6 February 2023 false No description of principal activity Taxfiler 2024.1 14640792business:PrivateLimitedCompanyLtd2023-02-062024-03-31 146407922023-02-05 146407922023-02-062024-03-31 14640792business:AuditExemptWithAccountantsReport2023-02-062024-03-31 14640792business:FilletedAccounts2023-02-062024-03-31 146407922024-03-31 14640792business:Director12023-02-062024-03-31 14640792business:Director22023-02-062024-03-31 14640792business:RegisteredOffice2023-02-062024-03-31 14640792core:WithinOneYear2024-03-31 14640792core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 14640792core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 14640792core:PreviouslyStatedAmount2024-03-31 14640792business:SmallEntities2023-02-062024-03-31 14640792countries:EnglandWales2023-02-062024-03-31 14640792core:PlantMachinery2023-02-062024-03-31 14640792core:MotorVehicles2023-02-062024-03-31 14640792core:PlantMachinery2023-02-05 14640792core:MotorVehicles2023-02-05 14640792core:PlantMachinery2024-03-31 14640792core:MotorVehicles2024-03-31 iso4217:GBP xbrli:pure
Company Registration No. 14640792 (England and Wales)
Finbas Limited Unaudited accounts for the period from 6 February 2023 to 31 March 2024
Finbas Limited Unaudited accounts Contents
Page
- 2 -
Finbas Limited Company Information for the period from 6 February 2023 to 31 March 2024
Directors
Richard Owen Susan Owen
Company Number
14640792 (England and Wales)
Registered Office
7 Cobham Road Bournemouth Dorset BH9 3AR England
Accountants
SH Accounting Solutions Ltd Office 1, 319a Holdenhurst Road Bournemouth BH8 8BT
- 3 -
Finbas Limited Accountants' report
Accountants' report to the board of directors of Finbas Limited (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the period from 6 February 2023 to 31 March 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the period from 6 February 2023 to 31 March 2024. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
SH Accounting Solutions Ltd Office 1, 319a Holdenhurst Road Bournemouth BH8 8BT 30 April 2024
- 4 -
Finbas Limited Statement of financial position as at 31 March 2024
2024 
Notes
£ 
Fixed assets
Tangible assets
8,515 
Current assets
Cash at bank and in hand
9,715 
Creditors: amounts falling due within one year
(6,291)
Net current assets
3,424 
Net assets
11,939 
Capital and reserves
Called up share capital
100 
Profit and loss account
11,839 
Shareholders' funds
11,939 
For the period ending 31 March 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 30 April 2024 and were signed on its behalf by
Richard Owen Director Company Registration No. 14640792
- 5 -
Finbas Limited Notes to the Accounts for the period from 6 February 2023 to 31 March 2024
1
Statutory information
Finbas Limited is a private company, limited by shares, registered in England and Wales, registration number 14640792. The registered office is 7 Cobham Road, Bournemouth, Dorset, BH9 3AR, 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.
3
Accounting policies
These financial statements for the period from 6 February 2023 to 31 March 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 6 February 2023. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line method
Motor vehicles
20% reducing balance method
- 6 -
Finbas Limited Notes to the Accounts for the period from 6 February 2023 to 31 March 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 6 February 2023
- 
- 
- 
Additions
728 
10,500 
11,228 
At 31 March 2024
728 
10,500 
11,228 
Depreciation
Charge for the period
263 
2,450 
2,713 
At 31 March 2024
263 
2,450 
2,713 
Net book value
At 31 March 2024
465 
8,050 
8,515 
5
Creditors: amounts falling due within one year
2024 
£ 
Taxes and social security
6,291 
6
Average number of employees
During the period the average number of employees was 0.
- 7 -