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REGISTERED NUMBER: 06263341 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Farrar & Co Properties Ltd.

Farrar & Co Properties Ltd. (Registered number: 06263341)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Farrar & Co Properties Ltd.

Company Information
for the Year Ended 28 February 2023







Directors: Mr J N Chambers
Mr T J Gilje





Secretary: Ms C D Chambers





Registered office: 152 Fulham Road
London
SW10 9PR





Registered number: 06263341 (England and Wales)





Accountants: Langricks (Holmfirth) Limited
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Farrar & Co Properties Ltd.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Farrar & Co Properties Ltd. for the year ended 28 February 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Farrar & Co Properties Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Farrar & Co Properties Ltd. and state those matters that we have agreed to state to the Board of Directors of Farrar & Co Properties Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Farrar & Co Properties Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Farrar & Co Properties Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Farrar & Co Properties Ltd.. You consider that Farrar & Co Properties Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Farrar & Co Properties Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Langricks (Holmfirth) Limited
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT


18 October 2023

Farrar & Co Properties Ltd. (Registered number: 06263341)

Statement of Financial Position
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 59,574 70,545
Investments 6 56,512 67,351
116,086 137,896

CURRENT ASSETS
Debtors 7 313,611 360,716
Cash at bank 1,125,439 1,099,865
1,439,050 1,460,581
CREDITORS
Amounts falling due within one year 8 1,218,933 1,278,786
NET CURRENT ASSETS 220,117 181,795
TOTAL ASSETS LESS CURRENT
LIABILITIES

336,203

319,691

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 336,103 319,591
336,203 319,691

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Farrar & Co Properties Ltd. (Registered number: 06263341)

Statement of Financial Position - continued
28 February 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 18 October 2023 and were signed on its behalf by:




Mr J N Chambers - Director



Mr T J Gilje - Director


Farrar & Co Properties Ltd. (Registered number: 06263341)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Farrar & Co Properties Ltd. 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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Goodwill, being the amount paid in connection with the acquisition of a business over the fair value of the assets acquired, is initially recognised at cost and amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.e financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.


Farrar & Co Properties Ltd. (Registered number: 06263341)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

Farrar & Co Properties Ltd. (Registered number: 06263341)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 March 2022 173,999
Disposals (7,500 )
At 28 February 2023 166,499
Amortisation
At 1 March 2022 173,999
Eliminated on disposal (7,500 )
At 28 February 2023 166,499
Net book value
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Short Plant and
leasehold machinery Totals
£    £    £   
Cost
At 1 March 2022 336,281 184,018 520,299
Additions - 13,464 13,464
At 28 February 2023 336,281 197,482 533,763
Depreciation
At 1 March 2022 287,362 162,392 449,754
Charge for year 13,856 10,579 24,435
At 28 February 2023 301,218 172,971 474,189
Net book value
At 28 February 2023 35,063 24,511 59,574
At 28 February 2022 48,919 21,626 70,545

Farrar & Co Properties Ltd. (Registered number: 06263341)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. FIXED ASSET INVESTMENTS
Other
investment
£   
Cost or valuation
At 1 March 2022 67,351
Revaluations (10,839 )
At 28 February 2023 56,512
Net book value
At 28 February 2023 56,512
At 28 February 2022 67,351

During the year fixed asset investments were revalued to market value. The historic cost of these investments is £147,587. (2020: £147,567)

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 141,812 258,524
Amounts owed by group undertakings 80,143 56,379
Other debtors 91,656 45,813
313,611 360,716

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 47,032 51,039
Amounts owed to group undertakings 887,760 844,001
Taxation and social security 224,287 331,857
Other creditors 59,854 51,889
1,218,933 1,278,786

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
28.2.23 28.2.22
£    £   
Within one year 209,495 204,000
Between one and five years 458,749 590,792
In more than five years 637,780 709,280
1,306,024 1,504,072

Farrar & Co Properties Ltd. (Registered number: 06263341)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors, and there is no individual controlling party.
The company is a wholly owned subsidiary of Farrar & Co Ltd.