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Registered number: 03053767










FARRER BARNES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
FARRER BARNES LIMITED
 
 
COMPANY INFORMATION


Directors
L D Johnson 
B J Purcell 
T B Farrer-Newey 




Registered number
03053767



Registered office
Unit 6 Denne Hill Business Centre
Womenswold

Canterbury

Kent

CT4 6HD




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
FARRER BARNES LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 8


 
FARRER BARNES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FARRER BARNES LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Farrer Barnes Limited for the year ended 31 December 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Farrer Barnes Limited, as a body, in accordance with the terms of our engagement letter dated 19 February 2024Our work has been undertaken solely to prepare for your approval the financial statements of Farrer Barnes Limited and state those matters that we have agreed to state to the Board of directors of Farrer Barnes Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Farrer Barnes Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Farrer Barnes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Farrer Barnes Limited. You consider that Farrer Barnes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Farrer Barnes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

24 April 2025
Page 1

 
FARRER BARNES LIMITED
REGISTERED NUMBER: 03053767

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,902
3,949

  
1,902
3,949

Current assets
  

Debtors: amounts falling due within one year
 5 
107,282
40,361

Cash at bank and in hand
  
87,847
146,757

  
195,129
187,118

Creditors: amounts falling due within one year
 6 
(79,472)
(53,493)

Net current assets
  
 
 
115,657
 
 
133,625

Total assets less current liabilities
  
117,559
137,574

  

Net assets
  
117,559
137,574


Capital and reserves
  

Called up share capital 
 7 
200
200

Profit and loss account
  
117,359
137,374

  
117,559
137,574


Page 2

 
FARRER BARNES LIMITED
REGISTERED NUMBER: 03053767
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 April 2025.






B J Purcell
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
FARRER BARNES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The company is a United Kingdom company limited by shares. It is incorporated and domicile in England and Wales. The registered office address is Unit 6 Denne Hill Business Centre, Womenswold, Canterbury, Kent, CT4 6HD.
The Company's principal activity is that of recruitment consultants.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered a period of twelve months from the date of approval of the financial statements. They consider that projected income together with current cash reserves will be more than adequate for the Company's needs. As such they believe that the financial statements should be prepared on the going concern basis.

 
2.3

Turnover

Turnover comprises revenue recognised by the company in respect of recruitment services supplied, exclusive of Value Added Tax. Revenue is recognised to the extent that the company has obtained the right to consideration through its performance of its contractual obligations.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
FARRER BARNES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line and reducing balance bases.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25% reducing balance or 25% - 33% straight line
Office equipment
-
33% - 50% straight line
Computer equipment
-
33% - 50% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
FARRER BARNES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 9).


4.


Tangible fixed assets





Fixtures & fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
8,615
-
14,833
23,448


Disposals
1,095
195
-
1,290



At 31 December 2024

9,710
195
14,833
24,738



Depreciation


At 1 January 2024
6,219
-
13,280
19,499


Charge for the year on owned assets
867
-
1,180
2,047


Disposals
1,095
195
-
1,290



At 31 December 2024

8,181
195
14,460
22,836



Net book value



At 31 December 2024
1,529
-
373
1,902



At 31 December 2023
2,396
-
1,553
3,949

Page 6

 
FARRER BARNES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
40,426
19,945

Amounts owed by group undertakings
58,884
7,671

Other debtors
7,972
12,745

107,282
40,361



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
8,010
10,371

Other taxation and social security
49,180
26,531

Other creditors
18,950
13,891

Accruals and deferred income
3,332
2,700

79,472
53,493



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 Ordinary shares of £1.00 each
200
200



8.


Pension commitments

The company operates a defined contributions pension scheme. Contributions totalling £564 (2023: £169) were payable to the fund at the balance sheet date and are included in creditors.


9.Commitments, guarantees and contingencies

At 31 December 2024, the Company had total financial commitments, guarantees and contingencies which are not included in the balance sheet amounting to £24,507 (2023: £43,511).

Page 7

 
FARRER BARNES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Transactions with directors

At 31 December 2024 the directors owed the Company £4 (2023: £4). This loan is repayable on demand and included within other debtors in note 6 to the financial statements. 

 
Page 8