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Registration number: 10378470

Momo Global Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2018

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Chartered Accountants

 

Momo Global Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 7

 

Momo Global Ltd

Company Information

Director

Mrs Clare Wyllys Pinnock

Registered office

Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

Accountants

Edwards & Keeping
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Momo Global Ltd
for the Year Ended 30 September 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Momo Global Ltd for the year ended 30 September 2018 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Momo Global Ltd, as a body, in accordance with the terms of our engagement letter dated 24 October 2016. Our work has been undertaken solely to prepare for your approval the accounts of Momo Global Ltd and state those matters that we have agreed to state to the Board of Directors of Momo Global Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Momo Global Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Momo Global Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Momo Global Ltd. You consider that Momo Global Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Momo Global Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards & Keeping
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

24 October 2018

 

Momo Global Ltd

(Registration number: 10378470)
Balance Sheet as at 30 September 2018

Note

30 September 2018
 

30 September 2017
 

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

911

 

1,139

Current assets

   

 

Debtors

5

-

 

5,160

 

Cash at bank and in hand

 

62,691

 

53,937

 

 

62,691

 

59,097

 

Creditors: Amounts falling due within one year

6

(20,989)

 

(18,079)

 

Net current assets

   

41,702

 

41,018

Net assets

   

42,613

 

42,157

Capital and reserves

   

 

Called up share capital

1

 

1

 

Profit and loss account

42,612

 

42,156

 

Total equity

   

42,613

 

42,157

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the director on 24 October 2018
 


Mrs Clare Wyllys Pinnock
Director

   
 

Momo Global Ltd

Notes to the Financial Statements
for the Year Ended 30 September 2018

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

3 years straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Momo Global Ltd

Notes to the Financial Statements
for the Year Ended 30 September 2018

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period was 1.

 

Momo Global Ltd

Notes to the Financial Statements
for the Year Ended 30 September 2018

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 October 2017

1,709

1,709

Additions

512

512

At 30 September 2018

2,221

2,221

Depreciation

At 1 October 2017

570

570

Charge for the year

740

740

At 30 September 2018

1,310

1,310

Carrying amount

At 30 September 2018

911

911

At 30 September 2017

1,139

1,139

5

Debtors

2018
£

2017
£

Trade debtors

-

4,631

Other debtors

-

529

-

5,160

6

Creditors

Creditors: amounts falling due within one year

Note

2018
£

2017
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

1,266

1,060

Taxation and social security

 

6,179

-

Other creditors

 

13,544

17,019

 

20,989

18,079

7

Share capital

8

Dividends

Interim dividends paid

   

2018
£

 

2017
£

Interim dividend of £55,777.25 (2017 - £27,925.00) per each Ordinary share

 

55,777

 

27,925

         
 

Momo Global Ltd

Notes to the Financial Statements
for the Year Ended 30 September 2018

9

Related party transactions

Directors' remuneration

The director's remuneration for the year was as follows:

2018
£

2017
£

Remuneration

8,292

8,106