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REGISTERED NUMBER: 04662427 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 30 June 2024

for

Farley Fencing Limited

Farley Fencing Limited (Registered number: 04662427)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Farley Fencing Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: M K Farley





SECRETARY: Mrs A Farley





REGISTERED OFFICE: Chiddingly Road
Horam
East Sussex
TN21 0JJ





REGISTERED NUMBER: 04662427 (England and Wales)





ACCOUNTANTS: G. A. Hicks - Accountant
14 Meadow Way
Heathfield
East Sussex
TN21 8AL

Farley Fencing Limited (Registered number: 04662427)

Report of the Director
for the Year Ended 30 June 2024

The director presents his report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the supply and installation of fencing.

DIRECTOR
M K Farley held office during the whole of the period from 1 July 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M K Farley - Director


4 November 2024

Farley Fencing Limited (Registered number: 04662427)

Income Statement
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 777,435 716,235

Cost of sales 544,359 545,123
GROSS PROFIT 233,076 171,112

Administrative expenses 170,149 127,105
OPERATING PROFIT 4 62,927 44,007

Interest receivable and similar
income

-

15
62,927 44,022

Interest payable and similar
expenses

11,687

29,730
PROFIT BEFORE TAXATION 51,240 14,292

Tax on profit 10,551 5,257
PROFIT FOR THE FINANCIAL YEAR 40,689 9,035

Farley Fencing Limited (Registered number: 04662427)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 66,671 75,248
Investments 6 6,500 8,000
73,171 83,248

CURRENT ASSETS
Stocks 750 750
Debtors 7 149,770 109,714
Cash at bank 956 2,817
151,476 113,281
CREDITORS
Amounts falling due within one year 8 172,040 134,780
NET CURRENT LIABILITIES (20,564 ) (21,499 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

52,607

61,749

CREDITORS
Amounts falling due after more than
one year

9

(72,818

)

(102,713

)

PROVISIONS FOR LIABILITIES (7,977 ) (9,421 )
NET LIABILITIES (28,188 ) (50,385 )

Farley Fencing Limited (Registered number: 04662427)

Balance Sheet - continued
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (28,288 ) (50,485 )
(28,188 ) (50,385 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 4 November 2024 and were signed by:





M K Farley - Director


Farley Fencing Limited (Registered number: 04662427)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Farley Fencing 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

Farley Fencing Limited (Registered number: 04662427)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

30.6.24 30.6.23
£    £   
Depreciation - owned assets 10,794 12,678

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 July 2023 59,523 78,186 61,800 199,509
Additions - 2,217 - 2,217
At 30 June 2024 59,523 80,403 61,800 201,726
DEPRECIATION
At 1 July 2023 24,311 60,440 39,510 124,261
Charge for year 2,381 2,841 5,572 10,794
At 30 June 2024 26,692 63,281 45,082 135,055
NET BOOK VALUE
At 30 June 2024 32,831 17,122 16,718 66,671
At 30 June 2023 35,212 17,746 22,290 75,248

6. FIXED ASSET INVESTMENTS
Other
loans
£   
At 1 July 2023 8,000
Repayment in year (1,500 )
At 30 June 2024 6,500

Farley Fencing Limited (Registered number: 04662427)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 116,223 97,442
Other debtors 33,547 12,272
149,770 109,714

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 42,299 28,359
Trade creditors 73,470 60,365
Taxation and social security 17,710 11,725
Other creditors 38,561 34,331
172,040 134,780

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.24 30.6.23
£    £   
Other creditors 72,818 102,713

10. ULTIMATE CONTROLLING PARTY

The controlling party is M K Farley.