Registered Number
:
09273200
|
For the year ended 31 October 2019
England and Wales
Unaudited Financial Statements
Finescale Models Limited
Statement of Financial Position
2018
2019
-
1,000
2
Property
,
plant and equipment
|
9,281
7,287
3
9,281
8,287
454
Cash and cash equivalents
|
8,128
8,128
454
Trade and other payables
:
amounts falling due within one
|
year
|
(6,896)
(7,809)
4
(6,442)
319
Net current assets
Total assets less current liabilities
|
9,600
1,845
9,600
Net assets
1,845
100
100
9,500
1,745
9,600
1,845
Shareholders' funds
For the year ended 31 October 2019 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 of its financial statements for the year ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
|
b
)
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
|
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
|
394
and
395
and which otherwise comply with the requirements of the Companies Act
2006
relating to financial
|
statements
,
so far as applicable to the company
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 19 October 2020 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 31 October 2019
Finescale Models Limited
Notes to the Financial Statements
Statutory Information
Finescale Models Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration
|
number
09273200
.
|
116 Hallowell Down
South Woodham Ferrers
Chelmsford
Essex
CM3 5GZ
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of 5 years.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and machinery
2
.
Intangible fixed assets
|
Goodwill
5,000
5,000
4,000
1,000
Charge for year
5,000
-
1,000
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For the year ended 31 October 2019
Finescale Models Limited
Notes to the Financial Statements Continued
3
.
Property
,
plant and equipment
|
11,100
3,639
14,739
Provision for depreciation and impairment
|
3,813
Charge for year
1,645
5,458
9,281
7,287
4
.
Trade and other payables
:
amounts falling due within one year
|
2018
2019
Taxation and social security
|
6,303
5,835
Accruals and deferred income
|
700
713
Directors
'
loan accounts
|
806
348
7,809
6,896
5
.
Related party transactions
|
The company is controlled by the Director Darren Beard who controls
100
%
of the voting rights of the company
.
|
During the period the Director Darren Beard was paid interim dividends on his Ordinary Shares held in the company
|
as follows
:
2019
£
20
,
350
(
2018
:
£
26
,
300
).
|
6
.
Average number of persons employed
|
During the year the average number of employees was 2 (2018 : 2)
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