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REGISTERED NUMBER: 04498842 (England and Wales)












Financial Statements

for the Year Ended 31 October 2021

for

Allfirst Limited

Allfirst Limited (Registered number: 04498842)






Contents of the Financial Statements
for the Year Ended 31 October 2021




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Allfirst Limited

Company Information
for the Year Ended 31 October 2021







DIRECTORS: Mr J.S. Sandall
Mrs P.A. Sandall
Mr G A Sandall





SECRETARY: Mrs P.A. Sandall





REGISTERED OFFICE: Williamston House
7 Goat Street
Haverfordwest
Pembrokeshire
SA61 1PX





REGISTERED NUMBER: 04498842 (England and Wales)

Allfirst Limited (Registered number: 04498842)

Abridged Balance Sheet
31 October 2021

31.10.21 31.10.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 22,910 28,995
22,910 28,995

CURRENT ASSETS
Stocks 5,970 5,250
Cash at bank and in hand 21,853 800
27,823 6,050
CREDITORS
Amounts falling due within one year 66,960 54,331
NET CURRENT LIABILITIES (39,137 ) (48,281 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(16,227

)

(19,286

)

CREDITORS
Amounts falling due after more than one year 6 (35,833 ) (45,833 )

PROVISIONS FOR LIABILITIES (2,405 ) (2,034 )
NET LIABILITIES (54,465 ) (67,153 )

CAPITAL AND RESERVES
Called up share capital 1,900 1,900
Retained earnings (56,365 ) (69,053 )
SHAREHOLDERS' FUNDS (54,465 ) (67,153 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Allfirst Limited (Registered number: 04498842)

Abridged Balance Sheet - continued
31 October 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 September 2022 and were signed on its behalf by:





Mr G A Sandall - Director


Allfirst Limited (Registered number: 04498842)

Notes to the Financial Statements
for the Year Ended 31 October 2021

1. STATUTORY INFORMATION

Allfirst Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Allfirst Limited (Registered number: 04498842)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2021

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Capital grants received are classified as deferred income and are amortised over a ten year period on a straight line basis.

Revenue based grants are credited to the profit and loss account in the period receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2020 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2020
and 31 October 2021 100,000
AMORTISATION
At 1 November 2020
and 31 October 2021 100,000
NET BOOK VALUE

At 31 October 2021 -
At 31 October 2020 -

Allfirst Limited (Registered number: 04498842)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2021

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2020 384,770
Additions 16,830
At 31 October 2021 401,600
DEPRECIATION
At 1 November 2020 355,775
Charge for year 22,915
At 31 October 2021 378,690
NET BOOK VALUE
At 31 October 2021 22,910
At 31 October 2020 28,995

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.10.21 31.10.20
£    £   
Repayable by instalments
Bank loans more 5 yr by instal - 12,500

7. SECURED DEBTS

The following secured debts are included within creditors:

31.10.21 31.10.20
£    £   
Bank overdraft - 12,361
Bank loans 45,833 50,000
45,833 62,361

Bank borrowings are secured by means of a fixed and floating charge over the company's assets.

Allfirst Limited (Registered number: 04498842)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2021

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2021 and 31 October 2020:

31.10.21 31.10.20
£    £   
Mr J.S. Sandall and Mr G A Sandall
Balance outstanding at start of year (6,044 ) (38,106 )
Amounts advanced 56,200 139,728
Amounts repaid (78,134 ) (107,666 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (27,978 ) (6,044 )

9. RELATED PARTY DISCLOSURES

During the period the company paid rent of £30,000 (2019 £30,000) to Mr J.S and Mrs P.A Sandall for use of its business premises.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J.S & Mrs P.A Sandall.

11. GOING CONCERN

At the balance sheet date the company's liabilities exceeded its assets by £54,465. The accounts have been prepared under the going concern basis which assumes that the company's directors and bankers will continue to provided adequate financial resources over future periods.