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REGISTERED NUMBER: 07021257 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

FAREHAM CREEK LTD

FAREHAM CREEK LTD (REGISTERED NUMBER: 07021257)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Report of the Accountants 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


FAREHAM CREEK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: P A Heather
Dr N W Aston





SECRETARY: P A Heather





REGISTERED OFFICE: 32 East Street
Fareham
PO16 0BY





REGISTERED NUMBER: 07021257 (England and Wales)





ACCOUNTANTS: Accountancy Online Limited
6 Elsley Road
Tilehurst
Reading
RG31 6RN

FAREHAM CREEK LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
FAREHAM CREEK LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2024 set out on pages four to eleven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Accountancy Online Limited
6 Elsley Road
Tilehurst
Reading
RG31 6RN


28 May 2025

FAREHAM CREEK LTD (REGISTERED NUMBER: 07021257)

ABRIDGED BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 606,286 606,286
Tangible assets 5 958,741 871,760
1,565,027 1,478,046

CURRENT ASSETS
Stocks 45,364 44,112
Debtors 22,268 15,406
Cash at bank and in hand 841,498 682,059
909,130 741,577
CREDITORS
Amounts falling due within one year (224,001 ) (238,641 )
NET CURRENT ASSETS 685,129 502,936
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,250,156

1,980,982

CREDITORS
Amounts falling due after more than one year (892 ) (14,910 )

PROVISIONS FOR LIABILITIES 8 (27,180 ) (12,932 )
NET ASSETS 2,222,084 1,953,140

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 2,221,984 1,953,040
SHAREHOLDERS' FUNDS 2,222,084 1,953,140

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FAREHAM CREEK LTD (REGISTERED NUMBER: 07021257)

ABRIDGED BALANCE SHEET - continued
31 AUGUST 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:





P A Heather - Director


FAREHAM CREEK LTD (REGISTERED NUMBER: 07021257)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Fareham Creek Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
As a departure from FRS 102 Section 19 the members have not amortised goodwill in these financial statements. This treatment is adopted on the basis of the true and fair override concept in the preparation of financial statements. Veterinary businesses tend to increase in value over time and amortisation of goodwill would be in conflict with this underlying commercial reality.

The members will carry out a regular impairment review to confirm whether the current value of goodwill is at least equal to its carrying value. If not, the goodwill will be written down to the lower value determined in the impairment review less residual value.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Freehold property - no depreciation charge is made on the grounds it would be immaterial, because the estimated residual value of the tangible fixed asset is not materially different from the carrying value of the asset.

All fixed assets are recorded at initial cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


FAREHAM CREEK LTD (REGISTERED NUMBER: 07021257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2023
and 31 August 2024 606,286
NET BOOK VALUE

At 31 August 2024 606,286
At 31 August 2023 606,286

FAREHAM CREEK LTD (REGISTERED NUMBER: 07021257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2023 1,025,016
Additions 113,634
At 31 August 2024 1,138,650
DEPRECIATION
At 1 September 2023 153,256
Charge for year 26,653
At 31 August 2024 179,909
NET BOOK VALUE
At 31 August 2024 958,741
At 31 August 2023 871,760

6. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,045 48,660

Amounts falling due between one and two years:
Bank loans - 1-2 years - 14,696

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 6,045 63,356

Lloyds Bank Plc have a fixed and floating charge over the freehold property known as 32 East Street.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 27,180 12,932

FAREHAM CREEK LTD (REGISTERED NUMBER: 07021257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2023 12,932
Charge to Income Statement during year 14,248
Balance at 31 August 2024 27,180

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 September 2023 1,953,040
Profit for the year 322,944
Dividends (54,000 )
At 31 August 2024 2,221,984

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end P A Heather was owed £446 (2023: £107), and N Aston was owed £446 (2023: £107). These loans were interest free and without repayment terms.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £54,000 (2023 - £90,000) were paid to the directors .

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.