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REGISTERED NUMBER: 12843812 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 SEPTEMBER 2022 TO 29 FEBRUARY 2024

FOR

FIRST POINT FOODS LTD

FIRST POINT FOODS LTD (REGISTERED NUMBER: 12843812)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 SEPTEMBER 2022 TO 29 FEBRUARY 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


FIRST POINT FOODS LTD (REGISTERED NUMBER: 12843812)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 108,990 19,873

CURRENT ASSETS
Stocks 5 198,283 43,250
Debtors 6 265,033 96,205
Cash at bank and in hand 21,039 8,791
484,355 148,246
CREDITORS
Amounts falling due within one year 7 404,258 116,201
NET CURRENT ASSETS 80,097 32,045
TOTAL ASSETS LESS CURRENT
LIABILITIES

189,087

51,918

CREDITORS
Amounts falling due after more than one
year

8

(93,119

)

(4,174

)

PROVISIONS FOR LIABILITIES (27,248 ) (3,776 )
NET ASSETS 68,720 43,968

CAPITAL AND RESERVES
Called up share capital 9 100 3
Retained earnings 68,620 43,965
SHAREHOLDERS' FUNDS 68,720 43,968

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 February 2024.

The members have not required the Company to obtain an audit of its financial statements for the period ended 29 February 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.

FIRST POINT FOODS LTD (REGISTERED NUMBER: 12843812)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 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 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 13 November 2024 and were signed on its behalf by:





M P Naylor - Director


FIRST POINT FOODS LTD (REGISTERED NUMBER: 12843812)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 SEPTEMBER 2022 TO 29 FEBRUARY 2024


1. STATUTORY INFORMATION

First Point Foods Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12843812

Registered office: 180-184 Barford Street
Birmingham
B5 7EP

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance

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 period 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 statement of financial position date.


FIRST POINT FOODS LTD (REGISTERED NUMBER: 12843812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2022 TO 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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 period was 14 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 September 2022 20,743 6,792 27,535
Additions 190,870 - 190,870
Disposals (43,743 ) - (43,743 )
At 29 February 2024 167,870 6,792 174,662
DEPRECIATION
At 1 September 2022 6,684 978 7,662
Charge for period 62,951 1,744 64,695
Eliminated on disposal (6,685 ) - (6,685 )
At 29 February 2024 62,950 2,722 65,672
NET BOOK VALUE
At 29 February 2024 104,920 4,070 108,990
At 31 August 2022 14,059 5,814 19,873

5. STOCKS
2024 2022
£    £   
Stocks 198,283 43,250

FIRST POINT FOODS LTD (REGISTERED NUMBER: 12843812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2022 TO 29 FEBRUARY 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 232,541 96,029
Other debtors 32,492 176
265,033 96,205

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Hire purchase contracts 31,862 4,777
Trade creditors 327,527 94,914
Taxation and social security 3,402 13,067
Other creditors 41,467 3,443
404,258 116,201

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2022
£    £   
Hire purchase contracts 93,119 4,174

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2022
value: £    £   
100 Ordinary £1 100 3

97 Ordinary shares of £1 were issued during the period for cash of £ 97 .

10. RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:


2024 2022
£    £   
Amounts owed by/(to) M Naylor (243 ) (243 )

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C Michaela.