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REGISTERED NUMBER: 05622640 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 July 2024

for

Finsbury Business House Ltd

Finsbury Business House Ltd (Registered number: 05622640)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Report of the Directors 2

Chartered Certified Accountants' Report 3

Income Statement 4

Balance Sheet 5

Statement of Changes in Equity 6

Cash Flow Statement 7

Notes to the Cash Flow Statement 8

Notes to the Financial Statements 9


Finsbury Business House Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: A Azim
M S Bari
M A Malek





SECRETARY: A Azim





REGISTERED OFFICE: 41 Orsett Road
Grays
Essex
RM17 5DS





REGISTERED NUMBER: 05622640 (England and Wales)





ACCOUNTANTS: ACN Accountants
Chartered Certified Accountants
41 Orsett Road
Grays
Essex
RM17 5DS

Finsbury Business House Ltd (Registered number: 05622640)

Report of the Directors
for the Year Ended 31 July 2024

The directors present their report with the financial statements of the company for the year ended 31 July 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the importation and distribution of garments.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2023 to the date of this report.

A Azim
M S Bari
M A Malek

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A Azim - Director


27 June 2025

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Finsbury Business House Ltd


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Finsbury Business House Ltd for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Finsbury Business House Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Finsbury Business House Ltd and state those matters that we have agreed to state to the Board of Directors of Finsbury Business House Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Finsbury Business House Ltd 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 Finsbury Business House Ltd. You consider that Finsbury Business House Ltd 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 Finsbury Business House Ltd. 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.






ACN Accountants
Chartered Certified Accountants
41 Orsett Road
Grays
Essex
RM17 5DS


27 June 2025

Finsbury Business House Ltd (Registered number: 05622640)

Income Statement
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   

TURNOVER 8,717,664 10,184,832

Cost of sales 5,849,668 7,099,703
GROSS PROFIT 2,867,996 3,085,129

Administrative expenses 643,661 1,670,441
2,224,335 1,414,688

Other operating income 211,459 171,429
OPERATING PROFIT 4 2,435,794 1,586,117

(Gain/loss on disposal of tangible assets - (520 )
2,435,794 1,585,597

Interest payable and similar expenses 37,934 80,103
PROFIT BEFORE TAXATION 2,397,860 1,505,494

Tax on profit 5 600,594 312,833
PROFIT FOR THE FINANCIAL YEAR 1,797,266 1,192,661

Finsbury Business House Ltd (Registered number: 05622640)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 1,925,918 1,930,434

CURRENT ASSETS
Stocks 7 14,100 30,379
Debtors 8 1,881,010 258,943
Cash at bank and in hand 1,711,115 1,884,228
3,606,225 2,173,550
CREDITORS
Amounts falling due within one year 9 2,120,536 1,106,800
NET CURRENT ASSETS 1,485,689 1,066,750
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,411,607

2,997,184

CREDITORS
Amounts falling due after more than one
year

10

328,945

1,026,798
NET ASSETS 3,082,662 1,970,386

CAPITAL AND RESERVES
Called up share capital 11 1,200 1,200
Retained earnings 3,081,462 1,969,186
SHAREHOLDERS' FUNDS 3,082,662 1,970,386

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:




A Azim - Director


Finsbury Business House Ltd (Registered number: 05622640)

Statement of Changes in Equity
for the Year Ended 31 July 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2022 1,200 1,423,525 1,424,725

Changes in equity
Dividends - (647,000 ) (647,000 )
Total comprehensive income - 1,192,661 1,192,661
Balance at 31 July 2023 1,200 1,969,186 1,970,386

Changes in equity
Dividends - (684,990 ) (684,990 )
Total comprehensive income - 1,797,266 1,797,266
Balance at 31 July 2024 1,200 3,081,462 3,082,662

Finsbury Business House Ltd (Registered number: 05622640)

Cash Flow Statement
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,356,043 1,582,292
Interest paid (37,934 ) (80,103 )
Tax paid (299,605 ) (804 )
Net cash from operating activities 2,018,504 1,501,385

Cash flows from investing activities
Purchase of tangible fixed assets - (24,050 )
Sale of tangible fixed assets - 2,617
Net cash from investing activities - (21,433 )

Cash flows from financing activities
Loan repayments in year (821,617 ) (191,326 )
Amount withdrawn by directors (685,010 ) -
Equity dividends paid (684,990 ) (647,000 )
Net cash from financing activities (2,191,617 ) (838,326 )

(Decrease)/increase in cash and cash equivalents (173,113 ) 641,626
Cash and cash equivalents at
beginning of year

2

1,884,228

1,242,602

Cash and cash equivalents at end of
year

2

1,711,115

1,884,228

Finsbury Business House Ltd (Registered number: 05622640)

Notes to the Cash Flow Statement
for the Year Ended 31 July 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31.7.24 31.7.23
£    £   
Profit before taxation 2,397,860 1,505,494
Depreciation charges 4,516 5,313
Loss on revaluation of fixed assets - 520
Finance costs 37,934 80,103
2,440,310 1,591,430
Decrease in stocks 16,279 5,221
Increase in trade and other debtors (723,509 ) (97,959 )
Increase in trade and other creditors 622,963 83,600
Cash generated from operations 2,356,043 1,582,292

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 July 2024
31.7.24 1.8.23
£    £   
Cash and cash equivalents 1,711,115 1,884,228
Year ended 31 July 2023
31.7.23 1.8.22
£    £   
Cash and cash equivalents 1,884,228 1,246,013
Bank overdrafts - (3,411 )
1,884,228 1,242,602


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.23 Cash flow At 31.7.24
£    £    £   
Net cash
Cash at bank and in hand 1,884,228 (173,113 ) 1,711,115
1,884,228 (173,113 ) 1,711,115
Debt
Debts falling due within 1 year (202,096 ) 114,879 (87,217 )
Debts falling due after 1 year (1,026,798 ) 697,853 (328,945 )
(1,228,894 ) 812,732 (416,162 )
Total 655,334 639,619 1,294,953

Finsbury Business House Ltd (Registered number: 05622640)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Finsbury Business House Ltd 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.

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.
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Finsbury Business House Ltd (Registered number: 05622640)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. EMPLOYEES AND DIRECTORS
31.7.24 31.7.23
£    £   
Wages and salaries 153,583 1,182,800
Social security costs 11,700 9,071
Other pension costs 3,764 3,474
169,047 1,195,345

The average number of employees during the year was as follows:
31.7.24 31.7.23

Admin and operation 9 9

31.7.24 31.7.23
£    £   
Directors' remuneration 88,000 1,074,000
Directors' pension contributions to money purchase schemes 2,071 1,786

4. OPERATING PROFIT

The operating profit is stated after charging:

31.7.24 31.7.23
£    £   
Depreciation - owned assets 4,516 5,313

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.7.24 31.7.23
£    £   
Current tax:
UK corporation tax 600,594 312,833
Tax on profit 600,594 312,833

Finsbury Business House Ltd (Registered number: 05622640)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 1,900,329 61,912 1,962,241
DEPRECIATION
At 1 August 2023 - 31,807 31,807
Charge for year - 4,516 4,516
At 31 July 2024 - 36,323 36,323
NET BOOK VALUE
At 31 July 2024 1,900,329 25,589 1,925,918
At 31 July 2023 1,900,329 30,105 1,930,434

7. STOCKS
31.7.24 31.7.23
£    £   
Finished goods 14,100 30,379

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 120,558 -
Other debtors 858,396 253,480
Directors' loan accounts 671,819 -
Tax 226,739 -
Prepayments and accrued income 3,498 5,463
1,881,010 258,943

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 87,217 202,096
Payments on account - 28,875
Trade creditors 820,294 215,810
Tax 1,008,575 480,847
Social security and other taxes 201,056 130,536
Other creditors 3,394 (3,317 )
Pension liability - 28,049
Directors' loan accounts - 22,076
Accruals and deferred income - 1,828
2,120,536 1,106,800

Finsbury Business House Ltd (Registered number: 05622640)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans - 1-2 years 328,945 1,026,798

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
1,200 Ordinary 1 1,200 1,200

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
A Azim
Balance outstanding at start of year - -
Amounts advanced 228,187 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 228,187 -

M S Bari
Balance outstanding at start of year - -
Amounts advanced 228,223 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 228,223 -

M A Malek
Balance outstanding at start of year - -
Amounts advanced 215,409 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 215,409 -

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £684,990 were paid to the directors .