| |
|
2026 |
|
2025 |
| |
|
£ |
£ |
|
£ |
£ |
| Fixed assets |
|
|
1,590 |
|
|
1,939 |
| Current assets |
|
6,543 |
|
|
22,601 |
|
| Prepayments and accrued income |
|
0 |
|
|
(70,000) |
|
| Creditors: amount falling due within one year |
|
(31,680) |
|
|
0 |
|
|
Net current assets
|
|
|
(25,137)
|
|
|
(47,399)
|
|
Total assets less current liabilities
|
|
|
(23,547) |
|
|
(45,460) |
| Creditors: amount falling due after more than one year |
|
|
(5,044) |
|
|
(14,601) |
|
Net assets
|
|
|
(28,591) |
|
|
(60,061) |
| |
|
|
|
|
|
|
|
Capital and reserves
|
|
|
(28,591) |
|
|
(60,061) |
| |
NOTES TO THE ACCOUNTS
General Information
CURRENCY NETWORK LTD is a private company, limited by shares, registered in England and Wales, registration number 14603405, registration address 71-75 SHELTON STREET, COVENT GARDEN LONDON, WC2H 9JQ.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
At 31 January 2026 the company had net liabilities and made a loss for the year. The directors have confirmed their continued financial support and expect the company to meet its liabilities as they fall due for at least 12 months from the date of approval of these accounts. The accounts have therefore been prepared on a going concern basis.
Turnover
Turnover represents amounts receivable for services provided during the year, excluding VAT.
Research and development expenditure
Research and development expenditure is written off to the profit and loss account in the year in which it is incurred.
Foreign currencies
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken to the profit and loss account.
Taxation
Research and development tax credits are recognised in the profit and loss account when received.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis-Computer equipment 18% reducing balance
During the year the depreciation method for computer equipment was changed from 36 months straight line to 18% reducing balance, applied from 1 February 2025.
| Computer Equipment |
18 Reducing Balance
|
|
| 2. |
Tangible fixed assets
| Cost or valuation |
Computer Equipment |
|
Total |
| |
£ |
|
£ |
| At 01 February 2025 |
1,939 |
|
1,939 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 January 2026 |
1,939 |
|
1,939 |
| Depreciation |
| At 01 February 2025 |
- |
|
- |
| Charge for year |
349 |
|
349 |
| On disposals |
- |
|
- |
| At 31 January 2026 |
349 |
|
349 |
| Net book values |
| Closing balance as at 31 January 2026 |
1,590 |
|
1,590 |
| Opening balance as at 01 February 2025 |
1,939 |
|
1,939 |
|
| 3. |
Average number of employees Average number of employees during the period was 0 (2025 : 1). |
For the year ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts.
The financial statements were approved by the director on 30 October 2026 and were signed by: --------------------------------
Rajib GHOSH
Director |
1
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