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Company No: 04052652 (England and Wales)

MYTHIC BEASTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

MYTHIC BEASTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

MYTHIC BEASTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
MYTHIC BEASTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
DIRECTORS R A Smith
P R Stevens
P D Warren
SECRETARY J M Mckenzie
REGISTERED OFFICE 45 Argyle Street
CB1 3LR
Cambridge
United Kingdom
COMPANY NUMBER 04052652 (England and Wales)
ACCOUNTANT S&W Partners (East) LLP
Stonecross
Trumpington High Street
Cambridge
CB2 9SU
MYTHIC BEASTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
MYTHIC BEASTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 19,628 24,747
Tangible assets 4 272,121 330,038
Investments 5 1 1
291,750 354,786
Current assets
Debtors 6 165,827 170,318
Cash at bank and in hand 787,893 906,196
953,720 1,076,514
Creditors: amounts falling due within one year 7 ( 952,972) ( 1,014,294)
Net current assets 748 62,220
Total assets less current liabilities 292,498 417,006
Provision for liabilities 8 ( 60,243) ( 75,036)
Net assets 232,255 341,970
Capital and reserves
Called-up share capital 1,465 1,465
Share premium account 10,746 10,746
Profit and loss account 220,044 329,759
Total shareholders' funds 232,255 341,970

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Mythic Beasts Limited (registered number: 04052652) were approved and authorised for issue by the Board of Directors on 28 May 2025. They were signed on its behalf by:

R A Smith
Director
MYTHIC BEASTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
MYTHIC BEASTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mythic Beasts Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 45 Argyle Street, CB1 3LR, Cambridge, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Mythic Beasts Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

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

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

**Sale of goods**
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and the costs incurred or to be incurred in respect if the transaction can be measured reliably.

**Rendering of service**
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably, and
- the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 3 years straight line
Trademarks, patents and licences 3 years straight line
Other intangible assets 3 - 10 years straight line
Goodwill

Goodwill arises on a business combination and represents any excess of consideration given over fair value of the identifiable assets and liabilities acquired. It is written off on a straight line basis over its useful economic life [state number of years] taking into account any provision for impairment.

Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of [amount of years] years which is their estimated useful economic life. Provision is made for any impairment.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

Pensions

**Defined contribution pension plan**
The Company operates a defined contribution plan for 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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 13 12

3. Intangible assets

Goodwill Trademarks, patents
and licences
Other intangible assets Total
£ £ £ £
Cost
At 01 September 2023 67,005 8,474 51,200 126,679
At 31 August 2024 67,005 8,474 51,200 126,679
Accumulated amortisation
At 01 September 2023 67,005 8,474 26,453 101,932
Charge for the financial year 0 0 5,119 5,119
At 31 August 2024 67,005 8,474 31,572 107,051
Net book value
At 31 August 2024 0 0 19,628 19,628
At 31 August 2023 0 0 24,747 24,747

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 September 2023 1,740,437 1,740,437
Additions 140,072 140,072
At 31 August 2024 1,880,509 1,880,509
Accumulated depreciation
At 01 September 2023 1,410,399 1,410,399
Charge for the financial year 197,989 197,989
At 31 August 2024 1,608,388 1,608,388
Net book value
At 31 August 2024 272,121 272,121
At 31 August 2023 330,038 330,038

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 September 2023 1
At 31 August 2024 1
Carrying value at 31 August 2024 1
Carrying value at 31 August 2023 1

6. Debtors

2024 2023
£ £
Trade debtors 103,885 75,440
Amounts owed by Group undertakings 0 37,727
Prepayments 61,942 57,151
165,827 170,318

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 159,292 311,949
Accruals and deferred income 640,038 627,320
Taxation and social security 150,008 70,853
Other creditors 3,634 4,172
952,972 1,014,294

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 75,036) ( 64,821)
Credited/(charged) to the Statement of Income and Retained Earnings 14,793 ( 10,215)
At the end of financial year ( 60,243) ( 75,036)

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 594,845 832,568
between one and five years 748,042 1,160,882
after five years 195,307 195,306
1,538,194 2,188,756