Company Registration No. SC800251 (Scotland)
Finry Collective Ltd
Unaudited accounts
for the year ended 28 February 2026
Finry Collective Ltd
Unaudited accounts
Contents
Finry Collective Ltd
Company Information
for the year ended 28 February 2026
Company Number
SC800251 (Scotland)
Registered Office
The Prop House
North Ythsie
Tarves
Ellon
Aberdeenshire
AB41 7LS
Scotland
Finry Collective Ltd
Statement of financial position
as at 28 February 2026
Cash at bank and in hand
1,618
2,060
Creditors: amounts falling due within one year
(3,538)
(23,606)
Net current assets/(liabilities)
624
(11,960)
Net assets/(liabilities)
624
(11,960)
Called up share capital
1
1
Profit and loss account
623
(11,961)
Shareholders' funds
624
(11,960)
For the year ending 28 February 2026 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 her 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 and authorised for issue on 25 August 2026 and were signed on its behalf by
Emma Smalley
Director
Company Registration No. SC800251
Finry Collective Ltd
Notes to the Accounts
for the year ended 28 February 2026
Finry Collective Ltd is a private company, limited by shares, registered in Scotland, registration number SC800251. The registered office is The Prop House, North Ythsie, Tarves, Ellon, Aberdeenshire, AB41 7LS, Scotland. The company is in the process of being wound up.
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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Finry Collective Ltd
Notes to the Accounts
for the year ended 28 February 2026
The financial statements have been prepared on a basis other than going concern.
The Company ceased trading on 10 February 2026, prior to the balance sheet date of 28 February 2026. At the balance sheet date, the Company had no ongoing trading activity and the directors had resolved to wind up the Company's affairs.
In accordance with FRS 102 Section 1A, the going concern basis of preparation is appropriate only where management does not intend to liquidate the entity or cease trading, or has no realistic alternative but to do so. As the Company had already ceased trading before the year end, the directors have concluded that the going concern basis is not appropriate for these financial statements.
Accordingly, the financial statements have been prepared on a break-up basis. Assets have been stated at the lower of carrying value and estimated net realisable value, and liabilities have been recognised to the extent they are expected to crystallise on winding up. All assets and liabilities have been reclassified as current where they would not otherwise meet the criteria for non-current presentation.
During the year, the director waived the loan due to them from the Company in full, as disclosed in the related party note. As a result, the Company's remaining creditor balances at the balance sheet date are minimal. Subsequent to the year end, the director has confirmed their intention to personally discharge the remaining third-party creditor balances, such that the Company will be wound up free of outstanding liabilities. The directors are satisfied that no further material adjustments to asset or liability carrying values are required beyond those already reflected in these financial statements.
Amounts falling due within one year
Accrued income and prepayments
2,544
2,473
5
Creditors: amounts falling due within one year
2026
2025
Other creditors
3,538
21,578
Loans from directors
-
2,028
6
Transactions with related parties
During the year, the director waived the loan of £27,261 owed to them by the Company in full. No consideration was received by the director in respect of this waiver and the amount has been credited to profit and loss account in the year.
At the balance sheet date, £nil (2024: £2,028) was due to the director. The loan is unsecured, interest free and payable on demand.
Subsequent to the balance sheet date, the director has agreed to personally settle the Company's remaining third-party creditor balances of approximately £4,000 in order to facilitate the orderly wind-down of the Company's affairs.
7
Average number of employees
During the year the average number of employees was 0 (2025: 0).