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Registered Number: 08519750
England and Wales

 

 

 

STRICTLY MONEY LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 May 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Shahidullah & Co
31 May 2023



....................................................
Shahidullah & Co
299A Bethnal Green Road

London
E2 6AH
02 March 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 2,011,886   
Investments 4 441,760    441,760 
2,453,646    441,760 
Current assets      
Debtors: amounts falling due within one year 34,500    14,480 
Cash at bank and in hand 929    4,053 
35,429    18,533 
Creditors: amount falling due within one year (89,120)   (44,775)
Net current liabilities (53,691)   (26,242)
 
Total assets less current liabilities 2,399,955    415,518 
Creditors: amount falling due after more than one year (179,385)   (1,048,862)
Net assets 2,220,570    (633,344)
 

Capital and reserves
     
Called up share capital 2,107,483    1,489,325 
Share premium account 339,842    108,000 
Profit and loss account (226,755)   (2,230,669)
Shareholder's funds 2,220,570    (633,344)
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 02 March 2024 and were signed on its behalf by:


-------------------------------
Mary Philomena Prendergast
Director
-------------------------------
Stephen Roy Ashurst
Director
-------------------------------
Gray Smith
Director
2
General Information
STRICTLY MONEY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08519750, registration address 16 Berkeley Street, London, W1J 8DZ.

Strictly Money Limited was founded in the UK in 2013 and has been devising new and innovative banking and wealth solutions for 3+ years located in the planets fintech hub: London.
Significant R&D capital has been contributed to develop the Strictly Money project. In 2024, Strictly Money plans to launch a new app that brings banking payments, wealth and entrepreneur benefits together in one destination.
Innovation is in Strictly Moneys DNA. The Company aims to launch the first R&D-driven entrepreneur-focused, hedge fund powered cards and payments app on the market.
Strictly Money will leverage AI in the development and launch of its app. Use of AI can significantly enhance operational efficiency, risk management, investment intelligence, and customer experience. However, it should be noted that the Company will have to stay abreast of regulatory developments and ensure its AI applications are ethical, transparent, and compliant with the evolving regulatory landscape.
Strictly Money is building a core team focusing on a mix of technical expertise, industry knowledge and soft skills. The team will be well equipped to navigate the complexities of the fintech landscape, drive innovation and deliver solutions that meet the evolving needs of the Companys target customers.


1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Development expenditures
Research and development expenditure is charged to the income statement in the period in which it is incurred. However, where the directors are satisfied as to the technical, commercial and financial viability of individual projects, development expenditure is deferred and amortised over years during which the company is expected to benefit.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 June 2022  
Additions 2,011,886    2,011,886 
Disposals  
At 31 May 2023 2,011,886    2,011,886 
Amortisation
At 01 June 2022  
Charge for year  
On disposals  
At 31 May 2023  
Net book values
At 31 May 2023 2,011,886    2,011,886 
At 31 May 2022  


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 June 2022 333,410    333,410 
Additions 108,350    108,350 
Transfer to/from tangible fixed assets  
Disposals  
At 31 May 2023 441,760    441,760 

3