IRIS Accounts Production v25.1.3.33 05098768 Board of Directors Board of Directors 1.11.23 31.10.24 31.10.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050987682023-10-31050987682024-10-31050987682023-11-012024-10-31050987682022-10-31050987682022-11-012023-10-31050987682023-10-3105098768ns15:EnglandWales2023-11-012024-10-3105098768ns14:PoundSterling2023-11-012024-10-3105098768ns10:Director12023-11-012024-10-3105098768ns10:Director22023-11-012024-10-3105098768ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3105098768ns10:SmallEntities2023-11-012024-10-3105098768ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3105098768ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3105098768ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3105098768ns10:AbridgedAccounts2023-11-012024-10-310509876812023-11-012024-10-3105098768ns10:Director32023-11-012024-10-3105098768ns10:Director42023-11-012024-10-3105098768ns10:Director52023-11-012024-10-3105098768ns10:Director62023-11-012024-10-3105098768ns10:CompanySecretary12023-11-012024-10-3105098768ns10:RegisteredOffice2023-11-012024-10-3105098768ns5:CurrentFinancialInstruments2024-10-3105098768ns5:CurrentFinancialInstruments2023-10-3105098768ns5:Non-currentFinancialInstruments2024-10-3105098768ns5:Non-currentFinancialInstruments2023-10-3105098768ns5:ShareCapital2024-10-3105098768ns5:ShareCapital2023-10-3105098768ns5:RetainedEarningsAccumulatedLosses2024-10-3105098768ns5:RetainedEarningsAccumulatedLosses2023-10-3105098768ns5:NetGoodwill2023-11-012024-10-3105098768ns5:LongLeaseholdAssetsns5:LandBuildings2023-11-012024-10-3105098768ns5:PlantMachinery2023-11-012024-10-3105098768ns5:FurnitureFittings2023-11-012024-10-3105098768ns5:MotorVehicles2023-11-012024-10-3105098768ns5:ComputerEquipment2023-11-012024-10-3105098768ns5:Secured2024-10-3105098768ns5:Secured2023-10-31050987681ns10:Director12023-10-31050987681ns10:Director12022-10-31050987681ns10:Director12023-11-012024-10-31050987681ns10:Director12022-11-012023-10-31050987681ns10:Director12024-10-31050987681ns10:Director12023-10-3105098768ns10:Director222023-10-3105098768ns10:Director222022-10-3105098768ns10:Director222023-11-012024-10-3105098768ns10:Director222022-11-012023-10-3105098768ns10:Director222024-10-3105098768ns10:Director222023-10-31
REGISTERED NUMBER: 05098768 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Finney Greyfriars Limited

Finney Greyfriars Limited (Registered number: 05098768)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Finney Greyfriars Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr H Finney
Mrs H L Finney
Mr A J Walley
Mrs S V Walley
Mr J Finney
Miss V Finney





SECRETARY: Mrs H L Finney





REGISTERED OFFICE: 74 Manchester Road
Congleton
Cheshire
CW12 2HT





REGISTERED NUMBER: 05098768 (England and Wales)





ACCOUNTANTS: Attwoods
Perrott House
17 Bridge Street
Pershore
Worcestershire
WR10 1AJ

Finney Greyfriars Limited (Registered number: 05098768)

Abridged Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 29,932 34,723
29,932 34,723

CURRENT ASSETS
Stocks 54,395 111,120
Debtors 124,275 114,138
178,670 225,258
CREDITORS
Amounts falling due within one year 470,483 470,535
NET CURRENT LIABILITIES (291,813 ) (245,277 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(261,881

)

(210,554

)

CREDITORS
Amounts falling due after more than one
year

(65,552

)

(94,719

)

PROVISIONS FOR LIABILITIES (4,195 ) (5,125 )
NET LIABILITIES (331,628 ) (310,398 )

CAPITAL AND RESERVES
Called up share capital 450 450
Retained earnings (332,078 ) (310,848 )
SHAREHOLDERS' FUNDS (331,628 ) (310,398 )

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.

Finney Greyfriars Limited (Registered number: 05098768)

Abridged Balance Sheet - 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 July 2025 and were signed on its behalf by:




Mr H Finney - Director



Mrs H L Finney - Director


Finney Greyfriars Limited (Registered number: 05098768)

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

1. STATUTORY INFORMATION

Finney Greyfriars 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, was amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 50% on reducing balance

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits.

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

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow Group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


Finney Greyfriars Limited (Registered number: 05098768)

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

2. ACCOUNTING POLICIES - continued
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.

Assets that are held by Company under leases which transfer to the Company substantially all the risks and rewards of ownership are classified as being held under finance leases. Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above). Contingent rentals are recognised as expenses in the periods in which they are incurred.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Contingent rentals arising under operating leases are recognised as an expense in the period in which they are incurred.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight­ line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

Finney Greyfriars Limited (Registered number: 05098768)

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

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023
and 31 October 2024 650,000
AMORTISATION
At 1 November 2023
and 31 October 2024 650,000
NET BOOK VALUE

At 31 October 2024 -
At 31 October 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023 246,447
Additions 853
At 31 October 2024 247,300
DEPRECIATION
At 1 November 2023 211,724
Charge for year 5,644
At 31 October 2024 217,368
NET BOOK VALUE
At 31 October 2024 29,932
At 31 October 2023 34,723

6. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Bank overdrafts 55,066 43,702
Bank loans 94,719 130,198
149,785 173,900

Bank loans and overdrafts are secured by way of a fixed and floating charge over all assets of the Company.

Finney Greyfriars Limited (Registered number: 05098768)

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

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.10.24 31.10.23
£    £   
Mr H Finney
Balance outstanding at start of year 32,204 64,162
Amounts advanced 110,361 73,228
Amounts repaid (81,789 ) (105,186 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,776 32,204

Mrs H L Finney
Balance outstanding at start of year 32,204 64,163
Amounts advanced 110,361 73,227
Amounts repaid (81,789 ) (105,186 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,776 32,204

8. ULTIMATE CONTROLLING PARTIES

The ultimate controlling parties are Mr H Finney and Mrs H L Finney by virtue of their ownership of 97% of the issued share capital.