REGISTERED NUMBER: 07212997 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2024

for

FX STAT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

B M Alweshaigri

S Daneshmand

Secretary:

S Daneshmand

Registered office:

2 Lakeside Drive

London

NW10 7FQ

Registered number:

07212997 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Fixed assets

Intangible assets

4

167,524

349,528

Tangible assets

5

7,024

9,901

174,548

359,429

Current assets

Debtors

6

1,293,989

1,502,249

Cash at bank and in hand

3,877,099

3,956,573

5,171,088

5,458,822

Creditors

Amounts falling due within one year

7

36,867

17,902

Net current assets

5,134,221

5,440,920

Total assets less current liabilities

5,308,769

5,800,349

Creditors

Amounts falling due after more than one year

8

4,834,281

4,720,183

Net assets

474,488

1,080,166

Capital and reserves

Called up share capital

9

4,102,043

4,102,043

Retained earnings

(3,627,555

)

(3,021,877

)

Shareholders' funds

474,488

1,080,166

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2026 and were signed on its behalf by:

S Daneshmand - Director

1.	Statutory information

FX Stat Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements have been prepared on the going concern basis. The company incurred losses during the year, however the directors believe that the company has sufficient financial resources to be able to meet its obligations, if and when they become due and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. On this basis, the directors are of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, and other sales taxes.

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment.

Computer software and Brand/IT development costs are being amortised evenly over their estimated useful life of three and ten years respectively.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

Straight line over 5 years

Motor vehicles

-

Straight line over 5 years

Computer equipment

-

Straight line over 5 years

Taxation

Taxation for the year comprises of current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4.	Intangible fixed assets

Development

Computer

costs

software

Totals

£

£

£

Cost

At 1 May 2023

and 30 April 2024

1,820,040

13,542

1,833,582

Amortisation

At 1 May 2023

1,470,512

13,542

1,484,054

Amortisation for year

182,004

-

182,004

At 30 April 2024

1,652,516

13,542

1,666,058

Net book value

At 30 April 2024

167,524

-

167,524

At 30 April 2023

349,528

-

349,528

5.	Tangible fixed assets

Office

Motor

Computer

equipment

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 May 2023

and 30 April 2024

15,112

14,495

42,246

71,853

Depreciation

At 1 May 2023

9,666

14,495

37,791

61,952

Charge for year

1,557

-

1,320

2,877

At 30 April 2024

11,223

14,495

39,111

64,829

Net book value

At 30 April 2024

3,889

-

3,135

7,024

At 30 April 2023

5,446

-

4,455

9,901

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Amounts owed by group undertakings

1,194,830

1,222,760

Other debtors

99,159

279,489

1,293,989

1,502,249

Amounts owed by group undertakings are unsecured, non-interest bearing and repayable on demand.

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Trade creditors

1,824

-

Taxation and social security

10,022

2,825

Other creditors

25,021

15,077

36,867

17,902

8.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Other creditors

4,834,281

4,720,183

Included within other creditors is a subordinated loan balance of £4,834,281 (2023: £4,720,183), this loan is unsecured, non-interest bearing and has a maturity date of 31 December 2030.

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,000,000

Ordinary

£0.01

10,000

10,000

4,092

B Ordinary

£1,000

4,092,043

4,092,043

4,102,043

4,102,043

10.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year the company made advances available to the director totalling £52,793 (2023: £34,948) and repayments of £23,328 (2023: £10,044) were received during the year. The loan is unsecured and repayable on demand, interest has been charged during the year at the official rate per HMRC. As at the year end the director owed the company a balance of £74,138 (2023: £44,673).

11.	Ultimate controlling party

The directors' consider there to be no ultimate controlling party.