FINSBURY BUSINESS CENTRE LIMITED(THE)

FINSBURY BUSINESS CENTRE LIMITED(THE)

FINSBURY BUSINESS CENTRE LIMITED(THE) - Company Information

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FINSBURY BUSINESS CENTRE LIMITED(THE)

Company Registration Number:
01755609 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2019

Period of accounts

Start date: 01 April 2018

End date: 31 March 2019

FINSBURY BUSINESS CENTRE LIMITED(THE)

Contents of the Financial Statements

for the Period Ended 31 March 2019

Balance sheet
Notes

FINSBURY BUSINESS CENTRE LIMITED(THE)

Balance sheet

As at 31 March 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 3 1,998,473 2,099,906
Investments: 4 25,000
Total fixed assets: 2,023,473 2,099,906
Current assets
Debtors: 5 3,382,427 2,815,665
Cash at bank and in hand: 973,265 892,048
Total current assets: 4,355,692 3,707,713
Creditors: amounts falling due within one year: 6 (2,448,864) (2,621,225)
Net current assets (liabilities): 1,906,828 1,086,488
Total assets less current liabilities: 3,930,301 3,186,394
Total net assets (liabilities): 3,930,301 3,186,394
Capital and reserves
Called up share capital: 1,000 1,000
Revaluation reserve:7604,371640,529
Profit and loss account: 3,324,930 2,544,865
Shareholders funds: 3,930,301 3,186,394

The notes form part of these financial statements

FINSBURY BUSINESS CENTRE LIMITED(THE)

Balance sheet statements

For the year ending 31 March 2019 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 December 2019
and signed on behalf of the board by:

Name: Mr Martin Hudson
Status: Director

The notes form part of these financial statements

FINSBURY BUSINESS CENTRE LIMITED(THE)

Notes to the Financial Statements

for the Period Ended 31 March 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at valuation at 31st March 2002 plus additions at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases Leasehold straight line over period of lease Plant & Machinery 15% on reducing balance Fixtures & Fittings 15% on reducing balance

FINSBURY BUSINESS CENTRE LIMITED(THE)

Notes to the Financial Statements

for the Period Ended 31 March 2019

2. Employees

2019 2018
Average number of employees during the period 11 11

FINSBURY BUSINESS CENTRE LIMITED(THE)

Notes to the Financial Statements

for the Period Ended 31 March 2019

3. Tangible Assets

Total
Cost £
At 01 April 2018 3,855,332
Additions 19,119
At 31 March 2019 3,874,451
Depreciation
At 01 April 2018 1,755,426
Charge for year 120,552
At 31 March 2019 1,875,978
Net book value
At 31 March 2019 1,998,473
At 31 March 2018 2,099,906

FINSBURY BUSINESS CENTRE LIMITED(THE)

Notes to the Financial Statements

for the Period Ended 31 March 2019

4. Fixed investments

The company invested £25000 in Ember Nine Limited a UK registered trading company

FINSBURY BUSINESS CENTRE LIMITED(THE)

Notes to the Financial Statements

for the Period Ended 31 March 2019

5. Debtors

Included in Debtors are amounts owed by group undertakings £3183536 (2018 £2817049)

FINSBURY BUSINESS CENTRE LIMITED(THE)

Notes to the Financial Statements

for the Period Ended 31 March 2019

6. Creditors: amounts falling due within one year note

Bank Loans £1587579 (2018 £1841918) are repayable on demand but are due to be repaid in equal monthly installments by June 2025. They are secured by a fixed and floating charge over the assets of the company and its parent

FINSBURY BUSINESS CENTRE LIMITED(THE)

Notes to the Financial Statements

for the Period Ended 31 March 2019

7. Revaluation reserve

2019
£
Balance at 01 April 2018 640,529
Surplus or deficit after revaluation (36,158)
Balance at 31 March 2019 604,371

FINSBURY BUSINESS CENTRE LIMITED(THE)

Notes to the Financial Statements

for the Period Ended 31 March 2019

8. Related party transactions

The Company's ultimate controlling party is Jumpeight Limited by virtue of its ownership of 100% of the issued share capital in the company