Caseware UK (AP4) 2024.0.164 2024.0.164 2024-04-282024-04-282023-04-29falseProperty Refurbishment, engage CIS sub-contractors to carry out the property refurbishment works for clients65falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09563926 2023-04-29 2024-04-28 09563926 2022-04-29 2023-04-28 09563926 2024-04-28 09563926 2023-04-28 09563926 c:IncreaseDecreaseDueToTransitionFromPreviousStandard 2023-04-28 09563926 c:CurrentFinancialInstruments c:WithinOneYear c:IncreaseDecreaseDueToTransitionFromPreviousStandard 2023-04-28 09563926 c:Non-currentFinancialInstruments c:AfterOneYear c:IncreaseDecreaseDueToTransitionFromPreviousStandard 2023-04-28 09563926 c:IncreaseDecreaseDueToTransitionFromPreviousStandard 2022-04-29 2023-04-28 09563926 d:Director2 2023-04-29 2024-04-28 09563926 c:PlantMachinery 2023-04-29 2024-04-28 09563926 c:PlantMachinery 2024-04-28 09563926 c:PlantMachinery 2023-04-28 09563926 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-29 2024-04-28 09563926 c:MotorVehicles 2023-04-29 2024-04-28 09563926 c:MotorVehicles 2024-04-28 09563926 c:MotorVehicles 2023-04-28 09563926 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-04-29 2024-04-28 09563926 c:FurnitureFittings 2023-04-29 2024-04-28 09563926 c:FurnitureFittings 2024-04-28 09563926 c:FurnitureFittings 2023-04-28 09563926 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-29 2024-04-28 09563926 c:ComputerEquipment 2023-04-29 2024-04-28 09563926 c:ComputerEquipment 2024-04-28 09563926 c:ComputerEquipment 2023-04-28 09563926 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-29 2024-04-28 09563926 c:OwnedOrFreeholdAssets 2023-04-29 2024-04-28 09563926 c:CurrentFinancialInstruments 2024-04-28 09563926 c:CurrentFinancialInstruments 2023-04-28 09563926 c:Non-currentFinancialInstruments 2024-04-28 09563926 c:Non-currentFinancialInstruments 2023-04-28 09563926 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-28 09563926 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-28 09563926 c:Non-currentFinancialInstruments c:AfterOneYear 2024-04-28 09563926 c:Non-currentFinancialInstruments c:AfterOneYear 2023-04-28 09563926 c:ShareCapital 2024-04-28 09563926 c:ShareCapital 2023-04-28 09563926 c:RetainedEarningsAccumulatedLosses 2024-04-28 09563926 c:RetainedEarningsAccumulatedLosses 2023-04-28 09563926 d:FRS102 2023-04-29 2024-04-28 09563926 d:AuditExemptWithAccountantsReport 2023-04-29 2024-04-28 09563926 d:FullAccounts 2023-04-29 2024-04-28 09563926 d:PrivateLimitedCompanyLtd 2023-04-29 2024-04-28 09563926 2 2023-04-29 2024-04-28 09563926 e:PoundSterling 2023-04-29 2024-04-28 iso4217:GBP xbrli:pure
Registered number: 09563926


FINETHORP LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 28 APRIL 2024


















img0191.png
Chartered Accountants
2nd Floor, Heathmans House
19 Heathmans Road
London
SW6 4TJ

 
FINETHORP LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FINETHORP LIMITED
FOR THE YEAR ENDED 28 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of FINETHORP LIMITED for the year ended 28 April 2024 which comprise  the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of FINETHORP LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of FINETHORP LIMITED and state those matters that we have agreed to state to the Board of Directors of FINETHORP LIMITED, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FINETHORP LIMITED and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that FINETHORP LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of FINETHORP LIMITED. You consider that FINETHORP LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of FINETHORP LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Haggards Crowther LLP
Chartered Accountants
2nd Floor, Heathmans House
19 Heathmans Road
London
SW6 4TJ
28 April 2025
Page 1

 
FINETHORP LIMITED
REGISTERED NUMBER: 09563926

STATEMENT OF FINANCIAL POSITION
AS AT 28 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
49,271
82,736

  
49,271
82,736

Current assets
  

Stocks
 6 
70,000
70,000

Debtors: amounts falling due within one year
 7 
267,075
226,355

Cash at bank and in hand
 8 
26,043
67,985

  
363,118
364,340

Creditors: amounts falling due within one year
 9 
(412,144)
(419,151)

Net current liabilities
  
 
 
(49,026)
 
 
(54,811)

Total assets less current liabilities
  
245
27,925

Creditors: amounts falling due after more than one year
 10 
(23,241)
(59,859)

  

Net liabilities
  
(22,996)
(31,934)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(22,998)
(31,936)

  
(22,996)
(31,934)


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 income statement 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 on 28 April 2025.
Page 2

 
FINETHORP LIMITED
REGISTERED NUMBER: 09563926
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 APRIL 2024





O C Cox
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
FINETHORP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024

1.


General information

Finethorp Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 09563926 and its registered address is 2nd Floor Heathmans House, 19 Heathmans Road, London, England, SW6 4TJ.

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

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the Company will continue in operational existence for the foreseeable future. The Directors have considered the Company’s financial position, projected cash flows, and available funding sources in assessing its ability to continue as a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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.

 
2.4

Interest income

Interest income is recognised in the income statement using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to the income statement over the term of the debt using the effective interest method so that 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.

Page 4

 
FINETHORP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in the income statement in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the income statement when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in the income statement 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 reporting date in the countries where the Company operates and generates income.


 
2.9

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 5

 
FINETHORP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024

2.Accounting policies (continued)


2.9
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:

Plant and machinery
-
25%
Motor vehicles
-
25%
Fixtures and fittings
-
25%
Computer equipment
-
33%

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 the income statement.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the income statement.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 6

 
FINETHORP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.


4.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 5).


5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 29 April 2023
10,299
175,482
8,095
4,005
197,881


Additions
-
-
-
1,700
1,700


Disposals
-
(6,504)
-
-
(6,504)



At 28 April 2024

10,299
168,978
8,095
5,705
193,077



Depreciation


At 29 April 2023
2,492
109,007
862
2,784
115,145


Charge for the year
2,575
29,142
2,024
1,424
35,165


Disposals
-
(6,504)
-
-
(6,504)



At 28 April 2024

5,067
131,645
2,886
4,208
143,806



Net book value



At 28 April 2024
5,232
37,333
5,209
1,497
49,271



At 28 April 2023
7,807
66,475
7,233
1,221
82,736

Page 7

 
FINETHORP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024

6.


Stocks

2024
2023
£
£

Stocks
70,000
70,000

70,000
70,000



7.


Debtors

2024
2023
£
£


Trade debtors
32,912
51,307

Other debtors
226,477
168,500

Prepayments and accrued income
7,686
6,548

267,075
226,355



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
26,043
67,985

26,043
67,985



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans < 1 yr
13,292
13,713

Trade creditors
43,994
49,935

Corporation tax
45,641
31,012

Other taxation and social security
79,099
62,384

Obligations under finance lease and hire purchase contracts
27,144
21,852

Other creditors
167,094
204,570

Accruals and deferred income
35,880
35,685

412,144
419,151


Page 8

 
FINETHORP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,757
21,362

Net obligations under finance leases and hire purchase contracts
11,484
38,497

23,241
59,859


Page 9
 


 
FINETHORP LIMITED


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024

11.


First time adoption of FRS 102

The Company transitioned to FRS 102 from previously extant UK GAAP as at 29 April 2022. The impact of the transition to FRS 102 is as follows:

As previously stated
28 April
2023
Effect of transition
28 April
2023
FRS 102
(as restated)
28 April
2023
Note
£
£
£

Fixed assets
  
82,736
-
82,736

Current assets
  
364,340
-
364,340

Creditors: amounts falling due within one year
  
(384,453)
(34,697)
(419,150)

Net current assets/(liabilities)
  
 
(20,113)
 
(34,697)
 
(54,810)

Total assets less current liabilities
  
 
62,623
 
(34,697)
 
27,926

Creditors: amounts falling due after more than one year
  
(94,556)
34,697
(59,859)

Net  assets/(liabilities)
  
 
(31,933)
 
-
 
(31,933)

Capital and reserves
  
(31,933)
-
(31,933)
Page 10
 
FINETHORP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024

           11.First time adoption of FRS 102 (continued)

As previously stated
28 April
2023
Effect of transition
28 April
2023
FRS 102
(as restated)
28 April
2023
Note
£
£
£

Turnover
  
1,948,734
-
1,948,734

Cost of sales
  
(1,435,909)
-
(1,435,909)

  
 
512,825
 
-
 
512,825

Administrative expenses
  
(483,096)
-
(483,096)

Other operating income
  
1,043
-
1,043

Operating profit
  
 
30,772
 
-
 
30,772

Interest receivable and similar income
  
(6,064)
-
(6,064)

Interest payable and similar charges
  
(14,455)
-
(14,455)

Taxation
  
3,955
-
3,955

Profit on ordinary activities after taxation and for the financial year
  
 
14,208
 
-
 
14,208

Explanation of changes to previously reported profit and equity:

1

No changes affecting  to previously reported profit and equity.

 
Page 11