REGISTERED NUMBER: 07992192 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Mogu Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs E Evstafyeva

REGISTERED OFFICE:

Manchester Square

18 Fitzhardinge Street

London

W1H 6EQ

REGISTERED NUMBER:

07992192 (England and Wales)

ACCOUNTANTS:

Dave & Co

Chartered Accountants

Manchester Square

18 Fitzhardinge Street

London

W1H 6EQ

FIXED ASSETS

Investments

4

15,661,309

15,025,633

CURRENT ASSETS

Cash at bank

833,030

1,487,352

NET CURRENT ASSETS

833,030

1,487,352

TOTAL ASSETS LESS CURRENT LIABILITIES

16,494,339

16,512,985

CREDITORS

Amounts falling due after more than one year

5

18,085,706

18,032,890

NET LIABILITIES

(1,591,367

)

(1,519,905

)

CAPITAL AND RESERVES

Called up share capital

6

1,200

1,200

Retained earnings

7

(1,592,567

)

(1,521,105

)

SHAREHOLDERS' FUNDS

(1,591,367

)

(1,519,905

)

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 director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2025 and were signed by:

Mrs E Evstafyeva - Director

1.	STATUTORY INFORMATION

Mogu 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.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	FIXED ASSET INVESTMENTS

31.12.24

31.12.23

€

€

Shares in group undertakings

2,922,756

2,922,756

Loans to group undertakings

12,738,553

12,102,877

15,661,309

15,025,633

Additional information is as follows:

Shares in

group

undertakings

€

COST

At 1 January 2024

and 31 December 2024

2,922,756

NET BOOK VALUE

At 31 December 2024

2,922,756

At 31 December 2023

2,922,756

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Apartment 15 Ltd

Registered office:

Nature of business: Property investment

%

Class of shares:

holding

Ordinary

100.00

31.12.24

31.12.23

€

€

Aggregate capital and reserves

(589,291

)

(416,140

)

Loss for the year

(173,151

)

(148,389

)

Villa Lena Agricola SRL

Registered office:

Nature of business: Tourism

%

Class of shares:

holding

Ordinary

60.00

31.12.24

31.12.23

€

€

Aggregate capital and reserves

20,890

34,787

Loss for the year

(513,898

)

(876,965

)

Loans to

group

undertakings

€

At 1 January 2024

12,102,877

New in year

635,676

At 31 December 2024

12,738,553

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

€

€

Other creditors

6,939,556

6,939,556

Amounts owed to parent company

1,674,534

1,621,718

Loan Tolmet

9,471,616

9,471,616

18,085,706

18,032,890

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

€

€

1,000

Share capital 1

€1.20

1,200

1,200

7.

RESERVES

Retained

earnings

€

At 1 January 2024

(1,521,105

)

Deficit for the year

(71,462

)

At 31 December 2024

(1,592,567

)

8.	RELATED PARTY DISCLOSURES

Included in Creditors due after more than one year, are monies due to the parent company Horesti Investment Holdings Ltd, a company incorporated in the British Virgin Islands, of €1,621,718 (2023 €1,621,718).

Included in Creditors due after more than one year, are monies due to Tolmet Universal Ltd, a company incorporated in the British Virgin Islands, of €9,471,616 (2023 €9,471,616) which is benefially owned by Ms O Evstafyeva and Miss T Evstafyeva. The loan is unsecured and interest free.

Included in Fixed asset investment are monies due from Apartment 15 Ltd, a company 100% owed by Mogu Ltd, of €5,943,242 (2023 €5,943,242). This loan is unsecured, repayable within two years and is free of nterest.

Included in Fixed asset investment are monies due from Villa Lena Agricola SRL, a company incorporated in Italy, of €6,580,942 (2023 €6,075,942). Of this amount €5,912,952 (2023 €5,412,952) has been treated as contribution to capital of Villa Lena Agricola SRL

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ms O Evstafyeva and Miss T Evstafyeva.