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Company Registration No. 08361599 (England and Wales)
First Rate Training Limited Unaudited accounts for the year ended 31 December 2024
First Rate Training Limited Unaudited accounts Contents
Page
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First Rate Training Limited Company Information for the year ended 31 December 2024
Directors
Kirstie Louise Jones Justin Harding Jones
Secretary
ESquare Ltd
Company Number
08361599 (England and Wales)
Registered Office
VILLA HOUSE 7 HERBERT TERRACE PENARTH SOUTH GLAMORGAN CF64 2AH
Accountants
Evans Entwistle Villa House 7 Herbert Terrace Penarth Vale of Glamorgan CF64 2AH
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of First Rate Training Limited for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of First Rate Training Limited for the year ended 31 December 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Villa House 7 Herbert Terrace Penarth Vale of Glamorgan CF64 2AH 8 April 2025
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First Rate Training Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
10,264 
21,177 
Current assets
Debtors
10,091 
6,371 
Cash at bank and in hand
12,319 
13,205 
22,410 
19,576 
Creditors: amounts falling due within one year
(15,235)
(6,936)
Net current assets
7,175 
12,640 
Total assets less current liabilities
17,439 
33,817 
Creditors: amounts falling due after more than one year
(190)
(9,516)
Provisions for liabilities
Deferred tax
(1,950)
- 
Net assets
15,299 
24,301 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
15,297 
24,299 
Shareholders' funds
15,299 
24,301 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by
Justin Harding Jones Director Company Registration No. 08361599
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First Rate Training Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
First Rate Training Limited is a private company, limited by shares, registered in England and Wales, registration number 08361599. The registered office is VILLA HOUSE, 7 HERBERT TERRACE, PENARTH, SOUTH GLAMORGAN, CF64 2AH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
4 years straight line
Computer equipment
3 years straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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First Rate Training Limited Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
7,038 
40,833 
1,648 
49,519 
At 31 December 2024
7,038 
40,833 
1,648 
49,519 
Depreciation
At 1 January 2024
1,173 
25,520 
1,649 
28,342 
Charge for the year
704 
10,209 
- 
10,913 
At 31 December 2024
1,877 
35,729 
1,649 
39,255 
Net book value
At 31 December 2024
5,161 
5,104 
(1)
10,264 
At 31 December 2023
5,865 
15,313 
(1)
21,177 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
7,591 
2,928 
Accrued income and prepayments
2,390 
3,333 
Other debtors
110 
110 
10,091 
6,371 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
5,480 
158 
Trade creditors
800 
3,881 
Taxes and social security
3,145 
2,781 
Other creditors
140 
116 
Accruals
5,670 
- 
15,235 
6,936 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Loans from directors
190 
9,516 
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First Rate Training Limited Notes to the Accounts for the year ended 31 December 2024
8
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
1,950 
- 
2024 
2023 
£ 
£ 
Charged to the profit and loss account
1,950 
- 
Provision at end of year
1,950 
- 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
10
Transactions with related parties
The company was owed £110 (2023: £110) by JK Jones Developments Limited (13360221), a company under common control.
11
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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