Registered number
11923908
Finetrue Limited
Unaudited Filleted Accounts
30 April 2024
Finetrue Limited
Registered number: 11923908
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 312 624
Current assets
Debtors 4 - 1,594
Cash at bank and in hand 33,444 63,369
33,444 64,963
Creditors: amounts falling due within one year 5 (4,917) (7,056)
Net current assets 28,527 57,907
Net assets 28,839 58,531
Capital and reserves
Called up share capital 1 1
Profit and loss account 28,838 58,530
Shareholder's funds 28,839 58,531
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms Y Gan
Director
Approved by the board on 24 December 2024
Finetrue Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 9
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 1,560
At 30 April 2024 1,560
Depreciation
At 1 May 2023 936
Charge for the year 312
At 30 April 2024 1,248
Net book value
At 30 April 2024 312
At 30 April 2023 624
4 Debtors 2024 2023
£ £
Other debtors - 1,594
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 2,319
Other creditors 4,917 4,737
4,917 7,056
6 Controlling party
The company is under the control of the director, Ms Y Gan, by virtue of her shareholdings in the company.
7 Other information
Finetrue Limited is a private company limited by shares and incorporated in England. Its registered office is:
114 Hamlet Court Road
Westcliff on Sea
Essex
SS0 7LP
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