REGISTERED NUMBER: 06324909 (England and Wales)

Report of the Director and

Financial Statements for the Year Ended 31 March 2025

for

F1rst Electrical Ltd

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

M Patterson

REGISTERED OFFICE:

134 Duke Street

Southport

Merseyside

PR8 5BZ

REGISTERED NUMBER:

06324909 (England and Wales)

ACCOUNTANTS:

M P Greaves Limited

Chartered Certified Accountants

74 Marmot Road

Liverpool

Merseyside

L37 6GB

The director presents his report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of an electrician.

DIRECTOR

M Patterson held office during the whole of the period from 1 April 2024 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

M Patterson - Director

8 December 2025

TURNOVER

110,992

117,800

Cost of sales

32,353

24,518

GROSS PROFIT

78,639

93,282

Administrative expenses

77,222

81,019

OPERATING PROFIT

4

1,417

12,263

Interest receivable and similar income

2

-

1,419

12,263

Interest payable and similar expenses

2,068

269

(LOSS)/PROFIT BEFORE TAXATION

(649

)

11,994

Tax on (loss)/profit

622

825

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(1,271

)

11,169

FIXED ASSETS

Tangible assets

5

10,997

13,774

CURRENT ASSETS

Stocks

2,000

2,000

Debtors

6

22,913

33,739

Cash at bank

14,542

4,700

39,455

40,439

CREDITORS

Amounts falling due within one year

7

28,041

25,173

NET CURRENT ASSETS

11,414

15,266

TOTAL ASSETS LESS CURRENT LIABILITIES

22,411

29,040

CREDITORS

Amounts falling due after more than one year

8

14,682

20,040

NET ASSETS

7,729

9,000

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

7,728

8,999

SHAREHOLDERS' FUNDS

7,729

9,000

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 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 8 December 2025 and were signed by:

M Patterson - Director

1.	STATUTORY INFORMATION

F1rst Electrical 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 etc

-

25% on reducing balance

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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.25

31.3.24

£

£

Depreciation - owned assets

3,665

4,592

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

30,456

Additions

888

At 31 March 2025

31,344

DEPRECIATION

At 1 April 2024

16,682

Charge for year

3,665

At 31 March 2025

20,347

NET BOOK VALUE

At 31 March 2025

10,997

At 31 March 2024

13,774

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

6,320

8,614

Other debtors

16,593

25,125

22,913

33,739

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

2,160

6,153

Hire purchase contracts

3,198

3,198

Trade creditors

8,191

1,309

Taxation and social security

4,131

13,663

Other creditors

10,361

850

28,041

25,173

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

8,287

10,447

Hire purchase contracts

6,395

9,593

14,682

20,040

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

1,807