REGISTERED NUMBER: 10516590 (England and Wales)

Abridged Unaudited Financial Statements for the Year Ended 31 December 2024

for

Open Exchange Rates (UK) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms J A Crowcroft

REGISTERED OFFICE:

5 Luke Street

Greater London

London

EC2A 4PX

REGISTERED NUMBER:

10516590 (England and Wales)

ACCOUNTANTS:

Litchfields

5 Luke Street

London

EC2A 4PX

FIXED ASSETS

Intangible assets

4

539,295

95,355

Tangible assets

5

1,928

3,534

Investments

6

2

-

541,225

98,889

CURRENT ASSETS

Debtors

1,013,332

927,587

Cash at bank

1,803,380

1,525,781

2,816,712

2,453,368

CREDITORS

Amounts falling due within one year

206,441

166,126

NET CURRENT ASSETS

2,610,271

2,287,242

TOTAL ASSETS LESS CURRENT LIABILITIES

3,151,496

2,386,131

PROVISIONS FOR LIABILITIES

482

883

NET ASSETS

3,151,014

2,385,248

CAPITAL AND RESERVES

Called up share capital

3

1

Retained earnings

3,151,011

2,385,247

3,151,014

2,385,248

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 director acknowledges her 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 26 September 2025 and were signed by:

Ms J A Crowcroft - Director

1.	STATUTORY INFORMATION

Open Exchange Rates (UK) 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.

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.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

33.3% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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 balance sheet date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

152,464

Additions

496,619

At 31 December 2024

649,083

AMORTISATION

At 1 January 2024

57,109

Amortisation for year

52,679

At 31 December 2024

109,788

NET BOOK VALUE

At 31 December 2024

539,295

At 31 December 2023

95,355

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

9,970

DEPRECIATION

At 1 January 2024

6,436

Charge for year

1,606

At 31 December 2024

8,042

NET BOOK VALUE

At 31 December 2024

1,928

At 31 December 2023

3,534

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

Additions

2

At 31 December 2024

2

NET BOOK VALUE

At 31 December 2024

2

7.	RELATED PARTY DISCLOSURES

During the year the company made a loan to the director which is interest free. The loan is repayable on demand and the balance outstanding at the year end was £680,112.