REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
FX STAT LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
FX STAT LTD |
FX STAT LTD (REGISTERED NUMBER: 07212997) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
FX STAT LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
FX STAT LTD (REGISTERED NUMBER: 07212997) |
STATEMENT OF FINANCIAL POSITION |
30 APRIL 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
FX STAT LTD (REGISTERED NUMBER: 07212997) |
STATEMENT OF FINANCIAL POSITION - continued |
30 APRIL 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
FX STAT LTD (REGISTERED NUMBER: 07212997) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
1. | STATUTORY INFORMATION |
FX Stat Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, and other sales taxes. |
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment. |
Computer software and Brand/ITdevelopment costs are being amortised evenly over their estimated useful life of three and ten years respectively. |
Tangible fixed assets |
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment |
losses. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery - 20% on cost |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
FX STAT LTD (REGISTERED NUMBER: 07212997) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate. |
Going concern |
The financial statements have been prepared on the going concern basis. The company incurred losses during the year, however the directors believe that the company has sufficient financial resources to be able to meet its obligations, if and when they become due and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. On this basis, the directors are of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
FX STAT LTD (REGISTERED NUMBER: 07212997) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
5. | INTANGIBLE FIXED ASSETS |
Brand | Computer |
development | software | Totals |
£ | £ | £ |
COST |
At 1 May 2022 |
and 30 April 2023 |
AMORTISATION |
At 1 May 2022 |
Amortisation for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 May 2022 |
Additions |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
Directors' current accounts | 44,673 | 17,759 |
FX STAT LTD (REGISTERED NUMBER: 07212997) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Social security and other taxes |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Other creditors |
Included in creditors due after 1 year is a subordinated loan from the connected company FX Stat LLC. The loan is interest free and repayable only after all other loans are repaid and if there are sufficient funds remaining to repay the loan. |
10. | RELATED PARTY DISCLOSURES |
At the date of the statement of financial position the director had a debit balance of £44,673 (2022: £17,759) which was owed to the company. An interest of £618 has been charged to the income statement for the year. |