Company Registration No. 13405280 (England and Wales)
E-Money Global Limited
Annual report and
group financial statements
for the year ended 31 December 2024
E-Money Global Limited
Company information
Directors
Jason Ferrando
Jocelyn Kennard
Mark De Candole
Company number
13405280
Registered office
5 Fleet Place
London
EC4M 7RD
Independent auditor
Saffery LLP
St Catherine's Court
Berkeley Place
Clifton
Bristol
BS8 1BQ
E-Money Global Limited
Contents
Page
Directors' report
1 - 2
Independent auditor's report
3 - 6
Group income statement
7
Group statement of financial position
8
Company statement of financial position
9
Notes to the financial statements
12 - 20
E-Money Global Limited
Directors' report
For the year ended 31 December 2024
1

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of a holding company. The principal activity of the group continued to be that of financial intermediary services.

Results and dividends

The results for the year are set out on page 7.

 

The directors recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Jason Ferrando
Jocelyn Kennard
Jamie Learmonth
(Resigned 3 January 2024)
Mark De Candole
Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

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

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

E-Money Global Limited
Directors' report (continued)
For the year ended 31 December 2024
2
On behalf of the board
Jocelyn Kennard
Director
7 April 2025
E-Money Global Limited
Independent auditor's report
To the members of E-Money Global Limited
3
Opinion

We have audited the financial statements of E-Money Global Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the group income statement, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity and notes to the financial statements, including 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:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 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 group's and parent 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.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report 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.

 

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.

E-Money Global Limited
Independent auditor's report (continued)
To the members of E-Money Global Limited
4

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are 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 directors determine is 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 directors are responsible for assessing the parent 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 directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor's 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.

E-Money Global Limited
Independent auditor's report (continued)
To the members of E-Money Global Limited
5

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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

 

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the group and parent company’s financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent company by discussions with directors and by updating our understanding of the sector in which the group and parent company operates.

 

Laws and regulations of direct significance in the context of the group and parent company include The Companies Act 2006, UK Tax legislation and The Financial Services and Markets Act 2000, on which The Financial Conduct Authority (FCA) Handbook is based..

 

Audit response to risks identified

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of group and parent company financial statement disclosures. We reviewed the parent company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

 

The group is regulated by the FCA. We discussed the group's authorisation and permitted activities with the CF10a and obtained evidence of this from the FCA register. We obtained additional evidence about compliance by reviewing the breaches registers that have to be maintained under the CASS handbook, correspondence with the FCA and the results of the testing of compliance with the FCA Client Asset “CASS” rules, which is a separate assurance assignment.

As group auditors, our assessment of matters relating to non-compliance with laws or regulations and fraud differed at group and component level according to their particular circumstances. Our communications included a request to identify instances of non-compliance with laws and regulations and fraud that could give rise to a material misstatement of the group financial statements in addition to our risk assessment.

 

There are inherent limitations in the audit procedures described above 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 would become aware of it. Also, 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 or intentional misrepresentations, or through collusion.

E-Money Global Limited
Independent auditor's report (continued)
To the members of E-Money Global Limited
6

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the parent 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 parent 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 parent company and the parent company's members as a body, for our audit work, for this report, or for the opinions we have formed.

 

Neil Davies (Senior Statutory Auditor)
For and on behalf of Saffery LLP
8 April 2025
Accountants
Statutory Auditors
St Catherine's Court
Berkeley Place
Clifton
Bristol
BS8 1BQ
E-Money Global Limited
Group income statement
For the year ended 31 December 2024
7
2024
2023
Notes
£
£
Turnover
7,363,470
6,037,908
Administrative expenses
(3,933,490)
(4,289,313)
Other operating income
238
50
Operating profit
3,430,218
1,748,645
Interest receivable and similar income
4
334,607
278,975
Interest payable and similar expenses
(507)
(25,362)
Profit before taxation
3,764,318
2,002,258
Tax on profit
(950,000)
(356,067)
Profit for the financial year
2,814,318
1,646,191
Profit for the financial year is all attributable to the owners of the parent company.
E-Money Global Limited
Group statement of financial position
As at 31 December 2024
8
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
5
-
-
Tangible assets
6
2,184
-
0
Current assets
Debtors
9
7,386,263
4,323,026
Cash at bank and in hand
794,134
663,724
8,180,397
4,986,750
Creditors: amounts falling due within one year
10
(1,636,608)
(1,415,140)
Net current assets
6,543,789
3,571,610
Total assets less current liabilities
6,545,973
3,571,610
Creditors: amounts falling due after more than one year
11
-
(14,955)
Provisions for liabilities
13
(200,000)
-
Net assets
6,345,973
3,556,655
Capital and reserves
Called up share capital
15
72,493
72,493
Share premium account
109,514
109,514
Other reserves
1,515,420
1,540,420
Profit and loss reserves
4,648,546
1,834,228
Total equity
6,345,973
3,556,655

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

The financial statements were approved by the board of directors and authorised for issue on 7 April 2025 and are signed on its behalf by:
07 April 2025
Jocelyn Kennard
Director
Company registration number 13405280 (England and Wales)
E-Money Global Limited
Company statement of financial position
As at 31 December 2024
31 December 2024
9
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
7
70,337
95,337
Current assets
Debtors
9
130,001
159,456
Cash at bank and in hand
15,821
6,992
145,822
166,448
Creditors: amounts falling due within one year
10
(16,288)
(11,888)
Net current assets
129,534
154,560
Net assets
199,871
249,897
Capital and reserves
Called up share capital
15
72,493
72,493
Share premium account
109,514
109,514
Other reserves
-
0
25,000
Profit and loss reserves
17,864
42,890
Total equity
199,871
249,897

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the year was £25,026 (2023 - £742,320 profit).

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

The financial statements were approved by the board of directors and authorised for issue on 7 April 2025 and are signed on its behalf by:
07 April 2025
Jocelyn Kennard
Director
Company registration number 13405280 (England and Wales)
E-Money Global Limited
Group statement of changes in equity
For the year ended 31 December 2024
10
Share capital
Share premium account
Share option reserve
Other reserves
Profit and loss reserves
Total
Notes
£
£
£
£
£
£
Balance at 1 January 2023
69,500
-
0
-
1,515,420
938,037
2,522,957
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
-
-
1,646,191
1,646,191
Issue of share capital
15
2,993
109,514
-
-
-
112,507
Dividends
-
-
-
-
(750,000)
(750,000)
Share option charge
-
-
25,000
-
-
25,000
Balance at 31 December 2023
72,493
109,514
25,000
1,515,420
1,834,228
3,556,655
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
-
-
2,814,318
2,814,318
Share option charge
-
-
(25,000)
-
-
(25,000)
Balance at 31 December 2024
72,493
109,514
-
1,515,420
4,648,546
6,345,973
E-Money Global Limited
Company statement of changes in equity
For the year ended 31 December 2024
11
Share capital
Share premium account
Share option reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 January 2023
69,500
-
0
-
50,570
120,070
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
-
742,320
742,320
Issue of share capital
15
2,993
109,514
-
-
112,507
Dividends
-
-
-
(750,000)
(750,000)
Share option charge
-
-
25,000
-
25,000
Balance at 31 December 2023
72,493
109,514
25,000
42,890
249,897
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
-
(25,026)
(25,026)
Share option charge
-
-
(25,000)
-
(25,000)
Balance at 31 December 2024
72,493
109,514
-
17,864
199,871
E-Money Global Limited
Notes to the group financial statements
For the year ended 31 December 2024
12
1
Accounting policies
Company information

E-Money Global Limited (“the company”) is a private company limited by shares incorporated in England and Wales. The registered office is 5 Fleet Place, London, EC4M 7RD.

 

The group consists of E-Money Global Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company E-Money Global Limited together with all entities controlled by the parent company (its subsidiaries).

 

All financial statements are made up to 31 December 2024.

 

All intra-group transactions and balances are eliminated on consolidation.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised on the difference between the interest rates offered to lenders and borrowers. Turnover is recognised at the fair value of the consideration received or receivable for services provided to customers for peer to peer lending.

Rendering of services

 

Revenue from peer to peer lending is recognised in the period in which the services are provided when all of the following conditions are satisfied:

E-Money Global Limited
Notes to the group financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
13
1.5
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.6
Intangible fixed assets other than goodwill

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a realisable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Website costs
33%
1.7
Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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:

Computer equipment
25%

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

1.8
Fixed asset investments

In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

E-Money Global Limited
Notes to the group financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
14
1.11
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's statement of financial position when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

E-Money Global Limited
Notes to the group financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
15
1.14
Provisions

Provisions are recognised when the group has a legal or constructive present obligation as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Deferral of revenue

Revenue is deferred based on the stage of completion of the loan contract. This resulting from a significant amount of work which is required at the end of a loan meaning that the stage of completion does not necessarily reflect the number of days interest accrued. This deferral element is based on a percentage of the loan book estimated by management as a fair reflection of the amount of work that is required at the end of each loan.

E-Money Global Limited
Notes to the group financial statements (continued)
For the year ended 31 December 2024
16
3
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Total
12
10
-
0
-
0
4
Interest receivable and similar income
2024
2023
£
£
Interest on bank deposits and platform loan
333,647
245,211
Other interest receivable and similar income
960
33,764
5
Intangible fixed assets
Group
Website costs
£
Cost
At 1 January 2024 and 31 December 2024
365,209
Amortisation and impairment
At 1 January 2024 and 31 December 2024
365,209
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
-
0
The company had no intangible fixed assets at 31 December 2024 or 31 December 2023.
E-Money Global Limited
Notes to the group financial statements (continued)
For the year ended 31 December 2024
17
6
Tangible fixed assets
Group
Plant and machinery etc
£
Cost
At 1 January 2024
-
0
Additions
2,645
At 31 December 2024
2,645
Depreciation and impairment
At 1 January 2024
-
0
Depreciation charged in the year
461
At 31 December 2024
461
Carrying amount
At 31 December 2024
2,184
At 31 December 2023
-
0
The company had no tangible fixed assets at 31 December 2024 or 31 December 2023.
7
Fixed asset investments
Group
Company
2024
2023
2024
2023
£
£
£
£
Shares in group undertakings and participating interests
-
-
70,337
95,337
-
0
-
0
70,337
95,337
E-Money Global Limited
Notes to the group financial statements (continued)
For the year ended 31 December 2024
7
Fixed asset investments (continued)
18
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024
95,337
Valuation changes
(25,000)
At 31 December 2024
70,337
Carrying amount
At 31 December 2024
70,337
At 31 December 2023
95,337
8
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
E-Money Capital Limited
168 Fulham Road, London, England, SW10 9PR
Ordinary
100.00
-
E-Money Digital Limited
5 Fleet Place, London, England, EC4M 7RD
Ordinary
100.00
-
E-Money Limited
5 Fleet Place, London, England, EC4M 7RD
Ordinary
-
100.00
EM113 Limited
The Old Chapel Church Street, Coggeshall, Colchester, Essex, England, CO6 1TX
Ordinary
-
100.00
E-Money Security Trustee Limited
The Old Chapel Church Street, Coggeshall, Colchester, England, CO6 1TX
Ordinary
-
100.00
9
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
5
5
-
0
-
0
Amounts owed by group
-
0
-
0
130,000
159,455
Other debtors
7,386,258
4,323,021
1
1
7,386,263
4,323,026
130,001
159,456
E-Money Global Limited
Notes to the group financial statements (continued)
For the year ended 31 December 2024
19
10
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
-
0
10,648
-
0
-
0
Trade creditors
39,940
92,333
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
838
838
Corporation tax payable
540,018
354,866
-
0
-
0
Other taxation and social security
63,412
151,138
-
0
-
0
Other creditors
993,238
806,155
15,450
11,050
1,636,608
1,415,140
16,288
11,888
11
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans and overdrafts
-
0
14,955
-
0
-
0
12
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
-
0
25,603
-
0
-
0
Payable within one year
-
10,648
-
-
Payable after one year
-
0
14,955
-
0
-
0
13
Provisions for liabilities
Group
Company
2024
2023
2024
2023
£
£
£
£
200,000
-
-
-

E-Money Capital recognised a provision due to a loan default requiring enforcement of the security. The provision reflects the estimated shortfall between the security value and the outstanding loan balance.

E-Money Global Limited
Notes to the group financial statements (continued)
For the year ended 31 December 2024
20
14
Deferred income
Group
Company
2024
2023
2024
2023
£
£
£
£
Other deferred income
890,000
675,000
-
-
15
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary voting shares of 10p each
205,880
205,880
20,588
20,588
A Ordinary shares of 10p each
490,000
490,000
49,000
49,000
B Ordinary shares of 0.1p each
10,750
10,750
11
11
Ordinary non voting shares of 10p each
28,940
28,940
2,894
2,894
735,570
735,570
72,493
72,493

The company has four classes of ordinary shares which the profits of the company available for distribution shall be distributed according to the number of shares held by each of them as if the same constituted a single class of shares.

 

The ordinary non-voting shares are the only share class whereby the holders are not entitled to vote at general meetings of the company.

16
Related party transactions
Transactions with related parties

During the year the group paid £710,000 (2023: £1,076,000) for services by related parties connected by virtue of directors in common.

 

 

17
Directors' transactions

In the year one director was advanced a loan of £344,193 (2023: £nil). There is a nil interest rate associated with this loan and it is repayable on demand.

18
Controlling party

The ultimate controlling party is M A V De Candole and J S Ferrando by virtue of their shareholding.

 

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