Attara Limited (formerly FP Commodities Ltd) Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14018782

Attara Limited (formerly FP Commodities Ltd)

Filleted Financial Statements

31 December 2025

Attara Limited (formerly FP Commodities Ltd)

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	2,512,681	2,438,624

Current assets

Debtors	6	482,161	4,300,718
Cash at bank and in hand		10,099	397,855
		---------	------------
		492,260	4,698,573

Creditors: amounts falling due within one year	7	3,164,647	6,373,217
		------------	------------
Net current liabilities		2,672,387	1,674,644
		------------	------------
Total assets less current liabilities		( 159,706)	763,980
		---------	---------
Net (liabilities)/assets		( 159,706)	763,980
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 159,806)	763,880
	---------	---------
Shareholders (deficit)/funds	( 159,706)	763,980
	---------	---------

These 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 statement of income and retained earnings has not been delivered.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 1 October 2026 , and are signed on behalf of the board by:

Mr R de Meo
Director

Company registration number: 14018782

Attara Limited (formerly FP Commodities Ltd)

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1-3 Worship Street, 2nd Floor, C/O Buckworths, London, England, EC2A 2AB. The company changed its name from FP Commodities Ltd to Attara Limited on 17 September 2024.

2. Statement of compliance

These 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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

Revenue from the sale of services is recognised upon monthly settlements of the client swap positions and only when the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	over 10 years on a straight-line basis
Development costs	-	over 7 years on a straight-line basis

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 17 (2024: 18 ).

5. Intangible assets

	Goodwill	Development costs	Total
	£	£	£
Cost
At 1 January 2025	2,500,000	511,728	3,011,728
Additions	–	463,354	463,354
	------------	---------	------------
At 31 December 2025	2,500,000	975,082	3,475,082
	------------	---------	------------
Amortisation
At 1 January 2025	500,000	73,104	573,104
Charge for the year	250,000	139,297	389,297
	------------	---------	------------
At 31 December 2025	750,000	212,401	962,401
	------------	---------	------------
Carrying amount
At 31 December 2025	1,750,000	762,681	2,512,681
	------------	---------	------------
At 31 December 2024	2,000,000	438,624	2,438,624
	------------	---------	------------

6. Debtors

	2025	2024
	£	£
Trade debtors	–	2,582,637
Other debtors	482,161	1,718,081
	---------	------------
	482,161	4,300,718
	---------	------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	238,462	149,240
Amounts owed to group undertakings and undertakings in which the company has a participating interest	2,514,290	782,432
Social security and other taxes	390,295	681,098
Other creditors - Client deposits	–	4,737,832
Other creditors	21,600	22,615
	------------	------------
	3,164,647	6,373,217
	------------	------------

8. Summary audit opinion

The auditor's report dated 1 October 2026 was unqualified .

The senior statutory auditor was Fenton William Higgins , for and on behalf of Higgins Fairbairn & Co .

9. Related party transactions

At the balance sheet date, the Company is owed £463,432 by FNX Technologies Limited (2024: £105,173), a related undertaking in which Mr R de Meo is a sole director and shareholder. During the year, a management charge of £Nil (2024: £650,000) was paid to Foenix Partners Limited (FPL), the sole shareholder of the company. At the year end, the company owed £2,514,290 to FPL (2024: £782,432). The transactions were carried out at arm’s length and on normal commercial terms.