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REGISTERED NUMBER: 13712088 (England and Wales)















Financial Statements for the Year Ended 29 February 2024

for

First Technology Holdings Ltd

First Technology Holdings Ltd (Registered number: 13712088)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


First Technology Holdings Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr G Sharp
Mr A Sharp
Mr D Stow





SECRETARY: RF Secretaries Limited





REGISTERED OFFICE: 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ





REGISTERED NUMBER: 13712088 (England and Wales)





AUDITORS: Underwood Green Limited, Statutory Auditor
Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS

First Technology Holdings Ltd (Registered number: 13712088)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,120 -
Tangible assets 5 6,928 -
12,048 -

CURRENT ASSETS
Stocks 6 1,073 -
Debtors 7 1,517,223 376,310
Cash at bank 101,584 343,842
1,619,880 720,152
CREDITORS
Amounts falling due within one year 8 1,606,418 711,603
NET CURRENT ASSETS 13,462 8,549
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,510

8,549

PROVISIONS FOR LIABILITIES 3,012 -
NET ASSETS 22,498 8,549

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 22,398 8,449
SHAREHOLDERS' FUNDS 22,498 8,549

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 27 November 2024 and were signed on its behalf by:





Mr G Sharp - Director


First Technology Holdings Ltd (Registered number: 13712088)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

First Technology Holdings 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.

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 to include sales related bonus/royalties earned. Revenue is accounted for when products or services are supplied to the company's customers.

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.

Computer software is being amortised evenly over its estimated useful life of 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 16.33% on cost
Computer equipment - 33% 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.

Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, and loans from and to related parties.

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.

First Technology Holdings Ltd (Registered number: 13712088)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
Additions 8,777
At 29 February 2024 8,777
AMORTISATION
Amortisation for year 3,657
At 29 February 2024 3,657
NET BOOK VALUE
At 29 February 2024 5,120

First Technology Holdings Ltd (Registered number: 13712088)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
Additions 4,614 2,969 7,583
At 29 February 2024 4,614 2,969 7,583
DEPRECIATION
Charge for year 109 546 655
At 29 February 2024 109 546 655
NET BOOK VALUE
At 29 February 2024 4,505 2,423 6,928

6. STOCKS
2024 2023
£    £   
Stocks 1,073 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,153,617 111,876
Amounts owed by group undertakings 129,593 -
Other debtors 3,000 5,600
VAT - 2,624
Prepayments and accrued income 231,013 256,210
1,517,223 376,310

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 188,682 28,736
Amounts owed to group undertakings 1,341,491 619,880
Tax 2,639 2,081
Social security and other taxes 33,004 10,448
VAT 24,668 -
Other creditors 5,034 575
Accruals and deferred income 10,900 49,883
1,606,418 711,603

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

First Technology Holdings Ltd (Registered number: 13712088)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. CALLED UP SHARE CAPITAL - continued

The above shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gary Underwood (Senior Statutory Auditor)
for and on behalf of Underwood Green Limited, Statutory Auditor

11. PENSION COMMITMENTS

The entity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. The amount charged against profits represent the contributions payable to the scheme in respect of the accounts accounting period and amounts to £5,806 (2023: £2,797) There were £0 of outstanding contributions payable at the year end.

12. RELATED PARTY DISCLOSURES

The balance outstanding on interest free loans provided from companies with common directors amounted to £1,341,491 (2023: £619,880).

The balance outstanding on interest free loans provided to companies with common directors amounted to £129,593 (2023: £0).

13. ULTIMATE PARENT COMPANY

First Technology Investments (Pty) Ltd (incorporated in South Africa) is regarded by the directors as being the company's ultimate parent company.