ACCOUNTS - Final Accounts preparation

Registered number: 14516900

COINXIT LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

COINXIT LTD

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COINXIT LTD
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of CoinXit Ltd for the year ended 31 December 2024 which comprise the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are
subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and
guidance at http://www.icaew.com /en/membership/regulations -standards-and -guidance.

This report is made solely to the director of CoinXit Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CoinXit Ltd and state those matters that we have agreed to state to the director of CoinXit Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CoinXit Ltd and its director for our work or for this report.

It is your duty to ensure that CoinXit Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of CoinXit Ltd. You consider that CoinXit Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of CoinXit Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wilson Partners Limited
Chartered Accountants
Windsor House
Station Court

Station Road

Great Shelford

Cambridge
England
CB22 5NE

30 September 2025

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COINXIT LTD

REGISTERED NUMBER: 14516900

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	5		1,821		2,107
			1,821		2,107
Current assets
Debtors		176,018		696,834
Cash at bank and in hand		885,087		38,164
		1,061,105		734,998
Creditors: amounts falling due within one year		(507,442)		(270,599)
Net current assets			553,663		464,399
Total assets less current liabilities			555,484		466,506

Net assets			555,484		466,506

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	554,484	465,506
	555,484	466,506

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COINXIT LTD

REGISTERED NUMBER: 14516900

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 by:

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

Khing Djien Oei

Director

Date: 30 September 2025

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COINXIT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

The company is registered in England and Wales and its registration number is 14516900. It is a private limited company limited by shares.
Registered office:
Flat 2 76 Cathcart Road
London
United Kingdom
SW10 9DJ

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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COINXIT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Taxation

The tax refund of £12,848 recognised in the financial statements to 31 December 2024 is due to an adjustment of the corporation tax owed at 31 December 2023.
This amount was calculated using the Dutch tax paid of 288,372 EUR for the 31 December 2023 year end using the 31 December 2023 exchange rate of 1.15342.

The amount of Dutch tax due to 31 December 2024 is 256,676 EUR using an exchange rate of 1.20887 this equates to a liability of £212,327.

2.6

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.

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:

Office equipment

33%

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.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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COINXIT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like accrued income, expenses to be recharged and other debtors and trade and other creditors.

2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the companies accounting policies, which are described in note 2, the Director is required to make judgements, estimates and assumptions which affect the amounts reported for assets and liabilities as at the year end date and amounts reported for revenues and expenses during the year. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. However, the nature of estimation means that actual outcomes could differ from those estimates.
There were no significant estimates or judgements made in the year.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

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COINXIT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2024	2,355
	Additions	528
	At 31 December 2024	2,883
	Depreciation
	At 1 January 2024	248
	Charge for the year	814
	At 31 December 2024	1,062
	Net book value
	At 31 December 2024	1,821
	At 31 December 2023	2,107

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