REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
FINROB LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
FINROB LIMITED |
FINROB LIMITED (REGISTERED NUMBER: 07407273) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
Page |
Company information | 1 |
Statement of financial position | 2 |
Notes to the financial statements | 3 |
FINROB LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
415 Blackburn Road |
Bolton |
BL1 8NJ |
FINROB LIMITED (REGISTERED NUMBER: 07407273) |
STATEMENT OF FINANCIAL POSITION |
31 JULY 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
FINROB LIMITED (REGISTERED NUMBER: 07407273) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
1. | BACKGROUND INFORMATION |
Finrob Limited is a private company, limited by shares, registered in England & Wales. |
The company's registered number is 07407273 and registered office address is 46, Fountain Street, Manchester M2 2BE. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements haver been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 (FRS 102) "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention. |
The presentation currency of the financial statements is the Pound Sterling (£). |
Going concern |
The director has reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future and therefore continues to adopt the going concern basis of accounting in preparing the annual financial statements. |
Significant judgements and estimates |
The preparation of the financial statements requires the director to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. However the nature of estimation means the actual results could differ from those estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. |
Turnover |
Turnover is derived from ordinary activities and is measured at the fair value of the consideration received or receivable for services provided in the year and is stated net of discounts, rebates and value added tax. |
Revenue recognition occurs in the period in which services are rendered by reference to the stage of completion of the work, where the costs incurred and costs to complete can be reliably estimated. Where the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is deemed recoverable for the work done. Unbilled revenue as estimated for individual clients is recognised within debtors. This was previously denoted as work in progress. |
Tangible fixed assets |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any provision for impairment. The cost of tangible fixed assets includes only expenditure incurred in bringing the assets into working condition for their intended use. Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
Plant and machinery | - 50% on cost |
The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of significant change since the last reporting date. |
Taxation |
Tax is recognised in the profit and loss account, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income or equity. |
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date |
FINROB LIMITED (REGISTERED NUMBER: 07407273) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
During the year the company maintained an interest free loan account, without any fixed repayment terms, with NCP Bird, a director of the company. The balance due to him at 31 July 2023 was £2,452 (31 July 2022: £1,295). |