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Registration number: 11961372

First Venture Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 April 2025

First Venture Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 9

First Venture Limited

Company Information

Director | Barrie Jones

Registered office | Suite 5, 4th Floor 3 Universal Square Devonshire Street North Manchester, M12 6JH

Accountants | Gordon Levy Limited Chartered Accountants Suite 5, 4th Floor 3 Universal Square Devonshire Street North Manchester, M12 6JH

First Venture Limited

(Registration number: 11961372)
Balance Sheet as at 30 April 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 12,547 | 18,673
Current assets |  |  |
Stocks | 5 | 6,800 | 9,450
Debtors | 6 | 18,660 | 1,028
Cash at bank and in hand |  | 26,839 | 22,739
|  | 52,299 | 33,217
Creditors: Amounts falling due within one year | 7 | (136,043) | (98,013)
Net current liabilities |  | (83,744) | (64,796)
Total assets less current liabilities |  | (71,197) | (46,123)
Creditors: Amounts falling due after more than one year | 7 | (886) | (11,155)
Provisions for liabilities |  | (2,384) | (3,548)
Net liabilities |  | (74,467) | (60,826)
Capital and reserves |  |  |
Called up share capital | 8 | 100 | 100
Retained earnings |  | (74,567) | (60,926)
Shareholders' deficit |  | (74,467) | (60,826)

For the financial year ending 30 April 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 January 2026

......................................... Barrie Jones Director

First Venture Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
Suite 5, 4th Floor
3 Universal Square
Devonshire Street North
Manchester, M12 6JH

These financial statements were authorised for issue by the director on 8 January 2026.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax 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 deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

First Venture Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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.

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 | 33.33% straight line
Fixtures and fittings | 20% straight line
Office equipment | 33.33% straight line
Motor vehicles | 30% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

First Venture Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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 13 (2024 - 13).

First Venture Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4 | Tangible assets

| Fixtures and fittings £ | Plant and machinery £ | Office equipment £ | Motor vehicles £
Cost or valuation
At 1 May 2024 | 35,585 | 22,624 | 6,204 | 7,400
Additions | 2,416 | - | - | -
At 30 April 2025 | 38,001 | 22,624 | 6,204 | 7,400
Depreciation
At 1 May 2024 | 31,261 | 15,801 | 5,523 | 555
Charge for the year | 1,729 | 4,141 | 618 | 2,054
At 30 April 2025 | 32,990 | 19,942 | 6,141 | 2,609
Carrying amount
At 30 April 2025 | 5,011 | 2,682 | 63 | 4,791
At 30 April 2024 | 4,324 | 6,823 | 681 | 6,845

| Total £
Cost or valuation
At 1 May 2024 | 71,813
Additions | 2,416
At 30 April 2025 | 74,229
Depreciation
At 1 May 2024 | 53,140
Charge for the year | 8,542
At 30 April 2025 | 61,682
Carrying amount
At 30 April 2025 | 12,547
At 30 April 2024 | 18,673

5 | Stocks

| 2025 £ | 2024 £
Other inventories | 6,800 | 9,450

First Venture Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

6 | Debtors

Current | Note | 2025 £ | 2024 £
Amounts owed by related parties | 10 | 17,394 | -
Prepayments |  | 308 | 70
Other debtors |  | 958 | 958
|  | 18,660 | 1,028

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 10,290 | 10,225
Trade creditors |  | 6,005 | 6,711
Taxation and social security |  | 30,103 | 22,750
Accruals and deferred income |  | 6,868 | 4,480
Other creditors |  | 82,777 | 53,847
|  | 136,043 | 98,013

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 886 | 11,155

First Venture Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 100 | 100 | 100 | 100

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 886 | 11,155

Current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 10,290 | 10,225

10 | Related party transactions

Summary of transactions with other related parties

The company is in common control with 2nd Venture Limited. Loans to other related parties figure, presented below, comprises loans to 2nd Venture Limited.

Loans to related parties

2025 | Other related parties £ | Total £
Advanced | 17,394 | 17,394
At end of period | 17,394 | 17,394

Terms of loans to related parties

Loans to other related parties are unsecured, interest free and repayable on demand.

Loans from related parties

2025 | Key management £ | Total £
At start of period | 49,573 | 49,573
Advanced | 28,936 | 28,936
At end of period | 78,509 | 78,509

First Venture Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

2024 | Key management £ | Total £
At start of period | 21,709 | 21,709
Advanced | 27,864 | 27,864
At end of period | 49,573 | 49,573

Terms of loans from related parties

Loans from key management, included in other creditors, are unsecured, interest free and repayable on demand.