Interfin Limited
Interfin Limited
Registered number: 03644121
Unaudited Financial Statements
For The Year Ended
31 December 2022
Adbell International Limited
Interfin Limited
Unaudited Financial Statements
For The Year Ended
31 December 2022
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1 |
Notes to the Financial Statements | 2—3 |
Page 1
Interfin Limited
Balance Sheet
As At
31 December 2022
Balance Sheet
Registered number:
03644121
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
2022 | 2021 | ||||
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Notes | € | € | € | € | |
FIXED ASSETS | |||||
Investments | 4 |
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Creditors: Amounts Falling Due Within One Year | 5 |
( |
( |
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NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
( |
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NET LIABILITIES |
( |
( |
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CAPITAL AND RESERVES | |||||
Called up share capital | 6 |
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Profit and Loss Account |
( |
( |
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SHAREHOLDERS' FUNDS | (1,294,340) | (315,745) | |||
On behalf of the board
Director
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The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Interfin Limited
Notes to the Financial Statements
For The Year Ended
31 December 2022
Notes to the Financial Statements
1.
General Information
Interfin Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
03644121
. The registered office is Birchin Court, 20 Birchin Lane, London, EC3V 9DJ.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Going Concern Disclosure
The financial statements are prepared on the basis of going concern, which assumes that the company will be inoperational existence for a foreseeable future. This depends upon the continued support of the shareholders. Thefinancial statements do not include any adjustments that would result if such support is withdrawn
2.3.
Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'OtherFinancial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomesparty to the contractual provisions of the instrument.
Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when thereis alegally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or torealise the asset and settle the liability simultaneously.
2.4.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into euros at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into euros at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to theextent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred 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 orsubstantively enacted by the balance sheet date.
2.6.
Investments in associates
Investments in associate undertakings are recognised at cost.
2.7.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangementsentered into. An equity instrument is any contract that evidences a residual interest in the assets of the company afterdeducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies andpreference shares that are classified as debt, are initially recognised at transaction price unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present value of the future receiptsdiscounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course ofbusiness from suppliers. Accounts payable are classified as current liabilities if payment is due within one year orless. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction priceand subsequently measured at amortised cost using the effective interest method.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2021: 1)
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Page 3
Interfin Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
4.
Investments
Associates | |
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€ | |
Cost | |
As at
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Disposals |
( |
As at
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Provision | |
As at
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As at
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Net Book Value | |
As at
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As at
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5.
Creditors: Amounts Falling Due Within One Year
2022 | 2021 | ||
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€ | € | ||
Trade creditors |
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Other creditors |
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Shareholder |
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6.
Share Capital
2022 | 2021 | ||
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€ | € | ||
Allotted, Called up and fully paid |
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7.
Ultimate Controlling Party
The company's ultimate controlling party is Mr Rrahim Pacolli
Page 3