Funding Cash Advance Ltd
Registered number: 13542913
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 1,761,455 1,097,016
1,761,455 1,097,016
Creditors: amounts falling due within one year 4 (1,681,658) (930,268)
Net current assets 79,797 166,748
Total assets less current liabilities 79,797 166,748
Net assets 79,797 166,748
Capital and reserves
Called up share capital 100 100
Profit and loss account 79,697 166,648
Shareholder's funds 79,797 166,748
The directors are 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 directors acknowledge their 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.
S Santos
Director
Approved by the board on 25 September 2025
Funding Cash Advance Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the rendering of services is recognised by reference to the stage of completion of each contract. The company accrues initial contractual fees arising on the funding of a loan and further contractual fees over the term of the contract. There is a credit risk that the advance will not be recovered in full and impairment losses for any bad and doubtful debts are recognised separately.
Debtors
Trade debtors are amounts due form customers for cash advances secured by personal guarantees or charges made in the ordinary course of business. 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 and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company including directors 2 2
3 Debtors 2024 2023
£ £
Trade debtors 443,570 247,299
Amounts owed by group undertakings and undertakings in which the company has a participating interest 777,436 628,863
Other debtors 540,449 220,854
1,761,455 1,097,016
Trade debtors are secured by way of fixed and floating charges.
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 8,616 564
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,663,914 879,014
Taxation and social security costs - 42,676
Other creditors 9,128 8,014
1,681,658 930,268
5 Other information
Funding Cash Advance Ltd is a private company limited by shares and incorporated in England. Its registered office is:
104 Roebuck Road
Chessington
Surrey
KT9 1EU
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