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REGISTERED NUMBER: 04367003 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

FINAL TOUCH PROCESSING LIMITED

FINAL TOUCH PROCESSING LIMITED (REGISTERED NUMBER: 04367003)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FINAL TOUCH PROCESSING LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTORS: I O Hakki
J.Y. Hakki





SECRETARY: J.Y. Hakki





REGISTERED OFFICE: Langley House
Park Road
London
N2 8EY





REGISTERED NUMBER: 04367003 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY

FINAL TOUCH PROCESSING LIMITED (REGISTERED NUMBER: 04367003)

STATEMENT OF FINANCIAL POSITION
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 211 287
Investments 5 - 72,600
211 72,887

CURRENT ASSETS
Debtors 6 293,267 196,672
Cash at bank 72,690 94,027
365,957 290,699
CREDITORS
Amounts falling due within one year 7 61,313 42,634
NET CURRENT ASSETS 304,644 248,065
TOTAL ASSETS LESS CURRENT
LIABILITIES

304,855

320,952

CREDITORS
Amounts falling due after more than one
year

8

(24,718

)

(34,837

)

PROVISIONS FOR LIABILITIES - (55 )
NET ASSETS 280,137 286,060

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 280,131 286,054
SHAREHOLDERS' FUNDS 280,137 286,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

FINAL TOUCH PROCESSING LIMITED (REGISTERED NUMBER: 04367003)

STATEMENT OF FINANCIAL POSITION - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2023 and were signed on its behalf by:





J.Y. Hakki - Director


FINAL TOUCH PROCESSING LIMITED (REGISTERED NUMBER: 04367003)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Final Touch Processing Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised once the service has been provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 20% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

FINAL TOUCH PROCESSING LIMITED (REGISTERED NUMBER: 04367003)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Listed investments
Listed investments are revalued annually and included within the accounts at fair value in accordance with FRS 102 Section 1A. The surplus or deficit on the fair value adjustment is transferred to a fair value reserve except where the deficit reduces the investments below their historical cost, in which case it is taken to the profit and loss account.

Impairment of assets
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 9,132
DEPRECIATION
At 1 March 2022 8,845
Charge for year 76
At 28 February 2023 8,921
NET BOOK VALUE
At 28 February 2023 211
At 28 February 2022 287

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2022 72,600
Disposals (70,000 )
Impairments (2,600 )
At 28 February 2023 -
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 72,600

FINAL TOUCH PROCESSING LIMITED (REGISTERED NUMBER: 04367003)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 293,267 196,672

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 9,924 9,646
Payments on account 18,279 -
Trade creditors 344 283
Taxation and social security 31,766 31,705
Other creditors 1,000 1,000
61,313 42,634

Included within other creditors are accrued expenses of £1,000 (2022: £1,000)

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 24,718 34,837

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
I O Hakki
Balance outstanding at start of year 12,660 16,411
Amounts advanced 253 249
Amounts repaid (4,000 ) (4,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,913 12,660

J.Y. Hakki
Balance outstanding at start of year 79,170 134,617
Amounts advanced 16,463 81,494
Amounts repaid (19,000 ) (136,941 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 76,633 79,170

Included within the amount advanced is interest of £253 and £1,503 charged at HMRC prescribed rate on the outstanding loan balance. The overdrawn loan balance is repayable on demand and personally guaranteed by the directors.