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REGISTERED NUMBER: 00693816 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Farmer Giles Limited

Farmer Giles Limited (Registered number: 00693816)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Farmer Giles Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mrs J M Giles
J E Giles





SECRETARY: Mrs J M Giles





REGISTERED OFFICE: County Gate
County Way
Trowbridge
Wiltshire
BA14 7FJ





REGISTERED NUMBER: 00693816 (England and Wales)

Farmer Giles Limited (Registered number: 00693816)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,524,718 4,525,494

CURRENT ASSETS
Debtors 5 4,992 24,098
Cash at bank 2,001,272 1,885,663
2,006,264 1,909,761
CREDITORS
Amounts falling due within one year 6 303,433 346,070
NET CURRENT ASSETS 1,702,831 1,563,691
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,227,549

6,089,185

PROVISIONS FOR LIABILITIES 396,183 396,183
NET ASSETS 5,831,366 5,693,002

CAPITAL AND RESERVES
Called up share capital 12,120 12,120
Other reserves 3,281,851 3,281,851
Retained earnings 2,537,395 2,399,031
SHAREHOLDERS' FUNDS 5,831,366 5,693,002

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





Mrs J M Giles - Director


Farmer Giles Limited (Registered number: 00693816)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Farmer Giles 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 15% on reducing balance

Freehold properties comprise assets held as investment properties. Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised in the profit and loss account.

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.

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.

Revenue recognition
Property rental income and ancillary costs, such as insurance and service charges invoiced to tenants, are accounted for under "Other Operating Income", based on the invoiced value of such charges for the year. Revenue is recognised in accordance with the terms of the tenancy agreements. Amounts invoiced in advance are carried forward as deferred income at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Farmer Giles Limited (Registered number: 00693816)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 June 2023 4,520,000 56,287 22,200 48,404 4,646,891
Additions - 354 - - 354
At 31 May 2024 4,520,000 56,641 22,200 48,404 4,647,245
DEPRECIATION
At 1 June 2023 - 54,108 22,200 45,089 121,397
Charge for year - 633 - 497 1,130
At 31 May 2024 - 54,741 22,200 45,586 122,527
NET BOOK VALUE
At 31 May 2024 4,520,000 1,900 - 2,818 4,524,718
At 31 May 2023 4,520,000 2,179 - 3,315 4,525,494

Cost or valuation at 31 May 2024 is represented by:

Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2005 2,271,038 - - 715 2,271,753
Valuation in 2012 232,150 - - - 232,150
Valuation in 2018 1,138,800 - - - 1,138,800
Cost 878,012 56,641 22,200 47,689 1,004,542
4,520,000 56,641 22,200 48,404 4,647,245

If freehold investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 878,012 878,012

Freehold investment properties were valued on an open market basis on 15 June 2018 by Carter Jonas .

The directors are of the opinion that the valuation of freehold investment properties carried out at 15 June 2018 remains valid as at the date of approval of these financial statements and that no change in value needs to be recognised.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 64 510
Prepayments and accrued income 4,928 23,588
4,992 24,098

Farmer Giles Limited (Registered number: 00693816)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,713 20,507
Taxation 63,030 56,637
Social security and other taxes 15,808 21,911
Other creditors 92,990 82,962
Directors' current accounts 58,765 110,797
Accruals and deferred income 69,127 53,256
303,433 346,070

7. RELATED PARTY DISCLOSURES

Creditors: Amounts falling due within one year include an unsecured loan of £58,765 (2023: £110,796), due to JM Giles. The director has the right to receive interest at 2% above base rate on this loan. No interest has been charged on the loans during the year, (2023: £nil).