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REGISTERED NUMBER: 00586966 (England and Wales)















J.C. FARLEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






J.C. FARLEY LIMITED (REGISTERED NUMBER: 00586966)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J.C. FARLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: J J Farley
O Farley





SECRETARY: J J Farley





REGISTERED OFFICE: 424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ





REGISTERED NUMBER: 00586966 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

J.C. FARLEY LIMITED (REGISTERED NUMBER: 00586966)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 70,947 84,548
70,947 84,548

CURRENT ASSETS
Stocks 167,541 159,874
Debtors 6 139,290 161,646
Cash at bank and in hand 125 29,230
306,956 350,750
CREDITORS
Amounts falling due within one year 7 (309,363 ) (378,865 )
NET CURRENT LIABILITIES (2,407 ) (28,115 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,540

56,433

CREDITORS
Amounts falling due after more than one
year

8

(44,639

)

(42,171

)
NET ASSETS 23,901 14,262

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 21,901 12,262
SHAREHOLDERS' FUNDS 23,901 14,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

J.C. FARLEY LIMITED (REGISTERED NUMBER: 00586966)

BALANCE SHEET - continued
30 NOVEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





O Farley - Director


J.C. FARLEY LIMITED (REGISTERED NUMBER: 00586966)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

J.C. Farley 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.

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.

The accounts are prepared on a going concern basis.

The directors have considered the future trading of the company and are satisfied that the company has the ability to meet its liability as they fall due.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 or substantively enacted by the balance sheet date.


J.C. FARLEY LIMITED (REGISTERED NUMBER: 00586966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 1,500
AMORTISATION
At 1 December 2022
and 30 November 2023 1,500
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

J.C. FARLEY LIMITED (REGISTERED NUMBER: 00586966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 142,118 92,195 20,010 254,323
Additions - - 2,439 2,439
Disposals - - (1,512 ) (1,512 )
At 30 November 2023 142,118 92,195 20,937 255,250
DEPRECIATION
At 1 December 2022 87,985 61,781 20,009 169,775
Charge for year 8,124 7,608 308 16,040
Eliminated on disposal - - (1,512 ) (1,512 )
At 30 November 2023 96,109 69,389 18,805 184,303
NET BOOK VALUE
At 30 November 2023 46,009 22,806 2,132 70,947
At 30 November 2022 54,133 30,414 1 84,548

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2022
and 30 November 2023 23,495
DEPRECIATION
At 1 December 2022 1,713
Charge for year 5,450
At 30 November 2023 7,163
NET BOOK VALUE
At 30 November 2023 16,332
At 30 November 2022 21,782

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,762 31,382
Other debtors 130,528 130,264
139,290 161,646

J.C. FARLEY LIMITED (REGISTERED NUMBER: 00586966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,643 13,291
Hire purchase contracts 5,723 5,132
Trade creditors 89,524 176,459
Taxation and social security 56,249 53,430
Other creditors 155,224 130,553
309,363 378,865

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 33,191 25,000
Hire purchase contracts 11,448 17,171
44,639 42,171

9. OTHER FINANCIAL COMMITMENTS

The company continues to occupy premises with rent of £34,996 per annum from 1 February 2024.