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REGISTERED NUMBER: 03075558 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024

FOR

FARRELL SOFTWARE ASSOCIATES LIMITED

FARRELL SOFTWARE ASSOCIATES LIMITED (REGISTERED NUMBER: 03075558)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 5th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FARRELL SOFTWARE ASSOCIATES LIMITED

COMPANY INFORMATION
for the Year Ended 5th April 2024







DIRECTORS: S Farrell
Mrs A L Farrell





SECRETARY: Mrs A L Farrell





REGISTERED OFFICE: Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX





REGISTERED NUMBER: 03075558 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

FARRELL SOFTWARE ASSOCIATES LIMITED (REGISTERED NUMBER: 03075558)

BALANCE SHEET
5th April 2024

5/4/24 5/4/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,797 2,653

CURRENT ASSETS
Debtors 5 13,809 26,578
Cash at bank 60,634 32,939
74,443 59,517
CREDITORS
Amounts falling due within one year 6 43,862 45,542
NET CURRENT ASSETS 30,581 13,975
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,378

16,628

PROVISIONS FOR LIABILITIES 7 1,103 610
NET ASSETS 34,275 16,018

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 34,175 15,918
SHAREHOLDERS' FUNDS 34,275 16,018

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 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.

FARRELL SOFTWARE ASSOCIATES LIMITED (REGISTERED NUMBER: 03075558)

BALANCE SHEET - continued
5th April 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 31st December 2024 and were signed on its behalf by:





S Farrell - Director


FARRELL SOFTWARE ASSOCIATES LIMITED (REGISTERED NUMBER: 03075558)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 5th April 2024

1. STATUTORY INFORMATION

Farrell Software Associates 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.

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.
Fixtures, fittings & equipment - 25% on reducing balance

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 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 3 (2023 - 3 ) .

FARRELL SOFTWARE ASSOCIATES LIMITED (REGISTERED NUMBER: 03075558)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 5th April 2024

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipment
£   
COST
At 6th April 2023 6,549
Additions 2,970
At 5th April 2024 9,519
DEPRECIATION
At 6th April 2023 3,896
Charge for year 826
At 5th April 2024 4,722
NET BOOK VALUE
At 5th April 2024 4,797
At 5th April 2023 2,653

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5/4/24 5/4/23
£    £   
Trade debtors 13,809 26,303
Other debtors - 275
13,809 26,578

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5/4/24 5/4/23
£    £   
Tax 23,960 20,359
Social security and other taxes 7,656 -
Directors' current accounts 10,596 23,583
Accrued expenses 1,650 1,600
43,862 45,542

7. PROVISIONS FOR LIABILITIES
5/4/24 5/4/23
£    £   
Deferred tax 1,103 610

FARRELL SOFTWARE ASSOCIATES LIMITED (REGISTERED NUMBER: 03075558)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 5th April 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 6th April 2023 610
Accelerated capital allowances 493
Balance at 5th April 2024 1,103

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 5/4/24 5/4/23
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

Mr S Farrell and Mrs A L Farrell together own 100% of the company's issued share capital.