1 January 2023 false No description of principal activity Taxfiler 2024.5 07034766business:PrivateLimitedCompanyLtd2023-01-012023-12-31 070347662022-12-31 070347662023-01-012023-12-31 07034766business:AuditExemptWithAccountantsReport2023-01-012023-12-31 07034766business:FilletedAccounts2023-01-012023-12-31 070347662023-12-31 07034766business:Director12023-01-012023-12-31 07034766business:Director22023-01-012023-12-31 07034766business:RegisteredOffice2023-01-012023-12-31 070347662022-12-31 07034766core:WithinOneYear2023-12-31 07034766core:WithinOneYear2022-12-31 07034766core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 07034766core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 07034766core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 07034766core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 07034766core:PreviouslyStatedAmount2023-12-31 07034766core:PreviouslyStatedAmount2022-12-31 07034766business:SmallEntities2023-01-012023-12-31 07034766countries:EnglandWales2023-01-012023-12-31 07034766core:PlantMachinery2023-01-012023-12-31 07034766core:MotorVehicles2023-01-012023-12-31 07034766core:FurnitureFittings2023-01-012023-12-31 07034766core:IntangibleAssetsOtherThanGoodwill2022-12-31 07034766core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-31 07034766core:IntangibleAssetsOtherThanGoodwill2023-12-31 07034766core:PlantMachinery2022-12-31 07034766core:MotorVehicles2022-12-31 07034766core:FurnitureFittings2022-12-31 07034766core:PlantMachinery2023-12-31 07034766core:MotorVehicles2023-12-31 07034766core:FurnitureFittings2023-12-31 070347662022-01-012022-12-31 iso4217:GBP xbrli:pure
Company Registration No. 07034766 (England and Wales)
Far Eastern Manufacturing Limited Unaudited accounts for the year ended 31 December 2023
Far Eastern Manufacturing Limited Unaudited accounts Contents
Page
- 2 -
Far Eastern Manufacturing Limited Company Information for the year ended 31 December 2023
Directors
M Robinson M Steinhart
Company Number
07034766 (England and Wales)
Registered Office
Churchill House 137-139 Brent Street London NW4 4DJ
Accountants
Clearfin Accountants Limited Churchill House 137-139 Brent Street London NW4 4DJ
- 3 -
Far Eastern Manufacturing Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
11,704 
- 
Tangible assets
159,173 
151,459 
170,877 
151,459 
Current assets
Inventories
118,409 
82,412 
Debtors
4,295,034 
4,025,063 
Cash at bank and in hand
2,082,603 
1,687,323 
6,496,046 
5,794,798 
Creditors: amounts falling due within one year
(2,049,721)
(1,560,191)
Net current assets
4,446,325 
4,234,607 
Net assets
4,617,202 
4,386,066 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
4,617,200 
4,386,064 
Shareholders' funds
4,617,202 
4,386,066 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by
M Robinson Director Company Registration No. 07034766
- 4 -
Far Eastern Manufacturing Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Far Eastern Manufacturing Limited is a private company, limited by shares, registered in England and Wales, registration number 07034766. The registered office is Churchill House, 137-139 Brent Street, London, NW4 4DJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Fixtures & fittings
20% reducing balance
Inventories
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.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
- 5 -
Far Eastern Manufacturing Limited Notes to the Accounts for the year ended 31 December 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
- 
Additions
14,630 
At 31 December 2023
14,630 
Amortisation
At 1 January 2023
- 
Charge for the year
2,926 
At 31 December 2023
2,926 
Net book value
At 31 December 2023
11,704 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
363,591 
21,263 
82,253 
467,107 
Additions
32,074 
- 
15,434 
47,508 
At 31 December 2023
395,665 
21,263 
97,687 
514,615 
Depreciation
At 1 January 2023
256,615 
7,950 
51,083 
315,648 
Charge for the year
27,810 
2,663 
9,321 
39,794 
At 31 December 2023
284,425 
10,613 
60,404 
355,442 
Net book value
At 31 December 2023
111,240 
10,650 
37,283 
159,173 
At 31 December 2022
106,976 
13,313 
31,170 
151,459 
6
Inventories
2023 
2022 
£ 
£ 
Finished goods
118,409 
82,412 
118,409 
82,412 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
778,428 
860,816 
Amounts due from group undertakings etc.
3,073,899 
2,689,207 
Accrued income and prepayments
71,881 
31,769 
Other debtors
370,826 
443,271 
4,295,034 
4,025,063 
- 6 -
Far Eastern Manufacturing Limited Notes to the Accounts for the year ended 31 December 2023
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
953,777 
763,319 
VAT
243,519 
250,074 
Trade creditors
247,816 
156,478 
Taxes and social security
93,434 
233,574 
Other creditors
412,821 
1,187 
Loans from directors
7,487 
6 
Accruals
90,867 
155,553 
2,049,721 
1,560,191 
9
Average number of employees
During the year the average number of employees was 7 (2022: 8).
- 7 -