REGISTERED NUMBER: 05274167 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

FIRST POTENTIAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A C Brown

Mrs R M Brown

SECRETARY:

Mrs R M Brown

REGISTERED OFFICE:

61 Station Road

Sudbury

Suffolk

CO10 2SP

REGISTERED NUMBER:

05274167 (England and Wales)

ACCOUNTANTS:

Seago and Stopps

Chartered Certified Accountants

61 Station Road

Sudbury

Suffolk

CO10 2SP

FIXED ASSETS

485

Intangible assets

4

485

596

Tangible assets

5

445

1,081

930

CURRENT ASSETS

7,000

Stocks

-

483

Debtors

6

7,845

42,632

Cash at bank

140,588

50,115

148,433

CREDITORS

21,948

Amounts falling due within one year

7

73,773

28,167

NET CURRENT ASSETS

74,660

29,248

TOTAL ASSETS LESS CURRENT LIABILITIES

75,590

238

PROVISIONS FOR LIABILITIES

233

29,010

NET ASSETS

75,357

CAPITAL AND RESERVES

10

Called up share capital

10

29,000

Retained earnings

75,347

29,010

SHAREHOLDERS' FUNDS

75,357

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2025 and were signed on its behalf by:

A C Brown - Director

1.	STATUTORY INFORMATION

First Potential Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the value of work completed during the year, by reference to invoiced sales and the movement between opening and closing work in progress and trade debtor balances.

Intangible assets

No amortisation has been charged in respect of website costs incurred in previous years as it is considered that the value of the website is greater than what was paid for it.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment - 25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Financial instruments

The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Website

costs

£

COST

At 1 April 2024

and 31 March 2025

485

NET BOOK VALUE

At 31 March 2025

485

At 31 March 2024

485

5.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 April 2024

and 31 March 2025

2,138

DEPRECIATION

At 1 April 2024

1,542

Charge for year

151

At 31 March 2025

1,693

NET BOOK VALUE

At 31 March 2025

445

At 31 March 2024

596

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

1,500

-

Other debtors

6,345

483

7,845

483

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

435

771

Taxation and social security

71,176

19,208

Other creditors

2,162

1,969

73,773

21,948