Mobileum UK Holdings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 11620644 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

MOBILEUM UK HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Riputapan Singh

SECRETARY:

Oakwood Corporate Secretary Ltd

REGISTERED OFFICE:

3rd Floor 1 Ashley Road

Altrincham

United Kingdom

Cheshire

WA14 2DT

REGISTERED NUMBER:

11620644 (England and Wales)

AUDITORS:

Richardson Swift Audit Ltd

Chartered Accountants

Statutory Auditor

11 Laura Place

Bath

BA2 4BL

FIXED ASSETS

Investments

4

15,605,581

CREDITORS

Amounts falling due within one year

5

19,185,181

18,400,718

NET CURRENT LIABILITIES

(19,185,181

)

(18,400,718

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,579,600

)

(2,795,137

)

CAPITAL AND RESERVES

Called up share capital

6

1,530,560

Retained earnings

(5,110,160

)

(4,325,697

)

SHAREHOLDERS' FUNDS

(3,579,600

)

(2,795,137

)

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 30 September 2025 and were signed by:

Riputapan Singh - Director

1.	STATUTORY INFORMATION

Mobileum UK 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.

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.

As at the balance sheet date the company had retained losses, and a loss was made in the period. The company is dependent on group support and the parent company, Mobileum Inc, has confirmed their support. On this basis the directors are satisfied that the company remains a going concern and the financial statements have been prepared on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Mobileum UK Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an asset's carrying amount and the best estimate, which is an approximation, of

the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Hire purchase and lease commitments

Rentals paid under operating leases are charged to the profit and loss accounts on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

15,605,581

NET BOOK VALUE

At 31 December 2024

15,605,581

At 31 December 2023

15,605,581

The fixed asset investment represents 100% of the share capital of Mobileum UK Limited, a company incorporated in England & Wales.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed to group undertakings

14,987,472

14,203,009

Other creditors

4,197,709

19,185,181

18,400,718

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

1,530,560

Ordinary

£1

1,530,560

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

The Report of the Auditors was unqualified.

Catherine Edwards Bsc FCA (Senior Statutory Auditor)

for and on behalf of Richardson Swift Audit Ltd

8.	RELATED PARTY DISCLOSURES

At the year end the company owed the parent company Mobileum Inc. £15,331,951 (2023: £5,540,071). Interest is accruing at 9% per annum, with £4,197,709 accrued in the accounts.

At the year end the company was owed £344,479 (2023: £339,211) by the subsidiary, Mobileum UK Limited.

9.	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

No significant judgements or key assumptions have had to be made by the directors in preparing

these financial statements.