CHOICE FOREX LIMITED

Company Registration Number:
05680687 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2024

Period of accounts

Start date: 01 July 2023

End date: 30 June 2024

CHOICE FOREX LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Balance sheet
Notes

CHOICE FOREX LIMITED

Balance sheet

As at 30 June 2024


Notes

2024

2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 233,098 266,398
Tangible assets:   0 0
Investments: 4 825,097 76,400
Total fixed assets: 1,058,195 342,798
Current assets
Stocks: 0 0
Debtors: 5 25,040,919 2,267,270
Cash at bank and in hand: 5,430,917 5,912,491
Investments:   0 0
Total current assets: 30,471,836 8,179,761
Creditors: amounts falling due within one year: 6 (31,233,283) (7,978,859)
Net current assets (liabilities): (761,447) 200,902
Total assets less current liabilities: 296,748 543,700
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Total net assets (liabilities): 296,748 543,700
Capital and reserves
Called up share capital: 210,000 210,000
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 86,748 333,700
Shareholders funds: 296,748 543,700

The notes form part of these financial statements

CHOICE FOREX LIMITED

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 April 2025
and signed on behalf of the board by:

Name: Nicholas Ian Bridges
Status: Director

The notes form part of these financial statements

CHOICE FOREX LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

CHOICE FOREX LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

2. Employees

2024 2023
Average number of employees during the period 3 3

CHOICE FOREX LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Intangible Assets

Total
Cost £
At 01 July 2023 332,998
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 30 June 2024 332,998
Amortisation
At 01 July 2023 66,600
Charge for year 33,300
On disposals 0
Other adjustments 0
At 30 June 2024 99,900
Net book value
At 30 June 2024 233,098
At 30 June 2023 266,398

CHOICE FOREX LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Fixed investments

Fixed asset investments include: 100% of Choice International (Mauritius) Limited (registered in Mauritius) - £805,796 100% of Clarency Nigeria Limited (registered in Nigeria) - £19,300

CHOICE FOREX LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Debtors

2024 2023
££
Debtors due after more than one year: 260,000 260,000

CHOICE FOREX LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Creditors: amounts falling due within one year note

Payments received on account 3,055,044 (2023: 2,886,996) Trade creditors 3,443 (2023: 52,244) Amounts owed to group undertakings 16,412,120 (2023: 5,020,319) Corporation tax NIL (2023: NIL) Other creditors 11,762,676 (2023: 19,300)

CHOICE FOREX LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

7. Related party transactions

Name of the related party: International Compliance Solutions Limited and Mukhtara Compliance
Relationship:
Director
Description of the Transaction: Alejandro Bustos Baez is a Director of both Choice Forex Limited and International Compliance Solutions Limited and Mukhtara Compliance. During the year, fees of £75,678 (2023: £33,155) were paid to these companies in respect of Alejandro's services as a non-executive director to the Company. At the year end the company owed £Nil (2023: £Nil) to this entity.
£
Balance at 01 July 2023 0
Balance at 30 June 2024 0
Name of the related party: Nicholas Ian Bridges
Relationship:
Director
Description of the Transaction: During the year, fees of £49,846 (2023: £47,712) were recharged from other group companies to Choice Forex Limited, with regards to Nicholas Bridges’ directors fees.
£
Balance at 01 July 2023 0
Balance at 30 June 2024 0

CHOICE FOREX LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

8. Post balance sheet events

On 23 September 2024, through the the mutual decision of the directors of Choice Forex Limited, and the directors of its ultimate parent company, Choice International Limited, the company reduced its third party client base as part of ongoing operational restructuring activities. The directors believe that the accounts are presented fairly and that the company can continue to operate as a going concern for the foreseeable future.