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REGISTERED NUMBER: 03169837 (England and Wales)















FIRSTCAST LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023






FIRSTCAST LIMITED (REGISTERED NUMBER: 03169837)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FIRSTCAST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: D Feltham





REGISTERED OFFICE: The Exchange
5 Bank Street
Bury
BL9 0DN





REGISTERED NUMBER: 03169837 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
The Exchange
5 Bank Street
Bury
BL9 0DN

FIRSTCAST LIMITED (REGISTERED NUMBER: 03169837)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 1,002,349 991,721

CURRENT ASSETS
Debtors 5 501,903 508,125
Cash at bank 1,386 1,077
503,289 509,202
CREDITORS
Amounts falling due within one year 6 (131,170 ) (149,087 )
NET CURRENT ASSETS 372,119 360,115
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,374,468

1,351,836

CREDITORS
Amounts falling due after more than one
year

7

(288,420

)

(288,420

)

PROVISIONS FOR LIABILITIES (98,951 ) (68,450 )
NET ASSETS 987,097 994,966

CAPITAL AND RESERVES
Called up share capital 70 70
Share premium 93,399 93,399
Other reserves 491,202 491,202
Retained earnings 402,426 410,295
SHAREHOLDERS' FUNDS 987,097 994,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

FIRSTCAST LIMITED (REGISTERED NUMBER: 03169837)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2023


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 6 March 2024 and were signed by:





D Feltham - Director


FIRSTCAST LIMITED (REGISTERED NUMBER: 03169837)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Firstcast Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03169837 and its registered office is The Exchange, 5 Bank Street, Bury, BL9 0DN.

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 as modified by the revaluation of certain assets.

The director has considered the business risks and believe that the company is well placed to manage these risks successfully, thus the going concern basis of accounting has been adopted in preparing these financial statements.

Critical accounting estimates and judgements
In the application of the companies accounting policies, the director is required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from those estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Determining the fair value of investment property is considered to be a key judgement.

Revenue
Revenue comprises the aggregate of the fair value of the rental services provided. Revenue is recognised as those services are provided to the occupants of the properties.

Investment properties
Investment properties are recognised at fair value. Revaluation surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

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 income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.


FIRSTCAST LIMITED (REGISTERED NUMBER: 03169837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 991,721
Additions 10,628
At 30 June 2023 1,002,349
NET BOOK VALUE
At 30 June 2023 1,002,349
At 30 June 2022 991,721

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2017 474,446
Cost 527,903
1,002,349

Investment properties were valued by Bilfinger GVA, property consultant, in September 2016.

The director valued the properties as at 30 June 2023 at the same carrying value.

FIRSTCAST LIMITED (REGISTERED NUMBER: 03169837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 501,903 508,125

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 8,801 7,361
Taxation and social security 3,872 2,641
Other creditors 118,497 139,085
131,170 149,087

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 288,420 288,420

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans payable after 5 years 288,420 288,420

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 288,420 288,420

There is a fixed charge on the company's properties.

9. RELATED PARTY DISCLOSURES

Included within other debtors are amounts totalling £501,903 (2022: £508,125) due from related companies.

Included within trade creditors at the year end are amounts due to related companies totalling £8,801 (2022: £8,261).

Included within other creditors are amounts totalling £118,497 (2022: £139,085) due to related companies.