Metica Trading Limited 14537516 false 2022-12-13 2023-12-31 2023-12-31 The principal activity of the company is that of a Software-as-a-Service (SaaS) company that provides monetisation technology to mobile games. Metica develops machine learning algorithms and a real-time data infrastructure to make existing in-game offers more persuasive to players, generating a revenue surplus for the game operator which Metica captures of portion of through its license fee. Digita Accounts Production Advanced 6.30.9574.0 true true 14537516 2022-12-13 2023-12-31 14537516 2023-12-31 14537516 bus:OrdinaryShareClass1 2023-12-31 14537516 core:CurrentFinancialInstruments 2023-12-31 14537516 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14537516 core:FurnitureFittingsToolsEquipment 2023-12-31 14537516 core:ParentEntities 2023-12-31 14537516 core:Share-basedArrangement1 2023-12-31 14537516 bus:SmallEntities 2022-12-13 2023-12-31 14537516 bus:AuditExemptWithAccountantsReport 2022-12-13 2023-12-31 14537516 bus:FullAccounts 2022-12-13 2023-12-31 14537516 bus:SmallCompaniesRegimeForAccounts 2022-12-13 2023-12-31 14537516 bus:RegisteredOffice 2022-12-13 2023-12-31 14537516 bus:Director1 2022-12-13 2023-12-31 14537516 bus:Director2 2022-12-13 2023-12-31 14537516 bus:OrdinaryShareClass1 2022-12-13 2023-12-31 14537516 bus:PrivateLimitedCompanyLtd 2022-12-13 2023-12-31 14537516 core:FurnitureFittingsToolsEquipment 2022-12-13 2023-12-31 14537516 core:OfficeEquipment 2022-12-13 2023-12-31 14537516 core:ParentEntities 2022-12-13 2023-12-31 14537516 core:Share-basedArrangement1 2022-12-13 2023-12-31 14537516 countries:EnglandWales 2022-12-13 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14537516

Metica Trading Limited

Unaudited Filleted Financial Statements

for the Period from 13 December 2022 to 31 December 2023

 

Metica Trading Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Metica Trading Limited

Company Information

Directors

Mr Philipp Mohr

Mr Pulitha Liyanagama

Registered office

Tiger House
Suite 11
Burton Street
London
WC1H 9BY

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

Metica Trading Limited

(Registration number: 14537516)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

22,022

Current assets

 

Debtors

5

12,881

Cash at bank and in hand

 

92,706

 

105,587

Creditors: Amounts falling due within one year

6

(1,502,974)

Net current liabilities

 

(1,397,387)

Net liabilities

 

(1,375,365)

Capital and reserves

 

Called up share capital

7

1

Retained earnings

(1,375,366)

Shareholders' deficit

 

(1,375,365)

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 December 2024 and signed on its behalf by:
 

.........................................
Mr Philipp Mohr
Director

 

Metica Trading Limited

Notes to the Unaudited Financial Statements for the Period from 13 December 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tiger House
Suite 11
Burton Street
London
WC1H 9BY

These financial statements were authorised for issue by the Board on 3 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company's accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Metica Trading Limited

Notes to the Unaudited Financial Statements for the Period from 13 December 2022 to 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Metica Trading Limited

Notes to the Unaudited Financial Statements for the Period from 13 December 2022 to 31 December 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Share based payments

The company operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 10.

 

Metica Trading Limited

Notes to the Unaudited Financial Statements for the Period from 13 December 2022 to 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

27,527

27,527

At 31 December 2023

27,527

27,527

Depreciation

Charge for the period

5,505

5,505

At 31 December 2023

5,505

5,505

Carrying amount

At 31 December 2023

22,022

22,022

5

Debtors

Current

2023
£

Other debtors

12,881

 

12,881

 

Metica Trading Limited

Notes to the Unaudited Financial Statements for the Period from 13 December 2022 to 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Trade creditors

 

2,203

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

1,454,604

Taxation and social security

 

43,000

Accruals and deferred income

 

2,500

Other creditors

 

667

 

1,502,974

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each

1

1

     
 

Metica Trading Limited

Notes to the Unaudited Financial Statements for the Period from 13 December 2022 to 31 December 2023

8

Share-based payments

Key Employee Share Option Scheme

Scheme details and movements

Certain employees of the company have been granted options over the shares in Metica Holdings Limited. The options are granted with a fixed exercise price, are exercisable three years after the date of grant and expire ten years after the date of grant. Employees are required to remain in employment with the group.

The company recognises an equity-settled share-based payment expense based on a reasonable allocation of the total charge for the group. This allocation is the total charge for the group pro-rated for the number of participating employees of the company.

On exercise of the shares by the employees, the company is charged the intrinsic value of shares by Metica Holdings Limited.

The movements in the number of share options during the period were as follows:

2023
Number

Granted during the period

3,032,500

Forfeited during the period

(575,000)

Outstanding, end of period

2,457,500

The movements in the weighted average exercise price of share options during the period were as follows:

2023
£

Granted during the period

0.28

Forfeited during the period

0.01

Outstanding, end of period

0.34

9

Related party transactions

Loans from related parties

2023

Parent
£

Total
£

Advanced

1,454,604

1,454,604

At end of period

1,454,604

1,454,604