Company No: 06513645 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	P Hayward
	D Satchell

Secretary

D Satchell

Registered office	168 Shoreditch High Street
	London
	United Kingdom

Company number

06513645 (England and Wales)

Chartered accountants	Kreston Reeves LLP
	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA
	United Kingdom

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	221		295
		221		295
Current assets
Debtors	4	40,062		40,593
Cash at bank and in hand	5	43,255		43,763
		83,317		84,356
Creditors: amounts falling due within one year	6, 7	( 2,738)		( 3,886)
Net current assets		80,579		80,470
Total assets less current liabilities		80,800		80,765
Net assets		80,800		80,765
Capital and reserves
Called-up share capital		50,100		50,100
Profit and loss account		30,700		30,665
Total shareholders' funds		80,800		80,765

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of First Forex Limited (registered number: 06513645) were approved and authorised for issue by the Board of Directors on 15 September 2025. They were signed on its behalf by:

P Hayward Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

First Forex Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 168 Shoreditch High Street, London, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The Company has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	18,589		18,589
At 31 December 2024	18,589		18,589
Accumulated depreciation
At 01 January 2024	18,294		18,294
Charge for the financial year	74		74
At 31 December 2024	18,368		18,368
Net book value
At 31 December 2024	221		221
At 31 December 2023	295		295

4. Debtors

	2024		2023
	£		£
Trade debtors	1,121		4,200
Other debtors	38,941		36,393
	40,062		40,593

5. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	43,255		43,763

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Other taxation and social security	738		2,048
Other creditors	2,000		1,838
	2,738		3,886

7. Directors' Advances, Credits and Guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2024.

	2024		2023
	£		£
Balance outstanding at start of year	28,955		29,947
Amounts advanced	4,048		5,388
Amounts repaid	(1,500)		(6,380)
	31,503		28,955