Altaif Money Transfer Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08925736 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2026

for

Altaif Money Transfer Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

Farhan Saddam Rahmah Al-Musawi

Ali Mirzaey Esfahani

REGISTERED OFFICE:

1350 Greenford Road

Greenford

London

England

UB6 0HL

REGISTERED NUMBER:

08925736 (England and Wales)

ACCOUNTANTS:

Merali's Chartered Accountants

Scottish Provident House

76-80 College Road

Harrow

Middlesex

HA1 1BQ

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Altaif Money Transfer Limited for the year ended 31 July 2026 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Altaif Money Transfer Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Altaif Money Transfer Limited and state those matters that we have agreed to state to the Board of Directors of Altaif Money Transfer Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Altaif Money Transfer Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Altaif Money Transfer Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Altaif Money Transfer Limited. You consider that Altaif Money Transfer Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Altaif Money Transfer Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Merali's Chartered Accountants

Scottish Provident House

76-80 College Road

Harrow

Middlesex

HA1 1BQ

3 September 2026

FIXED ASSETS

Tangible assets

4

221,127

237,290

CURRENT ASSETS

Debtors

5

676,985

777,075

Cash at bank and in hand

230,425

201,505

907,410

978,580

CREDITORS

Amounts falling due within one year

6

(1,284,660

)

(1,142,745

)

NET CURRENT LIABILITIES

(377,250

)

(164,165

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(156,123

)

73,125

CAPITAL AND RESERVES

Called up share capital

8

300,100

Retained earnings

9

(456,223

)

(226,975

)

SHAREHOLDERS' FUNDS

(156,123

)

73,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2026 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2026 and were signed on its behalf by:

Ali Mirzaey Esfahani - Director

1.	STATUTORY INFORMATION

Altaif Money Transfer Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents commissions and foreign exchange income and is measured at the fair value of the consideration received or receivable, excluding any discounts and rebates. Revenue is recognised once a transaction is contracted with the customer.

Tangible fixed assets

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

Improvements to property - Edgware Road - 12.5% on cost - straight line

Improvements to property - Greenford - 5% on cost - straight line.

Iron safe - 10% on cost

Furniture, fixture & fittings - 20% on cost

Computer & office equipment - 20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Operating lease commitments

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

Going concern

The Company has experienced a significant decline in business activity and has continued to incur losses. In response, the directors have implemented cost-reduction and restructuring measures, including reductions in staffing and operating expenditure, and continue to review the Company's revenue opportunities. The management intends to work with the FCA to address the regulatory capital position.

Notwithstanding the material uncertainty on going concern, the directors expect the Company to continue trading and are taking steps to stabilise the business and improve its financial performance. Having considered the Company's financial position, available resources and expected future trading, the directors consider that the Company will be able to continue in operational existence for the foreseeable future.

Accordingly, the financial statements have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2025 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2025

and 31 July 2026

397,051

DEPRECIATION

At 1 August 2025

159,761

Charge for year

16,163

At 31 July 2026

175,924

NET BOOK VALUE

At 31 July 2026

221,127

At 31 July 2025

237,290

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

621,356

611,625

Other debtors

55,629

165,450

676,985

777,075

Included within trade debtors ia a receivable amount of £618,555 (2025:£615,270) that is under legal dispute.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade creditors

1,165,187

1,003,691

Other creditors

119,473

139,054

1,284,660

1,142,745

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

Within one year

35,000

Between one and five years

140,000

In more than five years

385,000

420,000

560,000

595,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

300,100

Ordinary

1

300,100

9.

RESERVES

Retained

earnings

£

At 1 August 2025

(226,975

)

Deficit for the year

(229,248

)

At 31 July 2026

(456,223

)

10.	RELATED PARTY DISCLOSURES

Balance payable to Altaif Islamic Bank as at the year end is £1,164,587 (2025: £996,591). Altaif Islamic Bank is a related party by virtue of common control. This balance has resulted from money remittances business between the two parties, as Altaif Islamic Bank acts as the main payment partner for the company. Commission income of £39,000 received from Altaif Islamic Bank during the year, conducted at arms length. Commission charges of £94,888 charged by Altaif Islamic Bank during the year, conducted at arms length, Software costs of £6,048 charged by Altaif Islamic Bank during the year, conducted at arms length.

At the balance sheet date, the director loan balance of Farhan Al-Musawi was £1,445 credit balance (2025:Nil).