First Shield International Ltd 13502932 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is business consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true true 13502932 2023-01-01 2023-12-31 13502932 2023-12-31 13502932 core:RetainedEarningsAccumulatedLosses 2023-12-31 13502932 core:ShareCapital 2023-12-31 13502932 core:CurrentFinancialInstruments 2023-12-31 13502932 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13502932 core:FurnitureFittingsToolsEquipment 2023-12-31 13502932 bus:SmallEntities 2023-01-01 2023-12-31 13502932 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13502932 bus:FullAccounts 2023-01-01 2023-12-31 13502932 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13502932 bus:RegisteredOffice 2023-01-01 2023-12-31 13502932 bus:Director1 2023-01-01 2023-12-31 13502932 bus:Director3 2023-01-01 2023-12-31 13502932 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13502932 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 13502932 core:OfficeEquipment 2023-01-01 2023-12-31 13502932 1 2023-01-01 2023-12-31 13502932 countries:EnglandWales 2023-01-01 2023-12-31 13502932 2022-12-31 13502932 core:FurnitureFittingsToolsEquipment 2022-12-31 13502932 2021-07-09 2022-12-31 13502932 2022-12-31 13502932 core:RetainedEarningsAccumulatedLosses 2022-12-31 13502932 core:ShareCapital 2022-12-31 13502932 core:CurrentFinancialInstruments 2022-12-31 13502932 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 13502932 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 13502932

First Shield International Ltd

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2023

 

First Shield International Ltd
(Registration number: 13502932)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

First Shield International Ltd
(Registration number: 13502932)

Company Information

Directors

Mr S A Lavis MBE

Mrs D L Lavis

Registered office

124 City Road
London
EC1V 2NX

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

First Shield International Ltd
(Registration number: 13502932)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,543

1,795

Current assets

 

Debtors

5

23

13,676

Cash at bank and in hand

 

91,906

41,102

 

91,929

54,778

Creditors: Amounts falling due within one year

6

(13,722)

(13,859)

Net current assets

 

78,207

40,919

Total assets less current liabilities

 

81,750

42,714

Provisions for liabilities

(886)

(341)

Net assets

 

80,864

42,373

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

80,862

42,371

Total equity

 

80,864

42,373

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 September 2024 and signed on its behalf by:
 

.........................................
Mr S A Lavis MBE
Director

 

First Shield International Ltd
(Registration number: 13502932)

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
124 City Road
London
EC1V 2NX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

First Shield International Ltd
(Registration number: 13502932)

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

Over 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

First Shield International Ltd
(Registration number: 13502932)

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

First Shield International Ltd
(Registration number: 13502932)

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

2,693

2,693

Additions

3,968

3,968

At 31 December 2023

6,661

6,661

Depreciation

At 1 January 2023

898

898

Charge for the year

2,220

2,220

At 31 December 2023

3,118

3,118

Carrying amount

At 31 December 2023

3,543

3,543

At 31 December 2022

1,795

1,795

5

Debtors

2023
£

2022
£

Other debtors

-

13,650

Prepayments and accrued income

23

26

Total current trade and other debtors

23

13,676

6

Creditors

2023
£

2022
£

Due within one year

Taxation and social security

10,595

9,616

Other creditors

1,327

2,443

Accrued expenses

1,800

1,800

13,722

13,859

7

Parent and ultimate parent undertaking

The company's immediate parent is SD3 Limited, incorporated in England and Wales.