FCI Currency Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09795397 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st December 2022

for

FCI Currency Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,342

2,685

CURRENT ASSETS

Debtors

5

194,270

159,004

Cash at bank

27,781

79,529

222,051

238,533

CREDITORS

Amounts falling due within one year

6

90,807

74,016

NET CURRENT ASSETS

131,244

164,517

TOTAL ASSETS LESS CURRENT LIABILITIES

132,586

167,202

CREDITORS

Amounts falling due after more than one year

7

25,833

35,833

NET ASSETS

106,753

131,369

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

104,753

129,369

106,753

131,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th June 2023 and were signed on its behalf by:

M Etherington - Director

1.	STATUTORY INFORMATION

FCI Currency Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

09795397

Registered office:

30 Crown Place

London

EC2A 4EB

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.

Turnover

Turnover represents the total value of commissions received during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

Straight line over 5 years

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

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.

Government grants

Grant income during the period has been accounted for using the accruals model.

The grant is recognised in income in the period the related costs are incurred by the entity for which the grant is intended to compensate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2022

and 31st December 2022

6,711

DEPRECIATION

At 1st January 2022

4,026

Charge for year

1,343

At 31st December 2022

5,369

NET BOOK VALUE

At 31st December 2022

1,342

At 31st December 2021

2,685

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

50,529

69,807

Amounts owed by related parties

134,637

37,522

Other debtors

9,104

51,675

194,270

159,004

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

-

636

Taxation and social security

56,982

60,571

Other creditors

23,825

2,809

90,807

74,016

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

25,833

35,833

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 December 2022 and the year ended 31 December 2021:

Director 1

2022

2021

£

£

Amounts Advanced

57,414

97,761

Amounts Repaid

(70,000

)

(80,000

)

Director 2

2022

2021

£

£

Amounts Advanced

60,308

64,820

Amounts Repaid

(97,002

)

(80,000

)

The loan to the director is repayable on demand. Interest is charged on loans at the official rate set by HMRC.