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
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
Finch Freight Ltd
Statement of financial position
as at 28 February 2023
Tangible assets
81,650
90,990
Cash at bank and in hand
17,328
21,074
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)
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
Finch Freight Ltd
Notes to the Accounts
for the year ended 28 February 2023
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.
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.
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 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 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.
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.
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
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
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
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
4,963
9,012
Loans from directors
1,206
210
7
Deferred taxation
2023
2022
Accelerated capital allowances
15,514
17,288
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
Finch Freight Ltd
Notes to the Accounts
for the year ended 28 February 2023
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).