| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| FOR |
| FX CAPITAL MA LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| FOR |
| FX CAPITAL MA LIMITED |
| FX CAPITAL MA LIMITED (REGISTERED NUMBER: 09760868) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| FX CAPITAL MA LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Suite 3, Steeple House |
| Church Lane |
| Chelmsford |
| Essex |
| CM1 1NH |
| FX CAPITAL MA LIMITED (REGISTERED NUMBER: 09760868) |
| BALANCE SHEET |
| 31 DECEMBER 2023 |
| 31/12/23 | 31/12/22 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| FX CAPITAL MA LIMITED (REGISTERED NUMBER: 09760868) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| 1. | STATUTORY INFORMATION |
| FX Capital MA Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| The preparation of financial statements requires management to make judgements, estimates and assumptions that effect the amounts reported for assets and liability as at the Statement of Financial Position date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. On this background, the directors consider there to be no judgements made that have a material effect on the balances held at the Statement of Financial Position date. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Rendering of services |
| Revenue from contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
| • | the amount of revenue can be measured reliably; |
| • | it is probable that the Company will receive the consideration due under the contract; |
| • | the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
| • | the costs incurred and the costs to complete the contract can be measured reliably |
| Financial instruments |
| The Company only enters into basic financial instrument 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 related parties and investments in non-putative ordinary shares. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
| FX CAPITAL MA LIMITED (REGISTERED NUMBER: 09760868) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| Going concern |
| The company has reported an operating loss (after tax) for the year of £93,870 (2022: £91,616). There is also a net liabilities position on the balance sheet amounting to £732,226 (2022: £638,356) |
| These financial circumstances cast doubt upon the company's ability to continue as a going concern. Considering the continued support of the director and ultimate group owner and the support of other connected and group entities, the director is satisfied that the company has adequate financial resources to continue as a going concern.If support were withdrawn, it is unlikely that the company would continue as a Going Concern. |
| 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. |
| Debtors |
| Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortized cost using the effective interest method, less any impairment. |
| Cash and cash equivalents |
| Cash in represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that readily convertible to known amounts of cash with insignificant risk of change in value. |
| Creditors |
| Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2022 - NIL). |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/23 | 31/12/22 |
| £ | £ |
| Amounts owed by group undertakings |
| FX CAPITAL MA LIMITED (REGISTERED NUMBER: 09760868) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/23 | 31/12/22 |
| £ | £ |
| Amounts owed to group undertakings |
| Other creditors |
| 6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was qualified on the following basis: |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| for and on behalf of |
| We draw attention to Note 2 in the financial statements, which indicates that the company incurred a net loss of £91,616 during the year ended 31 December 2022 and, as of that date, the company’s current liabilities exceeded its total assets by £638,456. |
| As stated in Note 2 these events or conditions, along with other matters as set forth in Note 2, indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter. |
| FX CAPITAL MA LIMITED (REGISTERED NUMBER: 09760868) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2023 |
| 7. | RELATED PARTY DISCLOSURES |
| The company is a 100% owned subsidiary of Knowledge to Action (Holdings) Limited, a company registered in England and Wales. In addition the company is related to the following fellow subsidiaries: |
| Live Trading Floor Limited (registered in England and Wales) |
| Investment Marketing Solutions Limited (registered in England and Wales) |
| Learn to Trade Pty Limited (formerly Knowledge to Action Pty Limited, registered in Australia) |
| Learn to Trade Limited (registered in England and Wales) |
| FX Capital MA Limited (registered in England and Wales) |
| In addition to the above, the director of the company G Secker was a related party to the company. |
| Learn to Trade Pty Limited (registered in South Africa) is a company under common control. |
| The Greg Secker Foundation (formerly The Knowledge to Action Foundation, registered in England and Wales), K2AF Trading Limited (registered in England and Wales), Learn to Trade International Holdings (registered in Cyprus) and Smart Charts (Malta) were all under the common control of G Secker. |
| Global Success Summits Limited (registered in England and Wales), EMC Events (registered in England and Wales), and Learn to Trade Limited were both under common ownership and control of G Secker. Learn Trading LLP (registered in England and Wales) is under common ownership and control of G Secker, and Knowledge to Action Ltd is a corporate member of the LLP. |
| Included in debtors are the following balances that are owed from related parties. |
| 2023 | 2022 |
| £ | £ |
| Knowledge to Action (Holdings) Limited | 100 | 100 |
| 100 | 100 |
| Included in creditors is the following balance owed by the company to the related party. |
| 2023 | 2022 |
| £ | £ |
| Knowledge to Action Limited | 727,545 | 633,675 |
| 727,545 | 633,675 |
| During the year, Danoline Ltd, which is 100% owned by the D J Beckerleg, invoiced FX Capital MA Limited £74,092 for consultancy services. |
| Consolidated accounts have been prepared by the parent company, Knowledge to Action (Holdings) Limited. Registered office - Suite 3, Steeple House, Church Lane, Chelmsford, CM1 1NH.. |