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REGISTERED NUMBER: 10095891 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FINESSE BOATS LTD

FINESSE BOATS LTD (REGISTERED NUMBER: 10095891)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


FINESSE BOATS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mrs K A Lee





REGISTERED OFFICE: Victoria Boatyard
Sussex Street
Sheffield
United Kingdom
S4 7YY





REGISTERED NUMBER: 10095891 (England and Wales)





ACCOUNTANTS: Michael A Jarvis & Co Ltd
Edenthorpe
Grove Road
Rotherham
South Yorkshire
S60 2ER

FINESSE BOATS LTD (REGISTERED NUMBER: 10095891)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 86,326 103,560

CURRENT ASSETS
Stocks 150,000 160,000
Debtors 5 54,170 60,874
Cash at bank 28,994 -
233,164 220,874
CREDITORS
Amounts falling due within one year 6 107,041 123,767
NET CURRENT ASSETS 126,123 97,107
TOTAL ASSETS LESS CURRENT
LIABILITIES

212,449

200,667

CREDITORS
Amounts falling due after more than one
year

7

-

(15,334

)

PROVISIONS FOR LIABILITIES (6,930 ) (7,753 )
NET ASSETS 205,519 177,580

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 205,509 177,570
205,519 177,580

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 October 2024 and were signed by:





Mrs K A Lee - Director


FINESSE BOATS LTD (REGISTERED NUMBER: 10095891)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Finesse Boats Ltd 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

FINESSE BOATS LTD (REGISTERED NUMBER: 10095891)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 271,993
Additions 11,546
At 31 March 2024 283,539
DEPRECIATION
At 1 April 2023 168,433
Charge for year 28,780
At 31 March 2024 197,213
NET BOOK VALUE
At 31 March 2024 86,326
At 31 March 2023 103,560

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 54,170 60,874

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 19,339
Hire purchase contracts 15,334 17,819
Trade creditors 6,825 4,972
Taxation and social security 80,799 80,387
Other creditors 4,083 1,250
107,041 123,767

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 15,334