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Registration number: 03741616

First Choice Financial Management Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 July 2025

First Choice Financial Management Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 8

First Choice Financial Management Limited

Company Information

Director | Mr A Murphy

Company secretary | Mrs D Murphy

Registered office | Fawley House 2 Regatta Place Marlow Road Bourne End Buckinghamshire SL8 5TD

Accountants | Sterling Grove Accountants Limited Chartered Certified AccountantsFawley House 2 Regatta Place Marlow Road Bourne End Buckinghamshire SL8 5TD

First Choice Financial Management Limited

(Registration number: 03741616)
Balance Sheet as at 31 July 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 48,827 | 65,103
Tangible assets | 5 | 9,834 | 6,642
|  | 58,661 | 71,745
Current assets |  |  |
Debtors | 6 | 453,536 | 265,242
Cash at bank and in hand |  | 280,094 | 97,624
|  | 733,630 | 362,866
Creditors: Amounts falling due within one year | 7 | (174,627) | (102,678)
Net current assets |  | 559,003 | 260,188
Net assets |  | 617,664 | 331,933
Capital and reserves |  |  |
Called up share capital |  | 400 | 400
Retained earnings |  | 617,264 | 331,533
Shareholders' funds |  | 617,664 | 331,933

For the financial year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 December 2025

......................................... Mr A Murphy Director

First Choice Financial Management Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fawley House 2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
United Kingdom

These financial statements were authorised for issue by the director on 10 December 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

First Choice Financial Management Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 15% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Intangible assets | over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

First Choice Financial Management Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2024 - 6).

First Choice Financial Management Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 August 2024 | 162,758 | 162,758
At 31 July 2025 | 162,758 | 162,758
Amortisation
At 1 August 2024 | 97,655 | 97,655
Amortisation charge | 16,276 | 16,276
At 31 July 2025 | 113,931 | 113,931
Carrying amount
At 31 July 2025 | 48,827 | 48,827
At 31 July 2024 | 65,103 | 65,103

5 | Tangible assets

| Plant and machinery £ | Total £
Cost or valuation
At 1 August 2024 | 38,577 | 38,577
Additions | 5,575 | 5,575
Disposals | (27,337) | (27,337)
At 31 July 2025 | 16,815 | 16,815
Depreciation
At 1 August 2024 | 31,935 | 31,935
Charge for the year | 2,383 | 2,383
Eliminated on disposal | (27,337) | (27,337)
At 31 July 2025 | 6,981 | 6,981
Carrying amount
At 31 July 2025 | 9,834 | 9,834
At 31 July 2024 | 6,642 | 6,642

First Choice Financial Management Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

6 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 35,915 | 46,288
Amounts owed by related parties | 9 | 339,388 | 188,984
Prepayments |  | 3,718 | 3,613
Other debtors |  | 74,515 | 26,357
|  | 453,536 | 265,242

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 84 | 118
Taxation and social security | 168,430 | 90,000
Accruals and deferred income | 2,560 | 9,883
Other creditors | 3,553 | 2,677
| 174,627 | 102,678

8 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £3,251 (2024 - £10,517).

First Choice Financial Management Limited

Notes to the Financial Statements for the Year Ended 31 July 2025

9 | Related party transactions

Transactions with the director

2025 | At 1 August 2024 £ | Advances to director £ | Repayments by director £ | At 31 July 2025 £
Mr P B Shepherd
Amounts due from director at year end | 94,274 | 242,867 | (115,837) | 221,304
Mr A Murphy
Amounts due from director at year end | 94,710 | 133,382 | (110,008) | 118,084

2024 | At 1 August 2023 £ | Advances to director £ | Repayments by director £ | At 31 July 2024 £
Mr P B Shepherd
Amounts due from director at year end | 171,433 | 162,216 | (239,375) | 94,274
Mr A Murphy
Amounts due from director at year end | 67,842 | 162,649 | (135,781) | 94,710