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FARTOWN LIMITED

Registered Number
08070003
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

FARTOWN LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Dr Sally E Fitzgibbon

Registered Address

306 Bradford Road
Huddersfield
HD1 6LQ

Registered Number

08070003 (England and Wales)
FARTOWN LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4195,643192,671
195,643192,671
Current assets
Stocks55,5006,500
Debtors6161,835126,490
Cash at bank and on hand4,74325,102
172,078158,092
Creditors amounts falling due within one year7(98,293)(88,979)
Net current assets (liabilities)73,78569,113
Total assets less current liabilities269,428261,784
Creditors amounts falling due after one year8(120,000)(120,000)
Provisions for liabilities9(47,803)(35,581)
Net assets101,625106,203
Capital and reserves
Called up share capital100100
Profit and loss account101,525106,103
Shareholders' funds101,625106,203
The financial statements were approved and authorised for issue by the Director on 19 August 2024, and are signed on its behalf by:
Dr Sally E Fitzgibbon
Director
Registered Company No. 08070003
FARTOWN LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
The revenue shown in the profit and loss account represents income receivable from dental treatments carried out during the period. Revenue in respect of dental treatment uncompleted at the year end date is recognised by reference to the stage of completion.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year811
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 23702,161702,161
At 31 March 24702,161702,161
Amortisation and impairment
At 01 April 23702,161702,161
At 31 March 24702,161702,161
Net book value
At 31 March 24--
At 31 March 23--
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 23167,068222,83011,30022,084423,282
Additions-15,080-1,39416,474
Disposals---(8,330)(8,330)
At 31 March 24167,068237,91011,30015,148431,426
Depreciation and impairment
At 01 April 23-200,70211,30018,609230,611
Charge for year-9,563-46310,026
On disposals---(4,854)(4,854)
At 31 March 24-210,26511,30014,218235,783
Net book value
At 31 March 24167,06827,645-930195,643
At 31 March 23167,06822,128-3,475192,671
5.Stocks

2024

2023

££
Raw materials and consumables5,5006,500
Total5,5006,500
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables84,76051,585
Other debtors77,07574,905
Total161,835126,490
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables30,23226,354
Bank borrowings and overdrafts197183
Taxation and social security66,68457,990
Other creditors54662
Accrued liabilities and deferred income1,1263,790
Total98,29388,979
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2024

2023

££
Other creditors120,000120,000
Total120,000120,000
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)47,80335,581
Total47,80335,581
10.Related party transactions
During the year the director loaned the company £54 (2023: -£662). This balance is included within other creditors. Interest was charged on the loan at the UK market rate.