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REGISTERED NUMBER: 04498842 (England and Wales)












Financial Statements

for the Year Ended 31 October 2023

for

Allfirst Limited

Allfirst Limited (Registered number: 04498842)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Allfirst Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr J.S. Sandall
Mrs P.A. Sandall
Mr G A Sandall





SECRETARY: Mrs P.A. Sandall





REGISTERED OFFICE: Williamston House
7 Goat Street
Haverfordwest
Pembrokeshire
SA61 1PX





REGISTERED NUMBER: 04498842 (England and Wales)

Allfirst Limited (Registered number: 04498842)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 12,574 17,412
12,574 17,412

CURRENT ASSETS
Stocks 6 6,309 6,309
Debtors 7 215 2,981
Cash at bank and in hand 800 2,316
7,324 11,606
CREDITORS
Amounts falling due within one year 8 85,408 56,991
NET CURRENT LIABILITIES (78,084 ) (45,385 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(65,510

)

(27,973

)

CREDITORS
Amounts falling due after more than one year 9 (26,521 ) (25,833 )

PROVISIONS FOR LIABILITIES (3,143 ) (3,308 )
NET LIABILITIES (95,174 ) (57,114 )

CAPITAL AND RESERVES
Called up share capital 1,900 1,900
Retained earnings (97,074 ) (59,014 )
SHAREHOLDERS' FUNDS (95,174 ) (57,114 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

Allfirst Limited (Registered number: 04498842)

Balance Sheet - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:





Mr G A Sandall - Director


Allfirst Limited (Registered number: 04498842)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Allfirst 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 15% on cost

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 Statement of Income and Retained Earnings, 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.

Allfirst Limited (Registered number: 04498842)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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.

Government grants
Capital grants received are classified as deferred income and are amortised over a ten year period on a straight line basis.

Revenue based grants are credited to the profit and loss account in the period receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 100,000
AMORTISATION
At 1 November 2022
and 31 October 2023 100,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

Allfirst Limited (Registered number: 04498842)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 November 2022 242,322 103,203 48,391
Additions - 598 -
At 31 October 2023 242,322 103,801 48,391
DEPRECIATION
At 1 November 2022 242,322 90,350 48,391
Charge for year - 3,125 -
At 31 October 2023 242,322 93,475 48,391
NET BOOK VALUE
At 31 October 2023 - 10,326 -
At 31 October 2022 - 12,853 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 8,995 2,133 405,044
Additions - - 598
At 31 October 2023 8,995 2,133 405,642
DEPRECIATION
At 1 November 2022 4,498 2,071 387,632
Charge for year 2,249 62 5,436
At 31 October 2023 6,747 2,133 393,068
NET BOOK VALUE
At 31 October 2023 2,248 - 12,574
At 31 October 2022 4,497 62 17,412

6. STOCKS
31.10.23 31.10.22
£    £   
Bar Stocks 5,250 5,250
Closing Bird Stock 1,059 1,059
6,309 6,309

Allfirst Limited (Registered number: 04498842)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 181 -
Directors' current accounts 2 -
Tax - 2,981
Prepayments 32 -
215 2,981

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 28,831 10,000
Trade creditors 31,757 22,523
Tax 70 251
Social security and other taxes 383 657
VAT 24,367 23,123
Directors' current accounts - 437
85,408 56,991

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans - 1-2 years 4,750 -
Bank loans - 2-5 years 14,250 25,833
Bank loans more 5 yr by instal 7,521 -
26,521 25,833

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,521 -

10. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank overdraft 24,081 -
Bank loans 31,271 35,833
55,352 35,833

Bank borrowings are secured by means of a fixed and floating charge over the company's assets.

Allfirst Limited (Registered number: 04498842)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
Mr J.S. Sandall and Mr G A Sandall
Balance outstanding at start of year (437 ) (27,978 )
Amounts advanced 32,364 41,814
Amounts repaid (31,927 ) (14,273 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (437 )

12. RELATED PARTY DISCLOSURES

During the period the company paid rent of £48,020 (2022 £33,500) to Mr J.S and Mrs P.A Sandall for use of its business premises.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J.S & Mrs P.A Sandall.

14. GOING CONCERN

At the balance sheet date the company's liabilities exceeded its assets by £95,174. The accounts have been prepared under the going concern basis which assumes that the company's directors and bankers will continue to provided adequate financial resources over future periods.