IRIS Accounts Production v25.2.0.378 SC493420 Board of Directors Board of Directors 1.4.24 31.3.25 31.3.25 false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC493420 2024-03-31 SC493420 2025-03-31 SC493420 2024-04-01 2025-03-31 SC493420 2023-03-31 SC493420 2023-04-01 2024-03-31 SC493420 2024-03-31 SC493420 ns15:Scotland 2024-04-01 2025-03-31 SC493420 ns14:PoundSterling 2024-04-01 2025-03-31 SC493420 ns10:Director1 2024-04-01 2025-03-31 SC493420 ns10:Director2 2024-04-01 2025-03-31 SC493420 ns10:CompanyLimitedByGuarantee 2024-04-01 2025-03-31 SC493420 ns10:SmallEntities 2024-04-01 2025-03-31 SC493420 ns10:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 SC493420 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 SC493420 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC493420 ns10:FullAccounts 2024-04-01 2025-03-31 SC493420 ns10:Director4 2024-04-01 2025-03-31 SC493420 ns10:Director6 2024-04-01 2025-03-31 SC493420 ns10:Director7 2024-04-01 2025-03-31 SC493420 ns10:Director9 2024-04-01 2025-03-31 SC493420 ns10:Director10 2024-04-01 2025-03-31 SC493420 ns10:Director11 2024-04-01 2025-03-31 SC493420 ns10:Director12 2024-04-01 2025-03-31 SC493420 ns10:Director13 2024-04-01 2025-03-31 SC493420 ns10:RegisteredOffice 2024-04-01 2025-03-31 SC493420 ns5:CurrentFinancialInstruments 2024-03-31 SC493420 ns5:CurrentFinancialInstruments 2025-03-31 SC493420 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 SC493420 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 SC493420 ns5:PlantMachinery 2024-04-01 2025-03-31 SC493420 ns5:FurnitureFittings 2024-04-01 2025-03-31 SC493420 ns5:ComputerEquipment 2024-04-01 2025-03-31 SC493420 ns5:PlantMachinery 2024-03-31 SC493420 ns5:FurnitureFittings 2024-03-31 SC493420 ns5:ComputerEquipment 2024-03-31 SC493420 ns5:PlantMachinery 2025-03-31 SC493420 ns5:FurnitureFittings 2025-03-31 SC493420 ns5:ComputerEquipment 2025-03-31 SC493420 ns5:PlantMachinery 2024-03-31 SC493420 ns5:FurnitureFittings 2024-03-31 SC493420 ns5:ComputerEquipment 2024-03-31 SC493420 ns5:WithinOneYear 2025-03-31 SC493420 ns5:WithinOneYear 2024-03-31

REGISTERED NUMBER: SC493420 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

PAISLEY FIRST

PAISLEY FIRST (REGISTERED NUMBER: SC493420)

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

PAISLEY FIRST

COMPANY INFORMATION

for the Year Ended 31 March 2025

| DIRECTORS: | E W Templeton

| R K A Ford

| C Sweeney

| H G Brown

| D Fallon

| I H Henderson

| F McTaggart

| A McLaren

| J A MacIver

| L Adamson

| REGISTERED OFFICE: | 1 County Place

| Paisley

| Renfrewshire

| PA1 1BN

| REGISTERED NUMBER: | SC493420 (Scotland)

| ACCOUNTANTS: | John M Taylor & Co

| Chartered Accountants

| 9 Glasgow Road

| PAISLEY

| Renfrewshire

| PA1 3QS

PAISLEY FIRST (REGISTERED NUMBER: SC493420)

BALANCE SHEET

31 March 2025

31.3.24 |  | 31.3.25 |

£ | £ |  | Notes | £ | £ |

| FIXED ASSETS

1,057 |  |  | Tangible assets | 5 | 32 |  |

| CURRENT ASSETS

55,309 |  |  | Debtors | 6 | 37,414 |  |

130,738 |  |  | Cash at bank and in hand | 85,724 |  |

186,047 |  | 123,138 |  |

| CREDITORS

186,412 |  |  | Amounts falling due within one year | 7 | 122,357 |  |

(365 | ) |  | NET CURRENT ASSETS/(LIABILITIES) | 781 |  |

692 |  |  | TOTAL ASSETS LESS CURRENT LIABILITIES | 813 |  |

| RESERVES

692 |  |  | Income and expenditure account | 813 |  |

692 |  | 813 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 surplus or deficit 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.

PAISLEY FIRST (REGISTERED NUMBER: SC493420)

BALANCE SHEET - continued

31 March 2025

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 28 August 2025 and were signed on its behalf by:

E W Templeton - Director

D Fallon - Director

PAISLEY FIRST (REGISTERED NUMBER: SC493420)

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Paisley First is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

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

| Turnover

| The turnover in the income and expenditure account represents the services for town centre management during the year, together with income from ancillary sales and services, excluding value added tax and pertaining to the associated spend in the year.

| Turnover is recognised in the financial statements as services are provided. Income received in the period but relating to future periods is recognised as deferred income in the balance sheet.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Plant & machinery | - | 20% on cost

| Fixtures and fittings | - | 20% on cost

| Computer equipment | - | 33% on cost

| Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

| At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

PAISLEY FIRST (REGISTERED NUMBER: SC493420)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

3. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

| The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

| Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

| Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

| 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.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

| Financial instruments

| Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

| Employee benefits

| Short-term employee benefits are recognised as an expense in the period in which they are incurred. The cost of any unused holiday pay is recognised in the period in which the employee's services are received.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 4 ) .

PAISLEY FIRST (REGISTERED NUMBER: SC493420)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant & |  | and |  | Computer

| Totals |  | machinery |  | fittings |  | equipment

£ | £ | £ | £ |

| COST

| At 1 April 2024

| and 31 March 2025 | 10,430 |  | 1,700 |  | 4,744 |  | 3,986 |  |

| DEPRECIATION

| At 1 April 2024 | 9,373 |  | 1,700 |  | 4,744 |  | 2,929 |  |

| Charge for year | 1,025 |  | - |  | - |  | 1,025 |  |

| At 31 March 2025 | 10,398 |  | 1,700 |  | 4,744 |  | 3,954 |  |

| NET BOOK VALUE

| At 31 March 2025 | 32 |  | - |  | - |  | 32 |  |

| At 31 March 2024 | 1,057 |  | - |  | - |  | 1,057 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Prepayments and accrued income | 37,414 |  | 55,309 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade creditors | 12,384 |  | 14,385 |  |

| Social security and other taxes | 2,192 |  | 1,988 |  |

| VAT | 15,318 |  | 11,249 |  |

| Other creditors | 95 |  | - |  |

| Deferred income | 89,540 |  | 155,938 |  |

| Accrued expenses | 2,828 |  | 2,852 |  |

122,357 |  | 186,412 |  |

8. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

| 31.3.25 |  | 31.3.24

£ | £ |

| Within one year | - |  | 9,750 |  |

9. | ULTIMATE CONTROLLING PARTY

| The company did not have a controlling party during the accounting period

PAISLEY FIRST (REGISTERED NUMBER: SC493420)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

10. | LIMITED BY GUARANTEE

| The company is a not for profit, private company limited by guarantee and consequently does not have a share capital.The liability of members is limited to an undertaking by each member to contribute to the net assets or liabilities on winding up such amounts as required not exceeding £1.