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REGISTERED NUMBER: 06442198 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

EFD Corporate Limited

EFD Corporate Limited (Registered number: 06442198)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EFD Corporate Limited

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D Hyde
S J Hyde





REGISTERED OFFICE: Unit 8 Centurion Court
Brick Close
Kiln Farm
Milton Keynes
Buckinghamshire
MK11 3JB





REGISTERED NUMBER: 06442198 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

EFD Corporate Limited (Registered number: 06442198)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 460 1,826
460 1,826

CURRENT ASSETS
Stocks 41,898 45,000
Debtors 6 102,002 116,582
Cash at bank 29,278 6,855
173,178 168,437
CREDITORS
Amounts falling due within one year 7 108,544 111,963
NET CURRENT ASSETS 64,634 56,474
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,094

58,300

CREDITORS
Amounts falling due after more than one year 8 (102,813 ) (57,922 )

PROVISIONS FOR LIABILITIES (87 ) (268 )
NET (LIABILITIES)/ASSETS (37,806 ) 110

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings (37,916 ) -
SHAREHOLDERS' FUNDS (37,806 ) 110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

EFD Corporate Limited (Registered number: 06442198)

Balance Sheet - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





D Hyde - Director


EFD Corporate Limited (Registered number: 06442198)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

EFD Corporate Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
These accounts have been prepared on the going concern basis. The company has net liabilities on the balance sheet and is reliant upon the continued support of third party finance.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

EFD Corporate Limited (Registered number: 06442198)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement 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 classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


EFD Corporate Limited (Registered number: 06442198)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 13,780
AMORTISATION
At 1 January 2023
and 31 December 2023 13,780
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

EFD Corporate Limited (Registered number: 06442198)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 14,690
DEPRECIATION
At 1 January 2023 12,864
Charge for year 1,366
At 31 December 2023 14,230
NET BOOK VALUE
At 31 December 2023 460
At 31 December 2022 1,826

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 56,324 81,123
Other debtors 45,678 35,459
102,002 116,582

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 34,655 23,655
Trade creditors 59,793 66,060
Taxation and social security 14,096 22,140
Other creditors - 108
108,544 111,963

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) 102,813 57,922

EFD Corporate Limited (Registered number: 06442198)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 34,655 23,655

Amounts falling due between one and two years:
Bank loans - 1-2 years 38,961 26,345

Amounts falling due between two and five years:
Bank loans - 2-5 years 63,852 31,577

£57,921.81 (2022: £81,577) of loan balances outstanding at balance sheet date relates to a Coronavirus Business Interruption Loan. The loan is unsecured and is guaranteed by the UK government.

£79,546.85 of the loan balances outstanding at the balance sheet date relates to an unsecured bank loan.

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 2,500 18,168
Between one and five years - 1,514
2,500 19,682

11. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. The assets of the scheme are held separately from those of the company in an independently administered fund.
Contributions totalling £233.71 (2022: £233.71 ) were payable to the fund at the balance sheet date and are included in other creditors.

EFD Corporate Limited (Registered number: 06442198)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
**UNKNOWN DIRECTOR 1**
Balance outstanding at start of year - 15,022
Amounts advanced 47,827 -
Amounts repaid (29,682 ) (15,022 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,145 -

All transactions are interest free and all balances are repayable on demand.