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REGISTERED NUMBER: 04260918 (England and Wales)













Audited Financial Statements

for the Year Ended 31st December 2023

for

FAHR Industries Limited

FAHR Industries Limited (Registered number: 04260918)

Contents of the Financial Statements
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FAHR Industries Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Mrs K A Funnell
R C Funnell
P E Holden
A Whittles





SECRETARY: Mrs K A Funnell





REGISTERED OFFICE: Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT





REGISTERED NUMBER: 04260918 (England and Wales)





AUDITORS: Whiteleys
Chartered Certified Accountants
& Statutory Auditor
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

FAHR Industries Limited (Registered number: 04260918)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,302,735 1,381,535

CURRENT ASSETS
Stocks 6 1,248,171 1,591,818
Debtors 7 1,037,072 1,018,321
Cash at bank and in hand 3,261,857 2,333,634
5,547,100 4,943,773
CREDITORS
Amounts falling due within one year 8 1,004,492 901,278
NET CURRENT ASSETS 4,542,608 4,042,495
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,845,343

5,424,030

PROVISIONS FOR LIABILITIES 50,949 58,406
NET ASSETS 5,794,394 5,365,624

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,794,294 5,365,524
SHAREHOLDERS' FUNDS 5,794,394 5,365,624

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th April 2024 and were signed on its behalf by:





R C Funnell - Director


FAHR Industries Limited (Registered number: 04260918)

Notes to the Financial Statements
for the Year Ended 31st December 2023


1. STATUTORY INFORMATION

FAHR Industries 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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Freehold property-2% on cost
Plant and machinery-25% reducing balance
Equipment and fixtures-25% reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Stocks
Stocks are measured at the lower of cost and selling price less cost to complete and sell.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.


FAHR Industries Limited (Registered number: 04260918)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


3. ACCOUNTING POLICIES - continued
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
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

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.

FAHR Industries Limited (Registered number: 04260918)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


3. ACCOUNTING POLICIES - continued

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

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 31 ) .

FAHR Industries Limited (Registered number: 04260918)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


5. TANGIBLE FIXED ASSETS
Equipment
Freehold Plant and and
property machinery fixtures Totals
£    £    £    £   
COST
At 1st January 2023 1,502,037 603,376 382,875 2,488,288
Additions - 6,744 15,857 22,601
Disposals - (27,199 ) - (27,199 )
At 31st December 2023 1,502,037 582,921 398,732 2,483,690
DEPRECIATION
At 1st January 2023 373,060 497,596 236,097 1,106,753
Charge for year 30,040 27,273 40,659 97,972
Eliminated on disposal - (23,770 ) - (23,770 )
At 31st December 2023 403,100 501,099 276,756 1,180,955
NET BOOK VALUE
At 31st December 2023 1,098,937 81,822 121,976 1,302,735
At 31st December 2022 1,128,977 105,780 146,778 1,381,535

6. STOCKS
2023 2022
£    £   
Stocks 1,248,171 1,591,818

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 952,920 938,748
Other debtors 84,152 79,573
1,037,072 1,018,321

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 450,140 519,886
Taxation and social security 249,138 344,898
Other creditors 305,214 36,494
1,004,492 901,278

FAHR Industries Limited (Registered number: 04260918)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 12,678 11,229
Between one and five years 51,438 2,987
In more than five years 725 -
64,841 14,216

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Neil Dennis Hollingshead FCCA (Senior Statutory Auditor)
for and on behalf of Whiteleys

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.