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COMPANY REGISTRATION NUMBER: 07495500
FOREX TRADERS CORPORATION LIMITED
Filleted Unaudited Financial Statements
31 January 2024
FOREX TRADERS CORPORATION LIMITED
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Current assets
Debtors
4
82,745
82,745
Cash at bank and in hand
1,580
1,580
--------
--------
84,325
84,325
Creditors: amounts falling due within one year
5
38,492
38,492
--------
--------
Net current assets
45,833
45,833
--------
--------
Total assets less current liabilities
45,833
45,833
--------
--------
Net assets
45,833
45,833
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
45,733
45,733
--------
--------
Shareholders funds
45,833
45,833
--------
--------
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 January 2024 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
Dr K H AZIZ
Director
Company registration number: 07495500
FOREX TRADERS CORPORATION LIMITED
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 78 Higher Drive, Banstead, Surrey, SM7 1PQ.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Debtors
2024
2023
£
£
Other debtors
82,745
82,745
--------
--------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
5,755
5,755
Other creditors
32,737
32,737
--------
--------
38,492
38,492
--------
--------
6. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward and outstanding
2024
2023
£
£
Dr K H AZIZ
( 28,737)
( 28,737)
--------
--------
7. Related party transactions
The company was under the control of Dr Kashif Hamid Aziz and Mr Hamid Aziz throughout the current and previous year. Dr K H Aziz is the managing director and 100% shareholder. Included in the other debtors is an amount of £82,645.00 (2023: £82,645.00) receivable from Pioneer Medical UK Ltd. Dr Aziz or the family members of Dr Aziz are the directors and shareholders in Pioneer Medical UK Ltd.