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REGISTERED NUMBER: 12925594 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

MENTOR360 LIMITED

MENTOR360 LIMITED (REGISTERED NUMBER: 12925594)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Balance sheet 1

Notes to the financial statements 2


MENTOR360 LIMITED (REGISTERED NUMBER: 12925594)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 303,721 321,742
Tangible assets 5 462 -
304,183 321,742

Current assets
Debtors 6 86,589 43,872
Cash at bank 283,248 6,030
369,837 49,902
Creditors
Amounts falling due within one year 7 1,445,371 880,854
Net current liabilities (1,075,534 ) (830,952 )
Total assets less current liabilities (771,351 ) (509,210 )

Capital and reserves
Called up share capital 8 1,000 1,000
Retained earnings (772,351 ) (510,210 )
Shareholders' funds (771,351 ) (509,210 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 July 2025 and were signed on its behalf by:





Mr R Bassett - Director


MENTOR360 LIMITED (REGISTERED NUMBER: 12925594)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. Statutory information

Mentor360 Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 12925594. The registered office is 7&8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 58 York Road, Broadstone, Dorset, BH18 8ET.

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 Company has made a loss during the year and has a deficiency of assets at the year end of £771,351. The Company is dependent upon the continued support of its directors. The directors have confirmed their support of the Company over the next 12 months, in order that it can meet its day to day working capital requirements.

Turnover
Turnover represents income, net of VAT, in respect of mobile app subscriptions.

Generative ai development
Development costs capitalised are in relation to the 'Digital Twin' project developed internally. These assets are being amortised over the estimated useful life of the 'Digital Twin' project, being 5 years.

Mobile app development
Mobile app development is recognised at cost and includes build costs, development costs and the cost of content up to the date the mobile app is available for purchase by the general public, at which point these costs are amortised evenly over the estimated useful life of three years from the date of release.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

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 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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

MENTOR360 LIMITED (REGISTERED NUMBER: 12925594)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


3. Employees and directors

The average number of employees during the year was 3 (2023 - 2 ) .

4. Intangible fixed assets
Mobile
Development app
costs development Totals
£    £    £   
Cost
At 1 November 2023 - 515,699 515,699
Additions 159,035 - 159,035
Impairments - (36,474 ) (36,474 )
Reclassification/transfer 220,616 (220,616 ) -
At 31 October 2024 379,651 258,609 638,260
Amortisation
At 1 November 2023 - 193,957 193,957
Amortisation for year 75,930 64,652 140,582
At 31 October 2024 75,930 258,609 334,539
Net book value
At 31 October 2024 303,721 - 303,721
At 31 October 2023 - 321,742 321,742

5. Tangible fixed assets
Computer
equipment
£   
Cost
Additions 616
At 31 October 2024 616
Depreciation
Charge for year 154
At 31 October 2024 154
Net book value
At 31 October 2024 462

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 3,161 3,166
Tax 57,512 -
VAT 23,343 35,972
Prepayments 2,573 4,734
86,589 43,872

MENTOR360 LIMITED (REGISTERED NUMBER: 12925594)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 262 2,940
Directors' current accounts 1,442,909 876,064
Accruals and deferred income 2,200 1,850
1,445,371 880,854

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. Ultimate controlling party

The company is controlled by Mr R Basset by way of an agreement with the shareholders that he controls 50.1% of the business operational decision making.