Registration number: 10706968

FTTX Resources Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

FTTX Resources Limited

Company Information

Directors

Mr Joao Paulo Baptista Clerigo Ms Claudia Sofia Cruz De Barros

Registered office

3rd Floor 207 Regent Street, London England W1B 3HH

Accountants

M Ball & Co Limited The Hemington Millhouse Business Centre Station Road Castle Donington Derby DE74 2NJ

FTTX Resources Limited

(Registration number: 10706968)
Balance Sheet as at 31 October 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	42,292	16,292
Current assets
Debtors	5	44,873	62,349
Cash at bank and in hand		22	351,762
		44,895	414,111
Creditors: Amounts falling due within one year	6	(46,767)	(168,535)
Net current (liabilities)/assets		(1,872)	245,576
Total assets less current liabilities		40,420	261,868
Creditors: Amounts falling due after more than one year	6	(12,989)	-
Net assets		27,431	261,868
Capital and reserves
Called up share capital		200	100
Retained earnings		27,231	261,768
Shareholders' funds		27,431	261,868

For the financial period ending 31 October 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 accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

FTTX Resources Limited

(Registration number: 10706968)
Balance Sheet as at 31 October 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2025 and signed on its behalf by:
 

......................................... Mr Joao Paulo Baptista Clerigo Director

......................................... Ms Claudia Sofia Cruz De Barros Director

FTTX Resources Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3rd Floor 207 Regent Street,
London
England
W1B 3HH
England and Wales

These financial statements were authorised for issue by the Board on 31 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

FTTX Resources Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor Vehicles	25% Reducing Balance
Furniture & Fittings	25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

FTTX Resources Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 8 (2023 - 3).

FTTX Resources Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

4	Tangible assets

	Fixtures and fittings £	Motor vehicles  £	Total £
Cost or valuation
At 1 May 2023	12,424	20,342	32,766
Additions	10,954	30,895	41,849
At 31 October 2024	23,378	51,237	74,615
Depreciation
At 1 May 2023	5,651	10,823	16,474
Charge for the period	5,099	10,750	15,849
At 31 October 2024	10,750	21,573	32,323
Carrying amount
At 31 October 2024	12,628	29,664	42,292
At 30 April 2023	6,773	9,519	16,292

5

Debtors

Current	Note	2024 £	2023 £
Trade debtors		1,643	29,369
Amounts owed by related parties		9,000	-
Prepayments		-	6,500
Other debtors		34,230	26,480
		44,873	62,349

FTTX Resources Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	7	17,213	-
Trade creditors		7,006	4,639
Taxation and social security		19,348	159,857
Accruals and deferred income		1,685	4,039
Other creditors		1,515	-
		46,767	168,535

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	7	12,989	-

7	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	12,989	-

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	12,184	-
Bank overdrafts	565	-
Hire purchase contracts	4,464	-
	17,213	-