Mentor Management Applications Ltd Filleted accounts for Companies House (small and micro)

MENTOR MANAGEMENT APPLICATIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 01862925

Mentor Management Applications Ltd

Filleted Unaudited Financial Statements

30 April 2018

Mentor Management Applications Ltd

Financial Statements

Year ended 30 April 2018

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Mentor Management Applications Ltd

Statement of Financial Position

30 April 2018

	2018		2017
Note	£	£	£

Current assets

Cash at bank and in hand	6,209		9,991

Creditors: amounts falling due within one year	5	290,741		290,741
		---------		---------
Net current liabilities			284,532	280,750
			---------	---------
Total assets less current liabilities			( 284,532)	( 280,750)
			---------	---------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	( 285,532)	( 281,750)
	---------	---------
Shareholders deficit	( 284,532)	( 280,750)
	---------	---------

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

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 April 2018 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 30 January 2019 , and are signed on behalf of the board by:

Mr S Vatidis
Director

Company registration number: 01862925

Mentor Management Applications Ltd

Notes to the Financial Statements

Year ended 30 April 2018

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

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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	-	20% straight line
Research & Development	-	Over the lesser of the life of the project or the year of sale

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

Research and development expenditure incurred on clearly defined projects whose outcome can be assessed with reasonable certainty is carried forward and amortisation is charged from that time over the lesser of the life of the project or the year of sale.

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
	£	£	£
Cost
At 1 May 2017 and 30 April 2018	200,000	400,000	600,000
	---------	---------	---------
Amortisation
At 1 May 2017 and 30 April 2018	200,000	400,000	600,000
	---------	---------	---------
Carrying amount
At 30 April 2018	–	–	–
	---------	---------	---------
At 30 April 2017	–	–	–
	---------	---------	---------

5. Creditors: amounts falling due within one year

	2018	2017
	£	£
Other creditors	290,741	290,741
	---------	---------

6. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr S Vatidis	( 290,741)	–	( 290,741)
	---------	----	---------

	2017
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr S Vatidis	( 267,466)	( 23,275)	( 290,741)
	---------	--------	---------

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 (2017: £290,741) is due to Mr S Vatidis