ACCOUNTS - Final Accounts

Registered number: 13515477

BITPANDA TECHNOLOGY UK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

BITPANDA TECHNOLOGY UK LIMITED

Company Information

Directors	A Batlin (resigned 28 February 2025)
	L Y Ross
	D A Murphy (appointed 28 February 2025)


Registered number	13515477


Registered office	Atlantic House
	Holborn Viaduct
	London
	EC1A 2FG


Independent auditors	Sayers Butterworth LLP
	Chartered Accountants and Statutory Auditors
	3rd Floor
	12 Gough Square
	London
	EC4A 3DW

BITPANDA TECHNOLOGY UK LIMITED

Registered number: 13515477

Balance sheet

As at 31 December 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		6,314		19,882
			6,314		19,882
Current assets
Debtors: amounts falling due within one year	5	532,570		718,682
Cash at bank and in hand		298,705		112,886
		831,275		831,568
Creditors: amounts falling due within one year	6	(238,873)		(297,845)
Net current assets			592,402		533,723
Total assets less current liabilities			598,716		553,605
Provisions for liabilities
Deferred tax	7	-		(2,697)
			-		(2,697)
Net assets			598,716		550,908

Capital and reserves
Called up share capital	1	1
Profit and loss account	598,715	550,907
	598,716	550,908

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BITPANDA TECHNOLOGY UK LIMITED

Registered number: 13515477

Balance sheet (continued)

As at 31 December 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 March 2025.

D A Murphy

Director

The notes on pages 3 to 8 form part of these financial statements.

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BITPANDA TECHNOLOGY UK LIMITED

Notes to the financial statements

For the Year Ended 31 December 2024

1.	General information

Bitpanda Technology UK Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales. The company's registered office is Atlantic House, Holborn Viaduct, London, EC1A 2FG.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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:

Revenue represents fees received for services provided during the year to related party entities. This turnover is recognised when the services are provided and is measured at a mark-up on costs.

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BITPANDA TECHNOLOGY UK LIMITED

Notes to the financial statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.8

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.

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BITPANDA TECHNOLOGY UK LIMITED

Notes to the financial statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.8

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

3 years straight-line

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.

2.9

Debtors

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

2.10

Cash and cash equivalents

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

2.11

Creditors

Short-term creditors are measured at the transaction price.

2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 10).

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BITPANDA TECHNOLOGY UK LIMITED

Notes to the financial statements

For the Year Ended 31 December 2024

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 January 2024	40,704
	At 31 December 2024	40,704
	Depreciation
	At 1 January 2024	20,822
	Charge for the year on owned assets	13,568
	At 31 December 2024	34,390
	Net book value
	At 31 December 2024	6,314
	At 31 December 2023	19,882

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	303,126	482,906
Other debtors	229,444	224,921
Prepayments and accrued income	-	10,855
	532,570	718,682

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BITPANDA TECHNOLOGY UK LIMITED

Notes to the financial statements

For the Year Ended 31 December 2024

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	10,656	55,046
Amounts owed to group undertakings	-	324
Corporation tax	19,845	81,174
Accruals and deferred income	208,372	161,301
	238,873	297,845

7.	Deferred taxation

		2024
		£

	At beginning of year	(2,697)
	Credited to profit or loss	2,697
	At end of year	-

The deferred taxation balance is made up as follows:
	2024	2023
	£	£

	Accelerated capital allowances	-	(2,697)
		-	(2,697)

8.	Related party transactions
	The Company has adopted the exemption permitted by paragraph 33.1A of FRS 102 and has not disclosed transactions with other group members, where the group members are wholly owned.

9.	Controlling party

The immediate parent undertaking is Bitpanda GmbH, a company registered in Austria.
The ultimate parent undertaking is Bitpanda Group AG, a company registered in Switzerland.
The parent undertaking of the smallest group of which the company is a member and consolidated financial statements are prepared is Bitpanda Group AG. The parent's registered office address is Hardstrasse 201, 8005 Zürich, Switzerland.

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BITPANDA TECHNOLOGY UK LIMITED

Notes to the financial statements

For the Year Ended 31 December 2024

10.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 17 March 2025 by Andrew Burch (Senior statutory auditor) on behalf of Sayers Butterworth LLP.

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