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REGISTERED NUMBER: 09854332 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MDOTM LTD

MDOTM LTD (REGISTERED NUMBER: 09854332)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MDOTM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr Federico Mazzorin
Mr Tommaso Migliore
Mr Federico Invernizzi





REGISTERED OFFICE: 13 Austin Friars
London
EC2N 2HE





REGISTERED NUMBER: 09854332 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

MDOTM LTD (REGISTERED NUMBER: 09854332)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes €    €    €    €   
FIXED ASSETS
Tangible assets 4 1,436 1,391

CURRENT ASSETS
Debtors 1,229,216 614,877
Cash at bank and in hand 844,539 1,221,002
2,073,755 1,835,879
CREDITORS
Amounts falling due within one year 1,638,617 1,079,520
NET CURRENT ASSETS 435,138 756,359
TOTAL ASSETS LESS CURRENT
LIABILITIES

436,574

757,750

CREDITORS
Amounts falling due after more than one year 138,963 1,806,378
NET ASSETS/(LIABILITIES) 297,611 (1,048,628 )

CAPITAL AND RESERVES
Called up share capital 5 2,828,231 474,177
Retained earnings 6 (2,530,620 ) (1,522,805 )
SHAREHOLDERS' FUNDS 297,611 (1,048,628 )

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 directors acknowledge their 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.

MDOTM LTD (REGISTERED NUMBER: 09854332)

ABRIDGED BALANCE SHEET - 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:




Mr Federico Mazzorin - Director Mr Tommaso Migliore - Director




Mr Federico Invernizzi - Director


MDOTM LTD (REGISTERED NUMBER: 09854332)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

MDOTM Ltd 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 Euro (€).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Going concern
The directors have considered the going concern basis in preparing these financial statements. They have concluded that the going concern basis is appropriate because sufficient funds will be generated from future trading and continued support from its parent company for a period of at least twelve months from the date of the approval of these financial statements to enable the company to meet its liabilities as they arise.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% straight line

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 6 ) .

MDOTM LTD (REGISTERED NUMBER: 09854332)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Totals
€   
COST
At 1 January 2023 1,887
Additions 1,012
At 31 December 2023 2,899
DEPRECIATION
At 1 January 2023 496
Charge for year 967
At 31 December 2023 1,463
NET BOOK VALUE
At 31 December 2023 1,436
At 31 December 2022 1,391

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: €    €   
491,877 Ordinary £5 2,828,231 474,177

The company allotted additional 186,078 ordinary shares of £5 each in accordance with the Special Resolution passed on 17 October 2023.

The company allotted additional 226,087 ordinary shares of £5 each in accordance with the Special Resolution passed on 28 December 2023.

6. RESERVES
Retained
earnings
€   

At 1 January 2023 (1,522,805 )
Deficit for the year (1,007,815 )
At 31 December 2023 (2,530,620 )

MDOTM LTD (REGISTERED NUMBER: 09854332)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. RELATED PARTY DISCLOSURES

During the year, the company was charged €971,439 (2022 - €916,280) for management services from its parent company, MDOTM Srl.

Additionally, during the year MDOTM Ltd issued a further 412,165 shares for €2,370,086. The shares were fully paid on issue.

At the balance sheet date, the company owed €138,963 (2022 - €1,806,378) to MDOTM Srl.

8. ULTIMATE CONTROLLING PARTY

The controlling party is MDOTM Srl, a company incorporated in Italy, by virtue of the fact that it holds all the issued share capital of the company.