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REGISTERED NUMBER: 08690160 (England and Wales)






















Farslea Holdings Limited

Unaudited Financial Statements for the Year Ended 29 February 2024






Farslea Holdings Limited (Registered number: 08690160)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Farslea Holdings Limited

Company Information
for the year ended 29 February 2024







DIRECTORS: H Turner
M Turner
S Turner





SECRETARY: H Turner





REGISTERED OFFICE: Farslea
Starrcarr Lane
Brandesburton
East Yorkshire
YO25 8RT





REGISTERED NUMBER: 08690160 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Farslea Holdings Limited (Registered number: 08690160)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 479,601 489,135
Investments 5 102 102
479,703 489,237

CURRENT ASSETS
Debtors 6 554,076 349,468
Cash at bank 5,119,848 4,445,304
5,673,924 4,794,772
CREDITORS
Amounts falling due within one year 7 198,746 211,240
NET CURRENT ASSETS 5,475,178 4,583,532
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,954,881

5,072,769

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 5,954,781 5,072,669
SHAREHOLDERS' FUNDS 5,954,881 5,072,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 2 October 2024 and were signed on its behalf by:



M Turner - Director


Farslea Holdings Limited (Registered number: 08690160)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Farslea Holdings Limited 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.

Preparation of consolidated financial statements
The financial statements contain information about Farslea Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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.

Income
Rental income is measured at the fair value of the consideration received or receivable net of VAT and discounts.

Farslea Holdings Limited (Registered number: 08690160)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 500,894 19,950 520,844
DEPRECIATION
At 1 March 2023 29,714 1,995 31,709
Charge for year 5,943 3,591 9,534
At 29 February 2024 35,657 5,586 41,243
NET BOOK VALUE
At 29 February 2024 465,237 14,364 479,601
At 28 February 2023 471,180 17,955 489,135

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1 March 2023
and 29 February 2024 102
NET BOOK VALUE
At 29 February 2024 102
At 28 February 2023 102

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 116,661 83,838
Other debtors 437,415 265,630
554,076 349,468

Farslea Holdings Limited (Registered number: 08690160)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 4,162 57,339
Taxation and social security 142,692 73,002
Other creditors 51,892 80,899
198,746 211,240

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
76 Ordinary A 1 76 76
19 Ordinary B 1 19 19
5 Ordinary C 1 5 5
100 100

During the year, a resolution was passed to reclassify 100 Ordinary shares into 76 A Ordinary shares, 19 B Ordinary shares and 5 C Ordinary shares, with all classes ranking pari passu.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 28 February 2024, the directors owed the company £271,180 (2023 £208,695).

10. RELATED PARTY DISCLOSURES

During the year the company rented land and property to and received dividends from its subsidiary companies, who have common directorships, as follows:

Rents charged £36,000 (2023: £36,000)
Dividends received £1,090,000 (2023: £715,000)