WINDSOR MARKETS (KENYA) LIMITED
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
A

Statement of Profit or Loss and Other Comprehensive Income
For the period ending 31st December 2023
31st December 2023

31st December 2022

Audited

Audited

Kshs

Kshs

Revenue

41,918,499

7,835,554

Direct Costs(23,390,547)(5,285,243)

Gross Profit

18,527,952

2,550,311

Other Operating Income

1,370,090

1,509,147

Finance income

78,031,127

2,381,158

Administrative expenses(68,738,589)(57,818,475)

Other Operating expenses(7,497,920)(7,765,303)

Operating Profit / (Loss)

21,692,660(59,143,162)

Finance Costs(2,674,508)(3,101,044)

Profit / (Loss) before tax

19,018,152(62,244,206)(411,027)(452,744)

18,607,125(62,696,950)

Tax Charge
Profit / (Loss) for the year

B

Statement of Financial Position
For the period ending 31st December 2023
31st December 2023
Audited
Kshs

31st December 2022
AuditedKshs

Non-Current Assets
Property and Equipment
Right-of-use-assets
Total Non-Current Assets

8,053,187
15,570,200
23,623,387

9,072,241
20,361,032
29,433,273

Current Assets
Other Receivables
Cash and Cash Equivalents
Total Current Assets

260,366,370
111,799,248
372,165,618

246,304,253
90,386,593
336,690,846

Total Assets

395,789,005

366,124,119

EquityShare Capital
Share Capital Reserve
Retained Earnings/(accumulated losses)
Total Equity

220,000,000
215,838,217(80,540,717)
355,297,500

220,000,000(99,147,842)
120,852,158

Non-Current Liabilities
Deposit for shares
Lease Liabilities
Total Non-Current Liabilities

13,868,105
13,868,105

215,838,217
18,505,601
234,343,818

Current Liabilities
Trade and Other Payables
Client Funds
Lease Liabilities
Tax Payable
Total Current Liabilities

3,008,594
18,700,482
4,637,496
276,828
26,623,400

2,115,321
4,868,741
3,717,299
226,782
10,928,143

Total Equity and Liabilities

395,789,005

366,124,119

AssetsEquity and Liabilities

C OTHER DISCLOSURES
1
a.
b.
(a-b)
2
a.
b.
(a-b)
3
a.
b.
(a-b)

Kshs

Kshs

Capital Strength
Paid Up Capital
Minimum Capital Required

220,000,000
30,000,000

220,000,000
30,000,000

Excess/ (Deficiency)

190,000,000

190,000,000

Shareholders’ Funds
Total Shareholders’ Funds
Minimum Shareholders' Fund Required

355,297,500
30,000,000

120,852,158
30,000,000

Excess/ (Deficiency)

325,297,500

90,852,158

Liquid Capital
For Investment Banks, Stock Brokers and Dealers
Liquid Capital
Minimum Liquid Capital (the higher of Kshs 30m and 8% Liabilities)

345,237,944
30,000,000

110,091,229
30,000,000

Excess/ (Deficiency)

315,237,944

80,091,229

4

Client fundsa.
b.

Total Clients Creditors
Total Clients’ cash and bank balances

18,700,482
20,658,193

4,868,741
6,279,990

Excess/ (Deficiency)

1,957,711

1,411,249(a-b)

The above are extracts from the audited financial statements of Windsor Markets (Kenya) Limited for theyear ended 31st December 2023 and approved by the Board for issue and publication on the 26 th of March2024.

Stephen Kigwa
Chairperson

Martin Ngugi
Chief Executive Director

Windsor Markets (Kenya) Limited is a Non-Dealing Online Foreign Exchange Broker registered andincorporated in the Republic of Kenya, under the Companies Act No. 17 of 2015 and regulated by the CapitalMarkets Authority (License No.156)