0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 44,675 39,675 84,350 16,209 16,209 68,141 44,675 xbrli:pure xbrli:shares iso4217:GBP 12509370 2023-01-01 2023-12-31 12509370 2023-12-31 12509370 2022-12-31 12509370 2022-01-01 2022-12-31 12509370 2022-12-31 12509370 2021-12-31 12509370 bus:Director2 2023-01-01 2023-12-31 12509370 core:WithinOneYear 2023-12-31 12509370 core:WithinOneYear 2022-12-31 12509370 core:ShareCapital 2023-12-31 12509370 core:ShareCapital 2022-12-31 12509370 core:RetainedEarningsAccumulatedLosses 2023-12-31 12509370 core:RetainedEarningsAccumulatedLosses 2022-12-31 12509370 bus:SmallEntities 2023-01-01 2023-12-31 12509370 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12509370 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12509370 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12509370 bus:FullAccounts 2023-01-01 2023-12-31 12509370 core:CustomerRelationships 2022-12-31 12509370 core:CustomerRelationships 2023-01-01 2023-12-31 12509370 core:CustomerRelationships 2023-12-31
COMPANY REGISTRATION NUMBER: 12509370
Price Ferguson (Farnham) Limited
Filleted Unaudited Financial Statements
31 December 2023
Price Ferguson (Farnham) Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
4
68,141
44,675
Current assets
Debtors
5
977
Cash at bank and in hand
44,178
40,259
--------
--------
44,178
41,236
Creditors: amounts falling due within one year
6
97,594
89,640
--------
--------
Net current liabilities
53,416
48,404
--------
--------
Total assets less current liabilities
14,725
( 3,729)
--------
-------
Net assets/(liabilities)
14,725
( 3,729)
--------
-------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
13,725
( 4,729)
--------
-------
Shareholders funds/(deficit)
14,725
( 3,729)
--------
-------
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 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year 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 .
Price Ferguson (Farnham) Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 18 September 2024 , and are signed on behalf of the board by:
J D R Williams
Director
Company registration number: 12509370
Price Ferguson (Farnham) Limited
Notes to the Financial Statements
Year ended 31 December 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 100 High Path road, Guildford, Surrey, GU1 2QP.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis as the director has expressed a willingness to support the company for the foreseeable future.
Revenue recognition
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses once complete. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Intangible assets
Intangibles
£
Cost
At 1 January 2023
44,675
Additions
39,675
--------
At 31 December 2023
84,350
--------
Amortisation
Charge for the year
16,209
--------
At 31 December 2023
16,209
--------
Carrying amount
At 31 December 2023
68,141
--------
At 31 December 2022
44,675
--------
5. Debtors
2023
2022
£
£
Other debtors
977
----
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
7,154
Other creditors
90,440
89,640
--------
--------
97,594
89,640
--------
--------