|
|
|
|
|
|
CEX.IO MARKETS UK LTD
|
|
|
|
|
|
Notes to the financial statements - continued
|
|
|
for the period ended 30 September 2024
|
|
|
|
|
|
|
2
|
Accounting policies - continued
|
|
|
|
|
|
|
|
Financial instruments
|
|
|
|
The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the Company becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements,
when there is a legally enforceable right to set off the recognised amounts and there is an intension to
settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate on
interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instruments is any contract that evidences a residual interest in
the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
|
|
|
|
|
|
|
|
Foreign currencies
|
|
|
|
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at
the balance sheet 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.
|
|
|
|
|
|
|
3
|
Average number of employees
|
|
|
|
|
|
|
|
During the period the average number of employees was Nil.
|
|
|
|
|
|
|
4
|
Share capital
|
|
|
|
|
|
|
|
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new
ordinary share or options are shown in equity as a deduction, net of tax, from the proceeds.
|
|
|
|
|
|
|
3
|