2021-11-01 09273200 2022-10-31 09273200 2021-11-01 2022-10-31 09273200 2021-10-31 09273200 2020-11-01 2021-10-31 09273200 uk-core:WithinOneYear 2021-10-31 09273200 uk-core:WithinOneYear 2022-10-31 09273200 uk-core:ShareCapital 2022-10-31 09273200 uk-core:ShareCapital 2021-10-31 09273200 uk-core:RetainedEarningsAccumulatedLosses 2022-10-31 09273200 uk-core:RetainedEarningsAccumulatedLosses 2021-10-31 09273200 uk-bus:Director1 2021-11-01 2022-10-31 09273200 uk-core:NetGoodwill 2021-11-01 2022-10-31 09273200 uk-core:ToolsEquipment 2021-11-01 2022-10-31 09273200 uk-core:Goodwill 2021-10-31 09273200 uk-core:Goodwill 2022-10-31 iso4217:GBP xbrli:pure 09273200 uk-bus:AuditExemptWithAccountantsReport 2021-11-01 2022-10-31 09273200 uk-bus:FRS102 2021-11-01 2022-10-31 09273200 uk-bus:FullAccounts 2021-11-01 2022-10-31 09273200 uk-bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31
Finescale Models Limited
Registered Number:09273200
For the year ended 31 October 2022
England and Wales
Unaudited Financial Statements
2
Registered Number :
09273200
As at 31 October 2022
Finescale Models Limited
Statement of Financial Position
£
£
2021
2022
Notes
Fixed assets
Property, plant and equipment
8,602
9,709
3
8,602
9,709
Current assets
19,635
Cash and cash equivalents
40,404
40,404
19,635
Trade and other payables: amounts falling due within one
year
(9,814)
(18,586)
4
9,821
21,818
Net current assets
Total assets less current liabilities
30,420
19,530
30,420
Net assets
19,530
Capital and reserves
Called up share capital
100
100
Retained earnings
30,320
19,430
30,420
19,530
Shareholders' funds
For the year ended 31 October 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 of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Darren Beard Director
These financial statements were approved and authorised for issue by the Board on 03 October 2023 and were signed by:
The notes form part of these financial statements
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For the year ended 31 October 2022
Finescale Models Limited
Notes to the Financial Statements
Statutory Information
Finescale Models Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 09273200.
Registered address:
116 Hallowell Down
South Woodham Ferrers
Chelmsford
Essex
CM3 5GZ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of 5 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
15% Reducing balance
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 November 2021
5,000
At 31 October 2022
5,000
Amortisation
At 01 November 2021
5,000
At 31 October 2022
5,000
Net book value
At 31 October 2022
-
At 31 October 2021
-
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4
For the year ended 31 October 2022
Finescale Models Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment
Plant and
machinery
£
Cost or
valuation
At 01 November 2021
18,421
349
Additions
At 31 October 2022
18,770
Provision for depreciation and impairment
At 01 November 2021
8,712
Charge for year
1,456
At 31 October 2022
10,168
At 31 October 2022
Net book value
8,602
At 31 October 2021
9,709
4. Trade and other payables: amounts falling due within one year
2021
2022
£
£
Taxation and social security
5,136
1,633
Accruals and deferred income
736
700
Directors' loan accounts
11,964
6,731
Other creditors
750
750
18,586
9,814
5. Related party transactions
The company is controlled by the Director Darren Beard who holds 100% of the voting rights of the company.
During the period the Director Darren Beard received interim ordinary share dividends in the sum of £10,000 (2021:
£5,000) in respect of his equity shareholding in the company.
6. Average number of persons employed
During the year the average number of employees was 1 (2021 : 1)
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