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REGISTERED NUMBER: 07372309














Unaudited Financial Statements for the Year Ended 31 December 2023

for

Exchangewire Ltd

Exchangewire Ltd (Registered number: 07372309)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Exchangewire Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr C O'Kane





REGISTERED OFFICE: 8 Coldbath Square
London
EC1R 5HL





REGISTERED NUMBER: 07372309





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Exchangewire Ltd (Registered number: 07372309)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,000 37,000
Tangible assets 5 23,265 27,309
46,265 64,309

CURRENT ASSETS
Debtors 6 189,716 454,811
Cash at bank 301,680 715,216
491,396 1,170,027
CREDITORS
Amounts falling due within one year 7 337,233 619,955
NET CURRENT ASSETS 154,163 550,072
TOTAL ASSETS LESS CURRENT LIABILITIES 200,428 614,381

CREDITORS
Amounts falling due after more than one
year

8

74,609

120,833
NET ASSETS 125,819 493,548

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 125,818 493,547
125,819 493,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Exchangewire Ltd (Registered number: 07372309)

Balance Sheet - continued
31 December 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 director and authorised for issue on 25 September 2024 and were signed by:





Mr C O'Kane - Director


Exchangewire Ltd (Registered number: 07372309)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Exchangewire Ltd is a private company, limited by shares , registered in Not specified/Other. 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten 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 cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% 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 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.

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.

Exchangewire Ltd (Registered number: 07372309)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 January 2023
and 31 December 2023 140,000
AMORTISATION
At 1 January 2023 103,000
Amortisation for year 14,000
At 31 December 2023 117,000
NET BOOK VALUE
At 31 December 2023 23,000
At 31 December 2022 37,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 5,169 16,683 51,448 73,300
Additions - - 7,861 7,861
At 31 December 2023 5,169 16,683 59,309 81,161
DEPRECIATION
At 1 January 2023 2,346 4,171 39,474 45,991
Charge for year 941 4,171 6,793 11,905
At 31 December 2023 3,287 8,342 46,267 57,896
NET BOOK VALUE
At 31 December 2023 1,882 8,341 13,042 23,265
At 31 December 2022 2,823 12,512 11,974 27,309

Exchangewire Ltd (Registered number: 07372309)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 63,873 327,816
Amounts owed by associates 85,160 71,815
Other debtors 39,125 43,830
188,158 443,461

Amounts falling due after more than one year:
Amounts owed by group undertakings 1,558 11,350

Aggregate amounts 189,716 454,811

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 50,696 50,721
Trade creditors 44,517 56,862
Amounts owed to associates 29,592 5,604
Taxation and social security 141,057 177,288
Other creditors 71,371 329,480
337,233 619,955

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 74,609 120,833

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 74,609 120,833