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Disseminated via PRN on 11 June 2025
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
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:
By order of the board
Nicholas Smith for and on behalf of
| RT Secretarial Services LimitedSecretary | Date: 11th June 2025 |
Notes:
