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Registered number: 2571289
FARNCOMBE SMITH 1990 LTD
Financial Statements
For The Year Ended 31 January 2024
HOLLANGER BURKE LTD
Financial Statements
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mr RODERICK FARNCOMBE SMITH
Company Number 2571289
Registered Office PORTERS COTTAGE
ASCOT ROAD
HOLYPORT, MAIDENHEAD
BERKS
SL6 3LD
Accountants HOLLANGER BURKE LTD
7 FARRFIELD
UPPER STRATTON
SWINDON
WILTSHIRE
SN2 7QJ
Page 1
Page 2
Balance Sheet
Registered number: 2571289
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 972,594 990,236
972,594 990,236
CURRENT ASSETS
Stocks 5 622,857 455,019
Debtors 6 353,919 138,072
Cash at bank and in hand 1,075,579 1,855,810
2,052,355 2,448,901
Creditors: Amounts Falling Due Within One Year 7 (291,373 ) (303,204 )
NET CURRENT ASSETS (LIABILITIES) 1,760,982 2,145,697
TOTAL ASSETS LESS CURRENT LIABILITIES 2,733,576 3,135,933
NET ASSETS 2,733,576 3,135,933
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 2,733,476 3,135,833
SHAREHOLDERS' FUNDS 2,733,576 3,135,933
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For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr RODERICK FARNCOMBE SMITH
Director
30/09/2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
FARNCOMBE SMITH 1990 LTD Registered number 2571289 is a limited by shares company incorporated in England & Wales. The Registered Office is PORTERS COTTAGE, ASCOT ROAD, HOLYPORT, MAIDENHEAD, BERKS, SL6 3LD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Plant & Machinery 20%
Motor Vehicles 20%
Fixtures & Fittings 20%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2023: 24)
25 24
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 1,694,445 504,604 40,734 2,239,783
Additions 167,475 79,292 - 246,767
Disposals (42,800 ) (62,595 ) - (105,395 )
As at 31 January 2024 1,819,120 521,301 40,734 2,381,155
...CONTINUED
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Depreciation
As at 1 February 2023 947,184 270,173 32,190 1,249,547
Provided during the period 178,639 62,800 1,709 243,148
Disposals (29,652 ) (54,482 ) - (84,134 )
As at 31 January 2024 1,096,171 278,491 33,899 1,408,561
Net Book Value
As at 31 January 2024 722,949 242,810 6,835 972,594
As at 1 February 2023 747,261 234,431 8,544 990,236
5. Stocks
2024 2023
£ £
Stock 622,857 455,019
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 270,732 15,782
Prepayments and accrued income 48,435 38,437
VAT 34,752 77,530
Director's loan account - 6,323
353,919 138,072
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 234,104 246,986
Bank loans and overdrafts 15,388 -
Corporation tax 1,204 19,885
Other taxes and social security 35,177 30,833
Accruals and deferred income 5,500 5,500
291,373 303,204
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
Page 5
Page 6
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 150,000 100,000
150,000 100,000
11. Ultimate Controlling Party
The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.
Page 6