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Registration number: 06343648

Further Afield Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Further Afield Ltd

Contents

Company Information

1

Balance sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Further Afield Ltd

Company Information

Directors

P Heath

C Taylor

Registered office

79A High Street
Teddington
England
TW11 8HG

Accountants

Shaw Gibbs Limited 79a High Street
Teddington
Middlesex
TW11 8HG

 

Further Afield Ltd

(Registration number: 06343648)
Balance sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible fixed assets

5

49,672

60,942

Investment property

6

325,000

367,994

 

374,672

428,936

Current assets

 

Debtors

7

214,924

225,783

Cash at bank and in hand

 

372,618

277,444

 

587,542

503,227

Creditors: Amounts falling due within one year

9

(143,604)

(212,517)

Net current assets

 

443,938

290,710

Total assets less current liabilities

 

818,610

719,646

Provisions for liabilities

(1,655)

(1,604)

Net assets

 

816,955

718,042

Equity

 

Called up share capital

10

96

96

Capital redemption reserve

6

6

Retained earnings

816,853

717,940

Shareholders' funds

 

816,955

718,042

 

Further Afield Ltd

(Registration number: 06343648)
Balance sheet as at 30 November 2024 (continued)

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 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 directors have not delivered to the registrar a copy of the Profit and loss account.

The financial statements of Further Afield Ltd were approved and authorised for issue by the Board on 23 April 2025 and signed on its behalf by:
 

.........................................

P Heath
Director

 

Further Afield Ltd

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

1

General information

Further Afield Ltd (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.

2

Accounting policies

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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts. Revenue is recognised when the significant risks and rewards of ownership of the products have passed to the buyer and the amount of revenue can be measured reliably.

Tangible fixed assets

Tangible fixed 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 fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Plant and machinery

25% reducing balance basis

 

Further Afield Ltd

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

2

Accounting policies (continued)

Website development

20% straight line

Motor vehicles

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and is subject to an insignificant risk of change in
value.

Receivables

Receivables 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 receivables 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.

Payables

Payables 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.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Further Afield Ltd

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

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 7).

 

Further Afield Ltd

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

4

Intangible assets

Goodwill
 £

Cost

At 1 December 2023

225,350

At 30 November 2024

225,350

Amortisation

At 1 December 2023

225,350

At 30 November 2024

225,350

Carrying amount

At 30 November 2024

-

At 30 November 2023

-

5

Tangible fixed assets

Plant & machinery
 £

Motor vehicles
 £

Website development
£

Total
£

Cost

At 1 December 2023

25,936

66,876

4,700

97,512

Additions

5,286

-

-

5,286

At 30 November 2024

31,222

66,876

4,700

102,798

Depreciation

At 1 December 2023

15,151

16,719

4,700

36,570

Charge for the year

4,017

12,539

-

16,556

At 30 November 2024

19,168

29,258

4,700

53,126

Carrying amount

At 30 November 2024

12,054

37,618

-

49,672

At 30 November 2023

10,785

50,157

-

60,942

 

Further Afield Ltd

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

6

Investment properties

2024
£

At 1 December

367,994

Fair value adjustments

(42,994)

At 30 November2024

325,000

7

Receivables

2024
£

2023
£

Trade receivables

211,201

225,210

Other debtors

3,278

-

Prepayments

445

573

214,924

225,783

8

Cash at bank and in hand

2024
£

2023
£

Cash at bank

29,399

277,444

 

Further Afield Ltd

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

9

Payables

Payables: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade payables

8,934

28,341

Corporation tax

61,713

93,507

Social security and other taxes

67,860

79,648

Other payables

691

5,963

Accruals

4,406

5,058

143,604

212,517

10

Share capital and reserves

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares class A of £ 1 each

90

90

90

90

Ordinary shares class B of £ 1 each

2

2

2

2

Preference shares of £ 1 each

4

4

4

4

 

96

96

96

96