REGISTERED NUMBER: 13262857 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

MOONFARE UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

Ms M Eugene

Mr S J A Boughton

Registered office:

C/o Forvis Mazars Llp The Pinnacle

160 Midsummer Boulevard

Milton Keynes

Buckinghamshire

MK9 1FF

Registered number:

13262857 (England and Wales)

Auditors:

Sumer Auditco Limited

1st Floor Waterside House

Waterside Drive

Wigan

Lancashire

WN3 5AZ

FIXED ASSETS

Tangible assets

4

26,149

18,570

CURRENT ASSETS

Debtors

5

949,728

1,394,308

Cash at bank

296,900

888,073

1,246,628

2,282,381

CREDITORS

Amounts falling due within one year

6

356,194

279,897

NET CURRENT ASSETS

890,434

2,002,484

TOTAL ASSETS LESS CURRENT LIABILITIES

916,583

2,021,054

CAPITAL AND RESERVES

Called up share capital

8

3,890,000

3,890,000

Retained earnings

(2,973,417

)

(1,868,946

)

SHAREHOLDERS' FUNDS

916,583

2,021,054

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr S J A Boughton - Director

1.	STATUTORY INFORMATION

Moonfare Uk 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

During the year the company incurred post tax losses of £1,104,471 (2023: £1,458,297). At 31 December 2024 the profit and loss reserve was in deficit by £2,973,417 (2023: £1,868,946).

The directors have prepared financial forecasts to December 2029. These are based on the assumptions of increased placement fee revenue and related expenditure with a significant increase in marketing spend to drive market penetration. A focus on cost optimisation with the implementation of cost controls and operational efficiencies alongside implementation of new revenue streams. The current forecasts predict the company will continue to make losses up to December 2025.

Moonfare GmbH have confirmed they will continue to financially support the entity going forward.

Whilst there are material uncertainties surrounding the timing of future profits, at the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover relates to placement fees received from the Moonfare Feeder Funds. These fees are recognised once the Feeder Fund has confirmed the legal subscription of capital commitment from investors.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33.3% on cost

Tangible fixed assets are recognised at cost less accumulated depreciation and accumulated impairment losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are netted off in the income statement for the period.

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 11 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

27,548

Additions

17,674

At 31 December 2024

45,222

DEPRECIATION

At 1 January 2024

8,978

Charge for year

10,095

At 31 December 2024

19,073

NET BOOK VALUE

At 31 December 2024

26,149

At 31 December 2023

18,570

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

45,779

16,567

Amounts owed by group undertakings

737,891

1,191,547

Other debtors

166,058

186,194

949,728

1,394,308

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

15,954

37,348

Amounts owed to group undertakings

132,340

123,059

Social security and other taxes

98,105

65,075

Accruals and deferred income

109,795

54,415

356,194

279,897

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

132,000

132,000

Between one and five years

363,000

495,000

495,000

627,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

2,540,000

Ordinary

£1

3,890,000

3,890,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Catherine Rogers BSc FCA (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

10.	ULTIMATE CONTROLLING PARTY

The immediate parent company of Moonfare UK Limited is Moonfare GmbH, a company incorporated in Germany, which owns 100% of the issued share capital. The ultimate holding company of the group is SP Global Partners SCS, which owns 30.73% (2023: 30.73%) of its ordinary shares, and is based in Luxembourg.