Company Registration No. 01755609 (England and Wales)
FINSBURY BUSINESS CENTRE LIMITED(THE)
Unaudited accounts
for the year ended 31 March 2020
FINSBURY BUSINESS CENTRE LIMITED(THE)
Unaudited accounts
Contents
FINSBURY BUSINESS CENTRE LIMITED(THE)
Company Information
for the year ended 31 March 2020
Directors
Martin Arthur Hudson
Hugh James Hudson
Ian Alexander Hudson
Primrose Pearl Hudson
Company Number
01755609 (England and Wales)
Registered Office
UNIT 302
40 BOWLING GREEN LANE
LONDON
EC1R 0NE
FINSBURY BUSINESS CENTRE LIMITED(THE)
Statement of financial position
as at 31 March 2020
Tangible assets
1,879,085
1,998,473
Investments
187,000
25,000
Debtors
3,682,293
3,382,426
Cash at bank and in hand
835,051
974,081
Creditors: amounts falling due within one year
(2,134,840)
(2,449,677)
Net current assets
2,382,504
1,906,830
Net assets
4,448,589
3,930,303
Called up share capital
1,000
1,000
Revaluation reserve
568,213
604,371
Profit and loss account
3,879,376
3,324,932
Shareholders' funds
4,448,589
3,930,303
For the year ending 31 March 2020 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 directors acknowledge their 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 of Directors and authorised for issue on 29 December 2020 and were signed on its behalf by
Martin Arthur Hudson
Director
Company Registration No. 01755609
FINSBURY BUSINESS CENTRE LIMITED(THE)
Notes to the Accounts
for the year ended 31 March 2020
FINSBURY BUSINESS CENTRE LIMITED(THE) is a private company, limited by shares, registered in England and Wales, registration number 01755609. The registered office is UNIT 302, 40 BOWLING GREEN LANE, LONDON, EC1R 0NE.
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.
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.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at valuation 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. Plant & Machinery 15% on reducing balance and Fixtures & Fittings 15% on reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation calculated straight line.
The Leasehold is straight line over period of lease.
Dividends for which the company became liable, this financial year: £217,800.00
Bank loans £1294614 (2019 £1587579) are repayable on demand but are due to be repaid in equal monthly instalments by June 2025. They are secured by a fixed and floating charge over the assets of the company and its parent
Investments in shares are included at fair value.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
FINSBURY BUSINESS CENTRE LIMITED(THE)
Notes to the Accounts
for the year ended 31 March 2020
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2019
3,414,638
326,493
133,319
3,874,450
At 31 March 2020
3,414,638
327,843
133,319
3,875,800
At 1 April 2019
1,449,537
320,508
105,932
1,875,977
Charge for the year
120,552
186
-
120,738
At 31 March 2020
1,570,089
320,694
105,932
1,996,715
At 31 March 2020
1,844,549
7,149
27,387
1,879,085
At 31 March 2019
1,965,101
5,985
27,387
1,998,473
5
Investments
Other investments
Valuation at 1 April 2019
25,000
Valuation at 31 March 2020
187,000
Trade debtors
33,084
219,317
Amounts due from group undertakings etc.
3,672,636
3,078,536
Accrued income and prepayments
(29,027)
(29,027)
Other debtors
5,600
113,600
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
1,294,614
1,587,579
Trade creditors
38,238
6,851
Taxes and social security
353,086
297,508
Other creditors
220,006
223,761
8
Transactions with related parties
The ultimate controlling party is Jumpeight Limited by virtue of it's 100% shares in the company.
FINSBURY BUSINESS CENTRE LIMITED(THE)
Notes to the Accounts
for the year ended 31 March 2020
9
Average number of employees
During the year the average number of employees was 8 (2019: 8).
