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REGISTERED NUMBER: 04325603 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

MONNET LIMITED

MONNET LIMITED (REGISTERED NUMBER: 04325603)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MONNET LIMITED

Company Information
for the year ended 31 December 2023







DIRECTOR: M B Matza





SECRETARY: Company Secretaries Limited





REGISTERED OFFICE: c/o Thorne Lancaster Parker
5th Floor, Palladium House
1-4 Argyll Street
London
W1F 7TA





REGISTERED NUMBER: 04325603 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

MONNET LIMITED (REGISTERED NUMBER: 04325603)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Property, plant and equipment 6 - 1
- 1

CURRENT ASSETS
Debtors 7 86 86
Cash at bank 13,165 6,394
13,251 6,480
CREDITORS
Amounts falling due within one year 8 7,716 550
NET CURRENT ASSETS 5,535 5,930
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,535

5,931

CREDITORS
Amounts falling due after more than one
year

9

10,413

41,881
NET LIABILITIES (4,878 ) (35,950 )

CAPITAL AND RESERVES
Called up share capital 7,416 7,416
Share premium 147,636 147,636
Retained earnings (159,930 ) (191,002 )
SHAREHOLDERS' FUNDS (4,878 ) (35,950 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MONNET LIMITED (REGISTERED NUMBER: 04325603)

Statement of Financial Position - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 August 2024 and were signed by:





M B Matza - Director


MONNET LIMITED (REGISTERED NUMBER: 04325603)

Notes to the Financial Statements
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Monnet Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Going concern
The directors are willing to support the company and are of the opinion that it is appropriate for the company to prepare accounts on a going concern basis.

Turnover
Turnover represents the total amount receivable, net of value added tax, for services provided in the ordinary course of business.

Goodwill
Goodwill is amortised at rates calculated to write off the asset on a straight basis over its estimated useful economic life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Property, plant and equipment are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows;

Fixtures, fittings and equipments - 33.33% on cost

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

MONNET LIMITED (REGISTERED NUMBER: 04325603)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments.

a) Basic financial assets

Trade and other debtors, and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic 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 profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

b) Basic financial liabilities and equity

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

Trade creditors, and other creditors are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled.

Other loans are initially recognised at the transaction price, including transaction costs and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments

The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


MONNET LIMITED (REGISTERED NUMBER: 04325603)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - NIL ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 28,000
AMORTISATION
At 1 January 2023
and 31 December 2023 28,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures,fittin
& equipment
£   
COST
At 1 January 2023
and 31 December 2023 60,630
DEPRECIATION
At 1 January 2023 60,629
Charge for year 1
At 31 December 2023 60,630
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 1

MONNET LIMITED (REGISTERED NUMBER: 04325603)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Recoverable corporation tax 86 86

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 7,116 -
Accruals and deferred income 600 550
7,716 550

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans 10,413 41,881

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans 10,413 41,881

Other loans include amounts owed to the company director.

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £10,413 to Marc Matza, the company director and a shareholder. The amounts owed are unsecured, interest free and have no fixed date of repayment.