IRIS Accounts Production v24.3.0.553 08790064 director 1.12.22 30.11.23 30.11.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh087900642022-11-30087900642023-11-30087900642022-12-012023-11-30087900642021-11-30087900642021-12-012022-11-30087900642022-11-3008790064ns15:EnglandWales2022-12-012023-11-3008790064ns14:PoundSterling2022-12-012023-11-3008790064ns10:Director12022-12-012023-11-3008790064ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3008790064ns10:SmallEntities2022-12-012023-11-3008790064ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3008790064ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3008790064ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3008790064ns10:FullAccounts2022-12-012023-11-300879006412022-12-012023-11-3008790064ns10:RegisteredOffice2022-12-012023-11-3008790064ns5:CurrentFinancialInstruments2023-11-3008790064ns5:CurrentFinancialInstruments2022-11-3008790064ns5:Non-currentFinancialInstruments2023-11-3008790064ns5:Non-currentFinancialInstruments2022-11-3008790064ns5:ShareCapital2023-11-3008790064ns5:ShareCapital2022-11-3008790064ns5:RetainedEarningsAccumulatedLosses2023-11-3008790064ns5:RetainedEarningsAccumulatedLosses2022-11-3008790064ns5:NetGoodwill2022-12-012023-11-3008790064ns5:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3008790064ns5:LeaseholdImprovements2022-12-012023-11-3008790064ns5:PlantMachinery2022-12-012023-11-3008790064ns5:ComputerEquipment2022-12-012023-11-3008790064ns5:NetGoodwill2022-11-3008790064ns5:NetGoodwill2023-11-3008790064ns5:NetGoodwill2022-11-3008790064ns5:LeaseholdImprovements2022-11-3008790064ns5:PlantMachinery2022-11-3008790064ns5:ComputerEquipment2022-11-3008790064ns5:LeaseholdImprovements2023-11-3008790064ns5:PlantMachinery2023-11-3008790064ns5:ComputerEquipment2023-11-3008790064ns5:LeaseholdImprovements2022-11-3008790064ns5:PlantMachinery2022-11-3008790064ns5:ComputerEquipment2022-11-3008790064ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-3008790064ns5:WithinOneYearns5:CurrentFinancialInstruments2022-11-3008790064ns5:RetainedEarningsAccumulatedLosses2022-11-3008790064ns5:RetainedEarningsAccumulatedLosses2022-12-012023-11-30
REGISTERED NUMBER: 08790064 (England and Wales)














Financial Statements for the Year Ended 30 November 2023

for

Farrell & Co Accountants Limited

Farrell & Co Accountants Limited (Registered number: 08790064)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Farrell & Co Accountants Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: A Baccus FCA





REGISTERED OFFICE: 1C Amberside
Wood Lane
Paradise Industrial Estate
Hemel Hempstead
Hertfordshire
HP2 4TP





REGISTERED NUMBER: 08790064 (England and Wales)





ACCOUNTANTS: Farrell & Co
1C Amberside
Wood Lane
Hemel Hempstead
Hertfordshire
HP2 4TP

Farrell & Co Accountants Limited (Registered number: 08790064)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 27,115 16,958
27,115 16,958

CURRENT ASSETS
Debtors 6 353,392 305,717
Cash at bank 239,070 266,239
592,462 571,956
CREDITORS
Amounts falling due within one year 7 145,506 101,408
NET CURRENT ASSETS 446,956 470,548
TOTAL ASSETS LESS CURRENT
LIABILITIES

474,071

487,506

CREDITORS
Amounts falling due after more than one year 8 (141,624 ) (142,829 )

PROVISIONS FOR LIABILITIES (5,152 ) (3,222 )
NET ASSETS 327,295 341,455

CAPITAL AND RESERVES
Called up share capital 203 203
Retained earnings 9 327,092 341,252
SHAREHOLDERS' FUNDS 327,295 341,455

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Farrell & Co Accountants Limited (Registered number: 08790064)

Balance Sheet - continued
30 November 2023


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 17 November 2024 and were signed by:





A Baccus FCA - Director


Farrell & Co Accountants Limited (Registered number: 08790064)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Farrell & Co Accountants 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.

Changes in accounting policies
The goodwill acquired has not diminished in value over the last three years of trading, in fact there has been
a growth in trade specifically due to the strong goodwill retained by the business through its reputation locally but also the name and brand of the business. Consequently the Director of the Company deems it appropriate to extend the period of life of the acquired goodwill to be written off over 8 years. The new change in policy was implemented in 2017.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of eight years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

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.


Farrell & Co Accountants Limited (Registered number: 08790064)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 394,450
AMORTISATION
At 1 December 2022
and 30 November 2023 394,450
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

Farrell & Co Accountants Limited (Registered number: 08790064)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 December 2022 740 55,004 - 55,744
Additions - 14,262 5,522 19,784
At 30 November 2023 740 69,266 5,522 75,528
DEPRECIATION
At 1 December 2022 740 38,046 - 38,786
Charge for year - 7,805 1,822 9,627
At 30 November 2023 740 45,851 1,822 48,413
NET BOOK VALUE
At 30 November 2023 - 23,415 3,700 27,115
At 30 November 2022 - 16,958 - 16,958

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 123,480 199,032
Amounts owed by associates 226,685 106,685
Other debtors 3,227 -
353,392 305,717

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 48,205 48,205
Payments on account 10,516 1,301
Trade creditors 2 1
Taxation and social security 57,776 50,958
Other creditors 29,007 943
145,506 101,408

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 141,624 142,829

Farrell & Co Accountants Limited (Registered number: 08790064)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. RESERVES
Retained
earnings
£   

At 1 December 2022 341,252
Profit for the year 45,840
Dividends (60,000 )
At 30 November 2023 327,092