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REGISTERED NUMBER: 12400600 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

FINEST GROUP (FARLINGTON) LIMITED

FINEST GROUP (FARLINGTON) LIMITED (REGISTERED NUMBER: 12400600)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FINEST GROUP (FARLINGTON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTOR: T Scopes-Upton



REGISTERED OFFICE: Finest House Unit 3
Fitzherbert Spur
Farlington
Portsmouth
Hampshire
PO6 1TT



REGISTERED NUMBER: 12400600 (England and Wales)



ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR



BANKERS: Barclays Bank Plc
Leicester
Leicestershire
LE87 2BB

FINEST GROUP (FARLINGTON) LIMITED (REGISTERED NUMBER: 12400600)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 69,325 343,997

CURRENT ASSETS
Stocks 124,000 214,000
Debtors 5 323,549 188,638
Cash at bank and in hand 2,992 5,576
450,541 408,214
CREDITORS
Amounts falling due within one year 6 334,473 542,778
NET CURRENT ASSETS/(LIABILITIES) 116,068 (134,564 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

185,393

209,433

CREDITORS
Amounts falling due after more than one
year

7

(26,080

)

(44,740

)

PROVISIONS FOR LIABILITIES (13,172 ) (32,526 )
NET ASSETS 146,141 132,167

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 145,141 131,167
SHAREHOLDERS' FUNDS 146,141 132,167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 3rd October 2024 and were signed by:



T Scopes-Upton - Director


FINEST GROUP (FARLINGTON) LIMITED (REGISTERED NUMBER: 12400600)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024


1. STATUTORY INFORMATION

Finest Group (Farlington) 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.

Turnover
Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

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 - 25% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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.

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.

FINEST GROUP (FARLINGTON) LIMITED (REGISTERED NUMBER: 12400600)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st March 2023 274,362 8,669 187,669 2,459 473,159
Additions 5,558 - - 816 6,374
Disposals (279,920 ) (8,669 ) (64,424 ) (3,275 ) (356,288 )
At 29th February 2024 - - 123,245 - 123,245
DEPRECIATION
At 1st March 2023 73,852 5,774 48,042 1,494 129,162
Charge for year 51,517 2,167 34,907 855 89,446
Eliminated on disposal (125,369 ) (7,941 ) (29,029 ) (2,349 ) (164,688 )
At 29th February 2024 - - 53,920 - 53,920
NET BOOK VALUE
At 29th February 2024 - - 69,325 - 69,325
At 28th February 2023 200,510 2,895 139,627 965 343,997

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 124,933 187,644
Amounts owed by group undertakings 191,599 -
Other debtors 7,017 994
323,549 188,638

FINEST GROUP (FARLINGTON) LIMITED (REGISTERED NUMBER: 12400600)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 22,151 23,794
Trade creditors 224,653 213,919
Taxation and social security 8,257 46,056
Other creditors 79,412 259,009
334,473 542,778

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 26,080 44,740

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
NIL Ordinary £1 - 1,000
401 Ordinary 'A' £1 401 -
399 Ordinary 'B' £1 399 -
100 Ordinary 'C' £1 100 -
100 Ordinary 'D' £1 100 -
1,000 1,000