REGISTERED NUMBER: 13712088 (England and Wales)

Financial Statements for the Year Ended 28 February 2025

for

First Technology Holdings Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr G Sharp

Mr A Sharp

Mr D Stow

SECRETARY:

RF Secretaries Limited

REGISTERED OFFICE:

23D Horseshoe Park

Pangbourne

Berkshire

RG8 7JW

REGISTERED NUMBER:

13712088 (England and Wales)

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

Pinnacle House

1 Pinnacle Way

Derby

Derbyshire

DE24 8ZS

FIXED ASSETS

Intangible assets

4

-

5,120

Property, plant and equipment

5

6,224

6,928

6,224

12,048

CURRENT ASSETS

Inventories

6

146,503

1,073

Debtors

7

2,965,663

1,517,223

Cash at bank

890,900

101,584

4,003,066

1,619,880

CREDITORS

Amounts falling due within one year

8

3,857,427

1,606,418

NET CURRENT ASSETS

145,639

13,462

TOTAL ASSETS LESS CURRENT LIABILITIES

151,863

25,510

PROVISIONS FOR LIABILITIES

1,556

3,012

NET ASSETS

150,307

22,498

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

150,207

22,398

SHAREHOLDERS' FUNDS

150,307

22,498

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:

Mr G Sharp - Director

1.	STATUTORY INFORMATION

First Technology Holdings 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.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes to include sales related bonus/royalties earned. Revenue is accounted for when products or services are supplied to the company's customers.

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.

Computer software is being amortised evenly over its estimated useful life of 3 years.

Property, plant and equipment

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

Fixtures and fittings

-

16.33% on cost

Computer equipment

-

33% on cost

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

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.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 March 2024

and 28 February 2025

8,777

AMORTISATION

At 1 March 2024

3,657

Amortisation for year

5,120

At 28 February 2025

8,777

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

5,120

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 March 2024

4,614

2,969

7,583

Additions

343

931

1,274

At 28 February 2025

4,957

3,900

8,857

DEPRECIATION

At 1 March 2024

109

546

655

Charge for year

817

1,161

1,978

At 28 February 2025

926

1,707

2,633

NET BOOK VALUE

At 28 February 2025

4,031

2,193

6,224

At 29 February 2024

4,505

2,423

6,928

6.	INVENTORIES

2025

2024

£

£

Stocks

146,503

1,073

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,499,022

1,153,617

Amounts owed by group undertakings

382,664

129,593

Other debtors

3,000

3,000

Prepayments and accrued income

80,977

231,013

2,965,663

1,517,223

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

2,224,516

188,682

Amounts owed to group undertakings

1,341,491

1,341,491

Tax

53,648

2,639

Social security and other taxes

39,184

33,004

VAT

48,090

24,668

Other creditors

3,537

5,034

Accruals and deferred income

146,961

10,900

3,857,427

1,606,418

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

1

100

100

The above shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gary Underwood (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

11.	PENSION COMMITMENTS

The entity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. The amount charged against profits represent the contributions payable to the scheme in respect of the accounts accounting period and amounts to £9,125 (2024: £5,806) There were £0 of outstanding contributions payable at the year end.

12.	RELATED PARTY DISCLOSURES

The balance outstanding on interest free loans provided from companies with common directors amounted to £1,341,491 (2024: £1,341,491).

The balance outstanding on interest free loans provided to companies with common directors amounted to £382,664 (2024: £129,593).

13.	ULTIMATE PARENT COMPANY

First Technology Investments (Pty) Ltd (incorporated in South Africa) is regarded by the directors as being the company's ultimate parent company.