Mediation First Limited 14044792 true 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is is a holding company Digita Accounts Production Advanced 6.30.9574.0 true Ms L Caldwell Mr T Elwell false 14044792 2023-04-01 2024-03-31 14044792 2024-03-31 14044792 bus:Director2 1 2024-03-31 14044792 core:ShareCapital 2024-03-31 14044792 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14044792 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 14044792 core:AllSubsidiaries 2024-03-31 14044792 bus:FRS102 2023-04-01 2024-03-31 14044792 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 14044792 bus:FullAccounts 2023-04-01 2024-03-31 14044792 bus:RegisteredOffice 2023-04-01 2024-03-31 14044792 bus:Director1 2023-04-01 2024-03-31 14044792 bus:Director2 2023-04-01 2024-03-31 14044792 bus:Director2 1 2023-04-01 2024-03-31 14044792 bus:EntityHasNeverTraded 2023-04-01 2024-03-31 14044792 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14044792 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 14044792 core:AllSubsidiaries 2023-04-01 2024-03-31 14044792 countries:England 2023-04-01 2024-03-31 14044792 bus:Director2 1 2023-03-31 14044792 2023-03-31 14044792 core:ShareCapital 2023-03-31 14044792 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 14044792 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP

Registration number: 14044792

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Mediation First Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Mediation First Limited

Statement of Comprehensive Income for the Year Ended 31 March 2024

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Mediation First Limited

(Registration number: 14044792)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

3

360,000

-

Current assets

 

Cash at bank and in hand

 

100

2

Creditors: Amounts falling due within one year

5

(88,226)

-

Net current (liabilities)/assets

 

(88,126)

2

Total assets less current liabilities

 

271,874

2

Creditors: Amounts falling due after more than one year

5

(271,872)

-

Net assets

 

2

2

Capital and reserves

 

Called up share capital

2

2

Shareholders' funds

 

2

2

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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.

Approved and authorised by the Board on 28 November 2024 and signed on its behalf by:
 


Ms L Caldwell
Director


Mr T Elwell
Director

 

Mediation First Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Mediation First Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

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.

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.

3

Investments

2024
£

2023
£

Investments in subsidiaries

360,000

-

4

Cash and cash equivalents

2024
£

2023
£

Cash on hand

100

-

Cash at bank

-

2

100

2

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Amounts due to related parties

7

46,617

-

Other payables

 

41,609

-

 

88,226

-

Due after one year

 

Other non-current financial liabilities

 

271,872

-

 

Mediation First Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Reserves

Profit and loss account

This reserve records retained earnings and accumulated losses.

7

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Other payments made to company by director
£

At 31 March 2024
£

Mr T Elwell

-

(2)

100

98

Summary of transactions with entities with joint control or significant interest

Loans from related parties

2024

Subsidiary
£

Total
£

Advanced

46,519

46,519

At end of period

46,519

46,519