REGISTERED NUMBER: 12401879 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

First Things Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Walker

REGISTERED OFFICE:

Kenton House

Oxford Street

Moreton-in-Marsh

GL56 0LA

REGISTERED NUMBER:

12401879 (England and Wales)

ACCOUNTANTS:

Tayabali Tomlin

Chartered Accountants

Kenton House

Oxford Street

Moreton-in-Marsh

Gloucestershire

GL56 0LA

FIXED ASSETS

Tangible assets

4

12,570

15,730

CURRENT ASSETS

Debtors

5

17,211

43,909

Cash at bank

116,257

107,434

133,468

151,343

CREDITORS

Amounts falling due within one year

6

30,011

44,936

NET CURRENT ASSETS

103,457

106,407

TOTAL ASSETS LESS CURRENT LIABILITIES

116,027

122,137

PROVISIONS FOR LIABILITIES

3,142

3,933

NET ASSETS

112,885

118,204

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

112,785

118,104

112,885

118,204

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 29 July 2025 and were signed by:

A Walker - Director

1.	STATUTORY INFORMATION

First Things 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

20% on cost

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 February 2024

8,032

9,597

20,845

38,474

Additions

-

-

3,673

3,673

At 31 January 2025

8,032

9,597

24,518

42,147

DEPRECIATION

At 1 February 2024

5,572

4,341

12,831

22,744

Charge for year

615

1,314

4,904

6,833

At 31 January 2025

6,187

5,655

17,735

29,577

NET BOOK VALUE

At 31 January 2025

1,845

3,942

6,783

12,570

At 31 January 2024

2,460

5,256

8,014

15,730

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

13,750

Other debtors

17,211

30,159

17,211

43,909

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

4,604

-

Taxation and social security

25,407

44,936

30,011

44,936

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £87,400 (2024 - £90,000) were paid to the director .