COMPANY REGISTRATION NUMBER:
04124443
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1ST OPTION REPRESENTATION LIMITED |
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Filleted Unaudited Abridged Financial Statements |
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1ST OPTION REPRESENTATION LIMITED |
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Abridged Statement of Financial Position |
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31 March 2026
Fixed assets
|
Tangible assets |
5 |
9,640 |
14,315 |
|
|
|
|
Current assets
|
Debtors: due within one year |
355,558 |
89,545 |
|
Cash at bank and in hand |
259,756 |
445,083 |
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--------- |
--------- |
|
615,314 |
534,628 |
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|
|
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Creditors: amounts falling due within one year |
280,232 |
197,051 |
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--------- |
--------- |
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Net current assets |
335,082 |
337,577 |
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--------- |
--------- |
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Total assets less current liabilities |
344,722 |
351,892 |
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--------- |
--------- |
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Net assets |
344,722 |
351,892 |
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--------- |
--------- |
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|
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Capital and reserves
|
Called up share capital |
100 |
100 |
|
Profit and loss account |
344,622 |
351,792 |
|
--------- |
--------- |
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Shareholders funds |
344,722 |
351,892 |
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--------- |
--------- |
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These abridged 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 March 2026 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 abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 March 2026 in accordance with Section 444(2A) of the Companies Act 2006.
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1ST OPTION REPRESENTATION LIMITED |
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Abridged Statement of Financial Position (continued) |
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31 March 2026
These abridged financial statements were approved by the
board of directors
and authorised for issue on
13 July 2026
, and are signed on behalf of the board by:
Company registration number:
04124443
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1ST OPTION REPRESENTATION LIMITED |
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Notes to the Abridged Financial Statements |
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Year ended 31 March 2026
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 11 Iron Bridge House, Bridge Approach, London, NW1 8BD, England.
2.
Statement of compliance
The financial statements have been prepared in accordance with FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities and under the historical cost convention and in accordance with the Companies Act 2006.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises sales of services rendered to customers net of discounts and Value Added Tax. Revenue is recognised when performance obligations are satisfied and the control of the service is transferred to the buyer. When the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Cost includes costs which are directly attributable in bringing the asset to its location and condition so that it is capable of operating in the manner intended by management.
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:
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Fixtures and fittings |
- |
20% straight line |
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Equipment |
- |
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The gain or loss arising on disposal of an asset is determined as the difference between the sale process and the carrying amount of the asset and it is credited or charged to profit or loss.
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2025:
7
).
5.
Tangible assets
|
£ |
|
Cost |
|
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At 1 April 2025 and 31 March 2026 |
44,707 |
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-------- |
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Depreciation |
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At 1 April 2025 |
30,392 |
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Charge for the year |
4,675 |
|
-------- |
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At 31 March 2026 |
35,067 |
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-------- |
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Carrying amount |
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At 31 March 2026 |
9,640 |
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-------- |
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At 31 March 2025 |
14,315 |
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-------- |
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6.
Director's advances, credits and guarantees
The director Loan account at year end is £194,713 debit balance