| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| J.f. Finnegan Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| J.f. Finnegan Limited |
| J.f. Finnegan Limited (Registered number: 00393098) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 |
| J.f. Finnegan Limited |
| Company Information |
| for the Year Ended 30 September 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants & Business Advisers |
| 15 Newland |
| Lincoln |
| Lincolnshire |
| LN1 1XG |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| J.f. Finnegan Limited |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J.f. Finnegan Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of J.f. Finnegan Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J.f. Finnegan Limited and state those matters that we have agreed to state to the director of J.f. Finnegan Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J.f. Finnegan Limited and its director for our work or for this report. |
| It is your duty to ensure that J.f. Finnegan 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 J.f. Finnegan Limited. You consider that J.f. Finnegan Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of J.f. Finnegan 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. |
| Chartered Accountants & Business Advisers |
| 15 Newland |
| Lincoln |
| Lincolnshire |
| LN1 1XG |
| J.f. Finnegan Limited (Registered number: 00393098) |
| Balance Sheet |
| 30 September 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| J.f. Finnegan Limited (Registered number: 00393098) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| J.f. Finnegan Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the value of contracting work undertaken, and development properties sold, during the year, excluding value added tax. |
| Tangible fixed assets |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost less impairment. |
| Stocks |
| Stocks are stated as follows: |
| Development Property |
| This consists of land and property held by the company for development and resale. All such land and property is valued at the lower of cost and net realisable value in the normal course of business. |
| Certain fully developed properties are let on leases of varying durations. All costs associated with the letting of the properties are included in the profit and loss account. The intention of these properties is for them to be sold but in the interim period they are let out until a buyer is found. |
| Long term contracts are assessed and valued as cost of direct materials and labour attributable overheads plus any attributable profit less any foreseeable losses which are not matched with turnover less payments on account not offset against amounts recoverable. |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date. |
| Taxation |
| 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. |
| J.f. Finnegan Limited (Registered number: 00393098) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Amounts recoverable on contracts |
| The amount by which recorded turnover on long term contracts is in excess of payments on account is classified as amounts recoverable on contracts under debtors. |
| Payments received on account |
| The balance of payments on account in excess of amounts offset against amounts recoverable on contracts and long term contract balances is classified as payments received on account under creditors,where applicable. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in | Interest |
| group | in joint |
| undertakings | venture | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2023 |
| and 30 September 2024 | 5 |
| NET BOOK VALUE |
| At 30 September 2024 | 5 |
| At 30 September 2023 | 5 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by joint ventures |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Amounts owed to joint ventures |
| Other creditors |
| J.f. Finnegan Limited (Registered number: 00393098) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 149,538 | 149,538 |
| 8. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| At the year end J F Finnegan Limited owed £1,082,294 (2023: J F Finnegan were owed £1,803,569) by Junction 33 Developments (Holdings) Limited, a joint venture company. This balance is included within amounts owed by joint ventures. |