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REGISTERED NUMBER: 12268043 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

1st Choice Incorporations Ltd

1st Choice Incorporations Ltd (Registered number: 12268043)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


1st Choice Incorporations Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: R C Mohabaty





SECRETARY: Best4Business Limited (corporate)





REGISTERED OFFICE: 9 Caxton House
Broad Street
Cambourne
Cambridgeshire
CB23 6JN





REGISTERED NUMBER: 12268043 (England and Wales)

1st Choice Incorporations Ltd (Registered number: 12268043)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
CURRENT ASSETS
Stocks 10,000 8,000
Debtors 4 8,935 318
Cash at bank 735 308
19,670 8,626
CREDITORS
Amounts falling due within one year 5 19,570 8,526
NET CURRENT ASSETS 100 100
TOTAL ASSETS LESS CURRENT
LIABILITIES

100

100

CAPITAL AND RESERVES
Called up share capital 6 100 100
SHAREHOLDERS' FUNDS 100 100

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 March 2024 and were signed by:





R C Mohabaty - Director


1st Choice Incorporations Ltd (Registered number: 12268043)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

1st Choice Incorporations Ltd 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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
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
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.

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.

3. EMPLOYEES AND DIRECTORS

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

1st Choice Incorporations Ltd (Registered number: 12268043)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 655 218
Other debtors 8,280 100
8,935 318

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 222 222
Taxation and social security 17,441 19,831
Other creditors 1,907 (11,527 )
19,570 8,526

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1,000 Ordinary 0.10 100 100

7. RELATED PARTY DISCLOSURES

Best4business Accountants & Company Ltd

The company purchases, on normal commercial terms, management, accounting, bookkeeping and payroll services from Best4business Accountants & Company Limited, a company registered in England with number 4331988, of which the company is a wholly-owned subsidiary company, and of which Mr R C Mohabaty is a director.

The value of such purchases during the financial period being reported was £195,537 [2022: £156,091] (excluding VAT).

The company also sells, on normal commercial terms, company secretarial and incorporation services to Best4business Accountants & Company Limited. The value of such sales during the financial period being reported was £143,944 [2022: £133,504] (excluding VAT).

The total balance due from Best4business Accountants & Company Limited at the end of the year was £7,164 [2022: £12,106].

Taylor Keeble LLP

The company sells, on normal commercial terms, company secretarial and incorporation services to Taylor Keeble LLP, a limited liability partnership, registered in England with number OC412705, of which Mr R C Mohabaty is a designated partner.

The value of such sales during the financial period being reported was £2,184 [2022: £559] (excluding VAT).

The total balance due from Taylor Keeble LLP at the end of the year was £655 [2022: £218].

1st Choice Incorporations Ltd (Registered number: 12268043)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. ULTIMATE CONTROLLING PARTY AND CONTROLLING PARTY

The parent company is Best4business Accountants & Company Ltd, which owns 100% of the issued share capital of the company.

Best4business Accountants & Company Ltd is the ultimate beneficial owner of 1st Choice Incorporations Ltd, and is incorporated in England with company registration number 04331988.