FINER LIMITED - Accounts to registrar - small 17.1.1

FINER LIMITED - Accounts to registrar - small 17.1.1

FINER LIMITED - Company Information

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REGISTERED NUMBER: 04341003 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

FINER LIMITED

FINER LIMITED (REGISTERED NUMBER: 04341003)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 October 2016




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


FINER LIMITED

COMPANY INFORMATION
For The Year Ended 31 October 2016







DIRECTORS: Mr J S Malhi
Mrs I K Malhi





SECRETARY: Mr A Malhi





REGISTERED OFFICE: 35A HIGH STREET
RUISLIP
Middlesex
HA4 7AU





REGISTERED NUMBER: 04341003 (England and Wales)





ACCOUNTANTS: Dawn & Co.
Chartered Certified Accountants
35A High Street
Ruislip
Middlesex
HA4 7AU
Page 1
FINER LIMITED (REGISTERED NUMBER: 04341003)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 October 2016

31.10.16 31.10.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 315,386 378,466
Investment property 5 16,600,000 13,300,850
16,915,386 13,679,316

CURRENT ASSETS
Debtors 58,582 114,614
Cash at bank and in hand 84,088 259,673
142,670 374,287
CREDITORS
Amounts falling due within one year 310,571 289,279
NET CURRENT (LIABILITIES)/ASSETS (167,901 ) 85,008
TOTAL ASSETS LESS CURRENT
LIABILITIES
16,747,485
13,764,324

CREDITORS
Amounts falling due after more than one year 6 (5,218,997 ) (5,278,997 )

PROVISIONS FOR LIABILITIES (587,785 ) -
NET ASSETS 10,940,703 8,485,327

CAPITAL AND RESERVES
Called up share capital 2,420 2,420
Retained earnings 8 10,938,283 8,482,907
SHAREHOLDERS' FUNDS 10,940,703 8,485,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The notes form part of these financial statements

Page 2 continued...
FINER LIMITED (REGISTERED NUMBER: 04341003)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 October 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 October 2016 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 July 2017 and were signed on its behalf by:





Mr J S Malhi - Director


The notes form part of these financial statements

Page 3
FINER LIMITED (REGISTERED NUMBER: 04341003)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 October 2016

1. STATUTORY INFORMATION

FINER LIMITED is a private company, limited by shares , registered in England and Wales. The 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
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on reducing balance

Investment property
Investment properties are included in the balance sheet at their open market value. No depreciation is charged on
investment properties.

Although this accounting policy is in accordance with the applicable accounting standard, SSAP 19, Accounting for
investment properties, 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 directors 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement
of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

Page 4 continued...
FINER LIMITED (REGISTERED NUMBER: 04341003)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 2016

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2015
and 31 October 2016 630,984
DEPRECIATION
At 1 November 2015 252,518
Charge for year 63,080
At 31 October 2016 315,598
NET BOOK VALUE
At 31 October 2016 315,386
At 31 October 2015 378,466

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2015 13,300,850
Additions 360,187
Revaluations 2,938,963
At 31 October 2016 16,600,000
NET BOOK VALUE
At 31 October 2016 16,600,000
At 31 October 2015 13,300,850

Cost or valuation at 31 October 2016 is represented by:

£   
Valuation in 2016 16,600,000

Investment properties were valued on a fair value basis on 31 October 2016 by the directors .

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.10.16 31.10.15
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 5,218,997 5,278,997

Page 5 continued...
FINER LIMITED (REGISTERED NUMBER: 04341003)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 2016

7. LOANS

An analysis of the maturity of loans is given below:

31.10.16 31.10.15
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 5,218,997 5,278,997

The loan is secured over the company's investment properties.

8. RESERVES

Included in profit and loss reserves is a revaluation on investment property of £2,938,963 performed in year ended
2016.

9. FIRST YEAR ADOPTION

Transitional relief
On transition to FRS 102, the company has taken advantage of the following transitional relief:

• to measure fair value at date of transition to FRS 102 and use as deemed cost on an investment property.

Page 6