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REGISTERED NUMBER: 01243329 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

FARLEYGREENE LIMITED

FARLEYGREENE LIMITED (REGISTERED NUMBER: 01243329)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FARLEYGREENE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mr A R Hare
Mrs A Hare





REGISTERED OFFICE: Unit 2 Hatch Industrial Park
Greywell Road
Mapledurwell
Basingstoke
Hampshire
RG24 7NG





REGISTERED NUMBER: 01243329 (England and Wales)






FARLEYGREENE LIMITED (REGISTERED NUMBER: 01243329)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 106,833 39,318

CURRENT ASSETS
Stocks 6 784,219 863,465
Debtors 7 479,390 764,380
Cash at bank and in hand 115,702 76,832
1,379,311 1,704,677
CREDITORS
Amounts falling due within one year 8 686,471 1,145,075
NET CURRENT ASSETS 692,840 559,602
TOTAL ASSETS LESS CURRENT
LIABILITIES

799,673

598,920

CREDITORS
Amounts falling due after more than one
year

9

(70,016

)

(166,852

)

PROVISIONS FOR LIABILITIES (14,455 ) (7,470 )
NET ASSETS 715,202 424,598

CAPITAL AND RESERVES
Called up share capital 12 32 32
Capital redemption reserve 68 68
Retained earnings 715,102 424,498
SHAREHOLDERS' FUNDS 715,202 424,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by:



Mr A R Hare - Director


FARLEYGREENE LIMITED (REGISTERED NUMBER: 01243329)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Farleygreene 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sales of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
-the company has transferred the significant risks and rewards of ownership to the buyer;

-
the company retains neither continuing managerial involvement to the degree usually associated with
ownership nor effective control over the goods sold;
-the amount of revenue can be measured reliably;
-it is probable that the company will receive consideration due under the transaction; and
-the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off 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 - 25% straight line and 10% straight line
Fixtures and fittings - 25% straight line and 10% straight line
Office & computer equipment - 25% straight line

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the income statement.

FARLEYGREENE LIMITED (REGISTERED NUMBER: 01243329)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


3. ACCOUNTING POLICIES - continued

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.

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the income statement.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties an investments in non-puttable ordinary shares.

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.

Foreign currencies
Foreign currency transactions are translated into the functional currency using the spot exchange rate at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses are presented in the income statement within other income, or administrative expenses respectively.

FARLEYGREENE LIMITED (REGISTERED NUMBER: 01243329)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease and hire purchases are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Operating lease agreements
Rentals paid under operating leases are charged to the income statement on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Pension costs and other post-retirement benefits
The company contributes to a defined contribution plan for its employees. A defined plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the income statement when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in administrative expenses.

Interest income
Interest income is recognised in the income statement using the effective interest method.

Borrowing costs
All borrowing costs are recognised in the income statement in the year in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 28 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 July 2022 523 269,125 89,593
Additions - 65,415 15,122
At 30 June 2023 523 334,540 104,715
DEPRECIATION
At 1 July 2022 - 242,401 86,946
Charge for year 131 19,170 2,492
At 30 June 2023 131 261,571 89,438
NET BOOK VALUE
At 30 June 2023 392 72,969 15,277
At 30 June 2022 523 26,724 2,647

FARLEYGREENE LIMITED (REGISTERED NUMBER: 01243329)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. TANGIBLE FIXED ASSETS - continued

Office &
Motor computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 - 123,666 482,907
Additions 8,495 7,290 96,322
At 30 June 2023 8,495 130,956 579,229
DEPRECIATION
At 1 July 2022 - 114,242 443,589
Charge for year 1,053 5,961 28,807
At 30 June 2023 1,053 120,203 472,396
NET BOOK VALUE
At 30 June 2023 7,442 10,753 106,833
At 30 June 2022 - 9,424 39,318

Fixed assets, included in the above, which are held under finance leases are as follows:
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
Additions 23,333 10,324 33,657
At 30 June 2023 23,333 10,324 33,657
DEPRECIATION
Charge for year 1,157 600 1,757
At 30 June 2023 1,157 600 1,757
NET BOOK VALUE
At 30 June 2023 22,176 9,724 31,900

6. STOCKS
2023 2022
£    £   
Finished goods and goods for
resale 174,000 162,000
Work in progress (goods to be
sold) 610,219 701,465
784,219 863,465

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 380,073 667,762
Other debtors 99,317 96,618
479,390 764,380

FARLEYGREENE LIMITED (REGISTERED NUMBER: 01243329)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included in other debtors is £27,868 (2022: £27,039) in relation to prepayments and accrued income.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,075 197,619
Finance leases (see note 10) 8,371 -
Trade creditors 332,720 622,723
Taxation and social security 99,076 67,486
Other creditors 196,229 257,247
686,471 1,145,075

Included in other creditors is £7,741 (2022: £7,747) in relation to accruals and deferred income.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 41,667 147,018
Finance leases (see note 10) 28,349 -
Other creditors - 19,834
70,016 166,852

Amounts falling due in more than five years:

Repayable by instalments
Other loans more than 5 years
by instalments - 19,834
- 19,834

10. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2023 2022
£    £   
Net obligations repayable:
Within one year 8,371 -
Between one and five years 28,349 -
36,720 -

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Finance leases 36,720 -

Finance leases are secured over the assets to which they relate.

FARLEYGREENE LIMITED (REGISTERED NUMBER: 01243329)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
32 Ordinary shares £1 32 32

13. OTHER FINANCIAL COMMITMENTS

At 30 June 2023 the company had future minimum lease payments under non-cancellable operating leases as follows:

20232022
££
Not later than 1 year90,89368,292
Later than 1 year and not later than 5 years60,488118,381
151,381118,381