Mmcité UK Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—5

1. General Information

Mmcité UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10447479 . The registered office is Elsby & Co, 155 Wellingborough Road, Rushden, NN10 9TB.

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. Going Concern Disclosure

The director has considered the impact of current economic challenges in relation to her assessment of going concern and in her opinion has taken all reasonable steps to mitigate these factors. As at the point of authorising the accounts, and for the foreseeable future, the director considers the going concern assumption to still be appropriate.

The director ackowledges that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the director to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time. For this reason the financial statements have been prepared on the going concern basis.

2.3. Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:

- Goods are delivered to a customer;

- the amount of revenue can be reliably measured;

- it is probable that future economic benefits will flow to the entity;

- and specific criteria have been met for each of the company's activities.

Sales commission income is recognised as revenue when the Company satisfies its performance obligations under commission based arrangements. Revenue is measured at the amount of consideration to which the Company expects to be entitled.

2.4. 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% on cost

2.5. Leasing and Hire Purchase Contracts

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis overthe period of the lease.

2.6. Financial Instruments

Recognition and measurement

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Short term debtors and creditors are measured at the transaction price. Other financial instruments, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form.

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

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Mmcité UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Foreign Currencies

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

2.8. Taxation

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

2.9. Pensions

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 3)

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2024	6,971

As at 31 December 2024	6,971

Depreciation
As at 1 January 2024	5,837
Provided during the period	555

As at 31 December 2024	6,392

Net Book Value
As at 31 December 2024	579

As at 1 January 2024	1,134

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	69,176	239,039
Prepayments and accrued income	99,526	98,214

	168,702	337,253

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Mmcité UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	10,168	40,776
Corporation tax	135,797	87,467
Other taxes and social security	1,039	1,925
VAT	49,097	77,607
Net wages	4,335	4,598
Other creditors	-	28,613
Pension creditor	337	-
Accruals and deferred income	151,542	115,826
Director's loan account	18,240	840
Amounts owed to group undertakings	22,357	35,446

	392,912	393,098

7. Other Commitments

The total amount of financial commitments not included in the balance sheet relates to leased vehicles

	2024	2023
	£	£
Not later than one year	2,160	2,745

	2,160	2,745

8. Related Party Transactions

Summary of transactions with parent

During the period the parent company Mmcite 1 A.S. recharged services to the company of £507,937 (2023 - £698,697). At the year end the balance outstanding for those services was £15,352 (2023 - £14,334). Mmcite 1 A.S. also provided an interest free loan to the company of £21,910 which was was still outstanding at the year end (2023 - £21,910). During the year the company invoiced Mmcite 1 A.S. £49,368 (2023 - £64,500) for services rendered. There was a balance of £14,906 (2023 - £798) outstanding at the year end.

Included in other debtors is an amount of £86,754 (2023 - £86,574) accrued income which is due from the parent company which has not yet been invoiced. Included in other creditors is an amount of £56,783 (2023 - £56,783) of accrued costs from the parent company.

The total amount owed by the parent company at the year end was £7,435 (2023 amount owed to parent company - £5,658)

Mmcite BR, a fellow subsidiary company, sold goods of £35,464 to the company during 2023. There were no such transactions in 2024 and the total amount outstanding at the year end was £NIL (2023 - £NIL).

On 24 April 2024, a dividend was paid to Mmcite 1 A.S. of £156,600 (2023 - no dividend paid).

9. Parent Undertaking and Controlling Party

The company's immediate and parent undertaking is Mmcite 1 A.S. , incorporated in the Czech Republic.

The ultimate controlling party is Dkcite A.S. , incorporated in the Czech Republic.

These financial statements may be obtained from the secretary, Vilvice 519, 687 12 Bilovice, Czech Republic .

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Mmcité UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Audit Information

The auditor's report on the accounts of Mmcité UK Ltd for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Carl Elsby (Senior Statutory Auditor) for and on behalf of Elsby & Co (Sywell) Ltd , Statutory Auditor.

Elsby & Co (Sywell) Ltd

155 Wellingborough Road

Rushden

NN10 9TB

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		579		1,134

			579		1,134
CURRENT ASSETS
Debtors	5	168,702		337,253
Cash at bank and in hand		550,975		470,966

		719,677		808,219
Creditors: Amounts Falling Due Within One Year	6	(392,912 )		(393,098 )

NET CURRENT ASSETS (LIABILITIES)			326,765		415,121

TOTAL ASSETS LESS CURRENT LIABILITIES			327,344		416,255

NET ASSETS			327,344		416,255

CAPITAL AND RESERVES
Called up share capital			100		100
Profit and Loss Account			327,244		416,155

SHAREHOLDERS' FUNDS			327,344		416,255