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Registered number: 05424125 KBR FOREIGN EXCHANGE LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 APRIL 2025
KBR FOREIGN EXCHANGE LIMITED REGISTERED NUMBER: 05424125 BALANCE SHEET AS AT 30 APRIL 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | - |  | 1,323
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 392,799 |  | 872,337 |
Cash at bank and in hand | 7 | 1,292,072 |  | 1,478,124 |
|  | 1,684,871 |  | 2,350,461 |
Creditors: amounts falling due within one year | 8 | (544,832) |  | (1,101,499) |
Net current assets |  |  | 1,140,039 |  | 1,248,962
Total assets less current liabilities |  |  | 1,140,039 |  | 1,250,285
Net assets |  |  | 1,140,039 |  | 1,250,285
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 50,000 |  | 50,000
Profit and loss account |  |  | 1,090,039 |  | 1,200,285
|  |  | 1,140,039 |  | 1,250,285
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:
J Bye | V Rampersad
Director | Director
Date: 9 March 2026 |
The notes on pages 2 to 8 form part of these financial statements. Page 1
KBR FOREIGN EXCHANGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
1. | General information
The company is a private company limited by shares and registered in England and Wales. The address of the registered office is Riverside Business Centre, Fort Road, Tilbury, Essex, RM18 7ND. The company’s principal activity is that of trading foreign exchange contracts. 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. Page 2
KBR FOREIGN EXCHANGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Operating leases: the company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.
| 2.7 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Page 3
KBR FOREIGN EXCHANGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.8 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.9 | 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:
|  |  |  | Fixtures and fittings | - | 20% | straight line
|  |  |  | Office equipment | - | 20% | straight line
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.
| 2.10 | 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.
| 2.11 | 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.
| 2.12 | 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. Page 4
KBR FOREIGN EXCHANGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.13 | Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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. Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.
| 2.14 | 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. | Employees
| The average monthly number of employees, including directors, during the year was 6 (2024 - 6).
Page 5
KBR FOREIGN EXCHANGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
4. | Intangible assets
|  | Development expenditure
|  | £
| Cost |
| At 1 May 2024 | 2,233
| At 30 April 2025 | 2,233
| Amortisation |
| At 1 May 2024 | 2,233
| At 30 April 2025 | 2,233
| Net book value |
| At 30 April 2025 | -
| At 30 April 2024 | -
Page 6
KBR FOREIGN EXCHANGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
5. | Tangible fixed assets
|  | Fixtures and fittings | Office equipment | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 May 2024 | 4,600 | 30,618 | 35,218
| Disposals | (993) | (9,648) | (10,641)
| At 30 April 2025 | 3,607 | 20,970 | 24,577
| Depreciation |  |  |
| At 1 May 2024 | 4,600 | 29,295 | 33,895
| Disposals | (993) | (8,325) | (9,318)
| At 30 April 2025 | 3,607 | 20,970 | 24,577
| Net book value |  |  |
| At 30 April 2025 | - | - | -
| At 30 April 2024 | - | 1,323 | 1,323
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 137,998 | 658,350
| Other debtors | 254,801 | 213,987
|  | 392,799 | 872,337
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,292,072 | 1,478,124
|  | 1,292,072 | 1,478,124
Page 7
KBR FOREIGN EXCHANGE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 474,608 | 956,556
| Corporation tax | 52,061 | 123,891
| Other taxation and social security | 2,690 | 3,156
| Other creditors | 482 | 632
| Accruals and deferred income | 14,991 | 17,264
|  | 544,832 | 1,101,499
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 25,000 (2024 - 25,000) A Ordinary shares shares of £1.00 each | 25,000 | 25,000
|  | 25,000 (2024 - 25,000) B Ordinary shares shares of £1.00 each | 25,000 | 25,000
|  |  | 50,000 | 50,000
10. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £20,102 (2024: £21,883). Contributions totalling £483 (2024 - £632) were payable to the fund at the balance sheet date and are included in other creditors.
11. | Auditor's information
The auditor's report on the financial statements for the year ended 30 April 2025 was unqualified. The audit report was signed on 9 March 2026 by Duncan Stannett (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.
Page 8