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REGISTERED NUMBER: 08169334 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

EFT LTD

EFT LTD (REGISTERED NUMBER: 08169334)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


EFT LTD (REGISTERED NUMBER: 08169334)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 415,000 400,000
415,000 400,000

CURRENT ASSETS
Debtors 6 311 338
Cash at bank 4,832 4,700
5,143 5,038
CREDITORS
Amounts falling due within one year 7 1,283 1,537
NET CURRENT ASSETS 3,860 3,501
TOTAL ASSETS LESS CURRENT
LIABILITIES

418,860

403,501

PROVISIONS FOR LIABILITIES 32,985 22,218
NET ASSETS 385,875 381,283

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 129,414 114,414
Retained earnings 9 256,361 266,769
SHAREHOLDERS' FUNDS 385,875 381,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

EFT LTD (REGISTERED NUMBER: 08169334)

BALANCE SHEET - continued
31 AUGUST 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:





S D Racle - Director


EFT LTD (REGISTERED NUMBER: 08169334)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Eft Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08169334

Registered office: Brow Head
Kentmere
Kendal
Cumbria
LA8 9JL

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amounts of its furniture and equipment to
determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

If the recoverable amount of an asset is estimated to be less than it's carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. The effect of this departure from the Companies Act 2006 has not been quantified because it is impracticable and, in the opinion of the directors, would be misleading.

EFT LTD (REGISTERED NUMBER: 08169334)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

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.

Financial instruments are recognised when the company becomes party to the contractual provisions of the
instrument.

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

Basic financial liabilities, including trade creditors, other creditors, accruals and deferred income that are classified as debt, 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 are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

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.

Going concern
Based on current trading and future expectations, the directors are confident the company will continue to trade profitably and generate sufficient cash flows to meet its obligations as they fall due for payment.

3. EMPLOYEES

The average number of employees during the year was NIL (2023 - NIL).

EFT LTD (REGISTERED NUMBER: 08169334)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 September 2023
and 31 August 2024 2,264
DEPRECIATION
At 1 September 2023
and 31 August 2024 2,264
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 400,000
Revaluations 15,000
At 31 August 2024 415,000
NET BOOK VALUE
At 31 August 2024 415,000
At 31 August 2023 400,000

The investment property has been valued on the tenanted open market value basis by the director of the company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 311 338

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 84 -
Directors' current accounts - 384
Accrued expenses 1,199 1,153
1,283 1,537

EFT LTD (REGISTERED NUMBER: 08169334)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary 0.1 100 100

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 September 2023 266,769 114,414 381,183
Profit for the year 4,592 4,592
Transfer on asset revaluation (15,000 ) 15,000 -
At 31 August 2024 256,361 129,414 385,775

10. RELATED PARTY DISCLOSURES

At the year end there is an amount of £Nil (2023: £384) due to the director, S D Racle. The loan was provided interest free and had no fixed repayment date.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S D Racle, company director.