Company Registration No. 01755609 (England and Wales)
Finsbury Business Centre Limited(the)
Unaudited accounts
for the year ended 31 March 2025
Finsbury Business Centre Limited(the)
Unaudited accounts
Contents
Finsbury Business Centre Limited(the)
Company Information
for the year ended 31 March 2025
Directors
Primrose Pearl Hudson
Hugh James Hudson
Martin Arthur Hudson
Ian Alexander Hudson
Secretary
Hugh James Hudson
Company Number
01755609 (England and Wales)
Registered Office
Unit 302
40 Bowling Green Lane
London
EC1R 0NE
Accountants
GoForma
Forma House
40 Bowling Green Ln
London
EC1R 0NE
Finsbury Business Centre Limited(the)
Statement of financial position
as at 31 March 2025
Tangible assets
1,382,287
1,488,676
Debtors
4,691,164
4,905,516
Cash at bank and in hand
318,566
268,459
Creditors: amounts falling due within one year
(511,654)
(829,208)
Net current assets
4,498,076
4,344,767
Total assets less current liabilities
5,914,510
5,833,443
Provisions for liabilities
Deferred tax
(35,124)
(34,067)
Net assets
5,879,386
5,799,376
Called up share capital
1,000
1,000
Revaluation reserve
423,581
459,739
Profit and loss account
5,454,805
5,338,637
Shareholders' funds
5,879,386
5,799,376
For the year ending 31 March 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2025 and were signed on its behalf by
Hugh James Hudson
Director
Company Registration No. 01755609
Finsbury Business Centre Limited(the)
Notes to the Accounts
for the year ended 31 March 2025
Finsbury Business Centre Limited(the) is a private company, limited by shares, registered in England and Wales, registration number 01755609. The registered office is Unit 302, 40 Bowling Green Lane, London, EC1R 0NE.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at valuation 31st March 2025 plus additions at cost less depreciation.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases:
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 asset, and is credited or charged to profit or loss.
Land & buildings
Over the lease period
Plant & machinery
15% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
25% straight line
Impairment of Fixed Assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank
overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Finsbury Business Centre Limited(the)
Notes to the Accounts
for the year ended 31 March 2025
The company 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 in the company's balance sheet when the company 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, 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
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Finsbury Business Centre Limited(the)
Notes to the Accounts
for the year ended 31 March 2025
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability
is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
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.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Finsbury Business Centre Limited(the)
Notes to the Accounts
for the year ended 31 March 2025
Judgements and key sources of estimation uncertainty
In the application of the company’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. Actual results may differ from these estimates.
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.
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Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
3,414,638
359,421
228,373
-
4,002,432
Additions
-
-
26,660
7,257
33,917
At 31 March 2025
3,414,638
359,421
255,033
7,257
4,036,349
At 1 April 2024
2,052,297
334,324
127,135
-
2,513,756
Charge for the year
120,552
2,863
15,077
1,814
140,306
At 31 March 2025
2,172,849
337,187
142,212
1,814
2,654,062
At 31 March 2025
1,241,789
22,234
112,821
5,443
1,382,287
At 31 March 2024
1,362,341
25,097
101,238
-
1,488,676
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Investments
Other investments
Valuation at 1 April 2024
-
Valuation at 31 March 2025
34,147
Amounts falling due within one year
Trade debtors
52,466
118,539
Amounts due from group undertakings etc.
4,579,535
4,604,282
Accrued income and prepayments
51,363
38,112
Other debtors
7,800
144,583
Finsbury Business Centre Limited(the)
Notes to the Accounts
for the year ended 31 March 2025
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Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
-
147,751
Trade creditors
59,237
52,211
Taxes and social security
61,725
33,807
Other creditors
191,302
219,993
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Operating lease commitments
2025
2024
At 31 March 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than five years
652,500
986,988
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Transactions with related parties
During the year the company provided an interest free loan to its parent company, Jumpeight Limited. At 31 March 2025 the balance outstanding was £3,436,419 (2024 - £3,545,782).
During the year the company provided an interest free loan to an associated company, EC1R Limited. At 31 March 2025 the balance outstanding was £1,151,000 (2024 - £1,058,500).
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Average number of employees
During the year the average number of employees was 4 (2024: 6).