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Registered number: 09878049
M3 Holdings Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
More Group (Accounting) Limited
M3 Holdings Ltd
Contents
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
M3 Holdings Ltd
Company Information
For The Year Ended 31 December 2024
Company Information
Director Mr Mihai Ivascu
Company Number 09878049
Registered Office Wework 145 City Road
Hoxton
London
EC1V 1AZ
Accountants More Group (Accounting) Limited
1 Giltspur Street
Farringdon
London
EC1A 9DD
Page 1
Page 2
M3 Holdings Ltd
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 09878049
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 100,902,473 100,902,473
Investments 6 - 100
100,902,473 100,902,573
CURRENT ASSETS
Debtors 7 - 5,360,327
- 5,360,327
Creditors: Amounts Falling Due Within One Year 8 (10,508,104 ) (6,704,951 )
NET CURRENT ASSETS (LIABILITIES) (10,508,104 ) (1,344,624 )
TOTAL ASSETS LESS CURRENT LIABILITIES 90,394,369 99,557,949
NET ASSETS 90,394,369 99,557,949
CAPITAL AND RESERVES
Called up share capital 9 47 46
Share premium account 13,414,631 12,903,295
Revaluation reserve 10 100,730,740 100,730,740
Profit and Loss Account (23,751,049 ) (14,076,132 )
SHAREHOLDERS' FUNDS 90,394,369 99,557,949
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M3 Holdings Ltd
Balance Sheet (continued)
As At 31 December 2024
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 director acknowledges his 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 Mihai Ivascu
Director
31/12/2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
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M3 Holdings Ltd
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
M3 Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09878049 . The registered office is Wework 145 City Road, Hoxton, London, EC1V 1AZ.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Separately acquired trademarks and licences are shown at historical cost. Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a infinite useful life and are carried at fair value. 
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss.
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
2.5. 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:
Computer Equipment 33% straight line method
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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M3 Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.6. Taxation - continued
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Computer Software Trademarks, Patents and Licenses Intellectual Property Total
£ £ £ £
Cost
As at 1 January 2024 5,103 171,733 100,730,740 100,907,576
As at 31 December 2024 5,103 171,733 100,730,740 100,907,576
Amortisation
As at 1 January 2024 5,103 - - 5,103
As at 31 December 2024 5,103 - - 5,103
Net Book Value
As at 31 December 2024 - 171,733 100,730,740 100,902,473
As at 1 January 2024 - 171,733 100,730,740 100,902,473
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M3 Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 712
As at 31 December 2024 712
Depreciation
As at 1 January 2024 712
As at 31 December 2024 712
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
6. Investments
Unlisted
£
Cost
As at 1 January 2024 100
As at 31 December 2024 100
Provision
As at 1 January 2024 -
Disposals 100
As at 31 December 2024 100
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 100
7. Debtors
2024 2023
£ £
Due within one year
Amounts owed by group undertakings - 5,360,327
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,793,229 2,447,770
Director's loan account 4,714,875 4,257,181
10,508,104 6,704,951
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M3 Holdings Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
4,736 Ordinary Shares of £ 0.01 each 47 46
Shares issued during the period: £
100 Ordinary Shares of £ 0.01 each 1
10. Reserves
Revaluation Reserve
£
As at 1 January 2024 100,730,740
As at 31 December 2024 100,730,740
11. Related Party Transactions
Summary of transactions with entities with joint control or significant interest
The company was owed £0.00 (2021: £1,261,042.02) by Moneymailme Ltd. Which is a company under common control of the directors as inter company transactions. The outstanding liability of £1,284,800 was written off when Moneymailme Ltd sold all its assets in 2023. Nothing was outstanding from Moneymailme Ltd as of 31 December 2023
The company was owed £5,360,329.00 (2021: £4,103,838.95) by Modex (Gibraltar) Ltd. Which is a company under common control of the directors as inter company transactions. The loan is unsecured, interest free and repayable on demand.
The company was owed £0.00 (2021: £97,787.42) by M3 Payments Ltd. Which is a company under common control of the directors as inter company transactions. The outstanding liability of £147,187 was written off when M3 Payments Ltd sold all its assets in 2023. Nothing was outstanding from M3 Payment Ltd as of 31 December 2023.
The company was owed £0.00 (2021: £3,373.98) by Modex Technologies LLC. Which is a company under common control of the directors as inter company transactions.
12. Subsidiary undertakings
Moneymailme Ltd, which is registered in England and Wales, has its registered office address at Wework 145 City Road, Hoxton, London, United Kingdom, EC1V 1AZ2. The principal activity of Moneymailme Ltd is business and domestic software development. It is a wholly owned subsidiary of M3 Holding Limited. The assets within Moneymailme Ltd were sold during 2023, and the company ceased trading in 2023.
Modex (Gibraltar) Limited, which is registered in Gibraltar, has its registered office address at 57/63 Line Wall Road, Gibraltar. The principal activity of Modex Limited is business and domestic software development. It is a wholly owned subsidiary of M3 Holdings Limited.
M3 Payment Limited, which is registered in England and Wales, has its registered office address at Wework 145 City Road, Hoxton, London, United Kingdom, EC1V 1AZ. The principal activity of M3 Payment Limited is financial intermediation. It is a wholly owned subsidiary of M3 Holdings Limited. The assets within M3 Payments Ltd were sold during 2023, and the company ceased trading in 2023.
Modex Technologies LLC, which is registered in the State of Delaware, has its registered office address at 1209 Orange Street, Wilmington, County of New Castle, Delaware, 19801. The principal activity of Modex Technologies LLC is business and domestic software development. It is a wholly owned subsidiary of M3 Holdings Limited..
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