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

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

ALTERNATIVE FUNDING CENTRE LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v21.1.0.652 09556240 director 1.5.19 30.4.20 30.4.20 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure095562402019-04-30095562402020-04-30095562402019-05-012020-04-30095562402018-04-30095562402018-05-012019-04-30095562402019-04-3009556240ns16:EnglandWales2019-05-012020-04-3009556240ns15:PoundSterling2019-05-012020-04-3009556240ns11:Director12019-05-012020-04-3009556240ns11:PrivateLimitedCompanyLtd2019-05-012020-04-3009556240ns11:SmallEntities2019-05-012020-04-3009556240ns11:AuditExempt-NoAccountantsReport2019-05-012020-04-3009556240ns11:SmallCompaniesRegimeForDirectorsReport2019-05-012020-04-3009556240ns11:SmallCompaniesRegimeForAccounts2019-05-012020-04-3009556240ns11:FullAccounts2019-05-012020-04-3009556240ns11:RegisteredOffice2019-05-012020-04-3009556240ns6:CurrentFinancialInstruments2020-04-3009556240ns6:CurrentFinancialInstruments2019-04-3009556240ns6:ShareCapital2020-04-3009556240ns6:ShareCapital2019-04-3009556240ns6:RetainedEarningsAccumulatedLosses2020-04-3009556240ns6:RetainedEarningsAccumulatedLosses2019-04-3009556240ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-04-3009556240ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-04-30
REGISTERED NUMBER: 09556240 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

FOR

ALTERNATIVE FUNDING CENTRE LIMITED
ALTERNATIVE FUNDING CENTRE LIMITED (REGISTERED NUMBER: 09556240)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ALTERNATIVE FUNDING CENTRE LIMITED


COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2020







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
Page 1
ALTERNATIVE FUNDING CENTRE LIMITED (REGISTERED NUMBER: 09556240)


BALANCE SHEET
30 APRIL 2020

2020 2019
Notes £    £   
CURRENT ASSETS
Debtors 4 4,895 3,921
Cash at bank and in hand 5,693 154
10,588 4,075
CREDITORS
Amounts falling due within one year 5 8,731 3,419
NET CURRENT ASSETS 1,857 656
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,857
656

CAPITAL AND RESERVES
Called up and paid share capital 1 1
Retained earnings 1,856 655
SHAREHOLDERS' FUNDS 1,857 656

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 and authorised for issue on 22 April 2021 and were signed by:





Mr T A Thoroddsson - Director


The notes form part of these financial statements

Page 2
ALTERNATIVE FUNDING CENTRE LIMITED (REGISTERED NUMBER: 09556240)


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020


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/receivable.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other debtors 4,895 3,921

Page 3 continued...
ALTERNATIVE FUNDING CENTRE LIMITED (REGISTERED NUMBER: 09556240)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2020


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 729 707
Taxation and social security 130 41
Other creditors 7,872 2,671
8,731 3,419

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director operated a loan with the company with no fixed terms of repayment or interest. Amounts advanced during the year were £3,899 (2019 - £nil) and repayments during the year were £nil (2019 - £nil). At the year end the amount owing to the company was £3,899 (2019 - £nil).

Page 4