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REGISTERED NUMBER: 11557885 (England and Wales)








Strategic Report,

Report of the Directors and

Audited Financial Statements

for the Period

1 March 2024 to 31 December 2024

for

Emerald Financial Group (UK) Ltd

Emerald Financial Group (UK) Ltd (Registered number: 11557885)






Contents of the Financial Statements
for the Period 1 March 2024 to 31 December 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


Emerald Financial Group (UK) Ltd

Company Information
for the Period 1 March 2024 to 31 December 2024







DIRECTORS: Ms L Kozlova
O Kravcenko





REGISTERED OFFICE: 1 Temple Avenue
London
EC4Y 0HA





REGISTERED NUMBER: 11557885 (England and Wales)





AUDITORS: Nicklin Audit Limited
Chartered Accountants
Statutory Auditors
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Strategic Report
for the Period 1 March 2024 to 31 December 2024

The directors present their strategic report for the period 1 March 2024 to 31 December 2024.

REVIEW OF BUSINESS
Electronic Money Institutions (EMIs) are changing the way financial services work by using technology to offer faster, more flexible payment solutions. They connect traditional banking with the digital world, making it easier for businesses and individuals to manage money.

Over the past year, the financial sector has continued to change quickly. This has been driven by more people using digital payments, new rules to protect consumers, and improvements in technology such as open banking, cross-border payments, and AI. At the same time, companies are focusing more on user-friendly services and stronger cybersecurity.

Aligned with these market dynamics, Emerald remains focused on delivering robust, scalable, and secure payment solutions tailored to the needs of corporate clients. Throughout the year, we continued to enhance the functionality and convenience of our payment platform, expanding its features and optimising our infrastructure to support faster and more efficient transactions.

Emerald supports payments through multiple channels, including Faster Payments, CHAPS, BACS, SEPA, and international SWIFT transfers. During the 2024 financial year, we continued introducing additional payment rails and opened several new safeguarding accounts to strengthen the secure and diversified holding of customer funds.

In 2024, a major milestone was achieved with the establishment and regulatory authorisation of our new branch in DIFC (Dubai, UAE) by the Dubai Financial Services Authority (DFSA). This expansion enhances our international footprint and supports our ambition to serve clients across multiple jurisdictions with locally compliant, high-quality services.

As part of our brand evolution, we introduced a new company logo in 2024. This updated visual identity reflects our growth, innovation, and forward-looking approach. The refreshed branding is designed to keep our clients engaged, support clearer communication, and ensure our image remains modern and relevant in a modern fast-moving environment. It also helps reinforce trust and recognition as we expand our services in new markets.

Looking ahead, our strategic priorities for the coming financial year include:

- Expanding our team by attracting brightest talents in customer engagement and product development.
- Further developing technical solutions to support both clients and internal operations.
- Establishing new relationships with payment partners to enable faster, more secure transactions.
- Enhancing internal control system to ensure continued compliance with evolving regulatory frameworks.

The Directors of Emerald confirm the successful achievement of most of the operational and financial objectives set for the previous financial year, laying a solid foundation for continued growth.


FINANCIAL PERFORMANCE AND KPIs
The management of the company sets and regularly reviews business specific KPIs. Below are general KPIs reached in 2024:
- Sales £3,770,632
- Profit £789,421


Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Strategic Report
for the Period 1 March 2024 to 31 December 2024

PRINCIPAL RISKS AND UNCERTAINTIES
To support efficient operations and the achievement of business objectives, the company has established a comprehensive internal control system for risk management. Its key aim is the early identification of risks, followed by the development and implementation of appropriate mitigation strategies. The company's management recognises the following risk categories as posing the most significant uncertainty to its business.

Regulatory Compliance, Money Laundering and Terrorism Financing Risks
Emerald operates within a highly regulated and fast-evolving financial environment. Regulatory frameworks such as GDPR, PSD2, and successive AML Directives continue to develop, adding both complexity and opportunity. The business is inherently exposed to risks linked to non-compliance with these laws and regulations, as well as to potential misuse of its services for money laundering or terrorist financing.
To manage these risks, the company's dedicated compliance function monitors regulatory developments closely and ensures that all policies, procedures, and systems are updated accordingly.

Sanctions Risk
Given our engagement with clients involved in international trade, Emerald remains attentive to both national and international sanctions regimes. Controls are in place to screen clients before onboarding and throughout the lifecycle of the relationship. These controls are deeply embedded into customer due diligence and payment processing workflows to manage exposure to sanctions-related risks.

Geopolitical and International Trade Risk
Increasing geopolitical tensions, trade disputes, and policy unpredictability across key markets have created heightened uncertainty for cross-border financial services. As an institution servicing internationally active clients, Emerald may be indirectly impacted by trade restrictions, tariffs, and shifting regulatory environments. These dynamics may influence transaction volumes, delay settlement flows, or increase operational complexity.
Emerald is strengthening its scenario planning and monitoring mechanisms to stay informed about international developments. We continue to assess exposure to these risks and adapt our client engagement and risk management strategies accordingly.

Risks Associated with Outsourced Services
The company depends on third-party partners for essential services such as payment processing, safeguarding of funds, customer identification, and AML checks.
To manage this, Emerald carries out thorough due diligence before entering into partnerships and regularly assesses the performance and financial health of these providers. A contingency plan is in place to ensure service continuity in the event of a failure by a critical vendor.

Security Risk
Information security and data protection remain top priorities. Emerald has implemented a robust information security framework, including regular cybersecurity training for employees, system stress testing, and audits. These measures help safeguard client information and ensure resilience against cyber threats.

Operational Risk
This includes risks stemming from internal system failures, human error, or external disruptions. Emerald mitigates these risks through process standardisation, automation, and regular internal reviews. The company has also embedded pandemic-related contingency measures into its broader operational risk framework to ensure preparedness for similar future events.

Liquidity Risk
Liquidity risk refers to the possibility of the company being unable to meet its financial obligations on time. Emerald addresses this through active balance sheet management, including regular cash flow forecasting, liquidity planning, and stress testing under various scenarios.

Credit Risk
The risk that a counterparty fails to meet its financial obligations. Emerald works primarily with counterparties of high credit standing and carries out regular assessments of their financial and reputational status.

Currency Exchange Risk
Given our exposure to multiple currencies, fluctuations in exchange rates pose a potential risk. Emerald mitigates this through the use of multi-currency accounts and by continuously monitoring exchange rate trends to reduce volatility in its operations.

ON BEHALF OF THE BOARD:


Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Strategic Report
for the Period 1 March 2024 to 31 December 2024





O Kravcenko - Director


22 May 2025

Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Report of the Directors
for the Period 1 March 2024 to 31 December 2024

The directors present their report with the financial statements of the company for the period 1 March 2024 to 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of the provision of a full service payment platform.

DIVIDENDS
An interim dividend of 2.10 per share was paid on 9 July 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the period ended 31 December 2024 will be £ 1,008,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2024 to the date of this report.

Ms L Kozlova
O Kravcenko

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
-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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





O Kravcenko - Director


22 May 2025

Report of the Independent Auditors to the Members of
Emerald Financial Group (UK) Ltd

Opinion
We have audited the financial statements of Emerald Financial Group (UK) Ltd (the 'company') for the period ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 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 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 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 in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors 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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Emerald Financial Group (UK) Ltd


Matters on which we are required to report by exception
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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, 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 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess risks of material misstatement of the financial statements, whether due to fraud and error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry, control environment and business performance;
- results of our enquiries of management about their own identification and assessment of the risks of irregularities;
- any matters we have identified having reviewed the company's procedures for complying with laws and regulations and whether they were aware of any instances of non-compliance. The key laws and regulations we considered in this context included the Companies Act 2006 and the Financial Services Act 2013.

As a result of these procedures we considered the opportunities that may exist within the organisation for fraud resulting in material misstatement in the financial statements. We considered that any such opportunities are mitigated by the fact that the company is under the close control of its directors.
Our procedures to arrive at this conclusion included the following:

- reviewing balance sheet control accounts to ensure properly reconciled;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- enquiring with management concerning actual and potential litigation claims.

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 Report of the Auditors.

Report of the Independent Auditors to the Members of
Emerald Financial Group (UK) Ltd


Use of our report
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 a Report of the Auditors 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.




Mark Howell FCA (Senior Statutory Auditor)
for and on behalf of Nicklin Audit Limited
Chartered Accountants
Statutory Auditors
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

22 May 2025

Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Statement of Comprehensive Income
for the Period 1 March 2024 to 31 December 2024

Period
1.3.24
to Year Ended
31.12.24 29.2.24
as restated
Notes £    £   

TURNOVER 3,770,632 4,184,748

Cost of sales 2,173,428 1,836,214
GROSS PROFIT 1,597,204 2,348,534

Administrative expenses 1,472,003 1,201,872
OPERATING PROFIT 4 125,201 1,146,662

Interest receivable and similar income 898,381 492,789
1,023,582 1,639,451

Interest payable and similar expenses 5 - 4,294
PROFIT BEFORE TAXATION 1,023,582 1,635,157

Tax on profit 6 234,161 422,352
PROFIT FOR THE FINANCIAL PERIOD 789,421 1,212,805

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD

789,421

1,212,805
Prior year adjustment 8 (89,664 )
TOTAL COMPREHENSIVE INCOME SINCE
LAST ANNUAL REPORT

699,757

Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Balance Sheet
31 December 2024

2024 2024
as restated
Notes £    £    £   
FIXED ASSETS
Tangible assets 9 6,729 6,397

CURRENT ASSETS
Debtors 10 276,240 176,752
Cash at bank 2,821,587 3,103,247
3,097,827 3,279,999
CREDITORS
Amounts falling due within one year 11 707,425 655,173
NET CURRENT ASSETS 2,390,402 2,624,826
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,397,131

2,631,223

CREDITORS
Amounts falling due after more than one year 12 (78,351 ) (93,947 )

PROVISIONS FOR LIABILITIES 15 (1,682 ) (1,599 )
NET ASSETS 2,317,098 2,535,677

CAPITAL AND RESERVES
Called up share capital 16 480,000 480,000
Retained earnings 17 1,837,098 2,055,677
SHAREHOLDERS' FUNDS 2,317,098 2,535,677

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:





O Kravcenko - Director


Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Statement of Changes in Equity
for the Period 1 March 2024 to 31 December 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 March 2023 480,000 1,850,872 2,330,872

Changes in equity
Dividends - (1,008,000 ) (1,008,000 )
Total comprehensive income - 1,302,469 1,302,469
Balance at 29 February 2024 480,000 2,145,341 2,625,341
Prior year adjustment - (89,664 ) (89,664 )
As restated 480,000 2,055,677 2,535,677

Changes in equity
Dividends - (1,008,000 ) (1,008,000 )
Total comprehensive income - 789,421 789,421
Balance at 31 December 2024 480,000 1,837,098 2,317,098

Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Cash Flow Statement
for the Period 1 March 2024 to 31 December 2024

Period
1.3.24
to Year Ended
31.12.24 29.2.24
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 165,489 1,222,887
Interest paid - (4,294 )
Tax paid (334,602 ) (499,785 )
Net cash from operating activities (169,113 ) 718,808

Cash flows from investing activities
Purchase of tangible fixed assets (2,938 ) (6,552 )
Interest received 898,380 492,789
Net cash from investing activities 895,442 486,237

Cash flows from financing activities
Loan repayments in year - (52,448 )
Amount introduced by directors 11 -
Forex movements on subordinate loans - 670
Equity dividends paid (1,008,000 ) (1,008,000 )
Net cash from financing activities (1,007,989 ) (1,059,778 )

(Decrease)/increase in cash and cash equivalents (281,660 ) 145,267
Cash and cash equivalents at beginning
of period

2

3,103,247

2,957,980

Cash and cash equivalents at end of
period

2

2,821,587

3,103,247

Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Notes to the Cash Flow Statement
for the Period 1 March 2024 to 31 December 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period
1.3.24
to Year Ended
31.12.24 29.2.24
as restated
£    £   
Profit before taxation 1,023,582 1,635,157
Depreciation charges 2,607 1,458
Finance costs - 4,294
Finance income (898,381 ) (492,789 )
127,808 1,148,120
Increase in trade and other debtors (99,488 ) (115,234 )
Increase in trade and other creditors 137,169 190,001
Cash generated from operations 165,489 1,222,887

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 December 2024
31.12.24 1.3.24
£    £   
Cash and cash equivalents 2,821,587 3,103,247
Year ended 29 February 2024
29.2.24 1.3.23
as restated
£    £   
Cash and cash equivalents 3,103,247 2,957,980


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.3.24 Cash flow At 31.12.24
£    £    £   
Net cash
Cash at bank 3,103,247 (281,660 ) 2,821,587
3,103,247 (281,660 ) 2,821,587
Debt
Debts falling due within 1 year - (15,596 ) (15,596 )
Debts falling due after 1 year (93,947 ) 15,596 (78,351 )
(93,947 ) - (93,947 )
Total 3,009,300 (281,660 ) 2,727,640

Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Notes to the Financial Statements
for the Period 1 March 2024 to 31 December 2024

1. STATUTORY INFORMATION

Emerald Financial Group (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.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires the directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results in the future could differ from those estimates. In this regard, the directors believe that there are no critical accounting policies where judgements or estimations are necessarily applied in the financial statements.

Turnover
Turnover from the sale of services is recognised according to the date the service is provided and at the point the amount of revenue can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.


Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Notes to the Financial Statements - continued
for the Period 1 March 2024 to 31 December 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
Period
1.3.24
to Year Ended
31.12.24 29.2.24
as restated
£    £   
Wages and salaries 468,215 418,097
Social security costs 23,854 29,111
Other pension costs 325 382
492,394 447,590

The average number of employees during the period was as follows:
Period
1.3.24
to Year Ended
31.12.24 29.2.24
as restated

Employees including the directors 13 11

Period
1.3.24
to Year Ended
31.12.24 29.2.24
as restated
£    £   
Directors' remuneration 158,333 150,197

Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Notes to the Financial Statements - continued
for the Period 1 March 2024 to 31 December 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.3.24
to Year Ended
31.12.24 29.2.24
as restated
£    £   
Depreciation - owned assets 2,606 1,458
Auditors' remuneration 16,000 15,500
Foreign exchange differences 120,646 99,010

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.3.24
to Year Ended
31.12.24 29.2.24
as restated
£    £   
Subordinate loan interest - 4,294

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
Period
1.3.24
to Year Ended
31.12.24 29.2.24
as restated
£    £   
Current tax:
UK corporation tax 233,853 421,000
Taxation earlier years 225 -
Total current tax 234,078 421,000

Deferred tax 83 1,352
Tax on profit 234,161 422,352

UK corporation tax was charged at 25%) in 2024.

Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Notes to the Financial Statements - continued
for the Period 1 March 2024 to 31 December 2024

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is lower than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.3.24
to Year Ended
31.12.24 29.2.24
as restated
£    £   
Profit before tax 1,023,582 1,635,157
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2024 - 25%)

255,896

408,789

Effects of:
Capital allowances in excess of depreciation - (58 )
Adjustments to tax charge in respect of previous periods 225 -
Charge in tax rate 456 (8,795 )
Effect of PYA (22,416 ) 22,416
Total tax charge 234,161 422,352

7. DIVIDENDS
Period
1.3.24
to Year Ended
31.12.24 29.2.24
as restated
£    £   
Ordinary shares of £1 each
Interim 1,008,000 1,008,000

8. PRIOR YEAR ADJUSTMENT

During the period, the directors identified that a VAT liability of £89,664 related to the year ended 29 February 2024 had not been recognised in the financial statements for the year. This omission has been corrected in the current year through a prior year adjustment.

The adjustment has resulted in a reduction to the retained earnings as at 1 March 2024, and a corresponding increase in liabilities. There has been no impact on the profit or loss for the period ended 31 December 2024.

Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Notes to the Financial Statements - continued
for the Period 1 March 2024 to 31 December 2024

9. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2024 11,647
Additions 2,938
At 31 December 2024 14,585
DEPRECIATION
At 1 March 2024 5,250
Charge for period 2,606
At 31 December 2024 7,856
NET BOOK VALUE
At 31 December 2024 6,729
At 29 February 2024 6,397

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
as restated
£    £   
Trade debtors 165 9,847
Other debtors 164,847 120,918
Prepayments 111,228 45,987
276,240 176,752

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
as restated
£    £   
Other loans (see note 13) 15,596 -
Trade creditors 58,750 17,548
Tax 124,478 225,002
Social security and other taxes 104,814 100,466
Other creditors 284,697 221,470
Directors' loan accounts 149 138
Accrued expenses 118,941 90,549
707,425 655,173

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2024
as restated
£    £   
Other loans (see note 13) 78,351 93,947

Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Notes to the Financial Statements - continued
for the Period 1 March 2024 to 31 December 2024

13. LOANS

An analysis of the maturity of loans is given below:

2024 2024
as restated
£    £   
Amounts falling due within one year or on demand:
Subordinate loans 15,596 -

Amounts falling due between two and five years:
Subordinate loans 78,351 93,947

The subordinate loans are interest free and are repayable between 2025 and 2026.

14. FINANCIAL INSTRUMENTS

Financial assets
2024 2023
£ £

Financial assets measured at fair value through profit and loss 3,103,247 2,957,980
Financial assets that are debt instruments measured at amortised cost 166,153 61,519
3,269,400 3,019,499

Financial liabilities 2024 2023
£ £
Financial liabilities measured at amortised cost (644,407 ) (689,682 )

Financial assets measured at fair value through profit and loss comprise of cash at bank.
Financial assets that are debt instruments measured at amortised cost comprise of trade debtors, other debtors and prepayments.

Financial liabilities measured at amortised cost comprise of other loans, trade creditors, other creditors, social security and other taxes and accruals.

15. PROVISIONS FOR LIABILITIES
2024 2024
as restated
£    £   
Deferred tax
Accelerated capital allowances 1,682 1,599

Deferred
tax
£   
Balance at 1 March 2024 1,599
Provided during period 83
Balance at 31 December 2024 1,682

Emerald Financial Group (UK) Ltd (Registered number: 11557885)

Notes to the Financial Statements - continued
for the Period 1 March 2024 to 31 December 2024

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2024
value: as restated
£    £   
480,000 Ordinary £1 480,000 480,000

17. RESERVES
Retained
earnings
£   

At 1 March 2024 2,145,341
Prior year adjustment (89,664 )
2,055,677
Profit for the period 789,421
Dividends (1,008,000 )
At 31 December 2024 1,837,098

18. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
2024 2024
as restated
£    £   
Amount due to related parties 93,947 93,947

This relates to subordinate loans included in creditors due after more than one year.

Companies with a common director
2024 2024
as restated
£    £   
Services provided by companies with a common director - 1,040

Entities under common control
2024 2024
as restated
£    £   
Services provided by entities under common control 1,465,711 1,225,065
Amount due to related parties 148,838 117,720

During the period, a total of key management personnel compensation of £ 194,693 (2024 - £ 180,037 ) was paid.