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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
Page
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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
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Finbars of Westbay Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
221,100 
230,650 
Current assets
Inventories
6,180 
4,650 
Cash at bank and in hand
2,225 
7,944 
8,405 
12,594 
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)
Net assets
36,719 
4,092 
Capital and reserves
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
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Finbars of Westbay Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
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.
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
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.
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:
4
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 
Additions
- 
- 
818 
- 
818 
At 31 October 2023
189,994 
41,785 
18,352 
403 
250,534 
Depreciation
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 
Net book value
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 
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Finbars of Westbay Ltd Notes to the Accounts for the year ended 31 October 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
6,215 
6,215 
VAT
25,246 
21,184 
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 
139,062 
173,946 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
32,169 
37,341 
Obligations under finance leases and hire purchase contracts
21,555 
27,865 
53,724 
65,206 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 14 (2022: 9).
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