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COMPANY REGISTRATION NUMBER: 11663775
FARMER GRACY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 November 2022
FARMER GRACY LIMITED
STATEMENT OF FINANCIAL POSITION
29 November 2022
29 Nov 22
30 Nov 21
Note
£
£
£
CURRENT ASSETS
Debtors
5
1,663,976
1,479,790
Cash at bank and in hand
580,384
590,811
------------
------------
2,244,360
2,070,601
CREDITORS: amounts falling due within one year
6
( 827,074)
( 663,795)
------------
------------
NET CURRENT ASSETS
1,417,286
1,406,806
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,417,286
1,406,806
------------
------------
NET ASSETS
1,417,286
1,406,806
------------
------------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
1,417,186
1,406,706
------------
------------
SHAREHOLDERS FUNDS
1,417,286
1,406,806
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 29 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 October 2023 , and are signed on behalf of the board by:
J J P Rotteveel
J W van den Berg
Director
Director
Company registration number: 11663775
FARMER GRACY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 DECEMBER 2021 TO 29 NOVEMBER 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Bridge End, Leeds, West Yorkshire, LS1 4DJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 2 (2021: 2 ).
5. DEBTORS
29 Nov 22
30 Nov 21
£
£
Trade debtors
30,404
Other debtors
1,633,572
1,479,790
------------
------------
1,663,976
1,479,790
------------
------------
6. CREDITORS: amounts falling due within one year
29 Nov 22
30 Nov 21
£
£
Trade creditors
20,525
30,198
Corporation tax
2,443
172,951
Social security and other taxes
583,030
446,352
Other creditors
5,794
Other creditors
221,076
8,500
---------
---------
827,074
663,795
---------
---------