3 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-30 Sage Accounts Production Advanced 2023 - FRS102_2023 17,461 17,461 2,619 2,619 14,842 xbrli:pure xbrli:shares iso4217:GBP 11663775 2022-11-30 2023-11-29 11663775 2023-11-29 11663775 2022-11-29 11663775 2021-12-01 2022-11-29 11663775 2022-11-29 11663775 2021-11-30 11663775 bus:Director1 2022-11-30 2023-11-29 11663775 bus:Director2 2022-11-30 2023-11-29 11663775 core:FurnitureFittings 2023-11-29 11663775 core:FurnitureFittings 2022-11-30 2023-11-29 11663775 core:WithinOneYear 2023-11-29 11663775 core:WithinOneYear 2022-11-29 11663775 core:ShareCapital 2023-11-29 11663775 core:ShareCapital 2022-11-29 11663775 core:RetainedEarningsAccumulatedLosses 2023-11-29 11663775 core:RetainedEarningsAccumulatedLosses 2022-11-29 11663775 bus:SmallEntities 2022-11-30 2023-11-29 11663775 bus:AuditExemptWithAccountantsReport 2022-11-30 2023-11-29 11663775 bus:SmallCompaniesRegimeForAccounts 2022-11-30 2023-11-29 11663775 bus:PrivateLimitedCompanyLtd 2022-11-30 2023-11-29 11663775 bus:FullAccounts 2022-11-30 2023-11-29
COMPANY REGISTRATION NUMBER: 11663775
FARMER GRACY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 November 2023
FARMER GRACY LIMITED
STATEMENT OF FINANCIAL POSITION
29 November 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Tangible assets
5
14,842
CURRENT ASSETS
Debtors
6
2,400,753
1,663,976
Cash at bank and in hand
343,130
580,384
------------
------------
2,743,883
2,244,360
CREDITORS: amounts falling due within one year
7
( 1,078,582)
( 827,074)
------------
------------
NET CURRENT ASSETS
1,665,301
1,417,286
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,680,143
1,417,286
------------
------------
NET ASSETS
1,680,143
1,417,286
------------
------------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
1,680,043
1,417,186
------------
------------
SHAREHOLDERS FUNDS
1,680,143
1,417,286
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 29 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
FARMER GRACY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 November 2023
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
J J P Rotteveel
J W van den Berg
Director
Director
Company registration number: 11663775
FARMER GRACY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 29 NOVEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Bridge End, Leeds, West Yorkshire, LS1 4DJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 3 (2022: 2 ).
5. TANGIBLE ASSETS
Fixtures and fittings
£
Cost
At 30 November 2022
Additions
17,461
--------
At 29 November 2023
17,461
--------
Depreciation
At 30 November 2022
Charge for the period
2,619
--------
At 29 November 2023
2,619
--------
Carrying amount
At 29 November 2023
14,842
--------
At 29 November 2022
--------
6. DEBTORS
2023
2022
£
£
Trade debtors
58,983
30,404
Other debtors
2,341,770
1,633,572
------------
------------
2,400,753
1,663,976
------------
------------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,091
20,525
Corporation tax
78,338
2,443
Social security and other taxes
602,259
583,030
Other creditors
394,894
221,076
------------
---------
1,078,582
827,074
------------
---------