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REGISTERED NUMBER: 06877578 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Finance First North East Limited

Finance First North East Limited (Registered number: 06877578)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Finance First North East Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr D Groom
Mr I S Sanderson
Mr M D Sharpe
Mr I G Huitson





SECRETARY: Mr M D Sharpe





REGISTERED OFFICE: Suite 8 Britannia House
Brignell Road
Riverside Park
Middlesbrough
Teesside
TS2 1PS





REGISTERED NUMBER: 06877578 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Finance First North East Limited (Registered number: 06877578)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 43,319 43,319
Cash at bank 13,804 13,804
57,123 57,123
CREDITORS
Amounts falling due within one year 6 (4,962 ) (4,962 )
NET CURRENT ASSETS 52,161 52,161
TOTAL ASSETS LESS CURRENT
LIABILITIES

52,161

52,161

CAPITAL AND RESERVES
Called up share capital 4 4
Profit and loss account 52,157 52,157
SHAREHOLDERS' FUNDS 52,161 52,161

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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.

The financial statements were approved by the Board of Directors and authorised for issue on 9 January 2025 and were signed on its behalf by:





Mr I S Sanderson - Director


Finance First North East Limited (Registered number: 06877578)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Finance First North East 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

4. EMPLOYEES AND DIRECTORS

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 43,319 43,319

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 4,962 4,962

Finance First North East Limited (Registered number: 06877578)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr D Groom
Balance outstanding at start of year 426 426
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 426

Mr M D Sharpe
Balance outstanding at start of year 816 816
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 816

Mr I G Huitson
Balance outstanding at start of year 816 816
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 816

These loans were unsecured, interest free and repayable on demand.