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Registered number: 11471322
Monadd Ltd
Unaudited Financial Statements
For the Period 1 August 2022 to 31 December 2023
Athena Accountants & Business Advisors Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11471322
31 December 2023 31 July 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 241,952 105,382
Tangible Assets 5 307 -
242,259 105,382
CURRENT ASSETS
Debtors 6 1,822 6,947
Cash at bank and in hand 469 539
2,291 7,486
Creditors: Amounts Falling Due Within One Year 7 (80,704 ) (16,177 )
NET CURRENT ASSETS (LIABILITIES) (78,413 ) (8,691 )
TOTAL ASSETS LESS CURRENT LIABILITIES 163,846 96,691
Creditors: Amounts Falling Due After More Than One Year 8 (1,849 ) (2,866 )
NET ASSETS 161,997 93,825
CAPITAL AND RESERVES
Called up share capital 9 46,359 11
Share premium account 236,754 220,996
Profit and Loss Account (121,116 ) (127,182 )
SHAREHOLDERS' FUNDS 161,997 93,825
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Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Jessica Mendoza
Director
26/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Monadd Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11471322 . The registered office is 33 Foley Street, Work.Life, London, W1W 7TL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets represent the capitalised cost of internally generated software. It is amortised to the profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 20% Straight Line
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
2Average number of employees, including directors, during the period was: 2 (2022: 2)
2 2
4. Intangible Assets
Other
£
Cost
As at 1 August 2022 119,748
Additions 145,199
As at 31 December 2023 264,947
Amortisation
As at 1 August 2022 14,366
Provided during the period 8,629
As at 31 December 2023 22,995
Net Book Value
As at 31 December 2023 241,952
As at 1 August 2022 105,382
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5. Tangible Assets
Computer Equipment
£
Cost
As at 1 August 2022 -
Additions 384
As at 31 December 2023 384
Depreciation
As at 1 August 2022 -
Provided during the period 77
As at 31 December 2023 77
Net Book Value
As at 31 December 2023 307
As at 1 August 2022 -
6. Debtors
31 December 2023 31 July 2022
£ £
Due within one year
VAT 1,822 2,010
Director's loan account - 4,937
1,822 6,947
7. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 July 2022
£ £
Bank loans and overdrafts 929 929
Other taxes and social security 43,315 8,436
Net wages 36,460 6,812
80,704 16,177
Bank Loans include a Government backed Bounce Back Loan advanced to the Company from Starling Bank Limited. The loan is unsecured, interest bearing at 2.5% and repayable over 6 years. Amounts due after one year are disclosed in Note 6.

Advanced Subscription Agreements are funds received from investors prior to the conversion to equity funds. The balances are interest free, convertable to equity within 6 months and non refundable.

Director's Loans are unsecured, interest free and repayable as cash-flow permits.
8. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 31 July 2022
£ £
Bank loans 1,849 2,866
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9. Share Capital
31 December 2023 31 July 2022
£ £
Allotted, Called up and fully paid 46,359 11
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2022 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Ms Jessica Mendoza 4,937 - - - -
The above loan is unsecured, interest free and repayable on demand. The balance has been fully repaid after the year end.
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