First Phones Ltd Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 10941066

First Phones Ltd

Filleted Unaudited Financial Statements

For the period ended

31 August 2018

First Phones Ltd

Financial Statements

Period ended 31 August 2018

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

First Phones Ltd

Statement of Financial Position

31 August 2018

	2018
Note	£	£

Current assets

Debtors	4	100
Cash at bank and in hand		367
		----
		467

Creditors: amounts falling due within one year	5	3,639
		-------
Net current liabilities			3,172
			-------
Total assets less current liabilities			( 3,172)
			-------
Net liabilities			( 3,172)
			-------

Capital and reserves

Called up share capital		100
Profit and loss account		( 3,272)
		-------
Shareholders deficit		( 3,172)
		-------

These 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 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 comprehensive income has not been delivered.

For the period ending 31 August 2018 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 financial statements for the period in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 21 May 2019 , and are signed on behalf of the board by:

Mr W E Sinclair

Director

Company registration number: 10941066

First Phones Ltd

Notes to the Financial Statements

Period ended 31 August 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8a Dunraven Place, Bridgend, CF31 1JD, Wales.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The Company has made a loss during its first period of trade and has negative assets of £3,172. However, the directors are of the opinion that the company will trade out of this position and become profitable in the future. Therefore these accounts are prepared on a going concern basis.

Revenue recognition

Turnover is measured on amounts receivable for services rendered during the period, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

4. Debtors

	2018
	£
Other debtors	100
	----

5. Creditors: amounts falling due within one year

	2018
	£
Trade creditors	2,544
Other creditors	1,095
	-------
	3,639
	-------

6. Related party transactions

During the period, the company made sales of £21,438 to STS Commercial Limited. At the period end a net balance of £nil was due from STS Commercial Limited. STS Commercial Limited is related due to common ownership and directorship.

7. Controlling party

The directors are of the opinion there is no ultimate controlling party.

8. Incorporation

The company incorporated on 31 August 2017 and commenced trading on 23 March 2018. The figures therefore show the results of trading for a 5 month period.