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REGISTERED NUMBER: 06263341 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Farrar & Co Properties Ltd.

Farrar & Co Properties Ltd. (Registered number: 06263341)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Farrar & Co Properties Ltd.

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr J N Chambers
Mr T J Gilje





SECRETARY: Ms C D Chambers





REGISTERED OFFICE: 152 Fulham Road
London
SW10 9PR





REGISTERED NUMBER: 06263341 (England and Wales)





ACCOUNTANTS: Langricks (Holmfirth) Limited
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Farrar & Co Properties Ltd.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Farrar & Co Properties Ltd. for the year ended 29 February 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Farrar & Co Properties Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Farrar & Co Properties Ltd. and state those matters that we have agreed to state to the Board of Directors of Farrar & Co Properties Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Farrar & Co Properties Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Farrar & Co Properties Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Farrar & Co Properties Ltd.. You consider that Farrar & Co Properties Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Farrar & Co Properties Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Langricks (Holmfirth) Limited
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT


15 November 2024

Farrar & Co Properties Ltd. (Registered number: 06263341)

Statement of Financial Position
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 38,759 59,574
Investments 6 30,413 56,512
69,172 116,086

CURRENT ASSETS
Debtors 7 328,610 313,611
Cash at bank 949,646 1,125,439
1,278,256 1,439,050
CREDITORS
Amounts falling due within one year 8 1,165,876 1,218,933
NET CURRENT ASSETS 112,380 220,117
TOTAL ASSETS LESS CURRENT
LIABILITIES

181,552

336,203

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 181,452 336,103
181,552 336,203

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 directors acknowledge their 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.

Farrar & Co Properties Ltd. (Registered number: 06263341)

Statement of Financial Position - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:




Mr J N Chambers - Director



Mr T J Gilje - Director


Farrar & Co Properties Ltd. (Registered number: 06263341)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Farrar & Co Properties 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 as modified by the revaluation of certain assets.

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 2011, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery etc - 20% on cost and 10% on cost

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.e financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


Farrar & Co Properties Ltd. (Registered number: 06263341)

Notes to the Financial Statements - continued
for the Year Ended 29 February 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 statement of financial position 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 15 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023 166,499
Disposals (166,499 )
At 29 February 2024 -
AMORTISATION
At 1 March 2023 166,499
Eliminated on disposal (166,499 )
At 29 February 2024 -
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

Farrar & Co Properties Ltd. (Registered number: 06263341)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Short Plant and
leasehold machinery Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 336,281 197,482 533,763
DEPRECIATION
At 1 March 2023 301,218 172,971 474,189
Charge for year 13,855 6,960 20,815
At 29 February 2024 315,073 179,931 495,004
NET BOOK VALUE
At 29 February 2024 21,208 17,551 38,759
At 28 February 2023 35,063 24,511 59,574

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 March 2023 56,512
Disposals (37,240 )
Revaluations 11,141
At 29 February 2024 30,413
NET BOOK VALUE
At 29 February 2024 30,413
At 28 February 2023 56,512

During the year fixed asset investments were revalued to market value. The historic cost of these investments is £121,066.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 137,619 141,812
Amounts owed by group undertakings 92,387 80,143
Other debtors 98,604 91,656
328,610 313,611

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 43,531 47,033
Amounts owed to group undertakings 818,740 887,760
Taxation and social security 194,430 224,287
Other creditors 109,175 59,853
1,165,876 1,218,933

Farrar & Co Properties Ltd. (Registered number: 06263341)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29.2.24 28.2.23
£    £   
Within one year 193,624 209,495
Between one and five years 336,625 458,749
In more than five years 566,580 637,780
1,096,829 1,306,024

10. RELATED PARTY DISCLOSURES

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.

11. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors, and there is no individual controlling party.
The company was a wholly owned subsidiary of Farrar & Co Ltd throughout the year.
Following the year end the group was restructured, and Farrar & Co Properties Holdings Ltd became the new parent company.