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REGISTERED NUMBER: 07212997 (England and Wales)















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: B M Alweshaigri
S Daneshmand





REGISTERED OFFICE: 2 Lakeside Drive
London
England
NW10 7FQ





REGISTERED NUMBER: 07212997 (England and Wales)






FX STAT LTD (REGISTERED NUMBER: 07212997)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 349,528 535,596
Tangible assets 6 9,901 8,246
359,429 543,842

CURRENT ASSETS
Debtors 7 1,502,249 1,141,588
Cash at bank 3,956,573 4,711,739
5,458,822 5,853,327
CREDITORS
Amounts falling due within one year 8 17,902 71,014
NET CURRENT ASSETS 5,440,920 5,782,313
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,800,349

6,326,155

CREDITORS
Amounts falling due after more than one
year

9

4,720,183

4,770,489
NET ASSETS 1,080,166 1,555,666

CAPITAL AND RESERVES
Called up share capital 4,102,043 4,102,043
Retained earnings (3,021,877 ) (2,546,377 )
1,080,166 1,555,666

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

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


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





S Daneshmand - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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 1 (2022 - 1 ) .

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 1,820,040 13,542 1,833,582
AMORTISATION
At 1 May 2022 1,288,508 9,478 1,297,986
Amortisation for year 182,004 4,064 186,068
At 30 April 2023 1,470,512 13,542 1,484,054
NET BOOK VALUE
At 30 April 2023 349,528 - 349,528
At 30 April 2022 531,532 4,064 535,596

6. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 May 2022 67,854
Additions 3,999
At 30 April 2023 71,853
DEPRECIATION
At 1 May 2022 59,608
Charge for year 2,344
At 30 April 2023 61,952
NET BOOK VALUE
At 30 April 2023 9,901
At 30 April 2022 8,246

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Amounts owed by group undertakings 1,222,760 845,085
Other debtors 234,816 278,744
Directors' current accounts 44,673 17,759
1,502,249 1,141,588

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 2,825 -
Other creditors 15,077 71,014
17,902 71,014

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.23 30.4.22
£    £   
Other creditors 4,720,183 4,770,489

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.