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COMPANY REGISTRATION NUMBER: 13086794
FinTechAxis Limited
Filleted Unaudited Financial Statements
30 September 2024
FinTechAxis Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
170
170
Tangible assets
6
356
Investments
7
10,000
10,000
--------
--------
10,170
10,526
Current assets
Debtors
8
179,542
178,075
Cash at bank and in hand
5,701
26,778
---------
---------
185,243
204,853
Creditors: amounts falling due within one year
9
1,725
21,585
---------
---------
Net current assets
183,518
183,268
---------
---------
Total assets less current liabilities
193,688
193,794
---------
---------
Net assets
193,688
193,794
---------
---------
Capital and reserves
Called up share capital
10
2,547
2,547
Share premium account
245,149
245,149
Profit and loss account
( 54,008)
( 53,902)
---------
---------
Shareholders funds
193,688
193,794
---------
---------
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 .
FinTechAxis 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: 13086794
FinTechAxis 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 146 New London Road, Chelmsford, Essex, CM2 0AW.
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.
Going concern
The financial statements have been prepared on a going concern basis which is dependent on the continued support of the directors. The directors have indicated their willingness to support the company for the foreseeable future.
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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
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 4 (2023: 4 ).
5. Intangible assets
Patents, trademarks and licences
£
Cost
At 1 October 2023 and 30 September 2024
170
----
Amortisation
At 1 October 2023 and 30 September 2024
----
Carrying amount
At 30 September 2024
170
----
At 30 September 2023
170
----
6. Tangible assets
Equipment
£
Cost
At 1 October 2023 and 30 September 2024
1,165
-------
Depreciation
At 1 October 2023
809
Charge for the year
356
-------
At 30 September 2024
1,165
-------
Carrying amount
At 30 September 2024
-------
At 30 September 2023
356
-------
7. Investments
Other investments other than loans
£
Cost
At 1 October 2023 and 30 September 2024
10,000
--------
Impairment
At 1 October 2023 and 30 September 2024
--------
Carrying amount
At 30 September 2024
10,000
--------
At 30 September 2023
10,000
--------
8. Debtors
2024
2023
£
£
Amounts owed by group undertakings
179,103
177,600
Other debtors
439
475
---------
---------
179,542
178,075
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals
1,725
21,585
-------
--------
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary A shares of £ 1 each
2,447
2,447
2,447
2,447
Ordinary B shares of £ 1 each
100
100
100
100
-------
-------
-------
-------
2,547
2,547
2,547
2,547
-------
-------
-------
-------
11. Related party transactions
At the year end the company was owed £179,103 (2023 - £177,600) by a related party which is shown amongst debtors.
12. Controlling party
On 26 June 2023 the company became under the control of Fintech Connex Limited who now own 100% of the issued share capital. Fintech Connex Limited is a company registered in England and Wales.