CREDORAX HOLDINGS UK LIMITED
Director: Taylor Lauber
Registered Office: Suite 19.03 & 19.04 Heron Tower
110 Bishopsgate
EC2N 4AY
Registered No: 08460966 (England & Wales)
Financial statements
For the year ended 31 December 2024
page
Statement of financial position 1
Notes to the financial statements 2-3
CREDORAX HOLDINGS UK LIMITED
Statement of financial position as at 31 December 2024
31.12.2024 31.12.2023
Notes £ £ £
Fixed asset investment 5 0 0
Current assets
Creditors: amounts falling due
within one year 6 (11,032) (11,032)
Net current liabilities (11,032) (11,032)
Total net assets £ (11,032) £ (11,032)
Capital and deficit
31.12.2024 31.12.2023
£ £ £
Share capital 7 1 1
Profit and loss account (11,033) (11,033)
Capital and deficit £ (11,032) £ (11,032)
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 for the preparation of accounts.
The financial statements have been prepared in accordance with special provision of Part 15 of the Companies Act 2006 relating to small companies and with the provisions of FRS 102 Section 1A Small Entities.
Taylor Lauber
Director 27 May 2025
CREDORAX HOLDINGS UK LIMITED
Notes to the financial statements - 31 December 2024
COMPANY INFORMATION
1. Company Information
Credorax Holdings UK Limited is a private limited company incorporated and domiciled in the UK. The address of its registered office is 19.03 &19.04 Heron Tower, 100 Bishopsgate, EC2N 4AY.
The company is a wholly owned subsidiary of Credorax Inc., a company registered in the USA.
2. Statement of Compliance
The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A small entities and the Companies Act 2006.
3. Accounting Policies
Basis of accounting
The financial statements have been prepared on a going concern basis, under historical cost convention.
The financial statements are presented in Pound Sterling (£).
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Financial instruments
The company has chosen to adapt the sections 11 & 12 of FRS 102 in respect of financial instruments:
(i) Financial assets
Basic financial assets including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at present value of the future receipts discounted at the market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method and are assess for objective evidence of impairment at the end of each reporting period.
(ii) Financial liabilities
Basic financial liabilities including trade and other payable are initially recognised at transaction price unless arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts discounted at a market value of interest debt instruments are subsequently carried at amortised costs using the effective interest rate method.
Group Accounts
The company and its subsidiary comprise a small size group and therefore has taken
the advantages of the exemptions provided by section 398 of the Companies Act 2006 not
to prepare group accounts.
Going concern
The company is a holding company that does not have any activities.
The parent company will continue to support the company and guarantees to meet all its future liabilities.
Based on the above the director is in the view that the financial statements can be prepared on a going concern basis.
Investment in subsidiary company:
Investment in subsidiary company is presented at cost less accumulated impairment loss.
At each balance sheet date, the investment is assessed whether there is an indication that the
assets may be impaired, and if so, an impairment test is carried out to verify if impairment
losses are arisen.
CREDORAX HOLDINGS UK LIMITED
Notes to the financial statements - 31 December 2024
4. Employees
2024 2023
Number of employees 0 0
5. Fixed asset investment
The investment in subsidiary company represents the whole share capital of Credorax
Japan K.K., a trading company incorporated in Japan.
The original investment cost of £2,168,751 was fully impaired in previous years.
6. Creditors: amounts falling due
within one year
31.12.2024 31.12.2023
£ £
Parent company 11,032 11,032
Accruals - -
11,032 11,032
7. Share capital
31.12.2024 31.12.2023
£ £
Allotted, called up and fully paid:
100 ordinary shares of £0.01 each 1 1
8. Related party transactions
Control:
The immediate parent company is Credorax Inc., a private company registered in Malta.
The ultimate parent company is Shift 4 Payment Inc, a US public company.
Transaction:
The company is exempt from disclosing transactions with related parties that are wholly owned within the same group in accordance with FRS 102 Section 33(1)A.
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