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Mollyroe Plc - Consolidated Financial Statements for the Year Ended 31st December 2024 and Notice of AGM


News provided by

Mollyroe Plc

11 Jun, 2025, 16:56 GMT


                                           Mollyroe Plc

(“Mollyroe” or the “Company”)

Consolidated Financial Statements for the Year Ended 31st December 2024

Notice of AGM

Chairman’s Statement Year End 31st December 2024

In 2024 the Company continued its focus on minimal overheads whilst seeking opportunities in line with the new corporate strategy adopted in 2022.

The Company identified a number of opportunities and conducted due diligence on a number of them. The company went so far as to offer terms to a potential investee business. We have explored specific opportunities including in medtech, student housing and elderly care facilities. However, due to what continue to be adverse market conditions with limited capital raising options, no project has progressed to formal agreement. We believe that we are seeing the first early signs of market conditions generally being more positive and should this continue opportunity to make progress should increase. A number of possibilities are still under consideration.

The Company will continue to focus on opportunities which would provide the Company with an economic interest (by equity, royalty or debt participation) and a controlling interest (through board or management positions) and whose potential value, over the long term, is greater than the price and costs expended by the Company to acquire them. The Company also reserved the ability to make investments outside of the technology sector, if the Directors believe that they will bring long-term value to shareholders. The Company does not propose to limit its search to any specific geographic location; however the Directors will ensure that the geographic location of any investment opportunity is suitable for institutional investment in the London market.

The Board has continued to limit overheads, the directors have accrued fees, which remain unpaid, and the Company remains in a good financial position. 

The Notice of AGM can be found at the end of this announcement and will shortly be available at the Company website at https://www.mollyroeplc.com/

N Lyons

Chairman

The Directors of the Company accept responsibility for the contents of this announcement.

Enquiries

Company

Paul Ryan - Executive Director   

mollyroeplc@gmail.com

Peterhouse Capital Limited - Financial Adviser and Corporate Broker

+ 44 (0) 20 7469 0930

Consolidated Statement of Comprehensive Income

for the Year Ended 31st December 2024

2024 2023
£ £
TURNOVER - -
Administrative expenses (139,369) (72,882)
OPERATING LOSS (139,369) (72,882)
Interest receivable and similar income   4,312  4,099
LOSS BEFORE TAXATION (135,057) (68,783)
Tax on loss - -
LOSS FOR THE FINANCIAL YEAR (135,057) (68,783)
Loss attributable to:Owners of the parent (135,057) (68,783)
(Restated)
Earnings per share expressedin pence per share:
Basic (0.34) (0.17)
Diluted (0.34) (0.17)

The Group has no recognised gains or losses other than those disclosed in the Income Statement above. Consequently, no Statement of Other Comprehensive Income is presented.

Consolidated Statement of Financial Position

for the Year Ended 31st December 2024

                                                                                                                                                           2024                                                 2023

                                                                                                                                                                £                                                       £

CURRENT ASSETS

Debtors                                                                                                                                                 8,603                                            7,578

Cash at bank                                                                                                                                    299,215                                        335,550

                                                                                                                                                        307,818                                        343,128

CREDITORS

Amounts falling due within one year                                                      (131,445)                                             (42,948)

NET CURRENT ASSETS                                                                                                         176,373                                         300,180

TOTAL ASSETS LESS CURRENT LIABILITIES
                                                          176,373

                                        300,180

CAPITAL AND RESERVES

Called up share capital                                                                                                                  418,946                                        418,861

Share premium                                                                                                                                  14,638                                            3,473

Retained earnings                                                                                                                         (257,211)                                    (122,154)

SHAREHOLDERS' FUNDS                                                                                                          176,373                                        300,180

The financial statements were approved by the Board of Directors and authorised for issue on __                     __ and were signed on its behalf by:

......................................................................

P Ryan - Director

......................................................................

N Lyon - Director

Company Statement of Financial Position

for the Year Ended 31st December 2024

                                                                                                                                                           2024                                                    2023

                                                                                                                                                                £                                                          £

FIXED ASSETS

Investments                                                                                                                                                 4                                                    4

CURRENT ASSETS

Debtors                                                                                                                                                 8,544                                            7,520

Cash at bank                                                                                                                                   299,215                                        335,550

                                                                                                                                                        307,759                                     343,070

CREDITORS

Amounts falling due within one year                                                      (142,512)                                             (54,016)

NET CURRENT ASSETS                                                                                                        165,247                                            289,054

NET ASSETS
                                                      165,251

                                           289,058

CAPITAL AND RESERVES

Called up share capital                                                                                                                  418,946                                        418,861

Share premium                                                                                                                                  14,638                                            3,473

Retained earnings                                                                                                                         (268,333)                                    (133,276)

SHAREHOLDERS' FUNDS                                                                                                          165,251                                        289,058

The financial statements were approved by the Board of Directors and authorised for issue on __                  __ and were signed on its behalf by:

......................................................................

P Ryan - Director

......................................................................

N Lyon - Director

Consolidated Statement of Changes in Equity

for the Year Ended 31st December 2024

                                                                                                                        Called up

                                                                                                                           share                   Retained                   Share                    Total

                                                                                                                          capital                   earnings                 premium               equity

                                                                                                                              £                               £                               £                               £

Balance at 1st January 2023                                                                    418,861                   (53,371)                      3,473                  368,963

Changes in equity

Total comprehensive income                                                                                    -                   (68,783)                               -                 (68,783)

Balance at 31st December 2023                                                              418,861                 (122,154)                      3,473                 300,180

Changes in equity

Total comprehensive income                                                                                    -                                                                   (135,057)                               -                                                                                                                                            (135,057)

New share capital subscribed                                                                         85                                -                        11,165          11,250

Balance at 31st December 2024                                                              418,946           (257,211)                    14,638            176,373

Company Statement of Changes in Equity

for the Year Ended 31st December 2024

                                                                                                                        Called up

                                                                                                                           share                   Retained                   Share                    Total

                                                                                                                          capital                   earnings                 premium               equity

                                                                                                                              £                               £                               £                               £

Balance at 1st January 2023                                                                    418,861                   (64,493)                      3,473       357,841

Changes in equity

Total comprehensive income                                                                                    -                   (68,783)                               -      (68,783)

                                                                                                                                                     Balance at 31st December 2023                                                                 418,861                  (133,276)                      3,473       289,058

Changes in equity

Total comprehensive income                                                                                    -                 (135,057)                               -    (135,057)

New share capital subscribed                                                                               85                                -                     11,165         11,250

Balance at 31st December 2024                                          418,946                 (268,333)                    14,638       165,251

Consolidated Cash Flow Statement

for the Year Ended 31st December 2024

                                                                                                                                                           2024                                                        2023

                                                                                                                                                                £                                                                £

Cash flows from operating activities

Loss for the financial year                                                                                                            (135,057)                                      (68,783)

Interest received                                                                                                                                (4,312)                                         (4,099)

      (Increase)/decrease in debtors                                                                                                       (1,025)                                               286

Increase in creditors                                                                                                                         88,497                                          20,582

Net cash used in operating activities                                                                                           (51,897)                                      (52,014)

Cash flows from investing activities

Interest received                                                                                                                           4,312                                            4,099

Net cash from investing activities                                                                                                 4,312                                            4,099

Cash flows from financing activities

Issue of new shares                                                                                                                11,250                                                     -

Net cash from financing activities                                                                                          11,250                                                     -

Decrease in cash and cash equivalents              (36,335)                                     (47,915)
Cash and cash equivalents at beginning of year                                                     335,550                                    383,465
Cash and cash equivalents at end of year                                                   299,215                                                              335,550

Notice of meeting

Year Ended 31st December 2024

Notice of Meeting

NOTICE IS HEREBY GIVEN that the thirty second Annual General Meeting of Mollyroe plc will be held on Friday 25th July 2025 at 11am at the offices of Peterhouse Capital Limited, Third Floor, 80 Cheapside, London, EC2V 6EE, for the following purposes:

  • To receive and adopt the financial statement for the year ended 31 December 2024 together with the reports of the Directors       and                                               the Auditor thereon.
  • To re-elect Paul Ryan as a director (retired by rotation)
  • To authorise the Directors, in accordance with section 551 of the Companies Act 2006 (the “Act”), to exercise all the powers of the Company to allot Ordinary Shares in a nominal amount of £45,000
  • To re-appoint as Auditor Edwards Veeder (UK) Limited
  • To authorise the Directors to agree their remuneration, such powers to expire at the AGM held in 2026
  • To authorise, by special resolution, that the Directors be empowered pursuant to section 570 of the Act to allot equity securities wholly for cash, within the meaning of section 560 (1) of the Act, pursuant to a general authority conferred by the resolution above as if section 561 (1) of the Act did not apply to any such allotment of equity securities,.

By order of the board

 Nicholas Smith for and on behalf of

RT Secretarial Services LimitedSecretary Date:   11th June 2025    

Notes:

  1. Enclosed with these accounts is a letter concerning the supply of documents and information by e-mail. Please read this letter and, if you would like to receive documents and information in this way, please complete and return the enclosed form.
  2. A member entitled to attend and vote at this meeting is entitled to appoint a proxy to attend and vote in his stead. A proxy need not be a member of the Company. Proxy forms must be lodged at the Registered Office not later than forty-eight hours before the time fixed for the meeting.


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