Finders International Limited - Accounts to registrar - small 17.2
Finders International Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2016 |
| for |
| Finders International Limited |
| Finders International Limited (Registered number: 02551332) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Finders International Limited |
| Company Information |
| for the Year Ended 31 December 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 1 Forstal Road |
| Aylesford |
| Kent |
| ME20 7AU |
| BANKERS: |
| 59 High Street |
| Tenterden |
| Kent |
| TN30 6BE |
| Finders International Limited (Registered number: 02551332) |
| Balance Sheet |
| 31 December 2016 |
| 2016 | 2015 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve | 9 |
| Retained earnings | 9 | 743,585 |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Finders International Limited (Registered number: 02551332) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2016 |
| 1. | STATUTORY INFORMATION |
| Finders International Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| No material uncertainties that may cast doubt about the ability of the company to continue as a going concern |
| have been identified by the directors. |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Goodwill |
| Goodwill, being the amount paid for the acquistion of a business in 1991, was written off evenly over its |
| estimated useful life of five years. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Know how, patents and trade marks |
| Amortisation is provided at the rate of 25% on cost in order to write off the cost of these intangible fixed assets |
| over their estimated useful life. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Taxation |
| Taxation for the year 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. |
| Current or deferred taxation assets and liabilities are not discounted. |
| 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. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| 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 year end and that are expected to apply to the reversal |
| of the timing difference. |
| 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. |
| Finders International Limited (Registered number: 02551332) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2016 |
| and 31 December 2016 |
| AMORTISATION |
| At 1 January 2016 |
| and 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2016 |
| and 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| Finders International Limited (Registered number: 02551332) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2016 |
| and 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| The fixed asset investment represents the cost of shares acquired in the company's subsidiary based in Spain. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| as restated |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| as restated |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2016 | 782,411 |
| Prior year adjustment | ( |
) | ( |
) |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31 December 2016 | 768,633 |
| 10. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £60,000 (2015 - £16,000) were paid to the directors . |
| The company is controlled by the directors |
| The company pays rent to two of the directors of the company, in respect of property owned privately and used |
| by the company. The rent paid amounted to £15,200 (2015:£15,200) of which £7,600 (2015:£7,600) was |
| outstanding at the year end. |
| The directors' current accounts at the year end amounted to £154,476 payable to R Czik (2015: £61,136), |
| £39,496 payable by K Bunyan (2015: £22,699) and £45,000 payable to R Desrosiers (2015: £29,000). |