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Registration number: 00054862

George Farmiloe & Sons Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

George Farmiloe & Sons Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

George Farmiloe & Sons Limited

Company Information

Directors

TLC Farmiloe

RAM Farmiloe

M Heining

Registered office

12A Fleet Business Park
Fleet
Hants
GU52 8BF

Accountants

CRK Accounting Limited
12a Fleet Business Park
Sandy Lane
Church Crookham
Fleet
Hampshire
GU52 8BF

 

George Farmiloe & Sons Limited

(Registration number: 00054862)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

438

584

Other financial assets

5

26,968,645

24,753,552

 

26,969,083

24,754,136

Current assets

 

Debtors

6

27,864

205,937

Cash at bank and in hand

 

218,002

244,916

 

245,866

450,853

Creditors: Amounts falling due within one year

7

(697,966)

(525,654)

Net current liabilities

 

(452,100)

(74,801)

Total assets less current liabilities

 

26,516,983

24,679,335

Creditors: Amounts falling due after more than one year

7

(165,600)

(165,600)

Provisions for liabilities

(83)

(148)

Net assets

 

26,351,300

24,513,587

Capital and reserves

 

Called up share capital

8

23,125

23,125

Capital redemption reserve

48,313

48,313

Retained earnings

26,279,862

24,442,149

Shareholders' funds

 

26,351,300

24,513,587

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 September 2024 and signed on its behalf by:
 

 

George Farmiloe & Sons Limited

(Registration number: 00054862)
Balance Sheet as at 31 March 2024

.........................................
TLC Farmiloe
Director

 

George Farmiloe & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
12A Fleet Business Park
Fleet
Hants
GU52 8BF
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

George Farmiloe & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

George Farmiloe & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

2,463

2,463

At 31 March 2024

2,463

2,463

Depreciation

At 1 April 2023

1,879

1,879

Charge for the year

146

146

At 31 March 2024

2,025

2,025

Carrying amount

At 31 March 2024

438

438

At 31 March 2023

584

584

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

24,753,552

24,753,552

Revaluations

2,215,093

2,215,093

At 31 March 2024

26,968,645

26,968,645

Impairment

Carrying amount

At 31 March 2024

26,968,645

26,968,645

6

Debtors

Current

2024
£

2023
£

Other debtors

27,864

205,937

 

27,864

205,937

 

George Farmiloe & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

51,000

-

Trade creditors

 

11,150

1,870

Accruals and deferred income

 

4,250

3,750

Other creditors

 

631,566

520,034

 

697,966

525,654

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

165,600

165,600

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

23,125

23,125

23,125

23,125

Preference of £1 each

165,600

165,600

165,600

165,600

 

188,725

188,725

188,725

188,725

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

51,000

-