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REGISTERED NUMBER: 06435595 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 March 2023

for

Fineline Limited

Fineline Limited (Registered number: 06435595)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fineline Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr D Wring





SECRETARY: Mrs K Wring





REGISTERED OFFICE: The Old Quarry
Clevedon Road
Failand
Bristol
Somerset
BS8 3TU





REGISTERED NUMBER: 06435595 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Fineline Limited (Registered number: 06435595)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,434 1,792
Tangible assets 5 1,052,414 712,541
1,053,848 714,333

CURRENT ASSETS
Stocks 19,500 37,500
Debtors 6 332,156 149,966
Cash at bank 199,376 280,924
551,032 468,390
CREDITORS
Amounts falling due within one year 7 466,911 286,054
NET CURRENT ASSETS 84,121 182,336
TOTAL ASSETS LESS CURRENT LIABILITIES 1,137,969 896,669

CREDITORS
Amounts falling due after more than one year 8 (168,433 ) (32,500 )

PROVISIONS FOR LIABILITIES (199,959 ) (123,696 )
NET ASSETS 769,577 740,473

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 12 769,576 740,472
SHAREHOLDERS' FUNDS 769,577 740,473

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Fineline Limited (Registered number: 06435595)

Balance Sheet - continued
31 March 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 18 January 2024 and were signed by:





Mr D Wring - Director


Fineline Limited (Registered number: 06435595)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Fineline 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Fineline Limited (Registered number: 06435595)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 3,000
AMORTISATION
At 1 April 2022 1,208
Charge for year 358
At 31 March 2023 1,566
NET BOOK VALUE
At 31 March 2023 1,434
At 31 March 2022 1,792

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 1,076,780 5,165 71,359 72,489 1,225,793
Additions 482,985 92 - 1,392 484,469
Disposals (1,000 ) - - - (1,000 )
At 31 March 2023 1,558,765 5,257 71,359 73,881 1,709,262
DEPRECIATION
At 1 April 2022 425,750 2,505 40,742 44,255 513,252
Charge for year 130,639 543 7,655 5,759 144,596
Eliminated on disposal (1,000 ) - - - (1,000 )
At 31 March 2023 555,389 3,048 48,397 50,014 656,848
NET BOOK VALUE
At 31 March 2023 1,003,376 2,209 22,962 23,867 1,052,414
At 31 March 2022 651,030 2,660 30,617 28,234 712,541

Fineline Limited (Registered number: 06435595)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 - 19,333 19,333
Additions 478,820 - 478,820
Transfer to ownership - (19,333 ) (19,333 )
At 31 March 2023 478,820 - 478,820
DEPRECIATION
At 1 April 2022 - 14,745 14,745
Transfer to ownership - (14,745 ) (14,745 )
At 31 March 2023 - - -
NET BOOK VALUE
At 31 March 2023 478,820 - 478,820
At 31 March 2022 - 4,588 4,588

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 84,099 30,867
Related Party Loans 118,392 66,467
Tax 52,627 52,627
VAT 74,114 5
Prepayments 2,924 -
332,156 149,966

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Hire purchase contracts (see note 10) 29,187 2,900
Trade creditors 376,967 221,179
Social security and other taxes 1,647 1,499
Other creditors 263 263
Related Party Loans 44,822 44,943
Directors' current accounts 65 1,670
Accrued expenses 3,960 3,600
466,911 286,054

Fineline Limited (Registered number: 06435595)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 9) 22,500 32,500
Hire purchase contracts (see note 10) 145,933 -
168,433 32,500

9. LOANS

A legal charge and loan exists over the freehold properties and assets of the group.

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.23 31.3.22
£    £   
Net obligations repayable:
Within one year 29,187 2,900
Between one and five years 145,933 -
175,120 2,900

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
1 Ordinary 1 1 1

12. RESERVES
Retained
earnings
£   

At 1 April 2022 740,472
Profit for the year 68,904
Dividends (39,800 )
At 31 March 2023 769,576

13. RELATED PARTY DISCLOSURES

At the balance sheet date, entities in which the directors have an interest in are owed £118,392 to the other company (2022 - £66,467 owed to the company) and is held in debtors.

At the balance sheet date, companies under common control are owed £44,822 (2022 - £44,943) by the company and is held with creditors.