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REGISTERED NUMBER: 07595370 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

FX DIGITAL LTD

FX DIGITAL LTD (Registered number: 07595370)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FX DIGITAL LTD

Company Information
for the Year Ended 30 April 2024







DIRECTORS: T E Smith
M J Duhig





REGISTERED OFFICE: 6th Floor Bentima House
168-172 Old Street
London
EC1V 9BP





REGISTERED NUMBER: 07595370 (England and Wales)





ACCOUNTANT: Jones Scott & Co
Chartd Certified Accountant
34 Wembley Avenue
Mayland
Chelmsford
Essex
CM3 6AY

FX DIGITAL LTD (Registered number: 07595370)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,954 56,246

CURRENT ASSETS
Debtors 5 925,531 931,515
Cash at bank 1,789,690 605,088
2,715,221 1,536,603
CREDITORS
Amounts falling due within one year 6 506,457 360,560
NET CURRENT ASSETS 2,208,764 1,176,043
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,265,718

1,232,289

CREDITORS
Amounts falling due after more than one
year

7

(10,834

)

(24,570

)

PROVISIONS FOR LIABILITIES 9 (13,845 ) (11,933 )
NET ASSETS 2,241,039 1,195,786

CAPITAL AND RESERVES
Called up share capital 10 2 2
Other reserves 11 10,790 -
Retained earnings 11 2,230,247 1,195,784
SHAREHOLDERS' FUNDS 2,241,039 1,195,786

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 DIGITAL LTD (Registered number: 07595370)

Balance Sheet - continued
30 April 2024


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 20 September 2024 and were signed on its behalf by:





M J Duhig - Director


FX DIGITAL LTD (Registered number: 07595370)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

FX DIGITAL 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 33% on cost
Plant and machinery etc - 25% on reducing balance

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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 year was 42 (2023 - 45 ) .

FX DIGITAL LTD (Registered number: 07595370)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 28,283 119,330 147,613
Additions - 28,595 28,595
At 30 April 2024 28,283 147,925 176,208
DEPRECIATION
At 1 May 2023 17,284 74,083 91,367
Charge for year 9,427 18,460 27,887
At 30 April 2024 26,711 92,543 119,254
NET BOOK VALUE
At 30 April 2024 1,572 55,382 56,954
At 30 April 2023 10,999 45,247 56,246

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 627,654 447,950
Other debtors 297,877 483,565
925,531 931,515

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 30,456 66,521
Taxation and social security 160,832 101,175
Other creditors 305,169 182,864
506,457 360,560

Taxation and social security payable includes an R & D tax credit repayment of £50,250 which was received in the prior year. This repayment is a result of an amendment to the company's prior year loss relief claim.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 10,834 20,833
Other creditors - 3,737
10,834 24,570

FX DIGITAL LTD (Registered number: 07595370)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.24 30.4.23
£    £   
Within one year 51,071 238,790
Between one and five years 4,902 45,729
55,973 284,519

9. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax
Accelerated capital allowances 13,845 11,933

Deferred
tax
£   
Balance at 1 May 2023 11,933
Provided during year 1,912
Balance at 30 April 2024 13,845

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
200,000 Ordinary £0.00001 2 2

11. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 May 2023 1,195,784 - 1,195,784
Profit for the year 1,200,463 1,200,463
Dividends (166,000 ) (166,000 )
Share option reserve - 10,790 10,790
At 30 April 2024 2,230,247 10,790 2,241,037

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £166,000 (2023 - £138,000) were paid to the directors .

FX DIGITAL LTD (Registered number: 07595370)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

13. POST BALANCE SHEET EVENTS

A Spanish subsidiary was incorporated after the year end and is owned 100% by FX Digital Ltd.

This event is considered a non-adjusting post balance sheet event as per the requirements of FRS 102 Section 1A. The Spanish subsidiary was incorporated after the balance sheet date and, as such, does not affect the amounts recognised in the financial statements for the year ended 30 April 2024.

The directors believe that the subsidiary will bring improved operational efficiency, cost savings and enhanced market presence.

14. ULTIMATE CONTROLLING PARTY

It is the opinion of the directors that jointly they are the controlling party.

15. SHARE-BASED PAYMENT TRANSACTIONS

The company operates an EMI share option scheme under which options are granted to employees.
These options, 22,222 B Shares at a nominal value of £0.00001, vest over a period of 4 years from the grant date.

The fair value of the options at the grant date has been determined using the Black Scholes valuation method. The total expense recognised in the Profit & Loss Account for the period ended 30 April 2024 is £10,790.