Registered number
11156873
Firstclad Ltd
Filleted Accounts
31 January 2025
Firstclad Ltd
Registered number: 11156873
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 59,442 32,137
Current assets
4 19,911 109,726
Cash at bank and in hand 175,585 165,868
195,496 275,594
Creditors: amounts falling due within one year 5 (33,697) (83,051)
Net current assets 161,799 192,543
Total assets less current liabilities 221,241 224,680
Creditors: amounts falling due after more than one year 6 (24,425) (27,894)
Net assets 196,816 196,786
Capital and reserves
Called up share capital 100 100
Profit and loss account 196,716 196,686
Shareholder's funds 196,816 196,786
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jamie Keane
Director
Approved by the board on 23 July 2025
Firstclad Ltd
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 20% straight line
Furniture and fixtures 25% reducing balance
Motor Vehicles 25% straight line
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2024 557 47,872 48,429
Additions 43,712 - 43,712
At 31 January 2025 44,269 47,872 92,141
Depreciation
At 1 February 2024 280 16,012 16,292
Charge for the year 5,939 10,468 16,407
At 31 January 2025 6,219 26,480 32,699
Net book value
At 31 January 2025 38,050 21,392 59,442
At 31 January 2024 277 31,860 32,137
4 Debtors 2025 2024
£ £
Trade debtors - 24,929
Other debtors 19,911 84,797
19,911 109,726
5 Creditors: amounts falling due within one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 6,948 6,948
Trade creditors and accruals 3,721 3,221
Taxation and social security costs 6,421 65,550
Other creditors 16,607 7,332
33,697 83,051
6 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 24,425 27,894
7 Other information
Firstclad Ltd is a private company limited by shares and incorporated in England. Its registered office is:
C/O P1 Accounting Services Ltd
C11 Tweedale Industrial Estate
Madeley
Telford
TF7 4JR
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