REGISTERED NUMBER: 08790064 (England and Wales)

Financial Statements for the Year Ended 30 November 2024

for

Farrell & Co Accountants Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Baccus FCA

REGISTERED OFFICE:

1C Amberside

Wood Lane

Paradise Industrial Estate

Hemel Hempstead

Hertfordshire

HP2 4TP

REGISTERED NUMBER:

08790064 (England and Wales)

ACCOUNTANTS:

Farrell & Co

1C Amberside

Wood Lane

Hemel Hempstead

Hertfordshire

HP2 4TP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

21,850

27,115

21,850

27,115

CURRENT ASSETS

Debtors

6

428,476

353,392

Cash at bank

127,912

239,070

556,388

592,462

CREDITORS

Amounts falling due within one year

7

157,127

145,506

NET CURRENT ASSETS

399,261

446,956

TOTAL ASSETS LESS CURRENT LIABILITIES

421,111

474,071

CREDITORS

Amounts falling due after more than one year

8

(86,259

)

(141,624

)

PROVISIONS FOR LIABILITIES

(5,355

)

(5,152

)

NET ASSETS

329,497

327,295

CAPITAL AND RESERVES

Called up share capital

203

203

Retained earnings

9

329,294

327,092

SHAREHOLDERS' FUNDS

329,497

327,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

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

The financial statements were approved by the director and authorised for issue on 4 November 2025 and were signed by:

A Baccus FCA - Director

1.	STATUTORY INFORMATION

Farrell & Co Accountants Limited 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.

Changes in accounting policies

The goodwill acquired has not diminished in value over the last three years of trading, in fact there has been

a growth in trade specifically due to the strong goodwill retained by the business through its reputation locally but also the name and brand of the business. Consequently the Director of the Company deems it appropriate to extend the period of life of the acquired goodwill to be written off over 8 years. The new change in policy was implemented in 2017.

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

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of eight years.

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

-

10% on cost

Plant and machinery

-

25% on reducing balance

Computer equipment

-

33% on cost

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 9 (2023 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2023

and 30 November 2024

394,450

AMORTISATION

At 1 December 2023

and 30 November 2024

394,450

NET BOOK VALUE

At 30 November 2024

-

At 30 November 2023

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 December 2023

740

69,266

5,522

75,528

Additions

-

1,126

2,338

3,464

At 30 November 2024

740

70,392

7,860

78,992

DEPRECIATION

At 1 December 2023

740

45,851

1,822

48,413

Charge for year

-

6,135

2,594

8,729

At 30 November 2024

740

51,986

4,416

57,142

NET BOOK VALUE

At 30 November 2024

-

18,406

3,444

21,850

At 30 November 2023

-

23,415

3,700

27,115

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

£

Trade debtors

182,102

123,480

Amounts owed by associates

246,322

226,685

Other debtors

52

3,227

428,476

353,392

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

£

Bank loans and overdrafts

53,055

48,205

Payments on account

10,980

10,516

Trade creditors

-

2

Taxation and social security

78,928

57,776

Other creditors

14,164

29,007

157,127

145,506

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.24

30.11.23

£

£

Bank loans

86,259

141,624

9.

RESERVES

Retained

earnings

£

At 1 December 2023

327,092

Profit for the year

62,202

Dividends

(60,000

)

At 30 November 2024

329,294