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Registered number: 11520509
Farah Holdings Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Smith Hannah Limited
Chartered Certified Accountants
50 Woodgate
Leicester
LE3 5GF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11520509
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 106,400 121,600
Tangible Assets 5 3,110,086 3,110,086
Investments 6 200 200
3,216,686 3,231,886
CURRENT ASSETS
Debtors 7 622,901 203,888
Cash at bank and in hand 95,403 21,510
718,304 225,398
Creditors: Amounts Falling Due Within One Year 8 (89,185 ) (101,525 )
NET CURRENT ASSETS (LIABILITIES) 629,119 123,873
TOTAL ASSETS LESS CURRENT LIABILITIES 3,845,805 3,355,759
Creditors: Amounts Falling Due After More Than One Year 9 (2,005,895 ) (1,702,432 )
NET ASSETS 1,839,910 1,653,327
CAPITAL AND RESERVES
Called up share capital 220 220
Share premium account 656,028 656,028
Profit and Loss Account 1,183,662 997,079
SHAREHOLDERS' FUNDS 1,839,910 1,653,327
Page 1
Page 2
For the year ending 31 December 2023 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.
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 Profit and Loss Account.
On behalf of the board
Mr Mohammad Anwar
Director
8th July 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Farah Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11520509 . The registered office is 50 Woodgate, Leicester, LE3 5GF.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is amortised over iits estimated economic life of 10 years.
2.4. Investment Properties
Investment properties are not subject to periodic charges for depreciation.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 4
2.6. Group accounts
The financial statements present information about the company as an individual undertaking and not about the group. The company and its subsidiary undertakings comprise of a small group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 152,000
As at 31 December 2023 152,000
Amortisation
As at 1 January 2023 30,400
Provided during the period 15,200
As at 31 December 2023 45,600
Net Book Value
As at 31 December 2023 106,400
As at 1 January 2023 121,600
5. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 January 2023 3,110,086
As at 31 December 2023 3,110,086
Net Book Value
As at 31 December 2023 3,110,086
As at 1 January 2023 3,110,086
Page 4
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6. Investments
Unlisted
£
Cost
As at 1 January 2023 200
As at 31 December 2023 200
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 200
As at 1 January 2023 200
The company owns 100% of the issued share capital of Allag Care Limited and Care 24-7 Leicester Limited, companies incorporated in England & Wales.
7. Debtors
2023 2022
£ £
Due within one year
Amounts owed by group undertakings 622,901 203,888
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 60,329 60,329
Corporation tax 23,557 25,471
Other creditors 5,299 15,725
89,185 101,525
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 675,846 678,073
Amounts owed to group undertakings 1,330,049 1,024,359
2,005,895 1,702,432
Page 5
Page 6
10. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 724,156 722,404
Page 6