Annual Report 2020 - Monzo

UK Monzo Chat
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Has Monzo announced any date for The release of their annual report yet ?

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No

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Thanks that’s great :smiley:

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What on earth is going on,how much longer before Monzo release some numbers.

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Legally, Monzo do not have to publish them until 30th November 2020. The time to worry is when they fail to publish them then.

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You have noticed this global pandemic thingy haven’t you?

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Lloyds and Barclays’ half-year results this week don’t make for happy reading, so whatever the content of Monzo’s annual report, this year’s is going to be a whole different ballgame.

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It won’t actually because it will only be up to Feb

Next year is a different story

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I agree. By “this year”, I did actually mean the report that covers 2020.

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Ah ok, won’t be published till late 2021 and this thread if for the 2020 annual report.

Feel free to start one for 2021…

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Owing to the pandemic, filing deadlines have been extended by 3 months so actually the deadline is now end-Feb 2021.

I genuinely don’t see why people are getting so worked up about this being later than last year - there’s so much more work going to be required by both Monzo’s finance team and the external auditors, all potentially with staff at below capacity owing to furlough, all likely done remotely.

I actually think it’s a good thing that the annual report is later than prior years as it gives more certainty around the year end figures. There’s an accounting concept called ‘net realisable value’ - you value an asset at what you can get for it. So, for example, Monzo’s loan book may have taken a significant hit as a result of pandemic-related defaults. What you therefore have to do is factor this into the valuation of loans at the end of February as you’re never going to get all of their value paid back (an impairment).

Say you released the year end figures on 1st March, you wouldn’t have foreseen and accounted for all the massive write-downs that were going to come and the accounts would be misleading.

Later results = more accurate results which, as investors or interested parties, is definitely in everyone’s interest.

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I can’t see the report on companies house :thinking:

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I’ve started a Topic over here for the discussion :point_right: Annual Report 2020