1 March 2022 v2023.30.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP111959172022-03-012023-02-28111959172023-02-28111959172022-02-2811195917core:WithinOneYear2023-02-2811195917core:WithinOneYear2022-02-2811195917core:AfterOneYear2023-02-2811195917core:AfterOneYear2022-02-2811195917core:ShareCapital2023-02-2811195917core:ShareCapital2022-02-2811195917core:RetainedEarningsAccumulatedLosses2023-02-2811195917core:RetainedEarningsAccumulatedLosses2022-02-2811195917bus:Director12022-03-012023-02-2811195917bus:RegisteredOffice2022-03-012023-02-2811195917core:MotorVehicles2022-03-012023-02-2811195917core:OfficeEquipment2022-03-012023-02-2811195917core:PlantMachinery2022-03-012023-02-28111959172021-03-012022-02-28111959172022-03-0111195917core:CostValuation2022-03-0111195917core:AdditionsToInvestments2023-02-2811195917core:CostValuation2023-02-281119591712022-03-012023-02-2811195917countries:EnglandWales2022-03-012023-02-2811195917bus:AuditExemptWithAccountantsReport2022-03-012023-02-2811195917bus:PrivateLimitedCompanyLtd2022-03-012023-02-2811195917bus:SmallEntities2022-03-012023-02-2811195917bus:AbridgedAccounts2022-03-012023-02-28
Company registration number:
11195917
FINN MCCOOLS LIMITED
Unaudited Filleted Abridged Financial Statements for the year ended
28 February 2023
FINN MCCOOLS LIMITED
Abridged Statement of Financial Position
28 February 2023
20232022
Note££
Fixed assets    
Intangible assets 5
297,993
 
297,993
 
Tangible assets 5
16,558
 
18,234
 
Investments 5
1,307,710
 
1,064,502
 
1,622,261
 
1,380,729
 
Current assets    
Stocks
6,750
 
6,750
 
Cash at bank and in hand
77,389
 
45,096
 
84,139
 
51,846
 
Creditors: amounts falling due within one year
(144,490
)
(251,187
)
Net current liabilities
(60,351
)
(199,341
)
Total assets less current liabilities 1,561,910   1,181,388  
Creditors: amounts falling due after more than one year
(691,505
)
(524,285
)
Net assets
870,405
 
657,103
 
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Profit and loss account
869,405
 
656,103
 
Shareholders funds
870,405
 
657,103
 
For the year ending
28 February 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position and the abridged income statement for the year ended
28 February 2023
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged 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.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
28 November 2023
, and are signed on behalf of the board by:
Mr. David Philip ROYLE
Director
Company registration number:
11195917
FINN MCCOOLS LIMITED
Notes to the Abridged Financial Statements
Year ended
28 February 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
25 Regent Street
,
Teignmouth
,
TQ14 8SX
, United Kingdom.

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Motor vehicles
25% reducing balance
Office equipment
25% reducing balance
Plant and machinery
25% reducing balance

4 Average number of employees

The average number of persons employed by the company during the year was
10
(2022:
9
).

5 Fixed assets

Intangible assetsTangible assetsInvestmentsTotal
££££
Cost        
At
1 March 2022
297,993
 
51,122
 
1,064,502
  1,413,617  
Additions -  
3,843
 
243,208
  247,051  
At
28 February 2023
297,993
 
54,965
 
1,307,710
  1,660,668  
Amortisation, depreciation and impairment        
At
1 March 2022
-  
32,888
  -   32,888  
Charge -  
5,519
  -   5,519  
At
28 February 2023
-  
38,407
  -   38,407  
Carrying amount        
At
28 February 2023
297,993
 
16,558
 
1,307,710
 
1,622,261
 
At 28 February 2022
297,993
 
18,234
 
1,064,502
 
1,380,729