Registered number:
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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ONE GLOBAL MARKET LIMITED
COMPANY INFORMATION
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ONE GLOBAL MARKET LIMITED
CONTENTS
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ONE GLOBAL MARKET LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The principal activity of One Global Market Limited (OGM) is to act as an agency broker for customers who wish to trade OTC financial instruments, CFD via an API or an online platform.
The Company is authorised and regulated by the UK’s Financial Conduct Authority as a €125,000 firm in October of 2017.
PRINCIPAL ACTIVITIES
The principal activities of the Company in the year under review were those of providing online foreign exchange (“FX"), contract for differences (”CFDs") trading and related services to retail and professional clients globally. The profit or loss for the Company is dependent on the trading volume of its clients.
As an agency broker, OGM’s business model remains focused on driving client trading volumes, which directly correlate with company revenues. OGM continues to derive revenue from three primary sources:
1. Spread mark-up; 2. Commissions; 3. Swap premiums In 2024, OGM remained profitable despite global conflicts impacting the UBO’s ability to capitalize as planned. This financial stability ensures continued reinvestment into core business areas and strategic growth initiatives. OGM made significant advancements in 2024, including the transition to technologies and platforms to align with consumer familiarity, a new banking relationship that offers enhanced fund protection along with a private banker to expedite wire transfers for faster client fund access, OGM increased its liquidity position in 2024, and finally, OGM continues with a refined focus on high-net-worth individuals, targeting seasoned traders with prior market experience and an average account size of $50,000 or more. With a continued focus on technological enhancements, financial stability, and a refined client acquisition strategy, OGM is well-positioned for sustained growth and long-term success.
As a service provider the directors consider that the key financial risk exposure faced by the company relates to counterparty credit risk and the need to maintain sufficient liquidity to satisfy regulatory capital requirements and working capital needs. OGM does not trade on a principle basis and thus is not directly exposed to market risk nor does it have a material exposure to foreign exchange movements.
OGM’s financial risk management objectives are therefore to minimise the key financial risks through having clearly defined terms of business with counterparties and stringent credit and market risk controls over transactions with them, and regular monitoring of cash flow and management accounts to ensure regulatory capital requirements are not breached and the company maintains adequate working capital. The principal non-financial risks faced by OGM relate to IT failure. This is mitigated by having appropriate backup systems and procedure and disaster recovery plans. The company currently maintains two different setups on the Meta manager with two regulated LPs that adhere to the best execution requirement.
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ONE GLOBAL MARKET LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The company trade with both clients and liquidity providers as part of the service offering it is exposed to foreign exchange risk mainly from transaction involving more than 2 currencies. Where transactions are traded in one currency (Euro client involving Euro liabilities or US Dollar client involving US Dollar Liabilities) the exchange risk is restricted only to the income valuation. As such, foreign currency exchange risk arises from future commercial transactions and the net exposure between recognized assets and assessed liabilities.
We consider that our key performance indicators are those that communicate the financial performance and strength of the company, being turnover and net profit/loss. These are the key performance indicators that are most effective in assessing the progress against our objectives and strategy and measure the performance of the entity. The entity adopts having full and direct engagement process between management and team and between the team and OGM’s clients. This engagement develops and strengthens the quality of the performance that will be working directly in leading OGM toward reaching it desired revenue growth. The entity focuses on its Revenue growth strategies that are monitored closely to guarantee that it is done successfully.
Section 172 requires a Director to have regard, among other matters, to: the likely consequences of any decision in the long term; the need to foster the company’s business relationships with suppliers, customers and others; the impact of the company’s operations on the community and the environment; the desirability of the company maintaining a reputation for high standards of business conduct; and the need to act fairly with members of the Company.
The Directors of the One Global Market Limited acknowledge their duty to promote the success of the company for the benefit of shareholder, having regard to a number of broader matters including the likely consequences of decisions for the long term and the company’s wider relationships including the regulator, the financial institutions it cooperates with. This is to ensure that any engagement with the Company’s stakeholders is considered effective and will contribute in a sustainable way to the Company's long- term strategy. The means of communication to the stakeholder include but are not limited to regular updates, communication and disclosures through the official website of the Company. The Board is always alert in identifying and resolving any issues that might arise with customers, or any other stakeholder and receives regular updates to ensure that these issues will not negatively impact the Company. The directors determine OGM’s business strategy and risk appetite along with designing and implementing a risk management framework that recognises the risks that the business faces. They also determine how those risks may be mitigated and asses on an on-going basis the arrangements to manage profitability and regulatory capital management, business planning and risk management. The directors manage OGM’s risks through a framework of policies and procedures having regards to the relevant laws, standards, principles and rules (including FCA principles and rules) with the aim to operate a defined and transparent risk management framework. These policies and procedures are updated as required. The company follows the standardised approach to market risk and simplified standard approach of credit risk.
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ONE GLOBAL MARKET LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
This report was approved by the board on 20 January 2025 and signed on its behalf.
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ONE GLOBAL MARKET LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors present their report and the financial statements for the year ended 30 September 2024.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements 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 directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.
The profit for the year, after taxation, amounted to £41,273 (2023 - £147,813).
The directors who served during the year were:
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ONE GLOBAL MARKET LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The auditors, Calders (1883) LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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ONE GLOBAL MARKET LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ONE GLOBAL MARKET LIMITED
We have audited the financial statements of One Global Market Limited (the 'Company') for the year ended 30 September 2024, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of cash flows, the Statement of changes in equity and the related notes, 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).
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 United Kingdom, including the Financial Reporting Council'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.
In auditing the financial statements, we have concluded that the directors' 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 directors with respect to going concern are described in the relevant sections of this report.
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ONE GLOBAL MARKET LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ONE GLOBAL MARKET LIMITED (CONTINUED)
The other information comprises the information included in the annual report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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 Directors' report.
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ONE GLOBAL MARKET LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ONE GLOBAL MARKET LIMITED (CONTINUED)
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 an Auditors' report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity. The following laws and regulations were identified as being of significance to the entity: • Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pensions legislation, and distributable profits legislation. • Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the company and therefore may have a material effect on the financial statements include compliance with the Financial Services and Markets Act 2000 and the FCA Handbook. Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud. No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK)
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 Auditors' report.
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ONE GLOBAL MARKET LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ONE GLOBAL MARKET LIMITED (CONTINUED)
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 an Auditors' report 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.
for and on behalf of
Chartered Accountants
and Statutory Auditors
30 Orange Street
WC2H 7HF
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ONE GLOBAL MARKET LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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ONE GLOBAL MARKET LIMITED
REGISTERED NUMBER: 10396402
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 15 to 22 form part of these financial statements.
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ONE GLOBAL MARKET LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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ONE GLOBAL MARKET LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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ONE GLOBAL MARKET LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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ONE GLOBAL MARKET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
One Global Market Limited is a private company, limited by shares, incorporated in England and Wales, registration number 10396402. The registered office is Third Floor, Kingsbourne House, 229-231 High Holborn, London, WC1V 7DA.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The ultimate controlling party is willing to support the company to meet its financial obligations as they fall due for a period of at least 12 months from the date of approval of the financial statements. On this basis, the directors are satisified that these financial statements can be prepared on the going concern basis.
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ONE GLOBAL MARKET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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ONE GLOBAL MARKET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
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:
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.
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ONE GLOBAL MARKET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Deferred tax asset Management is required to assess whether it is appropriate to recognise a deferred tax asset relating to taxable losses available to the company. The recognition of deferred tax assets is based upon whether it is more likely than not that sufficient and suitable taxable profits will be available in the future against which the reversal of losses and other deductions can be deducted.
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ONE GLOBAL MARKET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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ONE GLOBAL MARKET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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ONE GLOBAL MARKET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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ONE GLOBAL MARKET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The immediate and ultimate parent company at 30 September 2024 was Efinn Global Limited, a company incorporated in the United Kingdom. Efinn Global Limited, by virtue of its shareholding, exercises control over the company, holding more than 50% of the total voting rights. As such, it is considered the controlling partty as defined by relevant accounting and financial reporting standards.
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