3 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 4,403 2,652 513 3,165 1,238 1,751 xbrli:pure xbrli:shares iso4217:GBP 06423469 2022-12-01 2023-11-30 06423469 2023-11-30 06423469 2022-11-30 06423469 2021-12-01 2022-11-30 06423469 2022-11-30 06423469 2021-11-30 06423469 bus:Director1 2022-12-01 2023-11-30 06423469 core:WithinOneYear 2023-11-30 06423469 core:WithinOneYear 2022-11-30 06423469 core:AfterOneYear 2023-11-30 06423469 core:ShareCapital 2023-11-30 06423469 core:ShareCapital 2022-11-30 06423469 core:RetainedEarningsAccumulatedLosses 2023-11-30 06423469 core:RetainedEarningsAccumulatedLosses 2022-11-30 06423469 bus:SmallEntities 2022-12-01 2023-11-30 06423469 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 06423469 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 06423469 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 06423469 bus:FullAccounts 2022-12-01 2023-11-30 06423469 core:ComputerEquipment 2023-11-30 06423469 core:ComputerEquipment 2022-11-30 06423469 core:ComputerEquipment 2022-12-01 2023-11-30
COMPANY REGISTRATION NUMBER: 06423469
FINTON CONSTRUCTION LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2023
FINTON CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
1,238
1,751
CURRENT ASSETS
Debtors
6
16,039
69,104
Cash at bank and in hand
16,409
14,308
--------
--------
32,448
83,412
CREDITORS: amounts falling due within one year
7
76,652
155,756
--------
---------
NET CURRENT LIABILITIES
44,204
72,344
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 42,966)
( 70,593)
CREDITORS: amounts falling due after more than one year
8
14,080
--------
--------
NET LIABILITIES
( 57,046)
( 70,593)
--------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Profit and loss account
( 57,146)
( 70,693)
--------
--------
SHAREHOLDERS DEFICIT
( 57,046)
( 70,593)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
FINTON CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 11 July 2024 , and are signed on behalf of the board by:
Mr P G Goodman
Director
Company registration number: 06423469
FINTON CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 262 Rockingham Road, Kettering, Northants, NN16 9AN.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the directors and creditors. On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer Equipment
-
15% reducing balance and 33 1/3% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. TANGIBLE ASSETS
Computer equipment
£
Cost
At 1 December 2022 and 30 November 2023
4,403
-------
Depreciation
At 1 December 2022
2,652
Charge for the year
513
-------
At 30 November 2023
3,165
-------
Carrying amount
At 30 November 2023
1,238
-------
At 30 November 2022
1,751
-------
6. DEBTORS
2023
2022
£
£
Trade debtors
15,679
68,744
Other debtors
360
360
--------
--------
16,039
69,104
--------
--------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,640
18,614
Trade creditors
19,109
78,734
Corporation tax
38,310
44,539
Social security and other taxes
5,739
1,742
Other creditors
10,854
12,127
--------
---------
76,652
155,756
--------
---------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
14,080
--------
----
9. GOING CONCERN
The directors have considered the period to 31 July 2025 when assessing the company's ability to continue as a going concern. It is believed that the company will either be able to satisfy its liabilities as these become payable, or alternatively will be sold as a going concern.