Company Registration No. NI632312 (Northern Ireland)
Farland Advisory Limited
Unaudited accounts
for the year ended 31 July 2023
Farland Advisory Limited
Unaudited accounts
Contents
Farland Advisory Limited
Company Information
for the year ended 31 July 2023
Company Number
NI632312 (Northern Ireland)
Registered Office
100 Cornakinnegar Road
Lurgan
Craigavon
Armagh
BT67 9JP
Northern Ireland
Accountants
Martina Harbinson
2 Kiln Lodge
Lurgan
Craigavon
Co. Armagh
BT66 6HT
Farland Advisory Limited
Statement of financial position
as at 31 July 2023
Cash at bank and in hand
227,118
227,324
Creditors: amounts falling due within one year
(197)
(134)
Net current assets
226,921
227,190
Net assets
226,921
227,190
Called up share capital
1
1
Profit and loss account
226,920
227,189
Shareholders' funds
226,921
227,190
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 March 2024 and were signed on its behalf by
Claudia Farrell
Director
Company Registration No. NI632312
Farland Advisory Limited
Notes to the Accounts
for the year ended 31 July 2023
Farland Advisory Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI632312. The registered office is 100 Cornakinnegar Road, Lurgan, Craigavon, Armagh, BT67 9JP, Northern Ireland.
2
Compliance with accounting standards
The financial statements of the company for the year ended 31 July 2019 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006. These are the first set of financial statements prepared in accordance with FRS 102.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it his classified as a small company.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Farland Advisory Limited
Notes to the Accounts
for the year ended 31 July 2023
5
Capital commitments
2023
2022
The company had no material capital commitments at the year ended 31 July 2023
6
Average number of employees
During the year the average number of employees was 0 (2022: 0).