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REGISTERED NUMBER: 08636387 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024

FOR

THE FINISHING COMPANY LIMITED

THE FINISHING COMPANY LIMITED (REGISTERED NUMBER: 08636387)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE FINISHING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTOR: Mr D D Lewis





REGISTERED OFFICE: 4 Kings Row
Armstrong Road
Maidstone
Kent
ME15 6AQ





REGISTERED NUMBER: 08636387 (England and Wales)





ACCOUNTANTS: Mackenzies Accountants Limited
Chartered Accountants
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

THE FINISHING COMPANY LIMITED (REGISTERED NUMBER: 08636387)

BALANCE SHEET
28 FEBRUARY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 17,483 22,969

CURRENT ASSETS
Stocks 35,818 33,568
Debtors 5 45,349 85,233
Cash at bank 10,952 50,294
92,119 169,095
CREDITORS
Amounts falling due within one year 6 52,733 110,252
NET CURRENT ASSETS 39,386 58,843
TOTAL ASSETS LESS CURRENT
LIABILITIES

56,869

81,812

CREDITORS
Amounts falling due after more than one
year

7

(29,168

)

(34,723

)

PROVISIONS FOR LIABILITIES 8 (3,339 ) (4,364 )
NET ASSETS 24,362 42,725

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 24,262 42,625
SHAREHOLDERS' FUNDS 24,362 42,725

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 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 FINISHING COMPANY LIMITED (REGISTERED NUMBER: 08636387)

BALANCE SHEET - continued
28 FEBRUARY 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 November 2024 and were signed by:





Mr D D Lewis - Director


THE FINISHING COMPANY LIMITED (REGISTERED NUMBER: 08636387)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024


1. STATUTORY INFORMATION

The Finishing Company 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.

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.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

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 Profit and Loss Account, 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.

THE FINISHING COMPANY LIMITED (REGISTERED NUMBER: 08636387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 March 2023 2,656 32,573 9,278 44,507
Additions 916 - - 916
At 28 February 2024 3,572 32,573 9,278 45,423
DEPRECIATION
At 1 March 2023 2,236 12,573 6,729 21,538
Charge for year 456 5,000 946 6,402
At 28 February 2024 2,692 17,573 7,675 27,940
NET BOOK VALUE
At 28 February 2024 880 15,000 1,603 17,483
At 28 February 2023 420 20,000 2,549 22,969

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 15,054 61,422
Amounts owed by associates 1,000 1,000
Other debtors - 3,412
Directors' current accounts 28,548 -
Tax recoverable - 16,000
VAT - 2,652
Prepayments and accrued income 747 747
45,349 85,233

The directors loan account was repaid within 9 months of the year end.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 40,296 5,556
Tax 8,154 10,254
Social security and other taxes 40 3,623
VAT 2,090 -
Directors' current accounts - 19,309
Accruals and deferred income 2,153 71,510
52,733 110,252

THE FINISHING COMPANY LIMITED (REGISTERED NUMBER: 08636387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans - 1-2 years 5,556 5,556
Bank loans - 2-5 years 16,667 16,667
Bank loans - over 5 years 6,945 12,500
29,168 34,723

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - over 5 years 6,945 12,500

8. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 3,339 4,364

Deferred tax
£
Balance at 1 March 2023 4,364
Provided during year (1,025 )
Balance at 28 February 2024 3,339

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

At the balance sheet date, The Designers Company (UK) Limited, a company under common control owed an amount of £1,000 (2023: £1,000), which is included within amounts owed by associates.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr D D Lewis.