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Company registration number: 16134459
Letfast Limited
Unaudited filleted financial statements
31 December 2025
Letfast Limited
Contents
Directors and other information
Statement of financial position and notes to the financial statements
Letfast Limited
Directors and other information
Director Mr Oleg Surgan (Appointed 13 December 2024)
Company number 16134459
Registered office Suite 30 15a Market Street
Telford
Shropshire
United Kingdom
TF2 6EL
Letfast Limited
Statement of financial position
31 December 2025
31/12/25
£ £
Current assets 3,267,053
Prepayments and accrued income 2,246
_______
3,269,299
Creditors: amounts falling due within one year ( 3,256,373)
_______
Net current assets 12,926
_______
Total assets less current liabilities 12,926
Accruals and deferred income ( 3,500)
_______
Net assets 9,426
_______
Capital and reserves 9,426
_______
Notes to the financial statements
Letfast Limited
Period ended 31 December 2025
1. Employee numbers
The average number of persons employed by the company during the period amounted to 1
2. Directors' and Shareholders' Advances and Credits
During the period the director and shareholder entered into the following advances and credits with the company:
Period ended 31/12/25
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Olga Kim - ( 3,228,184) ( 3,228,184)
_______ _______ _______
3 Accounting Policies
1. Basis of preparation
Management accounts are to be prepared on the historical cost basis and using the accruals basis of accounting, applying the recognition and measurement principles of FRS 105 where relevant.
2. Going concern
Management accounts are to be prepared on a going concern basis, supported by an appropriate director assessment for each reporting period.
3. Bridge finance loans receivable
Loans advanced to borrowers are recognised when the company becomes party to the loan contract. They are initially measured at transaction price (normally the amount loaned), with material direct transaction costs added. Subsequently they are measured at cost, adjusted for accrued interest, repayments received, and impairment.
4. Interest income on bridge loans
Interest income is recognised on an accruals basis over the life of each loan. In most cases, interest is accrued using the contractual rate over time; where settlement is deferred, the total interest is allocated over the term of the contract.
5. Director's loan account / other borrowings
Director loans and other borrowings are recognised when funds are advanced to the company. They are initially measured at transaction price (amount borrowed), less any material direct transaction costs, and are subsequently measured at cost plus accrued interest less repayments.
6. Non-market or interest-free director loans
If the director lends at nil interest or below market rate, the liability is recorded at the transaction price / amount advanced. No notional market-rate uplift is to be imputed under FRS 105.
7. Transaction costs and arrangement fees
Material transaction costs on financial instruments are to be spread to profit or loss on a straight- line basis over the term of the contract. Immaterial transaction costs may be expensed immediately.
8. Impairment of loans and accrued interest
At each reporting date, all loans receivable and accrued interest balances must be reviewed for impairment / uncollectability. Indicators include borrower financial difficulty, missed principal or interest, concession granted, likely insolvency, or other evidence that recoverability has deteriorated. Any impairment loss is recognised immediately in profit or loss.
9. Classification of liabilities
Borrowings are classified as due within one year where the company does not have an unconditional right at the reporting date to defer settlement for at least 12 months after the reporting date.
3 Accounting Policies
10. Provisions and contingencies
Provisions are recognised only where there is a present obligation from a past event, settlement is probable, and the amount can be estimated reliably. Provisions are measured at the best estimate of settlement cost. No provision is made for future operating losses.
11. Taxation
Management accounts should recognise current corporation tax based on taxable profits for the period. Deferred tax is not recognised under FRS 105.
12. Dividends and distributions
Dividends / distributions to shareholders are not to be treated as expenses in profit or loss; they are recognised as reductions in equity reserves when they arise.
13. Post-balance-sheet events
Adjusting events after period end are to be reflected in the accounts where they provide evidence of conditions existing at the reporting date, including later evidence that a loan debtor was impaired at the period end.
For the period ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsiblities:
- The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of directors and authorised for issue on 30 July 2026 , and are signed on behalf of the board by:
Mr Oleg Surgan
Director
Company registration number: 16134459
The company is a private company limited by shares, registered in In Uk.