FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED - Company Information

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FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Company Registration Number:
05647595 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Notes

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Balance sheet

As at 31 December 2022


Notes
2022
2021


£
£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 50,562 133,477
Investments: 4 1,100,309 586,695
Total fixed assets: 1,150,871 720,172
Current assets
Stocks: 0 0
Debtors:   902,772 2,745,266
Cash at bank and in hand: 1,956,566 572,082
Investments:   0 0
Total current assets: 2,859,338 3,317,348
Creditors: amounts falling due within one year:   (2,903,033) (2,233,311)
Net current assets (liabilities): (43,695) 1,084,037
Total assets less current liabilities: 1,107,176 1,804,209
Creditors: amounts falling due after more than one year:   0 (41,340)
Provision for liabilities: 0 0
Total net assets (liabilities): 1,107,176 1,762,869
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: (192,825) 462,868
Shareholders funds: 1,107,176 1,762,869

The notes form part of these financial statements

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Balance sheet statements

For the year ending 31 December 2022 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 28 March 2023
and signed on behalf of the board by:

Name: Mark Shaw
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 2022

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 recognized by the company inrespect of goods and services 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 towrite off each asset over its estimated useful life. Leasehold improvements - the shorter of 5 years straight lineor term of lease, Fixtures and fittings - 20% of cost

Intangible fixed assets and amortisation policy

Computer software - straight line over 2 years

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 tothe 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 2022

2. Employees

2022 2021
Average number of employees during the period 10 11

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible Assets

Total
Cost £
At 01 January 2022 656,254
Additions 3,507
Disposals (194,265)
Revaluations 0
Transfers 0
At 31 December 2022 465,496
Depreciation
At 01 January 2022 522,777
Charge for year 84,072
On disposals (191,915)
Other adjustments 0
At 31 December 2022 414,934
Net book value
At 31 December 2022 50,562
At 31 December 2021 133,477

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Fixed investments

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