Moneynetint Ltd Filleted Accounts Cover
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Company No. 05246578
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Moneynetint Ltd Directors Report Registrar
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The Directors present their report and the accounts for the period ended 31 December 2021.
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Principal activities
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foreign exchange delivery and other money transactions |
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Directors
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The Directors who served at any time during the period were as follows:
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R. Golan
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L. Isaacs
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Y. Trif
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Statement of Directors' Responsibilities
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The directors are responsible for preparing the accounts in accordance with applicable law and regulations.
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied they give a true and fair view of the state of affairs of the company and the profit or loss of the company. for that period. In preparing the financial statements the directors are required to
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- select suitable accounting policies and apply them consistently;
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- make judgements and accounting estimates that are reasonable and prudent;
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- prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue in business.
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Small Company Exception
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Signed on behalf of the board
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R. Golan
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Director
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29 August 2022
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Moneynetint Ltd Balance Sheet Registrar
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at
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Company No.
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Notes
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31/12/2021
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31/10/2021
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£
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£
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Fixed assets
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Intangible assets
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4
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Tangible assets
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5
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Investments
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6
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Current assets
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Debtors
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Cash at bank and in hand
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Creditors: Amount falling due within one year
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(
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(
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Net current assets
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Total assets less current liabilities
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Net assets
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Capital and reserves
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Called up share capital
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Revaluation reserve
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7
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Profit and loss account
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7
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Total equity
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As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
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Approved by the board on 29 August 2022
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And signed on its behalf by:
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R. Golan
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Director
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29 August 2022
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Moneynetint Ltd Notes to the Accounts Registrar
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for the period ended 31 December 2021
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1
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General information
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Its registered number is: 05246578
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Its registered office is:
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2
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Accounting policies
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Turnover
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Revenue from Foreign Exchange Transactions
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The Company generates revenue based on the difference between the exchange rate set by the Company to the business and the rate at which the Company is able to aquire the currency. This foreign exchange revenue is recorded at the time the related money transfer transaction fee revenue is recognised at the time a customer initiates a transaction through the Company's payment service operations.
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Fee Revenue
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Intangible fixed assets
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Tangible fixed assets and depreciation
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At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. |
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Leasehold land and buildings
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Furniture, fittings and equipment
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Taxation
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Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantially enacted at the reporting date.
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Investments
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Trade and other debtors
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Trade and other creditors
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Provisions
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Provisions are made when an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
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Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
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When payments are eventually made, they are charged to the provision in the balance sheet.
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Foreign currencies
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Defined contribution pensions
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The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
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Judgements and key sources of uncertainty
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Financial instruments
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A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
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Consolidation
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3
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Employees
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31/12/2021
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31/10/2021
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Number
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Number
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The average monthly number of employees (including directors) during the period:
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4
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Intangible fixed assets
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Total
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£
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Cost
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At 1 November 2021
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Additions
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At 31 December 2021
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Amortisation and impairment
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At 1 November 2021
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Charge for the year
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At 31 December 2021
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Net book values
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At 31 December 2021
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At 31 October 2021
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5
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Tangible fixed assets
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Total
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£
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Cost or revaluation
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At 1 November 2021
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At 31 December 2021
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Depreciation
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At 1 November 2021
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At 31 December 2021
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Net book values
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At 31 December 2021
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At 31 October 2021
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6
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Investments
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Total
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£
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Cost or valuation
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At 1 November 2021
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Revaluation
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3,258,282
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At 31 December 2021
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Provisions/Impairment
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Net book values
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At 31 December 2021
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At 31 October 2021
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7
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Reserves
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Revaluation Reserve
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Total other reserves
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£
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£
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Movement on revaluation reserve
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At 31 December 2021
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8
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Related party disclosures exemption
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The company has taken advantage of the exemption available according with Section 33 of FRS 102 "Related party disclosure" not to disclose transactions entered into between two or more members of a group that are wholly owned.
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9
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Advances and credits to directors
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Included within Other debtors are the following loans to directors:
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Director
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Description
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At 1 November 2021
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Advanced
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Repaid
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At 31 December 2021
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£
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£
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£
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£
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10
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Related party disclosures
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31/12/2021
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Transactions with related parties
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£
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Name of related party
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Description of relationship between the parties
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Shareholder of the company
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Amount due from/(to) the related party
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(
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