Caseware UK (AP4) 2023.0.135 2023.0.135 12023-01-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06513645 2023-01-01 2023-12-31 06513645 2022-01-01 2022-12-31 06513645 2023-12-31 06513645 2022-12-31 06513645 2022-01-01 06513645 c:Director2 2023-01-01 2023-12-31 06513645 d:FurnitureFittings 2023-01-01 2023-12-31 06513645 d:FurnitureFittings 2023-12-31 06513645 d:FurnitureFittings 2022-12-31 06513645 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06513645 d:OfficeEquipment 2023-01-01 2023-12-31 06513645 d:OfficeEquipment 2023-12-31 06513645 d:OfficeEquipment 2022-12-31 06513645 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06513645 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06513645 d:CurrentFinancialInstruments 2023-12-31 06513645 d:CurrentFinancialInstruments 2022-12-31 06513645 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06513645 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06513645 d:ShareCapital 2023-12-31 06513645 d:ShareCapital 2022-12-31 06513645 d:ShareCapital 2022-01-01 06513645 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 06513645 d:RetainedEarningsAccumulatedLosses 2023-12-31 06513645 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 06513645 d:RetainedEarningsAccumulatedLosses 2022-12-31 06513645 d:RetainedEarningsAccumulatedLosses 2022-01-01 06513645 c:FRS102 2023-01-01 2023-12-31 06513645 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06513645 c:FullAccounts 2023-01-01 2023-12-31 06513645 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06513645 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 06513645










First Forex Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
First Forex Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of First Forex Limited for the year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of First Forex Limited for the year ended 31 December 2023 which comprise  the Balance sheet, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of First Forex Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of First Forex Limited and state those matters that we have agreed to state to the Board of directors of First Forex Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First Forex Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that First Forex Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit or loss of First Forex Limited. You consider that First Forex Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of First Forex Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Second Floor
168 Shoreditch High Street
London
E1 6RA
24 September 2024
Page 1

 
First Forex Limited
Registered number: 06513645

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
295
390

  
295
390

Current assets
  

Debtors: amounts falling due within one year
 5 
40,593
39,443

Cash at bank and in hand
 6 
43,763
50,037

  
84,356
89,480

Creditors: amounts falling due within one year
 7 
(3,886)
(3,361)

Net current assets
  
 
 
80,470
 
 
86,119

Total assets less current liabilities
  
80,765
86,509

  

Net assets
  
80,765
86,509


Capital and reserves
  

Called up share capital 
  
50,100
50,100

Profit and loss account
  
30,665
36,409

  
80,765
86,509


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Hayward
Director
Date: 24 September 2024

The notes on pages 4 to 6 form part of these financial statements.

Page 2

 
First Forex Limited
 

Statement of changes in equity
For the year ended 31 December 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
50,100
36,409
86,509


Comprehensive income for the year

Loss for the year
-
(3,744)
(3,744)


Contributions by and distributions to owners

Dividends: Equity capital
-
(2,000)
(2,000)


At 31 December 2023
50,100
30,665
80,765


The notes on pages 4 to 6 form part of these financial statements.


Statement of changes in equity
For the year ended 31 December 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2022
50,100
43,186
93,286


Comprehensive income for the year

Loss for the year
-
(4,777)
(4,777)


Contributions by and distributions to owners

Dividends: Equity capital
-
(2,000)
(2,000)


At 31 December 2022
50,100
36,409
86,509


The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
First Forex Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

First Forex Limited is a private company, limited by shares, registered in England and Wales. The company registered number and registered office address can be found on the Company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
First Forex Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.6

Creditors

Short term creditors are measured at the transaction price. 

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
2,340
16,249
18,589



At 31 December 2023

2,340
16,249
18,589



Depreciation


At 1 January 2023
2,344
15,855
18,199


Charge for the year
(4)
99
95



At 31 December 2023

2,340
15,954
18,294



Net book value



At 31 December 2023
-
295
295



At 31 December 2022
(4)
394
390

Page 5

 
First Forex Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

5.


Debtors

2023
2022
£
£


Trade debtors
4,200
2,058

Other debtors
36,393
37,385

40,593
39,443



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
43,763
50,037

43,763
50,037



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
2,048
1,611

Accruals and deferred income
1,838
1,750

3,886
3,361



8.


Directors' Advances, Credits and Guarantees

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

2023
2022
£
£
P Hayward
Balance outstanding at start of year

29,947

30,663
 
Amounts advanced

5,388

4,618
 
Amounts repaid

(6,380)

(5,334)
 
Balance outstanding at end of year
28,955

29,947
 


Page 6