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COMPANY REGISTRATION NUMBER: 10816898
ADA FX LTD
Filleted Financial Statements
30 June 2023
ADA FX LTD
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Current assets
Debtors
5
127,197
Cash at bank and in hand
315,531
434,156
---------
---------
442,728
434,156
Creditors: amounts falling due within one year
6
274,642
310,992
---------
---------
Net current assets
168,086
123,164
---------
---------
Total assets less current liabilities
168,086
123,164
---------
---------
Net assets
168,086
123,164
---------
---------
Capital and reserves
Called up share capital
20,100
20,100
Profit and loss account
147,986
103,064
---------
---------
Shareholders funds
168,086
123,164
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 29 September 2023 , and are signed on behalf of the board by:
LA Osborne
AK Hilmi
Director
Director
Company registration number: 10816898
ADA FX LTD
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 57a Broadway, Leigh On Sea, Essex, SS9 1PE, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for commissions receivable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 4 ).
5. Debtors
2023
2022
£
£
Other debtors
127,197
---------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,500
Corporation tax
103,250
51,498
Social security and other taxes
1,470
1,718
Other creditors
167,422
257,776
---------
---------
274,642
310,992
---------
---------
7. Summary audit opinion
The auditor's report for the year dated 29 September 2023 was unqualified.
The senior statutory auditor was Spencer Watson , for and on behalf of Buckley Watson Limited .