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COMPANY REGISTRATION NUMBER: 11015899
CASHFLOW EXPERTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2023
CASHFLOW EXPERTS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
1,237
1,647
CURRENT ASSETS
Debtors
6
11,500
16,075
Cash at bank and in hand
4,144
17,788
--------
--------
15,644
33,863
CREDITORS: amounts falling due within one year
7
16,604
20,235
--------
--------
NET CURRENT (LIABILITIES)/ASSETS
( 960)
13,628
-------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
277
15,275
CREDITORS: amounts falling due after more than one year
8
11,373
13,387
--------
--------
NET (LIABILITIES)/ASSETS
( 11,096)
1,888
--------
--------
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
( 11,097)
1,887
--------
-------
SHAREHOLDERS (DEFICIT)/FUNDS
( 11,096)
1,888
--------
-------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CASHFLOW EXPERTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 20 December 2023 , and are signed on behalf of the board by:
Mrs D W P Cox
Director
Company registration number: 11015899
CASHFLOW EXPERTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 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 Headlands House, 1 Kings Court, Kettering Parkway, Kettering, NN15 6WJ.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Equipment
-
33% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2022 and 31 March 2023
1,047
1,189
2,236
-------
-------
-------
Depreciation
At 1 April 2022
291
298
589
Charge for the year
113
297
410
-------
-------
-------
At 31 March 2023
404
595
999
-------
-------
-------
Carrying amount
At 31 March 2023
643
594
1,237
-------
-------
-------
At 31 March 2022
756
891
1,647
-------
-------
-------
6. DEBTORS
2023
2022
£
£
Trade debtors
1,075
Other debtors
11,500
15,000
--------
--------
11,500
16,075
--------
--------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,800
1,800
Trade creditors
1,762
1,944
Corporation tax
554
15,136
Social security and other taxes
20
39
Other creditors
12,468
1,316
--------
--------
16,604
20,235
--------
--------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
11,373
13,387
--------
--------
9. RELATED PARTY TRANSACTIONS
During the year the company undertook the following transactions with related parties: The director has advanced monies to the company. At 31 March 2023 the amount due from the company was £ 11,328 (2022 - £ 899 owing to the company).