Company registration number 11893570 (England and Wales)
FIRST ENTERTAINMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 20 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
FIRST ENTERTAINMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
Notes to the financial statements
3 - 5
FIRST ENTERTAINMENT LIMITED
BALANCE SHEET
AS AT
20 SEPTEMBER 2024
20 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
124,917
159,314
Investment property
29,500
29,500
154,417
188,814
Current assets
Stocks
47,000
35,888
Debtors
4
1,283,118
1,287,042
Investments
6,000
6,000
Cash at bank and in hand
280,390
241,803
1,616,508
1,570,733
Creditors: amounts falling due within one year
5
(1,143,023)
(1,198,254)
Net current assets
473,485
372,479
Total assets less current liabilities
627,902
561,293
Creditors: amounts falling due after more than one year
6
(8,664)
(18,956)
Net assets
619,238
542,337
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
619,138
542,237
Total equity
619,238
542,337
FIRST ENTERTAINMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
20 SEPTEMBER 2024
20 September 2024
- 2 -
For the financial year ended 20 September 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 of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 10 June 2025
Ms Ruth Newcombe
Director
Company registration number 11893570 (England and Wales)
FIRST ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 20 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
First Entertainment Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Xeinadin First Floor Secure House, Lulworth Close, Chandler's Ford, Southampton, Hampshire, England, SO53 3TL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
33% Reducing Balance
Fixtures and fittings
20% Straight Line
Computers
25% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
FIRST ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 20 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
156
106
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 21 September 2023
55,561
134,189
29,760
219,510
Additions
3,924
3,924
At 20 September 2024
55,561
138,113
29,760
223,434
Depreciation and impairment
At 21 September 2023
38,128
19,071
2,997
60,196
Depreciation charged in the year
5,439
25,849
7,033
38,321
At 20 September 2024
43,567
44,920
10,030
98,517
Carrying amount
At 20 September 2024
11,994
93,193
19,730
124,917
At 20 September 2023
17,433
115,118
26,763
159,314
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
57,024
129,593
Other debtors
1,223,280
1,154,109
1,280,304
1,283,702
FIRST ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 20 SEPTEMBER 2024
4
Debtors
(Continued)
- 5 -
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
2,814
3,340
Total debtors
1,283,118
1,287,042
5
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
10,292
10,038
Other borrowings
1,103
4,600
Trade creditors
393,051
558,684
Corporation tax
62,289
60,670
Other taxation and social security
333,876
341,522
Other creditors
337,837
216,690
Accruals and deferred income
4,575
6,050
1,143,023
1,198,254
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
8,664
18,956
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors Loan Account
-
52,480
180,412
(260,375)
(27,483)
52,480
180,412
(260,375)
(27,483)