First Ideas Limited

First Ideas Limited
Contents Page
For the year ended 31 January 2026

Accountants' Report	1
Statement of Financial Position	2
Notes to the Financial Statements	3

First Ideas Limited Accountants' Report For the year ended 31 January 2026
Report to the directors on the preparation of the unaudited statutory accounts of First Ideas Limited for the year ended 31 January 2026. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of First Ideas Limited for the year ended 31 January 2026 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/. This report is made solely to the Board of Directors of First Ideas Limited, as a body, in accordance with the terms of our engagement letter dated 26 October 2026. Our work has been undertaken solely to prepare for your approval the accounts of First Ideas Limited and state those matters that we have agreed to state to the Board of Directors of First Ideas Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First Ideas Limited and its Board of Directors as a body for our work or for this report. It is your duty to ensure that First Ideas Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of First Ideas Limited. You consider that First Ideas Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of First Ideas Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts 31 January 2026. .................................................... Cole Accounting Limited Clarendon House 42 Clarence Street Cheltenham Gloucestershire GL50 3PL 26 October 2026 1

First Ideas Limited
Accountants' Report
For the year ended 31 January 2026

Report to the directors on the preparation of the unaudited statutory accounts of First Ideas Limited for the year ended 31 January 2026.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of First Ideas Limited for the year ended 31 January 2026 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/.
This report is made solely to the Board of Directors of First Ideas Limited, as a body, in accordance with the terms of our engagement letter dated 26 October 2026. Our work has been undertaken solely to prepare for your approval the accounts of First Ideas Limited and state those matters that we have agreed to state to the Board of Directors of First Ideas Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First Ideas Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that First Ideas Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of First Ideas Limited. You consider that First Ideas Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of First Ideas Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 January 2026.

....................................................
Cole Accounting Limited
Clarendon House
42 Clarence Street
Cheltenham
Gloucestershire
GL50 3PL
26 October 2026

1

Registered Number: 08885551 First Ideas Limited
Statement of Financial Position
As at 31 January 2026

	Notes	2026 £	2025 £
Fixed assets
Intangible fixed assets	3	72,744	-
Tangible fixed assets	4	3,971	4,963
		76,715	4,963
Current assets
Debtors		14,200	143
Cash at bank and in hand		132,738	96,422
		146,938	96,565
Creditors: amount falling due within one year		(29,912)	(15,881)
Net current assets		117,026	80,684

Total assets less current liabilities		193,741	85,647
Provisions for liabilities		-	(785)
Net assets		193,741	84,862

Capital and reserves
Called up share capital	5	4	4
Revaluation Reserves		33,827	-
Profit and loss account		159,910	84,858
Shareholders' funds		193,741	84,862

For the year ended 31 January 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the board of directors on 26 October 2026 and were signed on its behalf by:

-------------------------------
Gordon Hill
Director

2

First Ideas Limited
Notes to the Abridged Financial Statements
For the year ended 31 January 2026

General Information

First Ideas Limited is a private company, limited by shares, registered in , registration number 08885551, registration address 15 Jubbs Lane, Ogbourne St George, Marlborough, SN8 1SR.

The presentation currency is £ sterling.

1.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Fixtures and Fittings	20% Reducing Balance
Computer Equipment	20% Reducing Balance

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the period was 2 (2025 : 2).

3.

Intangible fixed assets

Cost	Goodwill	Software License	Total
	£	£	£
At 01 February 2025	7,173	-	7,173
Additions	-	47,000	47,000
Disposals	-	-	-
Revaluations	33,827	-	33,827
At 31 January 2026	41,000	47,000	88,000
Amortisation
At 01 February 2025	7,173	-	7,173
Charge for year	3,383	4,700	8,083
On disposals	-	-	-
At 31 January 2026	10,556	4,700	15,256
Net book values
At 31 January 2026	30,444	42,300	72,744
At 31 January 2025	-	-	-

4.

Tangible fixed assets

Cost or valuation	Fixtures and Fittings	Computer Equipment	Total
	£	£	£
At 01 February 2025	872	15,246	16,118
Additions	-	-	-
Disposals	-	-	-
At 31 January 2026	872	15,246	16,118
Depreciation
At 01 February 2025	671	10,484	11,155
Charge for year	40	952	992
On disposals	-	-	-
At 31 January 2026	711	11,436	12,147
Net book values
Closing balance as at 31 January 2026	161	3,810	3,971
Opening balance as at 01 February 2025	201	4,762	4,963

5.

Share Capital

Allotted, called up and fully paid	2026 £	2025 £
2 Ordinary shares of £1.00 each	2	2
2 Ordinary A shares of £1.00 each	2	2
	4	4

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