The Finishing Line Limited - Filleted accounts

Registered number

02120683

The Finishing Line Limited

Filleted Accounts

31 March 2025

The Finishing Line Limited
Registered number:		02120683
Balance sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		136,273			63,990
Tangible assets	4		1,149,091			1,169,106
			1,285,364			1,233,096

Current assets
Stocks		113,670			89,774
Debtors	5	1,896,805			1,989,556
Cash at bank and in hand		111,211			73,806
		2,121,686			2,153,136

Creditors: amounts falling due within one year	6	(1,225,438)			(894,680)

Net current assets			896,248			1,258,456

Total assets less current liabilities			2,181,612			2,491,552

Creditors: amounts falling due after more than one year	7		(500,572)			(532,076)

Net assets			1,681,040			1,959,476

Capital and reserves
Called up share capital			2,550			2,550
Profit and loss account			1,678,490			1,956,926

Shareholder's funds			1,681,040			1,959,476

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



Andrew Charles Mead
Managing Director
Approved by the board on 29 December 2025

The Finishing Line Limited
Notes to the financial statements
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirement of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

	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 £. functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

	The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

	Going concern
	The directors have, at the time of approving the financial statements, a reasonable expectation that company has adequate resources to continue in operational existance for the foreseeable future, which is not less than 12 months from the date of signing the financial statements. The directors closely monitor the cash flow and profitability forecasts of the company and believe that any known risks have been suitably mitigated such that it is appropriate that the accounts have been prepared on a going concern basis.

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Amortisation is provided on all intangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Software development costs			over 10 years
	Other			over 10 years

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Leasehold land and buildings			over the lease term
	Plant and machinery			25% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.

2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					113		120

3	Intangible fixed assets							£

	Cost
	At 1 April 2024							67,546
	Additions							82,421
	At 31 March 2025							149,967

	Amortisation
	At 1 April 2024							3,556
	Provided during the year							10,138
	At 31 March 2025							13,694

	Net book value
	At 31 March 2025							136,273
	At 31 March 2024							63,990

4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	1,167,331		987,933		59,150		2,214,414
	Additions	2,676		222,700		-		225,376
	At 31 March 2025	1,170,007		1,210,633		59,150		2,439,790

	Depreciation
	At 1 April 2024	195,784		801,610		47,914		1,045,308
	Charge for the year	203,391		39,516		2,484		245,391
	At 31 March 2025	399,175		841,126		50,398		1,290,699

	Net book value
	At 31 March 2025	770,832		369,507		8,752		1,149,091
	At 31 March 2024	971,547		186,323		11,236		1,169,106

5	Debtors					2025		2024
£							£

	Trade debtors					911,940		882,136
	Deferred tax asset					159,063		166,767
	Other debtors					825,802		940,653
						1,896,805		1,989,556

6	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					189,733		161,813
	Obligations under finance lease and hire purchase contracts					173,966		124,232
	Trade creditors					421,253		291,072
	Taxation and social security costs					229,294		76,093
	Other creditors					211,192		241,470
						1,225,438		894,680

7	Creditors: amounts falling due after one year					2025		2024
£							£

	Obligations under finance lease and hire purchase contracts					500,572		532,076

8	Other information

	The Finishing Line Limited is a private company limited by shares and incorporated in England. Its registered office is:
	2a Forest Drive
	Theydon Bois
	Epping
	Essex
	CM16 7EY