REGISTERED NUMBER: |
CESSATION FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2023 TO 31 JULY 2024 |
FOR |
FARAH TRADING LIMITED |
REGISTERED NUMBER: |
CESSATION FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2023 TO 31 JULY 2024 |
FOR |
FARAH TRADING LIMITED |
FARAH TRADING LIMITED (REGISTERED NUMBER: 06825419) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 March 2023 to 31 July 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
FARAH TRADING LIMITED |
COMPANY INFORMATION |
for the Period 1 March 2023 to 31 July 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 London Mews |
Paddington |
LONDON |
W2 1HY |
FARAH TRADING LIMITED (REGISTERED NUMBER: 06825419) |
STATEMENT OF FINANCIAL POSITION |
31 July 2024 |
31.7.24 | 28.2.23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | 7 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
FARAH TRADING LIMITED (REGISTERED NUMBER: 06825419) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 March 2023 to 31 July 2024 |
1. | STATUTORY INFORMATION |
Farah Trading Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured as the fair value of the consideration received or receivable. The following criteria must also be met before revenue is recognised: |
Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the Company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors. |
The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date. |
Taxation |
Taxation for the period comprises of current 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 assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the statement of financial position date. |
Foreign currencies |
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
FARAH TRADING LIMITED (REGISTERED NUMBER: 06825419) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 March 2023 to 31 July 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 28.2.23 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 28.2.23 |
£ | £ |
Taxation and social security |
Other creditors |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.24 | 28.2.23 |
value: | £ | £ |
Ordinary | £1 | 6,000 | 6,000 |
7. | RESERVES |
Other than dividends, the only movement in retained earnings is the result for the year. |