Finic Electrical Services Ltd

	Page
Company Information	1
Director's Report	2
Profit and Loss Account	3
Balance Sheet	4
Statement of Changes in Equity	5
Notes to the Financial Statements	6—9

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Company No. 06823809

Director's Report For The Year Ended 30 June 2025

Director's Report

The director presents his report and the financial statements for the year ended 30 June 2025.

Principal Activity

The company's principal activity continues to be that of Industrial and Commercial Electrical Contractors.

Directors

The director who held office during the year were as follows:

Mr David Pearce

Statement of Director's Responsibilities

The director is responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director 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 of the profit or loss of the company for that period. In preparing the financial statements the director is required to:

select suitable accounting policies and then apply them consistently;
make judgments 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.

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

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small Company Rules

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

On behalf of the board

Mr David Pearce

Director

8th September 2025

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Finic Electrical Services Ltd

Profit and Loss Account

For The Year Ended 30 June 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER		180,491	197,595
Cost of sales		(132,454 )	(135,231 )

GROSS PROFIT		48,037	62,364

Administrative expenses		(8,428 )	(13,388 )

OPERATING PROFIT	3	39,609	48,976
Loss on disposal of fixed assets		-	(249 )
Other interest receivable and similar income		85	21

PROFIT BEFORE TAXATION		39,694	48,748
Tax on Profit	6	(7,542 )	(9,262 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		32,152	39,486

The notes on pages 6 to 9 form part of these financial statements.

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Finic Electrical Services Ltd

Balance Sheet

As At 30 June 2025

Balance Sheet

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	7		3,215		4,286

			3,215		4,286
CURRENT ASSETS
Stocks	8	1,020		1,220
Debtors	9	29,554		37,432
Cash at bank and in hand		35,188		25,472

		65,762		64,124
Creditors: Amounts Falling Due Within One Year	10	(36,192 )		(28,088 )

NET CURRENT ASSETS (LIABILITIES)			29,570		36,036

TOTAL ASSETS LESS CURRENT LIABILITIES			32,785		40,322

PROVISIONS FOR LIABILITIES
Deferred Taxation	11		(627 )		(830 )

NET ASSETS			32,158		39,492

CAPITAL AND RESERVES
Called up share capital	12		5		5
Profit and Loss Account			32,153		39,487

SHAREHOLDERS' FUNDS			32,158		39,492

For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Mr David Pearce

Director

8th September 2025

The notes on pages 6 to 9 form part of these financial statements.

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Finic Electrical Services Ltd

Statement of Changes in Equity

For The Year Ended 30 June 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 July 2023	5	46,477	46,482
Profit for the year and total comprehensive income	-	39,486	39,486

Dividends paid	-	(46,476)	(46,476)
Purchase of own shares	-	-	-

As at 30 June 2024 and 1 July 2024	5	39,487	39,492


Profit for the year and total comprehensive income	-	32,152	32,152

Dividends paid	-	(39,486)	(39,486)
Purchase of own shares	-	-	-

As at 30 June 2025	5	32,153	32,158

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Finic Electrical Services Ltd

Notes to the Financial Statements

For The Year Ended 30 June 2025

Notes to the Financial Statements

1. General Information

Finic Electrical Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06823809 . The registered office is Chapel Barn, Shop, Bude, Cornwall, EX23 9SQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25%
Motor Vehicles	25%
Computer Equipment	25%

2.5. Stocks and Work in Progress

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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Finic Electrical Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Depreciation of tangible fixed assets	1,071	1,429

4. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	77,074	79,783
Social security costs	7,653	7,373
Other pension costs	1,598	1,670

	86,325	88,826

5. Average Number of Employees

Average number of employees, including directors, during the year was:

	2025	2024
Office and administration	2	2
Manufacturing	2	2

	4	4

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Finic Electrical Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

6. Tax on Profit

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	19.0%	19.0%	7,745	9,370
Deferred Tax
Deferred taxation			(203 )	(108 )


Total tax charge for the period			7,542	9,262


			2025	2024
			£	£
Profit before tax			39,694	48,748

Breakdown of tax charge is:
Tax on profit at 19% (UK standard rate)			7,542	9,262
Goodwill/depreciation not allowed for tax			203	318
Capital allowances			-	(210 )
Short term timing differences			(203 )	(108 )

Total tax charge for the period			7,542	9,262

7. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 July 2024	12,405	36,390	5,657	54,452

As at 30 June 2025	12,405	36,390	5,657	54,452

Depreciation
As at 1 July 2024	11,876	34,139	4,151	50,166
Provided during the period	132	562	377	1,071

As at 30 June 2025	12,008	34,701	4,528	51,237

Net Book Value
As at 30 June 2025	397	1,689	1,129	3,215

As at 1 July 2024	529	2,251	1,506	4,286

8. Stocks

	2025	2024
	£	£
Materials	1,020	1,220

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Finic Electrical Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

9. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	28,469	37,230
Prepayments and accrued income	1,085	202

	29,554	37,432

10. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1,801	2,008
Bank loans and overdrafts	8,605	5,215
Corporation tax	7,745	9,370
Social security PAYE (Current liabilities - creditors < 1 year)	798	625
VAT (Current liabilities - creditors < 1 year)	8,982	10,326
Social security NI (Current liabilities - creditors < 1 year)	1,040	251
Workplace Pension Scheme Current Liability	304	293
Sales Tax Conrol Account (Current liabilities - creditors < 1 year)	6,917	-

	36,192	28,088

11. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	627	830

12. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	5	5

13. Directors Advances, Credits and Guarantees

Dividends paid to directors

	2025	2024
	£	£
Mr David Pearce	11,450	13,478

14. Dividends

	2025	2024
	£	£
On equity shares:
Interim dividend paid	39,486	46,476

15. Controlling Party

The company's controlling party is David Pearce by virtue of having ownership of the majority of the issued share capital in the company and more than 25% of the voting rights.

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Director	Mr David Pearce

Secretary	Mrs Susan Pearce

Company Number	06823809

Registered Office	Chapel Barn
	Shop
	Bude
	Cornwall
	EX23 9SQ

Business	Chapel Barn
	Shop
	Bude
	Cornwall
	EX23 9SQ