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REGISTERED NUMBER: 04348297 (England and Wales)





























Financial Statements

for the Year Ended 31 March 2024

for

First Degree Limited

First Degree Limited (Registered number: 04348297)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 5

First Degree Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P Ravening
Mrs A B Ravening





SECRETARY: P Ravening





REGISTERED OFFICE: Unit 6
Brewery Mews Centre
St John's Road
Isleworth
Middlesex
TW7 6PH





REGISTERED NUMBER: 04348297 (England and Wales)





ACCOUNTANTS: Howard Modi & Co
99 Wynchgate
London
N14 6RJ

First Degree Limited (Registered number: 04348297)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,402 1,869

CURRENT ASSETS
Stocks 40,085 42,860
Debtors 5 114,599 147,518
Cash at bank and in hand 44,450 2,858
199,134 193,236
CREDITORS
Amounts falling due within one year 6 163,289 165,026
NET CURRENT ASSETS 35,845 28,210
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,247

30,079

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 37,147 29,979
SHAREHOLDERS' FUNDS 37,247 30,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





P Ravening - Director


First Degree Limited (Registered number: 04348297)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

First Degree Limited 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 (2023 - 4 ) .

First Degree Limited (Registered number: 04348297)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 21,509
DEPRECIATION
At 1 April 2023 19,640
Charge for year 467
At 31 March 2024 20,107
NET BOOK VALUE
At 31 March 2024 1,402
At 31 March 2023 1,869

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 94,390 131,307
Other debtors 20,209 16,211
114,599 147,518

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,667 31,667
Trade creditors 87,614 69,042
Taxation and social security 3,815 7,608
Other creditors 50,193 56,709
163,289 165,026

First Degree Limited

Report of the Accountants to the Directors of
First Degree Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages three to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Howard Modi & Co
99 Wynchgate
London
N14 6RJ


5 September 2024