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COMPANY REGISTRATION NUMBER: 06681961

Floreat Merchant Banking Limited

Filleted Unaudited Abridged Financial Statements

31 December 2024

Floreat Merchant Banking Limited

Abridged Statement of Financial Position

31 December 2024

| 2024 | 2023
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | – | 3,130

Current assets

Debtors | 3,147,997 |  | 3,528,477
Cash at bank and in hand | 401,820 |  | 269,543
| ------------ |  | ------------
| 3,549,817 |  | 3,798,020

Creditors: amounts falling due within one year | 1,118,844 |  | 3,055,174
| ------------ |  | ------------
Net current assets |  | 2,430,973 | 742,846
|  | ------------ | ---------
Total assets less current liabilities |  | 2,430,973 | 745,976
|  | ------------ | ---------
Net assets |  | 2,430,973 | 745,976
|  | ------------ | ---------

Capital and reserves

Called up share capital |  | 951,000 | 951,000
Profit and loss account |  | 1,479,973 | ( 205,024)
|  | ------------ | ---------
Shareholder funds |  | 2,430,973 | 745,976
|  | ------------ | ---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

Floreat Merchant Banking Limited

Abridged Statement of Financial Position (continued)

31 December 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 20 April 2026 , and are signed on behalf of the board by:

Mr H Otaibi | Mr J Wilcox
Director | Director

Mr M Otaibi |
Director |

Company registration number: 06681961

Floreat Merchant Banking Limited

Notes to the Abridged Financial Statements

Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ashdon House, Second Floor, Moon Lane, Barnet, EN5 5YL, Hertfordshire.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in accordance with the accounting policies below. The financial statements are prepared in sterling, which is the functional currency of the entity.
Provisions and accruals
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Computer & IT Equipment | - | 33% straight line
| Fixtures & Fittings | - | 20% straight line
| Office Equipment | - | 20% straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 9 ).
5. Tangible assets

| £
Cost |
At 1 January 2024 and 31 December 2024 | 35,049
| --------
Depreciation |
At 1 January 2024 | 31,919
Charge for the year | 3,130
| --------
At 31 December 2024 | 35,049
| --------
Carrying amount |
At 31 December 2024 | –
| --------
At 31 December 2023 | 3,130
| --------