Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-01falsefalseFinancial consultancy11truetrue 08523865 2024-01-01 2024-12-31 08523865 2023-01-01 2023-12-31 08523865 2024-12-31 08523865 2023-12-31 08523865 c:Director1 2024-01-01 2024-12-31 08523865 d:OfficeEquipment 2024-01-01 2024-12-31 08523865 d:OfficeEquipment 2024-12-31 08523865 d:OfficeEquipment 2023-12-31 08523865 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08523865 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 08523865 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 08523865 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 08523865 d:ComputerSoftware 2024-01-01 2024-12-31 08523865 d:ComputerSoftware 2024-12-31 08523865 d:ComputerSoftware 2023-12-31 08523865 d:CurrentFinancialInstruments 2024-12-31 08523865 d:CurrentFinancialInstruments 2023-12-31 08523865 d:Non-currentFinancialInstruments 2024-12-31 08523865 d:Non-currentFinancialInstruments 2023-12-31 08523865 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 08523865 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08523865 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 08523865 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 08523865 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 08523865 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 08523865 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-12-31 08523865 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 08523865 d:ShareCapital 2024-12-31 08523865 d:ShareCapital 2023-12-31 08523865 d:SharePremium 2024-12-31 08523865 d:SharePremium 2023-12-31 08523865 d:CapitalRedemptionReserve 2024-12-31 08523865 d:CapitalRedemptionReserve 2023-12-31 08523865 d:RetainedEarningsAccumulatedLosses 2024-12-31 08523865 d:RetainedEarningsAccumulatedLosses 2023-12-31 08523865 c:OrdinaryShareClass1 2024-01-01 2024-12-31 08523865 c:OrdinaryShareClass1 2024-12-31 08523865 c:OrdinaryShareClass1 2023-12-31 08523865 c:OrdinaryShareClass2 2024-01-01 2024-12-31 08523865 c:OrdinaryShareClass2 2024-12-31 08523865 c:OrdinaryShareClass2 2023-12-31 08523865 c:OrdinaryShareClass3 2024-01-01 2024-12-31 08523865 c:OrdinaryShareClass3 2024-12-31 08523865 c:OrdinaryShareClass3 2023-12-31 08523865 c:FRS102 2024-01-01 2024-12-31 08523865 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08523865 c:FullAccounts 2024-01-01 2024-12-31 08523865 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08523865 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 08523865 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 08523865 d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 08523865 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 08523865









MARTHEART LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
MARTHEART LIMITED
REGISTERED NUMBER: 08523865

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
10,053
1

Tangible assets
 5 
3,000
-

  
13,053
1

Current assets
  

Debtors: amounts falling due within one year
 6 
357,524
60,000

Cash at bank and in hand
 7 
24,884
4,535

  
382,408
64,535

Creditors: amounts falling due within one year
 8 
(473,680)
(93,877)

Net current liabilities
  
 
 
(91,272)
 
 
(29,342)

Total assets less current liabilities
  
(78,219)
(29,341)

Creditors: amounts falling due after more than one year
 9 
(5,834)
(26,728)

  

Net liabilities
  
(84,053)
(56,069)


Capital and reserves
  

Called up share capital 
 11 
5,004
5,004

Share premium account
  
872,085
872,085

Capital redemption reserve
  
5,000
5,000

Profit and loss account
  
(966,142)
(938,158)

  
(84,053)
(56,069)


Page 1

 
MARTHEART LIMITED
REGISTERED NUMBER: 08523865
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S H D Eyraud
Director

Date: 4 June 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MARTHEART LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Martheart Limited is a private company, limited by shares and registered in England and Wales. The company's registered office is Charles Lake House, Claire Causeway, Crossways Business Park, Dartford, Kent, DA2 6QA.
The principal activity of the company is that of providing management consultancy activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company is supported by finance provided by the director. The director has confirmed that he will continue to support the company as required and there is presently no intention to withdraw this financing in the forseeable future. On the basis of the above the accounts have been prepared on the going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MARTHEART LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.7

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.

Page 4

 
MARTHEART LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:.


Office equipment
-
33%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 5

 
MARTHEART LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Intangible assets




Development expenditure
Cryptocurrency asset
Total

£
£
£



Cost


At 1 January 2024
9,557,031
-
9,557,031


Additions
-
12,433
12,433



At 31 December 2024

9,557,031
12,433
9,569,464



Amortisation


At 1 January 2024
9,557,030
-
9,557,030


Impairment charge
-
2,381
2,381



At 31 December 2024

9,557,030
2,381
9,559,411



Net book value



At 31 December 2024
1
10,052
10,053



At 31 December 2023
1
-
1



Page 6

 
MARTHEART LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
3,177



At 31 December 2024

3,177



Depreciation


Charge for the year on owned assets
177



At 31 December 2024

177



Net book value



At 31 December 2024
3,000



At 31 December 2023
-


6.


Debtors

2024
2023
£
£


Prepayments and accrued income
357,524
60,000

357,524
60,000



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
24,884
4,535

24,884
4,535


Page 7

 
MARTHEART LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,001
10,001

Trade creditors
333
67,837

Other taxation and social security
4,811
5,351

Other creditors
455,785
7,938

Accruals and deferred income
2,750
2,750

473,680
93,877



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,834
26,728

5,834
26,728



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,001
10,001

Amounts falling due 1-2 years

Bank loans
5,834
10,001

Amounts falling due 2-5 years

Bank loans
-
16,727


15,835
36,729


Page 8

 
MARTHEART LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



379,475 (2023 - 379,475) A Ordinary shares of £0.01 each
3,794.75
3,794.75
120,525 (2023 - 120,525) B Ordinary shares of £0.01 each
1,205.25
1,205.25
4 (2023 - 4) A Ordinary shares of £1.00 each
4.00
4.00

5,004.00

5,004.00



12.


Related party transactions

Included within other creditors falling due within one year is an amount owed to the director of the company of £455,785 (2023: £7,938).

 
Page 9