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REGISTERED NUMBER: SC363782 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 August 2024

for

UNIFIED FX LIMITED

UNIFIED FX LIMITED (REGISTERED NUMBER: SC363782)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


UNIFIED FX LIMITED

Company Information
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: S Welsh
Mrs M Welsh





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC363782 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

UNIFIED FX LIMITED (REGISTERED NUMBER: SC363782)

Balance Sheet
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 3,708 4,020
Tangible assets 5 67,718 74,622
71,426 78,642

CURRENT ASSETS
Debtors 6 1,394,921 687,002
Cash at bank 349,022 604,578
1,743,943 1,291,580
CREDITORS
Amounts falling due within one year 7 413,675 203,567
NET CURRENT ASSETS 1,330,268 1,088,013
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,401,694

1,166,655

PROVISIONS FOR LIABILITIES 16,929 18,655
NET ASSETS 1,384,765 1,148,000

CAPITAL AND RESERVES
Called up share capital 12 12
Retained earnings 1,384,753 1,147,988
SHAREHOLDERS' FUNDS 1,384,765 1,148,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

UNIFIED FX LIMITED (REGISTERED NUMBER: SC363782)

Balance Sheet - continued
31 AUGUST 2024


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 1 May 2025 and were signed on its behalf by:





S Welsh - Director


UNIFIED FX LIMITED (REGISTERED NUMBER: SC363782)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Unified FX Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of twenty years.

Patents
Patents will be amortised over their expected useful life from the point that the product has been developed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on a reducing balance basis
Motor vehicles - 25% on a reducing balance basis
Computer equipment - 33.33% on a straight line basis

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.


UNIFIED FX LIMITED (REGISTERED NUMBER: SC363782)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2023
and 31 August 2024 6,243
AMORTISATION
At 1 September 2023 2,223
Charge for year 312
At 31 August 2024 2,535
NET BOOK VALUE
At 31 August 2024 3,708
At 31 August 2023 4,020

UNIFIED FX LIMITED (REGISTERED NUMBER: SC363782)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 7,154 67,870 97,074 172,098
Additions - - 28,079 28,079
At 31 August 2024 7,154 67,870 125,153 200,177
DEPRECIATION
At 1 September 2023 5,177 12,709 79,590 97,476
Charge for year 473 13,790 20,720 34,983
At 31 August 2024 5,650 26,499 100,310 132,459
NET BOOK VALUE
At 31 August 2024 1,504 41,371 24,843 67,718
At 31 August 2023 1,977 55,161 17,484 74,622

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 216,133 249,002
Other debtors 1,178,788 438,000
1,394,921 687,002

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 122,619 -
Trade creditors 47,258 43,565
Taxation and social security 226,792 143,330
Other creditors 17,006 16,672
413,675 203,567