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Company Registration No. 05693730 (England and Wales)
Finch Freight Ltd Unaudited accounts for the year ended 29 February 2024
Finch Freight Ltd Unaudited accounts Contents
Page
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Finch Freight Ltd Company Information for the year ended 29 February 2024
Director
Jonathan Paul Finch
Company Number
05693730 (England and Wales)
Registered Office
95 Stallington Road Blythe Bridge Stoke-on-Trent Staffordshire ST11 9PD England
Accountants
James Accountancy Services Ltd 3 Waterloo Grove Kidsgrove Stoke-on-Trent Staffordshire ST7 4SY
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Finch Freight Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
71,910 
81,650 
Current assets
Debtors
3,319 
8,294 
Cash at bank and in hand
13,805 
17,328 
17,124 
25,622 
Creditors: amounts falling due within one year
(7,361)
(11,078)
Net current assets
9,763 
14,544 
Total assets less current liabilities
81,673 
96,194 
Provisions for liabilities
Deferred tax
(13,663)
(15,514)
Net assets
68,010 
80,680 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
68,009 
80,679 
Shareholders' funds
68,010 
80,680 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 November 2024 and were signed on its behalf by
Jonathan Paul Finch Director Company Registration No. 05693730
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Finch Freight Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Finch Freight Ltd is a private company, limited by shares, registered in England and Wales, registration number 05693730. The registered office is 95 Stallington Road, Blythe Bridge, Stoke-on-Trent, Staffordshire, ST11 9PD, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance method.
Motor vehicles
20% reducing balance method
Fixtures & fittings
15% reducing balance method.
Computer equipment
20% reducing balance method
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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Finch Freight Ltd Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 March 2023
20,171 
111,164 
6,652 
3,076 
141,063 
Additions
- 
- 
- 
508 
508 
At 29 February 2024
20,171 
111,164 
6,652 
3,584 
141,571 
Depreciation
At 1 March 2023
7,671 
48,164 
2,852 
726 
59,413 
Charge for the year
2,500 
6,500 
700 
548 
10,248 
At 29 February 2024
10,171 
54,664 
3,552 
1,274 
69,661 
Net book value
At 29 February 2024
10,000 
56,500 
3,100 
2,310 
71,910 
At 28 February 2023
12,500 
63,000 
3,800 
2,350 
81,650 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,319 
8,294 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
2,071 
3,496 
Trade creditors
1,359 
863 
Taxes and social security
2,853 
4,963 
Loans from directors
528 
1,206 
Accruals
550 
550 
7,361 
11,078 
7
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
13,663 
15,514 
2024 
2023 
£ 
£ 
Provision at start of year
15,514 
17,288 
Credited to the profit and loss account
(1,851)
(1,774)
Provision at end of year
13,663 
15,514 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
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Finch Freight Ltd Notes to the Accounts for the year ended 29 February 2024
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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