MAMA MONEY UK LIMITED

Company Registration Number:
09208336 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2024

Period of accounts

Start date: 1 March 2023

End date: 28 February 2024

MAMA MONEY UK LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

MAMA MONEY UK LIMITED

Directors' report period ended 28 February 2024

The directors present their report with the financial statements of the company for the period ended 28 February 2024

Principal activities of the company

Mama Money UK Limited provides technical switching services to payment providers located in the United Kingdom and globally.



Directors

The director shown below has held office during the whole of the period from
1 March 2023 to 28 February 2024

R Grojnowski


The directors shown below have held office during the period of
8 December 2023 to 28 February 2024

R McMartin
Y Ocampo


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
16 October 2024

And signed on behalf of the board by:
Name: R Grojnowski
Status: Director

MAMA MONEY UK LIMITED

Profit And Loss Account

for the Period Ended 28 February 2024

2024 2023


£

£
Turnover: 987,137 1,846,317
Cost of sales: ( 57,081 ) ( 85,047 )
Gross profit(or loss): 930,056 1,761,270
Administrative expenses: ( 183,995 ) ( 254,335 )
Operating profit(or loss): 746,061 1,506,935
Interest receivable and similar income: 27 0
Interest payable and similar charges: ( 90,816 ) ( 124,144 )
Profit(or loss) before tax: 655,272 1,382,791
Tax: ( 178,733 ) ( 206,764 )
Profit(or loss) for the financial year: 476,539 1,176,027

MAMA MONEY UK LIMITED

Balance sheet

As at 28 February 2024

Notes 2024 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Tangible assets: 3 1,134 0
Total fixed assets: 1,134 0
Current assets
Debtors: 4 1,639,096 3,005,120
Cash at bank and in hand: 1,308,663 1,106,597
Total current assets: 2,947,759 4,111,717
Creditors: amounts falling due within one year: 5 ( 263,080 ) ( 1,495,194 )
Net current assets (liabilities): 2,684,679 2,616,523
Total assets less current liabilities: 2,685,813 2,616,523
Creditors: amounts falling due after more than one year: 6 ( 1,180,638 ) ( 1,588,171 )
Provision for liabilities: ( 284 ) 0
Total net assets (liabilities): 1,504,891 1,028,352
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 1,503,891 1,027,352
Total Shareholders' funds: 1,504,891 1,028,352

The notes form part of these financial statements

MAMA MONEY UK LIMITED

Balance sheet statements

For the year ending 28 February 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 16 October 2024
and signed on behalf of the board by:

Name: R Grojnowski
Status: Director

The notes form part of these financial statements

MAMA MONEY UK LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue from contracts with customers comprises rendering of switching services. Switching services are technical services provided by Mama Money UK Limited, which allows a customer to connect to an aggregator via the Mama Money UK Limited hub, to facilitate transactions. Revenue is recognised to the extent that the Company has rendered services under an agreement provided the amount of revenue can be measured reliably and it is probable that economic benefits associated with the transaction will flow to the Company. Revenue is measured at the fair value of the consideration received or receivable, excluding sales taxes and discounts. Revenue for switching services rendered, is recognised upon successful transmission of funds. Should a transaction become unsuccessful, those funds will be refunded to the customer and no revenue is recognised

    Tangible fixed assets depreciation policy

    Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: Computer equipment - 3 years The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

    Other accounting policies

    Debtors Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Funds held at aggregators Funds held at aggregators comprises Mama Money UK Limited cash balances held in bank accounts in the name of the aggregator for float purposes. Prepaid balances are available on demand and postpaid balances are repayable on demand. These balances are an integral part of cash management. Creditors Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

MAMA MONEY UK LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

MAMA MONEY UK LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 0 0
Additions 1,216 1,216
Disposals
Revaluations
Transfers
At 28 February 2024 1,216 1,216
Depreciation
At 1 March 2023 0 0
Charge for year 82 82
On disposals
Other adjustments
At 28 February 2024 82 82
Net book value
At 28 February 2024 1,134 1,134
At 28 February 2023 0 0

MAMA MONEY UK LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

4. Debtors

2024 2023
£ £
Trade debtors 890,639 634,404
Other debtors 748,457 2,370,716
Total 1,639,096 3,005,120

MAMA MONEY UK LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 89,115 1,228,103
Other creditors 173,965 267,091
Total 263,080 1,495,194

MAMA MONEY UK LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 1,180,638 1,588,171
Total 1,180,638 1,588,171