Company Registration No. NI632973 (Northern Ireland)
Finmaris Projects Ltd
Unaudited accounts
for the year ended 31 August 2024
Finmaris Projects Ltd
Statement of financial position
as at 31 August 2024
Tangible assets
3,208
4,010
Cash at bank and in hand
887
2,601
Creditors: amounts falling due within one year
(12,474)
(19,190)
Net current liabilities
(8,811)
(15,549)
Net liabilities
(5,603)
(11,539)
Called up share capital
2
2
Profit and loss account
(5,605)
(11,541)
Shareholders' funds
(5,603)
(11,539)
For the year ending 31 August 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 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 of Directors and authorised for issue on 21 January 2025 and were signed on its behalf by
Aaron Samuel McIntosh
Director
Company Registration No. NI632973
Finmaris Projects Ltd
Notes to the Accounts
for the year ended 31 August 2024
Finmaris Projects Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI632973. The registered office and principal place of business is 44 Killycarn Road, Aughafatten, Ballymena, County Antrim, BT42 4LY, Northern Ireland.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of construction site services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
The director believes that Finmaris Projects Ltd has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Finmaris Projects Ltd
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 September 2023
4,100
10,275
14,375
At 31 August 2024
4,100
10,275
14,375
At 1 September 2023
3,394
6,971
10,365
Charge for the year
141
661
802
At 31 August 2024
3,535
7,632
11,167
At 31 August 2024
565
2,643
3,208
At 31 August 2023
706
3,304
4,010
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
2,168
1,051
Loans from directors
10,306
18,139
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).