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REGISTERED NUMBER: 04860550 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

W.J.FARRIER & SON LTD

W.J.FARRIER & SON LTD (REGISTERED NUMBER: 04860550)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.J.FARRIER & SON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mrs. L A Farrier
J R Farrier
Miss J A Farrier
Mrs S L Hignett





SECRETARY: Mrs. L A Farrier





REGISTERED OFFICE: Westgate House
87 St Dunstan's Street
Canterbury
Kent
CT2 8AE





REGISTERED NUMBER: 04860550 (England and Wales)





ACCOUNTANTS: Spain Brothers & Co
Chartered Accountants
Westgate House
87 St Dunstans Street
Canterbury
Kent
CT2 8AE

W.J.FARRIER & SON LTD (REGISTERED NUMBER: 04860550)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 355 2,112
Tangible assets 5 1,455,118 1,334,227
1,455,473 1,336,339

CURRENT ASSETS
Stocks 6 55,000 47,000
Debtors 7 596,502 643,494
Cash at bank and in hand 362,146 289,924
1,013,648 980,418
CREDITORS
Amounts falling due within one year 8 263,064 299,380
NET CURRENT ASSETS 750,584 681,038
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,206,057

2,017,377

CREDITORS
Amounts falling due after more than one
year

9

(86,601

)

(31,492

)

PROVISIONS FOR LIABILITIES (64,974 ) (46,711 )
NET ASSETS 2,054,482 1,939,174

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,054,382 1,939,074
SHAREHOLDERS' FUNDS 2,054,482 1,939,174

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

W.J.FARRIER & SON LTD (REGISTERED NUMBER: 04860550)

BALANCE SHEET - continued
31ST MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th September 2024 and were signed on its behalf by:




Mrs. L A Farrier - Director



J R Farrier - Director


W.J.FARRIER & SON LTD (REGISTERED NUMBER: 04860550)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

W.J.Farrier & Son Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings- 15% on reducing balance and 25% straight line
Motor vehicles- 25% on reducing balance
Freehold Property - Not Depreciated - To be maintained over indeterminate period

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing in stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.


W.J.FARRIER & SON LTD (REGISTERED NUMBER: 04860550)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The cost of the Company's Contributions to the employees' Pension Schemes is charged to the Profit and Loss Account as the contributions fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 38,335
AMORTISATION
At 1st April 2023 36,223
Charge for year 1,757
At 31st March 2024 37,980
NET BOOK VALUE
At 31st March 2024 355
At 31st March 2023 2,112

W.J.FARRIER & SON LTD (REGISTERED NUMBER: 04860550)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. TANGIBLE FIXED ASSETS
Assets Improveme
Freehold Under to
property Construction property
£    £    £   
COST
At 1st April 2023 847,122 22,934 77,096
Additions 102,304 10,194 -
Disposals - - -
Reclassification/transfer 3,025 (3,025 ) -
At 31st March 2024 952,451 30,103 77,096
DEPRECIATION
At 1st April 2023 - - -
Charge for year - - -
Eliminated on disposal - - -
At 31st March 2024 - - -
NET BOOK VALUE
At 31st March 2024 952,451 30,103 77,096
At 31st March 2023 847,122 22,934 77,096

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st April 2023 323,995 932,703 2,203,850
Additions 16,425 223,726 352,649
Disposals - (132,090 ) (132,090 )
Reclassification/transfer - - -
At 31st March 2024 340,420 1,024,339 2,424,409
DEPRECIATION
At 1st April 2023 165,622 704,001 869,623
Charge for year 26,252 82,314 108,566
Eliminated on disposal - (8,898 ) (8,898 )
At 31st March 2024 191,874 777,417 969,291
NET BOOK VALUE
At 31st March 2024 148,546 246,922 1,455,118
At 31st March 2023 158,373 228,702 1,334,227

W.J.FARRIER & SON LTD (REGISTERED NUMBER: 04860550)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st April 2023 48,195
Additions 176,556
Disposals (76,441 )
At 31st March 2024 148,310
DEPRECIATION
At 1st April 2023 12,049
Charge for year 34,066
At 31st March 2024 46,115
NET BOOK VALUE
At 31st March 2024 102,195
At 31st March 2023 36,146

6. STOCKS
2024 2023
£    £   
Stocks 55,000 47,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 564,694 612,116
Other debtors 17,000 20,000
Prepayments 14,808 11,378
596,502 643,494

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 4,712 1,460
Trade creditors 86,020 98,155
Tax 125,501 128,967
Social security and other taxes 14,582 10,254
Directors' current accounts 10,206 4,177
Accruals and deferred income 22,043 56,367
263,064 299,380

W.J.FARRIER & SON LTD (REGISTERED NUMBER: 04860550)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 86,601 31,492

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.