IRIS Accounts Production v24.3.2.46 14278308 Board of Directors 1.7.23 30.6.24 30.6.24 7.3.25 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh142783082023-06-30142783082024-06-30142783082023-07-012024-06-30142783082022-08-04142783082022-08-052023-06-30142783082023-06-3014278308ns15:EnglandWales2023-07-012024-06-3014278308ns14:PoundSterling2023-07-012024-06-3014278308ns10:Director12023-07-012024-06-3014278308ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3014278308ns10:SmallEntities2023-07-012024-06-3014278308ns10:Audited2023-07-012024-06-3014278308ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3014278308ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3014278308ns10:FullAccounts2023-07-012024-06-3014278308ns10:EntityHasNeverTraded2023-07-012024-06-3014278308ns10:Director22023-07-012024-06-3014278308ns10:Director32023-07-012024-06-3014278308ns10:RegisteredOffice2023-07-012024-06-3014278308ns5:CurrentFinancialInstruments2024-06-3014278308ns5:CurrentFinancialInstruments2023-06-3014278308ns5:ShareCapital2024-06-3014278308ns5:ShareCapital2023-06-3014278308ns5:RetainedEarningsAccumulatedLosses2024-06-3014278308ns5:RetainedEarningsAccumulatedLosses2023-06-3014278308ns5:PlantMachinery2023-07-012024-06-3014278308ns5:PlantMachinery2023-06-3014278308ns5:PlantMachinery2024-06-3014278308ns5:PlantMachinery2023-06-3014278308ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3014278308ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-30
REGISTERED NUMBER: 14278308 (England and Wales)















Financial Statements

for the Year Ended 30 June 2024

for

First Digital Trust (UK) Ltd

First Digital Trust (UK) Ltd (Registered number: 14278308)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


First Digital Trust (UK) Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: G Jaerv
M A A Osman
J A Thompson





REGISTERED OFFICE: 19 Leyden Street
London
E1 7LE





REGISTERED NUMBER: 14278308 (England and Wales)





AUDITORS: Turner & Co
Registered Auditors
Chartered Accountants
10a White Hart Parade
London Road
Blackwater
Camberley
Surrey
GU17 9AD

First Digital Trust (UK) Ltd (Registered number: 14278308)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,030 329

CURRENT ASSETS
Debtors 5 505,433 6,356
Cash at bank 8,088 13,304
513,521 19,660
CREDITORS
Amounts falling due within one year 6 3,175 3,771
NET CURRENT ASSETS 510,346 15,889
TOTAL ASSETS LESS CURRENT
LIABILITIES

515,376

16,218

CAPITAL AND RESERVES
Called up share capital 520,000 20,000
Retained earnings (4,624 ) (3,782 )
515,376 16,218

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2025 and were signed on its behalf by:





J A Thompson - Director


First Digital Trust (UK) Ltd (Registered number: 14278308)

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

1. STATUTORY INFORMATION

First Digital Trust (UK) Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

First Digital Trust (UK) Ltd (Registered number: 14278308)

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

2. ACCOUNTING POLICIES - continued

Management fees receivable
Management fees are received from the company's holding company to support the company whilst it establishes it's presence in the UK. The basis of the charge is cost plus 5%.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 395
Additions 4,935
At 30 June 2024 5,330
DEPRECIATION
At 1 July 2023 66
Charge for year 234
At 30 June 2024 300
NET BOOK VALUE
At 30 June 2024 5,030
At 30 June 2023 329

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.6.24 30.6.23
£    £   
Trade debtors 1,563 2,630
Other debtors 503,870 3,726
505,433 6,356

First Digital Trust (UK) Ltd (Registered number: 14278308)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.6.24 30.6.23
£    £   
Trade creditors 1,375 1,971
Other creditors 1,800 1,800
3,175 3,771

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Margaret Turner (Senior Statutory Auditor)
for and on behalf of Turner & Co

8. RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of First Digital Group Limited, a company incorporated in Gibraltar.

The amount due to First Digital Trust Ltd at 30 June 2024 amounted to £8,088.

The company received £18,365 management fees from First Digital Trust Ltd, a fellow subsidiary company based in Hong Kong, during the period.