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FINCAL DESIGN AND ENGINEERING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






FINCAL DESIGN AND ENGINEERING LIMITED (REGISTERED NUMBER: 07640058)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FINCAL DESIGN AND ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: S F Purcell





REGISTERED OFFICE: Weatherroyd
Sheriff Lane
Eldwick
Bingley
West Yorkshire
BD16 3EN





REGISTERED NUMBER: 07640058 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

FINCAL DESIGN AND ENGINEERING LIMITED (REGISTERED NUMBER: 07640058)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 895 1,273

CURRENT ASSETS
Debtors 5 15,088 19,726
Cash at bank 1,215 3,444
16,303 23,170
CREDITORS
Amounts falling due within one year 6 16,564 23,728
NET CURRENT LIABILITIES (261 ) (558 )
TOTAL ASSETS LESS CURRENT LIABILITIES 634 715

PROVISIONS FOR LIABILITIES 7 152 219
NET ASSETS 482 496

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 481 495
SHAREHOLDERS' FUNDS 482 496

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FINCAL DESIGN AND ENGINEERING LIMITED (REGISTERED NUMBER: 07640058)

BALANCE SHEET - continued
31 MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 February 2024 and were signed by:





S F Purcell - Director


FINCAL DESIGN AND ENGINEERING LIMITED (REGISTERED NUMBER: 07640058)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Fincal Design and Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

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

FINCAL DESIGN AND ENGINEERING LIMITED (REGISTERED NUMBER: 07640058)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 882 7,538 8,420
DEPRECIATION
At 1 June 2022 653 6,494 7,147
Charge for year 34 344 378
At 31 May 2023 687 6,838 7,525
NET BOOK VALUE
At 31 May 2023 195 700 895
At 31 May 2022 229 1,044 1,273

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 2,538 2,322
Directors' current accounts 8,191 13,375
Tax 4,359 4,029
15,088 19,726

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 216 2,076
Tax 13,098 12,487
VAT 1,930 7,905
Accrued expenses 1,320 1,260
16,564 23,728

7. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 152 219

FINCAL DESIGN AND ENGINEERING LIMITED (REGISTERED NUMBER: 07640058)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 219
Accelerated capital allowances (67 )
Balance at 31 May 2023 152

The entire provision for deferred taxation relates to accelerated capital allowances.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
1 Ordinary £1.00 1 1

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
S F Purcell
Balance outstanding at start of year 13,375 12,302
Amounts advanced 60,171 67,191
Amounts repaid (65,355 ) (66,118 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,191 13,375

The loan is interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

Mr S Purcell has a beneficial interest in the entire issued share capital and therefore controls the company.