Fine Grinding Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00376189

Fine Grinding Limited

Filleted Unaudited Financial Statements

31 December 2024

Fine Grinding Limited

Financial Statements

Year ended 31 December 2024

Contents	Pages

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 9

Fine Grinding Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Fine Grinding Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fine Grinding Limited for the year ended 31 December 2024, which comprise the statement of financial position 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Fine Grinding Limited, as a body, in accordance with the terms of our engagement letter dated 22 August 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Fine Grinding Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fine Grinding Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fine Grinding Limited 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 Fine Grinding Limited. You consider that Fine Grinding Limited 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 Fine Grinding Limited. 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.

HEBBLETHWAITES Chartered Accountants

2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ

17 September 2025

Fine Grinding Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	738,026	806,807
Investments	6	9,358	9,358
		---------	---------
		747,384	816,165

Current assets

Stocks		497,000	546,000
Debtors	7	401,694	508,223
Cash at bank and in hand		427,789	251,059
		------------	------------
		1,326,483	1,305,282

Creditors: amounts falling due within one year	8	243,228	252,594
		------------	------------
Net current assets		1,083,255	1,052,688
		------------	------------
Total assets less current liabilities		1,830,639	1,868,853

Provisions

Taxation including deferred tax	83,187	92,194
	------------	------------
Net assets	1,747,452	1,776,659
	------------	------------

Fine Grinding Limited

Statement of Financial Position (continued)

31 December 2024

	2024	2023
Note	£	£

Capital and reserves

Called up share capital	1,925	1,925
Capital redemption reserve	4,110	4,110
Profit and loss account	1,741,417	1,770,624
	------------	------------
Shareholders funds	1,747,452	1,776,659
	------------	------------

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 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 17 September 2025 , and are signed on behalf of the board by:

Mr J Gosling

Director

Company registration number: 00376189

Fine Grinding Limited

Notes to the Financial Statements

Year ended 31 December 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 Black Hole Mine, Foolow Road, Eyam, Derbyshire, S32 5QS.

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.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

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. In the opinion of the directors, there are no judgements or key sources of estimation uncertainty that have a significant impact on the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of Value Added Tax. Revenue is recognised on despatch of the goods.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	10% reducing balance
Motor vehicles	-	20% reducing balance

	Computer equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 24 (2023: 22 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024	395,050	1,825,874	43,275	396,170	21,534	2,681,903
Additions	–	–	6,790	22,000	4,107	32,897
Disposals	–	–	–	( 23,946)	( 4,661)	( 28,607)
	---------	------------	--------	---------	--------	------------
At 31 Dec 2024	395,050	1,825,874	50,065	394,224	20,980	2,686,193
	---------	------------	--------	---------	--------	------------
Depreciation
At 1 Jan 2024	117,281	1,503,902	38,286	196,439	19,188	1,875,096
Charge for the year	7,901	48,296	1,008	41,646	1,422	100,273
Disposals	–	–	–	( 22,541)	( 4,661)	( 27,202)
	---------	------------	--------	---------	--------	------------
At 31 Dec 2024	125,182	1,552,198	39,294	215,544	15,949	1,948,167
	---------	------------	--------	---------	--------	------------
Carrying amount
At 31 Dec 2024	269,868	273,676	10,771	178,680	5,031	738,026
	---------	------------	--------	---------	--------	------------
At 31 Dec 2023	277,769	321,972	4,989	199,731	2,346	806,807
	---------	------------	--------	---------	--------	------------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	144,000
	---------
Impairment
At 1 January 2024 and 31 December 2024	134,642
	---------

Carrying amount
At 31 December 2024	9,358
	---------
At 31 December 2023	9,358
	---------

The company owns 100% of the issued share capital of William Smith (Fluor Spar) Limited

Aggregate capital and reserves

William Smith (Fluor Spar) Limited 2024: £9,358 2023: £9,358

Profit and (loss) for the year

William Smith (Fluor Spar) Limited 2024: £Nil 2023:£Nil

7. Debtors

	2024	2023
	£	£
Trade debtors	301,973	415,498
Other debtors	99,721	92,725
	---------	---------
	401,694	508,223
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	142,979	183,853
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8,319	8,319
Corporation tax	11,824	–
Social security and other taxes	56,331	18,917
Other creditors	23,775	41,505
	---------	---------
	243,228	252,594
	---------	---------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	22,456	21,496
Later than 1 year and not later than 5 years	16,955	25,851
	--------	--------
	39,411	47,347
	--------	--------

10. Related party transactions

Included within creditors at the year end date are loan amounts owed by Fine Grinding Limited to its subsidiary company, in the sum of £8,319 (2023: £8,319). The loan is not subject to any formal repayment terms and neither is any interest chargeable. Fine Grinding Limited provides an unlimited cross guarantee to Lloyds Bank plc as security for any amounts owed to the bank by its subsidiary company. At 31 December 2024 there were no such borrowings.