Dermot Barry Farrier Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04531381

Dermot Barry Farrier Limited

Filleted Unaudited Financial Statements

For the year ended

30 September 2024

Dermot Barry Farrier Limited

Statement of Financial Position

30 September 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	5		23,969		31,959

Current assets

Stocks		48,750	36,990
Debtors	6	314,128	415,154
Cash at bank and in hand		77,009	71,994
		---------	---------
		439,887	524,138

Creditors: amounts falling due within one year	7	294,465		269,935
		---------		---------
Net current assets			145,422		254,203
			---------		---------
Total assets less current liabilities			169,391		286,162

Provisions	5,992	–
	---------	---------
Net assets	163,399	286,162
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	163,299	286,062
	---------	---------
Shareholders funds	163,399	286,162
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

Dermot Barry Farrier Limited

Statement of Financial Position (continued)

30 September 2024

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

Mr D Barry
Director

Company registration number: 04531381

Dermot Barry Farrier Limited

Notes to the Financial Statements

Year ended 30 September 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lushington House, 119 High Street, Newmarket, CB8 9AE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on a historical cost basis. The financial statements are prepared in sterling which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered and sale of bloodstock, stated net of discounts and of Value Added Tax. Sale of bloodstock is recognised when the ownership of bloodstock passes from the seller to the buyer.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% straight line
Motor vehicles	-	25% reducing balance

Stocks

Raw stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Stock also comprises of bloodstock (mares and foals) held for the purposes of breeding, selling and racing. Such assets are stated at the lower of cost and net realisable value (selling costs less costs to sell). Where a write down is identified, the value of the stock is reduced and the reduction immediately charged in the profit and loss account.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 October 2023 and 30 September 2024	2,000	58,382	60,382
	-------	--------	--------
Depreciation
At 1 October 2023	2,000	26,423	28,423
Charge for the year	–	7,990	7,990
	-------	--------	--------
At 30 September 2024	2,000	34,413	36,413
	-------	--------	--------
Carrying amount
At 30 September 2024	–	23,969	23,969
	-------	--------	--------
At 30 September 2023	–	31,959	31,959
	-------	--------	--------

6. Debtors

	2024	2023
	£	£
Trade debtors	86,594	109,969
Other debtors	227,534	305,185
	---------	---------
	314,128	415,154
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	31,541	18,229
Social security and other taxes	252,869	232,034
Net wages payable	–	500
Other creditors	10,055	19,172
	---------	---------
	294,465	269,935
	---------	---------

8. Director's advances, credits and guarantees

The company operated a directors loan account throughout the current and previous year. Interest is charged at the official HM Revenue & Customs rate on any overdrawn balances in excess of £10,000. There were no specific repayment terms.

	2024	2023
	£	£
Advances	293,029	310,908
Repayments	349,590	330,068
Balance due to the company	170,119	226,680