1.
General Information
Monetus Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
09859588
. The registered office is 86-90 Paul Street, London, EC2A 4NE.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
4.
Debtors
4.
Debtors - continued
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Peer to peer loans |
|
|
|
Debtors- loan platform current assets are loans to businesses via peer to peer lending. The loans made provide payments of capital and interest on the principal outstanding. The loans are held to collect contractual cash flows and to sell. Risks are managed by actively reviewing and trading the portfolio of loans across all platforms. The assets have been valued at Fair Value with all gains and losses recognised through Other Comprehensive Income under IFRS9 paragraph 4.1.2A (as permitted under Paragraph 1AC.26 and Section 11 of FRS102).
An allowance for expected credit losses has been made in accordance with section 5.5 of IFRS9. The allowance for expected credit losses over the 12 months from the accounting date has been based on an analysis of the loans made on each platform with allowance for expected losses being estimated based on the expected loss rates.
...CONTINUED
Monetus Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
|
Platform
|
Lent
|
Expected Credit Loss
|
(ECL) as a %
|
Fair Value
|
|
(ECL)
|
of Loan
|
|||
|
£
|
£
|
%
|
£
|
|
|
B
|
11,334
|
7,020
|
70
|
3,009
|
|
F
|
167,199
|
117,039
|
70
|
50,160
|
|
G
|
179,962
|
125,973
|
70
|
53,989
|
|
H
|
69,696
|
52,272
|
75
|
17,424
|
|
____________
|
___________
|
___________
|
___________
|
|
|
Total
|
428,191
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
302,304
|
71
|
124,582
|
5.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Accruals and deferred income |
|
|
|
| Directors' loan accounts |
|
|
|
| Amounts owed to other participating interests |
|
|
|
|
|
|
||
Included in amounts owed to other participating interests is £66,276 (2024- £100,276) owed to Panda Brands Ltd, a company incorporated and registered in the UK in which Mr A. Bunch and Mrs M. Fonseca are directors and shareholders.
7.
Financial Instruments
7.
Financial Instruments - continued
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
...CONTINUED
Monetus Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
8.
Cash and cash equivalents
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Cash at bank and in hand
|
1,936
|
19,858
|
Included in the cash at bank is £1,306 held in the platform as cash.