Company registration number: 07211962
Unaudited financial statements
for the year ended 30 April 2024
for
First Prospect Creative Limited
Pages for filing with the Registrar
First Prospect Creative Limited
Accountants' Report to the Director for the preparation of the unaudited financial
statements
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of First Prospect Creative Limited for the year ended 30 April 2024 which comprise the Profit and loss account, Balance sheet and the notes to the financial statements from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Director of First Prospect Creative Limited, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of First Prospect Creative Limited and state those matters that we have agreed to state to them in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First Prospect Creative Limited and its Director for our work, or for this report.
It is your duty to ensure that First Prospect Creative Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of First Prospect Creative Limited. You consider that First Prospect Creative Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of First Prospect Creative Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Armstrong Tax Solutions
Flat 4, 94 Ampthill Road
Flitwick
Bedford
Bedfordshire
MK45 1BA
United Kingdom
Date: 6 January 2025
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Company registration number: 07211962
First Prospect Creative Limited
Balance sheet
as at 30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 1,410 1,880
1,410 1,880
Current assets
Debtors 248 1,714
Cash at bank and in hand 2,736 3,844
2,984 5,558
Creditors: amounts falling due within
one year
(3,513) (6,168)
Net current liabilities (529) (610)
Total assets less current liabilities 881 1,270
NET ASSETS 881 1,270
Capital and reserves
Called up share capital 10 10
Profit and loss account 871 1,260
TOTAL EQUITY 881 1,270
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 30 April 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 07211962
First Prospect Creative Limited
Balance sheet - continued
as at 30 April 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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr D Swann, Director
2 January 2025
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First Prospect Creative Limited
Notes to the financial statements
for the year ended 30 April 2024
1 Company information
First Prospect Creative Limited is a private company registered in England and Wales. Its registered number is 07211962. The company is limited by shares. Its registered office is 37 Trafalgar Drive, Flitwick, Bedford, Bedfordshire, MK45 1EF.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Fixtures & fittings - 25% reducing balance
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
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First Prospect Creative Limited
Notes to the financial statements - continued
for the year ended 30 April 2024
2 Accounting policies - continued
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 1 (2023 - 1).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 May 2023 13,318
At 30 April 2024 13,318
Depreciation
At 1 May 2023 11,438
Charge for year 470
At 30 April 2024 11,908
Net book value
At 30 April 2024 1,410
At 30 April 2023 1,880
5 Related party transactions
Included within creditors is an amount due to the director of £91 (2022: £300).
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