Company registration number 09458740 (England and Wales)
FARELANE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
FARELANE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
FARELANE LTD
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,633
414
Current assets
Debtors
5
44,622
39,305
Cash at bank and in hand
12
11
44,634
39,316
Creditors: amounts falling due within one year
6
(22,769)
(20,640)
Net current assets
21,865
18,676
Total assets less current liabilities
23,498
19,090
Creditors: amounts falling due after more than one year
7
(2,627)
(6,000)
Provisions for liabilities
(410)
(79)
Net assets
20,461
13,011
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
20,361
12,911
Total equity
20,461
13,011
FARELANE LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 2 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

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

The financial statements were approved and signed by the director and authorised for issue on 16 July 2025
Mr R Jillings
Director
Company registration number 09458740 (England and Wales)
FARELANE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Farelane Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 19 Purslane Gardens, Fareham, Hampshire, England, PO15 5TQ.

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 £.

1.2
Turnover

Turnover represents amounts receivable for commercial management consultancy services.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% straight line
Computers
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

FARELANE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2025
2024
Number
Number
Total
1
1
FARELANE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
4
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 April 2024
-
0
3,208
3,208
Additions
246
2,144
2,390
Disposals
-
0
(756)
(756)
At 31 March 2025
246
4,596
4,842
Depreciation and impairment
At 1 April 2024
-
0
2,794
2,794
Depreciation charged in the year
62
1,109
1,171
Eliminated in respect of disposals
-
0
(756)
(756)
At 31 March 2025
62
3,147
3,209
Carrying amount
At 31 March 2025
184
1,449
1,633
At 31 March 2024
-
0
414
414
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
10,799
6,450
Other debtors
33,823
32,855
44,622
39,305
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
4,340
6,125
Trade creditors
150
-
0
Corporation tax
11,242
8,666
Other taxation and social security
5,862
4,879
Other creditors
1,175
970
22,769
20,640
FARELANE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,627
6,000
8
Directors' transactions

Dividends totalling £38,770 (2024 - £32,841) were paid in the year in respect of shares held by the company's directors.

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Directors loan
2.50
28,710
50,929
719
(50,832)
29,526
28,710
50,929
719
(50,832)
29,526
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