FTX Group Ltd 08294336 true 2018-12-31 2019-12-30 2019-12-30 The principal activity of the company is Web portals Digita Accounts Production Advanced 6.26.9041.0 Software true Mr David Nathianel Merry 08294336 2018-12-31 2019-12-30 08294336 2019-12-30 08294336 bus:OrdinaryShareClass2 2019-12-30 08294336 core:RetainedEarningsAccumulatedLosses 2019-12-30 08294336 core:ShareCapital 2019-12-30 08294336 core:CurrentFinancialInstruments 2019-12-30 08294336 core:CurrentFinancialInstruments core:WithinOneYear 2019-12-30 08294336 core:FurnitureFittingsToolsEquipment 2019-12-30 08294336 core:OtherPropertyPlantEquipment 2019-12-30 08294336 bus:FRS102 2018-12-31 2019-12-30 08294336 bus:AuditExempt-NoAccountantsReport 2018-12-31 2019-12-30 08294336 bus:FullAccounts 2018-12-31 2019-12-30 08294336 bus:RegisteredOffice 2018-12-31 2019-12-30 08294336 bus:Director1 2018-12-31 2019-12-30 08294336 bus:OrdinaryShareClass2 2018-12-31 2019-12-30 08294336 bus:PrivateLimitedCompanyLtd 2018-12-31 2019-12-30 08294336 core:FurnitureFittings 2018-12-31 2019-12-30 08294336 core:PlantMachinery 2018-12-31 2019-12-30 08294336 countries:England 2018-12-31 2019-12-30 08294336 2018-12-30 08294336 core:FurnitureFittingsToolsEquipment 2018-12-30 08294336 core:OtherPropertyPlantEquipment 2018-12-30 08294336 2018-12-30 08294336 bus:OrdinaryShareClass2 2018-12-30 08294336 core:RetainedEarningsAccumulatedLosses 2018-12-30 08294336 core:ShareCapital 2018-12-30 08294336 core:CurrentFinancialInstruments 2018-12-30 08294336 core:CurrentFinancialInstruments core:WithinOneYear 2018-12-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08294336

FTX Group Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 December 2019

 

FTX Group Ltd

Profit and Loss Account for the Year Ended 30 December 2019

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

FTX Group Ltd

(Registration number: 08294336)
Balance Sheet as at 30 December 2019

Note

2019
£

2018
£

Current assets

 

Debtors

4

46,392

46,392

Creditors: Amounts falling due within one year

6

(75,548)

(75,548)

Net liabilities

 

(29,156)

(29,156)

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

(29,256)

(29,256)

Total equity

 

(29,156)

(29,156)

For the financial year ending 30 December 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the director on 22 September 2020
 

.........................................

Mr David Nathianel Merry
Director

 

FTX Group Ltd

Notes to the Financial Statements for the Year Ended 30 December 2019

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Office 403
34- 37 Liverpool Street
London
EC2M 7PP
England

These financial statements were authorised for issue by the director on 22 September 2020.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33% straight line

Fixtures and fittings

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

FTX Group Ltd

Notes to the Financial Statements for the Year Ended 30 December 2019

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

FTX Group Ltd

Notes to the Financial Statements for the Year Ended 30 December 2019

3

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 31 December 2018

12,765

2,026

14,791

At 30 December 2019

12,765

2,026

14,791

Depreciation

At 31 December 2018

12,765

2,026

14,791

At 30 December 2019

12,765

2,026

14,791

Carrying amount

At 30 December 2019

-

-

-

4

Debtors

Note

2019
£

2018
£

Amounts owed by related parties

28,890

28,890

Other debtors

 

17,502

17,502

 

46,392

46,392

5

Cash and cash equivalents

2019
£

2018
£

6

Creditors

Note

2019
£

2018
£

Due within one year

 

Loans and borrowings

8

55,198

55,198

Trade creditors

 

264

264

Amounts due to related parties

674

674

Social security and other taxes

 

4,501

4,501

Other payables

 

11,511

11,511

Accruals

 

3,400

3,400

 

75,548

75,548

 

FTX Group Ltd

Notes to the Financial Statements for the Year Ended 30 December 2019

7

Share capital

Allotted, called up and fully paid shares

 

2019

2018

 

No.

£

No.

£

Ordinary shares of £ 1 each

100

100

100

100

         

8

Loans and borrowings

2019
£

2018
£

Current loans and borrowings

Bank borrowings

55,198

55,198