Registered number
08237141
My Invoice Factoring Limited
Filleted Accounts
31 December 2024
My Invoice Factoring Limited
Registered number: 08237141
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2 2
Current assets
Debtors 4 134,676 120,780
Cash at bank and in hand 3,453,396 3,096,190
3,588,072 3,216,970
Creditors: amounts falling due within one year 5 (644,001) (635,622)
Net current assets 2,944,071 2,581,348
Net assets 2,944,073 2,581,350
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,943,973 2,581,250
Shareholder's funds 2,944,073 2,581,350
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Campbell
Director
Approved by the board on 19 September 2025
My Invoice Factoring Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Summary of significant accounting policies
Basis of preparation
The accounts have been prepared in accordance with Financial Reporting Standard 102 (FRS 102) and the Companies Act 2006 (as applicable to companies subject to the small companies regime).

The significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and from introductory commissions. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover from introductory commissions is recognised when company's right to receive payment for successful introductions can be reliably established or otherwise on the receipt of the commission.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25 % straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans from the director who is a shareholder are measured at the transaction price and the exemption from measuring the loans using the amortised cost and effective interest rate method has been applied to the loans.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Employee benefits
When employees have rendered service to the company, short term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 January 2024 833
At 31 December 2024 833
Depreciation
At 1 January 2024 831
At 31 December 2024 831
Net book value
At 31 December 2024 2
At 31 December 2023 2
4 Debtors 2024 2023
£ £
Trade debtors 5,465 5,489
Other debtors 129,211 115,291
134,676 120,780
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,828 2,281
Taxation and social security costs 158,454 144,738
Other creditors 483,719 488,603
644,001 635,622
6 Share Capital Nominal 2023 2024 2023
value Number £ £
Ordinary shares £1 each 100 100 100
7 Related party transactions
During the year various amounts were lent to the company by the director interest free. The amount due to the director at the year end was £117,236 (2023 - £168,290). The amount due is included in other creditors. The amounts are repayable on demand.
8 Other information
My Invoice Factoring Limited is a private company limited by shares and incorporated in England. Its registered office is:
The History Room at Farnham Pottery
Pottery Lane
Wrecclesham, Farnham
Surrey
GU10 4QJ
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