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Company No: 14665863 (England and Wales)

FINA MANAGEMENT LIMITED

Unaudited Financial Statements
For the financial period from 15 February 2023 to 31 March 2024
Pages for filing with the registrar

FINA MANAGEMENT LIMITED

Unaudited Financial Statements

For the financial period from 15 February 2023 to 31 March 2024

Contents

FINA MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
FINA MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 31.03.2024
£
Current assets
Cash at bank and in hand 110
110
Creditors: amounts falling due within one year 3 ( 2,922)
Net current liabilities (2,812)
Total assets less current liabilities (2,812)
Net liabilities ( 2,812)
Capital and reserves
Called-up share capital 1
Profit and loss account ( 2,813 )
Total shareholder's deficit ( 2,812)

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

Directors' responsibilities:

The financial statements of Fina Management Limited (registered number: 14665863) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

E B Burrows
Director

13 November 2024

FINA MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 15 February 2023 to 31 March 2024
FINA MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 15 February 2023 to 31 March 2024
1. Accounting policies

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

General information and basis of accounting

Fina Management 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 10 Tuddenham Avenue, Ipswich, IP4 2HE, England, United Kingdom.

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.

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

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £2,812. The Company is supported through loans from the Parent Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

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. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

2. Employees

Period from
15.02.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Creditors: amounts falling due within one year

31.03.2024
£
Trade creditors 241
Amounts owed to Group undertakings 581
Accruals 2,100
2,922

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

4. Ultimate controlling party

Parent Company:

Fina Group Limited
10 Tuddenham Avenue, Ipswich, Suffolk, England, IP4 2HE