# Currency Matters Limited (04461030)

> Why UK company 04461030 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04461030

- **Status:** In administration
- **Administration began:** 2025-10-06
- **Administrators:** Allister Manson, Franklyn Ofonagoro
- **Administrators' firm:** Opus Restructuring
- **Incorporated:** 2002-06-13
- **Location:** Milton Keynes
- **Industry:** 64999 Financial intermediation not elsewhere classified

## Why it went into administration

- Regulatory change or action
- Management failings / irregularities

## From the administrators' statement

As detailed in the executive summary, On 1 September 2025, a supervisory notice was issued by the FCA which the Restrictions on the Company. The FCA took this action because it had concerns with the Company meeting its conditions of authorisation including, that it was safeguarding customer funds and, with the solvency of the Company. In the six months leading up to this, the FCA had raised certain concerns about the Company’s prudential and safeguard position.

The FCA's concerns about the safeguarding and prudential position were magnified by the Company’s lack of reporting to the FCA and failure to provide full and complete information to enquiries the FCA had put to the Company who later provided information to the FCA suggesting there had been an alleged misappropriation of customer funds and as a result, there was a potential shortfall of safeguarded funds. This was magnified by the uncertainty over the Company's prudential position due to the lack of financial reporting to the FCA, filings with Companies House and, failure to provide full and complete responses to the FCA’s enquiries in this regard.

In light of the concerns identified by the FCA, summarised in its feedback letter to the Company on 29 July 2025, the FCA requested that the Directors seek insolvency advice.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04461030/filing-history/MzQ5MTE0MjcyM2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04461030

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.