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Registration number: 08379432

Farmyard Stories Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2025

 

Farmyard Stories Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Farmyard Stories Ltd

Company Information

Director

Mrs A A Thovsen

Registered office

21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

Accountants

Rotherham Taylor Limited 21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

Farmyard Stories Ltd

(Registration number: 08379432)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Current assets

 

Debtors

5

451

2,662

Cash at bank and in hand

 

-

254

 

451

2,916

Creditors: Amounts falling due within one year

6

(138,188)

(138,797)

Net liabilities

 

(137,737)

(135,881)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(137,738)

(135,882)

Shareholders' deficit

 

(137,737)

(135,881)

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 March 2025
 

.........................................
Mrs A A Thovsen
Director

   
     
 

Farmyard Stories Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

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

The address of its registered office is:
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

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.

Going concern

The directors consider that the company will be able to settle its liabilities as and when they fall due for the foreseeable future. This assessment has been made taking into account a period of at least 12 months from the approval and signing of these financial statements.
The directors do not commit to expenditure unless and until they are satisfied that sufficient funding is in place for the company to meet the related obligation. Accordingly, the financial statements have been prepared on a going concern basis and do not include any adjustments that would result if the company was unable to continue as a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

 

Farmyard Stories Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

tangible assets are stated in the statement of financial position 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:

Asset class

Depreciation method and rate

Office equipment

33% straight line

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.

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.

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.

 

Farmyard Stories Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Farmyard Stories Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 February 2024

7,800

7,800

At 31 January 2025

7,800

7,800

Depreciation

At 1 February 2024

7,800

7,800

At 31 January 2025

7,800

7,800

Carrying amount

At 31 January 2025

-

-

5

Debtors

Current

2025
£

2024
£

Trade debtors

-

2,488

Other debtors

451

174

 

451

2,662

A deferred tax asset has not been recognised due to the uncertainty of the timing of future profits. Had such an asset been recognised the value would have been £20,198 at the year end.

 

Farmyard Stories Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Director's loan account

7

5,104

5,104

Trade creditors

 

-

834

Accruals and deferred income

 

1,113

4,831

Other creditors

 

131,971

128,028

 

138,188

138,797

7

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Director's loan account

5,104

5,104

The director's loan account is non-interest bearing and has no formal repayment terms.