Ian Finch Limited 10786005 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Consultancy Digita Accounts Production Advanced 6.30.9574.0 true 10786005 2023-06-01 2024-05-31 10786005 2024-05-31 10786005 core:RetainedEarningsAccumulatedLosses 2024-05-31 10786005 core:ShareCapital 2024-05-31 10786005 core:CurrentFinancialInstruments 2024-05-31 10786005 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 10786005 core:FurnitureFittingsToolsEquipment 2024-05-31 10786005 bus:SmallEntities 2023-06-01 2024-05-31 10786005 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 10786005 bus:FullAccounts 2023-06-01 2024-05-31 10786005 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10786005 bus:RegisteredOffice 2023-06-01 2024-05-31 10786005 bus:Director1 2023-06-01 2024-05-31 10786005 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10786005 core:ComputerEquipment 2023-06-01 2024-05-31 10786005 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 10786005 countries:AllCountries 2023-06-01 2024-05-31 10786005 2023-05-31 10786005 core:FurnitureFittingsToolsEquipment 2023-05-31 10786005 2022-06-01 2023-05-31 10786005 2023-05-31 10786005 core:RetainedEarningsAccumulatedLosses 2023-05-31 10786005 core:ShareCapital 2023-05-31 10786005 core:CurrentFinancialInstruments 2023-05-31 10786005 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 10786005 core:FurnitureFittingsToolsEquipment 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 10786005

Ian Finch Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Ian Finch Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Ian Finch Limited

(Registration number: 10786005)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

640

1,887

Current assets

 

Debtors

5

2,775

2,261

Cash at bank and in hand

 

29,941

41,995

 

32,716

44,256

Creditors: Amounts falling due within one year

6

(12,341)

(21,590)

Net current assets

 

20,375

22,666

Total assets less current liabilities

 

21,015

24,553

Provisions for liabilities

(122)

(359)

Net assets

 

20,893

24,194

Capital and reserves

 

Called up share capital

2

2

Retained earnings

20,891

24,192

Shareholders' funds

 

20,893

24,194

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 7 January 2025
 

.........................................
Mr I R Finch
Director

 

Ian Finch Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Ian Finch Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tax

The tax expense for the period comprises current and deferred tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company.

Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

straight line over 3 years

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Ian Finch Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Computer equipment
 £

Total
£

Cost or valuation

At 1 June 2023

7,296

7,296

At 31 May 2024

7,296

7,296

Depreciation

At 1 June 2023

5,409

5,409

Charge for the year

1,247

1,247

At 31 May 2024

6,656

6,656

Carrying amount

At 31 May 2024

640

640

At 31 May 2023

1,887

1,887

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,230

40

Other debtors

1,545

2,221

 

2,775

2,261

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,331

1,560

Other creditors

10,010

20,030

12,341

21,590