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Company Registration No. 12518110 (England and Wales)
Farnham Homes (Surrey) Limited Unaudited accounts for the year ended 31 March 2024
Farnham Homes (Surrey) Limited Unaudited accounts Contents
Page
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Farnham Homes (Surrey) Limited Company Information for the year ended 31 March 2024
Directors
George Dean Bowden David Paul Varney Joshua William Varney
Company Number
12518110 (England and Wales)
Registered Office
Wolfe Mead Farnham Road Bordon Hampshire GU35 0NH England
Accountants
M A Accountancy Group Wolfe Mead Farnham Road Bordon Hampshire GU35 0NH
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Farnham Homes (Surrey) Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
83,803 
58,738 
Current assets
Inventories
2,000 
2,000 
Debtors
10,827 
15,020 
Cash at bank and in hand
184,269 
237,868 
197,096 
254,888 
Creditors: amounts falling due within one year
(120,767)
(143,245)
Net current assets
76,329 
111,643 
Total assets less current liabilities
160,132 
170,381 
Creditors: amounts falling due after more than one year
(24,680)
(4,399)
Provisions for liabilities
Deferred tax
(15,922)
(11,160)
Net assets
119,530 
154,822 
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
119,527 
154,819 
Shareholders' funds
119,530 
154,822 
For the year ending 31 March 2024 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 7 June 2024 and were signed on its behalf by
David Paul Varney Director Company Registration No. 12518110
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Farnham Homes (Surrey) Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Farnham Homes (Surrey) Limited is a private company, limited by shares, registered in England and Wales, registration number 12518110. The registered office is Wolfe Mead, Farnham Road, Bordon, Hampshire, GU35 0NH, England.
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.
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.
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
25% on reducing balance
Motor vehicles
25% on reducing balance
Computer equipment
25% on reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Farnham Homes (Surrey) Limited Notes to the Accounts for the year ended 31 March 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
17,202 
58,290 
354 
75,846 
Additions
- 
76,974 
- 
76,974 
Disposals
- 
(43,790)
- 
(43,790)
At 31 March 2024
17,202 
91,474 
354 
109,030 
Depreciation
At 1 April 2023
4,547 
12,480 
81 
17,108 
Charge for the year
3,164 
13,494 
89 
16,747 
On disposals
- 
(8,628)
- 
(8,628)
At 31 March 2024
7,711 
17,346 
170 
25,227 
Net book value
At 31 March 2024
9,491 
74,128 
184 
83,803 
At 31 March 2023
12,655 
45,810 
273 
58,738 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
37,085 
11,746 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,940 
10,196 
Accrued income and prepayments
4,197 
4,261 
Other debtors
2,690 
563 
10,827 
15,020 
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Farnham Homes (Surrey) Limited Notes to the Accounts for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
5,986 
4,798 
Trade creditors
35,896 
30,570 
Taxes and social security
59,815 
75,128 
Other creditors
15,000 
30,000 
Loans from directors
3,270 
1,949 
Accruals
800 
800 
120,767 
143,245 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
24,680 
4,399 
8
Average number of employees
During the year the average number of employees was 4 (2023: 5).
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