FX Technology Limited - Filleted accounts

Registered number

11602958

FX Technology Limited

Filleted Accounts

31 December 2024

FX Technology Limited
Registered number:		11602958
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		58,316			75,377

Current assets
Stocks		1,925,241			86,104
Debtors	4	6,727,690			2,230,033
Cash at bank and in hand		19,181,045			11,889
		27,833,976			2,328,026

Creditors: amounts falling due within one year	5	(27,862,893)			(2,410,677)

Net current liabilities			(28,917)			(82,651)

Total assets less current liabilities			29,399			(7,274)

Creditors: amounts falling due after more than one year	6		(8,505)			(18,526)



Net assets/(liabilities)			20,894			(25,800)

Capital and reserves
Called up share capital			300			300
Profit and loss account			20,594			(26,100)

Shareholders' funds			20,894			(25,800)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr Adrian C K Li Mow Ching		Mr Liangchen Chen
Director		Director
Approved by the board on 13 October 2025

FX Technology Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Equipment, fixtures & fittings	over 5 years
	Motor vehicles	over 5 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			8		8


3	Tangible fixed assets
		Equipment, fixtures & fittings		Motor vehicles		Total
£			£		£
	Cost
	At 1 January 2024	19,980		126,006		145,986
	Additions	2,378		-		2,378
	At 31 December 2024	22,358		126,006		148,364

	Depreciation
	At 1 January 2024	9,118		61,491		70,609
	Charge for the year	3,310		16,129		19,439
	At 31 December 2024	12,428		77,620		90,048

	Net book value
	At 31 December 2024	9,930		48,386		58,316
	At 31 December 2023	10,862		64,515		75,377


4	Debtors			2024		2023
£					£

	Trade debtors			-		194,492
	Amounts owed by group undertakings and undertakings in which the company has a participating interest and under common control			1,164,290		920,660
	Other debtors			5,563,400		1,114,881
				6,727,690		2,230,033


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Bank loans and overdrafts			10,648		10,648
	Trade creditors			6,984		227,238
	Taxation and social security costs			5,176		66,792
	Other creditors			27,840,085		2,105,999
				27,862,893		2,410,677


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Bank loans			8,505		18,526


7	Other information

	FX Technology Limited is a private company limited by shares and incorporated in England. Its registered office is:
	2 Stone Buildings
	Lincoln's Inn
	London
	WC2A 3TH