Company No:
Contents
| DIRECTORS | Mr A J G Matchett |
| Ms A C Ward |
| REGISTERED OFFICE | 2nd Floor 105-107 Farringdon Road |
| London | |
| EC1R 3BU | |
| United Kingdom |
| COMPANY NUMBER | 11450692 (England and Wales) |
| ACCOUNTANT | Shaw Gibbs Limited |
| 2nd Floor | |
| 201 Great Portland Street | |
| Marylebone | |
| London | |
| W1W 5AB | |
| United Kingdom |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 4 |
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| 1,077,095 | 1,077,095 | |||
| Current assets | ||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| 59,659 | 1,660 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current liabilities | (850,711) | (848,306) | ||
| Total assets less current liabilities | 226,384 | 228,789 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 7 |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Financial Edge Holding Co Limited (registered number:
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Mr A J G Matchett
Director |
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.
Financial Edge Holding Co 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 2nd Floor 105-107 Farringdon Road, London, England, EC1R 3BU
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (FRS 102") and the requirements of the Companies Act 2006.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Exchange differences are recognised in the Profit and Loss Account 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.
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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 company’s contractual obligations expire or are discharged or cancelled.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Amounts recognised as distributions to equity holders in the financial year: | |||
| Final paid | 162,414 | 1,122,414 | |
| 2024 | 2023 | ||
| £ | £ | ||
| Subsidiary undertakings |
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Investments in subsidiaries
| 2024 | |
| £ | |
| Cost | |
| At 01 January 2024 |
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| At 31 December 2024 |
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| Carrying value at 31 December 2024 |
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| Carrying value at 31 December 2023 |
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Investments in shares
| Name of entity | Registered office | Class of shares |
Ownership 31.12.2024 |
Ownership 31.12.2023 |
Held |
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UK |
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Direct |
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UK |
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Direct |
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USA |
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Direct |
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Hong Kong |
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Direct |
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Singapore |
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Direct |
| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed by related parties |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
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| Amounts owed to Group undertakings |
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| Amounts owed to directors |
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| Dividends payable |
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| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with owners holding a participating interest in the entity
| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed by a participating interest | 58,559 | 58,559 | |
| Amounts owed to a participating interest | (166,228) | 166,278 |
Transactions with entities in which the entity itself has a participating interest
| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed to a company in which Financial Edge Holding Ltd has a participating interest | (407,532) | 628 |
In accordance with FRS 102 paragraph 33.1A, the exemption has been taken from disclosing transactions and balances with its wholly-owned subsidiaries.