EXCHANGE4FREE LTD
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-06-24 (in 1mo)
Last made up 2025-06-10
Watchouts
None on the register
Cash
£4M
-47.7% lowest in 5 filed years
Net assets
£1M
-82.4% lowest in 5 filed years
Employees
43
-17.3% lowest in 5 filed years
Profit before tax
-£5M
-324.4% vs 2022
Net assets
5-year trend · vs Financials median
Accounts
5-year trend · latest reflected 2023-12-31
Latest accounts filed cover 2024-12-31; financial figures currently reflect up to 2023-12-31.
| Metric | Trend | 2020-05-31 | 2021-05-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 |
|---|---|---|---|---|---|---|
| Turnover | — | — | — | £6,737,903 | £3,032,166 | |
| Operating profit | — | — | — | -£1,190,942 | -£5,229,679 | |
| Profit before tax | — | — | — | -£1,236,882 | -£5,249,479 | |
| Net profit | — | — | — | — | — | |
| Cash | £11,045,331 | £8,043,142 | £9,501,172 | £8,005,982 | £4,187,144 | |
| Total assets less current liabilities | £4,077,181 | £4,824,742 | £9,186,486 | £8,215,182 | £1,149,012 | |
| Net assets | £4,026,109 | £4,816,644 | £8,136,219 | £6,370,045 | £1,120,566 | |
| Equity | £4,026,109 | £4,816,644 | £8,136,219 | £6,370,045 | £1,120,566 | |
| Average employees | 46 | 45 | 50 | 52 | 43 | |
| Wages | — | — | — | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2020-05-31 | 2021-05-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 |
|---|---|---|---|---|---|---|
| Operating margin | — | — | — | -17.7% | -172.5% | |
| Return on capital employed | — | — | — | -14.5% | -455.1% | |
| Interest cover | — | — | — | -25.92x | -264.13x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- KLSA LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Having duly considered these positive indicators alongside the principal risks and uncertainties applicable to the business, the directors have concluded that it is appropriate to prepare the financial statements on a going concern basis.”
Group structure
- EXCHANGE4FREE LTD · parent
- EPAL Technology Limited 98%
- Exchange4Free Seychelles Company 100%
Significant events
- “Toward the end of 2024, Exchange4free Limited implemented an employee retrenchment to better align workload with staffing levels.”
- “During the year the Australian branch was deregistered by ASIC under S601CL of the Corporation Act 2001 as the branch was not carrying on business in Australia.”
- “EPAL Technology Limited (Nigeria) was wound up during the year and has been fully impaired.”
- “As of 31 December 2024, the shares of the company are pledged in favour of dLocal Group Limited.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DRYDEN, Callum Douglas Spencer | Director | 2021-08-24 | Oct 1985 | British |
| GOUVEIA, Adam Michel | Director | 2021-08-24 | Jun 1982 | American |
| INUWA, Muhammad | Director | 2021-08-24 | Jul 1982 | Nigerian |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HORAN, Brendan Patrick | Secretary | 2004-06-10 | 2006-04-30 |
| LAWSON, Mark William | Secretary | 2006-04-01 | 2011-06-11 |
| FILMER, Peter Claude | Director | 2004-06-10 | 2022-08-24 |
| HORAN, Brendan Patrick | Director | 2004-06-10 | 2006-04-30 |
| LAWSON, Mark William | Director | 2005-08-31 | 2022-01-28 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Newurth S.A. | Corporate entity | Shares 75–100% | 2024-03-22 | Active |
| Btc Africa Sa | Corporate entity | Shares 75–100% | 2021-08-24 | Ceased 2024-03-22 |
| Mr Peter Claude Filmer | Individual | Shares 25–50%, ownership-of-shares-25-to-50-percent-as-firm, Voting 25–50% | 2016-06-10 | Ceased 2021-08-24 |
| Mr Mark William Lawson | Individual | Shares 25–50%, Voting 25–50%, right-to-appoint-and-remove-directors-as-firm | 2016-06-10 | Ceased 2021-08-24 |
Filing timeline
Last 20 of 93 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-12-06 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-10-04 | AA | accounts | Accounts with accounts type full | |
| 2025-06-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-03-07 | AAMD | accounts | Accounts amended with accounts type full | |
| 2025-03-07 | AAMD | accounts | Accounts amended with accounts type full | |
| 2025-03-07 | AAMD | accounts | Accounts amended with accounts type full | |
| 2025-03-07 | AAMD | accounts | Accounts amended with accounts type full | |
| 2025-03-07 | AAMD | accounts | Accounts amended with accounts type full | |
| 2024-12-06 | MA | incorporation | Memorandum articles | |
| 2024-07-22 | AA | accounts | Accounts with accounts type total exemption full | |
| 2024-06-24 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-05-10 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2024-05-10 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-03-27 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-12-19 | AA | accounts | Accounts with accounts type unaudited abridged | |
| 2023-06-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-12-30 | AA | accounts | Accounts with accounts type unaudited abridged | |
| 2022-09-12 | TM01 | officers | Termination director company with name termination date | |
| 2022-06-22 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-05-25 | AA | accounts | Accounts with accounts type unaudited abridged | |
| 2022-04-27 | DISS40 | gazette | Gazette filings brought up to date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2022 → FY2023 · period ending 2023-12-31 vs 2022-12-31
-
Turnover
-55%
£6,737,903 £3,032,166
-
Cash
-47.7%
£8,005,982 £4,187,144
lowest in 5 filed years
-
Net assets
-82.4%
£6,370,045 £1,120,566
lowest in 5 filed years
-
Employees
-17.3%
52 43
lowest in 5 filed years
-
Operating profit
-339.1%
-£1,190,942 -£5,229,679
-
Profit before tax
-324.4%
-£1,236,882 -£5,249,479
Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers