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REGISTERED NUMBER: 10926692 (England and Wales)















FINERANCH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 AUGUST 2023






FINERANCH LIMITED (REGISTERED NUMBER: 10926692)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FINERANCH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: Mrs A Butterfield





REGISTERED OFFICE: 8 Church Green East
Redditch
Worcestershire
B98 8BP





REGISTERED NUMBER: 10926692 (England and Wales)





ACCOUNTANTS: Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

FINERANCH LIMITED (REGISTERED NUMBER: 10926692)

BALANCE SHEET
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,458,912 1,566,868
Investments 5 100 -
1,459,012 1,566,868

CURRENT ASSETS
Debtors 6 26,706 31,806
Cash at bank 23,465 16,873
50,171 48,679
CREDITORS
Amounts falling due within one year 7 1,194,454 1,656,514
NET CURRENT LIABILITIES (1,144,283 ) (1,607,835 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

314,729

(40,967

)

CREDITORS
Amounts falling due after more than one year 8 (712,574 ) (191,835 )

PROVISIONS FOR LIABILITIES (11,759 ) (234,565 )
NET LIABILITIES (409,604 ) (467,367 )

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 10,125 -
Retained earnings (419,829 ) (467,467 )
(409,604 ) (467,367 )

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

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

The director acknowledges her 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.

FINERANCH LIMITED (REGISTERED NUMBER: 10926692)

BALANCE SHEET - continued
31 AUGUST 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 Income Statement has not been delivered.

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





Mrs A Butterfield - Director


FINERANCH LIMITED (REGISTERED NUMBER: 10926692)

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


1. STATUTORY INFORMATION

Fineranch 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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

FINERANCH LIMITED (REGISTERED NUMBER: 10926692)

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


4. TANGIBLE FIXED ASSETS
Freehold Long Plant and Motor
prop leasehold machinery vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 September 2022 1,000,053 89,099 737,889 56,000 1,883,041
Additions 300,920 - 42,682 - 343,602
Disposals - - (737,889 ) - (737,889 )
Reclassification/transfer (124,500 ) 124,500 - - -
At 31 August 2023 1,176,473 213,599 42,682 56,000 1,488,754
DEPRECIATION
At 1 September 2022 - - 295,181 20,992 316,173
Charge for year - - 1,848 7,002 8,850
Eliminated on disposal - - (295,181 ) - (295,181 )
At 31 August 2023 - - 1,848 27,994 29,842
NET BOOK VALUE
At 31 August 2023 1,176,473 213,599 40,834 28,006 1,458,912
At 31 August 2022 1,000,053 89,099 442,708 35,008 1,566,868

Cost or valuation at 31 August 2023 is represented by:

Freehold Long Plant and Motor
prop leasehold machinery vehicles Totals
£    £    £    £    £   
Valuation in 2019 12,500 - - - 12,500
Cost 1,163,973 213,599 42,682 56,000 1,476,254
1,176,473 213,599 42,682 56,000 1,488,754

If Freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.8.23 31.8.22
£    £   
Cost 1,163,973 -

Value of land in freehold land and buildings 80,000 -

Freehold land and buildings were valued on an open market basis on 31 August 2023 by the director .

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 100
At 31 August 2023 100
NET BOOK VALUE
At 31 August 2023 100

FINERANCH LIMITED (REGISTERED NUMBER: 10926692)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 2,000 -
Other debtors 24,706 31,806
26,706 31,806

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 43,183 445,745
Amounts owed to group undertakings 100 -
Amounts owed to participating interests - 289,798
Taxation and social security 55,312 62,383
Other creditors 1,095,859 858,588
1,194,454 1,656,514

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans - 191,835
Other creditors 712,574 -
712,574 191,835

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other Loans - 191,835

Repayable by instalments
Other loans more 5yrs instal 712,574 -

FINERANCH LIMITED (REGISTERED NUMBER: 10926692)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Other loans 712,574 -

On 1 August 2018 a legal charge was created over the leasehold property Flat 8, Aesops Court, 31 Valley Road Coventry CV2 3 JE in favour of Paragon Bank PLC.

On 1 August 2018 a floating charge was created over all assets of the company in favour of Paragon Bank PLC and Paragon Mortgages (2010) Limited.

On 18 April 2019 a legal charge was created over the property 233 Birmingham Road, Stratford Upon Avon, Warwickshire, CV37 0AP in favour of Paragon Bank PLC.

On 26 July 2019 a legal charge was created over the property 295 Horrell Road, Birmingham, West Midlands, B26 3AH in favour of Paragon Bank PLC.

On 2 August 2019 a legal charge was created over the property 52 North Street, Brierley Hill, West Midlands, DY5 3SJ in favour of Paragon Bank PLC.

On 1 July 2021 a fixed charge was created over the property Station House, Clee Hill Road, Burford, Tenbury Wells, WR15 8HB in favour of Together Commercial Finance Limited.

On 1 July 2021 a fixed and floating charge was created over all property or undertaking of the company in favour of Together Commercial Finance Limited.

On 16 December 2022 a legal charge was created over the freehold land at Hanley William WR15 8QT, and the freehold land at Neigh Lane, Cropthorne, Pershore in favour of UKAL NO3 Limited.

On 16 December 2022 a fixed and floating charge was created over all property or undertaking of the company in favour of UKAL NO3 Limited.

10. RESERVES
Fair
value
reserve
£   
Transfer of reserves 10,125

At 31 August 2023 10,125