The Mathematical Games Company Limited
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Registered number: |
08093051
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Balance Sheet |
as at 30 June 2022
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Notes |
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2022 |
2022 |
|
2021 |
2021 |
£ |
£ |
£ |
£ |
Current assets |
Debtors |
4 |
|
7,076 |
|
|
4,348 |
Cash at bank and in hand |
|
|
17,136 |
|
|
45,339 |
|
|
|
24,212 |
|
|
49,687 |
|
Creditors: amounts falling due within one year |
5 |
|
(75,286) |
|
|
(2,886) |
|
Net current (liabilities)/assets |
|
|
|
(51,074) |
|
|
46,801 |
|
Net (liabilities)/assets |
|
|
|
(51,074) |
|
|
46,801 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2,304 |
|
|
2,304 |
Share premium |
|
|
|
1,045,716 |
|
|
1,045,716 |
Profit and loss account |
|
|
|
(1,099,094) |
|
|
(1,001,219) |
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Shareholders' funds |
|
|
|
(51,074) |
|
|
46,801 |
|
|
|
|
|
|
|
|
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.
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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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Dr Shoreh Blank |
Director |
Approved by the board on 7 September 2022
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|
The Mathematical Games Company Limited
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Notes to the Accounts |
for the year ended 30 June 2022
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1 |
Accounting policies |
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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 (as applied to small entities by section 1A of the standard).
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Turnover |
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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 rendering of services.
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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Debtors |
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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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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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Research and Development |
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Expenditure on research and development is written off in the year it is incurred, except where the directors are satisfied that development expenditure incurred on an individual project is carried forward as permitted by SSAP 13 when its future recoveribility can be regarded as assured. The expenditure carried forward is traeted as an intangible fixed asset and amortised over its estimated economic life of 5 years so as to match the expenditure with the anticipated sales from the related project. Provision is made for any impairement. |
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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.
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate.
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|
2 |
Employees |
2022 |
|
2021 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
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|
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|
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3 |
Intangible fixed assets |
£ |
|
Intellectual Property: |
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|
Cost |
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At 1 July 2021 |
71,012 |
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At 30 June 2022 |
71,012 |
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|
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Amortisation |
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At 1 July 2021 |
71,012 |
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At 30 June 2022 |
71,012 |
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|
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Net book value |
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At 30 June 2022 |
- |
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Intellectual property assets are development costs, patents and copyrights in the USA & UK. The assets are amortised over the estimated useful life of 5 years. |
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|
4 |
Debtors |
2022 |
|
2021 |
£ |
£ |
|
|
Other debtors |
7,076 |
|
4,348 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
£ |
£ |
|
|
Bank loans and overdrafts |
8,606 |
|
104 |
|
Taxation and social security costs |
1,228 |
|
554 |
|
Other creditors |
65,452 |
|
2,228 |
|
|
|
|
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|
75,286 |
|
2,886 |
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|
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6 |
Controlling party |
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The controlling party is Dr Shoreh Blank by virtue of her ownership of 46.41% of the issued share capital of the company.
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7 |
Other information |
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The Mathematical Games Company Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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1-7 Park Road |
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Caterham |
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Surrey |
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CR3 5TB |