Mammoth Analytics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10662446 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

MAMMOTH ANALYTICS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

G Dudhoria

REGISTERED OFFICE:

68 Hanbury Street

London

E1 5JL

REGISTERED NUMBER:

10662446 (England and Wales)

ACCOUNTANTS:

Horizon Accounts Ltd

2 Underwood Row

London

N1 7LQ

FIXED ASSETS

Intangible assets

5

9,019

10,308

Tangible assets

6

1,358

3,716

10,377

14,024

CURRENT ASSETS

Debtors

7

184,657

131,213

Cash at bank

3,984

8,804

188,641

140,017

CREDITORS

Amounts falling due within one year

8

1,558,808

793,816

NET CURRENT LIABILITIES

(1,370,167

)

(653,799

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,359,790

)

(639,775

)

CREDITORS

Amounts falling due after more than one year

9

262,036

384,472

NET LIABILITIES

(1,621,826

)

(1,024,247

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(1,621,827

)

(1,024,248

)

SHAREHOLDERS' FUNDS

(1,621,826

)

(1,024,247

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 August 2022 and were signed by:

G Dudhoria - Director

1.	STATUTORY INFORMATION

Mammoth Analytics Limited 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

There are no significant judgements or estimates applied to the numbers contained within these financial statements.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Computer equipment - 3 years

Office equipment - 3 years

Government grants

Government grants and other government assistance policy represents grant income received in the year and is recognised in the income statement at the time the matching expenditure is incurred.

Financial instruments

The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Income Statement.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in, the Income Statement, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, loans from fellow Group companies that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation

Taxation for the year comprises current 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 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 statement of financial position date.

The tax credit disclosed in the income statement represents the surrender of corporation tax losses for research and development tax credits.

Research and development

Revenue expenditure on research and development is written off in the period in which it is incurred.

The company qualifies to make claims under the Research and Development Expenditure Credit (RDEC) scheme. Benefits arising from successful claims under the RDEC scheme are subject to Corporation Tax. Gross benefits are therefore reflected ‘above the line’ in Other income with the corresponding charge to Corporation Tax reflected in the Corporation Tax charge, or credit (if loss making). Benefits receivable from R&D claims are recognised in the reporting period in which the qualifying expenditure is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to income statement on a straight line basis over the period of lease.

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 income statement in the period to which they relate.

Going concern

The financial statements have been prepared on a going concern basis. The company incurred losses during the year and the director is aware that the statement of financial position shows net liabilities. However the director and the holding company Mammoth Software Inc. have agreed to continue to support the company to meet its obligations, if and when, they become due. The director is therefore of the opinion that he should continue to adopt the going concern basis of accounting in preparing the financial statements.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 4 ) .

5.	INTANGIBLE FIXED ASSETS

Patents

£

COST

At 1 April 2021

and 31 March 2022

12,886

AMORTISATION

At 1 April 2021

2,578

Amortisation for year

1,289

At 31 March 2022

3,867

NET BOOK VALUE

At 31 March 2022

9,019

At 31 March 2021

10,308

6.	TANGIBLE FIXED ASSETS

Office

Computer

equipment

equipment

Totals

£

£

£

COST

At 1 April 2021

and 31 March 2022

5,686

3,475

9,161

DEPRECIATION

At 1 April 2021

2,433

3,012

5,445

Charge for year

1,895

463

2,358

At 31 March 2022

4,328

3,475

7,803

NET BOOK VALUE

At 31 March 2022

1,358

-

1,358

At 31 March 2021

3,253

463

3,716

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

26,602

7,807

Other debtors

158,055

123,406

184,657

131,213

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

5,286

-

Trade creditors

23,483

4,655

Amounts owed to group undertakings

120,500

113,744

Taxation and social security

67,725

33,319

Other creditors

1,341,814

642,098

1,558,808

793,816

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

43,792

-

Other creditors

218,244

384,472

262,036

384,472

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.22

31.3.21

£

£

Within one year

3,462

-

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other companies within the group.

During the year, the director loaned £391,609 to the company (2021 - £5,000).

At the date of the financial statements, the company owed the director £966,767 (2021 - £575,158). The loans are interest free and repayable on demand.

12.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate controlling parent is Mammoth Software Inc., a company registered in Delaware, United States of America. It's registered office is 541 Divisadero Street, San Francisco, CA 94117.