ACCOUNTS - Final Accounts

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01No description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06169134 2022-04-01 2023-03-31 06169134 2021-04-01 2022-03-31 06169134 2023-03-31 06169134 2022-03-31 06169134 c:Director2 2022-04-01 2023-03-31 06169134 d:OfficeEquipment 2023-03-31 06169134 d:OfficeEquipment 2022-03-31 06169134 d:ComputerEquipment 2022-04-01 2023-03-31 06169134 d:CurrentFinancialInstruments 2023-03-31 06169134 d:CurrentFinancialInstruments 2022-03-31 06169134 d:Non-currentFinancialInstruments 2023-03-31 06169134 d:Non-currentFinancialInstruments 2022-03-31 06169134 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06169134 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 06169134 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06169134 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 06169134 d:UKTax 2022-04-01 2023-03-31 06169134 d:UKTax 2021-04-01 2022-03-31 06169134 d:ShareCapital 2023-03-31 06169134 d:ShareCapital 2022-03-31 06169134 d:RetainedEarningsAccumulatedLosses 2023-03-31 06169134 d:RetainedEarningsAccumulatedLosses 2022-03-31 06169134 c:FRS102 2022-04-01 2023-03-31 06169134 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06169134 c:FullAccounts 2022-04-01 2023-03-31 06169134 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 06169134

MONOCCA LTD

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

MONOCCA LTD

REGISTERED NUMBER: 06169134

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2023

		2023		2022
Note		£		£


Current assets
Stocks	6	15,000		15,000
Debtors: amounts falling due within one year	7	13,736		26,361
Cash at bank and in hand	8	2		1,069
		28,738		42,430
Creditors: amounts falling due within one year	9	(27,177)		(36,229)
Net current assets			1,561		6,201
Total assets less current liabilities			1,561		6,201
Creditors: amounts falling due after more than one year	10		(5,333)		(7,333)

Net liabilities			(3,772)		(1,132)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(3,872)	(1,232)
	(3,772)	(1,132)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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MONOCCA LTD

REGISTERED NUMBER: 06169134

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2023

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 November 2023.

B. Mannion

Director

The notes on pages 3 to 7 form part of these financial statements.

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MONOCCA LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.	General information

Monocca Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 30 Orange Street, London, WC2H 7HF.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

25% Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Debtors

Short term debtors are measured at transaction price.

2.5

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.6

Creditors

Short term creditors are measured at the transaction price.

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MONOCCA LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

2.9

Stocks

Stocks are stated at the lower of cost and net realisable value.

Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

4.	Taxation

		2023	2022
		£	£

Corporation tax
Current tax on profits for the year	-	134
	-	134

Total current tax	-	134

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MONOCCA LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

4.Taxation (continued)

	Factors affecting tax charge for the year
	The company has a tax loss for the year, therefore, no tax arises.

Factors that may affect future tax charges

The company has a tax loss of £1,671 to carry foward and offset against future profits.

5.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 April 2022	879
	At 31 March 2023	879
	Depreciation
	At 1 April 2022	879
	At 31 March 2023	879
	Net book value
	At 31 March 2023	-
	At 31 March 2022	-

6.	Stocks
		2023	2022
		£	£

Work in progress	15,000	15,000
	15,000	15,000

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MONOCCA LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Debtors

					2023	2022
					£	£


Other debtors	13,736	19,361
Accrued income	-	7,000
	13,736	26,361

8.	Cash
		2023	2022
		£	£

Cash at bank	2	1,069
	2	1,069

9.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Bounce back loan	2,000	2,000
Trade creditors	8,520	5,400
The Light House CGI Limited	899	919
Corporation tax	10,107	19,686
VAT control	4,051	6,624
Accruals	1,600	1,600
	27,177	36,229

10.	Creditors: Amounts falling due after more than one year
		2023	2022
		£	£

Bounce back loan	5,333	7,333
	5,333	7,333

The company has enjoyed a bounce back loan following the effect of Covid-19. The loan was for £10,000 and is repayable over 5 years commencing one year after 13th November 2020 at an initial rate of 2.5%.

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MONOCCA LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

11.

Related party transactions

The directors consider Polygon C.G.I. Limited and The Light House CGI Limited to be related parties.
During the year, Monocca Limited charged Polygon C.G.I. Limited £42,000 (2022 - £42,000) for the provision of consultancy services on a normal commercial basis.
As at the balance sheet date, there was a balance due to Polygon C.G.I Limited of £nil (2022 - £nil).
As at the balance sheet date, there was a balance due to The Light House C.G.I Limited of £899 (2022 - £919).

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