Company Registration No. 10754098 (England and Wales)
MFP Trading Ltd
Unaudited accounts
for the year ended 31 May 2025
MFP Trading Ltd
Company Information
for the year ended 31 May 2025
Directors
Francois Nembrini
Antoine Bienvenu Georges Nembrini
19 CB Trading
Company Number
10754098 (England and Wales)
Registered Office
4th Floor Upper Mezzanine
Becket House
36 Old Jewry
London
England
EC2R 8DD
United Kingdom
Accountants
ABVK Limited
M25 Business Centre, Ability House
121 Brooker Road
Waltham Abbey
Essex
EN9 1JH
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
MFP Trading Ltd
for the year ended 31 May 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
MFP Trading Ltd for the year ended
31 May 2025 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
ABVK Limited
Chartered Certified Accountants
M25 Business Centre, Ability House
121 Brooker Road
Waltham Abbey
Essex
EN9 1JH
11 July 2025
MFP Trading Ltd
Statement of financial position
as at 31 May 2025
Tangible assets
25,082
21,850
Cash at bank and in hand
1,627,582
1,075,120
Creditors: amounts falling due within one year
(226,125)
(215,687)
Net current assets
1,419,891
866,277
Total assets less current liabilities
1,444,973
888,127
Creditors: amounts falling due after more than one year
(601,349)
(721,309)
Provisions for liabilities
Net assets
837,354
166,818
Called up share capital
245
245
Share premium
1,127,222
1,127,222
Profit and loss account
(290,113)
(960,649)
Shareholders' funds
837,354
166,818
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 July 2025 and were signed on its behalf by
Francois Nembrini
Director
Company Registration No. 10754098
MFP Trading Ltd
Notes to the Accounts
for the year ended 31 May 2025
MFP Trading Ltd is a private company, limited by shares, registered in England and Wales, registration number 10754098. The registered office is 4th Floor Upper Mezzanine, Becket House, 36 Old Jewry, London, England, EC2R 8DD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 May 2025 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2023.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
Computer equipment
25% reducing balance
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
MFP Trading Ltd
Notes to the Accounts
for the year ended 31 May 2025
Expenditure on research and development is written off in the year in which it is incurred.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2024
26,151
37,422
63,573
At 31 May 2025
26,151
48,418
74,569
At 1 June 2024
17,218
24,505
41,723
Charge for the year
1,786
5,978
7,764
At 31 May 2025
19,004
30,483
49,487
At 31 May 2025
7,147
17,935
25,082
At 31 May 2024
8,933
12,917
21,850
Amounts falling due within one year
Other debtors
18,434
6,844
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
12,422
12,422
Trade creditors
7,929
2,184
Taxes and social security
34,244
4,340
Other creditors
171,530
191,741
7
Creditors: amounts falling due after more than one year
2025
2024
Other creditors
592,047
698,709
MFP Trading Ltd
Notes to the Accounts
for the year ended 31 May 2025
8
Transactions with related parties
During the year, the company received consultancy and marketing services from 19 CB Trading, a company registered in France. François Nembrini, the director of MFP Trading Limited, is also the director and shareholder of 19 CB Trading. The total value of services provided by 19 CB Trading amounted to £477,315. All transactions were conducted on an arm’s length basis, and there was no outstanding balance at the year-end.
In addition, 19 CB Trading provided a loan of $53,503 to support the company’s USD trading activities. Of this amount, $10,000 is scheduled for repayment within the next 12 months, with the remaining $43,503 due after more than 12 months.
9
Average number of employees
During the year the average number of employees was 2 (2024: 2).