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Company Registration No. 05693730 (England and Wales)
Finch Freight Ltd Unaudited accounts for the year ended 28 February 2023
Finch Freight Ltd Unaudited accounts Contents
Page
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Finch Freight Ltd Company Information for the year ended 28 February 2023
Director
Jonathan Paul Finch
Company Number
05693730 (England and Wales)
Registered Office
95 Stallington Road Blythe Bridge Stoke-on-Trent Staffordshire ST11 9PD England
Accountants
James Accountancy Services Ltd 3 Waterloo Grove Kidsgrove Stoke-on-Trent Staffordshire ST7 4SY
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Finch Freight Ltd Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
81,650 
90,990 
Current assets
Debtors
8,294 
2,444 
Cash at bank and in hand
17,328 
21,074 
25,622 
23,518 
Creditors: amounts falling due within one year
(11,078)
(11,926)
Net current assets
14,544 
11,592 
Total assets less current liabilities
96,194 
102,582 
Provisions for liabilities
Deferred tax
(15,514)
(17,288)
Net assets
80,680 
85,294 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
80,679 
85,293 
Shareholders' funds
80,680 
85,294 
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 6 November 2023 and were signed on its behalf by
Jonathan Paul Finch Director Company Registration No. 05693730
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Finch Freight Ltd Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Finch Freight Ltd is a private company, limited by shares, registered in England and Wales, registration number 05693730. The registered office is 95 Stallington Road, Blythe Bridge, Stoke-on-Trent, Staffordshire, ST11 9PD, England.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance method.
Motor vehicles
20% reducing balance method
Fixtures & fittings
15% reducing balance method.
Computer equipment
20% reducing balance method
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Finch Freight Ltd Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 March 2022
19,105 
111,164 
6,652 
6,448 
143,369 
Additions
1,066 
- 
- 
1,137 
2,203 
Disposals
- 
- 
- 
(4,509)
(4,509)
At 28 February 2023
20,171 
111,164 
6,652 
3,076 
141,063 
Depreciation
At 1 March 2022
4,605 
42,164 
2,152 
3,458 
52,379 
Charge for the year
3,066 
6,000 
700 
347 
10,113 
On disposals
- 
- 
- 
(3,079)
(3,079)
At 28 February 2023
7,671 
48,164 
2,852 
726 
59,413 
Net book value
At 28 February 2023
12,500 
63,000 
3,800 
2,350 
81,650 
At 28 February 2022
14,500 
69,000 
4,500 
2,990 
90,990 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,294 
2,444 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
3,496 
1,725 
Trade creditors
863 
509 
Taxes and social security
4,963 
9,012 
Loans from directors
1,206 
210 
Accruals
550 
470 
11,078 
11,926 
7
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
15,514 
17,288 
2023 
2022 
£ 
£ 
Provision at start of year
17,288 
16,796 
(Credited)/charged to the profit and loss account
(1,774)
492 
Provision at end of year
15,514 
17,288 
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Finch Freight Ltd Notes to the Accounts for the year ended 28 February 2023
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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