WIREX HOLDINGS LIMITED

• ⚠

  Material uncertainty over going concern

  The Directors have forecasted the cashflows of the Group and have determined that there are sufficient resources for the Group companies to meet their debts as they fall due for the foreseeable future, and therefore they have prepared the financial statements of the Group on a going concern basis. The Group is primarily involved in the cryptocurrency markets. The cryptocurrency markets are inherently volatile. The Group's management continually monitors its exposures to maintain requisite liquidity levels. The Directors monitor numerous risks including but not limited to the risk of a simultaneous and large volumes of customer withdrawals. In assessing the going concern of the Group, the Directors perform stress testing analysis to determine the impact of significant withdrawals of customer funds and significant adverse movements in the fair value of crypto currencies. Despite Bitcoin currently selling near its all time highest price, the results of these tests provide scenarios where the Directors acknowledge that this represents an uncertainty in relation to the going concern of the Group mainly due to the volatility of crypto asset market.

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

• Turnover

  -14.2%

  £500,415,814 → £429,337,382

• Cash

  +39.6%

  £3,109,063 → £4,339,073

• Net assets

  -139.4%

  -£991,819 → -£2,374,645

• Employees

  -9.1%

  33 → 30

• Operating profit

  +45.1%

  -£5,258,574 → -£2,887,051

• Profit before tax

  +1.2%

  -£4,037,862 → -£3,989,394

• Wages

  -3%

  £4,679,252 → £4,539,906

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

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.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

MMBA London Ltd

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Directors have forecasted the cashflows of the Group and have determined that there are sufficient resources for the Group companies to meet their debts as they fall due for the foreseeable future, and therefore they have prepared the financial statements of the Group on a going concern basis. The Group is primarily involved in the cryptocurrency markets. The cryptocurrency markets are inherently volatile. The Group's management continually monitors its exposures to maintain requisite liquidity levels. The Directors monitor numerous risks including but not limited to the risk of a simultaneous and large volumes of customer withdrawals. In assessing the going concern of the Group, the Directors perform stress testing analysis to determine the impact of significant withdrawals of customer funds and significant adverse movements in the fair value of crypto currencies. Despite Bitcoin currently selling near its all time highest price, the results of these tests provide scenarios where the Directors acknowledge that this represents an uncertainty in relation to the going concern of the Group mainly due to the volatility of crypto asset market.”

Group structure

1. WIREX HOLDINGS LIMITED · parent
   1. Wirex Limited 100% · UK · IP Development
   2. Wirex Pte Ltd 100% · Singapore · Payment card provider
   3. Wirex USA Inc. 100% · USA · Crypto settlement and clearance
   4. Wirex Pty Limited 100% · Australia · Payment card provider
   5. Wirex Digital Services S.r.l 100% · Italy · Cryptocurrency exchange
   6. Wirex International Ltd 100% · UK · Staffing and support for group
   7. Zagreb Defi Services D.o.o. 100% · Croatia · Cryptocurrency exchange, settlement and clearance

Significant events

• “The Group works with independent contractors based in Ukraine and Eastern Europe. Business continuity plans were invoked following the Russian invasion of Ukraine resulting in widespread staff relocation that allowed the work performed by the contractors to continue.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.