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Registration number: 09868606

Ferguson West Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Ferguson West Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Ferguson West Limited

Company Information

Directors

Mr PR West

Mrs PJ West

Registered office

6 Harvest Way
Hawkinge
Folkestone
Kent
CT18 7PE

 

Ferguson West Limited

(Registration number: 09868606)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,658

2,841

Current assets

 

Debtors

5

674

2,723

Cash at bank and in hand

 

21,175

13,307

 

21,849

16,030

Creditors: Amounts falling due within one year

6

(5,889)

(8,324)

Net current assets

 

15,960

7,706

Total assets less current liabilities

 

18,618

10,547

Provisions for liabilities

(505)

(540)

Net assets

 

18,113

10,007

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

17,113

9,007

Shareholders' funds

 

18,113

10,007

For the financial year ending 30 November 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 3 April 2025 and signed on its behalf by:
 

.........................................
Mr PR West
Director

   
     
 

Ferguson West Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

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

The address of its registered office is:
6 Harvest Way
Hawkinge
Folkestone
Kent
CT18 7PE
United Kingdom

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 financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ferguson West Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

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:

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.

 

Ferguson West Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

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 2 (2023 - 2).

 

Ferguson West Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 December 2023

99

16,940

17,039

Additions

-

2,266

2,266

Disposals

-

(1,089)

(1,089)

At 30 November 2024

99

18,117

18,216

Depreciation

At 1 December 2023

99

14,099

14,198

Charge for the year

-

2,449

2,449

Eliminated on disposal

-

(1,089)

(1,089)

At 30 November 2024

99

15,459

15,558

Carrying amount

At 30 November 2024

-

2,658

2,658

At 30 November 2023

-

2,841

2,841

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

2,123

Prepayments

674

600

 

674

2,723

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

884

188

Taxation and social security

 

4,242

6,456

Accruals and deferred income

 

763

1,680

 

5,889

8,324

 

Ferguson West Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Directors current account

884

188