FLUXION CAPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Fluxion Capital Limited (the Company) is a company incorporated in the United Kingdom under the Companies Act.
The Company is a private company, limited by shares, registered in England and Wales, registration number 09371327. The registered office is 7th Floor 50 Broadway, London, England, SW1H 0DB.
The principal activity of the Company up until 31 December 2019 was that of trading in options and equities on stock exchanges.
These financial statements present the results of the Company for the year ended 31 December 2023.
2.Accounting policies
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Basis of preparation of financial statements
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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 following principal accounting policies have been applied:
During 2019 the Directors took the decision to cease operations and liquidate the company although the timing of this is uncertain. As such the financial statements have been prepared on a basis other than that of a going concern. No adjustments were required in order to present the financial statements on a non going concern basis.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP, rounded to the nearest whole £.
Transactions and balances
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.
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Cash and cash equivalents
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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.
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