Firstserv Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 10848997

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		25,921		34,329
Tangible Assets	5		1,575		2,163

			27,496		36,492
CURRENT ASSETS
Debtors	6	19,304		19,207
Cash at bank and in hand		104,434		91,609

		123,738		110,816
Creditors: Amounts Falling Due Within One Year	7	(32,332 )		(41,990 )

NET CURRENT ASSETS (LIABILITIES)			91,406		68,826

TOTAL ASSETS LESS CURRENT LIABILITIES			118,902		105,318

NET ASSETS			118,902		105,318

CAPITAL AND RESERVES
Called up share capital	8		950		950
Revaluation reserve	9		59,502		59,502
Profit and Loss Account			58,450		44,866

SHAREHOLDERS' FUNDS			118,902		105,318

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Firstserv Limited

Balance Sheet (continued)

As At 31 December 2024

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Neil Hollands

Director

29/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Firstserv Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10848997 . The registered office is The Whitehouse, Greenall's Avenue, Warrington, Cheshire, WA4 6HL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are IP addresses. It is amortised to the profit and loss account over its estimated economic life of 10 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	3 years
Computer Equipment	3 years

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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.

...CONTINUED

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Firstserv Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2023: )

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 January 2024	24,567	59,502	84,069

As at 31 December 2024	24,567	59,502	84,069

Amortisation
As at 1 January 2024	14,535	35,205	49,740
Provided during the period	2,457	5,951	8,408

As at 31 December 2024	16,992	41,156	58,148

Net Book Value
As at 31 December 2024	7,575	18,346	25,921

As at 1 January 2024	10,032	24,297	34,329

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	3,678	28,998	32,676
Additions	-	421	421

As at 31 December 2024	3,678	29,419	33,097

Depreciation
As at 1 January 2024	2,791	27,722	30,513
Provided during the period	435	574	1,009

As at 31 December 2024	3,226	28,296	31,522

Net Book Value
As at 31 December 2024	452	1,123	1,575

As at 1 January 2024	887	1,276	2,163

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Firstserv Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	14,327	13,829
Other debtors	4,225	4,626

	18,552	18,455
Due after more than one year
Other debtors	752	752

	19,304	19,207

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	5,669	5,024
Bank loans and overdrafts	15,200	24,800
Other creditors	2,852	2,860
Taxation and social security	8,611	9,306

	32,332	41,990

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	950	950

9. Reserves

	Revaluation Reserve
	£
As at 1 January 2024	59,502

As at 31 December 2024	59,502

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