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REGISTERED NUMBER: 11639872
















Unaudited Financial Statements for the Year Ended 31 October 2024

for

First Group Midlands Ltd

First Group Midlands Ltd (Registered number: 11639872)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


First Group Midlands Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: Mr M A Price





REGISTERED OFFICE: Hilters Fruit Farm
Oxenhall
Newent
Gloucestershire
GL18 1RN





REGISTERED NUMBER: 11639872





ACCOUNTANTS: Boyds Accountants
Britannia Court
5 Moor Street
Worcester
Worcestershire
WR1 3DB

First Group Midlands Ltd (Registered number: 11639872)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 91,816 112,951

CURRENT ASSETS
Debtors 5 23,788 26,794
Cash at bank 70,598 43,563
94,386 70,357
CREDITORS
Amounts falling due within one year 6 65,438 61,073
NET CURRENT ASSETS 28,948 9,284
TOTAL ASSETS LESS CURRENT
LIABILITIES

120,764

122,235

CREDITORS
Amounts falling due after more than one
year

7

(56,468

)

(22,916

)

PROVISIONS FOR LIABILITIES (11,314 ) (14,938 )
NET ASSETS 52,982 84,381

CAPITAL AND RESERVES
Called up share capital 20 10
Retained earnings 52,962 84,371
SHAREHOLDERS' FUNDS 52,982 84,381

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

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

The director acknowledges his 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 Group Midlands Ltd (Registered number: 11639872)

Balance Sheet - continued
31 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 director and authorised for issue on 11 June 2025 and were signed by:





Mr M A Price - Director


First Group Midlands Ltd (Registered number: 11639872)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

First Group Midlands Ltd is a private company, limited by shares , registered in Not specified/Other. 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 9 (2023 - 9 ) .

First Group Midlands Ltd (Registered number: 11639872)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2023 94,649 73,464 6,625 174,738
Additions - - 1,568 1,568
At 31 October 2024 94,649 73,464 8,193 176,306
DEPRECIATION
At 1 November 2023 27,768 32,250 1,769 61,787
Charge for year 13,376 8,243 1,084 22,703
At 31 October 2024 41,144 40,493 2,853 84,490
NET BOOK VALUE
At 31 October 2024 53,505 32,971 5,340 91,816
At 31 October 2023 66,881 41,214 4,856 112,951

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 21,603 24,594
Other debtors 2,185 2,200
23,788 26,794

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 15,408 8,333
Hire purchase contracts - 1,250
Trade creditors 10,039 15,798
Tax 9,158 8,763
Social security and other taxes 3,255 2,708
VAT 12,958 11,350
Other creditors 376 359
Credit card 4,924 3,921
Directors' current accounts 20 291
Accrued expenses 9,300 8,300
65,438 61,073

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans - 1-2 years 16,258 8,333
Bank loans - 2-5 years 25,070 14,583
Bank loans more 5 yr by instal 15,140 -
56,468 22,916

First Group Midlands Ltd (Registered number: 11639872)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.10.24 31.10.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,140 -