ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

This loan is unsecured and is repayable in monthly instalments. Interest has been charged on the loan at a fixed rate of 2.5%.

Registered number: 2175649

Firmdirect Limited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2025


Firmdirect Limited Registered number:2175649

Balance Sheet

As at 31 March 2025

	2025	2024
Note	£	£


Current assets
Debtors	4	528,218	767,523
Cash at bank and in hand	5	42,725	38,728
		570,943	806,251
Creditors: amounts falling due within one year	6	(444,008)	(685,593)
Net current assets		126,935	120,658
Creditors: amounts falling due after more than one year	7	(25,642)	(31,057)

Net assets		101,293	89,601

Capital and reserves
Called up share capital	1,644	1,644
Capital redemption reserve	3,122	3,122
Profit and loss account	96,527	84,835
	101,293	89,601

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 17 July 2025.

Mrs L C Mallion

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1


Firmdirect Limited

Notes to the Financial Statements

For the Year Ended 31 March 2025

1.	General information

Firmdirect Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 9 Cobbins Grove, Burnham-On-Crouch, Essex CM0 8JP.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue from a contract to provide services is recognised in the period in which the services are provided.

2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 2


Firmdirect Limited

Notes to the Financial Statements

For the Year Ended 31 March 2025

2.Accounting policies (continued)

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

2.8

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 54 (2024 - 52).

Page 3


Firmdirect Limited

Notes to the Financial Statements

For the Year Ended 31 March 2025

Debtors

					2025	2024
					£	£


Trade debtors	522,010	763,304
Other debtors	4,070	2,444
Prepayments and accrued income	2,138	1,775
	528,218	767,523

5.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	42,725	38,728

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	6,279	6,429
Trade creditors	-	901
Corporation tax	48,087	24,461
Other taxation and social security	200,020	234,776
Other creditors	189,025	414,751
Accruals and deferred income	597	4,275
	444,008	685,593

7.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

	Bank loans	25,642	31,057

Page 4


Firmdirect Limited

Notes to the Financial Statements

For the Year Ended 31 March 2025

Amounts falling due within one year
Bank loans	6,279	6,429
Amounts falling due 1-2 years
Bank loans	6,140	6,429
Amounts falling due 2-5 years
Bank loans	19,502	19,288
Amounts falling due after more than 5 years
Bank loans	-	5,339
	31,921	37,485

9.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charge represents contributions payable by the company to the fund and amounted to £30,104 (2024 - £29,350).

Page 5