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Registered number: 11667915
Farnham School Of Furniture Making Ltd
Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 11667915
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 68,018 1,445
68,018 1,445
CURRENT ASSETS
Stocks 5 1,809 2,925
Debtors 6 22,316 1,339
Cash at bank and in hand 30,184 6,150
54,309 10,414
Creditors: Amounts Falling Due Within One Year 7 (158,897 ) (48,506 )
NET CURRENT ASSETS (LIABILITIES) (104,588 ) (38,092 )
TOTAL ASSETS LESS CURRENT LIABILITIES (36,570 ) (36,647 )
Creditors: Amounts Falling Due After More Than One Year 8 (11,931 ) (17,680 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,487 ) (275 )
NET LIABILITIES (49,988 ) (54,602 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement (50,088 ) (54,702 )
SHAREHOLDERS' FUNDS (49,988) (54,602)
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Aidan McEvoy
Director
28/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Farnham School Of Furniture Making Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11667915 . The registered office is The Workshop, Willey Park Farm, Alton Road, Farnham, GU10 5ER.
The presentation currency is £ sterling.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The company is considered to be a going concern, as it is financially supported by its directors and shareholders. It continues to trade and the directors have agreed to not seek repayments for their loans until the company's retained earnings deficit has been cleared.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. Turnover is recognised from the date the course starts and is spread evenly over the course duration.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% straight line
Plant & Machinery 25% straight line
Computer Equipment 25% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 - 62,149 250 62,399
Additions 72,184 2,409 1,114 75,707
As at 30 November 2023 72,184 64,558 1,364 138,106
Depreciation
As at 1 December 2022 - 60,704 250 60,954
Provided during the period 7,218 1,637 279 9,134
As at 30 November 2023 7,218 62,341 529 70,088
Net Book Value
As at 30 November 2023 64,966 2,217 835 68,018
As at 1 December 2022 - 1,445 - 1,445
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Page 4
5. Stocks
2023 2022
£ £
Materials 1,809 2,925
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 22,314 1,339
Other debtors 2 -
22,316 1,339
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 493 -
Bank loans and overdrafts 5,747 5,144
Other creditors 150,720 43,359
Taxation and social security 1,937 3
158,897 48,506
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 11,931 17,680
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4