Registered Number: 09466811
England & Wales
CFD DIRECT LIMITED
Filleted Unaudited Financial Statements
For the financial year ended
31 March 2024
CFD DIRECT LIMITED
Balance Sheet
As at 31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 3 4,657 3,613
Current assets
Debtors 4 136,396 123,339
Cash at bank and in hand 510,494 587,924
646,890 711,263
Creditors - amounts falling due within one year 5 (453,156) (434,983)
Net current assets 193,734 276,280
Total assets less current liabilities 198,391 279,893
Provision for liabilities (1,011) (421)
Net assets 197,380 279,472
Capital and reserves
Called up share capital 3 4
Capital redemption reserve 1 -
Profit and loss account 197,376 279,468
Shareholders' funds 197,380 279,472
The directors are satisfied that the company is entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit of its accounts in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Register of Companies.
Approved by the board on 6 September 2024 and signed on its behalf by:
C J Greenshields
Director
The notes on pages 2 to 4 form an integral part of these accounts
Page 1
CFD DIRECT LIMITED
Notes to the Financial Statements
For the financial year ended 31 March 2024
1. Accounting policies
(a) Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
(b) Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
(c) Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery etc 20% to 33.3% straight line
(d) Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised in full in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each accounting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
(e) Pension costs
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
(f) Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account.
Page 2
CFD DIRECT LIMITED
Notes to the Financial Statements
For the financial year ended 31 March 2024
2. Employees 2024 2023
Number Number
Average number of persons employed by the company including directors 4 4
3. Tangible fixed assets
Plant and
Machinery
etc
£
Cost
At 1 April 2023 29,038
Additions 3,042
At 31 March 2024 32,080
Depreciation
At 1 April 2023 25,425
Charge for the year 1,998
At 31 March 2023 27,423
Net book value
At 31 March 2024 4,657
At 31 March 2023 3,613
4. Debtors 2024 2023
£ £
Trade debtors 125,760 117,951
Other debtors 900 107
Prepayments and accrued income 9,736 5,281
136,396 123,339
Page 3
CFD DIRECT LIMITED
Notes to the Financial Statements
For the financial year ended 31 March 2024
5. Creditors - amounts falling due within one year 2024 2023
£ £
Trade creditors 1,988 688
Taxation and social security costs 70,404 52,201
Accruals and deferred income 373,814 382,094
Other creditors 6,950 -
453,156 434,983
6. Pension commitments
The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £89,670 (2023 - £72,615).
7. Statutory information
The company is a private company limited by shares and incorporated in England. Its registered office is:
9 Albert Road
Caversham
Reading
Berkshire
RG4 7AN
Page 4
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