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Registration number: 15262995

Fram Digital LTS UK Limited

Unaudited Financial Statements

for the Period from 6 November 2023 to 31 December 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Fram Digital LTS UK Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Fram Digital LTS UK Limited

Company Information

Directors

Z Tarica

I Shani

Registered office

Cannon Place
78 Cannon Street
London
EC4N 6AF

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Fram Digital LTS UK Limited

Statement of Financial Position as at 31 December 2024

Note

2024
$

Current assets

 

Debtors

4

539

Investments

5

23,302,644

Cash at bank and in hand

 

2,540

 

23,305,723

Creditors: Amounts falling due within one year

6

(1,197,868)

Total assets less current liabilities

 

22,107,855

Provisions for liabilities

(1,204,618)

Net assets

 

20,903,237

Capital and reserves

 

Called up share capital

10

Capital contribution reserve

14,295,751

Retained earnings

6,607,476

Shareholders' funds

 

20,903,237

For the financial period 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 members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Fram Digital LTS UK Limited have elected not to include a copy of the profit and loss account within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the Board on 1 August 2025 and signed on its behalf by:
 

.........................................

I Shani

Director

Company registration number: 15262995

 

Fram Digital LTS UK Limited

Notes to the Unaudited Financial Statements for the Period from 6 November 2023 to 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cannon Place
78 Cannon Street
London
EC4N 6AF

The principal activity of the company is that of trading and investment in cryptoassets.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in USD, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a profit of $6,607,476 for the period ended 31 December 2024 and had net assets at that date of $20,903,237.

The directors' intention is to liquidate the company in 2025. On that basis the financial statements have been prepared on a basis other than going concern.

Revenue recognition

Revenue arising from the trading of cryptocurrencies is recognised at the point when the transaction is settled, that is, when control of the asset has transferred and the risks and rewards of ownership have passed. Gains and losses from changes in the fair value of cryptocurrencies held for trading purposes are recognised in profit or loss as they arise.

Revenue is recognised to the extent that it is probable that economic benefits will flow to the company and the revenue can be reliably measured. Revenue comprises the fair value of consideration received or receivable from cryptocurrency trading activities.

 

Fram Digital LTS UK Limited

Notes to the Unaudited Financial Statements for the Period from 6 November 2023 to 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investments

Investments in cryptocurrency are classified as investments and are measured at fair value through profit or loss. Cryptocurrencies are recognised initially at cost and subsequently measured at fair value at each reporting date. Changes in fair value, including unrealised gains and losses, are recognised in the profit and loss account in the period in which they arise. Fair value is determined based on quoted prices in active markets.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the period, was 0.

 

Fram Digital LTS UK Limited

Notes to the Unaudited Financial Statements for the Period from 6 November 2023 to 31 December 2024

4

Debtors

2024
$

Amounts owed by group undertakings

529

Other debtors

10

539

5

Current asset investments

Fair value

2024
$

Investments in cryptocurrency

23,302,644

6

Creditors

Creditors: amounts falling due within one year

2024
$

Taxation and social security

988,753

Accruals and deferred income

21,820

Other creditors

187,295

1,197,868