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Registered number: 04972799









IN TOUCH CAPITAL MARKETS LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023


 
IN TOUCH CAPITAL MARKETS LIMITED
REGISTERED NUMBER:04972799

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,061
8,120

Investments
 5 
369,784
183,784

  
373,845
191,904

Current assets
  

Debtors
 6 
1,897,063
1,264,556

Cash at bank and in hand
 7 
1,339,864
1,433,906

  
3,236,927
2,698,462

Creditors: amounts falling due within one year
 8 
(2,211,608)
(1,649,226)

Net current assets
  
 
 
1,025,319
 
 
1,049,236

Total assets less current liabilities
  
1,399,164
1,241,140

Net assets
  
1,399,164
1,241,140


Capital and reserves
  

Called up share capital 
  
39,500
39,500

Profit and loss account
  
1,359,664
1,201,640

Shareholders' funds
  
1,399,164
1,241,140


Page 1


 
IN TOUCH CAPITAL MARKETS LIMITED
REGISTERED NUMBER:04972799
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 August 2024.




Mr R G Belec
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2


 
IN TOUCH CAPITAL MARKETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

The Company is incorporated in England and Wales and is limited by shares.  The registered office is located at Yew Tree House Lewes Road, Forest Row, East Sussex, RH18 5AA.  The Company's principal place of business is Watson Suite, The Old Town Hall, 4 Queens Road, London, SW19 8YB.  The principal activity of the Company is that of electronic information provided for the financial markets.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3


 
IN TOUCH CAPITAL MARKETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

Page 4


 
IN TOUCH CAPITAL MARKETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2022 - 14).

Page 5


 
IN TOUCH CAPITAL MARKETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 December 2022
82,807



At 30 November 2023

82,807



Depreciation


At 1 December 2022
74,687


Charge for the year on owned assets
4,059



At 30 November 2023

78,746



Net book value



At 30 November 2023
4,061



At 30 November 2022
8,120


5.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Total

£
£
£



Cost or valuation


At 1 December 2022
183,743
41
183,784


Additions
186,000
-
186,000



At 30 November 2023
369,743
41
369,784




During the year In Touch Capital Markets Limited acquired shares in ITC FX Ltd

Page 6


 
IN TOUCH CAPITAL MARKETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
404,953
205,937

Amounts owed by joint ventures and associated undertakings
1,237,387
822,206

Other debtors
254,724
236,409

1,897,064
1,264,552



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,339,864
1,433,906

1,339,864
1,433,906



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
104,333
73,877

Other taxation and social security
108,105
78,030

Other creditors
149,434
109,929

Accruals and deferred income
1,849,736
1,387,390

2,211,608
1,649,226



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £46,845 (2022 - £42,777). 

Page 7


 
IN TOUCH CAPITAL MARKETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

10.


Related party transactions

IIn Touch Capital Markets Limited owns shares of has an interest in the following companies with intercompany closing balances as follows:
Brokertalk Ltd debtor £39,511 (2022 - £69,294)
ITC CRVM Limited creditor £3,059 (2022 - £414)
ITC FX Limited creditor £106,994 (2022 - £106,180)
Econostream Media Limited creditor £1,895 (2022 - £3,325)
ITC LLP New York debtor £18,241 (2022 - £38,017)
Econostream News Limited creditor £14,607 (2022 - debtor £260)
In Touch Capital Markets Pte. Limited Singapore debtor £1,179,635 (2022 - £714.635)


11.


Controlling party

The director is the sole controlling party of the company.

 
Page 8