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Company No: 13512948 (England and Wales)

FINN ENVIRONMENTAL HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

FINN ENVIRONMENTAL HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

FINN ENVIRONMENTAL HOLDINGS LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2024
FINN ENVIRONMENTAL HOLDINGS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2024
DIRECTOR Mr F J Read
REGISTERED OFFICE Pkf Francis Clark Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE
England
United Kingdom
BUSINESS ADDRESS Unit 13 Hameldown Road
Exeter Road Industrial Estate
Okehampton
EX20 1UB
COMPANY NUMBER 13512948 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
FINN ENVIRONMENTAL HOLDINGS LIMITED

BALANCE SHEET

As at 31 May 2024
FINN ENVIRONMENTAL HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 85,479 34,172
Investments 4 402,082 402,082
487,561 436,254
Current assets
Debtors 5 24,201 20,329
Cash at bank and in hand 19,438 342
43,639 20,671
Creditors: amounts falling due within one year 6 ( 51,692) ( 48,759)
Net current liabilities (8,053) (28,088)
Total assets less current liabilities 479,508 408,166
Creditors: amounts falling due after more than one year 7 ( 266,666) ( 306,666)
Provision for liabilities ( 21,400) ( 8,500)
Net assets 191,442 93,000
Capital and reserves
Called-up share capital 8 1 1
Profit and loss account 191,441 92,999
Total shareholder's funds 191,442 93,000

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Finn Environmental Holdings Limited (registered number: 13512948) were approved and authorised for issue by the Director on 04 September 2024. They were signed on its behalf by:

Mr F J Read
Director
FINN ENVIRONMENTAL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
FINN ENVIRONMENTAL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Finn Environmental Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House, Peninsula Park, Rydon Lane, Exeter, EX2 7XE, England, United Kingdom.

The principal place of business is Unit 13 Hameldown Road, Exeter Road Industrial Estate, Okehampton, EX20 1UB.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS 102.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Dividend income

Dividend income is recognised when the company's right to receive payment has been established.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Investments
Investments in ordinary or preference shares are measured at fair value through the Statement of Profit and Loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 June 2023 35,005 35,005
Additions 73,819 73,819
At 31 May 2024 108,824 108,824
Accumulated depreciation
At 01 June 2023 833 833
Charge for the financial year 22,512 22,512
At 31 May 2024 23,345 23,345
Net book value
At 31 May 2024 85,479 85,479
At 31 May 2023 34,172 34,172

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 June 2023 402,082
At 31 May 2024 402,082
Carrying value at 31 May 2024 402,082
Carrying value at 31 May 2023 402,082

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.05.2024
Alro Services Ltd Centenary House, Peninsula Park, Rydon Lane ,Exeter, EX2 7XE Alro Services Ltd Ordinary 100.00%

During the financial year the Company received dividends of £120,000 (2023: £120,500) from Alro Services Ltd.

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 23,443 10,460
Prepayments 758 533
VAT recoverable 0 9,336
24,201 20,329

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 7 7
Other loans 40,000 40,000
Accruals 9,418 8,752
Other taxation and social security 2,267 0
51,692 48,759

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 266,666 306,666

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Loan amounts owed by ALRO Services Limited 23,443 10,459

Finn Environmental Holdings Limited is a 100% shareholder in ALRO Services Limited. The loan between them is repayable on demand and no interest is charged.