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Company Registration No. SC369507 (Scotland)
Farragon Management Ltd Unaudited accounts for the year ended 31 December 2023
Farragon Management Ltd Unaudited accounts Contents
Page
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Farragon Management Ltd Company Information for the year ended 31 December 2023
Directors
Aileen Burnett Grant MIddleton
Company Number
SC369507 (Scotland)
Registered Office
Farragon, Petersmuir Road East Saltoun Pencaitland TRANENT East Lothian EH34 5EB Scotland
Accountants
AGL Tax Solutions LLP 2A Station Yard Haddington East Lothian EH41 3PP
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Farragon Management Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
102,566 
107,388 
Cash at bank and in hand
210 
405 
102,776 
107,793 
Creditors: amounts falling due within one year
(7,377)
(10,286)
Net current assets
95,399 
97,507 
Net assets
95,399 
97,507 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
95,397 
97,505 
Shareholders' funds
95,399 
97,507 
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 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 25 September 2024 and were signed on its behalf by
Grant MIddleton Director Company Registration No. SC369507
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Farragon Management Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Farragon Management Ltd is a private company, limited by shares, registered in Scotland, registration number SC369507. The registered office is Farragon, Petersmuir Road, East Saltoun Pencaitland, TRANENT, East Lothian, EH34 5EB, Scotland.
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
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company’s ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue. The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current 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.
Presentation currency
The accounts are presented in £ sterling.
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Farragon Management Ltd Notes to the Accounts for the year ended 31 December 2023
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
4,267 
Other debtors
102,566 
103,121 
102,566 
107,388 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
- 
2,908 
Loans from directors
7,377 
7,378 
7,377 
10,286 
6
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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