BA Exchange Company (UK) Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—6

1. General Information

BA Exchange Company (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07314397 . The registered office is 131 Whitechapel Road, Ground Floor, London, E1 1DT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

The directors believe that the going concern basis is not appropriate as the company has no realistic alternative but to cease trading (or go into liquidation, or the directors intend to cease trading or place the company into liquidation) (Explain the basis of the conclusion and accounting policies applied in preparing the financial statements etc.)

The directors consider that the Company will be able to rely upon sufficient additional support from the parent undertaking for at least the next 12 month or by arranging funds by way of the inter company position the Board of the Bank has approved this, to allow the Company to be able to meet all its commitments as they fall due.

Therefore the directors consider that the going concern basis is appropriate in respect of the financial statements for the year ended 31 December 2025.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Commission income

Income from remittance services is recognised when a customer gives instructions to the Company to make a

remittance on their behalf.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

25% Reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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BA Exchange Company (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. Financial Instruments

The Company only enters into basic financial instruments 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 non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an

asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of financial position 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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2.6. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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 the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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BA Exchange Company (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.7. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Cash at bank and in hand

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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 4)

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 January 2025	23,698

As at 31 December 2025	23,698

Depreciation
As at 1 January 2025	21,332
Provided during the period	473

As at 31 December 2025	21,805

Net Book Value
As at 31 December 2025	1,893

As at 1 January 2025	2,366

5. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	9,000	11,623

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	553,942	425,311
Other creditors	7,044	1,355
Taxation and social security	4,878	3,712

	565,864	430,378

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BA Exchange Company (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	300,000	300,000

8. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Later than one year and not later than five years	63,000	99,000

	63,000	99,000

9. Reserves

	Profit and Loss Account
	£
As at 1 January 2025	(685,697 )
Loss for the year and total comprehensive income	(143,597 )

As at 31 December 2025	(829,294 )

Profit and loss account

The profit and loss account consists of the profits retained within the business and is recorded at historic cost.

10. Related Party Transactions

Transactions with related parties

During the year the company entered into the following transactions with related parties:

All of the Company's remittances are routed through it's parent entity Bank Asia Limited as part of the normal business cycles, these transactions are at arms length, these amounts have no transactional value and purely for settlement. All commission income is earned from the remitters. There is a position at the year end included in Trade Creditors of £553,942 (2024 - £425,310)

11. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Bank Asia Limiled . Bank Asia Limiled was incorporated in Bangladesh. Copies of the group accounts may be obtained from the secretary, Head Office Bank Asia Corporate Office, Rangs Tower, 32-34, Kazi Nazrul Islam Avenue, Kawran Bazar Dhaka-1000, Bangladesh . The ultimate controlling party is Bank Asia Limiled who controls 100% of the shares of BA Exchange Company (UK) Limited .

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BA Exchange Company (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

13. Audit Information

The auditor's report on the accounts of BA Exchange Company (UK) Limited for the year ended 31 December 2025 was unqualified.

The auditor's report was signed by Anwar F Chowdhury FCCA (Senior Statutory Auditor) for and on behalf of ACN Accountants Chartered Certified Accountants and Registered Auditors , Statutory Auditor.

ACN Accountants Chartered Certified Accountants and Registered Auditors

41 Orsett Road

Grays

Essex

United Kingdom

RM17 5DS

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,893		2,366

			1,893		2,366
CURRENT ASSETS
Debtors	5	9,000		11,623
Cash at bank and in hand		25,677		30,692

		34,677		42,315
Creditors: Amounts Falling Due Within One Year	6	(565,864 )		(430,378 )

NET CURRENT ASSETS (LIABILITIES)			(531,187 )		(388,063 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(529,294 )		(385,697 )

NET LIABILITIES			(529,294 )		(385,697 )

CAPITAL AND RESERVES
Called up share capital	7		300,000		300,000
Profit and Loss Account			(829,294 )		(685,697 )

SHAREHOLDERS' FUNDS			(529,294)		(385,697)