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REGISTERED NUMBER: 08688456 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

CAPITAL FIRST RESOURCING LIMITED

CAPITAL FIRST RESOURCING LIMITED (REGISTERED NUMBER: 08688456)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CAPITAL FIRST RESOURCING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: O Alli-Balogun





REGISTERED OFFICE: Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR





REGISTERED NUMBER: 08688456 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

CAPITAL FIRST RESOURCING LIMITED (REGISTERED NUMBER: 08688456)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 841 4,215

CURRENT ASSETS
Debtors 5 55,229 48,079
Cash at bank 277 5,157
55,506 53,236
CREDITORS
Amounts falling due within one year 6 112,163 168,520
NET CURRENT LIABILITIES (56,657 ) (115,284 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(55,816

)

(111,069

)

CREDITORS
Amounts falling due after more than one year 7 43,600 44,150
NET LIABILITIES (99,416 ) (155,219 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (99,417 ) (155,220 )
SHAREHOLDERS' FUNDS (99,416 ) (155,219 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 19 June 2025 and were signed by:





O Alli-Balogun - Director


CAPITAL FIRST RESOURCING LIMITED (REGISTERED NUMBER: 08688456)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Capital First Resourcing 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Bounce back loan scheme
The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% of the loan and there are no fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% per annum.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 October 2023
and 30 September 2024 116 5,380 5,496
Depreciation
At 1 October 2023 24 1,257 1,281
Charge for year 29 3,345 3,374
At 30 September 2024 53 4,602 4,655
Net book value
At 30 September 2024 63 778 841
At 30 September 2023 92 4,123 4,215

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 55,229 48,079

CAPITAL FIRST RESOURCING LIMITED (REGISTERED NUMBER: 08688456)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,470 6,470
Other loans 3,624 3,624
VAT 95,314 69,636
Director's loan account 5,505 87,540
Accruals and deferred income 1,250 1,250
112,163 168,520

Other loans relates to funding undertaken by the company at an annual interest rate of 12.5%.

In a prior year, the company undertook a Business Bounce Back Loan, with interest being charged at 2.5% per annum. The loan is guaranteed in full by the government under the terms of the original facility.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 29,112 30,310
Other loans - 1-2 years 14,488 13,840
43,600 44,150

Other loans relates to funding undertaken by the company at an annual interest rate of 12.5%.

In a prior year, the company undertook a Business Bounce Back Loan, with interest being charged at 2.5% per annum. The loan is guaranteed in full by the government under the terms of the original facility.

8. CALLED UP SHARE CAPITAL

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

9. RELATED PARTY DISCLOSURES

Control and ultimate control of the company rests with O Alli-Balogun, director.

At 30th September 2024 an amount of £5,505 (2023: £87,540) was due from the company to O Alli-Balogun, director. No interest has been charged on this loan (2023: £Nil) with no fixed terms of repayment.