PTP Accounts Production v24.1.0.578 05716065 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057160652023-09-30057160652024-09-30057160652023-10-012024-09-30057160652022-09-30057160652022-10-012023-09-30057160652023-09-3005716065ns15:EnglandWales2023-10-012024-09-3005716065ns14:PoundSterling2023-10-012024-09-3005716065ns10:Director12023-10-012024-09-3005716065ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3005716065ns10:SmallEntities2023-10-012024-09-3005716065ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3005716065ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3005716065ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3005716065ns10:FullAccounts2023-10-012024-09-300571606512023-10-012024-09-3005716065ns10:OrdinaryShareClass12023-10-012024-09-3005716065ns10:Director22023-10-012024-09-3005716065ns10:RegisteredOffice2023-10-012024-09-3005716065ns5:CurrentFinancialInstruments2024-09-3005716065ns5:CurrentFinancialInstruments2023-09-3005716065ns5:ShareCapital2024-09-3005716065ns5:ShareCapital2023-09-3005716065ns5:RetainedEarningsAccumulatedLosses2024-09-3005716065ns5:RetainedEarningsAccumulatedLosses2023-09-3005716065ns5:NetGoodwill2023-10-012024-09-3005716065ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-3005716065ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-10-012024-09-3005716065ns5:PlantMachinery2023-10-012024-09-3005716065ns5:NetGoodwill2023-09-3005716065ns5:IntangibleAssetsOtherThanGoodwill2023-09-3005716065ns5:NetGoodwill2024-09-3005716065ns5:IntangibleAssetsOtherThanGoodwill2024-09-3005716065ns5:NetGoodwill2023-09-3005716065ns5:IntangibleAssetsOtherThanGoodwill2023-09-3005716065ns5:PlantMachinery2023-09-3005716065ns5:PlantMachinery2024-09-3005716065ns5:PlantMachinery2023-09-3005716065ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-09-3005716065ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3005716065ns10:OrdinaryShareClass12024-09-30
REGISTERED NUMBER: 05716065 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Ariana Exchange Limited

Ariana Exchange Limited (Registered number: 05716065)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ariana Exchange Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Y Ahmad
M B Basharat





REGISTERED OFFICE: 136 The Broadway
Southall
Middlesex
UB1 1QN





REGISTERED NUMBER: 05716065 (England and Wales)





ACCOUNTANTS: Alis Accountants Limited
The Lansdowne Building
2 Lansdowne Road
Croydon
CR9 2ER

Ariana Exchange Limited (Registered number: 05716065)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 36,071 12,750
Tangible assets 6 3,088 4,118
39,159 16,868

CURRENT ASSETS
Debtors 7 300,304 431,975
Cash at bank and in hand 76,545 44,458
376,849 476,433
CREDITORS
Amounts falling due within one year 8 4,937 26,229
NET CURRENT ASSETS 371,912 450,204
TOTAL ASSETS LESS CURRENT
LIABILITIES

411,071

467,072

PROVISIONS FOR LIABILITIES 183 183
NET ASSETS 410,888 466,889

CAPITAL AND RESERVES
Called up share capital 9 8,100 8,100
Retained earnings 402,788 458,789
SHAREHOLDERS' FUNDS 410,888 466,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Ariana Exchange Limited (Registered number: 05716065)

Statement of Financial Position - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Financial Activities has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2025 and were signed on its behalf by:





Y Ahmad - Director


Ariana Exchange Limited (Registered number: 05716065)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Ariana Exchange Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

3. ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS102") and the requirements of the companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

Revenue recognition
Turnover represented by the net value of commission received from currency transactions undertaken by the company's foreign currency dealing business. The gross receipts for the year ended 30 September 2024 amounted to £3,238,650 (2023: £5,618,097).

Revenue Recognition is done at the point, when the transaction (Exchange or Transfer of Money) with the customer is completed in relation to the transfer or exchange of the currency. This triggers off immediately at that point and commission is recognised.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Ariana Exchange Limited (Registered number: 05716065)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Financial Activities, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Ariana Exchange Limited (Registered number: 05716065)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments
Classification
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.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Ariana Exchange Limited (Registered number: 05716065)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

Ariana Exchange Limited (Registered number: 05716065)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 October 2023 85,000 22,934 107,934
Additions - 27,571 27,571
Disposals - (22,934 ) (22,934 )
At 30 September 2024 85,000 27,571 112,571
AMORTISATION
At 1 October 2023 72,250 22,934 95,184
Charge for year 4,250 - 4,250
Eliminated on disposal - (22,934 ) (22,934 )
At 30 September 2024 76,500 - 76,500
NET BOOK VALUE
At 30 September 2024 8,500 27,571 36,071
At 30 September 2023 12,750 - 12,750

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 19,350
DEPRECIATION
At 1 October 2023 15,232
Charge for year 1,030
At 30 September 2024 16,262
NET BOOK VALUE
At 30 September 2024 3,088
At 30 September 2023 4,118

Ariana Exchange Limited (Registered number: 05716065)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 254,828 426,975
Directors' current accounts 29,036 -
Prepayments 16,440 5,000
300,304 431,975

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Tax - 3,301
Social security and other taxes 1,552 116
Other creditors 118 679
Net wages 3,267 4,427
Directors' current accounts - 9,006
Accrued expenses - 8,700
4,937 26,229

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
8,100 Ordinary £1 8,100 8,100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, Included in the other debtors is an amount of £29,035 (2023- other creditors:£9,006) due to the director, Mr Y Ahmad.