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Company Registration No. 12392307 (England and Wales)
FIRST MONEY SERVICES LTD Unaudited accounts for the year ended 31 January 2024
FIRST MONEY SERVICES LTD Unaudited accounts Contents
Page
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FIRST MONEY SERVICES LTD Company Information for the year ended 31 January 2024
Directors
Emad BAHSOON Md Mahabubul Alam KHAN
Company Number
12392307 (England and Wales)
Registered Office
Suite: 3.6, Queens Court 9-17 Eastern Road Romford RM1 3NH England
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FIRST MONEY SERVICES LTD Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,233 
2,791 
Current assets
Cash at bank and in hand
1,627 
834 
Creditors: amounts falling due within one year
(3,976)
(3,976)
Net current liabilities
(2,349)
(3,142)
Net liabilities
(116)
(351)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(118)
(353)
Shareholders' funds
(116)
(351)
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by
Emad BAHSOON Director Company Registration No. 12392307
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FIRST MONEY SERVICES LTD Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
FIRST MONEY SERVICES LTD is a private company, limited by shares, registered in England and Wales, registration number 12392307. The registered office is Suite: 3.6, Queens Court, 9-17 Eastern Road, Romford, RM1 3NH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following percentage in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% - Reducing Balance Method
Turnover
As a Small Payment Institution (SPI) business revenue from commission on transaction is recognized when the service is performed and the entity has fulfilled its performance obligations, meaning that the payment transaction is complete and the business has transferred the funds or executed the payment as per the customer's instructions. The said revenue is recognized at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Going concern
The company has good intention to raise adequate resources to continue its operation for the foreseeable future. As such, the directors intended to adopt the going concern basis in preparing the financial statements.
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FIRST MONEY SERVICES LTD Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 February 2023
3,489 
At 31 January 2024
3,489 
Depreciation
At 1 February 2023
698 
Charge for the year
558 
At 31 January 2024
1,256 
Net book value
At 31 January 2024
2,233 
At 31 January 2023
2,791 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
1,400 
- 
Loans from directors
2,576 
3,976 
3,976 
3,976 
6
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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