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REGISTERED NUMBER: 02724561 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

JOHN FARRINGTON & CO LIMITED

JOHN FARRINGTON & CO LIMITED (REGISTERED NUMBER: 02724561)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOHN FARRINGTON & CO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: D J Farrington
R Pearson





SECRETARY: D J Farrington





REGISTERED OFFICE: 30 - 34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 02724561 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Ltd
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

JOHN FARRINGTON & CO LIMITED (REGISTERED NUMBER: 02724561)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 72,567 50,890

CURRENT ASSETS
Stocks 271,376 263,203
Debtors 5 536,080 337,093
Cash at bank and in hand 336,968 359,403
1,144,424 959,699
CREDITORS
Amounts falling due within one year 6 (612,607 ) (466,835 )
NET CURRENT ASSETS 531,817 492,864
TOTAL ASSETS LESS CURRENT
LIABILITIES

604,384

543,754

CREDITORS
Amounts falling due after more than one
year

7

(8,879

)

-
NET ASSETS 595,505 543,754

CAPITAL AND RESERVES
Called up share capital 9 132 132
Share premium 22,482 22,482
Retained earnings 572,891 521,140
SHAREHOLDERS' FUNDS 595,505 543,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

JOHN FARRINGTON & CO LIMITED (REGISTERED NUMBER: 02724561)

BALANCE SHEET - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:





D J Farrington - Director


JOHN FARRINGTON & CO LIMITED (REGISTERED NUMBER: 02724561)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

John Farrington & Co 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and estimation uncertainty
No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes in effect a financing transaction, the fair value of the consideration is measured as the present value of all future receipts determined using an imputed rate of interest, normally the rate that discounts the nominal amount of consideration to the cash sales price.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities of the actual completion of a proportion of the total services to be rendered.

When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

JOHN FARRINGTON & CO LIMITED (REGISTERED NUMBER: 02724561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

JOHN FARRINGTON & CO LIMITED (REGISTERED NUMBER: 02724561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2022 9,063 39,570 110,582 159,215
Additions - 3,786 50,436 54,222
Disposals - - (14,750 ) (14,750 )
At 31 May 2023 9,063 43,356 146,268 198,687
DEPRECIATION
At 1 June 2022 5,389 35,922 67,014 108,325
Charge for year 368 2,453 21,427 24,248
Eliminated on disposal - - (6,453 ) (6,453 )
At 31 May 2023 5,757 38,375 81,988 126,120
NET BOOK VALUE
At 31 May 2023 3,306 4,981 64,280 72,567
At 31 May 2022 3,674 3,648 43,568 50,890

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 34,741
At 31 May 2023 34,741
DEPRECIATION
Charge for year 8,685
At 31 May 2023 8,685
NET BOOK VALUE
At 31 May 2023 26,056

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 530,690 336,343
Other debtors 5,390 750
536,080 337,093

JOHN FARRINGTON & CO LIMITED (REGISTERED NUMBER: 02724561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 5,719 -
Trade creditors 237,609 163,343
Amounts owed to group undertakings 78,601 8,514
Taxation and social security 286,952 293,680
Other creditors 3,726 1,298
612,607 466,835

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 8,879 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 14,598 -

Hire purchase liabilities are secured on the relevant asset funded under the agreement.

9. CALLED UP SHARE CAPITAL




Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
114 Ordinary 'A' Shares £1 114 114
12 Ordinary 'B' Shares £1 18 18
132 132

10. RELATED PARTY DISCLOSURES

During the year the company paid management charges of £24,000 (2022 - £24,000) to JDRF Holdings Limited, a company that owns 100% of the share capital.

At the balance sheet date an amount of £78,601 (2022 : £8,514) was owed by the company to JDRF Holdings Limited.