Registered number
04907725
Finesse Paving and Civil Engineering Limited
Filleted Accounts
30 November 2024
Finesse Paving and Civil Engineering Limited
Registered number: 04907725
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 592,460 776,357
Investments 4 1 1
592,461 776,358
Current assets
Stocks 85,507 19,056
Debtors 5 574,777 668,447
Cash at bank and in hand 1,971,013 1,421,850
2,631,297 2,109,353
Creditors: amounts falling due within one year 6 (153,353) (51,229)
Net current assets 2,477,944 2,058,124
Total assets less current liabilities 3,070,405 2,834,482
Provisions for liabilities (142,888) (144,494)
Net assets 2,927,517 2,689,988
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,927,515 2,689,986
Shareholders' funds 2,927,517 2,689,988
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.
N Giddings
Director
Approved by the board on 21 May 2025
Finesse Paving and Civil Engineering Limited
Notes to the Accounts
for the year ended 30 November 2024
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).
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 not depreciated or over 10-50 years
Plant and machinery over 3-10 years
Fixtures, fittings, tools and equipment over 3-10 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits. Current tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 23 22
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 33,986 1,209,752 584,605 1,828,343
Additions - 30,257 115,715 145,972
Disposals (16,836) (32,263) (181,050) (230,149)
At 30 November 2024 17,150 1,207,746 519,270 1,744,166
Depreciation
At 1 December 2023 18,342 745,489 288,155 1,051,986
Charge for the year 214 124,759 69,095 194,068
On disposals (16,836) (32,249) (45,263) (94,348)
At 30 November 2024 1,720 837,999 311,987 1,151,706
Net book value
At 30 November 2024 15,430 369,747 207,283 592,460
At 30 November 2023 15,644 464,263 296,450 776,357
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 December 2023 1
At 30 November 2024 1
The investment is a wholly owned subsidiary Finesse Motorsport Limited.
5 Debtors 2024 2023
£ £
Trade debtors 331,111 417,648
Amounts owed by group undertakings and undertakings in which the company has a participating interest 82,537 82,537
Other debtors 161,129 168,262
574,777 668,447
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 20,381 17,007
Taxation and social security costs 125,295 24,923
Other creditors 7,677 9,299
153,353 51,229
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
N Giddings
Loan repayable on demand with interest at the official rate 50,000 - (25,000) 25,000
D Giddings
Loan repayable on demand with interest at the official rate 50,000 - (25,000) 25,000
100,000 - (50,000) 50,000
8 Controlling party
The company is controloled by the directors N and D Giddings.
9 Other information
Finesse Paving and Civil Engineering Limited is a private company limited by shares and incorporated in England. Its registered office is:
First Floor, 12 St. John's Way
St. John's Business Estate
Downham Market
Norfolk
PE38 0QQ
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