Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29falsetrue1false2023-03-011the exploitation of the literary works of Dr Graham Paul FarmelotrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11847869 2023-03-01 2024-02-29 11847869 2022-03-01 2023-02-28 11847869 2024-02-29 11847869 2023-02-28 11847869 c:Director1 2023-03-01 2024-02-29 11847869 d:OfficeEquipment 2023-03-01 2024-02-29 11847869 d:OfficeEquipment 2024-02-29 11847869 d:OfficeEquipment 2023-02-28 11847869 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 11847869 d:CurrentFinancialInstruments 2024-02-29 11847869 d:CurrentFinancialInstruments 2023-02-28 11847869 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 11847869 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11847869 d:ShareCapital 2024-02-29 11847869 d:ShareCapital 2023-02-28 11847869 d:RetainedEarningsAccumulatedLosses 2024-02-29 11847869 d:RetainedEarningsAccumulatedLosses 2023-02-28 11847869 c:OrdinaryShareClass1 2023-03-01 2024-02-29 11847869 c:OrdinaryShareClass1 2024-02-29 11847869 c:FRS102 2023-03-01 2024-02-29 11847869 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11847869 c:FullAccounts 2023-03-01 2024-02-29 11847869 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11847869 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11847869














GRAHAM FARMELO LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

 
GRAHAM FARMELO LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1
Notes to the Financial Statements
 
 
2 - 5


 
GRAHAM FARMELO LIMITED
REGISTERED NUMBER:11847869

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,533
5,371

Current assets
  

Debtors: amounts falling due within one year
 5 
815
5,541

Cash at bank and in hand
  
9,204
13,695

  
10,019
19,236

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(53,956)
(26,791)

Net current liabilities
  
 
 
(43,937)
 
 
(7,555)

  

Net liabilities
  
(42,404)
(2,184)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(42,504)
(2,284)

  
(42,404)
(2,184)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 October 2024.


Dr G P Farmelo
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
GRAHAM FARMELO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The Company's legal form is that of a private limited liability company registered in England & Wales. The Company's registered office is at 2nd Floor Connaught House, 1-3 Mount Street (entrance via Davies Street), London, United Kingdom, W1K 3NB.
The principal activity of the Company is that of the exploitation of the literary works of Dr G P Farmelo.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

As at 29 February 2024, the Company had accumulated losses of £42,504 (2023 - £2,284). The director has prepared projected cashflow forecasts for the period ending 12 months from the date of his approval of these financial statements and based on these and the continued support of the Company's principal supporter, the director considers it appropriate to prepare the financial
statements on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 2

 
GRAHAM FARMELO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Revenue

Turnover comprises revenue recognised by the Company in respect of the sale of rights, royalties receivable and services supplied during the year, exclusive of Value Added Tax.
Advances which are non-recoupable are accounted for on a receipts basis.

Royalties are accounted for in the period in which they fall due.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
GRAHAM FARMELO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.8

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

The director was the only employee of the Company during the current and preceding period.








4.


Tangible fixed assets







Computer & office equipment

£



Cost 


At 1 March 2023
18,629



At 29 February 2024

18,629



Depreciation


At 1 March 2023
13,258


Charge for the year on owned assets
3,838



At 29 February 2024

17,096



Net book value



At 29 February 2024
1,533



At 28 February 2023
5,371

Page 4

 
GRAHAM FARMELO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

2024
2023
£
£


Other debtors
11
317

Prepayments and accrued income
804
5,224

815
5,541



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
485
7

Other creditors
49,597
23,948

Accruals and deferred income
3,874
2,836

53,956
26,791



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100


 
Page 5