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COMPANY REGISTRATION NUMBER: 10752535
EC MARKETS CAPITAL LTD
Filleted Unaudited Financial Statements
31 May 2024
EC MARKETS CAPITAL LTD
Financial Statements
Year ended 31 May 2024
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
EC MARKETS CAPITAL LTD
Officers and Professional Advisers
Director
Mr X LYU
Registered office
3rd Floor
30 City Road
London
England
EC1Y 2AY
Accountant
PS Book-Keeping & Accountancy
Mr P Skamballis
Unit 1, Grange Way Business Park
Grange Way
Colchester
Essex
CO2 8HF
EC MARKETS CAPITAL LTD
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Current assets
Debtors
6
15,900
16,000
Cash at bank and in hand
100
100
--------
--------
16,000
16,100
Creditors: amounts falling due within one year
7
21
26
--------
--------
Net current assets
15,979
16,074
--------
--------
Total assets less current liabilities
15,979
16,074
Creditors: amounts falling due after more than one year
8
443,949
443,949
---------
---------
Net liabilities
( 427,970)
( 427,875)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 428,070)
( 427,975)
---------
---------
Shareholders deficit
( 427,970)
( 427,875)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
EC MARKETS CAPITAL LTD
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 29 May 2025 , and are signed on behalf of the board by:
Mr X LYU
Director
Company registration number: 10752535
EC MARKETS CAPITAL LTD
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3rd Floor, 30 City Road, London, EC1Y 2AY, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Change of business name
EC Markets Capital Ltd was previously known as New Tick Limited.
4. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
6. Debtors
2024
2023
£
£
Other debtors
15,900
16,000
--------
--------
Other debtors: Rent deposits, Loans given.
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
21
26
----
----
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
443,949
443,949
---------
---------
Other creditors: Non Bank Loans
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward and outstanding
2024
2023
£
£
Mr X LYU
( 95)
( 95)
----
----
10. Related party transactions
The company is under the control of the managing director Mr Xiaoliang LYU throughout the current and previous year. The major shareholder and the ultimate controlling party of the company is EC Markets Global Limited. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.