Company Registration No. 09852857 (England and Wales)
Finovium Limited
Unaudited Financial Statements
for the year ended 31 December 2024
Finovium Limited
Unaudited Financial Statements
Contents
Finovium Limited
Company Information
for the year ended 31 December 2024
Company Number
09852857 (England and Wales)
Registered Office
Finovium Limited
7 Bell Yard
London
WC2A 2JR
England
Finovium Limited
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
10,373
326
Creditors: amounts falling due within one year
(11,282)
(11,130)
Net current assets
17,275
6,803
Total assets less current liabilities
58,619
48,400
Creditors: amounts falling due after more than one year
(1,303)
(4,404)
Called up share capital
1
1
Profit and loss account
57,315
43,995
Shareholders' funds
57,316
43,996
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. 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 and authorised for issue on 30 December 0265 and were signed on its behalf by
Tim Rock
Director
Company Registration No. 09852857
Finovium Limited
Notes to the Accounts
for the year ended 31 December 2024
Finovium Limited is a private company, limited by shares, registered in England and Wales, registration number 09852857. The registered office is Finovium Limited, 7 Bell Yard, London, WC2A 2JR, England.
2
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 accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments in shares are included at fair value.
Finovium Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Total
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
6
Average number of employees
During the year the average number of employees was 1 (2023: 1).