Company Registration No. 10266590 (England and Wales)
Finchcocks Ltd
Unaudited accounts
for the year ended 31 December 2022
Finchcocks Ltd
Unaudited accounts
Contents
Finchcocks Ltd
Company Information
for the year ended 31 December 2022
Company Number
10266590 (England and Wales)
Registered Office
A and L Suite 1-3 Hop Exchange
24 Southwark Street
London
SE1 1TY
England
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
Finchcocks Ltd
Accountants' report
Accountants' report to the director of Finchcocks Ltd on the preparation of the unaudited statutory accounts for the year ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Finchcocks Ltd for the year ended
31 December 2022 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Finchcocks Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Finchcocks Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Finchcocks Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Finchcocks Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Finchcocks Ltd. You consider that Finchcocks 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 accounts of Finchcocks 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 accounts.
Accounts and Legal Consultants Ltd
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
29 September 2023
Finchcocks Ltd
Statement of financial position
as at 31 December 2022
Tangible assets
1,063,021
1,075,138
Cash at bank and in hand
2,359
4,781
Creditors: amounts falling due within one year
(21,272)
(37,215)
Net current assets
164,540
314,234
Total assets less current liabilities
1,227,561
1,389,372
Creditors: amounts falling due after more than one year
(1,166,569)
(1,288,579)
Called up share capital
1
1
Profit and loss account
60,991
100,792
Shareholders' funds
60,992
100,793
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2023 and were signed on its behalf by
Neil Nichols
Director
Company Registration No. 10266590
Finchcocks Ltd
Notes to the Accounts
for the year ended 31 December 2022
Finchcocks Ltd is a private company, limited by shares, registered in England and Wales, registration number 10266590. The registered office is A and L Suite 1-3 Hop Exchange, 24 Southwark Street, London, SE1 1TY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% Straight Line
Plant & machinery
5% Straight Line
Motor vehicles
20% Straight Line
Fixtures & fittings
10% Straight Line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Finchcocks Ltd
Notes to the Accounts
for the year ended 31 December 2022
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2022
755,418
357,044
28,965
104,187
1,245,614
Additions
-
37,757
-
450
38,207
At 31 December 2022
755,418
394,801
28,965
104,637
1,283,821
At 1 January 2022
86,717
47,700
1,448
34,611
170,476
Charge for the year
15,108
18,978
5,793
10,445
50,324
At 31 December 2022
101,825
66,678
7,241
45,056
220,800
At 31 December 2022
653,593
328,123
21,724
59,581
1,063,021
At 31 December 2021
668,701
309,344
27,517
69,576
1,075,138
Amounts falling due within one year
Trade debtors
47,395
44,130
Deferred tax asset
136,058
125,491
Amounts falling due after more than one year
Amounts due from group undertakings etc.
-
177,047
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
12,361
31,933
7
Creditors: amounts falling due after more than one year
2022
2021
Loans from directors
1,166,569
1,288,579
8
Transactions with related parties
At the balance sheet date £1,166,569 (2020: £1,288,579) within creditors is an interest free loan from a shareholder which is expected to be paid steadily over a 10 year term.
9
Average number of employees
During the year the average number of employees was 1 (2021: 1).