MOLYVOS LIMITED Company accounts

0 false false false false false false false false false false true false false false false true false 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:EUR 10925802 2023-01-01 2023-12-31 10925802 2023-12-31 10925802 2022-12-31 10925802 2022-01-01 2022-12-31 10925802 2022-12-31 10925802 2021-12-31 10925802 bus:Director1 2023-01-01 2023-12-31 10925802 bus:Director2 2023-01-01 2023-12-31 10925802 bus:Director3 2023-01-01 2023-12-31 10925802 core:WithinOneYear 2023-12-31 10925802 core:WithinOneYear 2022-12-31 10925802 core:OtherReservesSubtotal 2022-01-01 2022-12-31 10925802 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 10925802 core:OtherReservesSubtotal 2023-01-01 2023-12-31 10925802 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 10925802 core:OtherReservesSubtotal 2023-12-31 10925802 core:OtherReservesSubtotal 2022-12-31 10925802 core:RetainedEarningsAccumulatedLosses 2023-12-31 10925802 core:RetainedEarningsAccumulatedLosses 2022-12-31 10925802 core:OtherReservesSubtotal 2021-12-31 10925802 core:RetainedEarningsAccumulatedLosses 2021-12-31 10925802 bus:SmallEntities 2023-01-01 2023-12-31 10925802 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10925802 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10925802 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 10925802 bus:FullAccounts 2023-01-01 2023-12-31

COMPANY REGISTRATION NUMBER: 10925802

MOLYVOS LIMITED

Company Limited by Guarantee

Unaudited Financial Statements

31 December 2023

MOLYVOS LIMITED

Company Limited by Guarantee

Financial Statements

Year ended 31 December 2023

Contents	Page

Directors' report	1

Income statement	2

Statement of financial position	3

Statement of changes in equity	5

Notes to the financial statements	6

MOLYVOS LIMITED

Company Limited by Guarantee

Directors' Report

Year ended 31 December 2023

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023 .

Principal activities

The company did not trade during the year.

Directors

The directors who served the company during the year were as follows:

Evlampia Daskali
Panagiotis Tryfon
Sophia-Louise Ciccone

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 17 April 2024 and signed on behalf of the board by:

Evlampia Daskali	Panagiotis Tryfon
Director	Director

Sophia-Louise Ciccone
Director

MOLYVOS LIMITED

Company Limited by Guarantee

Income Statement

Year ended 31 December 2023

	2023	2022
Note	€	€

Administrative expenses	( 16,376)	( 14,835)
	--------	--------
Operating loss	( 16,376)	( 14,835)

Other interest receivable and similar income	371	18
	--------	--------
Loss before taxation	( 16,005)	( 14,817)

Tax on loss	–	–
	--------	--------
Loss for the financial year	( 16,005)	( 14,817)
	--------	--------

All the activities of the company are from continuing operations.

MOLYVOS LIMITED

Company Limited by Guarantee

Statement of Financial Position

31 December 2023

	2023	2022
Note	€	€

Current assets

Debtors	5	1,907	1,907
Cash at bank and in hand		53,494	42,152
		--------	--------
		55,401	44,059

Creditors: amounts falling due within one year	6	3,600	7,500
		--------	--------
Net current assets		51,801	36,559
		--------	--------
Total assets less current liabilities		51,801	36,559
		--------	--------
Net assets		51,801	36,559
		--------	--------

Capital and reserves

Subscribers account	7	154,576	123,329
Profit and loss account	7	( 102,775)	( 86,770)
		---------	---------
Members funds		51,801	36,559
		---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

MOLYVOS LIMITED

Company Limited by Guarantee

Statement of Financial Position (continued)

31 December 2023

These financial statements were approved by the board of directors and authorised for issue on 17 April 2024 , and are signed on behalf of the board by:

Evlampia Daskali	Panagiotis Tryfon
Director	Director

Sophia-Louise Ciccone
Director

Company registration number: 10925802

MOLYVOS LIMITED

Company Limited by Guarantee

Statement of Changes in Equity

Year ended 31 December 2023

		Subscribers account	Profit and loss account	Total
		€	€	€
At 1 January 2022		103,181	( 71,953)	31,228

Loss for the year			( 14,817)	( 14,817)
Other comprehensive income for the year:
	Donations	46,648	–	46,648
	Charitable contributions	(26,500)	–	(26,500)
		---------	--------	--------
Total comprehensive income for the year		20,148	( 14,817)	5,331

At 31 December 2022		123,329	( 86,770)	36,559

Loss for the year			( 16,005)	( 16,005)
Other comprehensive income for the year:
	Donations	46,447	–	46,447
	Charitable contributions	(15,200)	–	(15,200)
		---------	--------	--------
Total comprehensive income for the year		31,247	( 16,005)	15,242

		---------	---------	--------
At 31 December 2023		154,576	( 102,775)	51,801
		---------	---------	--------

MOLYVOS LIMITED

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2023

1. General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is St Georges House, 6th Floor, 15 Hanover Square, London, W1S 1HS, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements are prepared in euro, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Financial instruments

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.

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 are 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.

4. Company limited by guarantee

If the company is wound up all members and members who have ceased to be so within less than one year will contribute to the assets of the company by such amount as may be required for:

a. Payments of debts and liabilities of the company contracted before ceasing to be members

b. Payments of costs, charges and expenses of winding up

c. Adjustments of the rights of the contributors amongst themselves not exceeding the amountof GBP1 for each member

5. Debtors

	2023	2022
	€	€
Prepayments and accrued income	1,907	1,907
	-------	-------

6. Creditors: amounts falling due within one year

	2023	2022
	€	€
Trade creditors	–	3,900
Accruals and deferred income	3,600	3,600
	-------	-------
	3,600	7,500
	-------	-------

7. Reserves

Subscribers reserve - This reserve records the donations and charitable contributions for the year. Profit and loss account - This reserve records retained earnings and accumulated losses.