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Company No: 14192201 (England and Wales)

MOMENTUS TECHNOLOGIES LIMITED

Unaudited Financial Statements
For the financial period from 23 June 2022 to 30 June 2023
Pages for filing with the registrar

MOMENTUS TECHNOLOGIES LIMITED

Unaudited Financial Statements

For the financial period from 23 June 2022 to 30 June 2023

Contents

MOMENTUS TECHNOLOGIES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2023
MOMENTUS TECHNOLOGIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2023
Note 30.06.2023
£
Fixed assets
Intangible assets 3 30,905
30,905
Current assets
Debtors 4 5,541
Cash at bank and in hand 8,469
14,010
Creditors: amounts falling due within one year 5 ( 74,466)
Net current liabilities (60,456)
Total assets less current liabilities (29,551)
Net liabilities ( 29,551)
Capital and reserves
Called-up share capital 6 100
Profit and loss account ( 29,651 )
Total shareholders' deficit ( 29,551)

For the financial period ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Momentus Technologies Limited (registered number: 14192201) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D W Kemmler
Director

06 March 2024

MOMENTUS TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 23 June 2022 to 30 June 2023
MOMENTUS TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 23 June 2022 to 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Momentus Technologies Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 20 years straight line
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
23.06.2022 to
30.06.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Intangible assets

Development costs Total
£ £
Cost
At 23 June 2022 0 0
Additions 31,385 31,385
At 30 June 2023 31,385 31,385
Accumulated amortisation
At 23 June 2022 0 0
Charge for the financial period 480 480
At 30 June 2023 480 480
Net book value
At 30 June 2023 30,905 30,905

4. Debtors

30.06.2023
£
Other debtors 5,541

5. Creditors: amounts falling due within one year

30.06.2023
£
Other creditors 74,466

6. Called-up share capital

30.06.2023
£
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 0.01 each 100

7. Related party transactions

Transactions with the entity's directors

30.06.2023
£
Other creditors 72,466

At the year end, included within other creditors are amounts of £72,466 due to the directors of the company.