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REGISTERED NUMBER: 12143833 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

MENTORLOOP LTD

MENTORLOOP LTD (REGISTERED NUMBER: 12143833)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MENTORLOOP LTD

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTORS: L Lloyd
H Holmes





REGISTERED OFFICE: 10 John Street
London
WC1N 2EB





REGISTERED NUMBER: 12143833 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered Accountants
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

MENTORLOOP LTD (REGISTERED NUMBER: 12143833)

BALANCE SHEET
30 June 2024

30.6.24 30.6.23
Notes £    £   
CURRENT ASSETS
Debtors 4 446,879 278,657
Cash at bank 118,024 117,005
564,903 395,662
CREDITORS
Amounts falling due within one year 5 40,860 41,191
NET CURRENT ASSETS 524,043 354,471
TOTAL ASSETS LESS CURRENT
LIABILITIES

524,043

354,471

CAPITAL AND RESERVES
Called up share capital 6 1 1
Retained earnings 524,042 354,470
SHAREHOLDERS' FUNDS 524,043 354,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

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 18 February 2025 and were signed on its behalf by:





H Holmes - Director


MENTORLOOP LTD (REGISTERED NUMBER: 12143833)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Mentorloop Ltd is a private company, limited by shares , 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.

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

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Mentorloop is a subscription based business that provide an online mentoring platform for businesses to manage and promote mentoring programmes within their organisation. As subscriptions are non-cancellable, income is recognised in the accounts as and when invoiced.

Financial instruments
Financial Instruments as covered by Section 11 of FRS 102 (Section 1A) are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102 (Section 1A).

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.

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.

MENTORLOOP LTD (REGISTERED NUMBER: 12143833)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 29,373 47,068
Amounts owed by group undertakings 410,322 231,073
Other debtors 7,184 516
446,879 278,657

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Taxation and social security 37,761 39,691
Other creditors & accruals 3,099 1,500
40,860 41,191

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1 Ordinary £1 1 1

7. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

8. ULTIMATE PARENT COMPANY

The ultimate parent company is Mentorloop Pty Ltd, a company incorporated in Australia by virtue of their 100% shareholding in Mentorloop Ltd.