TFT Holdings Limited
Unaudited Financial Statements
For the year ended 30 April 2024
Pages for Filing with Registrar
Company Registration No. 13353822 (England and Wales)
TFT Holdings Limited
Balance Sheet
As at 30 April 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
200
200
Current assets
Debtors
4
100
Cash at bank and in hand
419
420
419
520
Creditors: amounts falling due within one year
5
(100)
(200)
Net current assets
319
320
Net assets
519
520
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
419
420
Total equity
519
520
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 21 January 2025 and are signed on its behalf by:
S Morgan
Director
Company Registration No. 13353822
TFT Holdings Limited
Notes to the Financial Statements
For the year ended 30 April 2024
Page 2
1
Accounting policies
Company information
TFT Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company only has basic financial instruments measured at amortised cost. The company has no financial instruments that are classified as ‘other’ or basic instruments measured at fair value.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2023: 0).
TFT Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
Page 3
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings
200
200
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
-
100
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
100
200
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
-
100
-
100
Ordinary shares of 10p each
1,000
-
100
-
1,000
100
100
100
A sub-division of the company's share capital from 100 ordinary shares of £1 each to 1,000 ordinary shares of 10p each was carried out during the year.
TFT Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
Page 4
7
Related party transactions
During the year, the company received dividends of £958,000 (2023: £800,000) from MJD Fintech Limited, a subsidiary company.
At the year end, there was a balance due to MJD Fintech Limited, a subsidiary of the company, of £nil (2023: £100).
At the year end, there was a balance due to MJD Research Limited, a subsidiary of the company, of £100 (2023: £100).
During the year, the company paid dividends totalling £958,000 (2023: £800,000) to the company's shareholders in accordance with their shareholdings.