REGISTERED NUMBER: 05705759 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

FIRST GROUP ENTERPRISES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs N A Cox

S M Thomson

Mrs S J Thomson

SECRETARY:

Mrs N A Cox

REGISTERED OFFICE:

10 London Mews

LONDON

W2 1HY

REGISTERED NUMBER:

05705759 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

Paddington

LONDON

W2 1HY

FIXED ASSETS

Intangible assets

4

1,820

7,757

Tangible assets

5

13,588

12,656

15,408

20,413

CURRENT ASSETS

Debtors

6

2,799,551

2,929,616

Cash at bank and in hand

177,141

135,090

2,976,692

3,064,706

CREDITORS

Amounts falling due within one year

7

1,524,070

1,688,848

NET CURRENT ASSETS

1,452,622

1,375,858

TOTAL ASSETS LESS CURRENT LIABILITIES

1,468,030

1,396,271

CAPITAL AND RESERVES

Called up share capital

2,331

2,331

Retained earnings

1,465,699

1,393,940

SHAREHOLDERS' FUNDS

1,468,030

1,396,271

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

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 22 August 2025 and were signed on its behalf by:

S M Thomson - Director

Mrs S J Thomson - Director

1.	STATUTORY INFORMATION

First Group Enterprises Limited 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.

The company's previous name to 27 February 2018 was First News (UK) Limited.

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 as the fair value of 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:

Subscription income from newspaper issues

Revenue from subscription sales is recognised on a delivered basis. Revenue is matched to the issues delivered within the period with advance subscriptions deferred to the balance sheet as applicable.

Non-subscription income from newspaper issues

Revenue from non-subscription sales are recognised on an actual sales basis in accordance with the issue date.

Advertising income

Revenue from advertising income physically published is recognised in accordance with the issue date of the newspaper in which the advertising material is published. Revenue from advertisements on the company's website are recognised in accordance with the period of display.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Devel costs - website are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

over period of lease

Plant and machinery etc

-

25% straight line and 20% straight line

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs 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.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments/receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised costs using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

Taxation

Taxation for the year comprises of current 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 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Pension costs

Pension contributions made to the directors personal pensions held outside the company are charged to the profit and loss account on an accruals basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2024 - 31 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2024

and 28 February 2025

17,813

AMORTISATION

At 1 March 2024

10,056

Charge for year

5,937

At 28 February 2025

15,993

NET BOOK VALUE

At 28 February 2025

1,820

At 29 February 2024

7,757

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 March 2024

1,910

260,449

14,921

25,000

302,280

Additions

-

6,970

-

-

6,970

At 28 February 2025

1,910

267,419

14,921

25,000

309,250

DEPRECIATION

At 1 March 2024

1,910

247,793

14,921

25,000

289,624

Charge for year

-

6,038

-

-

6,038

At 28 February 2025

1,910

253,831

14,921

25,000

295,662

NET BOOK VALUE

At 28 February 2025

-

13,588

-

-

13,588

At 29 February 2024

-

12,656

-

-

12,656

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

284,243

396,836

Other debtors

2,515,308

2,532,780

2,799,551

2,929,616

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade creditors

186,134

161,366

Taxation and social security

61,120

58,174

Other creditors

1,276,816

1,469,308

1,524,070

1,688,848

8.	OTHER FINANCIAL COMMITMENTS

Operating commitments not included in the balance sheet amount to £12,668 (2024: £8,000).

9.	RELATED PARTY DISCLOSURES