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COMPANY REGISTRATION NUMBER: 13918278
Findfield Limited
Filleted Unaudited Financial Statements
30 November 2024
Findfield Limited
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
480,000
480,000
Current assets
Debtors
5
4,743
7,115
Cash at bank and in hand
83
48
-------
-------
4,826
7,163
Creditors: amounts falling due within one year
6
( 118,516)
( 121,521)
----------
----------
Net current liabilities
( 113,690)
( 114,358)
----------
----------
Total assets less current liabilities
366,310
365,642
Creditors: amounts falling due after more than one year
7
( 367,200)
( 367,200)
----------
----------
Net liabilities
( 890)
( 1,558)
----------
----------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 990)
( 1,658)
----
-------
Shareholders deficit
( 890)
( 1,558)
----
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Findfield Limited
Statement of Financial Position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 23 July 2025 , and are signed on behalf of the board by:
Mr M Broner
Director
Company registration number: 13918278
Findfield Limited
Notes to the Financial Statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Woodstock Avenue, London, NW11 9RG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on the going concern basis notwithstanding the Company's net current liabilities. The Director considers this to be appropriate given the continued support of the company's director and creditors. As such the Director believes it is appropriate to prepare the financial statements on a going concern basis because the company is in a position to meet all of its obligations for the foreseeable future.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Other than those stated below, there were no material judgements, estimates and assumptions that affected the amounts reported in the year.
Revenue recognition
The turnover of the company is represented by rents and charges receivable in respect of its investment properties.
Tangible assets
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition - i. Investment properties are held at fair value. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise; and ii. No depreciation is provided in respect of investment properties applying the fair value model.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
4. Tangible assets
Long leasehold property
£
Cost
At 1 December 2023 and 30 November 2024
480,000
----------
Carrying amount
At 30 November 2024
480,000
----------
At 30 November 2023
480,000
----------
5. Debtors
2024
2023
£
£
Other debtors
4,743
7,115
-------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
116,302
121,021
Other creditors
2,214
500
----------
----------
118,516
121,521
----------
----------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
367,200
367,200
----------
----------
8. Related party transactions
Other creditors includes £534 (2023: £500) due to the director. The loan is interest free and repayable on demand.