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REGISTERED NUMBER: 03917198 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

FARNHAM'S LTD

FARNHAM'S LTD (REGISTERED NUMBER: 03917198)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FARNHAM'S LTD

COMPANY INFORMATION
for the year ended 29 February 2024







DIRECTOR: D P Farnham





SECRETARY: K Farnham





REGISTERED OFFICE: 18 Hawthorn Close
Takeley
Bishops Stortford
Essex
CM22 6SD





REGISTERED NUMBER: 03917198 (England and Wales)





ACCOUNTANTS: Northfield Management Services Limited
Cart Lodge
Harps Farm
Bedlars Green
Great Hallingbury
Hertfordshire
CM22 7TL

FARNHAM'S LTD (REGISTERED NUMBER: 03917198)

BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,173 6,805

CURRENT ASSETS
Debtors 5 1,309 816
Cash at bank 15,898 51,615
17,207 52,431
CREDITORS
Amounts falling due within one year 6 21,449 28,030
NET CURRENT (LIABILITIES)/ASSETS (4,242 ) 24,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

931

31,206

CREDITORS
Amounts falling due after more than one
year

7

(8,643

)

(14,252

)

PROVISIONS FOR LIABILITIES (1,293 ) (2,239 )
NET (LIABILITIES)/ASSETS (9,005 ) 14,715

CAPITAL AND RESERVES
Called up share capital 8 285 285
Retained earnings (9,290 ) 14,430
SHAREHOLDERS' FUNDS (9,005 ) 14,715

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 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.

FARNHAM'S LTD (REGISTERED NUMBER: 03917198)

BALANCE SHEET - continued
29 February 2024


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 director and authorised for issue on 31 October 2024 and were signed by:





D P Farnham - Director


FARNHAM'S LTD (REGISTERED NUMBER: 03917198)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Farnham's Ltd 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the accounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of the estimation means that that the actual outcomes could differ from those estimates.

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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 20% on reducing balance

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-portable 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 and 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 recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic short-term financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

FARNHAM'S LTD (REGISTERED NUMBER: 03917198)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023
and 29 February 2024 12,334 38,411 4,252 54,997
DEPRECIATION
At 1 March 2023 11,260 33,002 3,930 48,192
Charge for year 216 1,353 63 1,632
At 29 February 2024 11,476 34,355 3,993 49,824
NET BOOK VALUE
At 29 February 2024 858 4,056 259 5,173
At 28 February 2023 1,074 5,409 322 6,805

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 575 -
Prepayments 734 816
1,309 816

FARNHAM'S LTD (REGISTERED NUMBER: 03917198)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 5,609 5,182
Trade creditors - 40
Social security and other taxes (1,396 ) 148
VAT - 178
Directors' current accounts 15,736 20,982
Accrued expenses 1,500 1,500
21,449 28,030

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans - 2-5 years 8,643 14,252

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
285 Ordinary £1 285 285