Company registration number 04276990 (England and Wales)
FARRELL HEYWORTH SURVEYORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
FARRELL HEYWORTH SURVEYORS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
FARRELL HEYWORTH SURVEYORS LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
-
0
256
Cash at bank and in hand
270
3,657
270
3,913
Creditors: amounts falling due within one year
4
(85)
(179)
Net current assets
185
3,734
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
184
3,733
Total equity
185
3,734

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 6 February 2025
Mr S W Penny
Director
Company registration number 04276990 (England and Wales)
FARRELL HEYWORTH SURVEYORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information

Farrell Heyworth Surveyors Limited is a private company limited by shares incorporated in England and Wales. The registered office is Second Floor Suite, The Pavilion, Covell Cross, Lancaster, LA1 1EX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

The turnover shown in the profit and loss account represents amounts receivable during the year in respect of surveys completed, exclusive of Value Added Tax. Income is recognised upon the completion of the survey.

1.4
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

FARRELL HEYWORTH SURVEYORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised initially at transaction price.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8

Group relief

The accounts have been prepared on the assumption that group relief is available to facilitate the transfer of corporation tax losses between companies in the group.

 

The directors have resolved that there may be payment for such losses surrendered.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
-
0
256
FARRELL HEYWORTH SURVEYORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
85
179
5
Financial commitments, guarantees and contingent liabilities

A cross-company unlimited guarantee is in place in favour of NatWest between the company, Farrell Heyworth Holdings Limited, Auction House North West Ltd, Farrell Heyworth Lettings Limited, Farrell Heyworth Limited and Farrell Heyworth Mortgages and Protection Limited.

 

At the balance sheet date, group borrowings payable to NatWest totalled totalled £Nil (2023: £533,334).

6
Related party transactions

The company has taken advantage of the exemption conferred by Section 33 FRS102, namely from disclosing any transactions entered into between two or more members of the group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

2024-08-312023-09-01falsefalsefalse07 February 2025CCH SoftwareCCH Accounts Production 2024.301No description of principal activityMr S W Penny042769902023-09-012024-08-31042769902024-08-31042769902023-08-3104276990core:CurrentFinancialInstrumentscore:WithinOneYear2024-08-3104276990core:CurrentFinancialInstrumentscore:WithinOneYear2023-08-3104276990core:ShareCapital2024-08-3104276990core:ShareCapital2023-08-3104276990core:RetainedEarningsAccumulatedLosses2024-08-3104276990core:RetainedEarningsAccumulatedLosses2023-08-3104276990bus:Director12023-09-012024-08-31042769902022-09-012023-08-3104276990core:WithinOneYear2024-08-3104276990core:WithinOneYear2023-08-3104276990core:CurrentFinancialInstruments2024-08-3104276990core:CurrentFinancialInstruments2023-08-3104276990bus:PrivateLimitedCompanyLtd2023-09-012024-08-3104276990bus:SmallCompaniesRegimeForAccounts2023-09-012024-08-3104276990bus:FRS1022023-09-012024-08-3104276990bus:AuditExemptWithAccountantsReport2023-09-012024-08-3104276990bus:FullAccounts2023-09-012024-08-31xbrli:purexbrli:sharesiso4217:GBP