Registration number:
Monet Acquisition Company Limited
for the Year Ended 31 December 2023
Monet Acquisition Company Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Monet Acquisition Company Limited
Company Information
Director |
Mr L Levie |
Registered office |
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Registered number |
08615588 |
Auditors |
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Monet Acquisition Company Limited
(Registration number: 08615588)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Current assets |
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Debtors |
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Other financial assets |
28,683,408 |
28,367,338 |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
118 |
118 |
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Retained earnings |
28,075,026 |
27,644,691 |
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Shareholders' funds |
28,075,144 |
27,644,809 |
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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Monet Acquisition Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
The principal place of business is:
1511 Avenida Juan Ponce de Leon
#1031
San Juan, Puerto Rico
00909
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.
The financial statements are presented in Euros and are rounded to the nearest Euro.
Audit report
Foreign currency transactions and balances
Monet Acquisition Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investments
The current asset investments (corporate bonds/notes) are valued at the fair value through profit and loss.
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 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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Taxation |
Tax charged/(credited) in the profit and loss account
2023 |
2022 |
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Current taxation |
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UK corporation tax |
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Monet Acquisition Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
Total |
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Current financial assets |
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Cost or valuation |
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At 1 January 2023 |
28,367,338 |
28,367,338 |
Fair value adjustments |
177,290 |
177,290 |
Additions |
9,487,359 |
9,487,359 |
Disposals |
(8,838,760) |
(8,838,760) |
Foreign exchange rate movement |
(509,819) |
(509,819) |
At 31 December 2023 |
28,683,408 |
28,683,408 |
Carrying amount |
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At 31 December 2023 |
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28,683,408 |
The total purchase price of bonds held as at year end was €39,069,361.
Debtors |
Current |
2023 |
2022 |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Amounts due to related parties |
23,448 |
23,448 |
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Monet Acquisition Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
€ |
No. |
€ |
|
|
|
118 |
|
118 |
Related party transactions |
Group undertakings
Transformer Acquisition Company Ltd
Under common control
At the balance sheet date, the company owed €767,915 (2022: €767,915) to Transformer Acquisition Company Ltd.
Related parties
United Manufacturing and Trading Company Limited
A company in which Mr L M Levie is a director.
At the balance sheet date, the company owed €14,304 (2022: €14,304) to United Manufacturing and Trading Company Limited.
Alliance Manufacturing and Trading Company Limited
A company in which Mr L M Levie is a director.
At the balance sheet date, the company owed €9,145 (2022: €9,145) to Alliance Manufacturing and Trading Company Limited.
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is