Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-01-01falseNo description of principal activity44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07790243 2023-01-01 2023-12-31 07790243 2022-01-01 2022-12-31 07790243 2023-12-31 07790243 2022-12-31 07790243 c:Director1 2023-01-01 2023-12-31 07790243 c:Director1 2023-12-31 07790243 c:Director2 2023-01-01 2023-12-31 07790243 c:Director2 2023-12-31 07790243 c:RegisteredOffice 2023-01-01 2023-12-31 07790243 d:ComputerEquipment 2023-01-01 2023-12-31 07790243 d:ComputerEquipment 2023-12-31 07790243 d:ComputerEquipment 2022-12-31 07790243 d:CurrentFinancialInstruments 2023-12-31 07790243 d:CurrentFinancialInstruments 2022-12-31 07790243 d:Non-currentFinancialInstruments 2023-12-31 07790243 d:Non-currentFinancialInstruments 2022-12-31 07790243 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07790243 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07790243 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07790243 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 07790243 d:ShareCapital 2023-12-31 07790243 d:ShareCapital 2022-12-31 07790243 d:RetainedEarningsAccumulatedLosses 2023-12-31 07790243 d:RetainedEarningsAccumulatedLosses 2022-12-31 07790243 c:FRS102 2023-01-01 2023-12-31 07790243 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07790243 c:FullAccounts 2023-01-01 2023-12-31 07790243 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07790243 4 2023-01-01 2023-12-31 07790243 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 07790243










FXECOSYSTEM LIMITED
UNAUDITED
ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023





















 
FXECOSYSTEM LIMITED
 
 
Company Information


Directors
J R Banister (resigned 19 December 2023, reappointed 24 September 2024)
R C Banister (appointed 19 December 2023, resigned 24 September 2024)




Registered number
07790243



Registered office
3rd Floor
12 Gough Square

London

EC4A 3DW





 
FXECOSYSTEM LIMITED
Registered number: 07790243

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
491,982
582,958

Cash at bank and in hand
  
46,908
69,519

  
538,890
652,477

Creditors: amounts falling due within one year
 6 
(814,876)
(905,230)

Net current liabilities
  
 
 
(275,986)
 
 
(252,753)

Total assets less current liabilities
  
(275,986)
(252,753)

Creditors: amounts falling due after more than one year
 7 
(263,666)
(314,719)

  

Net liabilities
  
(539,652)
(567,472)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(539,653)
(567,473)

  
(539,652)
(567,472)


Page 1

 
FXECOSYSTEM LIMITED
Registered number: 07790243
    
Balance sheet (continued)
As at 31 December 2023

The director considers 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 director acknowledges his 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 comprehensive income 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 25 September 2024.




J R Banister
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
FXECOSYSTEM LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

1.


General information

FXecosystem Limited is a private company limited by share capital incorporated in England and Wales, registration number 07790243. The registered office is 3rd Floor, 12 Gough Square, London, EC4A 3DW.
The principal activity of the company in the period under review was that of providing outsourced connectivity services for the FX market.

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.

 
2.2

Going concern

The director considers the going concern basis to be appropriate, despite an excess of liabilities over total assets, on the basis that a fellow group company is willing to support the company to meet its obligations, liabilities and commitments for at least twelve months from the date of approval of these financial statements. 

 
2.3

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. 

 
2.4

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:

Computer equipment
-
25% 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.

Page 3

 
FXECOSYSTEM LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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. 

 
2.7

Creditors

Basic financial liabilities, included trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price less any impairment, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

 
2.8

Foreign currency translation

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and loss account except when deferred in other comprehensive income as qualifying cash flow hedges.

Functional and presentation currency

The Company's functional and presentational currency is GBP.


 
2.9

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 4

 
FXECOSYSTEM LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2023
281,118



At 31 December 2023

281,118



Depreciation


At 1 January 2023
281,118



At 31 December 2023

281,118



Net book value



At 31 December 2023
-



At 31 December 2022
-

Page 5

 
FXECOSYSTEM LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

5.


Debtors

2023
2022
£
£


Trade debtors
159,377
1,373

Amounts owed by group undertakings
52,816
304,294

Other debtors
215,122
212,624

Tax recoverable
64,667
64,667

491,982
582,958



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
354,234
346,853

Trade creditors
178,513
335,404

Corporation tax
30,425
64,667

Other taxation and social security
14,653
9,670

Other creditors
237,051
148,636

814,876
905,230



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to group undertakings
263,666
314,719

263,666
314,719



8.


Related party transactions

At 31 December 2023, the company was owed £197,284 (2022: £197,284) by a former director.

Page 6