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COMPANY REGISTRATION NUMBER: 12885589
Fintech Connex Limited
Filleted Unaudited Financial Statements
30 September 2024
Fintech Connex Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
577
Investments
6
680,013
590,431
---------
---------
680,013
591,008
Current assets
Debtors
7
86
12,478
Cash at bank and in hand
136,842
237,232
---------
---------
136,928
249,710
Creditors: amounts falling due within one year
8
253,844
286,833
---------
---------
Net current liabilities
116,916
37,123
---------
---------
Total assets less current liabilities
563,097
553,885
---------
---------
Net assets
563,097
553,885
---------
---------
Capital and reserves
Called up share capital
9
1,816
1,816
Share premium account
663,108
663,108
Capital redemption reserve
63
63
Profit and loss account
( 101,890)
( 111,102)
---------
---------
Shareholders funds
563,097
553,885
---------
---------
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 comprehensive income has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Fintech Connex Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 5 June 2025 , and are signed on behalf of the board by:
M C Neall
Director
Company registration number: 12885589
Fintech Connex Limited
Notes to the Financial Statements
Year ended 30 September 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 International House, 6 South Molton Street, London, W1K 5QF.
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. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Equipment
£
Cost
At 1 October 2023 and 30 September 2024
4,021
-------
Depreciation
At 1 October 2023
3,444
Charge for the year
577
-------
At 30 September 2024
4,021
-------
Carrying amount
At 30 September 2024
-------
At 30 September 2023
577
-------
6. Investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost
At 1 October 2023
390,431
200,000
590,431
Additions
89,582
89,582
---------
---------
---------
At 30 September 2024
390,431
289,582
680,013
---------
---------
---------
Impairment
At 1 October 2023 and 30 September 2024
---------
---------
---------
Carrying amount
At 30 September 2024
390,431
289,582
680,013
---------
---------
---------
At 30 September 2023
390,431
200,000
590,431
---------
---------
---------
7. Debtors
2024
2023
£
£
Other debtors
86
12,478
----
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
179,103
177,600
Accruals and deferred income
3,300
3,877
Social security and other taxes
461
Director loan accounts
70,980
105,356
---------
---------
253,844
286,833
---------
---------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary £1 A shares of £ 1 each
1,727
1,727
1,727
1,727
Ordinary £1 C shares of £ 1 each
89
89
89
89
-------
-------
-------
-------
1,816
1,816
1,816
1,816
-------
-------
-------
-------
10. Related party transactions
At the year end the company owed its directors £70,980 (2023 - £105,356) which is shown amongst creditors. At the year end the company owed a related party £179,103 (2023 - £177,600) which is shown amongst creditors.