Company registration number 14681433 (England and Wales)
MONDU UK LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MONDU UK LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MONDU UK LTD
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
3
5,414
Current assets
Debtors
4
60,772
Cash at bank and in hand
86,905
147,677
Creditors: amounts falling due within one year
5
(654,620)
Net current liabilities
(506,943)
Net liabilities
(501,529)
Capital and reserves
Called up share capital
6
50,000
Profit and loss reserves
(551,529)
Total equity
(501,529)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 28 June 2024 and are signed on its behalf by:
P Povel
Director
Company registration number 14681433 (England and Wales)
MONDU UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Mondu UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Cannon Place, 78 Cannon Street, London, EC4N 6AF.

1.1
Reporting period

These financial statements for the period ended 31 December 2023 are the first financial statements of Mondu UK Limited. The company was incorporated on 22 February 2023 and therefore the financial statements are for a period of less than one year.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

As at the balance sheet date, the financial statements show that the company has liabilities in excess of assets of £501,529 as a result of losses made to date. The financial statements have been prepared on a going concern basis as fellow group companies have confirmed that they will continue to support the company for the foreseeable future.true

1.4
Turnover

Turnover represents amounts derived from the provision of services which fall within the company's principal activity, stated net of value added tax. Turnover from the rendering of services is recognised when services are rendered, no matter when cash is received.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
3 years straight-line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

MONDU UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified 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.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

MONDU UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
2
Employees

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

2023
Number
Total
5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 22 February 2023
-
0
Additions
6,761
At 31 December 2023
6,761
Depreciation and impairment
At 22 February 2023
-
0
Depreciation charged in the period
1,347
At 31 December 2023
1,347
Carrying amount
At 31 December 2023
5,414
4
Debtors
2023
Amounts falling due within one year:
£
Other debtors
60,772
5
Creditors: amounts falling due within one year
2023
£
Trade creditors
15,968
Taxation and social security
12,991
Other creditors
625,661
654,620
MONDU UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 5 -
6
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
50,000 ordinary shares of £1 each
50,000
50,000

On 22 February 2023, 50,000 Ordinary shares of £1 each were issued at par.

7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
£
6,300
8
Controlling party

The parent undertaking of Mondu UK Limited is Mondu GmbH and its registered office is Alexanderstraße 36, 10179 Berlin, Germany.

 

The financial statements of Mondu UK Limited are consolidated in the financial statements of Mondu GmbH.

9
Events after the reporting date

After the year end, the payment terms for loan from the parent company Mondu GmbH were extended to be repayable on 1 August 2026.

 

10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Richard Thacker
Statutory Auditor:
Beavis Morgan Audit Limited
Date of audit report:
28 June 2024
2023-12-312023-02-22false28 June 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedP PovelJ M HuffmannR De'Athfalsefalse146814332023-02-222023-12-31146814332023-12-3114681433core:OtherPropertyPlantEquipment2023-12-3114681433core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3114681433core:CurrentFinancialInstruments2023-12-3114681433core:ShareCapital2023-12-3114681433core:RetainedEarningsAccumulatedLosses2023-12-3114681433bus:Director12023-02-222023-12-3114681433core:ComputerEquipment2023-02-222023-12-3114681433core:OtherPropertyPlantEquipment2023-02-2114681433core:OtherPropertyPlantEquipment2023-02-222023-12-3114681433core:WithinOneYear2023-12-3114681433bus:PrivateLimitedCompanyLtd2023-02-222023-12-3114681433bus:SmallCompaniesRegimeForAccounts2023-02-222023-12-3114681433bus:FRS1022023-02-222023-12-3114681433bus:Audited2023-02-222023-12-3114681433bus:Director22023-02-222023-12-3114681433bus:Director32023-02-222023-12-3114681433bus:FullAccounts2023-02-222023-12-31xbrli:purexbrli:sharesiso4217:GBP