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Registered number: 07796119
Farefence NW Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Newton and Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07796119
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1 1
Tangible Assets 5 16,995 10,113
16,996 10,114
CURRENT ASSETS
Stocks 6 295 1,795
Debtors 7 115,152 132,349
Cash at bank and in hand 176,512 84,010
291,959 218,154
Creditors: Amounts Falling Due Within One Year 8 (110,613 ) (107,699 )
NET CURRENT ASSETS (LIABILITIES) 181,346 110,455
TOTAL ASSETS LESS CURRENT LIABILITIES 198,342 120,569
Creditors: Amounts Falling Due After More Than One Year 9 (19,167 ) (29,167 )
NET ASSETS 179,175 91,402
CAPITAL AND RESERVES
Called up share capital 11 100 1
Profit and Loss Account 179,075 91,401
SHAREHOLDERS' FUNDS 179,175 91,402
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jeffrey Broomfield
Director
14/02/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Farefence NW Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07796119 . The registered office is 13 Tilley Road, Crowther Industrial Estate, Washington, Tyne and Wear, NE38 0AE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Fixtures & Fittings
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 1
As at 30 June 2024 1
Net Book Value
As at 30 June 2024 1
As at 1 July 2023 1
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 July 2023 792 62,945 8,271 72,008
Additions - 15,000 - 15,000
Disposals - (27,295 ) - (27,295 )
As at 30 June 2024 792 50,650 8,271 59,713
Depreciation
As at 1 July 2023 792 53,992 7,111 61,895
Provided during the period - 5,337 174 5,511
Disposals - (24,688 ) - (24,688 )
As at 30 June 2024 792 34,641 7,285 42,718
...CONTINUED
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Net Book Value
As at 30 June 2024 - 16,009 986 16,995
As at 1 July 2023 - 8,953 1,160 10,113
6. Stocks
2024 2023
£ £
Finished goods 295 1,795
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 106,221 117,045
VAT 8,915 15,304
Director's loan account 16 -
115,152 132,349
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 66,330 86,928
Bank loans and overdrafts 10,000 10,000
Corporation tax 28,549 3,142
PAYE & Social Security (Current liabilities - creditors < 1 year) 3,431 3,739
Other creditors (1,471 ) -
Pension Control Account (Current liabilities - creditors < 1 year) 504 732
Accruals and deferred income 3,270 3,150
Director's loan account - 8
110,613 107,699
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 19,167 29,167
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 1
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12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Jeffrey Broomfield (8 ) 124 (100 ) - 16
The above loan is unsecured, interest free and repayable on demand.
13. Related Party Transactions
The company is under the control of Mr J A Broomfield.
This company has traded with Farefence NW Ltd throughout the period. This period includes cost of sales totalling £23,935.17 from Willowcrete Manufacturing Company Ltd to Farefence NW Ltd for services rendered. As at 30th June 2023 £11,250.00 was outstanding and due for payment from this total. This period also includes sales of £360.00 from Farefence NW Ltd to Willowcrete Manufacturing Company Ltd.
Willowcrete Manufacturing Company Ltd has loaned £2,750.00 from Farefence NW Ltd in the period, which remains outstanding as at 30th June 2024. 
Mr J A Broomfield is a director and shareholder of Farefence NW Ltd.
Mr J A Broomfield is a director and shareholder of Willowcrete Manufacturing Company Ltd.
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