Company registration number 01218109 (England and Wales)
Fineturret Limited
Unaudited financial statements
For the year ended 31 August 2025
Fineturret Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
Fineturret Limited
Statement of financial position
As at 31 August 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,057,932
817,877
Current assets
Debtors
5
1,339,846
911,599
Cash at bank and in hand
5,495,444
642,349
6,835,290
1,553,948
Creditors: amounts falling due within one year
6
(1,791,746)
(609,050)
Net current assets
5,043,544
944,898
Total assets less current liabilities
6,101,476
1,762,775
Creditors: amounts falling due after more than one year
7
(36,179)
(26,190)
Provisions for liabilities
(44,854)
(39,290)
Net assets
6,020,443
1,697,295
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
6,019,443
1,696,295
Total equity
6,020,443
1,697,295
Fineturret Limited
Statement of financial position (continued)
As at 31 August 2025
31 August 2025
- 2 -

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 5 March 2026 and are signed on its behalf by:
Mr D M Gillespie
Director
Company registration number 01218109 (England and Wales)
Fineturret Limited
Notes to the financial statements
For the year ended 31 August 2025
- 3 -
1
Accounting policies
Company information

Fineturret Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01218109 and its registered office address is Unit 1, Croft Industrial Estate, Croft Lane, Bury, Lancashire, BL9 8QG.

1.1
Basis of preparation

These 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 requirements 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 a mounts 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.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company true has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts chargeable to clients for the provision of goods and services, excluding value added tax and adjusted for changes in the levels of work in progress.

Contract income is recognised when a right to consideration has been obtained through performance under each contract. Consideration accrues as contract activity progresses by reference to the value of work performed. The income recognised is included at the fair value of consideration expected to be received after taking into account retentions and anticipated variations. Costs of rectification work carried out after the statement of financial position date are provided as part of costs of sales.

Amounts recoverable on contracts represents excess value of work carried out (which has been recorded as turnover) over cumulative payments on account.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Freehold land and buildings
2% on cost
Plant and machinery etc
25% reducing balance
Fixtures and fittings
20% reducing balance
Motor vehicles
25% reducing balance

Freehold land is not depreciated.

Fineturret Limited
Notes to the financial statements (continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 4 -

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.

1.5
Financial instruments

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 statement of financial position 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 paymen ts 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. A m ounts 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.

1.6
Equity instruments

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.

1.7
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Fineturret Limited
Notes to the financial statements (continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

1.8
Retirement benefits

The company contributes to various defined contribution pension schemes. The assets of these schemes are held separately from those of the company in independently administered funds. Contributions payable for the year are charged in the income statement.

1.9
Leases
As lessee

Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the income statement as incurred.

2
Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Estimating the useful economic life of an asset and the anticipated residual value in calculating an appropriate depreciation charge.

Determining the expected outcome of contracts prior to their conclusion and calculating the attributable profit that should be recognised in a manner appropriate to the stage of completion.

Fineturret Limited
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
4
4
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 September 2024
411,721
2,153,506
2,565,227
Additions
-
0
396,446
396,446
At 31 August 2025
411,721
2,549,952
2,961,673
Depreciation and impairment
At 1 September 2024
7,187
1,740,163
1,747,350
Depreciation charged in the year
6,634
149,757
156,391
At 31 August 2025
13,821
1,889,920
1,903,741
Carrying amount
At 31 August 2025
397,900
660,032
1,057,932
At 31 August 2024
404,534
413,343
817,877

Included in cost of land and buildings is freehold land of £80,000 (2024 - £80,000) which is not depreciated.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
903,923
482,178
Other debtors
435,923
429,421
1,339,846
911,599
Fineturret Limited
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 7 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
249,494
242,611
Taxation and social security
1,470,880
287,895
Other creditors
71,372
78,544
1,791,746
609,050
7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
36,179
26,190
8
Secured Debts

Hire purchase liabilities totalling £86,993 (2024 - £76,575) are secured against the fixed assets to which they relate.

9
Directors' transactions

Included within debtors falling due within one year is a director's current account balance of £27,144 (2024: £26,079) owed by Mr D M Gillespie. The maximum overdrawn balance in the period was £27,144. This amount is unsecured, interest free and repayable upon demand.

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