First Financial Consulting Ltd. - Accounts to registrar (filleted) - small 18.2

First Financial Consulting Ltd. - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: SC304033 (Scotland)











FIRST FINANCIAL CONSULTING LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018






FIRST FINANCIAL CONSULTING LTD. (REGISTERED NUMBER: SC304033)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6

Chartered Accountants' Report 7

FIRST FINANCIAL CONSULTING LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2018







DIRECTOR: D J McFetridge



REGISTERED OFFICE: Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA



REGISTERED NUMBER: SC304033 (Scotland)



ACCOUNTANTS: Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA



BANKERS: Royal Bank of Scotland plc
Paisley Chief Office
1 Moncrieff Street
Paisley
PA3 2AW

FIRST FINANCIAL CONSULTING LTD. (REGISTERED NUMBER: SC304033)

BALANCE SHEET
30 JUNE 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,017 2,008

CURRENT ASSETS
Debtors 5 35,290 68,196
Cash at bank and in hand 143,912 135,158
179,202 203,354
CREDITORS
Amounts falling due within one year 6 11,369 22,531
NET CURRENT ASSETS 167,833 180,823
TOTAL ASSETS LESS CURRENT
LIABILITIES

168,850

182,831

PROVISIONS FOR LIABILITIES 7 11 161
NET ASSETS 168,839 182,670

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 168,838 182,669
SHAREHOLDERS' FUNDS 168,839 182,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 4 October 2018 and were signed by:



D J McFetridge - Director


FIRST FINANCIAL CONSULTING LTD. (REGISTERED NUMBER: SC304033)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

1. STATUTORY INFORMATION

First Financial Consulting Limited is a private company, limited by shares, registered in Scotland. The
Company's registered number is SC304033 and registered office address is Abercorn House, 79 Renfrew Road,
Paisley, Renfrewshire, PA3 4DA.

The nature of the Company's operations and its principal activities are that of financial advisory and investment
service.

2. ACCOUNTING POLICIES

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

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary
amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company
has adequate resources to continue in operational existence for the foreseeable future. Thus the directors
continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where
appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending
on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life
cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as
future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a
decision made on possible impairment. Factors taken into consideration in reaching such a decision include the
economic viability and expected future financial performance of the asset and where it is a component of a larger
cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and
the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to
receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria
must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of
the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due;
- the costs incurred can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

FIRST FINANCIAL CONSULTING LTD. (REGISTERED NUMBER: SC304033)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 '
Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are
recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the
instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction
price including transactions costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the
present value of the future receipts discounted at a market rate of interest. Financial assets classified as
receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are
settled, or when the Company transfers the financial asset and substantially all the risks and rewards of
ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the
asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of
the Company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present value of the future
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not
amortised.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks
and other short-term liquid investments with original maturities of three months or less.

FIRST FINANCIAL CONSULTING LTD. (REGISTERED NUMBER: SC304033)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet
date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described
below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after
initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an
asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine
reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable
value does not lead to a revised carrying amount higher than the carrying value had no impairment been
recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's
carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original
effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's
carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at
the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event
occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.

An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable
value does not lead to a revised carrying amount higher than the carrying value had no impairment been
recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2017
and 30 June 2018 7,737 12,002 19,739
DEPRECIATION
At 1 July 2017 6,623 11,108 17,731
Charge for year 147 844 991
At 30 June 2018 6,770 11,952 18,722
NET BOOK VALUE
At 30 June 2018 967 50 1,017
At 30 June 2017 1,114 894 2,008

FIRST FINANCIAL CONSULTING LTD. (REGISTERED NUMBER: SC304033)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 21,333 31,883
Directors' current accounts 4,413 28,310
Tax recoverable 7,784 7,784
Prepayments 1,760 219
35,290 68,196

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Corporation tax 4,890 16,467
Social security and other taxes 524 244
Accrued expenses 5,955 5,820
11,369 22,531

7. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax 11 161

Deferred
tax
£   
Balance at 1 July 2017 161
Profit and loss account (150 )
Balance at 30 June 2018 11

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within debtors is an amount due from D McFetridge amounting to £4,413 (2017 : £28,310).

9. ULTIMATE CONTROLLING PARTY

The company is under the control of the director, David McFetridge, who owns all of the issued share capital of
the company.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FIRST FINANCIAL CONSULTING LTD.

The following reproduces the text of the report prepared for the director in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the
Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of First Financial Consulting Ltd. for the year ended 30 June 2018 which comprise the Statement of
Income and Retained Earnings, Balance Sheet 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of First Financial Consulting Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of First Financial Consulting Ltd. and state those matters that we have agreed to state to the director of First Financial Consulting Ltd. in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that First Financial Consulting Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of First Financial Consulting Ltd.. You consider that First Financial Consulting Ltd. 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 financial statements of First Financial Consulting Ltd.. 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 financial statements.






Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA


4 October 2018