Registered number
03340410
FIRSTMARKET LIMITED
Filleted Accounts
31 August 2024
FIRSTMARKET LIMITED
Registered number: 03340410
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Current assets
Cash at bank and in hand 2 2
Creditors: amounts falling due within one year 4 (36,419) (35,806)
Net current liabilities (36,417) (35,804)
Total assets less current liabilities (36,417) (35,804)
Creditors: amounts falling due after more than one year 5 (17,141) (19,893)
Net liabilities (53,558) (55,697)
Capital and reserves
Called up share capital 100 100
Profit and loss account (53,658) (55,797)
Shareholders' funds (53,558) (55,697)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Ellis
Director
Approved by the board on 27 March 2025
FIRSTMARKET LIMITED
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Camper vans over 3 years
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.
Going concern
The accounts have been prepared on a going concern basis, the validity of which is dependent upon the continued support of the directors. The directors have given assurances that this support will continue for the foreseeable future and they are hopeful that profitability will improve next year.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Camper vans
£
Cost
At 1 September 2023 45,937
At 31 August 2024 45,937
Depreciation
At 1 September 2023 45,937
At 31 August 2024 45,937
Net book value
At 31 August 2024 -
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,040 5,509
Other creditors 31,379 30,297
36,419 35,806
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 17,141 19,893
6 Other information
FIRSTMARKET LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Station Chambers
36 Bolton Street
Bury
Lancs
BL9 0LL
FIRSTMARKET LIMITED 03340410 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts April 2025 D Ellis No description of principal activity 03340410 2022-09-01 2023-08-31 03340410 core:WithinOneYear 2023-08-31 03340410 core:AfterOneYear 2023-08-31 03340410 core:ShareCapital 2023-08-31 03340410 core:RetainedEarningsAccumulatedLosses 2023-08-31 03340410 2023-09-01 2024-08-31 03340410 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03340410 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 03340410 bus:Director40 2023-09-01 2024-08-31 03340410 countries:England 2023-09-01 2024-08-31 03340410 bus:FRS102 2023-09-01 2024-08-31 03340410 bus:FilletedAccounts 2023-09-01 2024-08-31 03340410 2024-08-31 03340410 core:WithinOneYear 2024-08-31 03340410 core:AfterOneYear 2024-08-31 03340410 core:ShareCapital 2024-08-31 03340410 core:RetainedEarningsAccumulatedLosses 2024-08-31 03340410 core:Vehicles 2024-08-31 03340410 2023-08-31 03340410 core:Vehicles 2023-08-31 iso4217:GBP xbrli:pure