IRIS Accounts Production v24.2.0.383 03762259 director 1.9.22 31.8.23 31.8.23 false true false false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037622592022-08-31037622592023-08-31037622592022-09-012023-08-31037622592021-08-31037622592021-09-012022-08-31037622592022-08-3103762259ns15:EnglandWales2022-09-012023-08-3103762259ns14:PoundSterling2022-09-012023-08-3103762259ns10:Director12022-09-012023-08-3103762259ns10:PrivateLimitedCompanyLtd2022-09-012023-08-3103762259ns10:SmallEntities2022-09-012023-08-3103762259ns10:AuditExempt-NoAccountantsReport2022-09-012023-08-3103762259ns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3103762259ns10:SmallCompaniesRegimeForAccounts2022-09-012023-08-3103762259ns10:FullAccounts2022-09-012023-08-310376225912022-09-012023-08-3103762259ns10:CompanySecretary12022-09-012023-08-3103762259ns10:RegisteredOffice2022-09-012023-08-3103762259ns5:CurrentFinancialInstruments2023-08-3103762259ns5:CurrentFinancialInstruments2022-08-3103762259ns5:Non-currentFinancialInstruments2023-08-3103762259ns5:Non-currentFinancialInstruments2022-08-3103762259ns5:ShareCapital2023-08-3103762259ns5:ShareCapital2022-08-3103762259ns5:FurtherSpecificReserve3ComponentTotalEquity2023-08-3103762259ns5:FurtherSpecificReserve3ComponentTotalEquity2022-08-3103762259ns5:RetainedEarningsAccumulatedLosses2023-08-3103762259ns5:RetainedEarningsAccumulatedLosses2022-08-3103762259ns5:NetGoodwill2022-09-012023-08-3103762259ns5:IntangibleAssetsOtherThanGoodwill2022-09-012023-08-3103762259ns5:FurnitureFittings2022-09-012023-08-3103762259ns5:MotorVehicles2022-09-012023-08-3103762259ns5:ComputerEquipment2022-09-012023-08-3103762259ns5:NetGoodwill2022-08-3103762259ns5:NetGoodwill2023-08-3103762259ns5:NetGoodwill2022-08-3103762259ns5:FurnitureFittings2022-08-3103762259ns5:MotorVehicles2022-08-3103762259ns5:ComputerEquipment2022-08-3103762259ns5:FurnitureFittings2023-08-3103762259ns5:MotorVehicles2023-08-3103762259ns5:ComputerEquipment2023-08-3103762259ns5:FurnitureFittings2022-08-3103762259ns5:MotorVehicles2022-08-3103762259ns5:ComputerEquipment2022-08-3103762259ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3103762259ns5:WithinOneYearns5:CurrentFinancialInstruments2022-08-3103762259ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-08-3103762259ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2022-08-3103762259ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-08-3103762259ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-08-3103762259ns5:Secured2023-08-3103762259ns5:Secured2022-08-31
REGISTERED NUMBER: 03762259 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

H J FINCH & CO LIMITED

H J FINCH & CO LIMITED (REGISTERED NUMBER: 03762259)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


H J FINCH & CO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: M R Henrick





SECRETARY: M R Henrick





REGISTERED OFFICE: 32 Albion Street
Birmingham
West Midlands
B1 3EP





REGISTERED NUMBER: 03762259 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
5 Argosy Court
Scimitar Way
Whitley Business Park
Coventry
CV3 4GA

H J FINCH & CO LIMITED (REGISTERED NUMBER: 03762259)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 3,832 4,062
Investment property 5 675,000 650,000
678,832 654,062

CURRENT ASSETS
Stocks 18,000 53,000
Debtors 6 - 1,935
18,000 54,935
CREDITORS
Amounts falling due within one year 7 391,467 194,366
NET CURRENT LIABILITIES (373,467 ) (139,431 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

305,365

514,631

CREDITORS
Amounts falling due after more than one
year

8

-

(160,714

)

PROVISIONS FOR LIABILITIES (31,205 ) (34,867 )
NET ASSETS 274,160 319,050

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserves 129,928 101,554
Retained earnings 144,132 217,396
274,160 319,050

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

H J FINCH & CO LIMITED (REGISTERED NUMBER: 03762259)

BALANCE SHEET - continued
31 AUGUST 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 September 2024 and were signed by:





M R Henrick - Director


H J FINCH & CO LIMITED (REGISTERED NUMBER: 03762259)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

H J FINCH & CO LIMITED (REGISTERED NUMBER: 03762259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 1,000
AMORTISATION
At 1 September 2022
and 31 August 2023 1,000
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2022 38,317 1,083 2,767 42,167
Additions - - 1,498 1,498
At 31 August 2023 38,317 1,083 4,265 43,665
DEPRECIATION
At 1 September 2022 35,890 741 1,474 38,105
Charge for year 364 85 1,279 1,728
At 31 August 2023 36,254 826 2,753 39,833
NET BOOK VALUE
At 31 August 2023 2,063 257 1,512 3,832
At 31 August 2022 2,427 342 1,293 4,062

H J FINCH & CO LIMITED (REGISTERED NUMBER: 03762259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 650,000
Revaluations 25,000
At 31 August 2023 675,000
NET BOOK VALUE
At 31 August 2023 675,000
At 31 August 2022 650,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2016 135,405
Valuation in 2023 25,000
Cost 514,595
675,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments - 1,935

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 57,758 395,896
Trade creditors 5,180 5,537
Taxation and social security 102,458 107,790
Other creditors 226,071 (314,857 )
391,467 194,366

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) - 160,714

H J FINCH & CO LIMITED (REGISTERED NUMBER: 03762259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 57,758 46,708
Bank loans - 349,188
57,758 395,896

Amounts falling due between one and two years:
Bank loans - 1-2 years - 52,512

Amounts falling due between two and five years:
Bank loans - 2-5 years - 108,202

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 57,758 46,708
Bank loans - 509,902
57,758 556,610

Bank loans and overdrafts are secured through a charge and debenture on 35-36 Albion Street and the present and future assets of the company.