Company registration number 08036314 (England and Wales)
FINLEY HARRISON LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
FINLEY HARRISON LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
FINLEY HARRISON LTD (REGISTERED NUMBER: 08036314)
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
27,302
32,392
Current assets
Debtors
4
608,735
1,096,819
Cash at bank and in hand
9,153
8,659
617,888
1,105,478
Creditors: amounts falling due within one year
5
(411,697)
(698,416)
Net current assets
206,191
407,062
Total assets less current liabilities
233,493
439,454
Creditors: amounts falling due after more than one year
6
(174,586)
(181,467)
Provisions for liabilities
(4,438)
(8,098)
Net assets
54,469
249,889
Capital and reserves
Called up share capital
7
4
4
Profit and loss reserves
54,465
249,885
Total equity
54,469
249,889

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

FINLEY HARRISON LTD (REGISTERED NUMBER: 08036314)
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 January 2025 and are signed on its behalf by:
S J Finley
Director
FINLEY HARRISON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Finley Harrison Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Cwg House, Gallamore Lane, Market Rasen, Lincolnshire, England, LN8 3HA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of consideration received or receivable for the goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The following criteria must also be met before turnover is recognised.

 

Sale of goods:

Turnover for the sale of goods is recognised when all of the following conditions are met:

 

- The company has transferred the significant risks and rewards of ownership to the buyer;

- the amount of turnover can be recognised reliably and;

- It is probable that the company will receive the consideration due under the transaction.

 

Rendering of services:

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

 

- The amount of turnover can be measured reliably                    

- It is probable that the company will receive the consideration due under the contract        

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and    

- the costs incurred and the costs to complete the contract can be measured reliably    

 

 

 

 

 

 

    

 

 

 

FINLEY HARRISON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.3
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Computer equipment
25% reducing balance
Motor vehicles
25% reducing balance
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
7
FINLEY HARRISON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
630
14,990
64,749
51,690
132,059
Additions
400
-
0
2,932
-
0
3,332
At 30 April 2024
1,030
14,990
67,681
51,690
135,391
Depreciation and impairment
At 1 May 2023
595
13,522
50,473
35,077
99,667
Depreciation charged in the year
34
367
3,868
4,153
8,422
At 30 April 2024
629
13,889
54,341
39,230
108,089
Carrying amount
At 30 April 2024
401
1,101
13,340
12,460
27,302
At 30 April 2023
35
1,468
14,276
16,613
32,392
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
242,089
440,125
Amounts owed by group undertakings
310,434
630,254
Other debtors
56,212
26,440
608,735
1,096,819
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
66,379
152,194
Trade creditors
77,377
56,982
Taxation and social security
201,213
251,154
Other creditors
66,728
238,086
411,697
698,416
FINLEY HARRISON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
163,437
164,344
Other creditors
11,149
17,123
174,586
181,467

Bank loans and overdrafts are secured by fixed and floating charges against all property and assets owned by the company along with a negative pledge.

 

 

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
1
1
1
1
Ordinary B of £1 each
1
1
1
1
Ordinary C of £1 each
1
1
1
1
Ordinary D of £1 each
1
1
1
1
4
4
4
4
8
Related party transactions

Included within other debtors is a balance of £310,434 (2023: £630,254) due from companies which have shared directors with Finley Harrison Ltd.

 

Included within other creditors is a balance of £nil (2023: £26,135) due to companies which have shared directors with Finley Harrison Ltd.

 

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