Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-05-01falseNo description of principal activity2830truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06552344 2024-05-01 2024-12-31 06552344 2023-05-01 2024-04-30 06552344 2024-12-31 06552344 2024-04-30 06552344 2023-05-01 06552344 c:Director1 2024-05-01 2024-12-31 06552344 d:FurnitureFittings 2024-05-01 2024-12-31 06552344 d:OfficeEquipment 2024-05-01 2024-12-31 06552344 d:OfficeEquipment 2024-12-31 06552344 d:OfficeEquipment 2024-04-30 06552344 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-05-01 2024-12-31 06552344 d:OtherPropertyPlantEquipment 2024-05-01 2024-12-31 06552344 d:Goodwill 2024-05-01 2024-12-31 06552344 d:Goodwill 2024-12-31 06552344 d:Goodwill 2024-04-30 06552344 d:CurrentFinancialInstruments 2024-12-31 06552344 d:CurrentFinancialInstruments 2024-04-30 06552344 d:Non-currentFinancialInstruments 2024-12-31 06552344 d:Non-currentFinancialInstruments 2024-04-30 06552344 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 06552344 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 06552344 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 06552344 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 06552344 d:ShareCapital 2024-12-31 06552344 d:ShareCapital 2024-04-30 06552344 d:CapitalRedemptionReserve 2024-12-31 06552344 d:CapitalRedemptionReserve 2024-04-30 06552344 d:RetainedEarningsAccumulatedLosses 2024-12-31 06552344 d:RetainedEarningsAccumulatedLosses 2024-04-30 06552344 c:FRS102 2024-05-01 2024-12-31 06552344 c:AuditExempt-NoAccountantsReport 2024-05-01 2024-12-31 06552344 c:FullAccounts 2024-05-01 2024-12-31 06552344 c:PrivateLimitedCompanyLtd 2024-05-01 2024-12-31 06552344 d:WithinOneYear 2024-12-31 06552344 d:WithinOneYear 2024-04-30 06552344 d:BetweenOneFiveYears 2024-12-31 06552344 d:BetweenOneFiveYears 2024-04-30 06552344 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 06552344 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 06552344 d:RetirementBenefitObligationsDeferredTax 2024-12-31 06552344 d:RetirementBenefitObligationsDeferredTax 2024-04-30 06552344 d:Goodwill d:OwnedIntangibleAssets 2024-05-01 2024-12-31 06552344 e:PoundSterling 2024-05-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 06552344










MORTGAGE 1ST LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

 
MORTGAGE 1ST LIMITED
REGISTERED NUMBER:06552344

BALANCE SHEET
AS AT 31 DECEMBER 2024

31 December
30 April
2024
2024
Note
£
£

Fixed assets
  

Intangible assets
 4 
25,000
27,000

Tangible assets
 5 
27,337
30,589

  
52,337
57,589

Current assets
  

Debtors: amounts falling due within one year
 6 
283,340
213,423

Cash at bank and in hand
  
72,634
38,267

  
355,974
251,690

Creditors: amounts falling due within one year
 7 
(185,891)
(146,189)

Net current assets
  
 
 
170,083
 
 
105,501

Total assets less current liabilities
  
222,420
163,090

Creditors: amounts falling due after more than one year
 8 
(217,580)
(249,313)

Provisions for liabilities
  

Deferred tax
 9 
(3,750)
(4,894)

Net assets/(liabilities)
  
1,090
(91,117)


Capital and reserves
  

Called up share capital 
  
8
8

Capital redemption reserve
  
3
3

Profit and loss account
  
1,079
(91,128)

  
1,090
(91,117)


Page 1

 
MORTGAGE 1ST LIMITED
REGISTERED NUMBER:06552344
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 July 2025.




J D Stones
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MORTGAGE 1ST LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

Mortgage 1st Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 06552344). Its registered office is 2 Napier Court, Gander Lane, Barlborough, Chesterfield, Derbyshire, S43 4PZ. The principal activity of the Company throughout the year continued to be that of mortgage agents. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MORTGAGE 1ST LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Furniture and fittings
-
15%
reducing balance
Office equipment
-
15%
reducing balance
Research and development
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings

 
2.4

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
MORTGAGE 1ST LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.


 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
MORTGAGE 1ST LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The average monthly number of employees, including directors, during the period was 28 (2024 - 30).


4.


Intangible assets






Goodwill

£



Cost


At 1 May 2024
30,000



At 31 December 2024

30,000



Amortisation


At 1 May 2024
3,000


Charge for the period on owned assets
2,000



At 31 December 2024

5,000



Net book value



At 31 December 2024
25,000



At 30 April 2024
27,000



Page 6

 
MORTGAGE 1ST LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

5.


Tangible fixed assets







Office equipment, fixture & fittings and research & development

£



Cost or valuation


At 1 May 2024
71,117


Disposals
(600)



At 31 December 2024

70,517



Depreciation


At 1 May 2024
40,528


Charge for the period on owned assets
3,037


Disposals
(385)



At 31 December 2024

43,180



Net book value



At 31 December 2024
27,337



At 30 April 2024
30,589

Page 7

 
MORTGAGE 1ST LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

6.


Debtors

31 December
30 April
2024
2024
£
£


Other debtors
233,512
163,595

Tax recoverable
49,828
49,828

283,340
213,423



7.


Creditors: Amounts falling due within one year

31 December
30 April
2024
2024
£
£

Other loans
61,041
52,308

Trade creditors
14,885
19,789

Corporation tax
53,955
19,882

Other taxation and social security
16,576
5,296

Other creditors
39,434
48,914

185,891
146,189



8.


Creditors: Amounts falling due after more than one year

31 December
30 April
2024
2024
£
£

Other loans
217,580
249,313


Page 8

 
MORTGAGE 1ST LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

9.


Deferred taxation






2024
2024


£

£






At beginning of year
4,894
6,727


Charged to profit or loss
(1,144)
(1,833)



At end of year
3,750
4,894

The provision for deferred taxation is made up as follows:

31 December
30 April
2024
2024
£
£


Accelerated capital allowances
4,082
5,228

Pension surplus
(332)
(334)

3,750
4,894


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,595 (30 April 2024: £15,984). Contributions totalling £1,330 (30 April 2024: £1,335) were payable to the fund at the Balance Sheet date and are included in creditors.


11.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

31 December
30 April
2024
2024
£
£


Not later than 1 year
63,617
31,287

Later than 1 year and not later than 5 years
68,700
2,013

132,317
33,300

 
Page 9