RE: Angra Financials10 Oct 2024 13:40
Business Review
The Company manages a licensed payments firm regulated by the Financial Conduct Authority (FCA), ensuring compliance with the highest industry standards. It is committed to maintaining and expanding its operations, with plans to continue serving its clients and stakeholders for the foreseeable future. The Company's adherence to regulatory requirements underscores its dedication to providing secure and reliable payment solutions. ·
The Company focuses on transaction volumes, tumover, and profit before tax as its primary key performance indicators (KPls) to gauge financial performance. This strategic focus allows the business to comprehensively assess its operational efficiency and financial health. During the year to 31 March 2024, the turnover for the business was £645,031 (2023: £524,517), this marks an increase of approximately 22.99%. The company has shown a significant increase in revenue over a 12-month period in FY2024 compared to the 18-month period in the previous financial year, highlighting improved operational efficiency and business growth. The ')et loss before interest, taxes, depreciation· and amortization (EBITDA) decreased by approximately 71.77% to 2024 £15,585 (2023:
£79,571). At 31 March 204, the company had assets of £988,262 (2023: £1,337,960). At 31 March 2024 the Company had £128.,619 in cash and cash equivalents (2023: £577,037).
Market Expansion
The Company's ongoing efforts to penetrate new markets and diversify our customer base tiave been highly successful. The Company have made significant strides in establishing a presence in previously untapped regions, thereby broadening the reach and increasing brand recognition. The Company strategic initiatives have enabled to engage with a wider clientele and cater to a diverse array of customer needs.
Financial Review
Over the course of the financial year covering from 01 April 2023 to 31 March 2024, the company faced a notable increase in revenue growth, evident from a total revenue of
£645,031, which marked a significant increase compared to the £524,517 achieved in the preceding year FY2023. Administrative expenses also experienced an upward trend, amounting to £850,855 compared to £599,794 in_ 2023. ·