Mapstack Ltd

(Registration number: 14495846)
Balance Sheet as at 30 November 2025

	Note	2025 £	2024 £
Current assets
Debtors	4	26,502	40,975
Cash at bank and in hand		21,376	61,425
		47,878	102,400
Creditors: Amounts falling due within one year	5	(8,534)	(7,559)
Total assets less current liabilities		39,344	94,841
Creditors: Amounts falling due after more than one year	5	(43,212)	(40,766)
Net (liabilities)/assets		(3,868)	54,075
Capital and reserves
Called up share capital	6	11	11
Share premium reserve		99,999	99,999
Other reserves		12,649	12,649
Profit and loss account		(116,527)	(58,584)
Total equity		(3,868)	54,075

Mapstack Ltd

(Registration number: 14495846)
Balance Sheet as at 30 November 2025

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the director on 22 May 2026
 

.........................................

C E Brown
Director

Mapstack Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1	Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Victoria Street
Bristol
BS1 6AA
England

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

The company is in its early stage of development and has incurred losses since incorporation as it continues to develop its product and establish its trading activities.

The director has prepared cash flow forecasts covering a period of at least twelve months from the date of approval of these financial statements. Based on these forecasts, and the continued support of the director, the director considers that the company will have sufficient funds to meet its liabilities as they fall due.

Accordingly, the director considers it appropriate to prepare the financial statements on a going concern basis.

Mapstack Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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 2025

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 2).

Mapstack Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

4	Debtors: amounts falling due within one year

	2025 £	2024 £
Prepayments and accrued income	-	40,975
Other debtors	68	-
Corporation tax	26,434	-
	26,502	40,975

5

Creditors

	2025 £	2024 £
Amounts falling due within one year
Trade creditors	84	726
Taxation and social security	2,150	4,183
Other creditors	3,600	-
Accruals	2,700	2,650
	8,534	7,559