IRIS Accounts Production v24.2.0.383 10315840 Board of Directors 1.2.23 31.1.24 31.1.24 0 0 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh103158402023-01-31103158402024-01-31103158402023-02-012024-01-31103158402022-01-31103158402022-02-012023-01-31103158402023-01-3110315840ns15:EnglandWales2023-02-012024-01-3110315840ns14:PoundSterling2023-02-012024-01-3110315840ns10:Director12023-02-012024-01-3110315840ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3110315840ns10:SmallEntities2023-02-012024-01-3110315840ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3110315840ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3110315840ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3110315840ns10:FullAccounts2023-02-012024-01-3110315840ns10:OrdinaryShareClass12023-02-012024-01-3110315840ns10:Director22023-02-012024-01-3110315840ns10:RegisteredOffice2023-02-012024-01-3110315840ns5:CurrentFinancialInstruments2024-01-3110315840ns5:CurrentFinancialInstruments2023-01-3110315840ns5:Non-currentFinancialInstruments2024-01-3110315840ns5:Non-currentFinancialInstruments2023-01-3110315840ns5:ShareCapital2024-01-3110315840ns5:ShareCapital2023-01-3110315840ns5:RetainedEarningsAccumulatedLosses2024-01-3110315840ns5:RetainedEarningsAccumulatedLosses2023-01-3110315840ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3110315840ns5:ComputerSoftware2023-02-012024-01-3110315840ns5:PlantMachinery2023-02-012024-01-3110315840ns5:PlantMachinery2023-01-3110315840ns5:PlantMachinery2024-01-3110315840ns5:PlantMachinery2023-01-3110315840ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-3110315840ns5:WithinOneYearns5:CurrentFinancialInstruments2023-01-3110315840ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-01-3110315840ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-01-3110315840ns5:WithinOneYear2024-01-3110315840ns5:WithinOneYear2023-01-3110315840ns5:BetweenOneFiveYears2024-01-3110315840ns5:BetweenOneFiveYears2023-01-3110315840ns5:AllPeriods2024-01-3110315840ns5:AllPeriods2023-01-3110315840ns10:OrdinaryShareClass12024-01-31
REGISTERED NUMBER: 10315840 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

COMMERCIAL FINANCE NETWORK LIMITED

COMMERCIAL FINANCE NETWORK LIMITED (REGISTERED NUMBER: 10315840)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COMMERCIAL FINANCE NETWORK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr R L Yorke
Mr D R Yorke





REGISTERED OFFICE: New Media House
Davidson Road
Lichfield
Staffordshire
WS14 9DZ





REGISTERED NUMBER: 10315840 (England and Wales)





ACCOUNTANTS: Brookes Stephens
New Media House
Davidson Road
Lichfield
Staffordshire
WS14 9DZ

COMMERCIAL FINANCE NETWORK LIMITED (REGISTERED NUMBER: 10315840)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 4,699 6,266

Current assets
Debtors 5 236,293 222,603
Cash at bank and in hand 11,500 2,075
247,793 224,678
Creditors
Amounts falling due within one year 6 62,109 49,639
Net current assets 185,684 175,039
Total assets less current liabilities 190,383 181,305

Creditors
Amounts falling due after more than one
year

7

(22,176

)

(17,032

)

Provisions for liabilities (893 ) (1,191 )
Net assets 167,314 163,082

Capital and reserves
Called up share capital 9 100 100
Retained earnings 167,214 162,982
Shareholders' funds 167,314 163,082

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

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

COMMERCIAL FINANCE NETWORK LIMITED (REGISTERED NUMBER: 10315840)

BALANCE SHEET - continued
31 JANUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2025 and were signed on its behalf by:





Mr D R Yorke - Director


COMMERCIAL FINANCE NETWORK LIMITED (REGISTERED NUMBER: 10315840)

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


1. STATUTORY INFORMATION

Commercial Finance Network Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents net invoiced goods and services, excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software has been fully amortised in the current year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

COMMERCIAL FINANCE NETWORK LIMITED (REGISTERED NUMBER: 10315840)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 14,454
DEPRECIATION
At 1 February 2023 8,188
Charge for year 1,567
At 31 January 2024 9,755
NET BOOK VALUE
At 31 January 2024 4,699
At 31 January 2023 6,266

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 25,494 54,437
Other debtors 15,987 70,166
41,481 124,603

Amounts falling due after more than one year:
Other debtors 194,812 98,000

Aggregate amounts 236,293 222,603

COMMERCIAL FINANCE NETWORK LIMITED (REGISTERED NUMBER: 10315840)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,499 7,090
Trade creditors 18,795 789
Taxation and social security 20,128 27,540
Other creditors 21,687 14,220
62,109 49,639

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 22,176 17,032

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 6,238 21,500
Between one and five years - 16,125
6,238 37,625

9. CALLED UP SHARE CAPITAL

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

10. RELATED PARTY DISCLOSURES

At the year end, the company owed the directors £4,940 (2023: £12,577). These loans are interest free and repayable on demand.