Silverfin false false 30/09/2024 01/10/2023 30/09/2024 K A W Slater 13/10/2005 G T Slater 17/01/1991 15 April 2025 no description of principal activity 02574723 2024-09-30 02574723 bus:Director1 2024-09-30 02574723 bus:Director2 2024-09-30 02574723 2023-09-30 02574723 core:CurrentFinancialInstruments 2024-09-30 02574723 core:CurrentFinancialInstruments 2023-09-30 02574723 core:Non-currentFinancialInstruments 2024-09-30 02574723 core:Non-currentFinancialInstruments 2023-09-30 02574723 core:ShareCapital 2024-09-30 02574723 core:ShareCapital 2023-09-30 02574723 core:RetainedEarningsAccumulatedLosses 2024-09-30 02574723 core:RetainedEarningsAccumulatedLosses 2023-09-30 02574723 core:PlantMachinery 2023-09-30 02574723 core:Vehicles 2023-09-30 02574723 core:FurnitureFittings 2023-09-30 02574723 core:OfficeEquipment 2023-09-30 02574723 core:PlantMachinery 2024-09-30 02574723 core:Vehicles 2024-09-30 02574723 core:FurnitureFittings 2024-09-30 02574723 core:OfficeEquipment 2024-09-30 02574723 2023-10-01 2024-09-30 02574723 bus:FilletedAccounts 2023-10-01 2024-09-30 02574723 bus:SmallEntities 2023-10-01 2024-09-30 02574723 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 02574723 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02574723 bus:Director1 2023-10-01 2024-09-30 02574723 bus:Director2 2023-10-01 2024-09-30 02574723 core:PlantMachinery core:TopRangeValue 2023-10-01 2024-09-30 02574723 core:Vehicles core:TopRangeValue 2023-10-01 2024-09-30 02574723 core:FurnitureFittings core:BottomRangeValue 2023-10-01 2024-09-30 02574723 core:FurnitureFittings core:TopRangeValue 2023-10-01 2024-09-30 02574723 core:OfficeEquipment core:TopRangeValue 2023-10-01 2024-09-30 02574723 2022-10-01 2023-09-30 02574723 core:PlantMachinery 2023-10-01 2024-09-30 02574723 core:Vehicles 2023-10-01 2024-09-30 02574723 core:FurnitureFittings 2023-10-01 2024-09-30 02574723 core:OfficeEquipment 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Company No: 02574723 (England and Wales)

FIGURA LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

FIGURA LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024

Contents

FIGURA LTD

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
FIGURA LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
DIRECTORS K A W Slater
G T Slater
SECRETARY K A W Slater
REGISTERED OFFICE The Old Bakery
The Green
Chiddingfold
Godalming
Surrey
GU8 4TU
United Kingdom
COMPANY NUMBER 02574723 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
FIGURA LTD

BALANCE SHEET

AS AT 30 SEPTEMBER 2024
FIGURA LTD

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2024
Note 30.09.2024 30.09.2023
£ £
Fixed assets
Tangible assets 3 56,190 87,430
56,190 87,430
Current assets
Stocks 13,943 14,220
Debtors 4 64,172 56,072
Cash at bank and in hand 17 59,191
78,132 129,483
Creditors: amounts falling due within one year 5 ( 125,348) ( 196,045)
Net current liabilities (47,216) (66,562)
Total assets less current liabilities 8,974 20,868
Creditors: amounts falling due after more than one year 6 0 ( 5,634)
Net assets 8,974 15,234
Capital and reserves
Called-up share capital 100 100
Profit and loss account 8,874 15,134
Total shareholders' funds 8,974 15,234

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Figura Ltd (registered number: 02574723) were approved and authorised for issue by the Board of Directors on 15 April 2025. They were signed on its behalf by:

G T Slater
Director
FIGURA LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
FIGURA LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Figura Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Old Bakery, The Green, Chiddingfold, Godalming, Surrey, GU8 4TU,, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Vehicles 4 years straight line
Fixtures and fittings 4 - 20 years straight line
Office equipment 4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

30.09.2024 30.09.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 October 2023 5,004 41,637 216,751 30,477 293,869
Additions 1,134 0 7,835 0 8,969
Disposals ( 3,406) 0 ( 4,702) ( 2,233) ( 10,341)
At 30 September 2024 2,732 41,637 219,884 28,244 292,497
Accumulated depreciation
At 01 October 2023 3,605 41,134 139,619 22,081 206,439
Charge for the financial year 536 503 34,216 4,953 40,208
Disposals ( 3,406) 0 ( 4,702) ( 2,233) ( 10,341)
At 30 September 2024 736 41,637 169,133 24,801 236,307
Net book value
At 30 September 2024 1,996 0 50,751 3,443 56,190
At 30 September 2023 1,399 503 77,132 8,396 87,430

4. Debtors

30.09.2024 30.09.2023
£ £
Trade debtors 34,561 50,570
Prepayments 4,699 5,502
VAT recoverable 3,112 0
Other debtors 21,800 0
64,172 56,072

5. Creditors: amounts falling due within one year

30.09.2024 30.09.2023
£ £
Bank loans and overdrafts 5,545 3,207
Trade creditors 45,727 17,675
Accruals and deferred income 5,737 92,182
Corporation tax 25,666 19,767
Other taxation and social security 501 4,157
Obligations under finance leases and hire purchase contracts 0 8,062
Other creditors 42,172 50,995
125,348 196,045

6. Creditors: amounts falling due after more than one year

30.09.2024 30.09.2023
£ £
Other loans 0 5,634

7. Financial commitments

Commitments

Capital commitments are as follows:

30.09.2024 30.09.2023
£ £
Contracted for but not provided for:
Finance leases entered into 0 2,219