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Registered number: 12929284









FINNSON LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
FINNSON LTD
REGISTERED NUMBER: 12929284

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
10,157
-

Tangible assets
 5 
99
402

  
10,256
402

CURRENT ASSETS
  

Stocks
 6 
57,307
21,446

Debtors: amounts falling due within one year
 7 
92,946
76,379

Cash at bank and in hand
  
142,529
102,081

  
292,782
199,906

Creditors: amounts falling due within one year
 8 
(147,186)
(97,428)

NET CURRENT ASSETS
  
 
 
145,596
 
 
102,478

TOTAL ASSETS LESS CURRENT LIABILITIES
  
155,852
102,880

  

NET ASSETS
  
155,852
102,880


CAPITAL AND RESERVES
  

Called up share capital 
 9 
13,125
13,125

Share premium account
  
104,875
104,875

Profit and loss account
  
37,852
(15,120)

  
155,852
102,880


Page 1

 
FINNSON LTD
REGISTERED NUMBER: 12929284
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




K Mawdsley
Director

Date: 11 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
FINNSON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


GENERAL INFORMATION

Finnson Ltd is a private company limited by shares and was incorporated in England and Wales. The company's registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA.
The company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
FINNSON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

TURNOVER

Turnover is derived from online and highstreet sales of baby travel accessories and it is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.5

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
FINNSON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.6
TANGIBLE FIXED ASSETS (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

STOCKS

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks, Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.



 
2.8

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2023 - 2)






Page 5

 
FINNSON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


INTANGIBLE ASSETS




Computer software

£



Cost


Additions
10,373



At 31 October 2024

10,373



Amortisation


Charge for the year on owned assets
216



At 31 October 2024

216



Net book value



At 31 October 2024
10,157



At 31 October 2023
-



Page 6

 
FINNSON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


TANGIBLE FIXED ASSETS





Computer equipment

£



Cost or valuation


At 1 November 2023
1,213



At 31 October 2024

1,213



Depreciation


At 1 November 2023
811


Charge for the year on owned assets
303



At 31 October 2024

1,114



Net book value



At 31 October 2024
99



At 31 October 2023
402


6.


STOCKS

2024
2023
£
£

Finished goods and goods for resale
57,307
21,446



7.


DEBTORS

2024
2023
£
£


Trade debtors
86,078
69,236

Prepayments and accrued income
6,868
7,143

92,946
76,379


Page 7

 
FINNSON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
22,478
5,901

Corporation tax
9,490
-

Other taxation and social security
34,890
16,903

Other creditors
72,664
73,449

Accruals and deferred income
7,664
1,175

147,186
97,428



9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,312,500 (2023 - 1,312,500) Ordinary shares of £0.01 each
13,125
13,125


 
Page 8