Company registration number 14477705 (England and Wales)
MOHOLD LIMITED
(INCORPORATED 11 NOVEMBER 2022)
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MOHOLD LIMITED
(INCORPORATED 11 NOVEMBER 2022)
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
MOHOLD LIMITED
(INCORPORATED 11 NOVEMBER 2022)
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
Notes
US$
Non-current assets
Investments
4
1,321,432
Current assets
Cash and cash equivalents
3,085,857
Current liabilities
Trade and other payables
7
49,930
Net current assets
3,035,927
Non-current liabilities
Trade and other payables
7
100,000
Net assets
4,257,359
Equity
Called up share capital
8
3
Share premium account
9
4,722,541
Retained earnings
(465,185)
Total equity
4,257,359

The directors of the company have elected not to include a copy of the income statement within the financial statements.

For the financial Period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

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 31 July 2024 and are signed on its behalf by:
Sjoerd Nikkelen
Enrique Hausmann
Director
Director
Company registration number 14477705 (England and Wales)
MOHOLD LIMITED
(INCORPORATED 11 NOVEMBER 2022)
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
Share capital
Share premium account
Retained earnings
Total
Notes
US$
US$
US$
US$
Balance at 11 November 2022
-
0
-
0
-
0
-
0
Period ended 31 December 2023:
Loss and total comprehensive income
-
-
(465,185)
(465,185)
Transactions with owners:
Issue of share capital
8
3
4,722,541
-
4,722,544
Balance at 31 December 2023
3
4,722,541
(465,185)
4,257,359
MOHOLD LIMITED
(INCORPORATED 11 NOVEMBER 2022)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Mohold Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, Sheraton House, Lower Road, Chorleywood, Hertfordshire, United Kingdom, WD3 5LH. The company's principal activities and nature of its operations are disclosed in the directors' report.

1.1
Accounting convention

The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted for use in the United Kingdom and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS, except as otherwise stated. There are no new mandatory or recommended standards not yet adopted that would have a significant impact on these financial statements

The financial statements are prepared in US Dollars, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest US$.

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

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

1.2
Going concern

The directors have at the time of approving the financial statements, a reasonable expectation that the truecompany has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Non-current investments

Investments in other businesses are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial assets

The company only has financial assets of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

1.6
Financial liabilities

The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Financial liabilities at fair value through profit or loss

Simple Agreements for Future Equity (SAFE) are measured at fair value net of transaction costs directly attributable to the issuance of the financial liability.

MOHOLD LIMITED
(INCORPORATED 11 NOVEMBER 2022)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Equity instruments

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

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of inventories or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting estimates and judgements

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

 

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Key sources of estimation uncertainty
Investment in subsidiary

Investments are assessed for impairment at each reporting date. The directors are of the opinion that the investment in the company's subsidiary shown in note 5 does not require any provision for impairment.

Simple Agreement for Future Equity (SAFE)

The directors consider that the cost of SAFEs carried in the accounts approximate to their fair value.

3
Employees

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

2023
Number
4
MOHOLD LIMITED
(INCORPORATED 11 NOVEMBER 2022)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 5 -
4
Investments
Current
Non-current
2023
2023
US$
US$
Investments in subsidiaries
-
0
1,321,432
Fair value of financial assets carried at amortised cost

The directors consider that the carrying amounts of financial assets carried at cost less impairment in the financial statements approximate to their fair values.

5
Subsidiary

Details of the company's subsidiariy at 31 December 2023 are as follows:

Name of undertaking
Registered office
Principal activities
Class of
% Held
shares held
Direct
MoSub Kenya Ltd
Kenya
Sale of high quality refurbished mobile phones to consumers
Preference
100.00
The aggregate capital and reserves and the result for the year of the subsidiary noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
US$
US$
MoSub Kenya Ltd
825,262
(360,339)
6
Fair value of financial liabilities

The directors consider that the carrying amounts of financial liabilities carried at amortised cost in the financial statements approximate to their fair values.

7
Trade and other payables
Current
Non-current
2023
2023
US$
US$
Trade payables
44,280
-
0
Accruals
5,600
-
0
Other payables
50
100,000
49,930
100,000

Other payables includes $100,000 received in relation to the right to certain preference shares in the capital of the company under a Simple Agreement for Future Equity (SAFE). The issue of shares is subject to various conversion events which are not expected to occur within 12 months of the end of the reporting period.

MOHOLD LIMITED
(INCORPORATED 11 NOVEMBER 2022)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 6 -
8
Share capital
2023
2023
Ordinary share capital
Number
US$
Authorised
Ordinary shares of 0.0000001p each
30,000,000
1
Issued and fully paid
Ordinary shares of 0.0000001p each
30,000,000
1
2023
2023
Preference share capital
Number
US$
Authorised
Series seed-1 shares of 0.0000001p each
10,022,284
1
Series seed-2 shares of 0.0000001p each
13,355,831
1
23,378,115
2
Issued and fully paid
Series seed-1 shares of 0.0000001p each
10,022,284
1
Series seed-2 shares of 0.0000001p each
11,560,693
1
21,582,977
2
Preference shares classified as equity
2
Total equity share capital
3
Reconciliation of movements during the Period:
Number
Issue of fully paid shares
51,582,977
9
Share premium account
2023
US$
At the beginning of the Period
-
0
Issue of new shares
4,722,541
At the end of the Period
4,722,541
MOHOLD LIMITED
(INCORPORATED 11 NOVEMBER 2022)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 7 -
10
Capital risk management

The company is not subject to any externally imposed capital requirements.

2023-12-312022-11-11falseCCH SoftwareCCH Accounts Production 2024.200Nathaniel HellerSjoerd NikkelenHugh WhalenPeter OrthEnrique Hausmannfalse144777052022-11-112023-12-31144777052023-12-3114477705core:Non-currentFinancialInstruments2023-12-3114477705core:CurrentFinancialInstruments2023-12-3114477705core:ShareCapital2023-12-3114477705core:SharePremium2023-12-3114477705core:RetainedEarningsAccumulatedLosses2023-12-3114477705core:ShareCapital2022-11-1014477705core:SharePremium2022-11-1014477705core:RetainedEarningsAccumulatedLosses2022-11-10144777052022-11-1014477705bus:Director22022-11-112023-12-3114477705bus:Director52022-11-112023-12-3114477705core:RetainedEarningsAccumulatedLosses2022-11-112023-12-3114477705core:ShareCapital2022-11-112023-12-3114477705core:SharePremium2022-11-112023-12-3114477705core:FinancialInstrumentsDesignatedFairValueThroughProfitOrLoss2022-11-112023-12-3114477705core:Subsidiary12022-11-112023-12-3114477705core:Subsidiary112022-11-112023-12-3114477705bus:PrivateLimitedCompanyLtd2022-11-112023-12-3114477705bus:AuditExempt-NoAccountantsReport2022-11-112023-12-3114477705bus:FullIFRS2022-11-112023-12-3114477705bus:Director12022-11-112023-12-3114477705bus:Director32022-11-112023-12-3114477705bus:Director42022-11-112023-12-3114477705bus:FullAccounts2022-11-112023-12-31xbrli:purexbrli:sharesiso4217:GBP