Company Registration No. 09947291 (England and Wales)
MOMENTUM TECHNOLOGIES LTD
Unaudited accounts
for the year ended 31 December 2023
MOMENTUM TECHNOLOGIES LTD
Unaudited accounts
Contents
MOMENTUM TECHNOLOGIES LTD
Company Information
for the year ended 31 December 2023
Directors
Renaud Cyrille Million
Alberto Pasqualotto
Company Number
09947291 (England and Wales)
Registered Office
PLEXAL
14 EAST BAY LANE
LONDON
E15 2GW
ENGLAND
Accountants
Arth Limited
655 Milton Keynes Business Centre
Foxhunter Drive
Milton Keynes
Buckinghamshire
MK14 6GD
MOMENTUM TECHNOLOGIES LTD
Statement of financial position
as at 31 December 2023
Cash at bank and in hand
55,017
36,504
Creditors: amounts falling due within one year
(23,620)
10,105
Net current assets
101,672
83,209
Total assets less current liabilities
108,121
83,358
Creditors: amounts falling due after more than one year
(32,574)
(43,023)
Called up share capital
1
1
Share premium
156,042
156,042
Capital contribution reserve
45
45
Profit and loss account
(80,541)
(115,753)
Shareholders' funds
75,547
40,335
For the year 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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by
Renaud Cyrille Million
Director
Company Registration No. 09947291
MOMENTUM TECHNOLOGIES LTD
Notes to the Accounts
for the year ended 31 December 2023
MOMENTUM TECHNOLOGIES LTD is a private company, limited by shares, registered in England and Wales, registration number 09947291. The registered office is PLEXAL, 14 EAST BAY LANE, LONDON, E15 2GW, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Straight Line
Computer equipment
33% Straight Line
Expenditure on research and development is written off in the year in which it is incurred.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2023
2,331
4,842
7,173
Disposals
(1,315)
-
(1,315)
At 31 December 2023
1,546
11,047
12,593
At 1 January 2023
1,315
5,710
7,025
Charge for the year
159
275
434
On disposals
(447)
(867)
(1,314)
At 31 December 2023
1,027
5,118
6,145
At 31 December 2023
519
5,929
6,448
At 31 December 2022
1,016
(868)
148
MOMENTUM TECHNOLOGIES LTD
Notes to the Accounts
for the year ended 31 December 2023
5
Investments
Subsidiary undertakings
Valuation at 1 January 2023
1
Valuation at 31 December 2023
1
Amounts falling due within one year
Trade debtors
69,675
36,000
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
20,110
1,022
Amounts owed to group undertakings and other participating interests
1
1
Taxes and social security
(28,593)
(15,086)
Loans from directors
27,032
-
8
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
32,574
43,023
9
Average number of employees
During the year the average number of employees was 2 (2022: 4).