Registration number:
Quantfury Trading UK Limited
(formerly
for the Year Ended 31 March 2025
Quantfury Trading UK Limited
(formerly
Contents
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Company Information |
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Strategic Report |
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Directors Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report - Custom Report |
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Statement of Comprehensive Income (P&L Combined) |
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Balance Sheet |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Quantfury Trading UK Limited
(formerly
Company Information
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Directors |
Mr Amarjet Singh Snehi Roger John Knight |
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Registered office |
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Auditors |
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Quantfury Trading UK Limited
(formerly
Strategic Report for the Year Ended 31 March 2025
Principal activity
Quantfury Trading UK Ltd principal activity is that of a broker-dealer, trading and investing in global markets for retail and professional clients.
Fair review of the business
Turnover increased from £238,808 to £379,731 an increase of 59% with gross profit also increasing from £232,396 to £327,202 an increase of 40%. A loss before tax of (£466,097) was achieved. The company had net assets of £746,084 as at 31st March 2025 (2024: £12,181).
The increase in turnover is because of increased activity and more volatility in global markets.
The company incurred significant net losses during the period despite maintaining healthy gross profitability. These results are in line with management’s expectations following the recent change of control and are anticipated to improve gradually as the UK entity commences and scales its operations.
Within the year ended 31st March 2025 there was a change control of the firm. This was carried out through a share purchase agreement. A new director Roger Knight was appointed and a existing Director Shella Snehi resigned.
The directors have reviewed the above financial information and are satisfied with the results.
Future Developments
With the prior year acquisition of the company, it expects eventual adjustments to the business model to meet UK-based demand and market shifts. It is also expected that as a result of these eventual adjustments to the business model the company will emerge profitably.
Going Concern
The financial statements have been prepared on a going concern basis, which assumes that the company will continue to operate for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of business.
The directors have assessed the company’s financial position, cash flow projections, and available financial resources, and are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.
No material uncertainties have been identified that may cast significant doubt on the company’s ability to continue as a going concern.
Principal risks and uncertainties
There are several risks and uncertainties that can impact on the performance of the company, some of which are beyond the control of the board of directors. These risks and uncertainties include:
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Regulatory & Political Risks: Unexpected government policies, industry regulations, or legal changes that negatively affect business operations or profitability. The company keeps close to monitoring changes in industry trends and regulation through various channels and adapts to any changes. |
Quantfury Trading UK Limited
(formerly
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Technological: Failure to invest in new technologies or adapt to technological advancements, leading to a competitive disadvantage. The company is enhancing its reporting and IT security capabilities to meet consumer protection demands. |
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Reputational Risks: Negative publicity or ethical concerns that erode public trust, customer loyalty, and market value. The firm monitors online sentiment and implements proactive communication strategies. |
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Financial Risks: Financial market fluctuations, cash flow issues, or capital pressures that threaten a company's financial stability and ability to achieve its strategic goals. |
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Operational & System: Disruptions in a company's system's or operations that hinder operations and impact the ability to deliver products or services. The firm continually reviews ways of improving internal processes and systems, investing in staff training and security measures, obtaining appropriate insurance, and developing comprehensive crisis management. |
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Human Resource & Leadership Risks: Poorly made strategic decisions, ineffective leadership, or significant changes in senior management that can derail strategy execution. The firm conducts regular strategic reviews and clearly communicates the vision and strategy whilst maintaining flexibility to adapt to changing circumstances. |
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Governance Risks: Flaws in a company's control, planning, or internal processes that can lead to poor strategic direction or execution. The firm has implemented clear governance structures, defined roles, and setting policies that align with organisational goals. |
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Cyberattacks: Inadequate resilience to cyberattacks and insufficient data controls, especially with growing data sharing via APIs. The firm adopts strong, unique passwords with multi-factor authentication, regularly updating all software and operating systems, backing up critical data, using firewalls and security software like antivirus and anti-malware programs, educating users about phishing and other threats, and carefully monitoring for unusual network activity. |
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Third-party failures: Over-reliance on and inadequate oversight of third-party providers, particularly in technology and supply chains. The firm continually vets any third-party provider; we maintain strong contractual agreements with clear incident response clauses. We also diversify amongst providers to manage the risk |
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Mis-selling and conflicts of interest: Risks arising from inappropriate incentive structures or insider dealing that lead to harm for consumers or market integrity. The company is strengthening its compliance frameworks and enhancing its reporting. |
Section 172(1) Statement
The Directors, in accordance with Section 172(1) of the Companies Act 2006, acknowledge their duty to act in the way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole, and in doing so have had regard to the matters set out in sub-sections (a) to (f) of that section.
In discharging their duties, the Directors have considered the likely long-term consequences of their decisions, the interests of employees, the need to foster relationships with clients, suppliers and other stakeholders, the impact of the Company’s operations on the wider community and environment, the maintenance of a reputation for high standards of business conduct, and the need to act fairly as between members of the Company.
The principal considerations are summarised below:
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(a) |
Long-term consequences of decisions: The Directors make decisions with the long-term sustainability and financial stability of the Company in mind. Strategic decisions, including investment strategies and risk management frameworks, are designed to ensure ongoing compliance with MiFID regulations and to promote steady growth within acceptable risk parameters. |
Quantfury Trading UK Limited
(formerly
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(b) |
Interests of employees: The Company employs two staff members (including directors). The Directors recognise that the success of the business depends on their skill, professionalism, and integrity. Regular communication, training opportunities, and a supportive work environment are maintained to ensure employees remain engaged and aligned with the Company’s objectives. |
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(c) |
Relationships with clients, suppliers, and others: The Directors value the importance of maintaining strong relationships with clients, counterparties, and service providers. The Company prioritises transparency, fair dealing, and reliability in all business relationships, ensuring the highest levels of client satisfaction and compliance with regulatory standards. |
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(d) |
Impact on the community and environment: As a financial services business with limited physical footprint, the Company’s direct environmental impact is minimal. Nonetheless, the Directors are mindful of resource efficiency, electronic communication to reduce paper use, and ethical investment considerations where applicable. |
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(e) |
Reputation for high standards of business conduct: The Company’s success depends on maintaining a reputation for integrity, professionalism, and compliance with regulatory obligations. The Directors promote a culture of ethical conduct and robust governance consistent with Financial Conduct Authority (FCA) expectations. |
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(f) |
Fairness between members: The Company has a small number of shareholders, and the Directors ensure that all decisions are made fairly and in the best interests of the members as a whole, without favour to any individual. |
The Directors believe that the approach described above enables the Company to promote its long-term success, safeguard its stakeholders, and fulfil its statutory and regulatory responsibilities effectively.
Approved and authorised by the
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Quantfury Trading UK Limited
(formerly
Directors Report for the Year Ended 31 March 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
Change of company name
The company changed its name from
Directors of the company
The directors who held office during the year were as follows:
Dividends
There were no dividends paid by the company in the year (2024 - 649,475).
Information included in the Strategic Report
Please refer to matters referred to in the strategic report.
Going concern
The directors have reviewed the company's cashflow forecasts and operating budgets, including the company's ability to manage it's controllable costs, and believe that it has unconditional support from the ultimate parent company and sufficient net assets to meet its obligations as they arise.
Directors liabilities
The Company has made qualifying third-party indemnity provisions for the benefit of its directors which were made during the year and remain in force at the date of this report.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved and authorised by the
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Quantfury Trading UK Limited
(formerly
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Quantfury Trading UK Limited
(formerly
Independent Auditor's Report to the Members of Quantfury Trading UK Limited
Opinion
We have audited the financial statements of Quantfury Trading UK Limited (Formerly Equitrade Capital Ltd) (the ‘company’) for the year ended 31 March 2025 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
• give a true and fair view of the state of the company’s affairs as at 31 March 2025 and of its Loss for the year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Quantfury Trading UK Limited
(formerly
Independent Auditor's Report to the Members of Quantfury Trading UK Limited
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
• the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
• the financial statements are not in agreement with the accounting records and returns; or
• certain disclosures of directors’ remuneration specified by law are not made; or
• we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Quantfury Trading UK Limited
(formerly
Independent Auditor's Report to the Members of Quantfury Trading UK Limited
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
The company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant:
• The Companies Act 2006
• Financial Reporting Standard 102
• UK tax legislation
• FCA regulations
• UK employment legislation
We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
We understood how the company is complying with those legal and regulatory frameworks by making inquiries of management and those responsible for legal and compliance procedures.
The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with these laws and regulations. The assessment did not identify any issues in this area.
Quantfury Trading UK Limited
(formerly
Independent Auditor's Report to the Members of Quantfury Trading UK Limited
We assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
• Identifying and assessing the measures management has in place to prevent and detect fraud,
• Challenging assumptions and judgements made by management in its significant estimates, and
• Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential existed within the recording and recognition of revenue.
Our procedures in this respect were focused on the origination of revenue and directed towards ensuring the accuracy and completeness of the same by undertaking testing on a sample basis of the revenue items to ensure that sales had been recorded correctly and in the appropriate accounting period. We consider that the work we undertook in this regard was considered capable of detecting irregularities and fraud within the sales cycle.
Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach. The risk is also greater regarding irregularities occurring to fraud other than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.
A further description of our responsibilities is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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For and on behalf of
Dock Offices
Surrey Quays Road
London
SE16 2XU
Quantfury Trading UK Limited
(formerly
Statement of Comprehensive Income for the Year Ended 31 March 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Other operating income |
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|
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Operating (loss)/profit |
(396,036) |
116,406 |
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Other interest receivable and similar income |
- |
|
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Interest payable and similar expenses |
( |
( |
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(70,061) |
(12,089) |
||
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(Loss)/profit before tax |
( |
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(Loss)/profit for the financial year |
( |
|
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(Loss)/profit for the year |
(466,097) |
104,317 |
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Other Comprehensive Income |
- |
- |
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Total comprehensive (loss)/income for the year |
(466,097) |
104,317 |
Quantfury Trading UK Limited
(formerly
(Registration number: 04977383)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
|||
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Tangible assets |
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Right of Use Assets |
1,433,686 |
- |
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Current assets |
|||
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Creditors: Lease liabilities falling due within on year |
(327,272) |
- |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Lease liabilities falling due after more than one year |
(1,107,390) |
- |
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Net assets |
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Capital and reserves |
|||
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Called up share capital |
1,200,100 |
100 |
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Retained earnings |
(454,016) |
12,081 |
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Shareholders' funds |
746,084 |
12,181 |
The financial statements have been prepared under the medium / large regime.
Approved and authorised by the
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Quantfury Trading UK Limited
(formerly
Statement of Changes in Equity for the Year Ended 31 March 2025
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Share capital |
Retained earnings |
Total |
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At 1 April 2024 |
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Total comprehensive Loss for the year |
- |
( |
( |
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New share capital subscribed |
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- |
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At 31 March 2025 |
|
( |
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Share capital |
Retained earnings |
Total |
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At 1 April 2023 |
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Total comprehensive Income for the year |
- |
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Dividends |
- |
( |
( |
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At 31 March 2024 |
100 |
12,081 |
12,181 |
Quantfury Trading UK Limited
(formerly
Statement of Cash Flows for the Year Ended 31 March 2025
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Note |
2025 |
2024 |
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Cash flows from operating activities |
|||
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(Loss)/profit for the year |
( |
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Adjustments to cash flows from non-cash items |
|||
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Depreciation and amortisation |
|
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Finance income |
- |
( |
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Finance costs |
|
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( |
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||
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Working capital adjustments |
|||
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(Increase)/decrease in trade debtors |
( |
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Increase/(decrease) in trade creditors |
|
( |
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Net cash flow from operating activities |
( |
|
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Cash flows from investing activities |
|||
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Interest received |
- |
|
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Acquisitions of tangible assets |
( |
( |
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CA investment - listed other shares additions |
- |
7,464 |
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Leasehold property acquisition costs |
(62,679) |
- |
|
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Net cash flows from investing activities |
( |
|
|
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Cash flows from financing activities |
|||
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Interest paid |
( |
( |
|
|
Proceeds from issue of ordinary shares, net of issue costs |
|
- |
|
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Repayment of other borrowing |
( |
( |
|
|
Payments to finance lease creditors |
( |
- |
|
|
Dividends paid |
- |
( |
|
|
Net cash flows from financing activities |
|
( |
|
|
Net increase in cash and cash equivalents |
|
|
|
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Cash and cash equivalents at 1 April |
|
|
|
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Cash and cash equivalents at 31 March |
195,456 |
16,049 |
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Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales. The company registration number is 04977383.
The company was formerly known as Equitrade Capital Ltd.
The address of its registered office is:
England
The Parent company was ASKVN Holdings Ltd to 29th April 2024. ASKVN Holdings Ltd is a company incorporated in Great Britain and registered in England and Wales.
The Parent company was QF Global (UK) Holdings Ltd from 29th April 2024. QF Global (UK) Holdings Ltd is a company incorporated in Great Britain and registered in England and Wales.
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Presentational and foreign currency
The financial statements are presented in Sterling, which is also the functional currency of the company. Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the statement of comprehensive income. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
Going concern
The financial statements have been prepared on a going concern basis.
The directors have reviewed the company's cashflow forecasts and operating budgets, including the company's ability to manage it's controllable costs, and believe that it has unconditional support from the ultimate parent company and sufficient net assets to meet its obligations as they arise.
Key sources of estimation uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The directors consider there to be no key estimates.
Revenue recognition
Revenue is recognised when performance obligations are satisfied, and it is probable that economic benefits will flow to the company, with amounts measurable reliably. Brokerage and commission income is recognised at the point of trade execution, proprietary trading gains are recognised at fair value on execution and revalued at reporting dates, and interest income is accrued using the effective interest rate method. Other fees, such as advisory or maintenance charges, are recognised over time or at the point of service delivery, with revenue measured net of taxes and discounts.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Fixtures and Fittings |
25% Reducing Balance |
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Computer Equipment |
25% Reducing Balance |
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Leasehold Property |
Over Term of the Lease - 5 Years |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
Financial instruments
Classification
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Commissions Received |
|
|
|
Income from foreign exchange services provided |
|
|
|
Dividends received |
- |
|
|
|
|
The analysis of the company's turnover for the year by market is as follows:
|
2025 |
2024 |
|
|
UK |
|
|
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Miscellaneous other operating income |
- |
|
|
Insurance Proceeds Received |
1,570 |
3,750 |
|
|
|
|
Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
|
2025 |
2024 |
|
|
Gain/(loss) on investments |
234 |
(38,198) |
|
Operating (loss)/profit |
|
2025 |
2024 |
|
|
Depreciation Expense - Owned Assets |
13,815 |
2,418 |
|
Depreciation Expense - Leased Assets |
253,191 |
- |
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
- |
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Interest expense on other finance liabilities |
|
|
|
Foreign currency gains / losses |
8,205 |
- |
|
|
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
Sales |
|
|
|
|
|
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
In respect of the highest paid director:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
|
Other fees to auditors |
||
|
Audit-related assurance services |
|
- |
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
(Loss)/profit before tax |
( |
|
|
Corporation tax at standard rate |
( |
|
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Effect of tax losses |
|
|
|
Tax increase from effect of dividends from UK companies |
- |
|
|
Further item of tax decrease |
( |
( |
|
Total tax charge/(credit) |
- |
- |
Deferred tax
Deferred tax include ... / is calculated ...
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
Deferred tax on Capital Allowances |
- |
|
|
Deferred tax on Losses |
|
- |
|
|
|
|
2024 |
Asset |
Liability |
|
Deferred tax on Capital Allowances |
- |
|
|
Deferred tax on Losses |
|
- |
|
|
|
There are £403,978 of unused tax losses (2024 - £182,911) for which no deferred tax asset is recognised in the balance sheet.
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Tangible assets |
|
Fixtures and fittings |
Office equipment |
Total |
|
|
Cost or valuation |
|||
|
At 1 April 2024 |
|
|
|
|
Additions |
|
|
|
|
At 31 March 2025 |
|
|
|
|
Depreciation |
|||
|
At 1 April 2024 |
|
|
|
|
Charge for the year |
|
|
|
|
At 31 March 2025 |
|
|
|
|
Carrying amount |
|||
|
At 31 March 2025 |
|
|
|
|
At 31 March 2024 |
|
|
|
|
Debtors |
|
Note |
2025 |
2024 |
|
|
Trade debtors |
|
|
|
|
Amount owed by group undertakings |
|
- |
|
|
Other debtors |
|
|
|
|
Prepayments |
|
|
|
|
|
|
Details of non-current trade and other debtors
£Nil (2024 -£Nil) of Amounts owed by group undertakings is classified as non current.
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Amount owed to group undertakings |
|
- |
|
|
Other payables |
|
|
|
|
Accruals |
|
|
|
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
1,200,100 |
|
100 |
New shares allotted
|
During the year 1,200,000 |
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Loans and borrowings |
Current loans and borrowings
|
2025 |
2024 |
|
|
Bank overdrafts |
|
- |
|
Other borrowings |
- |
|
|
|
|
|
|
Dividends |
|
2025 |
2024 |
|||
|
£ |
£ |
|||
|
Interim dividend of £Nil (2024 - £ |
- |
649,475 |
||
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Related party transactions |
At the balance sheet date, the parent company owed the company (Qf Global (UK) Holdings Ltd) £591,398 (2024 - £Nil).
At the balance sheet date, the company owed £450,548 to other associated companies.
QF Global Holdings Ltd (Formerly Quantfury TGE Ltd) (British Virgin Islands) - £1,701
Quantfury Trading Ltd (Bahamas) - £446,141
FQ Support Services Ltd (Canada) - £2,706
At the balance sheet date, the company was owed £52,293 by ASKVN Holdings Ltd with a common director.
Loans to related parties
|
2025 |
Parent |
Other related parties |
Total |
|
Advanced |
|
|
|
|
At end of period |
|
|
|
|
|
|||
|
2024 |
Parent |
Total |
|
At start of period |
|
|
|
Advanced |
|
|
|
Repaid |
( |
( |
|
At end of period |
- |
- |
|
|
||
The loan to the parent company shown as outstanding in the year ended 31st March 2024 was to Askvn Holdings Ltd. This loan was settled prior to the change in controlling party.
The loan to the parent company shown as outstanding in the year ended 31st March 2025 was to Qf Global (UK) Holdings Ltd.
Loans from related parties
|
2025 |
Other related parties |
Total |
|
Advanced |
|
|
|
At end of period |
|
|
|
|
||
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
|
2024 |
Other related parties |
Total |
|
At start of period |
|
|
|
Repaid |
( |
( |
|
At end of period |
- |
- |
|
|
||
|
Parent and ultimate parent undertaking |
The parent and controlling party was ASKVN Holdings Ltd to 29th April 2024. ASKVN Holdings Ltd is a company incorporated in Great Britain and registered in England and Wales.
The registered office address of ASKVN Holdings Ltd is 271 Hagley Road, Edgbaston, Birmingham, West Midlands, England, B16 9NB.
The parent and controlling party is QF Global (UK) Holdings Ltd from 29th April 2024. QF Global (UK) Holdings Ltd is a company incorporated in Great Britain and registered in England and Wales.
QF Global (UK) Holdings Ltd company address: 4th Floor, 1 Bolton Street, Piccadilly, London, England, W1J 8HY
|
Non adjusting events after the financial period |
|
|
22 Right-of-Use Asset
|
2025 |
2024 |
|
|
Cost |
||
|
Leasehold Property Cost Brought Forward |
- |
- |
|
Leasehold Property Additions |
1,686,876 |
- |
|
1,686,876 |
- |
|
|
Depreciation |
||
|
Leasehold Property Depreciation Brought Forward |
- |
- |
|
Leasehold Property Depreciation Charge |
(253,190) |
- |
|
Closing Depreciation of Leasehold property (£) |
(253,190) |
- |
|
Carrying Value of Leasehold Property |
1,433,686 |
- |
Depreciation method: straight-line over 5 years.
Quantfury Trading UK Limited
(formerly
Notes to the Financial Statements for the Year Ended 31 March 2025
23 Lease Liabilities
|
2025 |
2024 |
|
|
Lease liabilities due not later than one year |
(327,272) |
- |
|
Lease liabilities due later than one year and not later than five years |
(1,107,390) |
- |
|
Total lease liabilities |
(1,434,662) |
- |
Interest expense recognised in the profit and loss: £61,340