Firstxtra Financial Services Limited 08678559 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of mortgage advisors. Digita Accounts Production Advanced 6.30.9574.0 true true 08678559 2023-01-01 2023-12-31 08678559 2023-12-31 08678559 bus:Director1 1 2023-12-31 08678559 core:CurrentFinancialInstruments 2023-12-31 08678559 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08678559 core:FurnitureFittings 2023-12-31 08678559 core:MotorVehicles 2023-12-31 08678559 core:OfficeEquipment 2023-12-31 08678559 bus:SmallEntities 2023-01-01 2023-12-31 08678559 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08678559 bus:FilletedAccounts 2023-01-01 2023-12-31 08678559 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08678559 bus:RegisteredOffice 2023-01-01 2023-12-31 08678559 bus:Director1 2023-01-01 2023-12-31 08678559 bus:Director1 1 2023-01-01 2023-12-31 08678559 bus:Director2 2023-01-01 2023-12-31 08678559 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08678559 core:ComputerEquipment 2023-01-01 2023-12-31 08678559 core:FurnitureFittings 2023-01-01 2023-12-31 08678559 core:MotorVehicles 2023-01-01 2023-12-31 08678559 core:OfficeEquipment 2023-01-01 2023-12-31 08678559 countries:EnglandWales 2023-01-01 2023-12-31 08678559 2022-12-31 08678559 bus:Director1 1 2022-12-31 08678559 core:FurnitureFittings 2022-12-31 08678559 core:MotorVehicles 2022-12-31 08678559 core:OfficeEquipment 2022-12-31 08678559 2022-01-01 2022-12-31 08678559 2022-12-31 08678559 bus:Director1 1 2022-12-31 08678559 core:CurrentFinancialInstruments 2022-12-31 08678559 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08678559 core:FurnitureFittings 2022-12-31 08678559 core:MotorVehicles 2022-12-31 08678559 core:OfficeEquipment 2022-12-31 08678559 bus:Director1 1 2022-01-01 2022-12-31 08678559 bus:Director1 1 2021-12-31 iso4217:GBP xbrli:pure

Registration number: 08678559

Firstxtra Financial Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Firstxtra Financial Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Firstxtra Financial Services Limited

(Registration number: 08678559)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

87,300

23,508

Current assets

 

Debtors

5

191,379

237,879

Cash at bank and in hand

 

451,475

544,203

 

642,854

782,082

Creditors: Amounts falling due within one year

6

(18,965)

(72,463)

Net current assets

 

623,889

709,619

Total assets less current liabilities

 

711,189

733,127

Provisions for liabilities

(21,825)

(5,789)

Net assets

 

689,364

727,338

Capital and reserves

 

Called up share capital

100

100

Retained earnings

689,264

727,238

Shareholders' funds

 

689,364

727,338

 

Firstxtra Financial Services Limited

(Registration number: 08678559)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 September 2024 and signed on its behalf by:
 

.........................................
Mr A J S Hall
Director

.........................................
Mr C J Hall
Director

 

Firstxtra Financial Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Firstxtra Financial Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

25% on reducing balance

Office Equipment

25% on reducing balance

Motor Vehicles

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2022 - 19).

 

Firstxtra Financial Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

11,286

90,379

-

101,665

Additions

-

2,957

75,072

78,029

At 31 December 2023

11,286

93,336

75,072

179,694

Depreciation

At 1 January 2023

9,066

69,091

-

78,157

Charge for the year

555

5,862

7,820

14,237

At 31 December 2023

9,621

74,953

7,820

92,394

Carrying amount

At 31 December 2023

1,665

18,383

67,252

87,300

At 31 December 2022

2,220

21,288

-

23,508

5

Debtors

Current

2023
£

2022
£

Other debtors

191,379

237,879

 

191,379

237,879

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

5,622

Taxation and social security

14,225

54,600

Other creditors

4,740

12,241

18,965

72,463

 

Firstxtra Financial Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

Mr A J S Hall

Interest free loan to company

7,501

(7,501)

-

2022

At 1 January 2022
£

At 31 December 2022
£

Mr A J S Hall

Interest free loan to company

7,501

7,501