Registration number:
Mapstack Ltd
for the Year Ended 30 November 2024
Pages for filing with Registrar
Mapstack Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Mapstack Ltd
Company Information
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Director |
C E Brown |
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Registered office |
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Registered number |
14495846 |
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Accountant |
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Mapstack Ltd
(Registration number: 14495846)
Balance Sheet as at 30 November 2024
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Note |
2024 |
2023 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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10 |
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Share premium reserve |
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- |
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Other reserves |
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12,649 |
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Profit and loss account |
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(11,642) |
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Total equity |
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1,017 |
Mapstack Ltd
(Registration number: 14495846)
Balance Sheet as at 30 November 2024
For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised for issue by the
.........................................
Director
Mapstack Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
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Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The director has indicated his willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.
Government grants
Government grants are recognised, using the performance model, at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.
Research and development costs
Research and development costs are written off to profit or loss in the year incurred.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand.
Trade creditors
Trade creditors are recognised initially at the transaction price and subsequently measured at cost.
Mapstack Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Convertible debt
The net proceeds received from the issue of convertible debt instruments are split between a liability element and an equity component at the date of issue. The fair value of the liability component is estimated using the prevailing market interest rate for similar non-convertible debt. The difference between the proceeds of issue of the convertible bonds and the fair value assigned to the liability component, representing the embedded option to convert the liability into equity of the company, is included in equity and is not remeasured. The liability component is carried at amortised cost.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Mapstack Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
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Debtors: amounts falling due within one year |
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2024 |
2023 |
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Prepayments and accrued income |
40,975 |
11,454 |
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Other debtors |
- |
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Creditors |
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2024 |
2023 |
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Amounts falling due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
- |
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Accruals |
2,650 |
2,375 |
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2024 |
2023 |
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Due after one year |
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Convertible debt |
40,766 |
37,351 |
The convertible debt is unsecured and interest free. The convertible debt matures on 1 June 2028.
Mapstack Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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8.00 |
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8.00 |
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2.16 |
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1.40 |
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0.60 |
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0.60 |
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During the year, 76 A Ordinary shares a nominal value of £0.76 were issued for an aggregate consideration of £100,000.
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Related party transactions |
Summary of transactions with entities with joint control or significant interest
During the year under review, Mangomaps Limited advanced an interest free loan to the company of £15,000 which was also repaid during the year.