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REGISTERED NUMBER: 11033888 (England and Wales)












Farmworld Hydraulics Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Farmworld Hydraulics Limited (Registered number: 11033888)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Farmworld Hydraulics Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs J Norris
M T Norris





REGISTERED OFFICE: Unit 8, Daniels Water Farm
Park Lane
Great Chart
Ashford
Kent
TN26 1JY





REGISTERED NUMBER: 11033888 (England and Wales)





ACCOUNTANTS: Edwards & Co
Chartered Accountants
Unit 1, Goat Lees
Trinity Road
Ashford
Kent
TN25 4AB

Farmworld Hydraulics Limited (Registered number: 11033888)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,630 39

CURRENT ASSETS
Inventories 18,732 18,070
Debtors 5 11,073 9,425
Cash at bank and in hand 44,052 32,011
73,857 59,506
CREDITORS
Amounts falling due within one year 6 36,926 16,336
NET CURRENT ASSETS 36,931 43,170
TOTAL ASSETS LESS CURRENT LIABILITIES 39,561 43,209

PROVISIONS FOR LIABILITIES 284 -
NET ASSETS 39,277 43,209

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 39,077 43,009
SHAREHOLDERS' FUNDS 39,277 43,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Farmworld Hydraulics Limited (Registered number: 11033888)

Statement of Financial Position - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by:





M T Norris - Director


Farmworld Hydraulics Limited (Registered number: 11033888)

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

1. STATUTORY INFORMATION

Farmworld Hydraulics 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Income recognition
Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

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 by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 by the year end.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Farmworld Hydraulics Limited (Registered number: 11033888)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 24,537
Additions 3,007
At 31 December 2023 27,544
DEPRECIATION
At 1 January 2023 24,498
Charge for year 416
At 31 December 2023 24,914
NET BOOK VALUE
At 31 December 2023 2,630
At 31 December 2022 39

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,073 9,425

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 7,107 6,708
Taxation and social security 6,208 4,660
Other creditors 23,611 4,968
36,926 16,336