Registered number
10440463
Fineline Carpentry Holdings Limited
Unaudited Filleted Accounts
31 January 2025
Fineline Carpentry Holdings Limited
Registered number: 10440463
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 231,224 234,501
Investments 4 100 100
231,324 234,601
Current assets
Debtors 5 176,162 5,000
Cash at bank and in hand 376,668 564,473
552,830 569,473
Creditors: amounts falling due within one year 6 (32,811) (161,782)
Net current assets 520,019 407,691
Total assets less current liabilities 751,343 642,292
Creditors: amounts falling due after more than one year 7 (79,363) (85,285)
Provisions for liabilities (3,780) (3,716)
Net assets 668,200 553,291
Capital and reserves
Called up share capital 51 51
Capital Redemption Reserve 51 51
Profit and loss account 668,098 553,189
Shareholders' funds 668,200 553,291
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Simon Worthington
Director
Approved by the board on 5 March 2025
Fineline Carpentry Holdings Limited
Notes to the Accounts
for the year ended 31 January 2025
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). The financial statements contain information about Fineline Carpentry Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under section 398 of the Companies Act 2006 not to prepare consolidated financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of 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
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:
Freehold buildings over 50 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
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 2025 2024
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 February 2024 246,794
At 31 January 2025 246,794
Depreciation
At 1 February 2024 12,293
Charge for the year 3,277
At 31 January 2025 15,570
Net book value
At 31 January 2025 231,224
At 31 January 2024 234,501
4 Investments
Investments in
subsidiary
undertaking
£
Cost
At 1 February 2024 100
At 31 January 2025 100
5 Debtors 2025 2024
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 86,162 -
Other debtors 90,000 5,000
176,162 5,000
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 14,475 14,475
Trade creditors 1,165 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 131,587
Taxation and social security costs 16,211 14,760
Other creditors 960 960
32,811 161,782
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 79,363 85,285
8 Loans 2025 2024
£ £
Creditors include:
Instalments falling due for payment after more than five years 21,463 27,534
Secured bank loans 93,839 99,760
The bank loan is secured by way of a fixed and floating charge over the assets of both the company and its subsidiary undertaking, Fineline Carpentry and Building Limited.
9 Related party transactions
During the period ending 31 January 2021 the company agreed to buy back 51 ordinary shares from a former director. The agreement provided for the shares to be paid for in 4 tranches, the final tranche of which was paid for in the previous year. The beneficial interest in the shares was transferred to the Company on completion of the agreement and once purchased the shares were cancelled.
At 31 January 2025 the company was owed £86,162 by its subsidiary, Fineline Carpentry and Building Limited (31 January 2024:the company owed £131,587). This loan is interest free and repayable on demand.
During the current and previous year the company made loans to a company controlled by the directors. The amount outstanding at 31 January 2025 was £90,000 (31 January 2024: £5,000). The loan is interest free, repayable on demand and shown on an aggregated basis.
10 Controlling party
The company is controlled by Mr Simon Worthington by virtue of his shareholding.
11 Other information
Fineline Carpentry Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
30g Estover Close
Forresters Business Park
Plymouth
PL6 7PL
Fineline Carpentry Holdings Limited 10440463 false 2024-02-01 2025-01-31 2025-01-31 VT Final Accounts July 2024 Simon Worthington No description of principal activity 10440463 2023-02-01 2024-01-31 10440463 core:WithinOneYear 2024-01-31 10440463 core:AfterOneYear 2024-01-31 10440463 core:ShareCapital 2024-01-31 10440463 core:SharePremium 2024-01-31 10440463 core:RetainedEarningsAccumulatedLosses 2024-01-31 10440463 2024-02-01 2025-01-31 10440463 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 10440463 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 10440463 bus:Director40 2024-02-01 2025-01-31 10440463 1 2024-02-01 2025-01-31 10440463 2 2024-02-01 2025-01-31 10440463 core:LandBuildings 2024-02-01 2025-01-31 10440463 countries:England 2024-02-01 2025-01-31 10440463 bus:FRS102 2024-02-01 2025-01-31 10440463 bus:FilletedAccounts 2024-02-01 2025-01-31 10440463 2025-01-31 10440463 core:WithinOneYear 2025-01-31 10440463 core:AfterOneYear 2025-01-31 10440463 core:ShareCapital 2025-01-31 10440463 core:SharePremium 2025-01-31 10440463 core:RetainedEarningsAccumulatedLosses 2025-01-31 10440463 core:LandBuildings 2025-01-31 10440463 2024-01-31 10440463 core:LandBuildings 2024-01-31 iso4217:GBP xbrli:pure