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REGISTERED NUMBER: 04201651 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Finebase Limited

Finebase Limited (Registered number: 04201651)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Finebase Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S Mautner
N Sloam
Mrs N C Craig





REGISTERED OFFICE: 103-104 St Johns Wood Terrace
London
NW8 6PL





REGISTERED NUMBER: 04201651 (England and Wales)





ACCOUNTANTS: David Lloyd & Co
Chartered Accountants
75 Grosvenor Street
Mayfair
London
W1K 3JS

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Finebase Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Finebase Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Finebase Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Finebase Limited and state those matters that we have agreed to state to the Board of Directors of Finebase Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Finebase Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Finebase Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Finebase Limited. You consider that Finebase Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Finebase Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






David Lloyd & Co
Chartered Accountants
75 Grosvenor Street
Mayfair
London
W1K 3JS


24 September 2024

Finebase Limited (Registered number: 04201651)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 59,780 15,746
Investments 6 305,286 305,286
365,066 321,032

CURRENT ASSETS
Debtors 7 150,941 129,874
Cash at bank and in hand 4,469 2,242
155,410 132,116
CREDITORS
Amounts falling due within one year 8 651,368 487,580
NET CURRENT LIABILITIES (495,958 ) (355,464 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(130,892

)

(34,432

)

CREDITORS
Amounts falling due after more than one
year

9

1,312,574

1,178,266
NET LIABILITIES (1,443,466 ) (1,212,698 )

CAPITAL AND RESERVES
Called up share capital 306,296 306,296
Retained earnings (1,749,762 ) (1,518,994 )
SHAREHOLDERS' FUNDS (1,443,466 ) (1,212,698 )

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

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

The directors acknowledge their 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.

Finebase Limited (Registered number: 04201651)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





S Mautner - Director


Finebase Limited (Registered number: 04201651)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Finebase Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Preparation of consolidated financial statements
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Turnover
Turnover represents amounts form commission earned from the sales of properties, recognized on the completion of a sale.

Goodwill
Acquired goodwill is written off in equal instalments over its estimated useful economic life of 20 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.

Land and Buildings - Over the terms of the lease

Plant and Machinery - 25% reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


Finebase Limited (Registered number: 04201651)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
The Directors consider that a going concern basis of accounting remains appropriate despite the negative Balance Sheet. The Company is dependent on the support of its Parent Company, which has indicated that support will be continued and it will not seek repayment of its loan for a period of 12 months after the date these accounts were signed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 586,711
AMORTISATION
At 1 January 2023
and 31 December 2023 586,711
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Finebase Limited (Registered number: 04201651)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 94,378 118,766 213,144
Additions 49,146 - 49,146
At 31 December 2023 143,524 118,766 262,290
DEPRECIATION
At 1 January 2023 94,378 103,020 197,398
Charge for year 4,915 197 5,112
At 31 December 2023 99,293 103,217 202,510
NET BOOK VALUE
At 31 December 2023 44,231 15,549 59,780
At 31 December 2022 - 15,746 15,746

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 305,286
NET BOOK VALUE
At 31 December 2023 305,286
At 31 December 2022 305,286

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 69,737 46,435
Other debtors 81,204 83,439
150,941 129,874

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 5,956
Trade creditors 31,645 37,320
Amounts owed to group undertakings 559,507 301,995
Taxation and social security 27,596 48,970
Other creditors 32,620 93,339
651,368 487,580

Finebase Limited (Registered number: 04201651)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 1,312,574 1,178,266

10. INTER COMPANY INDEBTEDNESS

Finebase Limited owes its subsidiaries 559,506.57 at the Year End. (2022 £301,1995)

Finebase Limited owes £1,312,574 to its Holding Company, Promata Limited. (2022 £1,178,266).

The Loan is due for repayment on 31st December 2024.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party at the balance sheet date was Promata Limited, a company registered in Liechtenstein.