First Stop Direct Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03197191 (England and Wales)

FIRST STOP DIRECT LTD

Unaudited Financial Statements

for the Year Ended 30 September 2017

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

8

DIRECTOR:

J Hutchinson

REGISTERED OFFICE:

Britannia Court

5 Moor Street

WORCESTER

Worcestershire

WR1 3DB

REGISTERED NUMBER:

03197191 (England and Wales)

ACCOUNTANTS:

Haines Watts Worcester Limited

Chartered Certified Accountants

Britannia Court

5 Moor Street

WORCESTER

WR1 3DB

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 Stop Direct Ltd for the year ended 30 September 2017 which comprise the Income

Statement, 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 the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of First Stop Direct Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of First Stop Direct Ltd and state those matters that we have agreed to state to the director of First Stop Direct Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. 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 Stop Direct 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 loss of First Stop Direct Ltd. You consider that First Stop Direct 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 Stop Direct 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.

Haines Watts Worcester Limited

Chartered Certified Accountants

Britannia Court

5 Moor Street

WORCESTER

WR1 3DB

7 June 2018

FIXED ASSETS

Tangible assets

4

13,105

19,600

Investment property

5

750,000

700,000

763,105

719,600

CURRENT ASSETS

Cash at bank

12,741

15,772

CREDITORS

Amounts falling due within one year

6

237,449

240,906

NET CURRENT LIABILITIES

(224,708

)

(225,134

)

TOTAL ASSETS LESS CURRENT LIABILITIES

538,397

494,466

CREDITORS

Amounts falling due after more than one year

7

(5,300

)

(11,072

)

PROVISIONS FOR LIABILITIES

(101,849

)

(361

)

NET ASSETS

431,248

483,033

CAPITAL AND RESERVES

Called up share capital

9

2

2

Revaluation reserve

10

-

472,944

Retained earnings

10

431,246

10,087

SHAREHOLDERS' FUNDS

431,248

483,033

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 Income Statement has not been delivered.

The financial statements were approved by the director on 7 June 2018 and were signed by:

J Hutchinson - Director

1.	STATUTORY INFORMATION

First Stop Direct Ltd 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.

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 as modified by the revaluation of certain assets.

Tangible fixed assets

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

General equipment

-

25% on reducing balance

Motor vehicles

-

20% straight line

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Turnover

Turnover represents rents received in the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

General

Motor

equipment

vehicles

Totals

£

£

£

COST

At 1 October 2016

and 30 September 2017

3,895

32,814

36,709

DEPRECIATION

At 1 October 2016

3,436

13,673

17,109

Charge for year

115

6,380

6,495

At 30 September 2017

3,551

20,053

23,604

NET BOOK VALUE

At 30 September 2017

344

12,761

13,105

At 30 September 2016

459

19,141

19,600

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2016

700,000

Revaluations

50,000

At 30 September 2017

750,000

NET BOOK VALUE

At 30 September 2017

750,000

At 30 September 2016

700,000

The investment property was valued at open market value by the director, Mr J Hutchinson, as at

30 September 2017.

Fair value at 30 September 2017 is represented by:

£

Valuation in 2012

161,665

Valuation in 2008

96,274

Valuation in 2016

150,000

Valuation in 2017

50,000

Cost

292,061

750,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

5,772

4,855

Directors' current accounts

-

21,895

Directors' loan accounts

201,649

203,453

Accruals and deferred income

30,028

10,703

237,449

240,906

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

5,300

11,072

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

11,072

15,927

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 October 2016

10,087

472,944

483,031

Deficit for the year

(2,426

)

(2,426

)

Revaluation in year

(49,359

)

-

(49,359

)

Transfer

472,944

(472,944

)

-

At 30 September 2017

431,246

-

431,246

Included within reserves is distributable reserves of £7,661.

11.	FIRST YEAR ADOPTION

The Company has transitioned to Section 1A "Small Entities" of Financial Reporting Standard 102 from

previously being prepared under the historical cost convention and in accordance with the Financial Reporting

Standards for Smaller Entities (effective January 2015) as at 1st September 2015.

Reconciliation of equity

No transitional adjustments were required.

Reconciliation of profit or loss for the year

No transitional adjustments were required.