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REGISTERED NUMBER: 08698974 (England and Wales)












Strategic Report,

Report of the Director and

Financial Statements

for the Year Ended 30 June 2024

for

Alchemy Prime Limited

Alchemy Prime Limited (Registered number: 08698974)






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




Page

Company Information 1

Strategic Report 2

Report of the Director 6

Report of the Independent Auditors 8

Income Statement 12

Other Comprehensive Income 13

Statement of Financial Position 14

Statement of Changes in Equity 15

Statement of Cash Flows 16

Notes to the Statement of Cash Flows 17

Notes to the Financial Statements 19


Alchemy Prime Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: P G Cann



REGISTERED OFFICE: Unit 1
74 Back Church Lane
London
E1 1LX



REGISTERED NUMBER: 08698974 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr Bryan Michael Kemsley FCCA FMAAT



INDEPENDENT AUDITORS: Ardor Business Solutions Limited
Statutory Auditors
Chartered Certified Accountants
Unit 1
Shrine Barn
Sandling Road
Hythe
Kent
CT21 4HE

Alchemy Prime Limited (Registered number: 08698974)

Strategic Report
for the Year Ended 30 June 2024

The director presents the strategic report for the year ended 30 June 2024.

The principal activity of the Company continues to be that of providing a website to facilitate FX & CFD trading. The Company is authorised and regulated by the Financial Conduct Authority (FCA).

The strategic objectives of the Company include the expansion of the business and increasing the number of new clients. We are looking to increase the profitability of the Company and other group companies as a whole and facilitate improvements in efficiencies of trading.

REVIEW OF BUSINESS
The director is pleased with the performance and position of the Company for the year. The operating loss decreased from £278,885 of last year to £63,113 this year was due to external factors and significant increase in level of activities as well as the continuously control over the operating cost. Further, significant income earned from bank interest during the year turned the overall result into profit position. The environment going forward appears positive and market volatility is a key driver for revenue growth. The Company will continue to work hard to drive revenue from trading activities.

Going concern
The Director has undertaken an assessment of whether the Company was a going concern when the accounts were prepared, considering all available information about the future including the current economic climate, covering a period of 12 months from the date of the approval of the accounts. Following this review, the Director believes that the preparation of these financial statements on a going concern basis is appropriate.


Alchemy Prime Limited (Registered number: 08698974)

Strategic Report
for the Year Ended 30 June 2024

PRINCIPAL RISKS AND UNCERTAINTIES
Exchange rate risk
The Company trades across the World, and primarily accepts deposits in 3 currencies, GBP, EUR, and USD. This limits the exposure to currency movements as we currently hold the funds in bank accounts in those specific the currencies that our clients place with us. We do hold some alternative minority bank accounts to enable receipt of deposits in other currencies apart from these 3.

Settlement risk
The Company is exposed to the risk that Professional Clients and Eligible Counterparties that use our services will not settle their trades in a timely fashion if they end up in negative position in their account, consequently the Company is careful about with whom it sets up arrangements in order to mitigate these risks. We rely on our in­depth client research to assist with the assessment of the risk to the business.

Technology
The company is exposed to technology and latency risk, but this is in a constant re-assessment and is mitigated with the use of the latest technology and a strong direction of the company, so an assessment of technology focuses on whether it does the job in the fashion that we wanted. All new technology is thoroughly tested both by the company and any key clients that may come into contact with it to see that it meets the requirements. We continue to have a dedicated COO to see that IT continues to function in an appropriate and timely manner, but to also increase the functionality. We are using technology to try and develop new markets, with direct to customer electronic customer facing items.

Business Risk
Business risk is defined as the potential loss (or inability to realise planned revenues) arising from the inability to properly implement strategic plans. The shareholder is willing and able to commit further injections of capital if required. Ongoing accounts are compiled quarterly to highlight any potential issues and to meet FCA regulatory requirements. The overarching group strategy is to diversify our interests, and we are kept up to date with ongoing or new potential regulatory issues by subscribing to FCA daily notices.

Conduct Risk
Conduct risk covers anything the firm might engage in that could cause problems with the regulator resulting from dealings with customers, staff, consumer protection, market integrity or competition. To deal with any issues as speedily as possible we have our own on-site Compliance Officer and MLRO and have now worked with our firm of external compliance consultants since August 2019 on retainer, following the assessment of the previous service provider. We also have Best Execution policies, a 4 eyes approach to as many processes as is practical, and a Financial Crime policy covering items such as Onboarding, Fraud and AML. KYC has been automated in our first third party provider relationship. Staff are encouraged to take external examinations in these subjects and we have a further set of internal courses and examinations that are taken each year by all staff, provided by Compliancy, to ensure that staff knowledge remains up to date as there are limited e limited external CPD opportunities.

Credit Risk & Counterparty Credit Risk
Credit risk is the risk arising from an event that causes an asset (including off-balance sheet transactions) to lose value or become worthless. We are continually seeking to diversify our deposits at bank in order to lessen the exposure to each counterparty. We also deal with LPs who we take up investigations about their financial stability, which has been reviewed each quarter. Client Money is segregated from our own funds and where clients qualify, they can access further protection through the FSCS provisions. LPs prefer to do business with us on a TTCA basis, so we become creditors of theirs.

Liquidity Risk
The risk of mismanagement of liquidity positions or inability to ensure that cash outflows are matched by inflows. There are no long-term debts held by the company and the business model allows for most revenues to be converted to cash in a short time. The company has no long term receivables.

Market Risk
Market Risk is the risk of financial loss as a result of adverse market movements of market variables such as foreign exchange rates, interest rates, equity prices and commodity prices, thereby affecting the value of a financial instrument or portfolio. There are currently no assets or liabilities on the balance sheet with significant exposure to interest rate, and there is a use of hedging for significant balances or transactions but no exposure to any equity positions.

Alchemy Prime Limited (Registered number: 08698974)

Strategic Report
for the Year Ended 30 June 2024


People Risk
The risks from employment and contractual issues including failure to recruit the right staff with appropriate skills/ability. It also includes remuneration and succession planning. Recruitment is an ongoing commitment, with an emphasis on finding the right staff for the roles as they become more clearly defined. Staff are encouraged to take external examinations in related subjects. Whilst actively growing, we are still a small firm in terms of employees, but because of that are able to deal with items speedily.

Operational Risk
Operational Risk is the risk of loss as a result of inadequate or failed internal processes, people, systems, and/or external events across all areas, activities and operations of the firm. Processes are discussed in an open forum at least once a week by the parties involved to resolve any failings in the systems and build upon any successes. Staff are being recruited to ensure that this becomes even more readily changeable. Meetings are held with outside service providers to ensure that we stay up to speed with technological changes and can then be put forward for adoption if they show an advantage in making systems even more secure.

Regulatory Risk
Adverse impact resulting from failure to comply with changes in the law, financial accounting procedures or the rules mandated by the regulatory authorities. This is dealt with through our compliance consultants keeping us abreast of changes and strategies that we must adopt to deal with items.

SECTION 172(1) STATEMENT
Directors' statement of compliance with duty to promote the success of the Company

The Director of the Company, as those of all UK companies, must act in accordance with a set of general duties. These duties are detailed in section 172 of the UK Companies Act 2006 and include a duty to promote the success of the Company, which is summarised below.

The Director makes time regularly to undertake their duties and they can access professional advice on these through external parties or an independent provider. The Director fulfils their duties partly through a governance framework that delegates day-to-day decision making to employees of the Company.

The Board recognises that such delegation needs to extend beyond more than simple financial authorities, and therefore set out below we have summarised how the Director fulfils their on-going operational duties:

Our People
The company is committed to being a responsible business. Our behaviour is aligned with the expectations of our people, clients, shareholders, communities and society as a whole. For our business to succeed we need to manage our people's performance and develop and bring through talent while ensuring we operate as efficiently as possible. We must maintain common values that inform and guide our behaviour so we achieve our goals in the right way.

Business relationships
Our strategy prioritises organic growth. To achieve this we need to develop and maintain strong client relationships. We value all our clients and endeavour to act with integrity at all times. In line with our business culture we value our suppliers and endeavour to act with integrity at all times.

Community and environment
The Company's approach is to use our position of strength to create positive change for the people and communities with which we interact.


Alchemy Prime Limited (Registered number: 08698974)

Strategic Report
for the Year Ended 30 June 2024

KEY PERFORMANCE INDICATORS
The director considers that our key performance indicators are those that communicate the financial performance and strength of the Company as a whole.

2024 2023
Turnover £8,546,421 £5,511,100
Operating profit/(loss) £(£63,113) £(£278,885)

ON BEHALF OF THE BOARD:





P G Cann - Director


25 November 2024

Alchemy Prime Limited (Registered number: 08698974)

Report of the Director
for the Year Ended 30 June 2024

The director presents his report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of providing a website to facilitate FX & CFO trading. The Company is authorised and regulated by the Financial Conduct Authority (FCA) under registration number 612233.

DIVIDENDS
No dividends will be distributed for the year ended 30 June 2024.

FUTURE DEVELOPMENTS
The Company intends to continue acting as a provider of trading in FX derivatives and CFD's and related items and to continue to look for opportunities to further enhance trading methodologies and increase revenue. The Firm is developing an App to service direct equity trading on NYS, NASDAQ, LSE and ASX.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
P G Cann has held office during the whole of the period from 1 July 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mr N G Kundnani - resigned 31 July 2023

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Alchemy Prime Limited (Registered number: 08698974)

Report of the Director
for the Year Ended 30 June 2024


AUDITORS
The auditors, Ardor Business Solutions Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P G Cann - Director


25 November 2024

Report of the Independent Auditors to the Members of
Alchemy Prime Limited

Opinion
We have audited the financial statements of Alchemy Prime Limited (the 'company') for the year ended 30 June 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Alchemy Prime Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page six, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Alchemy Prime Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the Officers and other management (as required by auditing standards).

We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

With the exception of any known or possible non-compliance, and as required by auditing standards, our work in respect of these was limited to enquiry of the Officers.

We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Alchemy Prime Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr Bryan Michael Kemsley FCCA FMAAT (Senior Statutory Auditor)
for and on behalf of Ardor Business Solutions Limited
Statutory Auditors
Chartered Certified Accountants
Unit 1
Shrine Barn
Sandling Road
Hythe
Kent
CT21 4HE

25 November 2024

Alchemy Prime Limited (Registered number: 08698974)

Income Statement
for the Year Ended 30 June 2024

30/6/24 30/6/23
Notes £    £   

TURNOVER 8,546,421 5,511,100

Cost of sales 5,548,858 3,098,160
GROSS PROFIT 2,997,563 2,412,940

Administrative expenses 3,060,676 2,691,825
OPERATING LOSS 5 (63,113 ) (278,885 )

Interest receivable and similar income 186,000 3,054
122,887 (275,831 )
Gain/loss on revaluation of investments (11,525 ) -
111,362 (275,831 )

Interest payable and similar expenses 6 10,656 -
PROFIT/(LOSS) BEFORE TAXATION 100,706 (275,831 )

Tax on profit/(loss) 7 (3,586 ) (4,190 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

104,292

(271,641

)

Alchemy Prime Limited (Registered number: 08698974)

Other Comprehensive Income
for the Year Ended 30 June 2024

30/6/24 30/6/23
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 104,292 (271,641 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

104,292

(271,641

)

Alchemy Prime Limited (Registered number: 08698974)

Statement of Financial Position
30 June 2024

30/6/24 30/6/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 139,796 427

CURRENT ASSETS
Debtors 9 12,163,501 13,908,978
Investments 10 67,221 78,746
Cash at bank 1,393,465 1,391,601
13,624,187 15,379,325
CREDITORS
Amounts falling due within one year 11 12,783,266 14,529,773
NET CURRENT ASSETS 840,921 849,552
TOTAL ASSETS LESS CURRENT
LIABILITIES

980,717

849,979

CREDITORS
Amounts falling due after more than one
year

12

(30,032

)

-

PROVISIONS FOR LIABILITIES 14 - (3,586 )
NET ASSETS 950,685 846,393

CAPITAL AND RESERVES
Called up share capital 15 1,100,000 1,100,000
Retained earnings 16 (149,315 ) (253,607 )
SHAREHOLDERS' FUNDS 950,685 846,393

The financial statements were approved by the director and authorised for issue on 25 November 2024 and were signed by:





P G Cann - Director


Alchemy Prime Limited (Registered number: 08698974)

Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 1,100,000 18,034 1,118,034

Changes in equity
Total comprehensive income - (271,641 ) (271,641 )
Balance at 30 June 2023 1,100,000 (253,607 ) 846,393

Changes in equity
Total comprehensive income - 104,292 104,292
Balance at 30 June 2024 1,100,000 (149,315 ) 950,685

Alchemy Prime Limited (Registered number: 08698974)

Statement of Cash Flows
for the Year Ended 30 June 2024

30/6/24 30/6/23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (94,448 ) (2,475,599 )
Interest paid (1,036 ) -
Interest element of hire purchase
payments paid

(9,620

)

-
Net cash from operating activities (105,104 ) (2,475,599 )

Cash flows from investing activities
Purchase of tangible fixed assets (171,403 ) -
Interest received 186,000 3,054
Net cash from investing activities 14,597 3,054

Cash flows from financing activities
Capital repayments in year 92,371 -
Net cash from financing activities 92,371 -

Increase/(decrease) in cash and cash equivalents 1,864 (2,472,545 )
Cash and cash equivalents at
beginning of year

2

1,391,601

3,864,146

Cash and cash equivalents at end of
year

2

1,393,465

1,391,601

Alchemy Prime Limited (Registered number: 08698974)

Notes to the Statement of Cash Flows
for the Year Ended 30 June 2024

1. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

30/6/24 30/6/23
£    £   
Profit/(loss) before taxation 100,706 (275,831 )
Depreciation charges 32,036 17,117
Loss on revaluation of fixed assets 11,525 -
Amounts owed by groups - 2,679
Amounts owed by associates 4,581,354 (6,012,827 )
Amounts owed to groups (37,497 ) 255,638
Amounts owed to participating interests (245,000 ) (1,621,482 )
Finance costs 10,656 -
Finance income (186,000 ) (3,054 )
4,267,780 (7,637,760 )
(Increase)/decrease in trade and other debtors (2,835,878 ) 2,765,209
(Decrease)/increase in trade and other creditors (1,526,350 ) 2,396,952
Cash generated from operations (94,448 ) (2,475,599 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 June 2024
30/6/24 1/7/23
£    £   
Cash and cash equivalents 1,393,465 1,391,601
Year ended 30 June 2023
30/6/23 1/7/22
£    £   
Cash and cash equivalents 1,391,601 3,864,146


Alchemy Prime Limited (Registered number: 08698974)

Notes to the Statement of Cash Flows
for the Year Ended 30 June 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/7/23 Cash flow At 30/6/24
£    £    £   
Net cash
Cash at bank and in hand 1,391,601 1,864 1,393,465
1,391,601 1,864 1,393,465

Liquid resources
Current asset investments 78,746 (11,525 ) 67,221
78,746 (11,525 ) 67,221
Debt
Finance leases - (92,371 ) (92,371 )
- (92,371 ) (92,371 )
Total 1,470,347 (102,032 ) 1,368,315

Alchemy Prime Limited (Registered number: 08698974)

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

1. STATUTORY INFORMATION

Alchemy Prime Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Amounts are rounded to the nearest Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The Director has undertaken an assessment of whether the Company was a going concern when the accounts were prepared, considering all available information about the future including the current economic conditions, covering a period of 12 months from the date of the approval of the accounts. Following this review, the Director believes that the preparation of these financial statements on a going concern basis is appropriate.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In this regard, the Director believes that the critical accounting policies where judgments or estimations are necessarily applied are summarised below:

Deferred tax
Deferred tax assets are raised to the extent that it is probable that future taxable profit will be available against which the unused tax losses and unused tax credits can be utilised. Assessment of future taxable profit is performed at every reporting date, in the form of future cash flows using a suitable growth rate.

Turnover
Turnover represents the difference between the total value of profitable trades and the total value of loss making trades (including open market positions and net brokerage costs or gains to hedge), plus commissions, fees or rebates earnt and interest receivable on client's money by the company during the year.

All turnover is generated in the United Kingdom, but the Company's clients are based worldwide.

Alchemy Prime Limited (Registered number: 08698974)

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

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Office equipment - 20% on cost
Motor vehicles - 20% on reducing balance
Furniture and fixtures - 20% on cost

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.

Alchemy Prime Limited (Registered number: 08698974)

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

3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets measured at fair value through profit or loss £10,668,789 (2023: £7,931,026)

Financial assets measured at fair value through profit or loss comprise of broker debtors, current asset investments and loans receivable.

Financial liabilities being derivative financial instruments measured at fair value through profit or loss held as part of a trading portfolio £8,919,895 (2023: £12,768,877).

Financial liabilities measured at fair value through profit or loss comprise of client creditor balances.

Client bank accounts
The company operates designated client bank accounts in accordance with the Client Money regulations of the Financial Conduct Authority (FCA). These accounts do not represent funds of the company and so the deposits are not recognised in the company's statement of financial position.

As of the balance sheet date, the company held client funds of £914,890 (2023: £1,669,033).

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 statement of financial position date.


Alchemy Prime Limited (Registered number: 08698974)

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

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4. EMPLOYEES AND DIRECTORS
30/6/24 30/6/23
£    £   
Wages and salaries 843,468 250,601
Social security costs 80,806 45,602
Other pension costs 20,877 10,359
945,151 306,562

The average number of employees during the year was as follows:
30/6/24 30/6/23

Employees 15 10

30/6/24 30/6/23
£    £   
Directors' remuneration 68,720 50,393

Alchemy Prime Limited (Registered number: 08698974)

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

5. OPERATING LOSS

The operating loss is stated after charging/(crediting):

30/6/24 30/6/23
£    £   
Hire of plant and machinery 11,816 11,064
Other operating leases 168,634 24,200
Depreciation - owned assets 10,235 62,551
Depreciation - assets on hire purchase contracts 21,799 -
Auditors' remuneration 18,300 14,300
Auditors' remuneration for non audit work - 22,700
Foreign exchange differences (664,416 ) 12,390

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30/6/24 30/6/23
£    £   
Other interest charges 1,036 -
Hire purchase 9,620 -
10,656 -

7. TAXATION

Analysis of the tax credit
The tax credit on the profit for the year was as follows:
30/6/24 30/6/23
£    £   
Deferred tax (3,586 ) (4,190 )
Tax on profit/(loss) (3,586 ) (4,190 )

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

30/6/24 30/6/23
£    £   
Profit/(loss) before tax 100,706 (275,831 )
Profit/(loss) multiplied by the standard rate of corporation tax in the
UK of 25% (2023 - 26.059%)

25,177

(71,879

)

Effects of:
Expenses not deductible for tax purposes 3,163 7,451
Capital allowances in excess of depreciation (27,156 ) -
Depreciation in excess of capital allowances - 4,022
Changes in provisions leading to an increase (decrease) in the tax charge
(1,184

)

-
Unrelieved tax losses carried forward - 60,406
Deferred tax charges (3,586 ) (4,190 )
Total tax credit (3,586 ) (4,190 )

Alchemy Prime Limited (Registered number: 08698974)

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

8. TANGIBLE FIXED ASSETS
Improvements Furniture
to Office Motor and
property equipment vehicles fixtures Totals
£    £    £    £    £   
COST
At 1 July 2023 - 80,095 - - 80,095
Additions 30,745 3,884 108,995 27,779 171,403
Disposals - (76,021 ) - - (76,021 )
At 30 June 2024 30,745 7,958 108,995 27,779 175,477
DEPRECIATION
At 1 July 2023 - 79,668 - - 79,668
Charge for year 4,099 828 21,799 5,308 32,034
Eliminated on disposal - (76,021 ) - - (76,021 )
At 30 June 2024 4,099 4,475 21,799 5,308 35,681
NET BOOK VALUE
At 30 June 2024 26,646 3,483 87,196 22,471 139,796
At 30 June 2023 - 427 - - 427

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 108,995
At 30 June 2024 108,995
DEPRECIATION
Charge for year 21,799
At 30 June 2024 21,799
NET BOOK VALUE
At 30 June 2024 87,196

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade debtors 10,601,568 7,764,680
Amounts owed by associates 1,431,472 6,012,827
Other debtors 121,099 89,198
Prepayments 9,362 42,273
12,163,501 13,908,978

10. CURRENT ASSET INVESTMENTS

The valuation of unlisted investments as disclosed is made up of cost of £36 and fair value increases of £78,710.

Alchemy Prime Limited (Registered number: 08698974)

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

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Hire purchase contracts (see note 13) 62,339 -
Trade creditors 11,927,668 13,496,795
Amounts owed to group undertakings 218,142 255,638
Amounts owed to participating interests - 245,000
Social security and other taxes 31,574 4,582
Other creditors 111,951 153,805
Accruals and deferred income 431,592 373,953
12,783,266 14,529,773

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/24 30/6/23
£    £   
Hire purchase contracts (see note 13) 30,032 -

13. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30/6/24 30/6/23
£    £   
Net obligations repayable:
Within one year 62,339 -
Between one and five years 30,032 -
92,371 -

14. PROVISIONS FOR LIABILITIES
30/6/24 30/6/23
£    £   
Deferred tax - 3,586

Deferred
tax
£   
Balance at 1 July 2023 3,586
Credit to Income Statement during year (3,586 )
Balance at 30 June 2024 -

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/24 30/6/23
value: £    £   
1,100,000 Ordinary £1 1,100,000 1,100,000

Alchemy Prime Limited (Registered number: 08698974)

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

16. RESERVES
Retained
earnings
£   

At 1 July 2023 (253,607 )
Profit for the year 104,292
At 30 June 2024 (149,315 )

17. ULTIMATE PARENT COMPANY

From 29 July 2024 the Ultimate Parent Company is FDC Tech Inc (incorporated in United States of America ) is regarded by the director as being the company's ultimate parent company.

Prior to this date the Ultimate Parent Company was Apsi Holdings Limited, a Company incorporated in England & Wales.

18. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
30/6/24 30/6/23
£    £   
Amount due to related party 218,142 280,638

Key management personnel of the entity or its parent (in the aggregate)
30/6/24 30/6/23
£    £   
Purchases 1,768,134 1,386,220
Revenue generated by trading of companies owned by key
management personnel

1,801,145

11,926,894
Amount due from related party 379,764 6,038,049
Amount due to related party 9,299,836 20,957,130

19. POST BALANCE SHEET EVENTS

Please refer to the notes to these accounts regarding a change in the ultimate parent company on 29 July 2024.

20. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr G S Kundnani by virtue of his ownership of the share capital of FDC Tech Inc. from 29 July 2024, previously his holding in Apsi Holdings Limited.