Masada Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

Registered number: 11276342

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investments - Cost/Fair Value	5		11,062,763		11,620,713

			11,062,763		11,620,713
CURRENT ASSETS
Debtors	6	2,210,318		2,027,563
Investments	7	14,000		14,000
Cash at bank and in hand		879,422		707,860

		3,103,740		2,749,423
Creditors: Amounts Falling Due Within One Year	8	(1,742,975 )		(2,289,243 )

NET CURRENT ASSETS (LIABILITIES)			1,360,765		460,180

TOTAL ASSETS LESS CURRENT LIABILITIES			12,423,528		12,080,893

NET ASSETS			12,423,528		12,080,893

CAPITAL AND RESERVES
Called up share capital	9		8,816,910		8,816,910
Profit and Loss Account			3,606,618		3,263,983

SHAREHOLDERS' FUNDS			12,423,528		12,080,893

For the year ending 31 December 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Ferdinando Fusaro

Director

17/09/2025

The notes on pages 2 to 4 form part of these financial statements.

1. General Information

Masada Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11276342 . The registered office is 19 The Circle, Queen Elizabeth Street, London, England, SE1 2JE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	25% SLM
Office Equipment	25% SLM

2.3. Financial Instruments

All financial assets are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in the profit or loss account, except those whose fair values cannot be measured reliably and are subsequently measured at cost less impairment.

2.4. Foreign Currencies

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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

4. Tangible Assets

	Fixtures & Fittings	Office Equipment	Total
	£	£	£
Cost
As at 1 January 2024	28,406	823	29,229

As at 31 December 2024	28,406	823	29,229

Depreciation
As at 1 January 2024	28,406	823	29,229

As at 31 December 2024	28,406	823	29,229

Net Book Value
As at 31 December 2024	-	-	-

As at 1 January 2024	-	-	-

Page 2

Page 3

Masada Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Investments - Cost/Fair Value

	Listed	Other	Total
	£	£	£
Cost
As at 1 January 2024	8,102,923	3,517,790	11,620,713
Additions	1,711,871	-	1,711,871
Disposals	(2,815,608 )	-	(2,815,608 )
Fair value adjustments	545,787	-	545,787

As at 31 December 2024	7,544,973	3,517,790	11,062,763

Provision
As at 1 January 2024	-	-	-

As at 31 December 2024	-	-	-

Net Book Value
As at 31 December 2024	7,544,973	3,517,790	11,062,763

As at 1 January 2024	8,102,923	3,517,790	11,620,713

Investment in others consists of the investments in following companies:

Investment in 3Medchain SRL - £85,291.53

Investments in Robet SRL - £155,650.77

Investments in Mashfrog Group SRL - £976,742.99

Investments in Hidra Design SL - £839,842

Investments in GMCB Properties - £934,372.49

Investments in Wallife SPA - £430,450.20

Investment in Funtech Games Ltd - £10,000

Investment in Ledger asset holding - £83,243.20

Investment in Mashfrog DMCC - £2,194.47

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	-	150,421
Mashfrog commerce Ltd Loan	-	222,953
Selfie Wealth Ltd Loan	204,003	214,003
Loan - 3Medsoftware	3,000	-
Robet Services Ltd	86,472	86,472
Robet Trust	2,718	2,718
Funtech Games Ltd	790,711	435,584
Mashfrog Commerce Ltd (For Falcon payment)	-	103,322
Other Debtors - FX Gain	(2,582 )	2,693
VAT	1,648	3,188
Directors' loan accounts	41,777	-
Loan - GMCB Properties Ltd	229,370	253,259
Loans - Digitalbliz Ltd	4,310	4,359
Loan - Watiyo Cloud SL	456,362	156,062
Loan - Mashfrog Doo	172,712	172,712
Mashfrog Group SRL Loan	32,696	32,696

	2,023,197	1,840,442

...CONTINUED

Page 3

Page 4

Masada Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Due after more than one year
Other Asset in Builg Inc (Canada)	187,121	187,121

	2,210,318	2,027,563

7. Current Asset Investments

	2024	2023
	£	£
Short term deposits	14,000	14,000

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	30,040	139,636
Masada Srl Loan	166,448	166,448
Loan Payable - Fix Loan Int. Rate 4.35%	778,782	778,692
Loan Payable - Fix Loan Int. Rate 6.12%	767,605	783,639
Creditors for investments	-	420,767
Loan - Evabeta	100	-
Directors' loan accounts	-	61

	1,742,975	2,289,243

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	8,816,910	8,816,910

10. Related Party Transactions

The company has balance of the interest free loan amounting £166,448 (2022 : £166,447 ) from Masada Srl Loan as at 31.12.24 and the same has been included in Note no. 8.

11. Controlling Party

The company's controlling party is Miss Ester Lucia Narduzzi by virtue of her ownership of 75% or more of the issued share capital in the company.

Page 4