Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-04-01falsethe provision of consultancy services22truetrue 06939446 2023-04-01 2024-03-31 06939446 2022-04-01 2023-03-31 06939446 2024-03-31 06939446 2023-03-31 06939446 2022-04-01 06939446 c:Director1 2023-04-01 2024-03-31 06939446 d:MotorVehicles 2023-04-01 2024-03-31 06939446 d:MotorVehicles 2024-03-31 06939446 d:MotorVehicles 2023-03-31 06939446 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06939446 d:FurnitureFittings 2023-04-01 2024-03-31 06939446 d:FurnitureFittings 2024-03-31 06939446 d:FurnitureFittings 2023-03-31 06939446 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06939446 d:OfficeEquipment 2023-04-01 2024-03-31 06939446 d:OfficeEquipment 2024-03-31 06939446 d:OfficeEquipment 2023-03-31 06939446 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06939446 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06939446 d:CurrentFinancialInstruments 2024-03-31 06939446 d:CurrentFinancialInstruments 2023-03-31 06939446 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06939446 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06939446 d:ShareCapital 2024-03-31 06939446 d:ShareCapital 2023-03-31 06939446 d:RetainedEarningsAccumulatedLosses 2024-03-31 06939446 d:RetainedEarningsAccumulatedLosses 2023-03-31 06939446 c:OrdinaryShareClass1 2023-04-01 2024-03-31 06939446 c:OrdinaryShareClass1 2024-03-31 06939446 c:FRS102 2023-04-01 2024-03-31 06939446 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06939446 c:FullAccounts 2023-04-01 2024-03-31 06939446 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06939446 6 2023-04-01 2024-03-31 06939446 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 06939446 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 06939446 d:RetirementBenefitObligationsDeferredTax 2024-03-31 06939446 d:RetirementBenefitObligationsDeferredTax 2023-03-31 06939446 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 06939446














JOHN FARRELL & ASSOCIATES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 MARCH 2024

 
JOHN FARRELL & ASSOCIATES LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1
Notes to the Financial Statements
 
 
2 - 6


 
JOHN FARRELL & ASSOCIATES LIMITED
REGISTERED NUMBER:06939446

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
72,930
86,526

Current assets
  

Debtors: amounts falling due within one year
 5 
9,187
304,761

Current asset investments
 6 
2,025,856
1,340,150

Cash at bank and in hand
  
1,239,973
961,209

  
3,275,016
2,606,120

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(367,152)
(110,814)

Net current assets
  
 
 
2,907,864
 
 
2,495,306

Total assets less current liabilities
  
2,980,794
2,581,832

Provisions for liabilities
  

Deferred tax
 8 
(13,424)
(2,002)

Net assets
  
2,967,370
2,579,830


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
2,967,369
2,579,829

  
2,967,370
2,579,830


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 13 November 2024.

J F P Farrell
Director

Page 1

 
JOHN FARRELL & ASSOCIATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company's legal form is that of a private company, limited by shares, registered in England & Wales. The Company's principal place of business is at 5 Pembroke Gardens, London, W8 6HS and its registered office is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.  
The principal activity of the Company continued to be the provision of consultancy services.

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

Revenue

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax. 
Turnover is recognised in the period in which the service is provided. 

 
2.3

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:

Motor vehicles
-
20%
Straight line
Fixtures and fittings
-
25%
Straight line
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 2

 
JOHN FARRELL & ASSOCIATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Valuation of investments

Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in  the Statement of Comprehensive Income.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

Debtors

Short term debtors are measured at the transaction price. 

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

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.

Page 3

 
JOHN FARRELL & ASSOCIATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
JOHN FARRELL & ASSOCIATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost 


At 1 April 2023
83,531
301
5,738
89,570


Additions
-
2,257
2,583
4,840



At 31 March 2024

83,531
2,558
8,321
94,410



Depreciation


At 1 April 2023
-
107
2,937
3,044


Charge for the year on owned assets
16,706
275
1,455
18,436



At 31 March 2024

16,706
382
4,392
21,480



Net book value



At 31 March 2024
66,825
2,176
3,929
72,930



At 31 March 2023
83,531
194
2,801
86,526


5.


Debtors

2024
2023
£
£


Trade debtors
5,000
10,000

Other debtors
-
275,575

Prepayments and accrued income
4,187
19,186

9,187
304,761



6.


Current asset investments

2024
2023
£
£

Listed investments
1,824,449
1,138,743

Unlisted investments
201,407
201,407

2,025,856
1,340,150


Page 5

 
JOHN FARRELL & ASSOCIATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
937
2,540

Taxation and social security
129,670
58,657

Other creditors
195,545
2,253

Accruals and deferred income
41,000
47,364

367,152
110,814



8.


Deferred taxation




2024
2023


£

£






At beginning of year
2,002
44,206


Released to profit or loss
11,422
(42,204)



At end of year
13,424
2,002

The provision for deferred taxation is made up as follows:

2024
2023
£
£


(Decelerated)/accelerated capital allowances
(877)
2,002

Fair value adjustments
14,301
-

13,424
2,002


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 Ordinary share of £1.00
1
1



10.


Related party transactions

The Company has given a guarantee, secured on the balances on the bank accounts with the investment manager, on behalf of the director's personal investments with the same investment manager. 

 
Page 6