The Market Mogul Limited
|
Registered number: |
09367922
|
Balance Sheet |
as at 31 December 2017
|
|
Notes |
|
|
2017 |
|
|
2016 |
£ |
£ |
Fixed assets |
Intangible assets |
3 |
|
|
- |
|
|
191,366 |
Tangible assets |
4 |
|
|
2,953 |
|
|
2,923 |
|
|
|
|
2,953 |
|
|
194,289 |
|
Current assets |
Debtors |
5 |
|
138,464 |
|
|
2,434 |
Cash at bank and in hand |
|
|
520,580 |
|
|
83,625 |
|
|
|
659,044 |
|
|
86,059 |
|
Creditors: amounts falling due within one year |
6 |
|
(22,087) |
|
|
(12,223) |
|
Net current assets |
|
|
|
636,957 |
|
|
73,836 |
|
Total assets less current liabilities |
|
|
|
639,910 |
|
|
268,125 |
|
Creditors: amounts falling due after more than one year |
7 |
|
|
(66) |
|
|
(66) |
|
|
|
Net assets |
|
|
|
639,844 |
|
|
268,059 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
8 |
|
|
1,665 |
|
|
1,309 |
Share premium |
9 |
|
|
1,093,949 |
|
|
364,355 |
Profit and loss account |
|
|
|
(455,770) |
|
|
(97,605) |
|
Shareholders' funds |
|
|
|
639,844 |
|
|
268,059 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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|
|
|
|
Ravsumeet Singh Sandhu |
Director |
Approved by the board on 28 September 2018
|
|
The Market Mogul Limited
|
Notes to the Accounts |
for the year ended 31 December 2017
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
|
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
|
|
|
Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
|
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative 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:
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|
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Freehold buildings |
over 50 years |
|
Leasehold land and buildings |
over the lease term |
|
Plant and machinery |
over 5 years |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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|
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
|
|
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provision has been made for the recoverability of CT under the R&D scheme for SMEs.
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|
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Holiday pay accrual |
|
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A liability is recognised to the extent of any unused holiday pay entitlement which is |
|
accrued at the Balance sheet date and carried forward to future periods. This is |
|
measured at the undiscounted salary cost of the future holiday entitlement so accrued |
|
at the balance sheet date. |
|
2 |
Employees |
2017 |
|
2016 |
Number |
Number |
|
|
Average number of persons employed by the company |
17 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 January 2017 |
191,366 |
|
Transferred to R&D |
(191,366) |
|
At 31 December 2017 |
- |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 31 December 2017 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2017 |
- |
|
At 31 December 2016 |
191,366 |
|
|
|
|
|
|
|
|
|
|
R&D costs capitalised LY have now been written off to the Profit & Loss account. |
|
4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 January 2017 |
3,919 |
|
Additions |
1,347 |
|
At 31 December 2017 |
5,266 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2017 |
996 |
|
Charge for the year |
1,317 |
|
At 31 December 2017 |
2,313 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2017 |
2,953 |
|
At 31 December 2016 |
2,923 |
|
|
5 |
Debtors |
2017 |
|
2016 |
£ |
£ |
|
|
Trade debtors |
3,930 |
|
- |
|
Other debtors |
134,534 |
|
2,434 |
|
|
|
|
|
|
138,464 |
|
2,434 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
£ |
£ |
|
|
Trade creditors |
146 |
|
- |
|
Other taxes and social security costs |
9,628 |
|
3,134 |
|
Other creditors |
12,313 |
|
9,089 |
|
|
|
|
|
|
22,087 |
|
12,223 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due after one year |
2017 |
|
2016 |
£ |
£ |
|
|
Non-equity preference shares |
66 |
|
66 |
|
|
|
|
|
|
|
|
|
|
8 |
Share capital |
Nominal |
|
2017 |
|
2017 |
value |
Number |
£ |
|
Allotted, called up and fully paid: |
|
A Ordinary shares |
£.001 each |
|
1,309 |
|
1,309 |
|
|
|
|
|
|
1,309 |
|
|
|
|
|
|
|
Nominal |
Number |
Amount |
value |
£ |
|
Shares issued during the period: |
|
A Ordinary shares |
£.001 each |
|
279 |
|
279 |
|
B Investment Shares |
£.001 each |
|
76 |
|
76 |
|
|
|
|
|
|
355 |
|
|
|
|
|
|
355 |
|
|
|
|
|
|
|
|
|
2,793,523 Ordinary A shares were issued for 0.0001p each |
|
|
755,969 Investment B Shares were issued for £0.0001p each |
|
|
Consideration for these shares were £0.2055p each |
|
9 |
Share premium |
2017 |
£ |
|
|
At 1 January 2017 |
364,354 |
|
Shares issued |
729,950 |
|
Expenses of issue |
(355) |
|
|
At 31 December 2017 |
1,093,949 |
|
|
|
|
|
|
|
|
8 |
Controlling party |
|
|
The company is controlled by the director Mr Ravsumeet Singh Sandhu.
|
|
|
9 |
Other information |
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|
The Market Mogul Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
79 Borough Road |
|
|
London |
|
SE1 1FY |