FINEHAMES_LIMITED - Accounts

FINEHAMES LIMITED - Company Information

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Company Registration No. 05311208 (England and Wales)

FINEHAMES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2015

FINEHAMES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

FINEHAMES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2013

Notes

Fixed assets

Tangible assets

1,229,946

953,118

Current assets

Debtors

678

723

Cash at bank and in hand

25,905

40,142

26,583

40,865

Creditors: amounts falling due within one year

(1,198,984)

(978,541)

Net current liabilities

(1,172,401)

(937,676)

Total assets less current liabilities

57,545

15,442

Capital and reserves

Called up share capital

100

Profit and loss account

57,445

15,342

Shareholders' funds

57,545

15,442

For the financial Period ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 3 September 2015

Mr L J Pannell

Director

Company Registration No. 05311208

FINEHAMES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company relies on the continued support of the director to meet its day to day working capital requirements. The director has confirmed that he will continue to provide financial support for as long as the company requires it.

1.2

Turnover

Turnover represents rents receivable from investment properties. Income is recognised as rents fall due.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings and equipment

25% reducing balance

Investment properties are included in the balance sheet at their open market value. Depreciation will only be provided on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

FINEHAMES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2014

953,265

Additions

276,955

At 31 March 2015

1,230,220

Depreciation

At 1 January 2014

147

Charge for the period

127

At 31 March 2015

274

Net book value

At 31 March 2015

1,229,946

At 31 December 2013

953,118

Share capital

2015

2013

Allotted, called up and fully paid

100 ordinary shares of £1 each

100

Related party relationships and transactions

Other transactions

During the period the company's director, Mr L J Pannell advanced £230,300 (2013 - £795,321) to the company. As at 31 March 2015 the company owed Mr L J Pannell £1,185,907 (2013 - £973,607).