IRIS Accounts Production v25.1.4.42 12913257 Board of Directors 1.2.24 31.1.25 31.1.25 3.6.25 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh129132572024-01-31129132572025-01-31129132572024-02-012025-01-31129132572023-01-31129132572023-02-012024-01-31129132572024-01-3112913257ns15:EnglandWales2024-02-012025-01-3112913257ns14:PoundSterling2024-02-012025-01-3112913257ns10:Director12024-02-012025-01-3112913257ns10:PrivateLimitedCompanyLtd2024-02-012025-01-3112913257ns10:SmallEntities2024-02-012025-01-3112913257ns10:Audited2024-02-012025-01-3112913257ns10:SmallCompaniesRegimeForDirectorsReport2024-02-012025-01-3112913257ns10:SmallCompaniesRegimeForAccounts2024-02-012025-01-3112913257ns10:FullAccounts2024-02-012025-01-3112913257ns10:Director32024-02-012025-01-3112913257ns10:RegisteredOffice2024-02-012025-01-3112913257ns5:CurrentFinancialInstruments2025-01-3112913257ns5:CurrentFinancialInstruments2024-01-3112913257ns5:ShareCapital2025-01-3112913257ns5:ShareCapital2024-01-3112913257ns5:FurtherSpecificReserve1ComponentTotalEquity2025-01-3112913257ns5:FurtherSpecificReserve1ComponentTotalEquity2024-01-3112913257ns5:RetainedEarningsAccumulatedLosses2025-01-3112913257ns5:RetainedEarningsAccumulatedLosses2024-01-311291325712024-02-012025-01-3112913257ns5:WithinOneYearns5:CurrentFinancialInstruments2025-01-3112913257ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-31
REGISTERED NUMBER: 12913257 (England and Wales)















Financial Statements for the Year Ended 31 January 2025

for

MURAL IMAGINATION LTD

MURAL IMAGINATION LTD (REGISTERED NUMBER: 12913257)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MURAL IMAGINATION LTD

Company Information
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: J P Poysa
D L Lambert





REGISTERED OFFICE: Fourth Floor St James House
St James Square
Cheltenham
Gloucestershire
GL50 3PR





REGISTERED NUMBER: 12913257 (England and Wales)





AUDITORS: ML Audit LLP
Statutory Auditors
Freshford House
Redcliffe Way
Bristol
BS1 6NL

MURAL IMAGINATION LTD (REGISTERED NUMBER: 12913257)

Balance Sheet
31 JANUARY 2025

2025 2024
Notes £    £   
CURRENT ASSETS
Debtors: amounts falling due within
one year

4

1,603,288

1,407,768
Cash at bank 390,608 203,988
1,993,896 1,611,756
CREDITORS
Amounts falling due within one year 5 564,931 480,674
NET CURRENT ASSETS 1,428,965 1,131,082
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,428,965

1,131,082

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 290,204 215,781
Retained earnings 1,138,661 915,201
1,428,965 1,131,082

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 29 May 2025 and were signed on its behalf by:





D L Lambert - Director


MURAL IMAGINATION LTD (REGISTERED NUMBER: 12913257)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2025


1. STATUTORY INFORMATION

Mural Imagination 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

All amounts have been rounded to the nearest £1 pound sterling, unless otherwise indicated.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company’s accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no estimates and assumptions which are considered to have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue 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 Company is contracted by its parent company Tactivos, Inc. to deliver marketing services under an intercompany agreement. The Company is remunerated by its parent for these services.

MURAL IMAGINATION LTD (REGISTERED NUMBER: 12913257)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2025


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables and receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

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.

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.

MURAL IMAGINATION LTD (REGISTERED NUMBER: 12913257)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2025


2. ACCOUNTING POLICIES - continued

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of signing this report.

The company relies on the continued support from its parent company which has confirmed that it will continue to provide this for the foreseeable future. On that basis, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

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.

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.

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.

Interest income
Interest income is recognised in profit or loss using the effective interest method.

MURAL IMAGINATION LTD (REGISTERED NUMBER: 12913257)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2025


2. ACCOUNTING POLICIES - continued

Share based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.

The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme). Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

Restricted Stock Units
RSUs have been granted to certain of the company's employees under the Tactivos, Inc. 2016 stock plan. RSUs outstanding as of 31 January 2025 have service-based and performance-based vesting conditions. No charge is recognised on RSU's until the directors consider it probable that both vesting conditions will be met.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2024 - 46 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Amounts owed by group undertakings 1,590,167 1,394,407
Deferred tax 1,918 3,611
VAT 10,834 8,577
Prepayments 369 1,173
1,603,288 1,407,768

MURAL IMAGINATION LTD (REGISTERED NUMBER: 12913257)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2025


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors - 8,526
Corporation tax 233,440 135,807
Social security and other taxes 89,411 59,267
Other creditors 62,604 33,897
Accrued expenses 171,804 228,734
Accrued pension 7,672 14,443
564,931 480,674

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Guy Armitage-Norton (Senior Statutory Auditor)
for and on behalf of ML Audit LLP

7. PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £50,121 (2023: £102,453). Contributions totalling £7,672 (2023: £14,443) were payable to the fund at the reporting date and are included in creditors.

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under section 33 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 companies within the group.

9. ULTIMATE CONTROLLING PARTY

The Company is a wholly owned subsidiary of Tactivos, Inc., a company incorporated in the United States of America.

The smallest and largest group in which the results of the Company are consolidated is that headed by Tactivos, Inc., with its registered office at 611 Gateway Boulevard, Suite 120, South San Francisco, CA 94080, United States of America.

10. SHARE-BASED PAYMENT TRANSACTIONS

The company has taken the exemption provided in FRS 102 Section 1.12D not to disclose details of share-based payment arrangements concerning equity instruments of another group entity.