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Registered number: 09091903
Farinet Limited
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09091903
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 6,424,265 6,424,265
6,424,265 6,424,265
CURRENT ASSETS
Debtors 5 188,055 188,055
188,055 188,055
Creditors: Amounts Falling Due Within One Year 6 (331,597 ) (323,611 )
NET CURRENT ASSETS (LIABILITIES) (143,542 ) (135,556 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,280,723 6,288,709
NET ASSETS 6,280,723 6,288,709
CAPITAL AND RESERVES
Called up share capital 7 6,500,000 6,500,000
Profit and Loss Account (219,277 ) (211,291 )
SHAREHOLDERS' FUNDS 6,280,723 6,288,709
Page 1
Page 2
For the year ending 30 April 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jonathan Bowers
Director
08/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Farinet Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09091903 . The registered office is 3 Archway, Birley Fields, Manchester, M15 5QJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investments
Other
£
Cost
As at 1 May 2023 6,424,265
As at 30 April 2024 6,424,265
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 6,424,265
As at 1 May 2023 6,424,265
5. Debtors
2024 2023
£ £
Due within one year
Called up share capital not paid 188,055 188,055
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Amounts owed to other participating interests 331,597 323,611
7. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 188,055 188,055
Called Up Share Capital has been paid up 6,311,945 6,311,945
Amount of Allotted, Called Up Share Capital 6,500,000 6,500,000
Page 3
Page 4
8. Related Party Transactions
The following amounts were outstanding at the reporting end date:
Amounts due to related parties
Entities under control of the company 2024 (£214,593) ; 2023 (£208,776)
Entities under common control 2024 (£117,004) ; 2023 (£114,834)
Interest is charged at 2.5% and loans are repayable on demand. The director's have taken the option not to
disclose transactions with other group members.
9. Ultimate Controlling Party
The company's ultimate controlling party is Gail Jones by virtue of her ownership of 100% of the issued share capital in the company.
Page 4