Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01No description of principal activity33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10548437 2022-04-01 2023-03-31 10548437 2021-04-01 2022-03-31 10548437 2023-03-31 10548437 2022-03-31 10548437 c:Director1 2022-04-01 2023-03-31 10548437 d:PlantMachinery 2022-04-01 2023-03-31 10548437 d:PlantMachinery 2023-03-31 10548437 d:PlantMachinery 2022-03-31 10548437 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10548437 d:FurnitureFittings 2022-04-01 2023-03-31 10548437 d:FurnitureFittings 2023-03-31 10548437 d:FurnitureFittings 2022-03-31 10548437 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10548437 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10548437 d:CurrentFinancialInstruments 2023-03-31 10548437 d:CurrentFinancialInstruments 2022-03-31 10548437 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10548437 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10548437 d:ShareCapital 2023-03-31 10548437 d:ShareCapital 2022-03-31 10548437 d:RetainedEarningsAccumulatedLosses 2023-03-31 10548437 d:RetainedEarningsAccumulatedLosses 2022-03-31 10548437 c:FRS102 2022-04-01 2023-03-31 10548437 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10548437 c:FullAccounts 2022-04-01 2023-03-31 10548437 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10548437 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 10548437









FIRST CHOICE DOORS & WINDOWS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
FIRST CHOICE DOORS & WINDOWS LIMITED
REGISTERED NUMBER: 10548437

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,794
5,404

  
5,794
5,404

Current assets
  

Stocks
  
85,999
40,300

Debtors: amounts falling due within one year
 5 
10,360
-

Cash at bank and in hand
 6 
187,746
258,990

  
284,105
299,290

Creditors: amounts falling due within one year
 7 
(268,703)
(272,778)

Net current assets
  
 
 
15,402
 
 
26,512

Total assets less current liabilities
  
21,196
31,916

  

Net assets
  
21,196
31,916


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
21,096
31,816

  
21,196
31,916


Page 1

 
FIRST CHOICE DOORS & WINDOWS LIMITED
REGISTERED NUMBER: 10548437
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 October 2023.




Rebecca Emily Clark
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FIRST CHOICE DOORS & WINDOWS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

 
FIRST CHOICE DOORS & WINDOWS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.Accounting policies (continued)

 
1.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
1.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
1.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
1.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
FIRST CHOICE DOORS & WINDOWS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.Accounting policies (continued)


1.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance
Fixtures and fittings
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
1.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
FIRST CHOICE DOORS & WINDOWS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.


General information

First Choice Doors and Windows Limited is a private company limited by shares, registered in the United Kingdom number 10548437.
 Its registered office is Unit 9 Fordhouse Industrial Estate, Steel Drive, Wolverhampton, WV10 9XA.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2022 - 3).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2022
1,177
5,380
6,557


Additions
1,712
-
1,712



At 31 March 2023

2,889
5,380
8,269



Depreciation


At 1 April 2022
346
807
1,153


Charge for the period on owned assets
636
686
1,322



At 31 March 2023

982
1,493
2,475



Net book value



At 31 March 2023
1,907
3,887
5,794



At 31 March 2022
831
4,573
5,404


5.


Debtors

2023
2022
£
£


Trade debtors
10,360
-

10,360
-


Page 6

 
FIRST CHOICE DOORS & WINDOWS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
187,745
258,990

187,745
258,990



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
33,205
42,891

Trade creditors
31,998
32,079

Amounts owed to group undertakings
20,000
20,000

Corporation tax
6,934
13,115

Other taxation and social security
44,674
32,157

Other creditors
128,817
130,761

Accruals and deferred income
3,075
1,775

268,703
272,778



8.


Pension commitments

 
Page 7