ACCOUNTS - Final Accounts preparation

Registered number: 13389778

FINCH PICKERING ENTERPRISES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025


FINCH PICKERING ENTERPRISES LIMITED

CONTENTS

	Page
Balance sheet	1 - 2
Notes to the financial statements	3 - 8


FINCH PICKERING ENTERPRISES LIMITED REGISTERED NUMBER:13389778

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		158		317
			158		317
Current assets
Stocks	5	844,484		911,459
Debtors: amounts falling due within one year	6	435,059		441,324
Current asset investments	7	-		254,355
Cash at bank and in hand	8	247,890		3,011
		1,527,433		1,610,149
Creditors: amounts falling due within one year	9	(1,610,627)		(1,720,517)
Net current liabilities			(83,194)		(110,368)
Total assets less current liabilities			(83,036)		(110,051)

Net liabilities			(83,036)		(110,051)

Capital and reserves
Called up share capital	11	100	100
Profit and loss account		(83,136)	(110,151)
		(83,036)	(110,051)

Page 1


FINCH PICKERING ENTERPRISES LIMITED REGISTERED NUMBER:13389778

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

L Pickering

Director

Date: 16 January 2026

The notes on pages 3 to 8 form part of these financial statements.

Page 2


FINCH PICKERING ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Finch Pickering Enterprises Limited is a private company, limited by shares, registered in England and Wales, registration number 13389778. The registered office and trading address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The principal activity of the company is that of the purchase and resale of artwork and other investments.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on the going concern basis as the director has confirmed she will continue to provide necessary funding in order for the company to maintain operations and meet liabilites in full for at least the next 12 months. On this basis, the director is satisfied that the financial statements should be prepared on a going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.4

Turnover

Turnover on the sale of artwork is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3


FINCH PICKERING ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4


FINCH PICKERING ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Stocks

Stocks of artwork are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.15

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from other third parties, loans to related parties and investments in ordinary shares.

Page 5


FINCH PICKERING ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 April 2024	476
	At 31 March 2025	476
	Depreciation
	At 1 April 2024	159
	Charge for the year on owned assets	159
	At 31 March 2025	318
	Net book value
	At 31 March 2025	158
	At 31 March 2024	318

5.	Stocks
		2025	2024
		£	£

	Goods for resale	844,484	911,459

Page 6


FINCH PICKERING ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Other debtors	425,379	432,025
Prepayments	498	117
Tax recoverable	9,182	9,182
	435,059	441,324

7.	Current asset investments
		2025	2024
		£	£

	Unlisted investments	-	254,355

8.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	247,890	3,011

9.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other loans	1,584,576	1,684,328
Trade creditors	14,371	5,581
Corporation tax	5,070	11,919
Other taxation and social security	-	7,026
Other creditors	11	(2)
Accruals	6,599	11,665
	1,610,627	1,720,517

Page 7


FINCH PICKERING ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

10.	Deferred taxation

The deferred tax asset is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances	-	79
Short term timing differences	-	(79)
	-	-

11.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

100 (2024 - 100) Orindary shares of £1 each	100	100

12.

Related party transactions

Included within creditors is a balance of £1,555,336 (2024 - £1,555,336) due to a company wholly owned by the director's close family member. The loan is interest free and repayable on demand.

Included in debtors is an amount of £25,378 (2024 - £32,025) due from the director of the company. The loan is repayable on demand and interest of £607 (2024 - £140) has been charged on the loan at the official rate.

Page 8