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REGISTERED NUMBER: 10816787 (England and Wales)


Fxcubic Ltd

Abridged Unaudited Financial Statements

for the period

1 January 2023 to 25 October 2023






Fxcubic Ltd (Registered number: 10816787)






Contents of the Financial Statements
for the period 1 January 2023 to 25 October 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Fxcubic Ltd

Company Information
for the period 1 January 2023 to 25 October 2023







DIRECTORS: Mr K L Bird





SECRETARY: Ms M Elbaum





REGISTERED OFFICE: 20-22 Wenlock Road
London
N1 7GU





REGISTERED NUMBER: 10816787 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Fxcubic Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fxcubic Ltd for the period ended 25 October 2023 which comprise the Abridged Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Fxcubic Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fxcubic Ltd and state those matters that we have agreed to state to the Board of Directors of Fxcubic Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fxcubic Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fxcubic Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fxcubic Ltd. You consider that Fxcubic Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Fxcubic Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


28 August 2024

Fxcubic Ltd (Registered number: 10816787)

Statement of Financial Position
25 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 826,309 131
Property, plant and equipment 5 11,012 5,349
837,321 5,480

CURRENT ASSETS
Debtors 6 2,197,526 645,636
Investments 7 - 34,584
Cash at bank and in hand 1,299,049 3,823,824
3,496,575 4,504,044
CREDITORS
Amounts falling due within one year 8 1,526,084 1,295,005
NET CURRENT ASSETS 1,970,491 3,209,039
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,807,812

3,214,519

PROVISIONS FOR LIABILITIES 9 2,753 1,016
NET ASSETS 2,805,059 3,213,503

CAPITAL AND RESERVES
Called up share capital 10 254 280
Capital redemption reserve 11 46 20
Retained earnings 11 2,804,759 3,213,203
SHAREHOLDERS' FUNDS 2,805,059 3,213,503

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 25 October 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 25 October 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.

Fxcubic Ltd (Registered number: 10816787)

Statement of Financial Position - continued
25 October 2023


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

All the members have consented to the preparation of an abridged Income Statement for the period ended 25 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 August 2024 and were signed on its behalf by:





Mr K L Bird - Director


Fxcubic Ltd (Registered number: 10816787)

Notes to the Financial Statements
for the period 1 January 2023 to 25 October 2023

1. STATUTORY INFORMATION

Fxcubic 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. ACCOUNTING POLICIES

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

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is derived from the ordinary trading activities of the business and is recognised when the significant risks and rewards of ownership have been transferred to the customers.

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 losses.

The trademark, purchased in 2017, is being amortised evenly over its estimated useful life of ten years.

The IBS intellectual property, purchased on 25th October 2023, is being amortised evenly over its estimated useful life of seven years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance

Taxation
Taxation for the period 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.


Fxcubic Ltd (Registered number: 10816787)

Notes to the Financial Statements - continued
for the period 1 January 2023 to 25 October 2023

2. 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 period 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.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 11 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 270
Additions 826,200
At 25 October 2023 826,470
AMORTISATION
At 1 January 2023 139
Charge for period 22
At 25 October 2023 161
NET BOOK VALUE
At 25 October 2023 826,309
At 31 December 2022 131

Fxcubic Ltd (Registered number: 10816787)

Notes to the Financial Statements - continued
for the period 1 January 2023 to 25 October 2023

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2023 10,523 2,026 12,549
Additions 6,310 2,030 8,340
At 25 October 2023 16,833 4,056 20,889
DEPRECIATION
At 1 January 2023 6,004 1,196 7,200
Charge for period 2,210 467 2,677
At 25 October 2023 8,214 1,663 9,877
NET BOOK VALUE
At 25 October 2023 8,619 2,393 11,012
At 31 December 2022 4,519 830 5,349

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 341,002 638,182
Other debtors 1,856,524 7,454
2,197,526 645,636

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Other - 34,584

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 1,611
Trade creditors 77,824 591,213
Taxation and social security 547,355 637,384
Other creditors 900,905 64,797
1,526,084 1,295,005

Fxcubic Ltd (Registered number: 10816787)

Notes to the Financial Statements - continued
for the period 1 January 2023 to 25 October 2023

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,753 1,016

Deferred
tax
£   
Balance at 1 January 2023 1,016
Charge to Income Statement during period 1,737
Balance at 25 October 2023 2,753

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
254 Ordinary £1 254 280

11. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 3,213,203 20 3,213,223
Profit for the period 2,761,326 2,761,326
Purchase of own shares (3,169,770 ) 26 (3,169,744 )
At 25 October 2023 2,804,759 46 2,804,805

12. RELATED PARTY DISCLOSURES

After the period end, all the shares of the company were acquired by another company. Included in other debtors are amounts owed from that new parent company at balance sheet date of £1,300,000 (2022: Nil). No interest is charged on this balance and it is repayable on demand.