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REGISTERED NUMBER: 03477728 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 April 2023

for

FarSite Communications Limited

FarSite Communications Limited (Registered number: 03477728)

Contents of the Financial Statements
for the Year Ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FarSite Communications Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: D J Smith
L M Scott





SECRETARY: S J Scott





REGISTERED OFFICE: Grove House
Lutyens Close
Basingstoke
Hampshire
RG24 8AG





REGISTERED NUMBER: 03477728 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

FarSite Communications Limited (Registered number: 03477728)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 105,044 13,397

CURRENT ASSETS
Stocks 285,148 233,255
Debtors 5 55,647 15,249
Cash at bank 307,782 558,624
648,577 807,128
CREDITORS
Amounts falling due within one year 6 124,253 108,803
NET CURRENT ASSETS 524,324 698,325
TOTAL ASSETS LESS CURRENT
LIABILITIES

629,368

711,722

CREDITORS
Amounts falling due after more than one
year

7

12,500

62,500
NET ASSETS 616,868 649,222

CAPITAL AND RESERVES
Called up share capital 10 90 90
Capital redemption reserve 10 10
Retained earnings 616,768 649,122
SHAREHOLDERS' FUNDS 616,868 649,222

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

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

FarSite Communications Limited (Registered number: 03477728)

Balance Sheet - continued
30 April 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





D J Smith - Director


FarSite Communications Limited (Registered number: 03477728)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. STATUTORY INFORMATION

FarSite Communications 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on cost

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

Financial instruments
Debtors and creditors payable/receivable 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 profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


FarSite Communications Limited (Registered number: 03477728)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

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
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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2022 - 35,618 35,618
Additions 123,180 285 123,465
At 30 April 2023 123,180 35,903 159,083
DEPRECIATION
At 1 May 2022 - 22,221 22,221
Charge for year 24,636 7,182 31,818
At 30 April 2023 24,636 29,403 54,039
NET BOOK VALUE
At 30 April 2023 98,544 6,500 105,044
At 30 April 2022 - 13,397 13,397

FarSite Communications Limited (Registered number: 03477728)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 43,777 15,082
Other debtors 11,870 167
55,647 15,249

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors 15,573 32,921
Taxation and social security 4,560 6,563
Other creditors 54,120 19,319
124,253 108,803

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans 12,500 62,500

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.23 30.4.22
£    £   
Within one year - 21,667

9. SECURED DEBTS

The company has allowed a fixed and floating charge over the company's assets as security for the bank.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
7,200 A Ordinary 1p 72 72
1,800 B Ordinary 1p 18 18
90 90