REGISTERED NUMBER: |
Finangle Limited |
Financial Statements for the Year Ended 31st August 2024 |
REGISTERED NUMBER: |
Finangle Limited |
Financial Statements for the Year Ended 31st August 2024 |
Finangle Limited (Registered number: 03937121) |
Contents of the Financial Statements |
for the Year Ended 31st August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Finangle Limited |
Company Information |
for the Year Ended 31st August 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
2 Oriel Court |
Omega Park |
Alton |
Hampshire |
GU34 2YT |
Finangle Limited (Registered number: 03937121) |
Balance Sheet |
31st August 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 9 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
Finangle Limited (Registered number: 03937121) |
Balance Sheet - continued |
31st August 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Finangle Limited (Registered number: 03937121) |
Notes to the Financial Statements |
for the Year Ended 31st August 2024 |
1. | STATEMENT OF COMPLIANCE |
Finangle Limited is a private company limited by shares and is incorporated in England and Wales, registration number 03937121. The registered office is 5 Albany Courtyard, Piccadilly, London, W1J 0HF. |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
The financial statements have been prepared under the historical convention, with investments held at market value. |
Turnover |
Turnover represents net invoiced sales of services and recharged expenses, excluding value added tax. |
Tangible fixed assets |
Computer equipment | - |
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. |
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. |
Fixed asset investments |
Listed investments are stated at market value. |
Finangle Limited (Registered number: 03937121) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. |
Cash and cash equivalents |
These comprise cash at bank. |
Debtors |
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Income Statement when there is objective evidence that the asset is impaired. |
Creditors |
Creditors are not interest bearing and are stated at their nominal value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1st September 2023 |
and 31st August 2024 |
DEPRECIATION |
At 1st September 2023 |
and 31st August 2024 |
NET BOOK VALUE |
At 31st August 2024 |
At 31st August 2023 |
Finangle Limited (Registered number: 03937121) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2024 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1st September 2023 |
Disposals | ( |
) |
At 31st August 2024 |
PROVISIONS |
At 1st September 2023 | 35,800 |
Eliminated on disposal | (35,800 | ) |
At 31st August 2024 | - |
NET BOOK VALUE |
At 31st August 2024 |
At 31st August 2023 |
Fixed asset investments were disposed of during the year, the original cost was £55,300. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments and accrued income |
Included within other debtors is £50,830 being a rent deposit held by the landlords of the premises from which the company operates. The deposit is subject to a fixed charge held by the landlords as security against all future rent payments. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Creditors |
Social security and other taxes |
VAT | 2,687 | - |
Directors' current accounts | 7,131 | 8,285 |
Accruals and deferred income |
Finangle Limited (Registered number: 03937121) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2024 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
9. | RESERVES |
Retained |
earnings |
£ |
At 1st September 2023 | ( |
) |
Deficit for the year | ( |
) |
At 31st August 2024 | ( |
) |