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REGISTERED NUMBER: NC000207 (Northern Ireland)















Financial Statements for the Year Ended 30 April 2023

for

Farrell & Farrell LLP

Farrell & Farrell LLP (Registered number: NC000207)






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




Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Farrell & Farrell LLP

General Information
for the Year Ended 30 April 2023







DESIGNATED MEMBERS: Mrs E Farrell
J M Farrell





REGISTERED OFFICE: 40 Carquillan
Hilltown
Newry
Co. Down
BT34 5UQ





REGISTERED NUMBER: NC000207 (Northern Ireland)





ACCOUNTANTS: Farrell & Farrell
35 Main St
Hilltown
Newry
Co. Down
BT34 5UJ

Farrell & Farrell LLP (Registered number: NC000207)

Abridged Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 212,570 218,568

CURRENT ASSETS
Cash at bank and in hand 4,666 16,740

CREDITORS
Amounts falling due within one year 7,215 20,198
NET CURRENT LIABILITIES (2,549 ) (3,458 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

210,021

215,110

CREDITORS
Amounts falling due after more than one
year

66,602

76,022
NET ASSETS ATTRIBUTABLE TO
MEMBERS

143,419

139,088

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

143,419

139,088

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 143,419 139,088

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 April 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Farrell & Farrell LLP (Registered number: NC000207)

Abridged Balance Sheet - continued
30 April 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 30 January 2024 and were signed by:





J M Farrell - Designated member

Farrell & Farrell LLP (Registered number: NC000207)

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

1. STATUTORY INFORMATION

Farrell & Farrell LLP is registered in Northern Ireland. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2022
and 30 April 2023 299,895
DEPRECIATION
At 1 May 2022 81,327
Charge for year 5,998
At 30 April 2023 87,325
NET BOOK VALUE
At 30 April 2023 212,570
At 30 April 2022 218,568

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 7,215 29,618

The bank borrowings above are secured by the first legal charge over property at 35 and 35A Main Street, Hilltown.

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.