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COMPANY REGISTRATION NUMBER: 15457118
ModelML Ltd
Filleted Unaudited Financial Statements
31 December 2024
ModelML Ltd
Financial Statements
Period from 31 January 2024 to 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
ModelML Ltd
Statement of Financial Position
31 December 2024
31 Dec 24
Note
£
Current assets
Debtors
5
22,451
Cash at bank and in hand
79,926
---------
102,377
Creditors: amounts falling due within one year
6
983,599
---------
Net current liabilities
881,222
---------
Total assets less current liabilities
( 881,222)
---------
Capital and reserves
Called up share capital
1
Profit and loss account
( 881,223)
---------
Shareholders deficit
( 881,222)
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 April 2025 , and are signed on behalf of the board by:
A S Englander
Director
Company registration number: 15457118
ModelML Ltd
Notes to the Financial Statements
Period from 31 January 2024 to 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Westland Place, London, N1 7LP, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the investors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Debtors
31 Dec 24
£
Other debtors
22,451
--------
6. Creditors: amounts falling due within one year
31 Dec 24
£
Trade creditors
( 1,272)
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,023,060
Social security and other taxes
8,878
Other creditors
( 47,067)
------------
983,599
------------
7. Controlling party
ModelML Ltd is a 100% subsidiary of ModelML Inc . The registered address of the ultimate parent company is 800 North State Street, Suite 304, Kent Country, Dover, United States, DE 19901 .