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REGISTERED NUMBER: 04341003 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

FINER LIMITED

FINER LIMITED (REGISTERED NUMBER: 04341003)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 October 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FINER LIMITED

COMPANY INFORMATION
For The Year Ended 31 October 2024







DIRECTORS: Mr J S Malhi
Mrs I K Malhi
Mr A Malhi
Mrs B K Malhi





SECRETARY: Mr A Malhi





REGISTERED OFFICE: 35A HIGH STREET
RUISLIP
Middlesex
HA4 7AU





REGISTERED NUMBER: 04341003 (England and Wales)





ACCOUNTANTS: Dawn & Co
35A High Street
Ruislip
Middlesex
HA4 7AU

FINER LIMITED (REGISTERED NUMBER: 04341003)

STATEMENT OF FINANCIAL POSITION
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,764 4,931
Investment property 5 20,618,326 20,264,262
20,624,090 20,269,193

CURRENT ASSETS
Debtors 6 409,863 455,979
Cash at bank and in hand 684,867 1,115,218
1,094,730 1,571,197
CREDITORS
Amounts falling due within one year 7 83,928 62,354
NET CURRENT ASSETS 1,010,802 1,508,843
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,634,892

21,778,036

CREDITORS
Amounts falling due after more than one
year

8

7,605,350

7,751,950
NET ASSETS 14,029,542 14,026,086

CAPITAL AND RESERVES
Called up share capital 2,420 2,420
Revaluation reserve 300,000 300,000
Retained earnings 13,727,122 13,723,666
SHAREHOLDERS' FUNDS 14,029,542 14,026,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

FINER LIMITED (REGISTERED NUMBER: 04341003)

STATEMENT OF FINANCIAL POSITION - continued
31 October 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 July 2025 and were signed on its behalf by:





Mr A Malhi - Director


FINER LIMITED (REGISTERED NUMBER: 04341003)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 October 2024

1. STATUTORY INFORMATION

FINER LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on reducing balance

Investment property
Investment properties are included in the balance sheet at their open market value. No depreciation is charged on investment properties.

Although this accounting policy is in accordance with the applicable accounting standard, SSAP 19, Accounting for investment properties, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

FINER LIMITED (REGISTERED NUMBER: 04341003)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 November 2023 630,984 5,117 636,101
Additions - 833 833
At 31 October 2024 630,984 5,950 636,934
DEPRECIATION
At 1 November 2023
and 31 October 2024 630,984 186 631,170
NET BOOK VALUE
At 31 October 2024 - 5,764 5,764
At 31 October 2023 - 4,931 4,931

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023 20,264,262
Additions 354,064
At 31 October 2024 20,618,326
NET BOOK VALUE
At 31 October 2024 20,618,326
At 31 October 2023 20,264,262

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2016 4,206,000
Valuation in 2019 (2,970,808 )
Valuation in 2022 3,719,054
Cost 15,664,080
20,618,326

Investment properties were valued on a fair value basis on 31 October 2024 by the directors .

6. DEBTORS
31.10.24 31.10.23
£    £   
Amounts falling due within one year:
Other debtors 338,560 335,242

FINER LIMITED (REGISTERED NUMBER: 04341003)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 2024

6. DEBTORS - continued
31.10.24 31.10.23
£    £   
Amounts falling due after more than one year:
Trade debtors 71,303 77,403
Other debtors - 43,334
71,303 120,737

Aggregate amounts 409,863 455,979

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 16,743 17,940
Tax (32,997 ) (32,397 )
Social security and other taxes 11,342 9,942
VAT 18,195 4,390
Other creditors 17,121 15,296
Directors' current accounts 38,503 30,619
Accrued expenses 15,021 16,564
83,928 62,354

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans (see note 9) 7,605,350 7,751,950

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,458,750 7,605,350

9. LOANS

An analysis of the maturity of loans is given below:

31.10.24 31.10.23
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 146,600 146,600

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,458,750 7,605,350

The loan is secured over the company's investment properties.