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REGISTERED NUMBER: 07035683 (England and Wales)















Unaudited Financial Statements

for the Period 1 October 2023 to 31 December 2024

for

First Direct Developments Limited

First Direct Developments Limited (Registered number: 07035683)






Contents of the Financial Statements
for the Period 1 October 2023 to 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


First Direct Developments Limited

Company Information
for the Period 1 October 2023 to 31 December 2024







DIRECTOR: T Baxter





REGISTERED OFFICE: 36A Market Street
New Mills
Derbyshire
SK22 4AA





REGISTERED NUMBER: 07035683 (England and Wales)





ACCOUNTANTS: DLA Chartered Accountants
36A Market Street
New Mills
High Peak
SK22 4AA

First Direct Developments Limited (Registered number: 07035683)

Balance Sheet
31 December 2024

31.12.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 459,605 548,355
Investments 5 500,000 500,000
959,605 1,048,355

CURRENT ASSETS
Stocks - 500
Debtors 6 55,401 28,738
Cash at bank and in hand 1,046,615 1,469,205
1,102,016 1,498,443
CREDITORS
Amounts falling due within one year 7 503,994 700,216
NET CURRENT ASSETS 598,022 798,227
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,557,627

1,846,582

CREDITORS
Amounts falling due after more than one year 8 (4,167 ) (16,667 )

PROVISIONS FOR LIABILITIES (83,388 ) (108,993 )
NET ASSETS 1,470,072 1,720,922

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,469,972 1,720,822
SHAREHOLDERS' FUNDS 1,470,072 1,720,922

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 February 2025 and were signed by:





T Baxter - Director


First Direct Developments Limited (Registered number: 07035683)

Notes to the Financial Statements
for the Period 1 October 2023 to 31 December 2024

1. STATUTORY INFORMATION

First Direct Developments 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.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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 Income Statement, 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 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 2 (2023 - 2 ) .

First Direct Developments Limited (Registered number: 07035683)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 31 December 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 779,064 93 32,281 6,095 817,533
Additions 138,902 - - - 138,902
Disposals (93,372 ) - - - (93,372 )
At 31 December 2024 824,594 93 32,281 6,095 863,063
DEPRECIATION
At 1 October 2023 235,475 93 27,972 5,638 269,178
Charge for period 157,526 - 4,309 457 162,292
Eliminated on disposal (28,012 ) - - - (28,012 )
At 31 December 2024 364,989 93 32,281 6,095 403,458
NET BOOK VALUE
At 31 December 2024 459,605 - - - 459,605
At 30 September 2023 543,589 - 4,309 457 548,355

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023
and 31 December 2024 500,000
NET BOOK VALUE
At 31 December 2024 500,000
At 30 September 2023 500,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 30.9.23
£    £   
Trade debtors 10,500 -
Tax 44,901 -
VAT - 28,738
55,401 28,738

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 30.9.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 208
Trade creditors 25,518 42,458
Tax - 135,957
Social security and other taxes 307 549
VAT 6,960 -
Directors' current accounts 457,974 490,261
Accrued expenses 3,235 20,783
503,994 700,216

First Direct Developments Limited (Registered number: 07035683)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 31 December 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 30.9.23
£    £   
Bank loans - 1-2 years 4,167 10,000
Bank loans - 2-5 years - 6,667
4,167 16,667