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Registered number: 09493910









GLOBAL MARKETS GROUP LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

 
GLOBAL MARKETS GROUP LIMITED
 
 
COMPANY INFORMATION


Directors
R Donoghue 
P M Zachariades (resigned 11 June 2024)
C Vasiadou 
K K Pourgalis 




Registered number
09493910



Registered office
Green Park House
15 Stratton Street

London

W1J 8LQ




Independent auditors
Calders (1883) LLP
Chartered Accountants & and Statutory Auditors

30 Orange Street

London

WC2H 7HF





 
GLOBAL MARKETS GROUP LIMITED
 

CONTENTS



Page
Strategic report
 
 
1 - 4
Directors' report
 
 
5 - 6
Independent auditors' report
 
 
7 - 11
Statement of income and retained earnings
 
 
12
Statement of financial position
 
 
13
Statement of changes in equity
 
 
14 - 15
Statement of cash flows
 
 
16
Notes to the financial statements
 
 
17 - 23


 
GLOBAL MARKETS GROUP LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025

Introduction
 
The directors present their strategic report for the year ended 31 March 2025.

Business review
 
Global Markets Group Limited ("the Company") is a private limited Firm incorporated in England and Wales with Firm Registration Number 09493910. It is authorised and regulated by the Financial Conduct Authority ("FCA") as a UK Investment Firm for the conduct of investment and ancillary services and activities under the provisions of the Financial Services and Markets Act 2000 and the Financial Services Act 2021, as subsequently amended or replaced from time to time, and the FCA Rules (Firm Reference Number 744501).
During the financial year in review, the Firm was acting as a principal broker with a matched principal limitation along with an authorisation to hold client money, providing execution-only services operating through the Meta Trader 5 (MT5) platform and accepting orders from clients trading in financial contracts for differences (“CFDs”) based on Forex, Commodities, Indices and Futures. The Firm applied to the FCA on 3 March 2025 for the removal of the match principal limitation, and was granted approval on 2 July 2025.
The Company is focused on offering investment services to retail and professional clients through a “Business-to-Consumer” (“B2C”) business segment representing online trading. Clients have direct access and control on the Firm’s trading platform, which is made available through the web page of the Firm (www.gmgmarkets.co.uk ), using the trading platform to submit their orders with the Firm as well as monitor their open positions. The quoted prices are offered through the trading platform, connected directly to the Liquidity Provider’s feed aggregators. 
The Company acts as the execution venue for client orders, utilising pricing from three FCA-regulated Liquidity Providers, chosen for best execution on an arms-length basis, where the terms coincide with standard industry practices and provisions; it maintains direct feed connections to liquidity aggregators, offering competitive bid/ask spreads.
During the financial year under review, the Company’s efforts to expand its operations produced tangible results, evidenced by steady operational growth. Targeted marketing initiatives to promote the GMG brand contributed to increased visibility and client engagement. With the recent removal of the matched principal limitation, the Company is well-positioned to strengthen client outreach and drive further growth in trading volumes. In line with its latest regulatory business plan, the Company remains on course to achieve sustainable and realistic profitability over a three-year horizon.
The Company’s source of revenue will continue to be derived through the bid/ask spread, trading commission and overnight financing fees, as well as additional revenue generated from market making activities from July 2025 onwards.
The Firm’s own funds and liquid assets as at 31 March 2025 remained stable at £2.209 million and £1.075 million, respectively—both exceeding the applicable regulatory capital and liquid asset requirements.

Page 1

 
GLOBAL MARKETS GROUP LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

Principal risks and uncertainties
 
In the ordinary course of business, the Company is exposed to a range of risks, threats, and uncertainties. The Company’s Senior Management actively identifies, assesses, mitigates, and monitors these risks through established methodologies and risk management tools. These include incident tracking, key risk indicators, business continuity planning, staff training, and awareness initiatives.
Key areas of risk identified as particularly material to the Company’s operations include:
Regulatory Compliance Risk
As an FCA-authorised and regulated firm, the Company is exposed to the risk of financial loss or reputational damage resulting from non-compliance with applicable regulations. Changes to the regulatory framework or supervisory expectations could materially impact the Company. Mitigation measures include a dedicated Compliance Function, use of external legal and regulatory advisers as needed and ongoing monitoring and robust internal controls.
Economic Sanctions and Financial Crime Compliance Risk
The Company is committed to full compliance with sanctions and anti-financial crime legislation. Client onboarding includes screening against global sanctions lists, with regular ongoing checks to detect changes in clients’ status. These practices are designed to prevent engagement with sanctioned or high-risk entities.
Litigation Risk
Legal or contractual disputes could result in financial loss or operational disruption. The Company manages this risk through strong operational procedure and internal controls to ensure contractual compliance and proper documentation.
Liquidity Risk
Liquidity risk arises from the potential inability to meet financial obligations as they fall due. This risk becomes more pronounced during abnormal market conditions or financial crises, potentially leading to a liquidity shortfall and restricted access to capital markets. Liquidity shortages expose the Firm to the risk of having insufficient cash to fulfil its duties to creditors/debtors and can result in regulatory sanctions, loss of business and damage to the Company’s reputation. The Company mitigates this through regular liquidity analysis and stress testing, monitoring of funding needs and exposures and effective cash flow and treasury management.
Reputational Risk
Reputational risk is a concern stemming from negative publicity related to the Company’s operations, whether warranted or not. Such negative exposure can lead to a reduction of its client base, decline in revenue, or legal claims against the Company. The Company maintains high standards of governance and compliance and proactively monitors reputational exposures to safeguard its market standing.
 
Page 2

 
GLOBAL MARKETS GROUP LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

Political Risk
The Company may be impacted by political developments, such as regulatory shifts or geopolitical events, increasing the risk of financial loss or interruption of operations. Continuous monitoring of client activity and market conditions is conducted to ensure alignment with clients’ profiles and compliance obligations. Furthermore, the Company and its Directors will continue to closely track regulatory changes from UK, EU, and international bodies, aiming to remain adaptable and manage political risk effectively.
Credit and Counterparty Risk
The Company maintains partnerships with reputable, FCA-regulated liquidity providers and counterparties for the execution of client orders. All counterparties are subject to rigorous initial due diligence, followed by ongoing risk assessments conducted on both a monthly and annual basis. These assessments include continuous monitoring of order flow, with a specific focus on identifying and investigating anomalies such as elevated rejection rates, price slippage, or other execution irregularities. Where such issues are identified, the Company promptly escalates the matter to the relevant counterparty for further analysis and resolution. This ongoing oversight ensures that counterparties remain suitable and continue to meet the Company's execution and risk standards.
Client funds are held with top-rated UK credit institutions in segregated accounts, selected based on credit ratings from agencies such as Moody’s, S&P, or Fitch.
Market Risk
Market Risk refers to the potential for financial loss due to adverse movements in market prices, which may affect the value of assets over a given period. Such fluctuations often result from economic changes or market-wide events. Market risk is typically categorised into the following key areas:
o Interest Rate Risk: The risk that the fair value or future cash flows of financial instruments may fluctuate due to changes in market interest rates.
o Commodities Risk: The risk of volatility in market values and future income streams arising from fluctuations in the prices of commodities such as oil, metals, natural gas, and electricity.
o Foreign Exchange Risk: The risk associated with financial transactions denominated in a currency other than the Company’s base currency, which can lead to losses due to exchange rate fluctuations.
Under the matched principal model, the Company’s exposure to market risk was primarily limited to foreign exchange risk, driven by the impact of currency fluctuations on foreign currency deposits and trading positions. This exposure has historically remained low, as the majority of the Company’s funds are held in sterling pounds.
With the transition to the Full Principal Model, the Company is exposed to an increased level of market risk, as it no longer maintains a fully hedged position on client trades. This shift introduces direct exposure to fluctuations in underlying asset prices, particularly in forex and CFD markets.
However, the enhanced Risk Management framework and the expanded staff headcount (including a dedicated dealing team) will ensure the Company is well-equipped to effectively manage this increased risk. Crucially, the increased risk has been reflected directly in the Operational Risk Scenarios and Stress Testing analysis conducted by the Company.
 
Page 3

 
GLOBAL MARKETS GROUP LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025


Money Laundering and Terrorist Financing Risk
The Company maintains all necessary policies, procedures, and controls with respect to money laundering and terrorist financing to ensure compliance with applicable legislation and incorporates, as applicable, any new information published. Furthermore, it ensures that all personnel receive sufficient relevant training at least annually.
Operational Systems/IT Failure Risk
The Company uses trading platforms and operational systems provided by well-established, reputable counterparties for clients’ trades, which also provide back-up arrangements in case of main system failure. Furthermore, all clients’ data is securely stored can be readily accessed remotely in the event of a system failure.
Cyber Resilience Risk
In accordance with FCA guidance and recommendations, the Company has taken steps to enhance its cyber resilience, including staff awareness programmes, and maintaining up-to-date incident management arrangements and business continuity planning.

Other key performance indicators
 
 To assess business performance and financial health, the Company monitors a combination of KPIs, including the number of new client relationships, average client deposits, trading volumes, revenue breakdown by stream and overall profitability.
In alignment with the FCA's Consumer Duty standards, the Company systematically monitors customer outcome data to ensure the consistent delivery of good outcomes for its clients. This monitoring framework enables the early identification of any gaps in service or performance, allowing for timely corrective actions to be implemented where necessary.
As the Company continues to scale its operations, it will further enhance its data collection and analysis capabilities to support more robust performance benchmarking and accurate KPI tracking. These efforts will strengthen the Company’s ability to assess client engagement, service quality, and business effectiveness in line with regulatory expectations and internal performance targets.


This report was approved by the board on 18 July 2025 and signed on its behalf.



C Vasiadou
Chief Executive

Page 4

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

The Company's main activity is dealing in investments as Principal with a matched principal limitation. This limitation was removed on 2 July 2025.

Results and dividends

The loss for the year, after taxation, amounted to £717,748 (2024 - loss £636,065).

Directors

The directors who served during the year were:

R Donoghue 
P M Zachariades (resigned 11 June 2024)
C Vasiadou 
K K Pourgalis 

Future developments

The Company’s Senior Management and Board of Directors are confident that the revised business strategy, following the successful removal of the matched principal limitation, has strategically positioned the Company to enhance client outreach and accelerate growth in trading volumes. The Company remains firmly on track to achieve steady operational growth and robust revenue generation in the coming year, as outlined in the ‘Post Balance Sheet Events’ section.

Page 5

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

In support of its evolving business model and recent regulatory permission approval, the Company’s Board has committed to allocating additional resources and expanding headcount in line with the growth in operational activities. Recruitment efforts have focused on attracting highly experienced professionals to reinforce key functions, including Risk Management, Brokerage and Dealing Operations, and Customer Support—areas identified as critical under the revised business model. 
To address this elevated risk emanating from the full principal model, the Company has implemented a strengthened Risk Management framework to ensure that the Company is well-positioned to actively monitor, assess, and manage its market risk exposures. Importantly, the increase in market risk has been formally incorporated into the Company’s Operational Risk Scenarios and Stress Testing analyses, ensuring that risk exposure is quantitatively assessed and adequately capitalised within its overall risk management strategy.
In parallel, the Company has entered into institutional agreements with additional bridge and liquidity providers, aimed at enhancing the efficiency, resilience, and competitiveness of its trading operations. These strategic initiatives are intended to support the Company’s long-term growth objectives and ensure operational readiness as it scales its activities.

Auditors

The auditorsCalders (1883) LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 18 July 2025 and signed on its behalf.
 





C Vasiadou
Chief Executive

Page 6

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GLOBAL MARKETS GROUP LIMITED
 

Opinion


We have audited the financial statements of Global Markets Group Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of income and retained earnings, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 March 2025 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


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 United Kingdom, including the Financial Reporting Council'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.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 7

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GLOBAL MARKETS GROUP LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 8

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GLOBAL MARKETS GROUP LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered and undertook the following audit procedures in response:
      •    We obtained an understanding of the legal and regulatory frameworks that are applicable to the company
           and determined that the most significant are those that relate to the reporting frameworks (United 
           Kingdom accounting standards and Companies Act 2006);
      •    We obtained an understanding of the nature of the industry and sector, control environment and business
           performance; 
      •    The outcome of discussions with management and those charged with governance and any matters we
           identified having obtained and reviewed the company’s documentation of their policies and procedures
           related to:   
                 -    Identifying, evaluating and complying with laws and regulations and whether they were aware of 
                      any instances of non-compliance or any actual or potential litigation or claims;
                 -    Detecting and responding to the risks of fraud and whether they have knowledge of any actual, 
                      suspected or alleged fraud;
                 -    The internal controls established to mitigate risks of fraud or non-compliance with laws and
                      regulations;   
      •    The matters discussed during the audit engagement team briefing regarding how and where fraud might 
           occur in the financial statements and any potential indicators of fraud. All engagement team members 
           were advised to remain alert to any indications of fraud or non-compliance with laws and regulations
           throughout the audit;  
      •    Reviewing the financial statement disclosures and testing to supporting documentation to assess
           compliance with provisions of relevant laws and regulations described as having a direct effect on the 
           financial statements;
      •    Performing analytical procedures to identify any unusual or unexpected relationships that may indicate
           risks of material misstatement due to fraud; 
      •    Reading minutes of meetings of those charged with governance and reviewing correspondence with 
;          HMRC and inspection of relevant legal correspondence;
      •    In addressing the risk of fraud through management override of controls, testing the appropriateness of
           journal entries and other adjustments by testing manual journal entries, in particular journal entries
           relating to management estimates and entries determined to be large or relating to unusual transactions;
      •    Assessing whether the judgements made in making accounting estimates are indicative of a potential
           bias; and evaluating the business rationale of any significant transactions that are unusual or outside the
           normal course of business;
 
Page 9

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GLOBAL MARKETS GROUP LIMITED (CONTINUED)


                 
      •    Assessment of the appropriateness of the collective competence and capabilities of the engagement
           team included consideration of the engagement team’s: 
                 -    understanding of, and practical experience with audit engagements of a similar nature and
                      complexity through appropriate training and participation;
                 -    knowledge of the industry in which the client operates; 
                 -    understanding of the legal and regulatory requirements specific to the company including:
                                   •    the provisions of the applicable legislation
                                   •    the applicable statutory provisions;
As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud and identified the greatest potential for fraud in the areas in which management is required to exercise significant judgement. We are also required to perform specific procedures to respond to the risk of management override.   
We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of the material amounts and disclosures in the financial statements. 
Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pensions legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate and avoid a material penalty. These included data protection, employment and health and safety regulations, competition and anti-bribery laws, environment regulations. 
With regards to laws and regulations relating to the operating aspects of the company, these were discussed with management and were not considered fundamental to the operating of the business therefore should not have a material impact on the financial statements.
No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Page 10

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GLOBAL MARKETS GROUP LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





D J Gallagher (Senior statutory auditor)
  
for and on behalf of
Calders (1883) LLP
 
Chartered Accountants
and Statutory Auditors
  
30 Orange Street
London
WC2H 7HF

18 July 2025
Page 11

 
GLOBAL MARKETS GROUP LIMITED
 
 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
Note
£
£

  

Turnover
  
107,122
110

Cost of sales
  
(57,916)
-

Gross profit
  
49,206
110

Administrative expenses
  
(779,622)
(636,175)

Operating loss
 4 
(730,416)
(636,065)

Interest receivable and similar income
  
12,668
-

Loss before tax
  
(717,748)
(636,065)

Loss after tax
  
(717,748)
(636,065)

  

  

Retained earnings at the beginning of the year
  
(1,778,529)
(1,142,464)

  
(1,778,529)
(1,142,464)

Loss for the year
  
(717,748)
(636,065)

Retained earnings at the end of the year
  
(2,496,277)
(1,778,529)
The notes on pages 17 to 23 form part of these financial statements.

Page 12

 
GLOBAL MARKETS GROUP LIMITED
REGISTERED NUMBER: 09493910

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 7 
1,652
-

  
1,652
-

Current assets
  

Debtors
 8 
19,256
19,527

Cash at bank and in hand
 9 
2,479,449
375,860

  
2,498,705
395,387

Creditors: amounts falling due within one year
 10 
(291,428)
(13,728)

Net current assets
  
 
 
2,207,277
 
 
381,659

Total assets less current liabilities
  
2,208,929
381,659

  

Net assets
  
2,208,929
381,659


Capital and reserves
  

Called up share capital 
 11 
721,500
721,500

Other reserves
 12 
3,983,706
1,438,688

Profit and loss account
 12 
(2,496,277)
(1,778,529)

  
2,208,929
381,659


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 July 2025.




C Vasiadou
Director

The notes on pages 17 to 23 form part of these financial statements.

Page 13

 
GLOBAL MARKETS GROUP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 April 2024
721,500
1,438,688
(1,778,529)
381,659


Comprehensive income for the year

Loss for the year
-
-
(717,748)
(717,748)

Capital contribution
-
2,545,018
-
2,545,018
Total comprehensive income for the year
-
2,545,018
(717,748)
1,827,270


At 31 March 2025
721,500
3,983,706
(2,496,277)
2,208,929


The notes on pages 17 to 23 form part of these financial statements.

Page 14

 
GLOBAL MARKETS GROUP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
721,500
758,688
(1,142,464)
337,724


Comprehensive income for the year

Loss for the year
-
-
(636,065)
(636,065)

Capital contribution
-
680,000
-
680,000
Total comprehensive income for the year
-
680,000
(636,065)
43,935


At 31 March 2024
721,500
1,438,688
(1,778,529)
381,659


The notes on pages 17 to 23 form part of these financial statements.

Page 15

 
GLOBAL MARKETS GROUP LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
£
£

Cash flows from operating activities

Loss for the financial year
(717,748)
(636,065)

Adjustments for:

Depreciation of tangible assets
71
-

Interest received
(12,668)
-

Decrease/(increase) in debtors
270
(12,423)

Increase in creditors
277,700
5,187

Net cash generated from operating activities

(452,375)
(643,301)


Cash flows from investing activities

Purchase of tangible fixed assets
(1,723)
-

Interest received
12,668
-

Net cash from investing activities

10,945
-

Cash flows from financing activities

Capital contribution
2,545,018
680,000

Net cash used in financing activities
2,545,018
680,000

Net increase in cash and cash equivalents
2,103,588
36,699

Cash and cash equivalents at beginning of year
375,861
339,161

Cash and cash equivalents at the end of year
2,479,449
375,860


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
2,479,449
375,860

2,479,449
375,860


The notes on pages 17 to 23 form part of these financial statements.

Page 16

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Global Markets Group Limited is a private limited company incorporated in England and Wales, registration number 09493910. The registered office is Green Park House, 15 Stratton Street, London, W1J 8LQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 17

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a 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.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 18

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.9

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.10

Creditors

Short-term creditors are measured at the transaction price. 


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgments, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on an continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
There were no key judgments or estimation uncertainties in the application of the company's accounting policies during the year.

Page 19

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Operating loss

The operating loss is stated after charging:

2025
2024
£
£

Exchange differences
611
(30)

Other operating lease rentals
26,613
33,080


5.


Employees

Staff costs, including directors' remuneration, were as follows:


2025
2024
£
£

Wages and salaries
390,358
333,337

Social security costs
26,696
35,636

Cost of defined pension contribution scheme
1,321
2,972

418,375
371,945


The average monthly number of employees, including the directors, during the year was as follows:


        2025
        2024
            No.
            No.







Directors
3
3


6.


Interest receivable

2025
2024
£
£


Other interest receivable
12,668
-

12,668
-

Page 20

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

7.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2024
1,120


Additions
1,723



At 31 March 2025

2,843



Depreciation


At 1 April 2024
1,120


Charge for the year on owned assets
71



At 31 March 2025

1,191



Net book value



At 31 March 2025
1,652



At 31 March 2024
-

Page 21

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

8.


Debtors


2025
2024
£
£

Due after more than one year

Other debtors
8,820
5,316

8,820
5,316

Due within one year

Other debtors
3,123
6,780

Prepayments and accrued income
7,313
7,431

19,256
19,527



9.


Cash

2025
2024
£
£

Cash at bank and in hand
2,479,449
375,860

2,479,449
375,860



10.


Creditors: Amounts falling due within one year

2025
2024
£
£

Other taxation and social security
2,295
-

Other creditors
269,083
4,428

Accruals
20,050
9,300

291,428
13,728


Page 22

 
GLOBAL MARKETS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

11.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



721,500 (2024 - 721,500) Ordinary shares shares of £1.00 each
721,500
721,500



12.


Reserves

Other reserves

The company received a number of cash injections from its shareholders during the year which totaled £680,000 (2023 - £758,688). These funds were to provide additional working capital and should be treated as a capital contribution.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £2,972 (2023 - £1,871) . Contributions totalling £nil (2023 - £770) were payable to the fund at the reporting date and are included in creditors.


14.


Controlling party

Citypark Investments Limited, a company incorporated in the UK is the immediate and ultimate parent company owning 90.01% of the share capital. The ultimate controlling party is Mr Shi Lu.

 
Page 23