1st Executive Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04642279

1st Executive Limited

Filleted Unaudited Financial Statements

31 December 2025

1st Executive Limited

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	3,829	5,850

Current assets

Debtors	6	1,792,973	1,499,946
Cash at bank and in hand		53,542	405,459
		------------	------------
		1,846,515	1,905,405

Creditors: amounts falling due within one year	7	( 1,217,532)	( 1,123,727)
		------------	------------
Net current assets		628,983	781,678
		---------	---------
Total assets less current liabilities		632,812	787,528

Provisions	( 778)	( 853)
	---------	---------
Net assets	632,034	786,675
	---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	632,032	786,673
	---------	---------
Shareholders funds	632,034	786,675
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

1st Executive Limited

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 13 May 2026 , and are signed on behalf of the board by:

J R Tucker	G J Noble
Director	Director

Company registration number: 04642279

1st Executive Limited

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office and principal place of business is 1st Floor, 1 Tannery House, Tannery Lane, Send, Woking, Surrey, GU23 7EF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss as set out in the accounting policies below. The financial statements are prepared in sterling, which is the functional currency of the entity .

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Turnover is recognised when the candidate is placed and/or when the service is provided by the candidate.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment	-	33% straight line
Improvements to leasehold	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Pension costs

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 20 (2024: 20 ).

5. Tangible assets

	Equipment	Improvement to leasehold	Total
	£	£	£
Cost
At 1 January 2025	25,882	8,600	34,482
Additions	2,147	–	2,147
Disposals	( 6,718)	–	( 6,718)
	--------	-------	--------
At 31 December 2025	21,311	8,600	29,911
	--------	-------	--------
Depreciation
At 1 January 2025	22,469	6,163	28,632
Charge for the year	2,448	1,720	4,168
Disposals	( 6,718)	–	( 6,718)
	--------	-------	--------
At 31 December 2025	18,199	7,883	26,082
	--------	-------	--------
Carrying amount
At 31 December 2025	3,112	717	3,829
	--------	-------	--------
At 31 December 2024	3,413	2,437	5,850
	--------	-------	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	1,714,679	1,377,015
Other debtors	78,294	122,931
	------------	------------
	1,792,973	1,499,946
	------------	------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	566,159	441,343
Corporation tax	60,317	23,683
Social security and other taxes	108,079	74,627
Other creditors	482,977	584,074
	------------	------------
	1,217,532	1,123,727
	------------	------------

As at 31 December 2025 465,609 (2024: £553,254) of secured debts are included within other creditors.

Hitachi Capital (UK) Plc hold a fixed and floating charge over the assets of the company.

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	33,000	33,000
Later than 1 year and not later than 5 years	8,250	41,250
	--------	--------
	41,250	74,250
	--------	--------

9. Directors' advances, credits and guarantees

As at 31 December 2025 the company owed £298 to G Noble (2024: the company was owed £25,356). As at 31 December 2025 the company owed £9,726 to J Tucker (2024: the company was owed £36,022).