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REGISTERED NUMBER: 08705672 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

FARLOWS INTERNATIONAL LIMITED

FARLOWS INTERNATIONAL LIMITED (REGISTERED NUMBER: 08705672)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FARLOWS INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: S P G Hughes
R Philpott





REGISTERED OFFICE: 9 Pall Mall
London
SW1Y 5NP





REGISTERED NUMBER: 08705672 (England and Wales)





AUDITORS: Cox Costello & Horne
Chartered Accountants and Statutory Auditors
Batchworth Lock House
99 Church Street, Rickmansworth
WD3 1JJ

FARLOWS INTERNATIONAL LIMITED (REGISTERED NUMBER: 08705672)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 4,122 -
Investments 5 4,042,903 4,042,903
4,047,025 4,042,903

CURRENT ASSETS
Debtors 6 1,988,428 2,087,146
Cash in hand 281,876 163,573
2,270,304 2,250,719
NET CURRENT ASSETS 2,270,304 2,250,719
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,317,329

6,293,622

CAPITAL AND RESERVES
Called up share capital 6,678,590 6,678,590
Retained earnings (361,261 ) (384,968 )
SHAREHOLDERS' FUNDS 6,317,329 6,293,622

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 21 October 2024 and were signed on its behalf by:





S P G Hughes - Director


FARLOWS INTERNATIONAL LIMITED (REGISTERED NUMBER: 08705672)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Farlows International 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.

Going concern
The financial statements are drawn up on the going concern basis which assumes Farlows International Limited will continue in operational existence for the foreseeable future. The Board of Directors have given due consideration to the working capital and cash flow requirements of Farlows International Limited. The Board of Directors consider Farlows International Limited's current and forecast cash resources to be sufficient to cover the working capital requirements of the company and its subsidiaries for at least 12 months from the date of signing the financial statements. The directors have been given reassurances of ongoing support from the shareholders of the parent company.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 - 33% on cost

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

Investment in a subsidiary company is held at cost less accumulated impairment losses.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


FARLOWS INTERNATIONAL LIMITED (REGISTERED NUMBER: 08705672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
Additions 4,946
At 31 January 2024 4,946
DEPRECIATION
Charge for year 824
At 31 January 2024 824
NET BOOK VALUE
At 31 January 2024 4,122

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 February 2023
and 31 January 2024 4,042,903
NET BOOK VALUE
At 31 January 2024 4,042,903
At 31 January 2023 4,042,903

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Farlows Group Limited
Registered office: 9 Pall Mall, London, SW1Y 5NP
Nature of business: Intermediary holding company
%
Class of shares: holding
Ordinary 100.00
31.1.24 31.1.23
£ £
Aggregate capital and reserves 4,042,153 3,379,362

FARLOWS INTERNATIONAL LIMITED (REGISTERED NUMBER: 08705672)

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


6. DEBTORS
31.1.24 31.1.23
£ £
Amounts falling due within one year:
Amount owed by group undertaking 1,428,408 1,428,408
Other debtors - 17,916
1,428,408 1,446,324

Amounts falling due after more than one year:
Amounts owed by group undertakings 560,020 640,822

Aggregate amounts 1,988,428 2,087,146

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Michael F Cox FCA (Senior Statutory Auditor)
for and on behalf of Cox Costello & Horne

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S P G Hughes who owns 95% shareholdings of the company.