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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 JULY 2017 TO 30 APRIL 2018 |
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FINN TELECOM LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 JULY 2017 TO 30 APRIL 2018 |
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FOR |
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FINN TELECOM LTD |
FINN TELECOM LTD (REGISTERED NUMBER: 09640389) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2017 TO 30 APRIL 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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FINN TELECOM LTD |
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COMPANY INFORMATION |
FOR THE PERIOD 1 JULY 2017 TO 30 APRIL 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Chargrove House |
Shurdington Road |
Cheltenham |
Gloucestershire |
GL51 4GA |
FINN TELECOM LTD (REGISTERED NUMBER: 09640389) |
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BALANCE SHEET |
30 APRIL 2018 |
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2018 | 2017 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps 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 Sections 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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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FINN TELECOM LTD (REGISTERED NUMBER: 09640389) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2017 TO 30 APRIL 2018 |
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1. | STATUTORY INFORMATION |
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Finn Telecom Ltd is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. The Invoice is raised at |
the point of sale. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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 period end and that |
are expected to apply to the reversal of the timing difference. |
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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. |
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Going concern |
The directors have considered the risk and issues concerning the company and it's activities and no |
material uncertainties that may cast significant doubt about the company's ability of the company to |
continue as a going concern have been identified by the directors. |
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Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event |
prior to the balance sheet date and that a payment will be required in settlement that can be estimated |
reliably. Where material, provisions are calculated on discounted basis. |
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Financial instruments |
Financial instruments are classified by the directors as basic or advanced following the conditions in |
FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective |
interest method. |
FINN TELECOM LTD (REGISTERED NUMBER: 09640389) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2017 TO 30 APRIL 2018 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Provision for doubtful debts | (78 | ) | - |
Prepayments |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Corporation Tax |
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VAT |
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Other creditors |
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Directors' loan accounts | 1,529 | 3,278 |
Accruals and deferred income |
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6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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Amount due to P M Berry at the balance sheet date £1,529 (2017: £3,278). |
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No interest has been charged and the balance is repayable on demand. |
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7. | RELATED PARTY DISCLOSURES |
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During the year, the company repaid £750 of a loan received from Officeworx Limited of £5,000 in |
2016. Closing balance at balance sheet date £2,250 (2017: £3,000). Officeworx Limited is a company |
in which P M Berry and Dr R L Adkins are also directors and shareholders. |
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No interest has been charged on the balance and the loan is repayable on demand. |
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The loan can be seen under other creditors falling due within one year. |