1 June 2023 false No description of principal activity Taxfiler 2024.6 13218256business:PrivateLimitedCompanyLtd2023-06-012024-05-31 132182562023-05-31 132182562023-06-012024-05-31 13218256business:AuditExemptWithAccountantsReport2023-06-012024-05-31 13218256business:FilletedAccounts2023-06-012024-05-31 132182562024-05-31 13218256business:Director12023-06-012024-05-31 13218256business:RegisteredOffice2023-06-012024-05-31 132182562023-05-31 13218256core:WithinOneYear2024-05-31 13218256core:WithinOneYear2023-05-31 13218256core:ShareCapitalcore:PreviouslyStatedAmount2024-05-31 13218256core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 13218256core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-05-31 13218256core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 13218256core:PreviouslyStatedAmount2024-05-31 13218256core:PreviouslyStatedAmount2023-05-31 13218256business:SmallEntities2023-06-012024-05-31 13218256countries:EnglandWales2023-06-012024-05-31 13218256core:ComputerEquipment2023-06-012024-05-31 13218256core:PlantMachinery2023-05-31 13218256core:ComputerEquipment2023-05-31 13218256core:PlantMachinery2023-06-012024-05-31 13218256core:PlantMachinery2024-05-31 13218256core:ComputerEquipment2024-05-31 13218256core:WithinOneYear2023-06-012024-05-31 13218256business:OrdinaryShareClass12023-06-012024-05-31 13218256business:OrdinaryShareClass12022-06-012023-05-31 132182562022-06-012023-05-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 13218256 (England and Wales)
Momentum 360 Limited Unaudited accounts for the year ended 31 May 2024
Momentum 360 Limited Unaudited accounts Contents
Page
- 2 -
Momentum 360 Limited Company Information for the year ended 31 May 2024
Director
A C Shephard
Company Number
13218256 (England and Wales)
Registered Office
124 City Road London EC1V 2NX ENGLAND
Accountants
K-VS Solutions 6 Whitehall Close Borehamwood WD6 1GL
- 3 -
Momentum 360 Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
710 
174 
Current assets
Debtors
5,468 
5,172 
Cash at bank and in hand
28,423 
13,128 
33,891 
18,300 
Creditors: amounts falling due within one year
(7,763)
(5,117)
Net current assets
26,128 
13,183 
Net assets
26,838 
13,357 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
26,738 
13,257 
Shareholders' funds
26,838 
13,357 
For the year ending 31 May 2024 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 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 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 and authorised for issue on 15 October 2024 and were signed on its behalf by
A C Shephard Director Company Registration No. 13218256
- 4 -
Momentum 360 Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Momentum 360 Limited is a private company, limited by shares, registered in England and Wales, registration number 13218256. The registered office is 124 City Road, London, EC1V 2NX, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Computer equipment
Straight Line over 3 years
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Cash Flow Exemption
The company has taken advantage of the exemption from the requirement to prepare a cash flow statement by virtue of it being a small entity.
- 5 -
Momentum 360 Limited Notes to the Accounts for the year ended 31 May 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted and only included in the accounts when considered material.
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
- 
524 
524 
Additions
358 
608 
966 
At 31 May 2024
358 
1,132 
1,490 
Depreciation
At 1 June 2023
- 
350 
350 
Charge for the year
70 
360 
430 
At 31 May 2024
70 
710 
780 
Net book value
At 31 May 2024
288 
422 
710 
At 31 May 2023
- 
174 
174 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
763 
Trade debtors
5,133 
4,409 
Accrued income and prepayments
201 
- 
Other debtors
134 
- 
5,468 
5,172 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
767 
- 
Trade creditors
1,034 
- 
Taxes and social security
3,883 
3,295 
Other creditors
89 
3 
Loans from directors
529 
1,319 
Accruals
1,461 
500 
7,763 
5,117 
The director's loan is interest free and repayable on demand. Trade creditors include £45 (2023: £Nil) owed to MTL Support Ltd, a company under common control.
- 6 -
Momentum 360 Limited Notes to the Accounts for the year ended 31 May 2024
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 3 (2023: 2).
- 7 -