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REGISTERED NUMBER: 07007438 (England and Wales)















Five Fingers (Holdings) Limited

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 November 2024






Five Fingers (Holdings) Limited (Registered number: 07007438)






Contents of the Consolidated Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18


Five Fingers (Holdings) Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mr S M Finch
Mr T L Finger
Mr A F Hynd





SECRETARY: Mr S M Finch





REGISTERED OFFICE: Unit 1d
Hawthorn Estate
Avis Way
Newhaven
East Sussex
BN9 0DJ





REGISTERED NUMBER: 07007438 (England and Wales)





AUDITORS: Swindells LLP
Chartered Accountants
and Statutory Auditor
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Five Fingers (Holdings) Limited (Registered number: 07007438)

Group Strategic Report
for the Year Ended 30 November 2024

The directors present their strategic report of the company and the group for the year ended 30 November 2024.

REVIEW OF BUSINESS
The directors are pleased with the result of the group for the year, as turnover has increased in comparison to the previous year, and the margins remain good and better than previous years.

The group continues to invest in the design and development of its products and leads the way in desking technologies. The directors regard the investment in research and development as integral to the continued success of the business and ensuring the customers are provided with a product range and customer service of the highest quality and specification.

Research and development activity continues to be very busy, with the group looking to introduce new products to satisfy new work trends, including the ongoing provision of mobile desking/floor boxes to facilitate rapid moves and changes.

Major repair works on the Newhaven factory facility were completed during 2024, and new factory equipment was purchased..

2025 is looking strong in terms of orders secured in both the UK and APAC regions.

PRINCIPAL RISKS AND UNCERTAINTIES
The management of the business and execution of the group's strategy are subject to the following risks:

Foreign currency risk
A key business risk affecting the group is foreign exchange exposure. The group protects itself against this risk by taking out forward exchange contracts over a number of currencies.

Availability of suitable raw materials
The group continues to develop its Asian supply chain in order to be able to respond quickly to client demands and to improve the group's carbon footprint.

We continue to see severe shipping disruptions impacting our overseas projects. To mitigate this, we build and ship projects earlier to meet delivery deadlines.

Price risk
Consequences of the various geopolitical events around the world are leading to unprecedented price increases affecting all areas of the business including materials, energy, insurance and property rentals.

The group is constantly looking at design/manufacturing improvements to mitigate the impact of the steep cost increases.


Five Fingers (Holdings) Limited (Registered number: 07007438)

Group Strategic Report
for the Year Ended 30 November 2024

KEY PERFORMANCE INDICATORS
The board and the management team monitor the performance of the business by utilising a number of key performance indicators:

2024 2023 2022


Turnover £21,252,845 £15,629,427 £19,920,737
Sales growth 36.0% (22% ) 95%
Gross margin £11,136,596 £7,458,825 £9,713,584
Gross margin % 52% 48% 49%

ON BEHALF OF THE BOARD:





Mr S M Finch - Director


16 July 2025

Five Fingers (Holdings) Limited (Registered number: 07007438)

Report of the Directors
for the Year Ended 30 November 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 November 2024.

In accordance with s414c of the Companies Act, the company has set out information regarding principal risks and uncertainties, a fair review of the business and key performance indicators in the strategic report, that would otherwise have been set out in the directors' report.

PRINCIPAL ACTIVITIES
The principal activity of the company during the period was that of a holding company to the group. The principal activity of the group is the manufacture of specialised bank and control room furniture.

DIVIDENDS
The total distribution of dividends for the year ended 30 November 2024 will be £5,446,242 (2023: £780,160).

FUTURE DEVELOPMENTS
The directors aim to continue to build upon the success of the SBFI product range and to increase the group's share in the global market in financial and control room furniture.

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

Mr S M Finch
Mr T L Finger
Mr A F Hynd

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


Five Fingers (Holdings) Limited (Registered number: 07007438)

Report of the Directors
for the Year Ended 30 November 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mr S M Finch - Director


16 July 2025

Report of the Independent Auditors to the Members of
Five Fingers (Holdings) Limited

Opinion
We have audited the financial statements of Five Fingers (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 November 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Report of the Independent Auditors to the Members of
Five Fingers (Holdings) Limited


Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on pages four and five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Five Fingers (Holdings) Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- no reliance has been placed on the parent company's internal controls, but substantive testing has
been carried out to test the validity of transactions, with transactions vouched to corresponding
third party documentation where appropriate.
- the UK subsidiary company's internal controls have been discussed and understood prior to our
audit testing. Internal controls have been tested through walkthrough testing, to assess whether
controls are adequate, whether they are being followed, and whether irregularities and fraud are
prevented.
- deficiencies in internal controls have been highlighted and explained to management, along with
recommendations as to how deficiencies can be improved and the risk of irregularity and fraud
occurrence minimised.
- representations have been provided by management that there were no identified cases of fraud or
instances of non-compliance during or since the accounting period.
- substantive testing has been carried out to test the validity of transactions, with entries in the
accounting system vouched to corresponding third party documentation and evidence of
appropriate authorisation.
- representations have been obtained from the component auditors of overseas subsidiary
companies, and no irregularities or instances of fraud in overseas subsidiaries have been reported to
us.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Five Fingers (Holdings) Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Melanie Richardson BA(Hons) FCA (Senior Statutory Auditor)
for and on behalf of Swindells LLP
Chartered Accountants
and Statutory Auditor
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

23 July 2025

Five Fingers (Holdings) Limited (Registered number: 07007438)

Consolidated
Income Statement
for the Year Ended 30 November 2024

2024 2023
Notes £    £   

TURNOVER 3 21,252,845 15,629,427

Cost of sales 10,116,249 8,170,602
GROSS PROFIT 11,136,596 7,458,825

Administrative expenses 4,514,301 4,867,021
OPERATING PROFIT 5 6,622,295 2,591,804

Interest receivable and similar income 251,571 172,758
6,873,866 2,764,562
Fair value gains/(losses) on foreign
exchange contracts

(22,607

)

(64,907

)
6,851,259 2,699,655

Interest payable and similar expenses 7 11,161 274
PROFIT BEFORE TAXATION 6,840,098 2,699,381

Tax on profit 8 1,519,124 930,723
PROFIT FOR THE FINANCIAL YEAR 5,320,974 1,768,658
Profit attributable to:
Owners of the parent 5,320,974 1,768,658

Five Fingers (Holdings) Limited (Registered number: 07007438)

Consolidated
Other Comprehensive Income
for the Year Ended 30 November 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 5,320,974 1,768,658


OTHER COMPREHENSIVE INCOME
Currency translation differences (83,389 ) 14,397
Income tax relating to other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

(83,389

)

14,397
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

5,237,585

1,783,055

Total comprehensive income attributable to:
Owners of the parent 5,237,585 1,783,055

Five Fingers (Holdings) Limited (Registered number: 07007438)

Consolidated Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 490,893 593,425
Tangible assets 12 1,403,652 1,056,974
Investments 13 - -
1,894,545 1,650,399

CURRENT ASSETS
Stocks 14 1,961,479 2,612,358
Debtors 15 3,047,548 3,050,007
Cash at bank and in hand 10,026,077 10,714,429
15,035,104 16,376,794
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

16

5,554,471

6,302,297
NET CURRENT ASSETS 9,480,633 10,074,497
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,375,178

11,724,896

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

17

-

(8,952

)

PROVISIONS FOR LIABILITIES 20 (180,016 ) (312,125 )
NET ASSETS 11,195,162 11,403,819

CAPITAL AND RESERVES
Called up share capital 21 828,267 828,267
Retained earnings 22 10,366,895 10,575,552
SHAREHOLDERS' FUNDS 11,195,162 11,403,819

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2025 and were signed on its behalf by:





Mr A F Hynd - Director


Five Fingers (Holdings) Limited (Registered number: 07007438)

Company Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 - -
Investments 13 3,959,618 3,959,618
3,959,618 3,959,618

CURRENT ASSETS
Cash at bank 22,733 22,838

CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

16

3,133,769

3,133,769
NET CURRENT LIABILITIES (3,111,036 ) (3,110,931 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

848,582

848,687

CAPITAL AND RESERVES
Called up share capital 21 828,267 828,267
Retained earnings 22 20,315 20,420
SHAREHOLDERS' FUNDS 848,582 848,687

Company's profit for the financial year 5,446,137 789,616

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2025 and were signed on its behalf by:





Mr A F Hynd - Director


Five Fingers (Holdings) Limited (Registered number: 07007438)

Consolidated Statement of Changes in Equity
for the Year Ended 30 November 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 December 2022 828,267 9,572,657 10,400,924

Changes in equity
Dividends - (780,160 ) (780,160 )
Total comprehensive income - 1,783,055 1,783,055
Balance at 30 November 2023 828,267 10,575,552 11,403,819

Changes in equity
Dividends - (5,446,242 ) (5,446,242 )
Total comprehensive income - 5,237,585 5,237,585
Balance at 30 November 2024 828,267 10,366,895 11,195,162

Five Fingers (Holdings) Limited (Registered number: 07007438)

Company Statement of Changes in Equity
for the Year Ended 30 November 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 December 2022 828,267 10,964 839,231

Changes in equity
Dividends - (780,160 ) (780,160 )
Total comprehensive income - 789,616 789,616
Balance at 30 November 2023 828,267 20,420 848,687

Changes in equity
Dividends - (5,446,242 ) (5,446,242 )
Total comprehensive income - 5,446,137 5,446,137
Balance at 30 November 2024 828,267 20,315 848,582

Five Fingers (Holdings) Limited (Registered number: 07007438)

Consolidated Cash Flow Statement
for the Year Ended 30 November 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 6,112,411 4,478,824
Interest paid (11,161 ) (274 )
Tax paid (1,053,782 ) (1,201,217 )
Net cash from operating activities 5,047,468 3,277,333

Cash flows from investing activities
Purchase of tangible fixed assets (461,928 ) (130,521 )
Sale of tangible fixed assets 4,168 -
Interest received 251,571 172,758
Net cash from investing activities (206,189 ) 42,237

Cash flows from financing activities
Loan repayments in year - (269,068 )
Equity dividends paid (5,446,242 ) (780,160 )
Net cash from financing activities (5,446,242 ) (1,049,228 )

(Decrease)/increase in cash and cash equivalents (604,963 ) 2,270,342
Cash and cash equivalents at beginning
of year

2

10,714,429

8,420,314
Effect of foreign exchange rate changes (83,389 ) 23,773
Cash and cash equivalents at end of
year

2

10,026,077

10,714,429

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 November 2024

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

2024 2023
£    £   
Profit before taxation 6,840,098 2,699,381
Depreciation charges 217,771 218,720
Profit on disposal of fixed assets (4,168 ) -
Finance costs 11,161 274
Finance income (251,571 ) (172,758 )
6,813,291 2,745,617
Decrease in stocks 650,879 817,862
Decrease in trade and other debtors 840 1,465,238
Decrease in trade and other creditors (1,352,599 ) (549,893 )
Cash generated from operations 6,112,411 4,478,824

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 30 November 2024
30.11.24 1.12.23
£    £   
Cash and cash equivalents 10,026,077 10,714,429
Year ended 30 November 2023
30.11.23 1.12.22
£    £   
Cash and cash equivalents 10,714,429 8,420,314


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.23 Cash flow At 30.11.24
£    £    £   
Net cash
Cash at bank and in hand 10,714,429 (688,352 ) 10,026,077
10,714,429 (688,352 ) 10,026,077
Total 10,714,429 (688,352 ) 10,026,077

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Five Fingers (Holdings) 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 4 ‘Statement of Financial Position’ - Reconciliation of the opening and closing number
of shares;
- Section 7 ‘Statement of Cash Flows’ - Presentation of a statement of cash flow and related
notes and disclosures;
- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ -
Carrying amounts, interest income/expense and net gains/losses for each category of financial
instrument; basis of determining fair values; details of collateral, loan defaults or breaches,
details of hedges, hedging fair value changes recognised in profit or loss and in other
comprehensive income;
- Section 33 ‘Related Party Disclosures’ -Compensation for key management personnel.

Basis of consolidation
The consolidated financial statements incorporate the financial statements of the company and its subsidiary undertakings.

Subsidiaries are all entities over which the company has the power to govern the financial and operating policies generally accompanying a shareholding of more than one half of the voting rights. Subsidiaries are fully consolidated from the date on which this power is transferred to the company.

Related party exemption
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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Stock provision
Stocks are valued at the lower of cost and net realisable value. Net realisable value includes where necessary, provisions for slow moving and obsolete stocks. Calculation of these provisions requires judgements to be made which include forecasts of consumer demand and the promotional, competitive and economic environment.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities is as follows:

Warranties
The warranty provision is made based on best estimates of future cash outflows in respect of those products still within the warranty period at the year end, based on previous claims by customers and current sales volumes.

Provision is made for liabilities arising in respect of expected warranty claims on warranties provided in conjunction with the sale of goods.

Turnover
Turnover is recognised net of VAT at the fair value of the consideration received or receivable for the sale of goods and services in the ordinary course of business. Fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Sale of goods is recognised when the group's goods have been installed at the customer's premises and have been accepted by the client.

In the case of long term contracts, credit is taken appropriate to the stage of completion when the outcome of the contract can be measured with reasonable certainty.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 33% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the assets and is credited or charged to profit or loss.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.

Financial instruments
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

Assets and liabilities of overseas subsidiaries (including goodwill and fair value adjustments in relation to overseas subsidiaries) are translated into the Group’s presentation currency at the rate ruling at the reporting date. Income and expenses of overseas subsidiaries are translated at the average rate for the year as the directors consider this to be a reasonable approximation to the rate at the date of the transaction. Translation differences are recognised in other comprehensive income and accumulated in equity.

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.

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

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

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Provisions
Provisions are recognised when the group has a legal or constructive present obligation as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in the profit or loss in the period in which it arises.

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Sale of goods 18,637,192 13,786,505
Delivery 1,591,084 1,130,799
Installation 1,019,803 706,456
Other income 4,766 5,667
21,252,845 15,629,427

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

3. TURNOVER - continued

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 10,003,850 7,335,123
Europe 3,683,625 1,350,016
Rest of World 7,565,370 6,944,288
21,252,845 15,629,427

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,669,973 2,429,966
Social security costs 297,880 261,588
Other pension costs 222,215 180,194
3,190,068 2,871,748

The average number of employees during the year was as follows:
2024 2023

Production staff 50 46
Administrative staff 5 5
Sales staff 7 7
62 58

2024 2023
£    £   
Directors' remuneration 357,710 324,600
Directors' pension contributions to money purchase schemes 86,193 57,173

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 276,044 222,859
Pension contributions to money purchase schemes 35,283 36,523

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

4. EMPLOYEES AND DIRECTORS - continued

The directors of Five Fingers (Holdings) Limited are under employment contracts of the subsidiary SBFI Group Limited. During the year, there were 3 (2023 - 3) directors of Five Fingers (Holdings) Limited with a total cost of £486,547 (2023 £420,240). There were no other staff or associated costs within the company.

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 16,789 15,182
Other operating leases 984,758 957,419
Depreciation - owned assets 115,250 115,394
Profit on disposal of fixed assets (4,168 ) -
Goodwill amortisation 102,532 102,487
Foreign exchange differences 86,366 (9,254 )

6. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

18,825

27,250
Auditors' remuneration for non audit work 850 3,500

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest - 2,457
Other interest 11,161 -
Leasing - (2,183 )
11,161 274

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 1,644,720 687,504
(Over)/under provision in previous year 6,513 -
Foreign current tax on profits - (847 )
Total current tax 1,651,233 686,657

Deferred tax:
Movement in deferred tax (132,109 ) 244,066
Tax on profit 1,519,124 930,723

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 6,840,098 2,699,381
Profit multiplied by the standard rate of corporation tax in the UK
of 25 % (2023 - 23.010 %)

1,710,025

621,128

Effects of:
Expenses not deductible for tax purposes 29,153 31,048
Capital allowances in excess of depreciation (99,595 ) (2,877 )
Adjustments to tax charge in respect of previous periods 6,513 -
Overseas income exemption - 38,205


Deferred tax charge (132,109 ) 244,066

Effect of overseas tax rates 5,137 (847 )
Total tax charge 1,519,124 930,723

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

8. TAXATION - continued

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Currency translation differences (83,389 ) - (83,389 )

2023
Gross Tax Net
£    £    £   
Currency translation differences 14,397 - 14,397

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 5,446,242 780,160

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 2,050,189
AMORTISATION
At 1 December 2023 1,456,764
Amortisation for year 102,532
At 30 November 2024 1,559,296
NET BOOK VALUE
At 30 November 2024 490,893
At 30 November 2023 593,425

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

11. INTANGIBLE FIXED ASSETS - continued

Group

The amortisation charge for the year and any impairment losses and reversals of past impairment losses are recognised within administrative expenses.

Company

The company had no intangible fixed assets at 30 November 2024 or 30 November 2023.

12. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 December 2023 1,422,421 201,095 564,843
Additions - - 434,220
Disposals - - (137,349 )
Exchange differences - (35 ) -
At 30 November 2024 1,422,421 201,060 861,714
DEPRECIATION
At 1 December 2023 519,358 201,095 480,972
Charge for year 20,244 - 58,888
Eliminated on disposal - - (137,349 )
Exchange differences - (35 ) -
At 30 November 2024 539,602 201,060 402,511
NET BOOK VALUE
At 30 November 2024 882,819 - 459,203
At 30 November 2023 903,063 - 83,871

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

12. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2023 350,330 56,595 33,356 2,628,640
Additions 27,708 - - 461,928
Disposals - - - (137,349 )
Exchange differences (1 ) - (5 ) (41 )
At 30 November 2024 378,037 56,595 33,351 2,953,178
DEPRECIATION
At 1 December 2023 284,473 55,944 29,824 1,571,666
Charge for year 33,756 1,151 1,211 115,250
Eliminated on disposal - - - (137,349 )
Exchange differences (1 ) - (5 ) (41 )
At 30 November 2024 318,228 57,095 31,030 1,549,526
NET BOOK VALUE
At 30 November 2024 59,809 (500 ) 2,321 1,403,652
At 30 November 2023 65,857 651 3,532 1,056,974

Company

The company had no tangible fixed assets at 30 November 2024 or 30 November 2023.

13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 December 2023
and 30 November 2024 3,959,618
NET BOOK VALUE
At 30 November 2024 3,959,618
At 30 November 2023 3,959,618

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

13. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

SBFI Group Limited
Registered office: 2nd Floor, Landmark House 69 Leadenhall Street And, 94 And 95 Fenchurch Street, London, England, EC3A 2DB
Nature of business: Manufacture of bank and control room furniture
%
Class of shares: holding
Ordinary 100.00
Ordinary A 100.00

SBFI Australia PTY Limited
Registered office: Level 16, Tower 2, Darling Park, 201 Sussex St, Sydney NSW 2000
Nature of business: Sales office
%
Class of shares: holding
Ordinary 100.00

SBFI Australia Pty Limited qualifies for small company audit exemptions in Australia, where the company is incorporated, and consequently its financial statements have not been audited.

SBFI Limited (Hong Kong)
Registered office: 74 Wyndham Place, 40-44 Wyndham Street Central, Hong Kong
Nature of business: Sales office
%
Class of shares: holding
Ordinary 100.00

SBFI Singapore PTE Limited
Registered office: Beach Road 38, 29-11 City Beach Road, 189767, Singapore
Nature of business: Sales office
%
Class of shares: holding
Ordinary 100.00


Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

14. STOCKS

Group
2024 2023
£    £   
Work-in-progress 1,562,959 1,899,013
Finished goods 398,520 713,345
1,961,479 2,612,358

Company

The company had no stocks at 30 November 2024 or 30 November 2023.

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Trade debtors 2,463,630 2,790,111
Provision for bad debts (34,823 ) (57,221 )
Other debtors 28,180 45,682
Tax - 1,619
Prepayments and accrued income 590,561 269,816
3,047,548 3,050,007

Company

The company had no debtors at 30 November 2024 or 30 November 2023.

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 973,071 542,816 - -
Amounts owed to group undertakings - - 3,133,739 3,133,739
Tax 1,029,791 433,959 - -
Social security and other taxes 85,053 99,170 - -
VAT 51,377 166,634 - -
Other creditors 25,415 60,730 - -
Wages and salaries control 14,725 23,465 - -
Accruals and deferred income 3,375,039 4,975,523 30 30
5,554,471 6,302,297 3,133,769 3,133,769

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
2024 2023
£    £   
Other creditors - 8,952

Company

The company had no creditors due after more than one year at 30 November 2024 or 30 November 2023.

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 455,834 469,135
Between one and five years 1,029,480 1,204,036
In more than five years - 29,042
1,485,314 1,702,213

The aggregate amount of operating lease payments recognised as an expense during the year was £501,207 (2023 - £545,261).

19. FINANCIAL INSTRUMENTS

The group uses foreign currency forward contracts to manage the foreign exchange risk of future transactions and cash flows.

The contracts are valued based on available market data. The group does not adopt hedge accounting for forward exchange contracts and, consequently, fair value gains and losses are recognised in profit or loss.

At the balance sheet date, instruments measured at fair value through profit or loss were valued at a gain of £2,011 (2023: loss of £20,596).


Company

The company had no financial instruments at 30 November 2024 or 30 November 2023.

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

20. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 127,710 259,819
Other provisions
Dilapidations provision 52,306 52,306

Aggregate amounts 180,016 312,125

Group
Deferred Other
tax provisions
£    £   
Balance at 1 December 2023 259,819 52,306
Provided during year (132,109 ) -
Balance at 30 November 2024 127,710 52,306

The dilapidations provision represents management's best estimate of the future cash outflows in respect of the cost of rectifying alterations made to leasehold property.

Company

The company had no provisions at 30 November 2024 or 30 November 2023.

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
828,267 Ordinary £1 828,267 828,267

The company‘s Ordinary shares, which carry no right to fixed income, each carry the right to one vote at general meetings of the company.

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

22. RESERVES

Group
Retained
earnings
£   

At 1 December 2023 10,575,552
Profit for the year 5,320,974
Dividends (5,446,242 )
Currency translation differences
(OCI)

(83,389

)

At 30 November 2024 10,366,895

Company
Retained
earnings
£   

At 1 December 2023 20,420
Profit for the year 5,446,137
Dividends (5,446,242 )
At 30 November 2024 20,315

Retained earnings
Cumulative profit and loss net of distributions to owners.

23. PENSION COMMITMENTS

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

24. ULTIMATE PARENT ENTITY

Five Fingers LLLP (incorporated in the USA) is regarded by the directors as being the company's ultimate parent entity.

25. CAPITAL COMMITMENTS

The group has not entered into any contracts at the year end and there were no capital commitments at the year end (2023: £176,000).

Company

The company had no capital commitments at 30 November 2024 or 30 November 2023.

Five Fingers (Holdings) Limited (Registered number: 07007438)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 November 2024

26. RELATED PARTY DISCLOSURES

During the year, the group made sales to an entity under common control of £1,311,685 (2023 - £1,720,299), recharged overhead costs totalling £45,166 (2023 - £nil), and made purchases from the same company of £10,305 (2023 - £23,054). At the balance sheet date this entity owed the group £340,356 (2023 - £322,075). These amounts are unsecured, interest free, and repayable on demand.

27. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr T L Finger.