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REGISTERED NUMBER: SC414717 (Scotland)
















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Finesse Marquees Ltd

Finesse Marquees Ltd (Registered number: SC414717)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Finesse Marquees Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Mr G Gall
Ms K J Self





REGISTERED OFFICE: 26 Beach Road
Troon
Ayrshire
KA10 6SG





REGISTERED NUMBER: SC414717 (Scotland)






Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Finesse Marquees Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and loss and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Finesse Marquees Ltd for the year ended 31 January 2023 which comprise the Profit and Loss, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Finesse Marquees Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Finesse Marquees Ltd and state those matters that we have agreed to state to the Board of Directors of Finesse Marquees Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Finesse Marquees Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Finesse Marquees Ltd. You consider that Finesse Marquees 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 financial statements of Finesse Marquees 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 financial statements.








10 October 2023

Finesse Marquees Ltd (Registered number: SC414717)

Balance Sheet
31 January 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 92,378 72,409

CURRENT ASSETS
Debtors 5 29,120 31,499
Cash at bank and in hand 492 23,945
29,612 55,444
CREDITORS
Amounts falling due within one year 6 60,854 53,652
NET CURRENT (LIABILITIES)/ASSETS (31,242 ) 1,792
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,136

74,201

CREDITORS
Amounts falling due after more than one
year

7

(25,555

)

(35,000

)

PROVISIONS FOR LIABILITIES (17,436 ) (12,761 )
NET ASSETS 18,145 26,440

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 18,045 26,340
SHAREHOLDERS' FUNDS 18,145 26,440

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

Finesse Marquees Ltd (Registered number: SC414717)

Balance Sheet - continued
31 January 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:




Mr G Gall - Director



Ms K J Self - Director


Finesse Marquees Ltd (Registered number: SC414717)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Finesse Marquees Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

Going concern
The Company relies on both internal and external borrowings to finance day to day working capital requirements. After making the appropriate enquiries the directors are confident that existing facilities will remain in place for the foreseeable future and on that basis and from their knowledge and review of requirements going forward are satisfied that the company is placed to meet its commitments as they fall due. The directors are satisfied that the accounts be prepared on a going concern basis.

Turnover/revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the Company's activities.

Sales are presented, net of value-added tax, rebates and discounts.

The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the Company's activities are met.

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 equipment - 15% on reducing balance
Furniture and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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 balance sheet date.


Finesse Marquees Ltd (Registered number: SC414717)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account over the shorter of estimated useful economic life and the period of the lease.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight line basis over the terms of the lease.

Pension costs and other post-retirement benefits
The company operates a money purchase pension scheme in the form of employee personal pension plans. The contracts are between the individual and the pension provider and all funds are held externally by a third party pension provider. Pension contributions are charged to the profit and loss account in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Finesse Marquees Ltd (Registered number: SC414717)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Furniture
Plant and and Motor
equipment fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2022 112,671 5,068 61,807 179,546
Additions 23,525 - 14,800 38,325
Disposals (4,500 ) - - (4,500 )
At 31 January 2023 131,696 5,068 76,607 213,371
DEPRECIATION
At 1 February 2022 57,785 3,015 46,337 107,137
Charge for year 10,789 308 7,259 18,356
Eliminated on disposal (4,500 ) - - (4,500 )
At 31 January 2023 64,074 3,323 53,596 120,993
NET BOOK VALUE
At 31 January 2023 67,622 1,745 23,011 92,378
At 31 January 2022 54,886 2,053 15,470 72,409

Finesse Marquees Ltd (Registered number: SC414717)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 1,946 -
Other debtors 27,174 31,499
29,120 31,499

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank overdraft 17,440 21,880
Trade creditors 1,465 284
Taxation and social security 5,809 14,890
Other creditors 36,140 16,598
60,854 53,652

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
as restated
£    £   
Bank loans 25,555 35,000

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
as restated
£    £   
Within one year 12,000 -
Between one and five years 13,000 -
25,000 -

Operating lease commitments represent the total payable over the entire period of the lease agreement for the property.

Finesse Marquees Ltd (Registered number: SC414717)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£    £   
Bank overdrafts 7,440 11,880
Bank loans 35,555 45,000
42,995 56,880

Hire purchase creditors are secured over the assets being financed with the addition in certain instances by a personal guarantee from the directors. The bank overdraft is secured by a personal guarantee of the directors.

The bounce back loan is secured and repayable by 60 equal monthly instalments from August 2021.
Interest is chargeable at a commercial rate of interest.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
as restated
£    £   
Mr G Gall and Ms K J Self
Balance outstanding at start of year 24,563 (12,090 )
Amounts advanced 111,619 106,433
Amounts repaid (115,088 ) (69,780 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,094 24,563

The directors' loan account was repaid within 9 months of the year end.

11. ULTIMATE CONTROLLING PARTY

The company is under the control of the Directors' by virtue of their ownership of 100% of the share capital.