Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Katie Hyman 01/06/2021 Daniel Webber 05/09/2014 10 June 2025 The principal activity of the company during the financial year was that of a money transfer comparison website. 09205110 2024-12-31 09205110 bus:Director1 2024-12-31 09205110 bus:Director2 2024-12-31 09205110 core:CurrentFinancialInstruments 2024-12-31 09205110 core:CurrentFinancialInstruments 2023-12-31 09205110 2023-12-31 09205110 core:ShareCapital 2024-12-31 09205110 core:ShareCapital 2023-12-31 09205110 core:SharePremium 2024-12-31 09205110 core:SharePremium 2023-12-31 09205110 core:RetainedEarningsAccumulatedLosses 2024-12-31 09205110 core:RetainedEarningsAccumulatedLosses 2023-12-31 09205110 bus:OrdinaryShareClass1 2024-12-31 09205110 2024-01-01 2024-12-31 09205110 bus:FilletedAccounts 2024-01-01 2024-12-31 09205110 bus:SmallEntities 2024-01-01 2024-12-31 09205110 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 09205110 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09205110 bus:Director1 2024-01-01 2024-12-31 09205110 bus:Director2 2024-01-01 2024-12-31 09205110 2023-01-01 2023-12-31 09205110 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 09205110 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09205110 1 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09205110 (England and Wales)

FXC INTELLIGENCE LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

FXC INTELLIGENCE LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

FXC INTELLIGENCE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
FXC INTELLIGENCE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Current assets
Debtors 3 650,205 991,644
Cash at bank and in hand 4 121,442 45,189
771,647 1,036,833
Creditors: amounts falling due within one year 5 ( 352,777) ( 215,344)
Net current assets 418,870 821,489
Total assets less current liabilities 418,870 821,489
Net assets 418,870 821,489
Capital and reserves
Called-up share capital 6 390 390
Share premium account 1,439,642 1,439,642
Profit and loss account ( 1,021,162 ) ( 618,543 )
Total shareholder's funds 418,870 821,489

For the financial 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.

Directors' responsibilities:

The financial statements of FXC Intelligence Limited (registered number: 09205110) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Daniel Webber
Director

10 June 2025

FXC INTELLIGENCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
FXC INTELLIGENCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

FXC Intelligence Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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 of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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 intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 35 32

3. Debtors

2024 2023
£ £
Trade debtors 49,192 109,988
Amounts owed by group undertakings 582,145 588,053
Prepayments and accrued income 6,458 2,948
Corporation tax 0 281,267
Other debtors 12,410 9,388
650,205 991,644

4. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 121,442 45,189

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 11,846 10,589
Amounts owed to group undertakings 128,981 40,678
Accruals and deferred income 86,250 27,147
Other taxation and social security 107,404 98,047
Other creditors 18,296 38,883
352,777 215,344

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
390 A ordinary shares of £ 1.00 each 390 390

7. Events after the Balance Sheet date

On 20 March 2025, the company’s immediate parent, FXC (IP) Ltd, and its parent, FXC Group Ltd, entered members’ voluntary liquidation (MVL) as part of a group-wide restructuring to simplify the corporate structure.

Both entities were non-trading holding companies with no operational involvement in the company. The MVLs were solvent and undertaken to wind down dormant group entities.

The ultimate controlling party remains unchanged, and the liquidations had no impact on the company’s operations, financial position, or going concern assessment.

8. Ultimate controlling party

Parent Company:

FXC Group Inc, an entity incorporated in the USA.