Moneynetint Ltd Filleted Accounts Cover |
Company No. 05246578 | |||||||||
Moneynetint Ltd Directors Report Registrar |
The Directors present their report and the accounts for the year ended 31 December 2022. | |||||||||
Principal activities | |||||||||
Directors | |||||||||
The Directors who served at any time during the year were as follows: | |||||||||
R. Golan | |||||||||
L. Isaacs | |||||||||
Y. Trif | |||||||||
Signed on behalf of the board | |||||||||
R. Golan | |||||||||
Director | |||||||||
05 September 2023 |
Moneynetint Ltd Balance Sheet Registrar |
at | ||||||||||
Company No. | Notes | 2022 | 2021 | |||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Intangible assets | 4 | |||||||||
Tangible assets | 5 | |||||||||
Investments | 6 | |||||||||
Current assets | ||||||||||
Debtors | ||||||||||
Cash at bank and in hand | ||||||||||
Creditors: Amount falling due within one year | ( | ( | ||||||||
Net current (liabilities)/assets | ( | |||||||||
Total assets less current liabilities | ||||||||||
Net assets | ||||||||||
Capital and reserves | ||||||||||
Called up share capital | ||||||||||
Revaluation reserve | 7 | |||||||||
Profit and loss account | 7 | |||||||||
Total equity | ||||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the board on 05 September 2023 | ||||||||||
And signed on its behalf by: | ||||||||||
R. Golan | ||||||||||
Director | ||||||||||
05 September 2023 |
Moneynetint Ltd Notes to the Accounts Registrar |
for the year ended 31 December 2022 | ||||||||||||||
1 | General information | |||||||||||||
Its registered number is: 05246578 | ||||||||||||||
Its registered office is: | ||||||||||||||
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound. | ||||||||||||||
2 | Accounting policies |
Turnover | ||||||||||||||
Revenue from Foreign Exchange Transactions | ||||||||||||||
The Company generates revenue based on the difference between the exchange rate set by the Company to the business and the rate at which the Company is able to aquire the currency. This foreign exchange revenue is recorded at the time the related money transfer transaction fee revenue is recognised at the time a customer initiates a transaction through the Company's payment service operations. | ||||||||||||||
Fee Revenue | ||||||||||||||
Intangible fixed assets | ||||||||||||||
Tangible fixed assets and depreciation | ||||||||||||||
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. | ||||||||||||||
Leasehold land and buildings | ||||||||||||||
Plant and machinery | ||||||||||||||
Taxation | ||||||||||||||
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantially enacted at the reporting date. | ||||||||||||||
Judgements and key sources of 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. | ||||||||||||||
Investments | ||||||||||||||
the effective interest method, less impairment losses for bad and doubtful debts. | ||||||||||||||
Trade and other debtors | ||||||||||||||
Trade and other creditors | ||||||||||||||
Foreign currencies | ||||||||||||||
Consolidation | ||||||||||||||
The Company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the Company and its subsidiary undertaking comprise a small group. | ||||||||||||||
Financial instruments | ||||||||||||||
A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. | ||||||||||||||
Defined contribution pensions | ||||||||||||||
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. | ||||||||||||||
Provisions | ||||||||||||||
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet. | ||||||||||||||
3 | Employees | |||||||||||||
2022 | 2021 | |||||||||||||
Number | Number | |||||||||||||
The average monthly number of employees (including directors) during the year was: | ||||||||||||||
4 | Intangible fixed assets | |||||||||||||
Total | ||||||||||||||
£ | ||||||||||||||
Cost | ||||||||||||||
At 1 January 2022 | ||||||||||||||
Additions | ||||||||||||||
At 31 December 2022 | ||||||||||||||
Amortisation and impairment | ||||||||||||||
At 1 January 2022 | ||||||||||||||
Charge for the year | ||||||||||||||
At 31 December 2022 | ||||||||||||||
Net book values | ||||||||||||||
At 31 December 2022 | ||||||||||||||
At 31 December 2021 | ||||||||||||||
5 | Tangible fixed assets | |||||||||||||
Total | ||||||||||||||
£ | ||||||||||||||
Cost or revaluation | ||||||||||||||
At 1 January 2022 | ||||||||||||||
At 31 December 2022 | ||||||||||||||
Depreciation | ||||||||||||||
At 1 January 2022 | ||||||||||||||
Charge for the year | ||||||||||||||
At 31 December 2022 | ||||||||||||||
Net book values | ||||||||||||||
At 31 December 2022 | ||||||||||||||
At 31 December 2021 | ||||||||||||||
6 | Investments | |||||||||||||
Total | ||||||||||||||
£ | ||||||||||||||
Cost or valuation | ||||||||||||||
At 1 January 2022 | ||||||||||||||
Additions | ||||||||||||||
At 31 December 2022 | ||||||||||||||
Provisions/Impairment | ||||||||||||||
Net book values | ||||||||||||||
At 31 December 2022 | ||||||||||||||
At 31 December 2021 | ||||||||||||||
7 | Reserves | |||||||||||||
Revaluation Reserve | Total other reserves | |||||||||||||
£ | £ | |||||||||||||
At 1 January 2021 | ||||||||||||||
At 31 December 2021 and 1 January 2022 | ||||||||||||||
Movement on other reserve | ||||||||||||||
At 31 December 2022 | ||||||||||||||
8 | Dividends | |||||||||||||
2022 | 2022 | |||||||||||||
£ | £ | |||||||||||||
Dividends for the period: | ||||||||||||||
Dividends paid in the period | 1,940,931 | 1,940,931 | ||||||||||||
1,940,931 | ||||||||||||||
Dividends by type: | ||||||||||||||
Equity dividends | 1,940,931 | |||||||||||||
1,940,931 | 1,940,931 | |||||||||||||
9 | Advances and credits to directors | |||||||||||||
2022 | 2022 | |||||||||||||
£ | £ | |||||||||||||
At 1 January 2022 | 1,416 | |||||||||||||
Advanced in the period | 23 | |||||||||||||
Amounts repaid in the period | (475) | |||||||||||||
At 31 December 2022 | 964 | |||||||||||||
10 | Related party disclosures | |||||||||||||
The company has taken advantage of the exemption available according with Section 33 of FRS 102 "Related party disclosure" not to disclose transactions entered into between two or more members of a group that are wholly owned. | ||||||||||||||