Registration number: 03881209

First Capital Corporation Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

First Capital Corporation Limited

Company Information

Directors

H Moore J Purcell

Registered office

5th Floor 52 Cornhill London EC3V 3PD

Accountants

Addicus Plus Limited Chartered Certified Accountants4 The Axium Centre Dorchester Road Lytchett Minster Poole Dorset BH16 6FE

First Capital Corporation Limited

(Registration number: 03881209)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	35,450	36,371
Current assets
Debtors	5	877,701	1,129,297
Cash at bank and in hand		13,526	215,258
		891,227	1,344,555
Creditors: Amounts falling due within one year	6	(264,949)	(501,726)
Net current assets		626,278	842,829
Total assets less current liabilities		661,728	879,200
Creditors: Amounts falling due after more than one year	6	-	(25,000)
Provisions for liabilities		(4,964)	(4,750)
Net assets		656,764	849,450
Capital and reserves
Called up share capital		131,125	131,125
Share premium reserve		423,286	423,286
Retained earnings		102,353	295,039
Shareholders' funds		656,764	849,450

For the financial year ending 31 March 2026 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

First Capital Corporation Limited

(Registration number: 03881209)
Balance Sheet as at 31 March 2026

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 24 June 2026 and signed on its behalf by:
 

J Purcell Director

First Capital Corporation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

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

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

First Capital Corporation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

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.

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.

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.

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
Leasehold property	5 year straight line
Office equipment	3 year straight line
Motor vehicles	25% reducing balance

First Capital Corporation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

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.

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.

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. 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2025 - 13).

First Capital Corporation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4	Tangible assets

	Short leasehold land and buildings £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	20,622	24,172	57,590	102,384
Additions	-	16,786	-	16,786
At 31 March 2026	20,622	40,958	57,590	119,170
Depreciation
At 1 April 2025	12,372	20,346	33,295	66,013
Charge for the year	4,124	7,509	6,074	17,707
At 31 March 2026	16,496	27,855	39,369	83,720
Carrying amount
At 31 March 2026	4,126	13,103	18,221	35,450
At 31 March 2025	8,250	3,826	24,295	36,371

Included within the net book value of land and buildings above is £4,126 (2025 - £8,250) in respect of short leasehold land and buildings.
 

5

Debtors

	2026 £	2025 £
Trade debtors	84,404	18,000
Other debtors	6,469	19,979
Prepayments	75,726	20,814
Accrued income	711,102	1,070,504
	877,701	1,129,297

First Capital Corporation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

6

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	7	50,000	150,000
Trade creditors		65,558	15,154
Taxation and social security		117,489	83,102
Accruals and deferred income		4,058	4,013
Other creditors		27,844	249,457
		264,949	501,726

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	7	-	25,000

7	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	-	25,000

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	50,000	150,000

First Capital Corporation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

8	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2026 £	2025 £
Not later than one year	87,168	87,168
Later than one year and not later than five years	43,588	130,756
	130,756	217,924

The amount of non-cancellable operating lease payments recognised as an expense during the year was £Nil (2025 - £Nil).

9	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2026 £	2025 £
Remuneration	184,882	172,936