IRIS Accounts Production v24.3.2.46 05319191 director 1.1.24 31.12.24 31.12.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053191912023-12-31053191912024-12-31053191912024-01-012024-12-31053191912022-12-31053191912023-01-012023-12-31053191912023-12-3105319191ns15:EnglandWales2024-01-012024-12-3105319191ns14:PoundSterling2024-01-012024-12-3105319191ns10:Director12024-01-012024-12-3105319191ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3105319191ns10:SmallEntities2024-01-012024-12-3105319191ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3105319191ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3105319191ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3105319191ns10:FullAccounts2024-01-012024-12-310531919112024-01-012024-12-3105319191ns10:CompanySecretary12024-01-012024-12-3105319191ns10:RegisteredOffice2024-01-012024-12-3105319191ns5:CurrentFinancialInstruments2024-12-3105319191ns5:CurrentFinancialInstruments2023-12-3105319191ns5:ShareCapital2024-12-3105319191ns5:ShareCapital2023-12-3105319191ns5:RetainedEarningsAccumulatedLosses2024-12-3105319191ns5:RetainedEarningsAccumulatedLosses2023-12-3105319191ns5:NetGoodwill2024-01-012024-12-3105319191ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3105319191ns5:PlantMachinery2024-01-012024-12-3105319191ns5:NetGoodwill2023-12-3105319191ns5:NetGoodwill2024-12-3105319191ns5:NetGoodwill2023-12-3105319191ns5:PlantMachinery2023-12-3105319191ns5:PlantMachinery2024-12-3105319191ns5:PlantMachinery2023-12-3105319191ns5:UnlistedNon-exchangeTradedns5:CostValuation2023-12-3105319191ns5:AdditionsToInvestmentsns5:UnlistedNon-exchangeTraded2024-12-3105319191ns5:UnlistedNon-exchangeTradedns5:CostValuation2024-12-3105319191ns5:UnlistedNon-exchangeTraded2024-12-3105319191ns5:UnlistedNon-exchangeTraded2023-12-3105319191ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3105319191ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31
REGISTERED NUMBER: 05319191 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FIRST CHOICE DOMESTIC APPLIANCES LIMITED

FIRST CHOICE DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 05319191)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIRST CHOICE DOMESTIC APPLIANCES LIMITED

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2024







DIRECTOR: Miss T Chapman





SECRETARY: Mr C Gowland





REGISTERED OFFICE: 327 Clifton Drive South
Lytham St. Annes
Lancashire
FY8 1HN





REGISTERED NUMBER: 05319191 (England and Wales)





ACCOUNTANTS: Whitehead & Howarth
327 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN

FIRST CHOICE DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 05319191)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,502 4,669
Investments 6 11,347 10,939
14,849 15,608

CURRENT ASSETS
Stocks 44,609 47,612
Debtors 7 1,485 1,284
Cash at bank 160,085 107,444
206,179 156,340
CREDITORS
Amounts falling due within one year 8 59,199 34,149
NET CURRENT ASSETS 146,980 122,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

161,829

137,799

PROVISIONS FOR LIABILITIES 665 887
NET ASSETS 161,164 136,912

FIRST CHOICE DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 05319191)

BALANCE SHEET - continued
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 161,163 136,911
SHAREHOLDERS' FUNDS 161,164 136,912

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

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

The director acknowledges her 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 11 April 2025 and were signed by:





Miss T Chapman - Director


FIRST CHOICE DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 05319191)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2024

1. STATUTORY INFORMATION

First Choice Domestic Appliances 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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises the value sales attributable to the year under review and is stated net of Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% 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 year 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.


FIRST CHOICE DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 05319191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
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.

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 year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 24,000
AMORTISATION
At 1 January 2024
and 31 December 2024 24,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

FIRST CHOICE DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 05319191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2024

5. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 January 2024
and 31 December 2024 26,810
DEPRECIATION
At 1 January 2024 22,141
Charge for year 1,167
At 31 December 2024 23,308
NET BOOK VALUE
At 31 December 2024 3,502
At 31 December 2023 4,669

6. FIXED ASSET INVESTMENTS
Trade
Investment
£   
COST OR VALUATION
At 1 January 2024 10,939
Additions 408
At 31 December 2024 11,347
NET BOOK VALUE
At 31 December 2024 11,347
At 31 December 2023 10,939

FIRST CHOICE DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 05319191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2024

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2024 is represented by:

Trade
Investment
£   
Valuation in 2018 1,697
Valuation in 2019 339
Valuation in 2020 153
Valuation in 2021 259
Valuation in 2022 738
Valuation in 2023 831
Valuation in 2024 408
Cost 6,922
11,347

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.12.24 31.12.23
£    £   
Trade debtors 677 476
Tax 808 808
1,485 1,284

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.12.24 31.12.23
£    £   
Trade creditors 18,703 15,919
Tax 13,570 3,887
VAT 11,298 7,395
Director's loan account 12,677 4,010
Accrued expenses 2,951 2,938
59,199 34,149

FIRST CHOICE DOMESTIC APPLIANCES LIMITED (REGISTERED NUMBER: 05319191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2024

9. RELATED PARTY DISCLOSURES

Control

The company is controlled by Miss T. Chapman, a director.

Transactions

During the year under review the company paid dividends of £27,000 (2023: £16,000) to Miss T. Chapman, a director.

The company occupies premises owned by Miss T. Chapman, a director, as its principal business premises. The company paid rent of £10,000 on these premises in the year under review (2023: £10,000).