Company Registration No. 14904987 (England and Wales)
MARKETS GROUP LTD
Unaudited accounts
for the year ended 31 December 2024
MARKETS GROUP LTD
Unaudited accounts
Contents
MARKETS GROUP LTD
Company Information
for the year ended 31 December 2024
Directors
Adam James Raleigh
Tayyab Abbasi
Company Number
14904987 (England and Wales)
Registered Office
3RD FLOOR OFFICE
207 REGENT STREET
LONDON
W1B 3HH
ENGLAND
Accountants
Sleek Accounting Ltd
4th Floor
205 Regent Street
London
W1B 4HB
MARKETS GROUP LTD
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
197,955
247,090
Creditors: amounts falling due within one year
(563,340)
(946,081)
Net current assets/(liabilities)
505,319
(454,929)
Total assets less current liabilities
510,033
(454,929)
Creditors: amounts falling due after more than one year
(2,079,366)
-
Net liabilities
(1,569,333)
(454,929)
Called up share capital
100
100
Profit and loss account
(1,569,433)
(455,029)
Shareholders' funds
(1,569,333)
(454,929)
For the year ending 31 December 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 May 2025 and were signed on its behalf by
Tayyab Abbasi
Director
Company Registration No. 14904987
MARKETS GROUP LTD
Notes to the Accounts
for the year ended 31 December 2024
MARKETS GROUP LTD is a private company, limited by shares, registered in England and Wales, registration number 14904987. The registered office is 3RD FLOOR OFFICE, 207 REGENT STREET, LONDON, W1B 3HH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
At the time of approving the financial statements, the directors have a reasonable expectation that the company 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3yr Straight Line
MARKETS GROUP LTD
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
272,788
130,357
Deferred tax asset
515,115
106,735
Accrued income and prepayments
79,742
6,870
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
82,596
961
Taxes and social security
70,914
58,394
Other creditors
9,113
660,431
Deferred income
352,488
189,761
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
2,079,366
-
8
Transactions with related parties
Included within other creditors are the following related party transactions:-
There is an amount owed to Markets Group PTE, a company based in Singapore under common control. The amount owed totalled £650,000.
There is an amount owed to Market Group US LLC, a company based in America under common control. The amount owed totalled £4,366.
MARKETS GROUP LTD
Notes to the Accounts
for the year ended 31 December 2024
9
Average number of employees
During the year the average number of employees was 14 (2023: 14).