Registered number
11837285
Divergency FX Limited
Filleted Accounts
31 January 2024
Divergency FX Limited
Registered number: 11837285
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 - 547
Cash at bank and in hand 144 54
144 601
Creditors: amounts falling due within one year 4 (6,706) (2,148)
Net current liabilities (6,562) (1,547)
Net liabilities (6,562) (1,547)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (7,562) (2,547)
Shareholder's funds (6,562) (1,547)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L De Souza
Director
Approved by the board on 30 October 2024
Divergency FX Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Summary of significant accounting policies
Basis of preparation
The accounts have been prepared in accordance with Financial Reporting Standard 102 (FRS 102) and the Companies Act 2006 (as applicable to companies subject to the small company regime).

The significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Group accounts exemption
The company and its parent comprise a small group. The parent company has taken advantage of the exemption provided by S399 (2A) Companies Act 2006 not to prepare group accounts.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the rendering of services and revenue from Management and Performance fees earned following the contracting of Licensed Entities and Qualified investors for Investment Management Services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Revenue from Investment Management activities is recognised when the associated contract is accepted for direct remuneration between the contracting parties or in other cases via LPOA (Limited Power of Attorney) contract by the trading platform for the remuneration of fees earned.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits
When employees have rendered service to the company, short term employees benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
Going Concern
The company has indebtedness of short-term borrowing. The company is reliant on the continued availability of this borrowing. The directors do not consider this support will be withdrawn and that the company can continue trading as a going concern for the foreseeable future.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 547
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,071 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 402 -
Other creditors 4,233 2,148
6,706 2,148
5 Share Capital Nominal 2024 2024 2023
value Number £ £
Ordinary shares £1 each 1,000 1,000 1,000
6 Related party transactions
During the year various amounts were loaned by and to the parent company. This is an interest free loan repayable on demand. At the year end the balance owed from the parent is £402 (2023 balance owed to the parent is £547).
7 Other information
Divergency FX Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 137, Wey House
15 Church Street
Weybridge
Surrey
KT13 8NA
Divergency FX Limited 11837285 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts July 2024 L De Souza No description of principal activity 11837285 2022-02-01 2023-01-31 11837285 core:WithinOneYear 2023-01-31 11837285 core:ShareCapital 2023-01-31 11837285 core:RetainedEarningsAccumulatedLosses 2023-01-31 11837285 2023-02-01 2024-01-31 11837285 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11837285 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 11837285 bus:Director40 2023-02-01 2024-01-31 11837285 1 2023-02-01 2024-01-31 11837285 2 2023-02-01 2024-01-31 11837285 countries:England 2023-02-01 2024-01-31 11837285 bus:FRS102 2023-02-01 2024-01-31 11837285 bus:FilletedAccounts 2023-02-01 2024-01-31 11837285 2024-01-31 11837285 core:WithinOneYear 2024-01-31 11837285 core:ShareCapital 2024-01-31 11837285 core:RetainedEarningsAccumulatedLosses 2024-01-31 11837285 2023-01-31 iso4217:GBP iso4217:GBP xbrli:shares xbrli:pure xbrli:shares