Company Registration No. 12249986 (England and Wales)
MOJO MEN LTD
Unaudited accounts
for the year ended 31 October 2024
MOJO MEN LTD
Unaudited accounts
Contents
MOJO MEN LTD
Company Information
for the year ended 31 October 2024
Directors
Angus Barge
Alexander Lamberton Gilbert
Kamran Adle
Jodie Christina Miller
Company Number
12249986 (England and Wales)
Registered Office
2nd Floor, 15 Westland Place
London
N1 7NP
ENGLAND
Accountants
Insight Business Services Limited
20-22 Wenlock Road
London
N1 7GU
MOJO MEN LTD
Statement of financial position
as at 31 October 2024
Tangible assets
42,415
30,960
Cash at bank and in hand
1,953,560
736,565
Creditors: amounts falling due within one year
(1,196,419)
(183,342)
Net current assets
1,064,504
756,592
Total assets less current liabilities
1,106,919
787,552
Provisions for liabilities
Other provisions
(147,638)
-
Net assets
959,281
787,552
Called up share capital
168
150
Share premium
6,037,307
3,622,603
Profit and loss account
(5,078,194)
(2,835,201)
Shareholders' funds
959,281
787,552
For the year ending 31 October 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 directors acknowledge their 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 of Directors and authorised for issue on 7 May 2025 and were signed on its behalf by
Alexander Lamberton Gilbert
Director
Company Registration No. 12249986
MOJO MEN LTD
Notes to the Accounts
for the year ended 31 October 2024
MOJO MEN LTD is a private company, limited by shares, registered in England and Wales, registration number 12249986. The registered office and principal place of business is 2nd Floor, 15 Westland Place, London, N1 7NP, 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.
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.
The accounts have been prepared under the provisions of FRS102 1A.
The accounts are presented in £ sterling.
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:
Fixtures & fittings
20% Reducing balance basis
Computer equipment
20% Reducing balance basis
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.
Turnover is measured at the fair value of the consideration received or receivables, excluding discounts, rebates and value-added tax, and other sales taxes.
Turnover from subscription services is recognised on an accrual basis, reflecting the stage of completion of the service provided. This approach ensures that turnover is matched with the period in which the service is rendered, in accordance with FRS 102.
In the current year, we updated our turnover recognition policy to better reflect the economic substance of our subscription model. In prior years, turnover was recognised at the point of sale. The updated approach more accurately accounts for advance payments received for subscriptions covering periods of 3 to 12 months, providing a clearer representation of the company’s financial performance.
As a result of this change, a deferred income balance has been recognised in the financial statements, reflecting subscription payments received in advance for services to be delivered in future periods.
The accounts have been prepared on a going concern basis for the year.
Expenditure on research and development is written off in the year in which it is incurred.
MOJO MEN LTD
Notes to the Accounts
for the year ended 31 October 2024
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
There is a prior year adjustment of £11,125 included within the figures, this related to 3 invoices being provided after the finalisation of last year's accounts.
The equity issuance cost has been offset against the share premium within the accounts.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2023
22,555
27,507
50,062
Additions
7,021
15,038
22,059
At 31 October 2024
29,576
42,545
72,121
At 1 November 2023
7,393
11,709
19,102
Charge for the year
4,437
6,167
10,604
At 31 October 2024
11,830
17,876
29,706
At 31 October 2024
17,746
24,669
42,415
At 31 October 2023
15,162
15,798
30,960
Amounts falling due within one year
Trade debtors
196,537
93,406
Accrued income and prepayments
106,660
109,963
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
196,321
81,478
Taxes and social security
66,275
62,294
Other creditors
15,710
22,977
MOJO MEN LTD
Notes to the Accounts
for the year ended 31 October 2024
7
Provisions for liabilities
£
Additional provisions made during the period
147,638
At 31 October 2024
147,638
A provision of £147,638 has been made in relation to the HMRC enquiry
towards R&D tax credit claims for year ending 31 Oct 2022 and 31 Oct 2023.
Allotted, called up and fully paid:
16,808,992 Ordinary Shares of £0.00001 each
168.08
149.57
Shares issued during the period:
1,851,843 Ordinary Shares of £0.00001 each
18.51
9
Average number of employees
During the year the average number of employees was 18 (2023: 15).