REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MAY 2023 |
FOR |
EXPEDEZ FINANCIAL SERVICES LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MAY 2023 |
FOR |
EXPEDEZ FINANCIAL SERVICES LTD |
EXPEDEZ FINANCIAL SERVICES LTD (REGISTERED NUMBER: 11350027) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MAY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
EXPEDEZ FINANCIAL SERVICES LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 MAY 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Bridge Lane |
London |
NW11 0EA |
EXPEDEZ FINANCIAL SERVICES LTD (REGISTERED NUMBER: 11350027) |
BALANCE SHEET |
30 MAY 2023 |
30.5.23 | 30.5.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
EXPEDEZ FINANCIAL SERVICES LTD (REGISTERED NUMBER: 11350027) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MAY 2023 |
1. | STATUTORY INFORMATION |
Expedez Financial Services Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS102") and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Financial instruments |
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangements constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent 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 or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.5.23 | 30.5.22 |
£ | £ |
Other debtors |
EXPEDEZ FINANCIAL SERVICES LTD (REGISTERED NUMBER: 11350027) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 MAY 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.5.23 | 30.5.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
6. | ULTIMATE HOLDING PARTY |
The ultimate holding company is IFC Holding Ltd for which the registered office is Arch, Makariou III, 242, P, Lordos Centre, Block A, Floor 2, Flat 2023, Limassol, 3105, Cyprus. The ultimate controlling party is Svetlana Apukhtina. |
7. | CLIENT FUNDS |
Cash at bank excludes £14,528 (2022: £865,685) which is held in segregated accounts that are subject to safeguarding restrictions. These are client funds which do not belong to the company. |
8. | OPERATING LEASE COMMITMENT |
At the balance sheet date the company was committed to rental payments of £7,286 (2022: £nil) for office premises under lease expiring on 30 November 2023, all of which was due within one year. |