Mathengine Limited - Accounts to registrar (filleted) - small 18.2

Mathengine Limited - Accounts to registrar (filleted) - small 18.2

MATHENGINE LIMITED - Company Information

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REGISTERED NUMBER: 03334206 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2021

for

MATHENGINE LIMITED
MATHENGINE LIMITED (REGISTERED NUMBER: 03334206)

Contents of the Financial Statements
for the year ended 31 December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MATHENGINE LIMITED

Company Information
for the year ended 31 December 2021







Directors: D J N Nabarro
C R Woodbine Parish





Registered office: 3 Danebrook Court
Langford Lane
Kidlington
Oxfordshire
OX5 1LQ





Registered number: 03334206 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
3 Danebrook Court
Langford Lane
Kidlington
Oxfordshire
OX5 1LQ
Page 1
MATHENGINE LIMITED (REGISTERED NUMBER: 03334206)

Balance Sheet
31 December 2021

31/12/21 31/12/20
Notes £ £ £ £
Fixed assets
Investments 4 510,352 399,702

Current assets
Debtors 5 254,632 338,658
Cash at bank 98,531 25,146
353,163 363,804
Creditors
Amounts falling due within one year 6 8,172 10,760
Net current assets 344,991 353,044
Total assets less current liabilities 855,343 752,746

Provisions for liabilities 49,640 25,053
Net assets 805,703 727,693

Capital and reserves
Called up share capital 219,893 219,893
Retained earnings 585,810 507,800
Shareholders' funds 805,703 727,693

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 notes form part of these financial statements

Page 2
MATHENGINE LIMITED (REGISTERED NUMBER: 03334206)

Balance Sheet - continued
31 December 2021


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 Board of Directors and authorised for issue on 29 September 2022 and were signed on its behalf by:





D J N Nabarro - Director


The notes form part of these financial statements

Page 3
MATHENGINE LIMITED (REGISTERED NUMBER: 03334206)

Notes to the Financial Statements
for the year ended 31 December 2021


1. Statutory information

On 23 September 2020 Mathengine Plc was re-registered under the Companies Act 2006 as a private company and is now incorporated under the name of Mathengine Limited and is limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of the financial statements in conformity with FRS 102 requires management to use accounting estimates and exercise judgement in the process of applying the company's accounting policies. There were no areas which required significant judgement or measurement uncertainty.

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
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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 profit or loss on a straight line basis over the period of the lease.

Page 4
MATHENGINE LIMITED (REGISTERED NUMBER: 03334206)

Notes to the Financial Statements - continued
for the year ended 31 December 2021


2. Accounting policies - continued

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered a period of twelve months from the date of approval of the financial statements,and having taken account of all available information about the future, including the company’s most recent trading results, budgets and cash flow forecasts, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. Employees and directors

The average number of employees during the year was NIL (2020 - NIL).

4. Fixed asset investments
Other
investments
£
Cost or valuation
At 1 January 2021 593,584
Additions 127,791
Disposals (78,112 )
Revaluations 139,708
At 31 December 2021 782,971
Provisions
At 1 January 2021 193,882
Provision for year 81,054
Eliminated on disposal (2,317 )
At 31 December 2021 272,619
Net book value
At 31 December 2021 510,352
At 31 December 2020 399,702

Cost or valuation at 31 December 2021 is represented by:

Other
investments
£
Valuation in 2021 271,566
Cost 511,405
782,971

Page 5
MATHENGINE LIMITED (REGISTERED NUMBER: 03334206)

Notes to the Financial Statements - continued
for the year ended 31 December 2021


5. Debtors: amounts falling due within one year
31/12/21 31/12/20
£ £
Other debtors 254,632 338,658

6. Creditors: amounts falling due within one year
31/12/21 31/12/20
£ £
Trade creditors 2,248 -
Other creditors 5,924 10,760
8,172 10,760

7. Related party disclosures

During the year the Company advanced unsecured loans amounting to £114,150 to Cato Strategic Ltd at an interest rate of 15%. At the year end the Company was owed £243,382 by Cato Strategic Ltd. Cato Strategic Limited is a company that is 60% owned by D J N Nabarro, who is a Director of MathEngine PLC.

8. Ultimate controlling party

There is no controlling party.

Page 6