Crucial FX Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07862938 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Crucial FX Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

M Rivkin

L Jones

Secretary:

M Rivkin

Registered office:

Unit 4 Waters Business Park

Waters Road

Ellesmere Port

CH65 4FF

Registered number:

07862938 (England and Wales)

Accountants:

Ellis & Co

Chartered Accountants

114-120 Northgate Street

Chester

CH1 2HT

Fixed assets

Intangible assets

4

43,748

50,073

Tangible assets

5

301,155

312,758

344,903

362,831

Current assets

Debtors

6

583,302

567,830

Cash at bank and in hand

342,982

259,022

926,284

826,852

Creditors

Amounts falling due within one year

7

656,300

629,353

Net current assets

269,984

197,499

Total assets less current liabilities

614,887

560,330

Creditors

Amounts falling due after more than
one year

8

(158,899

)

(192,988

)

Provisions for liabilities

10

(50,780

)

(60,025

)

Net assets

405,208

307,317

Capital and reserves

Called up share capital

11

319,000

Retained earnings

86,208

(11,683

)

Shareholders' funds

405,208

307,317

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2025 and were signed on its behalf by:

M Rivkin - Director

1.	Statutory information

Crucial FX Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

13.33% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 10 (2023 - 10 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 January 2024

and 31 December 2024

126,500

Amortisation

At 1 January 2024

76,427

Amortisation for year

6,325

At 31 December 2024

82,752

Net book value

At 31 December 2024

43,748

At 31 December 2023

50,073

5.	Tangible fixed assets

Fixtures

and

Motor

Equipment

fittings

vehicles

Totals

£

Cost

At 1 January 2024

703,761

55,001

100,183

858,945

Additions

58,132

20,987

-

79,119

At 31 December 2024

761,893

75,988

100,183

938,064

Depreciation

At 1 January 2024

516,121

26,727

3,339

546,187

Charge for year

59,848

10,837

20,037

90,722

At 31 December 2024

575,969

37,564

23,376

636,909

Net book value

At 31 December 2024

185,924

38,424

76,807

301,155

At 31 December 2023

187,640

28,274

96,844

312,758

6.

Debtors: amounts falling due within one year

31/12/24

31/12/23

£

Trade debtors

264,834

282,687

Other debtors

318,468

285,143

583,302

567,830

7.

Creditors: amounts falling due within one year

31/12/24

31/12/23

£

Bank loans and overdrafts

24,000

Hire purchase contracts

7,877

Trade creditors

441,923

432,492

Taxation and social security

48,015

48,539

Other creditors

134,485

116,445

656,300

629,353

8.

Creditors: amounts falling due after more than one year

31/12/24

31/12/23

£

Bank loans

16,470

42,682

Hire purchase contracts

64,429

72,306

Other creditors

78,000

158,899

192,988

9.	Secured debts

The following secured debts are included within creditors:

31/12/24

31/12/23

£

Hire purchase contracts

72,306

80,183

Hire purchase liabilities are secured ont he underlying asset.

10.	Provisions for liabilities

31/12/24

31/12/23

£

Deferred tax

Accelerated capital allowances

75,289

78,190

Tax losses carried forward

(24,509

)

(18,165

)

50,780

60,025

Deferred

tax

£

Balance at 1 January 2024

60,025

Credit to Statement of Income and Retained Earnings during
year

(9,245

)

Balance at 31 December 2024

50,780

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

120,000

Ordinary

£1

120,000

64,000

A Ordinary

£1

64,000

135,000

AA Ordinary

£1

135,000

319,000

12.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31/12/24

31/12/23

£

M Rivkin

Balance outstanding at start of year

-

Amounts advanced

-

41,779

Amounts repaid

-

(41,779

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

13.	Related party disclosures

A director has made loans to the company. At 31 December 2024 the balance due to the director was £34,451 (31 December 2023: £19,987).

14.	Operating lease commitments

At 31 December 2024 the company had commitments under non-cancellable operating leases over the remaining life of these leases of £131,838 (2023: £NIL). The amount payable within one year in respect of these leases was £29,850 (2023: £NIL).