Company Registration No. 11640719 (England and Wales)
Finbars of Westbay Ltd
Unaudited accounts
for the year ended 31 October 2023
Finbars of Westbay Ltd
Unaudited accounts
Contents
Finbars of Westbay Ltd
Company Information
for the year ended 31 October 2023
Directors
Toby Boyd
Kate Witherden
Company Number
11640719 (England and Wales)
Registered Office
Sea Road
Westgate-on-Sea
Kent
CT8 8QA
UK
Accountants
Julie Thatcher Bookkeeping & Accountancy
88 Herne Bay Road
Whitstable
Kent
CT5 2LX
Finbars of Westbay Ltd
Statement of financial position
as at 31 October 2023
Tangible assets
221,100
230,650
Cash at bank and in hand
2,225
7,944
Creditors: amounts falling due within one year
(139,062)
(173,946)
Net current liabilities
(130,657)
(161,352)
Total assets less current liabilities
90,443
69,298
Creditors: amounts falling due after more than one year
(53,724)
(65,206)
Called up share capital
100
100
Profit and loss account
36,619
3,992
Shareholders' funds
36,719
4,092
For the year ending 31 October 2023 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 July 2024 and were signed on its behalf by
Kate Witherden
Director
Company Registration No. 11640719
Finbars of Westbay Ltd
Notes to the Accounts
for the year ended 31 October 2023
Finbars of Westbay Ltd is a private company, limited by shares, registered in England and Wales, registration number 11640719. The registered office is Sea Road, Westgate-on-Sea, Kent, CT8 8QA, UK.
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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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
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Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 November 2022
189,994
41,785
17,534
403
249,716
At 31 October 2023
189,994
41,785
18,352
403
250,534
At 1 November 2022
-
10,446
8,388
232
19,066
Charge for the year
-
7,835
2,491
42
10,368
At 31 October 2023
-
18,281
10,879
274
29,434
At 31 October 2023
189,994
23,504
7,473
129
221,100
At 31 October 2022
189,994
31,339
9,146
171
230,650
Finbars of Westbay Ltd
Notes to the Accounts
for the year ended 31 October 2023
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
6,215
6,215
Obligations under finance leases and hire purchase contracts
6,311
6,311
Trade creditors
21,722
58,326
Taxes and social security
14,615
20,312
Other creditors
16,476
14,137
Loans from directors
48,477
47,461
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Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
21,555
27,865
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Average number of employees
During the year the average number of employees was 14 (2022: 9).