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REGISTERED NUMBER: 12818485 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

MAYDAY HOLDINGS LIMITED

MAYDAY HOLDINGS LIMITED (REGISTERED NUMBER: 12818485)

Contents of the Financial Statements
for the year ended 31 December 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MAYDAY HOLDINGS LIMITED

Company Information
for the year ended 31 December 2024







Directors: D C Tuck
J Griffin





Registered office: 32 Ellerton Road
London
SW18 3NN





Registered number: 12818485 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69 - 73 Theobalds Road
London
WC1X 8TA

MAYDAY HOLDINGS LIMITED (REGISTERED NUMBER: 12818485)

Statement of Financial Position
31 December 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 253 290
Tangible assets 5 19,354 3,708
Investments 6 1 -
19,608 3,998

Current assets
Debtors 7 276,474 117,420
Cash at bank 598,644 1,256,689
875,118 1,374,109
Creditors
Amounts falling due within one year 8 1,046,305 964,356
Net current (liabilities)/assets (171,187 ) 409,753
Total assets less current liabilities (151,579 ) 413,751

Capital and reserves
Called up share capital 9 2 2
Share premium 777,971 777,971
Retained earnings (929,552 ) (364,222 )
Shareholders' funds (151,579 ) 413,751

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2025 and were signed on its behalf by:





D C Tuck - Director


MAYDAY HOLDINGS LIMITED (REGISTERED NUMBER: 12818485)

Notes to the Financial Statements
for the year ended 31 December 2024


1. Statutory information

MAYDAY HOLDINGS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on the going concern basis. The company incurred losses during the year, however the directors believe that the company has sufficient financial resources to be able to meet its obligations, if and when, they become due, and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. On this basis, the directors are of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiaries are stated at cost less provision for impairment.

MAYDAY HOLDINGS LIMITED (REGISTERED NUMBER: 12818485)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Research and development
Revenue expenditure on research and development is written off in the period in which it is incurred.

The company makes claims under the SME R&D tax relief scheme. Tax credits arising from claims under the SME R&D tax relief scheme are reflected 'below the line' as a reduction in the Corporation Tax charge or, if loss-making, as a Corporation Tax credit. Tax credits receivable from R&D claims are recognised in the reporting period in which the qualifying expenditure is incurred.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rental paid under operating leases are charged to the income statement over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 9 (2023 - 6 ) .

MAYDAY HOLDINGS LIMITED (REGISTERED NUMBER: 12818485)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


4. Intangible fixed assets
Patents and
licences
£
Cost
At 1 January 2024
and 31 December 2024 370
Amortisation
At 1 January 2024 80
Amortisation for year 37
At 31 December 2024 117
Net book value
At 31 December 2024 253
At 31 December 2023 290

5. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 January 2024 1,153 5,442 6,595
Additions 10,547 12,197 22,744
Disposals - (2,956 ) (2,956 )
At 31 December 2024 11,700 14,683 26,383
Depreciation
At 1 January 2024 950 1,937 2,887
Charge for year 2,852 2,775 5,627
Eliminated on disposal - (1,485 ) (1,485 )
At 31 December 2024 3,802 3,227 7,029
Net book value
At 31 December 2024 7,898 11,456 19,354
At 31 December 2023 203 3,505 3,708

6. Fixed asset investments

During the year, the company made an investment in a wholly-owned subsidiary, Mayday Australia Pty Ltd, for consideration of AU$1.

7. Debtors: amounts falling due within one year
2024 2023
£ £
Tax 224,223 96,220
VAT 6,608 1,101
Prepayments and accrued income 45,643 20,099
276,474 117,420

Included within debtors is an amount of £224,223 (2023: £96,220) relating to Research and Development tax credit claims.

MAYDAY HOLDINGS LIMITED (REGISTERED NUMBER: 12818485)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 7,698 100
Amounts owed to group undertakings 1,918 -
Social security and other taxes 21,709 12,739
Other creditors 920,001 920,000
Accruals and deferred income 94,979 31,517
1,046,305 964,356

As at the balance sheet date, an amount of £1,918 was owed to Mayday Australia Pty Ltd, a wholly-owned subsidiary. This balance is interest-free and repayable on demand.

Within other creditors, there is £920,000 (2023: £920,000) relating to an advanced subscription agreement. The agreement represents funds received in exchange for the issue of shares at a future date.

9. Called up share capital

Allotted, issued and fully paid:

Number: Class: Nominal value: 2024 £ 2023 £
1,818,182 Ordinary 0.000001 1.82 1.82
125,318 Ords 0.000001 0.13 0.13
82,141 Pre seed preferred 0.000001 0.08 0.08
2.03 2.03