset during its development. |
Financial instruments |
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
META SPHERE GROUP LTD (REGISTERED NUMBER: 13721900) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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. |
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. |
Going concern |
The director has made the decision that the company is no longer required as such steps will be taken to close the company. The financial statements are therefore not a going concern and have been prepared on a basis other than going concern. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1st December 2022 |
Impairments | (14,042 | ) |
At 30th November 2023 |
NET BOOK VALUE |
At 30th November 2023 |
At 30th November 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Called up share capital not paid |
Prepayments and accrued income |
META SPHERE GROUP LTD (REGISTERED NUMBER: 13721900) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
Directors' current accounts | 743 | 13,551 |
Accrued expenses |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
99 Ordinary shares of £1 were issued during the year |
9. | RELATED PARTY DISCLOSURES |
Included in other creditors is a balance due on a directors loan account of £743 (2022: £13,551). This balance is interest free and repayable on demand. |
10. | POST BALANCE SHEET EVENTS |
On the 20th February 2023 99 ordinary shares of £1 were issued at par. |