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REGISTERED NUMBER: 07907877 (England and Wales)















FIRSTSITE ENTERPRISES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






FIRSTSITE ENTERPRISES LTD (REGISTERED NUMBER: 07907877)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


FIRSTSITE ENTERPRISES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr G C Armitage
Ms D E Leacock
Mr R A Polom





REGISTERED OFFICE: Firstsite
Lewis Gardens
High Street
Colchester
CO1 1JH





REGISTERED NUMBER: 07907877 (England and Wales)

FIRSTSITE ENTERPRISES LTD (REGISTERED NUMBER: 07907877)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 12,271 15,588

CURRENT ASSETS
Stocks 37,005 46,246
Debtors 5 46,129 25,082
Cash at bank and in hand 22,869 74,962
106,003 146,290
CREDITORS
Amounts falling due within one year 6 (60,058 ) (119,726 )
NET CURRENT ASSETS 45,945 26,564
TOTAL ASSETS LESS CURRENT LIABILITIES 58,216 42,152

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 58,116 42,052
58,216 42,152

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.

FIRSTSITE ENTERPRISES LTD (REGISTERED NUMBER: 07907877)

BALANCE SHEET - continued
31 MARCH 2024


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 20 September 2024 and were signed on its behalf by:





Mr R A Polom - Director


FIRSTSITE ENTERPRISES LTD (REGISTERED NUMBER: 07907877)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Firstsite Enterprises 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.

The financial statements are prepared in Sterling, which is the functional currency of the company, rounded to the nearest £.

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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. There are no transactions or balances requiring significant judgements or assumptions in these financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services in the normal course of business, and is shown net of VAT and other sales related taxes.The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment - 20% & 25% straight line basis

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.


FIRSTSITE ENTERPRISES LTD (REGISTERED NUMBER: 07907877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


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 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.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

FIRSTSITE ENTERPRISES LTD (REGISTERED NUMBER: 07907877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023 30,902
Additions 1,864
At 31 March 2024 32,766
DEPRECIATION
At 1 April 2023 15,314
Charge for year 5,181
At 31 March 2024 20,495
NET BOOK VALUE
At 31 March 2024 12,271
At 31 March 2023 15,588

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,888 16,340
Amounts owed by group undertakings 21,181 -
Other debtors 514 557
Prepayments and accrued income 15,546 8,185
46,129 25,082

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 46,254 36,043
Amounts owed to group undertakings - 72,580
Other tax and social security - 134
Accruals and deferred income 13,804 10,969
60,058 119,726

FIRSTSITE ENTERPRISES LTD (REGISTERED NUMBER: 07907877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 2,250 2,700
Between one and five years - 2,250
2,250 4,950

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption available to wholly owned subsidiaries in relation to the disclose of material transactions with its parent company, Firstsite Limited.

9. PARENT COMPANY

The ultimate parent company is Firstsite Limited, a charitable company incorporated in England and Wales.