Company Registration No. 13088838 (England and Wales)
Manantial Ltd
Unaudited accounts
for the year ended 31 December 2024
Manantial Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
6,797
9,562
Cash at bank and in hand
306,344
1,551,520
Creditors: amounts falling due within one year
(115,657)
(51,968)
Net current assets
252,806
1,592,056
Net assets
262,496
1,604,511
Called up share capital
4
4
Share premium
3,653,438
3,653,438
Profit and loss account
(3,390,946)
(2,048,931)
Shareholders' funds
262,496
1,604,511
For the year ending 31 December 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by
Dilanka Sasindra Kalutota
Director
Company Registration No. 13088838
Manantial Ltd
Notes to the Accounts
for the year ended 31 December 2024
Manantial Ltd is a private company, limited by shares, registered in England and Wales, registration number 13088838. The registered office is Boston House, Grove Business Park, Downsview Road, Wantage , Oxfordshire, OX12 9FF.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is requires to show a true and fair view.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statement have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared from 01 January 2024 - 31 December 2024
The company operates a defined contribution scheme for the benefit of its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately
from the Company in independently administered funds.
The pension cost charge represents contributions payable by the Company to the fund and amounted to £7,902.21 (2023 - £5,823.51).
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Manantial Ltd
Notes to the Accounts
for the year ended 31 December 2024
Interests in subsidiaries, associates and jointly controlled entities are initially measures at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2024
1,310
20,311
21,621
At 31 December 2024
1,802
23,339
25,141
At 1 January 2024
585
11,474
12,059
Charge for the year
451
5,834
6,285
At 31 December 2024
1,036
17,308
18,344
At 31 December 2024
766
6,031
6,797
At 31 December 2023
725
8,837
9,562
5
Investments
Subsidiary undertakings
Valuation at 1 January 2024
2,893
Valuation at 31 December 2024
2,893
Details of the company's subsidiaries at 31 December 2024 are as follows:
Name of undertaking:
Manantial (PVT) LTD
Registered office:
Sri Lanka
Nature of business:
Software engineering services
Class of shares held:
Ordinary shares
% Held direct:
100.00
Total Equity of the subsidiary company as at 31 December 2024 was : £40,861.55.
Name of undertaking:
Manantial Ltd
Notes to the Accounts
for the year ended 31 December 2024
Manantial Velaris SL
Registered office:
Spain
Nature of business:
Software engineering services
Class of shares held:
Ordinary shares
% Held direct:
100.00
Total Equity of the subsidiary company as at 31 December 2024 was : £18,193.69.
Amounts falling due within one year
Trade debtors
27,645
11,402
Accrued income and prepayments
20,617
38,804
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
4,608
3,639
Taxes and social security
8,715
15,815
Loans from directors
1,922
1,908
Deferred income
71,523
11,368
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Dilanka Sasindra Kalutota
The following balance was owed to the Director at the year end
608
14
-
622
Jose Fernandez-Castano Riancho
The following balance was owed to the Director at the year end
1,300
-
-
1,300
Manantial Ltd
Notes to the Accounts
for the year ended 31 December 2024
9
Transactions with related parties
During the period, Manantial Ltd made purchases of £639,764.24 from Manantial (PVT) Ltd and £196,707.12 from Manantial Velaris SL. All transactions were fully paid up as at 31 December 2024.
10
Average number of employees
During the year the average number of employees was 6 (2023: 5).