Alternative Funding Centre Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09556240 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2019

FOR

ALTERNATIVE FUNDING CENTRE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr T A Thoroddsson

REGISTERED OFFICE:

Fulford House

Newbold Terrace

Leamington Spa

CV32 4EA

REGISTERED NUMBER:

09556240 (England and Wales)

ACCOUNTANTS:

TGFP

Chartered Accountants

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

CURRENT ASSETS

Debtors

4

3,921

-

Cash at bank and in hand

154

4,826

4,075

4,826

CREDITORS

Amounts falling due within one year

5

3,419

3,351

NET CURRENT ASSETS

656

1,475

TOTAL ASSETS LESS CURRENT LIABILITIES

656

1,475

CAPITAL AND RESERVES

Called up and paid share capital

1

1

Retained earnings

655

1,474

SHAREHOLDERS' FUNDS

656

1,475

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 2 December 2019 and were signed by:

Mr T A Thoroddsson - Director

1.	STATUTORY INFORMATION

Alternative Funding Centre Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Financial instruments

Basic financial assets, which include debtors and cash and bank balances, are initially measured at

transaction price including transaction costs and are subsequently carried at amortised cost using the

effective interest method unless the arrangement constitutes a financing transaction, where the

transaction is measured at the present value of the future receipts discounted at a market rate of

interest. Financial assets classified as receivable within one year are not amortised.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and

Retained Earnings, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Going concern

The financial statements have been prepared on the going concern concept. This assumes that the

company will achieve a profitable level of trading and will continue to enjoy the support of it's bankers

and creditors. The financial statements do not account for any adjustments that would be required if

the company was unable to achieve these objectives.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

3,921

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

707

366

Taxation and social security

41

41

Other creditors

2,671

2,944

3,419

3,351