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Registered Number: 14892842
England and Wales

 

 

 


Unaudited Financial Statements

for the period ended 31 May 2024

for

FIRST CHOICE FINANCIAL SERVICES LIMITED

 
 
Notes
 
2024
£
Fixed assets    
Tangible fixed assets 3 1,224 
1,224 
Current assets    
Debtors 4 3,739 
Cash at bank and in hand 675 
4,414 
Creditors: amount falling due within one year 5 (4,890)
Net current assets (476)
 
Total assets less current liabilities 748 
Provisions for liabilities 6 (233)
Net assets 515 
 

Capital and reserves
   
Called up share capital 7 100 
Profit and loss account 415 
Shareholders' funds 515 
 


For the period ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 21 February 2025 and were signed by:


-------------------------------
P Neal
Director
1
General Information
First Choice Financial Services Limited is a private company, limited by shares, registered in England and Wales, registration number 14892842, registration address 1a Sandringham Drive, Spondon, Derby, DE21 7QL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard).
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 0.
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 24 May 2023  
Additions 1,700    1,700 
Disposals  
At 31 May 2024 1,700    1,700 
Depreciation
At 24 May 2023  
Charge for period 476    476 
On disposals  
At 31 May 2024 476    476 
Net book values
Closing balance as at 31 May 2024 1,224    1,224 
Opening balance as at 24 May 2023  


4.

Debtors: amounts falling due within one year

2024
£
Amounts Recoverable on Contracts 3,739 
3,739 

5.

Creditors: amount falling due within one year

2024
£
Corporation Tax 4,087 
Accrued Expenses 800 
Directors' Current Accounts
4,890 

6.

Provisions for liabilities

2024
£
Charged to Profit & Loss 233 
233 

7.

Share Capital

Allotted, called up and fully paid
2024
£
100 Class A shares of £1.00 each 100 
100 

2