Company Registration No. 10754098 (England and Wales)
MFP Trading Ltd
Unaudited accounts
for the year ended 31 May 2026
MFP Trading Ltd
Company Information
for the year ended 31 May 2026
Directors
Francois Nembrini
Antoine Bienvenu Georges Nembrini
19 CB Trading
Company Number
10754098 (England and Wales)
Registered Office
4th Floor Upper Mezzanine
Becket House
36 Old Jewry
London
England
EC2R 8DD
United Kingdom
Accountants
ABVK Limited
M25 Business Centre, Ability House
121 Brooker Road
Waltham Abbey
Essex
EN9 1JH
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
MFP Trading Ltd
for the year ended 31 May 2026
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
MFP Trading Ltd for the year ended
31 May 2026 as set out on pages
5 -
9 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
ABVK Limited
Chartered Certified Accountants
M25 Business Centre, Ability House
121 Brooker Road
Waltham Abbey
Essex
EN9 1JH
15 September 2026
MFP Trading Ltd
Statement of financial position
as at 31 May 2026
Intangible assets
675,000
-
Tangible assets
68,431
25,082
Cash at bank and in hand
3,059,927
1,627,582
Creditors: amounts falling due within one year
(1,508,574)
(226,125)
Net current assets
1,738,441
1,419,891
Total assets less current liabilities
2,481,872
1,444,973
Creditors: amounts falling due after more than one year
(524,437)
(601,349)
Provisions for liabilities
Deferred tax
(175,830)
(6,270)
Net assets
1,781,605
837,354
Called up share capital
245
245
Share premium
1,127,222
1,127,222
Profit and loss account
654,138
(290,113)
Shareholders' funds
1,781,605
837,354
For the year ending 31 May 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2026 and were signed on its behalf by
Francois Nembrini
Director
Company Registration No. 10754098
MFP Trading Ltd
Notes to the Accounts
for the year ended 31 May 2026
MFP Trading Ltd is a private company, limited by shares, registered in England and Wales, registration number 10754098. The registered office is 4th Floor Upper Mezzanine, Becket House, 36 Old Jewry, London, England, EC2R 8DD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
Computer equipment
25% reducing balance
Intangible fixed assets comprise the company’s software platform, including source code, database structures, APIs, and deployment tools. These assets are recognised when it is probable that future economic benefits will arise and the cost can be measured reliably. Intangible assets are initially measured at cost and subsequently stated at cost less accumulated amortisation and any impairment losses.
The software platform is amortised on a straight‑line basis over its estimated useful economic life. The company has determined a useful life of four years, reflecting the expected period over which the technology will generate economic benefits. Amortisation is therefore charged at 25% per annum. Useful lives and residual values are reviewed at each reporting date and adjusted if necessary.
Internally generated development costs are capitalised only when the recognition criteria in FRS 102 Section 18 are met, including technical feasibility, intention and ability to complete the asset, and reliable measurement of costs. Research expenditure is expensed as incurred. Subsequent expenditure is capitalised only when it enhances the existing platform and future economic benefits are expected to arise.
The company assesses intangible assets for indicators of impairment at each reporting date. Where impairment is identified, the asset is written down to its recoverable amount.
MFP Trading Ltd
Notes to the Accounts
for the year ended 31 May 2026
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Expenditure on research and development is written off in the year in which it is incurred.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Other
Charge for the year
225,000
MFP Trading Ltd
Notes to the Accounts
for the year ended 31 May 2026
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2025
26,151
48,418
74,569
Additions
11,440
53,480
64,920
At 31 May 2026
37,591
101,898
139,489
At 1 June 2025
19,004
30,483
49,487
Charge for the year
3,717
17,854
21,571
At 31 May 2026
22,721
48,337
71,058
At 31 May 2026
14,870
53,561
68,431
At 31 May 2025
7,147
17,935
25,082
Amounts falling due within one year
Other debtors
4,308
18,434
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2026
2025
Bank loans and overdrafts
7,574
12,422
Trade creditors
1,330,007
7,929
Taxes and social security
139,155
34,244
Other creditors
31,838
171,530
8
Creditors: amounts falling due after more than one year
2026
2025
Other creditors
524,437
592,047
MFP Trading Ltd
Notes to the Accounts
for the year ended 31 May 2026
9
Transactions with related parties
During the year, the company received consultancy and marketing services from 19 CB Trading, a company registered in France. François Nembrini and Antoine Nembrini, directors of MFP Trading Limited, are also directors and shareholders of 19 CB Trading. The total value of services provided amounted to £477,315.
The company also acquired an online trading platform from FXDEV Markets Execution Project Management Services, a company incorporated in the United Arab Emirates. The purchase price, including installation and associated set up costs, was £1,050,000. François Nembrini is the sole director and shareholder of FXDEV Markets Execution Project Management Services.
All transactions were undertaken on an arm’s length basis. The outstanding balance at the year-end was £1,050,000.
In 2025, 19 CB Trading provided a loan of $53,503 to support the company’s USD trading activities. At 31 May 2026, the remaining outstanding balance owed to 19 CB Trading was $7,697.
10
Average number of employees
During the year the average number of employees was 2 (2025: 2).