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REGISTERED NUMBER: 09442822 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

F1rst Financial Services Ltd

F1rst Financial Services Ltd (Registered number: 09442822)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F1rst Financial Services Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: A Davies
J Kefford





SECRETARY: Mrs V A Davies





REGISTERED OFFICE: 21 Church Road
Parkstone
Poole
Dorset
BH14 8UF





BUSINESS ADDRESS: 4 Erpingham Road
Poole
Dorset
BH12 1EX





REGISTERED NUMBER: 09442822 (England and Wales)





ACCOUNTANT: Richard Allen & Associates
21 Church Road
Parkstone
Poole
Dorset
BH14 8UF

F1rst Financial Services Ltd (Registered number: 09442822)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,287 11,029

CURRENT ASSETS
Debtors 5 74,661 89,136
Cash at bank 34,683 23,225
109,344 112,361
CREDITORS
Amounts falling due within one year 6 96,069 100,931
NET CURRENT ASSETS 13,275 11,430
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,562

22,459

CREDITORS
Amounts falling due after more than one
year

7

-

(966

)

PROVISIONS FOR LIABILITIES (5,449 ) (2,271 )
NET ASSETS 31,113 19,222

CAPITAL AND RESERVES
Called up share capital 4,000 4,000
Retained earnings 27,113 15,222
SHAREHOLDERS' FUNDS 31,113 19,222

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

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

The directors acknowledge their 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.

F1rst Financial Services Ltd (Registered number: 09442822)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2025 and were signed on its behalf by:





A Davies - Director


F1rst Financial Services Ltd (Registered number: 09442822)

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

1. STATUTORY INFORMATION

F1rst Financial Services Ltd is a private company, limited by shares , registered in England and Wales. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

F1rst Financial Services Ltd (Registered number: 09442822)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 26,562
Additions 23,995
Disposals (2,532 )
At 31 December 2024 48,025
DEPRECIATION
At 1 January 2024 15,533
Charge for year 11,087
Eliminated on disposal (1,882 )
At 31 December 2024 24,738
NET BOOK VALUE
At 31 December 2024 23,287
At 31 December 2023 11,029

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 2,899
DEPRECIATION
At 1 January 2024 957
Charge for year 956
At 31 December 2024 1,913
NET BOOK VALUE
At 31 December 2024 986
At 31 December 2023 1,942

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 74,661 89,136

F1rst Financial Services Ltd (Registered number: 09442822)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 966 1,450
Taxation and social security 31,671 17,167
Other creditors 63,432 82,314
96,069 100,931

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 966

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
A Davies
Balance outstanding at start of year 87,464 81,624
Amounts advanced 93,115 100,261
Amounts repaid (107,811 ) (94,421 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 72,768 87,464