Zak Money Exchange Limited

Reference number: 504226

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No longer authorised

This firm is still listed on the FCA register, but the record is closed. Cover on business done while it was authorised generally still applies, and it cannot take on new regulated business. Authorisation ended 31 January 2012.

This FCA record is no longer authorised, but the company is still on the register with full FCA authorisation under FRN 508565 →.

This company holds another FCA record

A company can hold several FCA records, covering different parts of its business, and each one carries its own permissions and protection. The reference number you were given decides which record applies to you.

Website, phone number and address

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

  • No website on the FCA register

  • Last known phone number

    020 8514 8444

  • Last known address

    70 Ilford Lane, Ilford, Essex, IG1 2LA, United Kingdom

In the full report: 2 background checks

  • What kind of line 020 8514 8444 is
  • Who else gives the postcode IG1 2LA
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Past FCA permissions and consumer protection

  • The record is closed
    Cover you already have generally survives the cancellation: FSCS exists for firms that have failed, and the Financial Ombudsman Service can look at a complaint about a firm that has stopped trading, as long as the business was done while it was authorised. New business with this firm has no cover at all, because it is no longer permitted to carry it out.

FCA disciplinary action and complaints

No FCA disciplinary action. The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.

Companies House record

The company behind the firm: its status, age, registered office and directors.

Company name
COBANQ LTD
Company number
04995400
Company status
Active
Company type
Private limited company
Incorporated
15 December 2003 (22 years old)
Registered office
Level39 One Canada Square, Canary Wharf, London, E14 5AB, England
Nature of business
  • Activities auxiliary to financial intermediation not elsewhere classified (SIC 66190)

Directors and company secretaries

Name Role Born Appointed Other companies
Ahmad Shah Director Jan 1981 3 Feb 2025 1 other company
Sheroz Nadeem Director May 1997 6 Feb 2025 1 other company

Other companies run by these 2 directors

A firm is run by people, and their other companies are their track record: what they built, what closed, and anything that failed. It is the check most people never think to make.

other companies
2
still active
2

In the full report: all 2 companies, named

  • What each company does, and whether it is still trading
  • Which of these 2 directors sit on each board, and since when
  • Any that went into liquidation or administration
  • All 9 people who have ever been directors, with their dates
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Filed accounts and finances

Year to 31 March 2025Micro-entity accountsNot audited

Net assets

£330k

−1% from £334k

Employees (average)

6

Same as 6

Owed within a year

£5,260

Same as £5,260

Assets and liabilities

In the full report: all 6 years of accounts

  • Every year from 2020 to 2025
  • The chart, over every year
  • Every filed figure, year by year
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About these figures
Turnover
Money taken from sales in the year, before any costs.
Profit before tax
What was left after the year’s costs, before corporation tax. A minus figure is a loss.
Net assets, or total equity
Everything the company owns minus everything it owes. A minus figure means it owes more than it owns.
Total assets and total liabilities
Everything the company owns, and everything it owes, on the last day of the year. The gap between them is its net assets.
Cash at bank
Money in the company’s accounts on the last day of the year.
Owed within a year, owed after a year
Debts and bills due in the next twelve months, and those due later.

There is no turnover or profit: small companies do not have to publish them.

Accounts filed at Companies House for company 04995400. Every figure is as filed, apart from total assets and total liabilities, which are added up from filed figures. Nothing is estimated.

Key dates in its history

Zak Money Exchange’s history from the FCA register and Companies House, newest first.

Key events (12) All events (27)

2025

29 April 2025

  • Syed Wajhe-Ul-Hassan stopped being a part-owner

Companies House

16 January 2025

  • Ahmad Shah took control (75–100% of shares)

Companies House

2023

1 December 2023

  • Khuram Shahzad gave up control
  • Syed Wajhe-Ul-Hassan became a part-owner (25–50% of shares)

Companies House

2019

23 January 2019

  • Khuram Shahzad took control (75–100% of shares)

Companies House

1 January 2019

  • Syed Adil Hussain Shah gave up control

Companies House

2016

6 April 2016

  • Syed Adil Hussain Shah took control (75–100% of shares)

Companies House

2013

1 April 2013

  • Regulated by the FCA from this date

FCA register

2012

31 January 2012

  • Status on the FCA register became "Cancelled - Small PI"

FCA register

2009

1 November 2009

  • Regulated by the Financial Services Authority from this date

FCA register

29 July 2009

  • Supervised by HMRC under the money laundering rules from this date

FCA register

2003

15 December 2003

  • Incorporated at Companies House

Companies House

In the full report: all 27 events

  • All 27 events in its history (12 shown here)
  • Every director appointment and resignation: 14
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Firms connected to Zak Money Exchange

Other FCA-listed firms that share a director, phone number or address with Zak Money Exchange. A link shows who the firm is tied to, not whether either can be trusted.

connected firm
1
share its postcode
1

In the full report: the connected firm, named

  • How it is linked: the same postcode (1)
  • Who links it to this firm: the named directors, with dates
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Get the full report on Zak Money Exchange

Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.

  • 2 other companies its directors have run, named
  • 2 background checks on its contact details
  • 6 years of accounts, charted
  • All 27 events in its history
  • 1 connected firm, named, and who links them

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Frequently asked questions about this firm

Is Zak Money Exchange Limited FCA authorised?
No. Zak Money Exchange Limited (FRN 504226) is still listed on the FCA register, but the record is closed: no longer authorised.
Is Zak Money Exchange a scam or clone?
Zak Money Exchange is not currently authorised by the FCA. Be cautious and verify any firm on the FCA register before dealing with it.
Is my money safe with Zak Money Exchange?
Money you handed over while it was authorised generally keeps its protection: FSCS covers firms that have failed, and the Financial Ombudsman Service can look at a complaint about a firm that has stopped trading. New business with Zak Money Exchange has no cover, because it is no longer permitted to carry it out.
Who owns Zak Money Exchange?
Companies House lists one person with significant control of Zak Money Exchange: Mr Ahmad Shah (75–100% of shares). Before that, it was controlled by Mr Syed Wajhe-Ul-Hassan, Mr Syed Adil Hussain Shah and Khuram Shahzad.
Who runs Zak Money Exchange?
Companies House lists 2 directors of Zak Money Exchange: Ahmad Shah and Sheroz Nadeem.
How long has Zak Money Exchange been in business?
The company was formed on 15 December 2003.
What do Zak Money Exchange’s latest accounts show?
Its latest accounts, to 31 March 2025, show net assets of £330k (−1% from £334k).

Sources and links

The full report on Zak Money Exchange Limited

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