Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31falsetruetrue2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22022-11-01falseventure capitalism 09933373 2022-11-01 2023-10-31 09933373 2021-11-01 2022-10-31 09933373 2023-10-31 09933373 2022-10-31 09933373 c:Director1 2022-11-01 2023-10-31 09933373 d:CurrentFinancialInstruments 2023-10-31 09933373 d:CurrentFinancialInstruments 2022-10-31 09933373 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 09933373 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 09933373 d:ShareCapital 2023-10-31 09933373 d:ShareCapital 2022-10-31 09933373 d:RetainedEarningsAccumulatedLosses 2023-10-31 09933373 d:RetainedEarningsAccumulatedLosses 2022-10-31 09933373 c:FRS102 2022-11-01 2023-10-31 09933373 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09933373 c:FullAccounts 2022-11-01 2023-10-31 09933373 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09933373 6 2022-11-01 2023-10-31 09933373 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure
Registered number: 09933373






MONECO INVESTMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










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MONECO INVESTMENTS LIMITED
REGISTERED NUMBER:09933373

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
138,612
147,700

Cash at bank and in hand
 5 
-
2

  
138,612
147,702

Creditors: amounts falling due within one year
 6 
(260,075)
(272,293)

Net current liabilities
  
 
 
(121,463)
 
 
(124,591)

Total assets less current liabilities
  
(121,463)
(124,591)

  

Net liabilities
  
(121,463)
(124,591)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(121,464)
(124,592)

  
(121,463)
(124,591)


Page 1

 
MONECO INVESTMENTS LIMITED
REGISTERED NUMBER:09933373
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Oosthuizen
Director

Date: 29 July 2024

Page 2

 
MONECO INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Moneco Investments Limited is a private company limited by shares, incorporated in England and Wales.  Its registered office is Millhouse, 32 - 38 East Street, Rochford, Essex SS4 1DB.
 
The principal activity of the company continues to be that of a venture capital investment company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis due to the continuing support of the directors.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
MONECO INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Investments in financial instruments are measured as directed in the company's financial instruments accounting policy (note 2.11).

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of
Page 4

 
MONECO INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

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

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Page 5

 
MONECO INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 -2).


4.


Debtors

2023
2022
£
£


Other debtors
138,612
147,700

138,612
147,700



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
-
2

Less: bank overdrafts
(1)
-

(1)
2



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
1
-

Other creditors
258,056
270,342

Accruals and deferred income
2,018
1,951

260,075
272,293


 
Page 6