REGISTERED NUMBER: 04498842 (England and Wales)

Financial Statements

for the Year Ended 31 October 2024

for

Allfirst Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J.S. Sandall

Mrs P.A. Sandall

Mr G A Sandall

SECRETARY:

Mrs P.A. Sandall

REGISTERED OFFICE:

Williamston House

7 Goat Street

Haverfordwest

Pembrokeshire

SA61 1PX

REGISTERED NUMBER:

04498842 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

10,429

12,574

10,429

12,574

CURRENT ASSETS

Stocks

6

6,059

6,309

Debtors

7

617

215

Cash in hand

800

800

7,476

7,324

CREDITORS

Amounts falling due within one year

8

117,197

85,408

NET CURRENT LIABILITIES

(109,721

)

(78,084

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(99,292

)

(65,510

)

CREDITORS

Amounts falling due after more than one year

9

(21,771

)

(26,521

)

PROVISIONS FOR LIABILITIES

-

(3,143

)

NET LIABILITIES

(121,063

)

(95,174

)

CAPITAL AND RESERVES

Called up share capital

1,900

1,900

Retained earnings

(122,963

)

(97,074

)

SHAREHOLDERS' FUNDS

(121,063

)

(95,174

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 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 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 7 October 2025 and were signed on its behalf by:

Mr G A Sandall - Director

1.	STATUTORY INFORMATION

Allfirst 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Stocks

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

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.

Government grants

Capital grants received are classified as deferred income and are amortised over a ten year period on a straight line basis.

Revenue based grants are credited to the profit and loss account in the period receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2023

and 31 October 2024

100,000

AMORTISATION

At 1 November 2023

and 31 October 2024

100,000

NET BOOK VALUE

At 31 October 2024

-

At 31 October 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 November 2023

242,322

103,801

48,391

Additions

-

3,200

-

Disposals

-

-

-

At 31 October 2024

242,322

107,001

48,391

DEPRECIATION

At 1 November 2023

242,322

93,475

48,391

Charge for year

-

3,494

-

Eliminated on disposal

-

-

-

At 31 October 2024

242,322

96,969

48,391

NET BOOK VALUE

At 31 October 2024

-

10,032

-

At 31 October 2023

-

10,326

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 November 2023

8,995

2,133

405,642

Additions

-

529

3,729

Disposals

-

(1,883

)

(1,883

)

At 31 October 2024

8,995

779

407,488

DEPRECIATION

At 1 November 2023

6,747

2,133

393,068

Charge for year

2,248

132

5,874

Eliminated on disposal

-

(1,883

)

(1,883

)

At 31 October 2024

8,995

382

397,059

NET BOOK VALUE

At 31 October 2024

-

397

10,429

At 31 October 2023

2,248

-

12,574

6.

STOCKS

31.10.24

31.10.23

£

£

Bar Stocks

5,000

5,250

Closing Bird Stock

1,059

1,059

6,059

6,309

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Other debtors

181

181

Directors' current accounts

-

2

Tax

10

-

Prepayments

426

32

617

215

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans and overdrafts

37,021

28,831

Trade creditors

29,923

31,757

Tax

-

70

Social security and other taxes

35

383

VAT

27,805

24,367

Other creditors

7,000

-

Directors' current accounts

14,828

-

Accruals and deferred income

585

-

117,197

85,408

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans - 1-2 years

4,750

4,750

Bank loans - 2-5 years

14,250

14,250

Bank loans more 5 yr by instal

2,771

7,521

21,771

26,521

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,771

7,521

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.24

31.10.23

£

£

Bank overdrafts

32,271

24,081

Bank loans

26,521

31,271

58,792

55,352

Bank borrowings are secured by means of a fixed and floating charge over the company's assets.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24

31.10.23

£

£

Mr J.S. Sandall and Mrs P.A. Sandall

Balance outstanding at start of year

-

(437

)

Amounts advanced

-

15,879

Amounts repaid

-

(15,442

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Mr G A Sandall

Balance outstanding at start of year

-

-

Amounts advanced

32,463

16,485

Amounts repaid

(47,290

)

(16,485

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(14,827

)

-

12.	RELATED PARTY DISCLOSURES

During the period the company paid rent of £67,762 (2023 £48,020) to Mr J.S and Mrs P.A Sandall for use of its business premises.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr J.S & Mrs P.A Sandall.

14.	GOING CONCERN

At the balance sheet date the company's liabilities exceeded its assets by £121,063. The accounts have been prepared under the going concern basis which assumes that the company's directors and bankers will continue to provided adequate financial resources over future periods.