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Registered number:
FOR THE PERIOD ENDED 31 OCTOBER 2025
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ABACUS MARKETS LIMITED
COMPANY INFORMATION
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ABACUS MARKETS LIMITED
CONTENTS
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ABACUS MARKETS LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 31 OCTOBER 2025
The directors present the results for the period ended 31 October 2025 and the state of the company's affairs at the reporting date.
During the period, the company acquired the business of Abacus FX Limited. Subsequent to the acquisition, the underlying trade and operations were transferred to another group undertaking, Lumon Pay Limited. As a result, the company no longer carries on trading activities and acts as a non-operating group entity.
Principal risks and uncertainties The company does not undertake trading activities and therefore has limited exposure to commercial risks. The principal risks facing the company relate to: - maintenance of compliance with applicable legal and regulatory requirements; - management of relationships and balances with fellow group undertakings. The directors monitor these risks on an ongoing basis and consider the current risk profile of the company to be low. Future developments The company is not expected to undertake any trading activities in the foreseeable future. The directors will continue to review the role of the company within the wider Lumon Group as appropriate.
As the Board of Abacus Markets Limited, we have a legal responsibility under section 172 of the Companies Act 2006 to act in the way we consider, in good faith, would be most likely to promote the company’s success for the benefit of its members as a whole, and to have regard to the long-term effect of our decisions on the company and its stakeholders, and in doing so have regard (amongst other matters) to:
∙The directors have considered the reputation of the company with customers, employees and suppliers in their everyday decision-making.
∙The directors have taken into account the financial returns of future business and the best interests of the company when making strategic decisions.
The directors carefully consider the consequences of all projects, ensuring they are fully planned and costed, taking account of the potential financial returns as well as the wider impacts on the business and the environment. In addition, the company's operations continually strive for the minimum environmental impact.
This report was approved by the board on 23 July 2026 and signed on its behalf.
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ABACUS MARKETS LIMITED
DIRECTOR'S REPORT
FOR THE PERIOD ENDED 31 OCTOBER 2025
The director presents his report and the financial statements for the period ended 31 October 2025.
The director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The director is 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 to enable him to ensure that the financial statements comply with the Companies Act 2006. He is 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.
Going concern assumption
Following the transfer of its trade to another group undertaking, the Company no longer undertakes trading activities and has limited ongoing obligations. The Company remains part of the Lumon Group and the directors have no current intention to liquidate the Company. Having reviewed the Company's financial position and expected future obligations, the directors consider it appropriate to prepare the financial statements on the going concern basis. The loss for the period, after taxation, amounted to £6,645,991 (Unaudited year ended 30 April 2024 - profit £Nil). No equity dividends were declared or paid during the period or prior year.
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ABACUS MARKETS LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2025
The directors who served during the period were:
The company has chosen in accordance with section 414C of Companies Act 2006, to set out the following information which would otherwise be required to be contained in the Directors' report within the Strategic report: financial risk management objectives and policies, and future developments in the business of the company.
There are no subsequent events that require disclosure or adjustments to the financial statements.
The auditors, Barnes Roffe Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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ABACUS MARKETS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ABACUS MARKETS LIMITED
We have audited the financial statements of Abacus Markets Limited (the 'Company') for the period ended 31 October 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of 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 auditing the financial statements, we have concluded that the director's 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 Company'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 director with respect to going concern are described in the relevant sections of this report.
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ABACUS MARKETS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ABACUS MARKETS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Director's report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
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 or the Director's report.
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ABACUS MARKETS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ABACUS MARKETS LIMITED (CONTINUED)
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 Auditors' 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.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows:
∙The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector;
∙The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows:
°Companies Act 2006.
°FRS102.
°Employment legislation.
°Tax legislation.
∙We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes and inspecting legal correspondence; and
∙Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of noncompliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
∙Making enquiries of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud;
∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
∙Reviewing the financial statements and testing the disclosures against supporting documentation;
∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
∙Inspecting and testing journal entries to identify unusual or unexpected transactions;
∙Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias; and
∙Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business.
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ABACUS MARKETS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ABACUS MARKETS LIMITED (CONTINUED)
The areas that we identified as being susceptible to misstatement through fraud were:
∙Management bias in the estimates and judgements made;
∙Management override of controls; and
∙Posting of unusual journals or transactions
Because of 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 regulation. 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. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
The period ended 31 October 2025 was the first year in which the financial statements were audited. The comparative figures are therefore unaudited.
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 Auditors' 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.
for and on behalf of
Chartered Accountants & Statutory Auditors
3 Brook Business Centre
Cowley Mill Road
Middlesex
UB8 2FX
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ABACUS MARKETS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 OCTOBER 2025
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ABACUS MARKETS LIMITED
REGISTERED NUMBER: 11961531
STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 12 to 18 form part of these financial statements.
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ABACUS MARKETS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 OCTOBER 2025
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 APRIL 2024
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ABACUS MARKETS LIMITED
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 OCTOBER 2025
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ABACUS MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2025
Abacus Markets Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 20 Farringdon Road, London, EC1M 3HE.
During the period the Company acquired the business of Abacus FX Limited. Subsequently the underlying trade was transferred to another group undertaking and the Company is currently non-trading.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The financial statements for the period ended 31 October 2025 are the first financial statements that adopt amendments to FRS 102 by the Financial Reporting Council (FRC) as part of its 2024 periodic review, effective for periods beginning on or after 1 January 2026. As permitted, the directors have chosen to early adopt these amendments within these financial statements.
The following principal accounting policies have been applied:
Following the transfer of its trade to another group undertaking, the Company no longer undertakes trading activities and has limited ongoing obligations. The Company remains part of the Lumon Group and the directors have no current intention to liquidate the Company. Having reviewed the Company's financial position and expected future obligations, the directors consider it appropriate to prepare the financial statements on the going concern basis.
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.
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ABACUS MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Determining whether there are indicators of impairment of the Company's intangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the assets.
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ABACUS MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2025
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ABACUS MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2025
There are no significant factors that may affect future tax charges.
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ABACUS MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2025
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ABACUS MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2025
During the period, 1 Ordinary A share of £0.01 was issued for total consideration of £6,646,000. The excess over nominal value was credited to the share premium account.
Share premium account
Profit and loss account
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ABACUS MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2025
The company is a wholly owned subsidiary of
The smallest and largest group in which these accounts are consolidated is Lumon Acquisitions Limited, and the accounts may be obtained from the registered office address of Lumon Acquisitions Limited. The ultimate controllers of this company at the Statement of financial position date were PSC III G, L.P. which is a Non-EU Alternative Investment Fund structure established in Ontario, Canada.
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