Registered number
09264576
First Class Financial Advisers Limited
Unaudited Filleted Accounts
30 November 2023
First Class Financial Advisers Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of First Class Financial Advisers Limited for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of First Class Financial Advisers Limited for the year ended 30 November 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
….......................................
Fordhams & Co Limited
Chartered Accountants
Studio 6
6 Hornsey Street
London
N7 8GR
20 August 2024
First Class Financial Advisers Limited
Registered number: 09264576
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Current assets
Cash at bank and in hand 2,680 2,676
Creditors: amounts falling due within one year 3 (9,639) (14,646)
Net current liabilities (6,959) (11,970)
Net liabilities (6,959) (11,970)
Capital and reserves
Called up share capital 1 1
Profit and loss account (6,960) (11,971)
Shareholder's funds (6,959) (11,970)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
….......................
M P M'Clelland
Director
Approved by the board on 20 August 2024
First Class Financial Advisers Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,175 196
Other creditors 8,464 14,450
9,639 14,646
4 Other information
First Class Financial Advisers Limited is a private company limited by shares and incorporated in England. Its registered office is:
132 Eastwood Road
Leigh- On- Sea
Essex
SS9 3AD
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