FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED - Company Information

Print Friendly Version

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Company Registration Number:
05647595 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2021

Period of accounts

Start date: 01 January 2021

End date: 31 December 2021

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2021

Balance sheet
Notes

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Balance sheet

As at 31 December 2021


Notes
2021
2020


£
£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 133,478 80,177
Investments: 4 586,693 786,232
Total fixed assets: 720,171 866,409
Current assets
Stocks: 0 0
Debtors:   2,745,267 3,642,105
Cash at bank and in hand: 572,082 1,008,378
Investments:   0 0
Total current assets: 3,317,349 4,650,483
Creditors: amounts falling due within one year:   (2,233,311) (4,327,788)
Net current assets (liabilities): 1,084,038 322,695
Total assets less current liabilities: 1,804,209 1,189,104
Creditors: amounts falling due after more than one year:   (41,340) 0
Provision for liabilities: 0 0
Total net assets (liabilities): 1,762,869 1,189,104
Capital and reserves
Called up share capital: 1,300,001 1,300,001
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 462,868 (110,897)
Shareholders funds: 1,762,869 1,189,104

The notes form part of these financial statements

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Balance sheet statements

For the year ending 31 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 11 April 2022
and signed on behalf of the board by:

Name: Dave Dominy
Status: Director

The notes form part of these financial statements

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods andservices supplied during the period, exclusive of Value Added Tax and discounts

Tangible fixed assets and depreciation policy

Depreciation is provided, after taking account of any grants receivable, at the following rates in order to write off each asset over its estimated useful life. Leasehold improvements - the shorter of 5 years straight-line or term of lease, Fixtures and fittings - 20% of cost

Valuation and information policy

Costs includes all direct expenditures and an appropriate proportion of fixed and variable overheads

Other accounting policies

No hire purchase contracts or finance leases exist. Rentals paid under operating lease are charged to the profit and loss account on a straight-line basis over the period of the lease.

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

2. Employees

2021 2020
Average number of employees during the period 11 11

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

3. Tangible Assets

Total
Cost £
At 01 January 2021 486,803
Additions 169,451
Disposals 0
Revaluations 0
Transfers 0
At 31 December 2021 656,254
Depreciation
At 01 January 2021 406,626
Charge for year 116,150
On disposals 0
Other adjustments 0
At 31 December 2021 522,776
Net book value
At 31 December 2021 133,478
At 31 December 2020 80,177

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

4. Fixed investments

Investments are term deposits with financial institutions used as collateral for securing the Company's foreign exchange trading facilities.