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Registered number: 12762517









FINDERS INTERNATIONAL ESTATE AGENTS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
FINDERS INTERNATIONAL ESTATE AGENTS LIMITED
REGISTERED NUMBER: 12762517

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
764,429
560,595

Cash at bank and in hand
 5 
191,958
131,105

  
956,387
691,700

Creditors: amounts falling due within one year
 6 
(652,152)
(561,418)

Net current assets
  
 
 
304,235
 
 
130,282

Total assets less current liabilities
  
304,235
130,282

  

Net assets
  
304,235
130,282


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
304,234
130,281

  
304,235
130,282


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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 September 2023.




D W Curran
Director

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
FINDERS INTERNATIONAL ESTATE AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Finders International Estate Agents Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ground Floor, 6-8 Vestry Street, London, N1 7RE. 
The principal activity of the company is that of estate agents.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Finders International Holdings Limited as at 31 January 2023 and these financial statements may be obtained from companies house.

Page 2

 
FINDERS INTERNATIONAL ESTATE AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
FINDERS INTERNATIONAL ESTATE AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument 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 ordinary shares.


3.


Employees

The average montly number of employees, including the director, during the year was 6 (2022 - 5).



4.


Debtors

2023
2022
£
£


Trade debtors
667,584
509,113

Other debtors
81,922
44,768

Prepayments and accrued income
14,923
6,714

764,429
560,595



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
191,958
131,105


Page 4

 
FINDERS INTERNATIONAL ESTATE AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
17,868
9,650

Amounts owed to group undertakings
461,175
410,700

Corporation tax
41,873
22,837

Other taxation and social security
17,031
17,257

Other creditors
899
4,500

Accruals and deferred income
113,306
96,474

652,152
561,418



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



8.


Reserves

Profit and loss account

The profit and loss account consists of distributable reserves arising from cumulative historical profits and
losses net of dividends or other adjustments.


9.


Pension commitments

The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost represents contributions payable by the Company to the fund and amounted to £3,301 (2022 - £Nil). The outstanding liability at the year end was £899 (2022 - £Nil).


10.


Controlling party

The ultimate parent company is Finders International Holdings Limited. The company is included in the consolidated accounts prepared by Finders International Holdings Limited, and copies of those accounts can be obtained from the Companies House. 
Subsequent to the year end, a group reorganisation took place resulting in Finders International Holdings Limited no longer being the company’s ultimate parent company. Finders Holdings Limited is now considered to be the company’s ultimate parent undertaking.
D W Curran is considered to be the ultimate controlling party. 

Page 5

 
FINDERS INTERNATIONAL ESTATE AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 January 2023 was unqualified.

The audit report was signed on 28 September 2023 by Adam Dodds (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 6