Company Registration No. 11431674 (England and Wales)
2020 FINANCIAL SOLUTIONS LIMITED
Unaudited accounts
for the period from 1 July 2019 to 31 December 2020
2020 FINANCIAL SOLUTIONS LIMITED
Unaudited accounts
Contents
2020 FINANCIAL SOLUTIONS LIMITED
Company Information
for the period from 1 July 2019 to 31 December 2020
Directors
Mohammed Arif Mushtaq
Naveed Muzaffar
Company Number
11431674 (England and Wales)
Registered Office
OAKLEIGH TAMWORTH ROAD
KERESLEY END
COVENTRY
CV7 8JJ
UNITED KINGDOM
Accountants
Ratiobox Limited
17-19 Sawmills Road
Diss
IP22 4GG
2020 FINANCIAL SOLUTIONS LIMITED
Statement of financial position
as at 31 December 2020
Cash at bank and in hand
13
117
Creditors: amounts falling due within one year
(11,678)
(24,799)
Net current assets/(liabilities)
23,925
(24,104)
Total assets less current liabilities
23,925
(24,104)
Creditors: amounts falling due after more than one year
(50,000)
-
Net liabilities
(26,075)
(24,104)
Called up share capital
10
10
Profit and loss account
(26,085)
(24,114)
Shareholders' funds
(26,075)
(24,104)
For the period ending 31 December 2020 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 23 September 2021 and were signed on its behalf by
Mohammed Arif Mushtaq
Director
Company Registration No. 11431674
2020 FINANCIAL SOLUTIONS LIMITED
Notes to the Accounts
for the period from 1 July 2019 to 31 December 2020
2020 FINANCIAL SOLUTIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11431674. The registered office is OAKLEIGH TAMWORTH ROAD, KERESLEY END, COVENTRY, CV7 8JJ, 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 period from 1 July 2019 to 31 December 2020 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 25 June 2018.
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 sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Debtors: amounts falling due within one year
2020
2019
2020 FINANCIAL SOLUTIONS LIMITED
Notes to the Accounts
for the period from 1 July 2019 to 31 December 2020
5
Creditors: amounts falling due within one year
2020
2019
Amounts owed to group undertakings and other participating interests
-
13,590
Other creditors
10,717
10,086
6
Creditors: amounts falling due after more than one year
2020
2019
7
Average number of employees
During the period the average number of employees was 0 (2019: 0).
