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REGISTERED NUMBER: 06408068 (England and Wales)



















1ST TICKETS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






1ST TICKETS LIMITED (REGISTERED NUMBER: 06408068)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


1ST TICKETS LIMITED (REGISTERED NUMBER: 06408068)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,869 6,164

CURRENT ASSETS
Debtors 5 42 9,924
Cash at bank and in hand 243,119 239,004
243,161 248,928
CREDITORS
Amounts falling due within one year 6 123,790 173,189
NET CURRENT ASSETS 119,371 75,739
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,240

81,903

CREDITORS
Amounts falling due after more than one year 7 (32,407 ) (37,963 )

PROVISIONS FOR LIABILITIES (290 ) (293 )
NET ASSETS 92,543 43,647

CAPITAL AND RESERVES
Called up share capital 10,002 10,002
Retained earnings 82,541 33,645
SHAREHOLDERS' FUNDS 92,543 43,647

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by:



Mr B D Sheehan - Director


1ST TICKETS LIMITED (REGISTERED NUMBER: 06408068)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

1st Tickets Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06408068

Registered office: Bedford I-Lab
Priory Business Park
Stannard Way
Bedford
MK44 3RZ

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


1ST TICKETS LIMITED (REGISTERED NUMBER: 06408068)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2022 10,996 8,250 15,554 34,800
Additions 582 - 1,381 1,963
At 31 August 2023 11,578 8,250 16,935 36,763
DEPRECIATION
At 1 September 2022 7,995 7,424 13,217 28,636
Charge for year 813 207 1,238 2,258
At 31 August 2023 8,808 7,631 14,455 30,894
NET BOOK VALUE
At 31 August 2023 2,770 619 2,480 5,869
At 31 August 2022 3,001 826 2,337 6,164

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 42 9,924

1ST TICKETS LIMITED (REGISTERED NUMBER: 06408068)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,556 8,179
Taxation and social security 43,180 30,995
Other creditors 75,054 134,015
123,790 173,189

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 32,407 37,963

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,185 15,741

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £19,500 (2022 - £24,000) were paid to the directors .

Dividends amounting to £2,000 (2022 - £2,000) were paid to close family members of the directors during the year.

At the balance sheet date the directors were owed £36,428 (2022 - £26,996).