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Registration number: 14523755

Aloma.io Ltd

Filleted Unaudited Financial Statements

for the Period from 5 December 2022 to 31 December 2023

 

Aloma.io Ltd
(Registration number: 14523755)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Aloma.io Ltd
(Registration number: 14523755)

Company Information

Directors

Mr P J Williamson

Mr E Manso-Salinas

Registered office

Fifth Floor
Building 7
566 Chiswick High Road
London
W4 5YG

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Aloma.io Ltd
(Registration number: 14523755)

Balance Sheet as at 31 December 2023

Note

2023
£

Current assets

 

Debtors

4

1,139

Cash at bank and in hand

 

235

 

1,374

Creditors: Amounts falling due within one year

5

(750)

Total assets less current liabilities

 

624

Creditors: Amounts falling due after more than one year

5

(36,403)

Net liabilities

 

(35,779)

Capital and reserves

 

Called up share capital

1

Profit and loss account

(35,780)

Total equity

 

(35,779)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 September 2024 and signed on its behalf by:
 

.........................................
Mr P J Williamson
Director

 

Aloma.io Ltd
(Registration number: 14523755)

Notes to the Unaudited Financial Statements for the Period from 5 December 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fifth Floor
Building 7
566 Chiswick High Road
London
W4 5YG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have acknowledged the negative reserves at the balance sheet date. Post year-end significant additional investment has been received which will enable the company to meet its obligations as they arise. On that basis the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Aloma.io Ltd
(Registration number: 14523755)

Notes to the Unaudited Financial Statements for the Period from 5 December 2022 to 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Aloma.io Ltd
(Registration number: 14523755)

Notes to the Unaudited Financial Statements for the Period from 5 December 2022 to 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Debtors

2023
£

Trade debtors

520

Other debtors

22

Prepayments and accrued income

597

Total current trade and other debtors

1,139

5

Creditors

2023
£

Due within one year

Accrued expenses

750

Note

2023
£

Due after one year

 

Loans and borrowings

36,403

6

Non adjusting events after the financial period

Post year end the company allotted 89,996 Ordinary A shares for cash consideration totalling £432,762.

As of the 21 August 2024, the company's total issued share capital was 1,000,000 Ordinary £0.000001 shares and 89,996 Ordinary A Shares