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Registration number: 02929397

1st Direct Mail Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 December 2024

 

1st Direct Mail Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

1st Direct Mail Limited

(Registration number: 02929397)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,441

2,130

Current assets

 

Stocks

5

2,300

1,100

Debtors

6

75,744

99,564

Cash at bank and in hand

 

46,018

121,943

 

124,062

222,607

Creditors: Amounts falling due within one year

7

(57,065)

(138,751)

Net current assets

 

66,997

83,856

Total assets less current liabilities

 

69,438

85,986

Creditors: Amounts falling due after more than one year

7

(5,291)

(15,664)

Provisions for liabilities

(464)

(405)

Net assets

 

63,683

69,917

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

63,681

69,915

Shareholders' funds

 

63,683

69,917

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 26 August 2025
 

 

1st Direct Mail Limited

(Registration number: 02929397)
Statement of Financial Position as at 31 December 2024

.........................................
A J Lawrence
Director

 

1st Direct Mail Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: 96-98 Hamesmoor Road, Mytchett, Camberley, Surrey, GU16 6JF.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services and rents receivable in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

1st Direct Mail Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

 

1st Direct Mail Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

9,829

72,248

82,077

Additions

786

341

1,127

At 31 December 2024

10,615

72,589

83,204

Depreciation

At 1 January 2024

8,466

71,481

79,947

Charge for the year

537

279

816

At 31 December 2024

9,003

71,760

80,763

Carrying amount

At 31 December 2024

1,612

829

2,441

At 31 December 2023

1,363

767

2,130

 

1st Direct Mail Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Stocks

2024
£

2023
£

Raw materials and consumables

2,300

1,100

6

Debtors

2024
£

2023
£

Trade debtors

37,260

87,990

Other debtors

1,384

286

Prepayments

3,756

11,288

Accrued income

33,344

-

75,744

99,564

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

8

10,369

10,118

Trade creditors

 

10,616

14,892

Taxation and social security

 

138

5,329

Accruals and deferred income

 

5,822

14,819

Other creditors

 

30,120

93,593

 

57,065

138,751

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

8

5,291

15,664

 

1st Direct Mail Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,291

15,664

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,369

10,118