Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false2023-05-01The principal activity of the company during the year was that of acting as an international money transfer agent.810truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05108236 2023-05-01 2024-04-30 05108236 2022-05-01 2023-04-30 05108236 2024-04-30 05108236 2023-04-30 05108236 c:Director1 2023-05-01 2024-04-30 05108236 d:FurnitureFittings 2023-05-01 2024-04-30 05108236 d:FurnitureFittings 2024-04-30 05108236 d:FurnitureFittings 2023-04-30 05108236 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05108236 d:ComputerEquipment 2023-05-01 2024-04-30 05108236 d:ComputerEquipment 2024-04-30 05108236 d:ComputerEquipment 2023-04-30 05108236 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05108236 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05108236 d:CurrentFinancialInstruments 2024-04-30 05108236 d:CurrentFinancialInstruments 2023-04-30 05108236 d:Non-currentFinancialInstruments 2024-04-30 05108236 d:Non-currentFinancialInstruments 2023-04-30 05108236 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 05108236 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 05108236 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 05108236 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 05108236 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-04-30 05108236 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-04-30 05108236 d:ShareCapital 2024-04-30 05108236 d:ShareCapital 2023-04-30 05108236 d:RetainedEarningsAccumulatedLosses 2024-04-30 05108236 d:RetainedEarningsAccumulatedLosses 2023-04-30 05108236 c:OrdinaryShareClass1 2023-05-01 2024-04-30 05108236 c:OrdinaryShareClass1 2024-04-30 05108236 c:FRS102 2023-05-01 2024-04-30 05108236 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05108236 c:FullAccounts 2023-05-01 2024-04-30 05108236 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05108236 d:WithinOneYear 2024-04-30 05108236 d:WithinOneYear 2023-04-30 05108236 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 05108236














MONEYTO LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  30 APRIL 2024

 
MONEYTO LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
MONEYTO LIMITED
REGISTERED NUMBER:05108236

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,096
792

  
1,096
792

Current assets
  

Debtors: amounts falling due within one year
 5 
367,837
426,012

Cash at bank and in hand
  
169,063
262,280

  
536,900
688,292

Creditors: amounts falling due within one year
 6 
(66,205)
(651,085)

Net current assets
  
 
 
470,695
 
 
37,207

Total assets less current liabilities
  
471,791
37,999

Creditors: amounts falling due after more than one year
  
(429,725)
-

  

Net assets
  
42,066
37,999


Capital and reserves
  

Called up share capital 
 9 
1,222,790
1,222,790

Profit and loss account
  
(1,180,724)
(1,184,791)

  
42,066
37,999


Page 1

 
MONEYTO LIMITED
REGISTERED NUMBER:05108236
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 January 2025.




G Selicka
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MONEYTO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Moneyto Limited is a private limited liability company incorporated in England and Wales. The registered office address and principal place of business is at 25 Cabot Square, London, E14 4QZ.
The principal activity of the company during the year was that of acting as an international money transfer agent.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises commissions receivable on international money transfer services. They are recognised in the period in which they are earned.

 
2.3

Tangible fixed assets

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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:

Fixtures and fittings
-
Over 5 years
Computer equipment
-
Over 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.

Page 3

 
MONEYTO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Basic financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand and loans to related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Cash at bank and in hand comprise cash balances and call deposits. 

 
2.5

Foreign currency translation

The company's functional and presentational currency is £ sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income.

 
2.6

Pensions

The company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 4

 
MONEYTO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
1) The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
2) Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 10).

Page 5

 
MONEYTO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost


At 1 May 2023
22,323
12,228
34,551


Additions
-
622
622



At 30 April 2024

22,323
12,850
35,173



Depreciation


At 1 May 2023
22,323
11,436
33,759


Charge for the year on owned assets
-
318
318



At 30 April 2024

22,323
11,754
34,077



Net book value



At 30 April 2024
-
1,096
1,096



At 30 April 2023
-
792
792

Page 6

 
MONEYTO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
118,559
174,888

Other debtors
226,773
226,773

Prepayments and accrued income
22,505
24,351

367,837
426,012



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
14,794
237,815

Other taxation and social security
3,604
3,581

Other creditors
36,585
401,050

Accruals and deferred income
11,222
8,639

66,205
651,085



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
429,725
-

429,725
-



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
429,725
-

429,725
-


Page 7

 
MONEYTO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



122,279 (2021 - 122,279) Ordinary shares of £10 each
1,222,790
1,222,790



10.


Pension commitments

The company contributes to a defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,519 (2023 - £2,272). Contributions totalling £454 (2023 - £162) were payable to the fund at the reporting date and are included in creditors.


11.


Commitments under operating leases

At 30 April 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
3,235
2,652

3,235
2,652

 
Page 8