FCI Exito Advisors Ltd 08130234 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is the provision of financial analysis and management services. Digita Accounts Production Advanced 6.30.9574.0 true true 08130234 2023-08-01 2024-07-31 08130234 2024-07-31 08130234 bus:OrdinaryShareClass1 2024-07-31 08130234 core:CurrentFinancialInstruments 2024-07-31 08130234 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 08130234 core:Non-currentFinancialInstruments 2024-07-31 08130234 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 08130234 core:FurnitureFittingsToolsEquipment 2024-07-31 08130234 bus:SmallEntities 2023-08-01 2024-07-31 08130234 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 08130234 bus:FilletedAccounts 2023-08-01 2024-07-31 08130234 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 08130234 bus:RegisteredOffice 2023-08-01 2024-07-31 08130234 bus:Director1 2023-08-01 2024-07-31 08130234 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 08130234 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08130234 core:ComputerEquipment 2023-08-01 2024-07-31 08130234 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 08130234 countries:AllCountries 2023-08-01 2024-07-31 08130234 2022-08-01 2023-07-31 08130234 2023-07-31 08130234 bus:OrdinaryShareClass1 2023-07-31 08130234 core:CurrentFinancialInstruments 2023-07-31 08130234 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 08130234 core:Non-currentFinancialInstruments 2023-07-31 08130234 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08130234

FCI Exito Advisors Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

FCI Exito Advisors Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

FCI Exito Advisors Ltd

Company Information

Director

Mr N J Peebles

Registered office

84 Brook Street
London
W1K 5EH

 

FCI Exito Advisors Ltd

(Registration number: 08130234)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,981

-

Current assets

 

Debtors

5

6,674

-

Investments

6

4,150

-

Cash at bank and in hand

 

469

21,381

 

11,293

21,381

Creditors: Amounts falling due within one year

7

(804)

(5,468)

Net current assets

 

10,489

15,913

Total assets less current liabilities

 

12,470

15,913

Creditors: Amounts falling due after more than one year

7

(12,350)

-

Net assets

 

120

15,913

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

20

15,813

Shareholders' funds

 

120

15,913

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 December 2024
 

 

FCI Exito Advisors Ltd

(Registration number: 08130234)
Balance Sheet as at 31 July 2024

.........................................
Mr N J Peebles
Director

 

FCI Exito Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
84 Brook Street
London
W1K 5EH

The principal place of business is:
84 Brook Street
London
W1K 5EH

These financial statements were authorised for issue by the director on 18 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern with the Director having given due consideration to the potential impact of both Brexit and Covid-19. He is of the opinion that neither the Company's ability to trade nor the value of its assets will be significantly impaired.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

FCI Exito Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

20% reducing balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

FCI Exito Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

2,476

2,476

At 31 July 2024

2,476

2,476

Depreciation

Charge for the year

495

495

At 31 July 2024

495

495

Carrying amount

At 31 July 2024

1,981

1,981

 

FCI Exito Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Debtors

Current

2024
£

2023
£

Prepayments

6,674

-

 

6,674

-

6

Current asset investments

2024
£

2023
£

Other investments

4,150

-

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

-

1,189

Accruals and deferred income

534

936

Other creditors

270

3,343

804

5,468

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

12,350

-

 

FCI Exito Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

12,350

-

Other borrowings

Other Loans is denominated in sterling and the final instalment is due on 31 July 2028. The carrying amount at year end is £12,350 (2023 - £Nil).

There is no repayment due within the first year although if the loan is settled within that time, no interest will be payable, After that date, nominal interest will be applied at 2.5% above the Bank of England Base rate until repayment in full.