Company Registration No. NI675968 (Northern Ireland)
Finnbridge Limited
Unaudited accounts
for the year ended 31 March 2023
Finnbridge Limited
Unaudited accounts
Contents
Finnbridge Limited
Company Information
for the year ended 31 March 2023
Directors
Paul Catterson
Elaine Catterson
Company Number
NI675968 (Northern Ireland)
Registered Office
139A Kilrea Road
Upperlands
Maghera
BT46 5TA
Northern Ireland
Accountants
Gray + Press Accountants Limited
Unit 4A Channel Wharf
21 Old Channel Road
Belfast
BT3 9DE
Finnbridge Limited
Statement of financial position
as at 31 March 2023
Tangible assets
64,085
80,756
Cash at bank and in hand
72,396
166,934
Creditors: amounts falling due within one year
(38,823)
(34,639)
Net current assets
185,430
279,265
Net assets
249,666
360,172
Called up share capital
250
250
Revaluation reserve
70,354
70,354
Profit and loss account
179,062
289,568
Shareholders' funds
249,666
360,172
For the year ending 31 March 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by
Paul Catterson
Director
Company Registration No. NI675968
Finnbridge Limited
Notes to the Accounts
for the year ended 31 March 2023
Finnbridge Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI675968. The registered office is 139A Kilrea Road, Upperlands, Maghera, BT46 5TA, Northern Ireland.
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:
Plant & machinery
20% Straight Line
Motor vehicles
20% Straight Line
Fixtures & fittings
20% Straight Line
Investments in shares are included at fair value.
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.
Finnbridge Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
78,001
2,058
3,297
83,356
At 31 March 2023
78,001
2,058
3,297
83,356
At 1 April 2022
2,600
-
-
2,600
Charge for the year
15,600
412
659
16,671
At 31 March 2023
18,200
412
659
19,271
At 31 March 2023
59,801
1,646
2,638
64,085
At 31 March 2022
75,401
2,058
3,297
80,756
5
Investments
Subsidiary undertakings
Valuation at 1 April 2022
151
Valuation at 31 March 2023
151
Amounts falling due within one year
Trade debtors
52,000
48,000
Amounts due from group undertakings etc.
99,639
98,337
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
1,041
1,389
Taxes and social security
2,093
1,073
Loans from directors
24,547
23,117
8
Average number of employees
During the year the average number of employees was 5 (2022: 2).