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REGISTERED NUMBER: 03022747 (England and Wales)















Finesse Windows & Conservatories
(Southern) Limited

Unaudited Financial Statements for the Year Ended 31 January 2024






Finesse Windows & Conservatories
(Southern) Limited (Registered number: 03022747)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Finesse Windows & Conservatories
(Southern) Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: K Field
Mrs L M P Field





REGISTERED OFFICE: 1 High Street
Sheerness
Kent
ME12 1NY





BUSINESS ADDRESS: Prospect House
Broad Street
Sheerness
Kent
ME12 1PY





REGISTERED NUMBER: 03022747 (England and Wales)





ACCOUNTANTS: Foreman Waller
Chartered Accountants
1 High Street
Sheerness
Kent
ME12 1NY

Finesse Windows & Conservatories
(Southern) Limited (Registered number: 03022747)

Statement of Financial Position
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 87,478 76,396
Investment property 6 1,453,259 1,220,000
1,540,737 1,296,396

CURRENT ASSETS
Inventories 8,765 6,998
Debtors 7 40,837 45,824
Cash at bank and in hand 148,196 265,782
197,798 318,604
CREDITORS
Amounts falling due within one year 8 102,754 87,688
NET CURRENT ASSETS 95,044 230,916
TOTAL ASSETS LESS CURRENT LIABILITIES 1,635,781 1,527,312

PROVISIONS FOR LIABILITIES 126,360 122,187
NET ASSETS 1,509,421 1,405,125

CAPITAL AND RESERVES
Called up share capital 500 500
Fair Value reserve 410,698 410,698
Retained earnings 1,098,223 993,927
SHAREHOLDERS' FUNDS 1,509,421 1,405,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Finesse Windows & Conservatories
(Southern) Limited (Registered number: 03022747)

Statement of Financial Position - continued
31 January 2024


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 30 October 2024 and were signed on its behalf by:





K Field - Director


Finesse Windows & Conservatories
(Southern) Limited (Registered number: 03022747)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Finesse Windows & Conservatories (Southern) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation. Such assets have been amortised over the estimated useful life of each asset.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 20% on cost, 20% on reducing balance and 15% on reducing balance

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.

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell.
In respect of work in progress and finished goods, cost includes an appropriate proportion of attributable overheads according to the stage of manufacture/completion.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.


Finesse Windows & Conservatories
(Southern) Limited (Registered number: 03022747)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 by the year end.

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.

Warranty claims
Provisions for warranty claims are recognised at the date of sale of the products covered by the warranty and are calculated based on historical data.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 42,000 3,000 45,000
AMORTISATION
At 1 February 2023
and 31 January 2024 42,000 3,000 45,000
NET BOOK VALUE
At 31 January 2024 - - -
At 31 January 2023 - - -

Finesse Windows & Conservatories
(Southern) Limited (Registered number: 03022747)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 112,514 204,231 316,745
Additions - 25,501 25,501
Disposals - (12,099 ) (12,099 )
At 31 January 2024 112,514 217,633 330,147
DEPRECIATION
At 1 February 2023 92,020 148,329 240,349
Charge for year 2,250 12,169 14,419
Eliminated on disposal - (12,099 ) (12,099 )
At 31 January 2024 94,270 148,399 242,669
NET BOOK VALUE
At 31 January 2024 18,244 69,234 87,478
At 31 January 2023 20,494 55,902 76,396

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 1,220,000
Additions 233,259
At 31 January 2024 1,453,259
NET BOOK VALUE
At 31 January 2024 1,453,259
At 31 January 2023 1,220,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2022 1,220,000
Cost 233,259
1,453,259

Finesse Windows & Conservatories
(Southern) Limited (Registered number: 03022747)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 32,045 29,476
Amounts recoverable on contracts 5,255 12,815
Other debtors 3,537 3,533
40,837 45,824

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 28,160 27,655
Taxation and social security 49,606 36,714
Other creditors 24,988 23,319
102,754 87,688