IRIS Accounts Production v24.3.0.553 04300762 Board of Directors Board of Directors 1.11.23 31.10.24 31.10.24 false true false false true false Ordinary 1.00000 Ordinary A 1.00000 Ordinary C 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043007622023-10-31043007622024-10-31043007622023-11-012024-10-31043007622022-10-31043007622022-11-012023-10-31043007622023-10-3104300762ns15:EnglandWales2023-11-012024-10-3104300762ns14:PoundSterling2023-11-012024-10-3104300762ns10:Director12023-11-012024-10-3104300762ns10:Director22023-11-012024-10-3104300762ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3104300762ns10:SmallEntities2023-11-012024-10-3104300762ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3104300762ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3104300762ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3104300762ns10:FullAccounts2023-11-012024-10-3104300762ns10:OrdinaryShareClass12023-11-012024-10-3104300762ns10:OrdinaryShareClass22023-11-012024-10-3104300762ns10:OrdinaryShareClass32023-11-012024-10-3104300762ns10:OrdinaryShareClass42023-11-012024-10-3104300762ns10:CompanySecretary12023-11-012024-10-3104300762ns10:RegisteredOffice2023-11-012024-10-3104300762ns5:CurrentFinancialInstruments2024-10-3104300762ns5:CurrentFinancialInstruments2023-10-3104300762ns5:Non-currentFinancialInstruments2024-10-3104300762ns5:Non-currentFinancialInstruments2023-10-3104300762ns5:ShareCapital2024-10-3104300762ns5:ShareCapital2023-10-3104300762ns5:CapitalRedemptionReserve2024-10-3104300762ns5:CapitalRedemptionReserve2023-10-3104300762ns5:RetainedEarningsAccumulatedLosses2024-10-3104300762ns5:RetainedEarningsAccumulatedLosses2023-10-3104300762ns5:PlantMachinery2023-11-012024-10-3104300762ns5:FurnitureFittings2023-11-012024-10-3104300762ns5:MotorVehicles2023-11-012024-10-3104300762ns5:ComputerEquipment2023-11-012024-10-3104300762ns5:PlantMachinery2023-10-3104300762ns5:FurnitureFittings2023-10-3104300762ns5:MotorVehicles2023-10-3104300762ns5:ComputerEquipment2023-10-3104300762ns5:PlantMachinery2024-10-3104300762ns5:FurnitureFittings2024-10-3104300762ns5:MotorVehicles2024-10-3104300762ns5:ComputerEquipment2024-10-3104300762ns5:PlantMachinery2023-10-3104300762ns5:FurnitureFittings2023-10-3104300762ns5:MotorVehicles2023-10-3104300762ns5:ComputerEquipment2023-10-3104300762ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-10-3104300762ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-3104300762ns5:LeasedAssetsHeldAsLessee2023-10-3104300762ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-10-3104300762ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-10-3104300762ns5:LeasedAssetsHeldAsLessee2024-10-3104300762ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-10-3104300762ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-3104300762ns5:LeasedAssetsHeldAsLessee2023-10-3104300762ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3104300762ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3104300762ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-10-3104300762ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-10-3104300762ns10:OrdinaryShareClass12024-10-3104300762ns10:OrdinaryShareClass22024-10-3104300762ns10:OrdinaryShareClass32024-10-3104300762ns10:OrdinaryShareClass42024-10-3104300762ns5:RetainedEarningsAccumulatedLosses2023-10-3104300762ns5:CapitalRedemptionReserve2023-10-3104300762ns5:RetainedEarningsAccumulatedLosses2023-11-012024-10-31043007621ns10:Director12023-10-31043007621ns10:Director12022-10-31043007621ns10:Director12023-11-012024-10-31043007621ns10:Director12022-11-012023-10-31043007621ns10:Director12024-10-31043007621ns10:Director12023-10-3104300762ns10:Director222023-10-3104300762ns10:Director222022-10-3104300762ns10:Director222023-11-012024-10-3104300762ns10:Director222022-11-012023-10-3104300762ns10:Director222024-10-3104300762ns10:Director222023-10-31
REGISTERED NUMBER: 04300762 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2024

FOR

FIRST EXHIBITION SERVICES LIMITED

FIRST EXHIBITION SERVICES LIMITED (REGISTERED NUMBER: 04300762)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIRST EXHIBITION SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2024







DIRECTORS: R F Turnbull
M B Turnbull





SECRETARY: Ms N J Turnbull





REGISTERED OFFICE: Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR





REGISTERED NUMBER: 04300762 (England and Wales)





ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR

FIRST EXHIBITION SERVICES LIMITED (REGISTERED NUMBER: 04300762)

BALANCE SHEET
31ST OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 180,526 93,923

CURRENT ASSETS
Debtors 5 352,016 541,461
Cash at bank 457,081 243,464
809,097 784,925
CREDITORS
Amounts falling due within one year 6 448,295 309,651
NET CURRENT ASSETS 360,802 475,274
TOTAL ASSETS LESS CURRENT
LIABILITIES

541,328

569,197

CREDITORS
Amounts falling due after more than one
year

7

(32,800

)

(82,000

)

PROVISIONS FOR LIABILITIES (15,032 ) (22,747 )
NET ASSETS 493,496 464,450

CAPITAL AND RESERVES
Called up share capital 9 29,751 29,751
Capital redemption reserve 10 5,250 5,250
Retained earnings 10 458,495 429,449
SHAREHOLDERS' FUNDS 493,496 464,450

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

FIRST EXHIBITION SERVICES LIMITED (REGISTERED NUMBER: 04300762)

BALANCE SHEET - continued
31ST OCTOBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6th March 2025 and were signed on its behalf by:




R F Turnbull - Director



M B Turnbull - Director


FIRST EXHIBITION SERVICES LIMITED (REGISTERED NUMBER: 04300762)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024


1. STATUTORY INFORMATION

First Exhibition Services 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. 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
Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

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 - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

FIRST EXHIBITION SERVICES LIMITED (REGISTERED NUMBER: 04300762)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


2. ACCOUNTING POLICIES - continued

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st November 2023 111,019 41,022 86,085 49,101 287,227
Additions 24,984 106,284 1,967 6,134 139,369
Disposals (23,250 ) - - (358 ) (23,608 )
At 31st October 2024 112,753 147,306 88,052 54,877 402,988
DEPRECIATION
At 1st November 2023 65,917 39,753 48,895 38,739 193,304
Charge for year 13,162 24,692 7,833 5,390 51,077
Eliminated on disposal (5,813 ) (15,909 ) - (197 ) (21,919 )
At 31st October 2024 73,266 48,536 56,728 43,932 222,462
NET BOOK VALUE
At 31st October 2024 39,487 98,770 31,324 10,945 180,526
At 31st October 2023 45,102 1,269 37,190 10,362 93,923

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st November 2023
and 31st October 2024 95,496 80,042 175,538
DEPRECIATION
At 1st November 2023
and 31st October 2024 46,844 10,882 57,726
NET BOOK VALUE
At 31st October 2024 48,652 69,160 117,812
At 31st October 2023 48,652 69,160 117,812

FIRST EXHIBITION SERVICES LIMITED (REGISTERED NUMBER: 04300762)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 307,910 383,014
Amounts owed by group undertakings - 121,342
Other debtors 44,106 37,105
352,016 541,461

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 49,200 49,200
Hire purchase contracts (see note 8) - 770
Trade creditors 172,885 122,562
Amounts owed to group undertakings 103,818 -
Taxation and social security 63,916 83,758
Other creditors 58,476 53,361
448,295 309,651

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 32,800 82,000

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year - 770

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
15,749 Ordinary 1 15,749 15,749
1 Ordinary A 1 1 1
7,438 Ordinary C 1 6,563 6,563
6,563 Ordinary B 1 7,438 7,438
29,751 29,751

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st November 2023 429,449 5,250 434,699
Profit for the year 229,046 - 229,046
Dividends (200,000 ) - (200,000 )
At 31st October 2024 458,495 5,250 463,745

FIRST EXHIBITION SERVICES LIMITED (REGISTERED NUMBER: 04300762)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st October 2024 and 31st October 2023:

2024 2023
£    £   
R F Turnbull
Balance outstanding at start of year (312 ) 18,280
Amounts repaid (312 ) (18,592 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (624 ) (312 )

M B Turnbull
Balance outstanding at start of year (312 ) 18,062
Amounts advanced 679 -
Amounts repaid (312 ) (18,374 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 55 (312 )