| Finemott Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2026 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Revenue is recognised to the extent that it is probable that the economic benefit will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable. Revenue from rent is recognised in the period to which it relates. |
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Tangible fixed assets |
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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: |
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Fixtures, fittings and equipment |
15% on reducing balance |
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Investment properties are included in the balance sheet at their open market value. Depreciation |
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is provided only on those properties which are leasehold and where the unexpired lease term |
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is less than 20 years. |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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| 2 |
Investment property |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Associates and joint ventures |
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Associates and Joint Ventures are held at cost less impairment. |
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Debtors |
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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. |
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Creditors |
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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. |
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Taxation |
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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. |
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Provisions |
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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. |
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| 3 |
Employees |
2026 |
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2025 |
| Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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| 4 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery etc |
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Total |
| £ |
£ |
£ |
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Cost |
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At 1 April 2025 |
3,436,014 |
|
9,072 |
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3,445,086 |
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At 31 March 2026 |
3,436,014 |
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9,072 |
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3,445,086 |
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Depreciation |
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At 1 April 2025 |
- |
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7,553 |
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7,553 |
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Charge for the year |
- |
|
227 |
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227 |
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At 31 March 2026 |
- |
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7,780 |
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7,780 |
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Net book value |
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At 31 March 2026 |
3,436,014 |
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1,292 |
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3,437,306 |
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At 31 March 2025 |
3,436,014 |
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1,519 |
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3,437,533 |
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Freehold land and buildings: |
2026 |
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2025 |
| £ |
£ |
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Historical cost |
536,941 |
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536,941 |
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Cumulative depreciation based on historical cost |
- |
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- |
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536,941 |
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536,941 |
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Cost or valuation at 31 March 2025 is represented by : |
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£ |
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£ |
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Valuation in 2025 |
3,436,014 |
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3,436,014 |
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The director is satisfied that the value of the properties within the accounts fairly reflect their open market value. The investment properties were valued on an open market basis on 31 March 2025 by Dipak Vithlani, a director of the company. |
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| 5 |
Investments |
| £ |
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Cost |
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At 1 April 2025 |
6,364 |
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At 31 March 2026 |
6,364 |
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Holdings of more than 20% |
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The company holds more than 20% of the share capital of the following companies: |
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Company |
Country of |
Shares |
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Held |
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Incorporation |
Class |
% |
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Subsidiary undertakings: |
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Gencoe Properties Ltd |
England & Wales |
Ordinary |
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shares |
100.00 |
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Participating Interests: |
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Romany Ltd |
England & Wales |
Ordinary |
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shares |
12.00 |
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Mr Dipak Vithlani, one of the two directors of Finemott ltd, is also a director of Gencoe Properties Ltd. |
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| 6 |
Debtors |
2026 |
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2025 |
| £ |
£ |
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Other debtors |
42,901 |
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36,651 |
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| 7 |
Creditors: amounts falling due within one year |
2026 |
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2025 |
| £ |
£ |
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Bank loans and overdrafts |
132,000 |
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144,000 |
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Taxation and social security costs |
41,158 |
|
24,930 |
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Directors' current account |
5,507 |
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31,508 |
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Other creditors |
13,821 |
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15,946 |
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192,486 |
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216,384 |
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| 8 |
Creditors: amounts falling due after one year |
2026 |
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2025 |
| £ |
£ |
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Bank loans |
816,615 |
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855,845 |
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| 9 |
Loans |
2026 |
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2025 |
| £ |
£ |
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Creditors include: |
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Secured bank loans |
948,615 |
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999,845 |
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The bank loan is secured by the first legal charge on company's freehold property. The company has provided an unlimited debenture. |
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| 10 |
Revaluation reserve |
2026 |
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2025 |
| £ |
£ |
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At 1 April 2025 |
1,990,388 |
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1,990,388 |
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At 31 March 2026 |
1,990,388 |
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1,990,388 |
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| 11 |
Related party transactions |
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Included in other debtors are the following loans owed to the company by entities in which the company is either a shareholder or member or the directors/shareholders of the company have an interest in the entities: |
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Amount owed |
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Name of Debtors |
at year end |
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Romany Ltd |
- |
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Shivelmer LLP |
6,675 |
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6,675 |
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All the loans shown above are unsecured and interest free. |
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| 12 |
Retained earnings |
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The retained earnings of £2,110,082 (YE 31.03.25 - £2,008,883) comprise distributable reserve of £119,594 (YE 31.03.25 - £18,395) and non- distributable reserves of £1,990,388 (YE 31.03.25 - £1,990,388). |
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| 13 |
Other information |
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Finemott Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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23a Eastbury Road |
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Northwood |
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Middlesex |
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HA6 3AJ |