Company Registration No. 04631308 (England and Wales)
First Recovery Limited
Unaudited accounts
for the year ended 30 June 2023
First Recovery Limited
Unaudited accounts
Contents
First Recovery Limited
Company Information
for the year ended 30 June 2023
Company Number
04631308 (England and Wales)
Registered Office
Brightwell Grange
Britwell Road Burnham
Slough
SL1 8DF
United Kingdom
Accountants
Blue Cube Accountants Limited
Britwell Grange
Britwell Road
Burnham
SL1 8DF
First Recovery Limited
Statement of financial position
as at 30 June 2023
Cash at bank and in hand
28,762
50,025
Creditors: amounts falling due within one year
(35,712)
(37,154)
Net current assets
8,805
21,944
Total assets less current liabilities
8,805
21,944
Creditors: amounts falling due after more than one year
(9,583)
(14,183)
Net (liabilities)/assets
(778)
7,761
Called up share capital
54
54
Profit and loss account
(832)
7,707
Shareholders' funds
(778)
7,761
For the year ending 30 June 2023 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 director acknowledges his 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 and authorised for issue on 1 February 2024 and were signed on its behalf by
Paul Jackson
Director
Company Registration No. 04631308
First Recovery Limited
Notes to the Accounts
for the year ended 30 June 2023
First Recovery Limited is a private company, limited by shares, registered in England and Wales, registration number 04631308. The registered office is Brightwell Grange, Britwell Road Burnham, Slough, SL1 8DF, United Kingdom.
These financial statements have been prepared in compliance with FRS 102, ’The Financial Reporting Standard applicable to 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.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight line
Computer equipment
50% Straight line
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charge to the profit & loss account in the period to which they relate.
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.
First Recovery Limited
Notes to the Accounts
for the year ended 30 June 2023
3
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2022
3,660
18,641
22,301
At 30 June 2023
3,660
18,641
22,301
At 1 July 2022
3,660
18,641
22,301
At 30 June 2023
3,660
18,641
22,301
Amounts falling due within one year
Trade debtors
15,755
6,570
Accrued income and prepayments
-
1,508
5
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
4,600
4,600
Taxes and social security
11,369
8,816
Loans from directors
10,413
-
6
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
54 Ordinary shares of £1 each
54
54
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).