Richard Faraway Design Ltd - Filleted accounts

Registered number

08989243

Richard Faraway Design Ltd

Filleted Accounts

For the year ended 30 June 2024

Richard Faraway Design Ltd
Registered number:		08989243
Balance Sheet
as at 30 June 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		-			-

Current assets
Debtors	4	1,572			1,199
Cash at bank and in hand		-			11,657
		1,572			12,856

Creditors: amounts falling due within one year	5	(17,032)			(16,032)

Net current liabilities			(15,460)			(3,176)

Net liabilities			(15,460)			(3,176)

Capital and reserves
Called up share capital			20			20
Profit and loss account			(15,480)			(3,196)

Shareholder's funds			(15,460)			(3,176)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 10 July 2025





R D W Faraway
Director

Richard Faraway Design Ltd
Notes to the Accounts
for the year ended 30 June 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the rendering of services which is recognised by reference to the stage of completion of the services provided.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings and equipment	25% per annum on cost


	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.


	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.

2	Employees		2024		2023
Number				Number

	Average number of persons employed by the company		1		1



3	Tangible fixed assets
					Fixtures fittings and equipment
£
	Cost
	At 1 July 2023				2,393
	Additions				-
	Disposals				-
	At 30 June 2024				2,393

	Depreciation
	At 1 July 2023				2,393
	Charge for the year				-
	On disposals				-
	At 30 June 2024				2,393

	Net book value
	At 30 June 2024				-



4	Debtors		2024		2023
£				£

	Trade debtors		-		1,199
	Other debtors		1,572		-
			1,572		1,199



5	Creditors: amounts falling due within one year		2024		2023
£				£

	Bank loans and overdrafts		3		-
	Taxation and social security costs		-		448
	Other creditors		17,029		15,584
			17,032		16,032


6	Other information

	Richard Faraway Design Ltd is a private company limited by shares and incorporated in England. Its registered office is 39 Borkwood Way, Orpington, Kent BR6 9PB.