Monet Acquisition Company Limited 08615588 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Other business support service activities not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true true 08615588 2023-01-01 2023-12-31 08615588 2023-12-31 08615588 bus:OrdinaryShareClass1 2023-12-31 08615588 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:CurrentFinancialInstruments 2023-12-31 08615588 core:CurrentFinancialInstruments 2023-12-31 08615588 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08615588 bus:SmallEntities 2023-01-01 2023-12-31 08615588 bus:Audited 2023-01-01 2023-12-31 08615588 bus:FilletedAccounts 2023-01-01 2023-12-31 08615588 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08615588 bus:RegisteredOffice 2023-01-01 2023-12-31 08615588 bus:Director1 2023-01-01 2023-12-31 08615588 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08615588 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08615588 core:UKTax 2023-01-01 2023-12-31 08615588 1 2023-01-01 2023-12-31 08615588 countries:EnglandWales 2023-01-01 2023-12-31 08615588 2022-01-01 2022-12-31 08615588 2022-12-31 08615588 bus:OrdinaryShareClass1 2022-12-31 08615588 core:CurrentFinancialInstruments 2022-12-31 08615588 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08615588 core:UKTax 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08615588

Monet Acquisition Company Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Monet Acquisition Company Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Monet Acquisition Company Limited

Company Information

Director

Mr L Levie

Registered office

9A Burroughs Gardens
London
NW4 4AU

Registered number

08615588

Auditors

Ripe LLP
Chartered Accountants and Registered Auditors
9A Burroughs Gardens
London
NW4 4AU

 

Monet Acquisition Company Limited

(Registration number: 08615588)
Balance Sheet as at 31 December 2023

Note

2023

2022

Current assets

 

Debtors

6

277,658

248,538

Other financial assets

5

28,683,408

28,367,338

Cash at bank and in hand

 

463,571

206,336

 

29,424,637

28,822,212

Creditors: Amounts falling due within one year

7

(1,349,493)

(1,177,403)

Net assets

 

28,075,144

27,644,809

Capital and reserves

 

Called up share capital

8

118

118

Retained earnings

28,075,026

27,644,691

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 director on 8 November 2024
 

.........................................
Mr L Levie
Director

 

Monet Acquisition Company Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9A Burroughs Gardens
London
NW4 4AU
England

The principal place of business is:
1511 Avenida Juan Ponce de Leon
#1031
San Juan, Puerto Rico
00909

2

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

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 8 November 2024 was Robert Glazer FCA, who signed for and on behalf of Ripe LLP.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

 

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Taxation

Tax charged/(credited) in the profit and loss account

2023

2022

Current taxation

UK corporation tax

151,649

375,435

 

Monet Acquisition Company Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss

Total

Current financial assets

Cost or valuation

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

At 31 December 2023

28,683,408

28,683,408

The total purchase price of bonds held as at year end was €39,069,361.

6

Debtors

Current

2023

2022

Other debtors

277,658

248,538

 

277,658

248,538

7

Creditors

Creditors: amounts falling due within one year

Note

2023

2022

Amounts owed to group undertakings

9

767,915

767,915

Taxation and social security

 

541,783

375,435

Other creditors

 

16,347

10,605

Amounts due to related parties

 

23,448

23,448

 

1,349,493

1,177,403

 

Monet Acquisition Company Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

No.

Ordinary shares of £1 each

100

118

100

118

       

9

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.

10

Parent and ultimate parent undertaking

The company's immediate parent is American Industrial Acquisition Corporation, which is incorporated in the USA.

 The ultimate controlling party is Mr L M Levie.