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 year ended

31 August 2023

First Phones Ltd

Financial Statements

Year ended 31 August 2023

Contents	Page

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	3

First Phones Ltd

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of First Phones Ltd

Year ended 31 August 2023

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 Phones Ltd for the year ended 31 August 2023, which comprise the statement of financial position 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.

CLAY SHAW THOMAS LTD Chartered accountants

2 Oldfield Road Bocam Park Bridgend CF35 5LJ

25 April 2024

First Phones Ltd

Statement of Financial Position

31 August 2023

	2023		2022
Note	£	£	£

Current assets

Debtors	4	100	100
Cash at bank and in hand		1,212	1,256
		-------	-------
		1,312	1,356

Creditors: amounts falling due within one year	5	5,442		6,444
		-------		-------
Net current liabilities			4,130	5,088
			-------	-------
Total assets less current liabilities			( 4,130)	( 5,088)
			-------	-------
Net liabilities			( 4,130)	( 5,088)
			-------	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 4,230)	( 5,188)
	-------	-------
Shareholders deficit	( 4,130)	( 5,088)
	-------	-------

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 Section 1A of 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 income and retained earnings has not been delivered.

For the year ending 31 August 2023 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 year 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 25 April 2024 , 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

Year ended 31 August 2023

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 and has negative assets of £4,130 (2022: £5,088). 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 it is probable the expenses recognised will be recovered.

4. Debtors

	2023	2022
	£	£
Other debtors	100	100
	----	----

5. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	4,291	5,293
Other creditors	1,151	1,151
	-------	-------
	5,442	6,444
	-------	-------

6. Related party transactions

During the year, the company made sales of £70,698 (2022: £55,280) to STS Commercial Limited. At the year end a net balance of £nil (2021: £nil) was due from STS Commercial Limited. STS Commercial Limited is related due to common ownership and directorship.