Abbreviated Company Accounts - FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED - Company Information

05647595 FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED 2013-12-31 false 2013-01-01 2013-12-31 true 05647595 2013-01-01 2013-12-31 05647595 2013-12-31 05647595 2012-12-31 05647595 uk-gaap-cd-bus:Director1 2013-01-01 2013-12-31 05647595 uk-gaap-cd-bus:Director2 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-12-31 iso4217:GBP shares

Registered Number 05647595

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED

Abbreviated Accounts

31 December 2013

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED Registered Number 05647595

Abbreviated Balance Sheet as at 31 December 2013

	Notes	2013	2012
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets	2	170	2,359
Tangible assets	3	105,640	131,238
Investments		-	-
		105,810	133,597
Current assets
Stocks		-	-
Debtors		-	-
Investments		-	-
Cash at bank and in hand		389,060	437,000
		389,060	437,000
Prepayments and accrued income		74,242	77,297
Creditors: amounts falling due within one year		(73,626)	(101,324)
Net current assets (liabilities)		389,676	412,973
Total assets less current liabilities		495,486	546,570
Creditors: amounts falling due after more than one year		(932,712)	(679,300)
Provisions for liabilities		0	0
Accruals and deferred income		0	0
Total net assets (liabilities)		(437,226)	(132,730)
Capital and reserves
Called up share capital	4	800,001	800,001
Share premium account		0	0
Revaluation reserve		0	0
Other reserves		0	0
Profit and loss account		(1,237,227)	(932,731)
Shareholders' funds		(437,226)	(132,730)

For the year ending 31 December 2013 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.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 19 September 2014

And signed on their behalf by:
Michael Oshry, Director

FIRMA FOREIGN EXCHANGE CORPORATION (UK) LIMITED Registered Number 05647595

Notes to the Abbreviated Accounts for the period ended 31 December 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sale of goods, excluding value added tax

Tangible assets depreciation policy
Depreciation is provided at the following rates in order to write off each asset over its estimated life.
Leasehold improvements - 60 month straight line
Office equipment and furniture - 20% declining balance
Computer hardware - 30% declining balance

Intangible assets amortisation policy
Amortization is provided at the following rates in order to write off each asset over its estimated life.
Computer software - 24 months straight line basis

Valuation information and policy
Any assets that are deemed to be impaired are written off in the current year at their depreciated value

Other accounting policies
Turnover is recognized when customer funds are received.

2Intangible fixed assets

	£
Cost
At 1 January 2013	7,509
Additions	0
Disposals	0
Revaluations	0
Transfers	0
At 31 December 2013	7,509
Amortisation
At 1 January 2013	5,150
Charge for the year	2,189
On disposals	0
At 31 December 2013	7,339
Net book values
At 31 December 2013	170
At 31 December 2012	2,359

Computer software written off on a straight line method over 24 months

3Tangible fixed assets

	£
Cost
At 1 January 2013	229,590
Additions	12,378
Disposals	(17,485)
Revaluations	0
Transfers	-
At 31 December 2013	224,483
Depreciation
At 1 January 2013	98,352
Charge for the year	35,676
On disposals	(15,185)
At 31 December 2013	118,843
Net book values
At 31 December 2013	105,640
At 31 December 2012	131,238

Leasehold improvements amortized over 60 months on straight line basis
Office equipment and furniture amortized on 20% declining balance
Computer hardware amortized on 30% declining balance

4Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
800,001 Ordinary shares of £1 each	800,001	800,001

All called up shares are held by Firma Foreign Exchange Corporation