The Currency Transfer Group Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 09084999 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE CURRENCY TRANSFER GROUP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L E Cory

S Litobac

P R Plewman

REGISTERED OFFICE:

231 Vauxhall Bridge Road

London

SW1V 1AD

REGISTERED NUMBER:

09084999 (England and Wales)

FIXED ASSETS

Investments

4

588

CURRENT ASSETS

Debtors

5

240,587

246,846

Cash at bank

-

70

240,587

246,916

CREDITORS

Amounts falling due within one year

6

103,421

NET CURRENT ASSETS

137,166

143,495

TOTAL ASSETS LESS CURRENT
LIABILITIES

137,754

144,083

CAPITAL AND RESERVES

Called up share capital

7

1,841

Share premium

8

264,893

Capital redemption reserve

8

226

Other reserves

8

80,859

Retained earnings

8

(210,065

)

(203,736

)

SHAREHOLDERS' FUNDS

137,754

144,083

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2025 and were signed on its behalf by:

S Litobac - Director

1.	STATUTORY INFORMATION

The Currency Transfer Group Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 Income Statement, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

588

NET BOOK VALUE

At 31 December 2024

588

At 31 December 2023

588

The company's investments at the Balance Sheet date in the share capital of companies include the following:

CurrencyTransfer Ltd

Registered office: England

Nature of business:

%

Class of shares:

holding

Ordinary

98.00

Global Currency Partners Ltd

Registered office: England

Nature of business:

%

Class of shares:

holding

Ordinary

97.50

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Amounts owed by group undertakings

240,233

246,846

Other debtors

354

-

240,587

246,846

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

1,800

Amounts owed to group undertakings

75,742

Other creditors

25,879

103,421

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

15,837,500

A Ordinary shares

0.000

1

1,584

1,069,300

B Ordinary shares

0.000

1

107

1,500,000

C Ordinary shares

0.000

1

150

1,841

8.

RESERVES

Share premium account

Share premium comprise the premium arising on the conversion of options under Simple Agreements for Future Equity ("SAFE") into share capital.

Other reserves

Other reserves are non-distributable and consists of amounts invested in the company under SAFE. This investment has been treated as equity as it does not incur interest and there is no fixed maturity date of the agreements. The investment will be converted to share capital following one of a number of trigger events, none of which have occurred in the year to 31 December 2024.

Profit and loss account

The profit and loss account comprise distributable reserves.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The below companies forms part of the group headed by The Currency Transfer Group Ltd but are not 100% owned group undertakings.

2024

2023

Amount owed by Currency Transfer Ltd

240,233

246,846

Amount owed by Global Currency Partners Ltd

(75,742

)

(75,742

)

All amounts relate to intercompany loans and are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

10.	SHARE-BASED PAYMENT TRANSACTIONS

The company operates an Enterprise Management Incentive scheme on behalf of its employee with a valuation of £0.0001 per £0.0001 share. During the year no options were granted (2023: nil), no options were forfeited, none were exercised and none expired during the year. At the balance sheet date 2,736,944 options were outstanding (2023: 2,736,944).