Mentor Management Applications Ltd Filleted accounts for Companies House (small and micro)
Mentor Management Applications Ltd Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
01862925
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Financial Statements |
Period from 1 May 2018 to 29 April 2019
Contents |
Page |
Statement of financial position |
1 |
Notes to the financial statements |
2 |
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Statement of Financial Position |
29 Apr 19 |
30 Apr 18 |
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Note |
£ |
£ |
£ |
Current assets
Cash at bank and in hand |
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Creditors: amounts falling due within one year |
5 |
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Net current liabilities |
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Total assets less current liabilities |
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(
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders deficit |
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(
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
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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 financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
28 April 2020
, and are signed on behalf of the board by:
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Director |
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Company registration number:
01862925
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Notes to the Financial Statements |
Period from 1 May 2018 to 29 April 2019
1.
General information
The principal activity of the company during the year was that of supplying computer software, related hardware and associated services. The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Regent House 316 Bealuh Hill, London, United Kingdom, SE19 3HF.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Software Licences |
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Research & Development |
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Over the lesser of the life of the project or the year of sale |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Intangible assets
Goodwill |
Development costs |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 May 2018 and 29 April 2019 |
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Amortisation |
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At 1 May 2018 and 29 April 2019 |
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Carrying amount |
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At 29 April 2019 |
– |
– |
– |
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At 30 April 2018 |
– |
– |
– |
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5.
Creditors:
amounts falling due within one year
29 Apr 19 |
30 Apr 18 |
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£ |
£ |
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Other creditors |
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6.
Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
Balance brought forward and outstanding |
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29 Apr 19 |
30 Apr 18 |
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£ |
£ |
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(
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(
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7.
Related party transactions
The company was under the control of
Mr S Vatidis
throughout the year. During the year an amount of £290,741 (2018: £290,741) is due to Mr S Vatidis
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