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REGISTERED NUMBER: 03564815 (England and Wales)


Financial Statements for the Year Ended 30 September 2023

for

Farsan Ltd

Farsan Ltd (Registered number: 03564815)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Farsan Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr Nainesh Kumar Patel
Mrs Kashmira Patel
Mr Nikesh Nainesh Patel
Mr Nikul Nainesh Patel





SECRETARY: Mrs Kashmira Patel





REGISTERED OFFICE: 7 Ash Street
Leicester
Leicestershire
LE5 0DA





REGISTERED NUMBER: 03564815 (England and Wales)






Farsan Ltd (Registered number: 03564815)

Statement of Financial Position
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,055,219 1,049,201

CURRENT ASSETS
Inventories 291,286 208,930
Debtors 5 384,236 348,967
Cash at bank and in hand 34,555 63,059
710,077 620,956
CREDITORS
Amounts falling due within one year 6 708,685 625,939
NET CURRENT ASSETS/(LIABILITIES) 1,392 (4,983 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,056,611

1,044,218

CREDITORS
Amounts falling due after more than one
year

7

91,611

197,351
NET ASSETS 965,000 846,867

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Revaluation reserve 10 702,895 702,895
Retained earnings 252,105 133,972
SHAREHOLDER FUNDS 965,000 846,867

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

Farsan Ltd (Registered number: 03564815)

Statement of Financial Position - continued
30 September 2023


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 26 September 2024 and were signed on its behalf by:





Mr Nainesh Kumar Patel - Director


Farsan Ltd (Registered number: 03564815)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Farsan 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.

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.

Turnover
Turnover represents net sales of invoiced goods and services excluding Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 10% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Going concern
These accounts have been prepared on a going concern basis. This is dependent on the continuing support of the directors and shareholders. The directors and shareholders have confirmed that they will not be seeking repayment of their loans for the foreseeable future, and until such time that there are sufficient reserves within shareholders fund to do so.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 30 ) .

Farsan Ltd (Registered number: 03564815)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 1,049,285 487,234 1,536,519
Additions - 34,807 34,807
At 30 September 2023 1,049,285 522,041 1,571,326
DEPRECIATION
At 1 October 2022 224,285 263,033 487,318
Charge for year - 28,789 28,789
At 30 September 2023 224,285 291,822 516,107
NET BOOK VALUE
At 30 September 2023 825,000 230,219 1,055,219
At 30 September 2022 825,000 224,201 1,049,201

Freehold property includes the property at revalued amount of £825,000 which is not depreciated as permissible under FRS 102.


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 295,830 262,671
Other debtors 88,406 86,296
384,236 348,967

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 334,070 235,587
Trade creditors 284,531 338,855
Taxation and social security 19,596 53,908
Other creditors 70,488 (2,411 )
708,685 625,939

Farsan Ltd (Registered number: 03564815)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans 91,611 197,351

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank overdrafts 267,008 168,525
Bank loans 158,673 264,413
425,681 432,938

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
10,000 Ordinary 1 10,000 10,000

10. RESERVES
Revaluation
reserve
£   
At 1 October 2022
and 30 September 2023 702,895